What is a major factor contributing to the slow growth rate of less developed economies?

Question

Quizplus · Accepted Answer

Well-defined and enforceable property rights are crucial for economic development as they provide incentives to invest in long-term projects and increase the potential returns on those investments. Without such rights, individuals and businesses may be hesitant to invest, leading to slow growth rates. While the other options may also contribute to slow growth, none are as significant as the lack of property rights.

What Is a Major Factor Contributing to the Slow Growth