DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES

Аннотация

This article examines the key determinants of economic growth in developing countries by analyzing both economic and non-economic factors. Economic determinants such as investment, foreign direct investment (FDI), trade openness, technological progress, human capital, fiscal and monetary policies are explored alongside non-economic factors including governance, political stability, geography, and institutional reforms. Using empirical evidence and graphical illustrations, the study highlights how these interconnected factors contribute to economic development. The findings underscore the critical role of education, infrastructure, political stability, and market openness in fostering sustainable growth. The paper also discusses the transformation of economies through urbanization and structural reforms, emphasizing their impact on improving living standards and economic performance. Key words: Economic growth, Developing countries, Foreign direct investment, Human capital, Trade openness, Governance, Political stability, Urbanization, Structural reforms, Fiscal policies.