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Opportunities and Challenges for Development
Abstract
This chapter aims to provide an analysis of compelling conditions which are faced by developing economies in the current phase of the globalization. Globalization provides opportunities for developing economies yet it also causes difficulties at the same time. Effects of globalization on developing economies depend largely on deliberate policies that must be followed by the governments and support of the people alongside public authorities in designing such public policies. For market operations cannot secure optimal results for developing economies, the fate of a developing economy cannot be fully left to private markets' mercy so that public intervention often becomes a necessity.
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