Political stability is a key factor from "summary" of Economic Development by Michael P. Todaro,Stephen C. Smith
Political stability plays a crucial role in determining the overall economic development of a country. When a nation experiences political stability, it creates an environment conducive to investment, growth, and development. Investors are more likely to commit capital to a country that is politically stable, as they are reassured that their investments will be protected and that there will be minimal risk of political upheaval disrupting their operations. Furthermore, political stability fosters a sense of predictability and consistency in policies, which is essential for businesses to plan their long-term strategies and make informed decisions. In contrast, countries that are plagued by political instability often see fluctuations in policies, corruption, and a lack of enforcement of contracts, all of ...
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