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Why do poor countries stay poor?

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A rich country's aid agency pours millions into a new industry in a poor country, in the hope of boosting its economy, but it never really works. The factory keeps ... “Do economies develop because they managed to become more reliable, or do they become more reliable because they managed to develop? read more

Poor countries stay poor due to Vicious circle of poverty.Thes countries have low income which results in low saving.Low saving further bring low productivity.Low production causes low investment.Now low investment affects the economy of that country in shape of low income.The circle is complete.Poor country can break this circle by increasing saving.Unfortunately,poor society has low rate of saving that means low rate of investment because Saving is always equal to investment. read more

“To receive support from the rich countries, poor countries had to refrain from using the policies the rich countries had used and often still use. These are the ‘conditionalities’ of the Washington Institutions.” ‘How rich countries got rich, and why poor countries stay poor’ is not an easy book. read more

In turn, poor people, or poor countries, should be very happy to take out such loans, confident that investment returns are so high that the repayments will not be difficult. Even if, for some reason, that didn't happen, the World Bank, established after World War II with the express aim of providing loans to countries for reconstruction and development, lends billions of dollars a year to developing countries. read more

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