External shocks can hinder economic progress from "summary" of Theory of Economic Growth by W. Arthur Lewis
External shocks such as natural disasters, political instability, or sudden changes in global markets can significantly disrupt the trajectory of a country's economic growth. These unforeseen events can throw a wrench into carefully laid plans and strategies, leading to a slowdown or even a contraction in economic activity. The impact of external shocks on economic progress can be particularly severe for developing countries that may already be facing numerous challenges in their quest for growth and development. These countries often have limited resources and institutional capacity to effectively mitigate the negative effects of external shocks, making them more vulnerable to economic downturns. When an external shock hits, it can lead to a decline in key economic indicators such as GDP growth, investment levels, and employment rates. This can have a ripple effect throug...
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