ビジネスと経済ジャーナル

Economic Growth in Developing Countries: Drivers and Barriers

Abstract

Sheng Chen*

This paper explores the determinants of economic growth in developing countries, analysing both the drivers and barriers to sustained growth. Using a panel data set covering 50 developing countries from 1995 to 2020, we employ an econometric model to identify key factors influencing growth, such as investment in human capital, infrastructure development, political stability, and trade openness. Our results indicate that while investment in education and infrastructure are significant drivers of economic growth, political instability and inadequate institutions pose substantial barriers. The findings suggest that policy interventions aimed at enhancing education, infrastructure, and governance are crucial for fostering long-term economic growth in developing countries.