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Economic development requires structural change. In assessing the relative merits of different economic systems for the...

Economic development requires structural change. In assessing the relative merits of different economic systems for the pursuit of development objectives, should we use the ability to promote structural change a s a criterion for assessment?

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Answer #1

Yes

The ability of an evening to promote structural changes helps in economic development by putting the economy on a path to growth and development. The more able it is for an economy to promote structural changes, the more developed it would become over a period of years, as compared to those economies who are not able to do so.

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