Do developing economies have anything significant to offer to the world economy? For a long time, they have mainly been the recipients of what the rest of the world had to offer. Why has this been so? Could the changing economic climate offer opportunities for these nations to take a significant role in trade? Are there investment opportunities in developing nations? Are there global opportunities for outward investment from developing nations' businesses/entrepreneurs?
The major hindrances to development in these regions have been widely documented, corruption, poorly managed financial, legal and social institutions, poor health facilities, illiteracy, the list is endless...but does this mean there is no impetus and possibility to change things around? With a lack of properly managed institutions, what alternative systems are currently in place in these economies? Obviously these institutions are not functioning well, but are there some positive aspects about these institutions which can be harnessed?
Developing economies are exciting, as, in a way, they are a clean slate, where policies and institutions which have not worked in the developed economies (e.g. the banking system) can be implemented differently. Developing economies are an opportunity for new and unique products, because their needs are still basic, unsophisticated, and with the current information technology developments, there is potential for product and services which can be tailored for these regions.
This blog is aimed at exploring these issues.
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