The market-friendly approach to development emphasizes
A)self-interested behavior of public officials in LDCs.
B)the dependence of LDCs on former colonial powers.
C)the inherent efficiency of markets in developing countries.
D)that markets in LDCs fail sometimes and selective interventions can promote economic development.

Question

Quizplus · Accepted Answer

The market-friendly approach to development recognizes the potential for market failures in developing countries and suggests selective interventions to promote economic growth. It does not necessarily focus on the self-interested behavior of public officials or the dependence of LDCs on former colonial powers, nor does it assume that markets are inherently efficient in these countries.

The Market-Friendly Approach to Development Emphasizes