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Development Traps (Collier)

Collier's 4 development traps are four factors that can inhibit economic development and trap countries in poverty. These traps were identified by economist Paul Collier in his book "The Bottom Billion." Here is a brief overview of each of the four traps:

  1. Conflict Trap: Countries that are mired in conflict are more likely to remain poor, as violence and instability undermine economic development.
  2. Natural Resource Trap: Countries that rely heavily on natural resource exports, such as oil or minerals, may struggle to diversify their economies and can become trapped in poverty if the prices of their exports decline or if the resources are depleted.
  3. Landlocked with Bad Neighbours Trap: Landlocked countries that are surrounded by poor or conflict-ridden neighbours may struggle to access markets and may be trapped in poverty.
  4. Bad Governance Trap: Countries with corrupt or ineffective governments may struggle to attract investment and may be trapped in poverty.

Collier's 4 development traps highlight the complex and interconnected factors that can contribute to poverty and underdevelopment, and they provide a framework for understanding the challenges that countries face in breaking out of poverty and achieving economic growth.

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