In most developed countries, property rights are effectively protected by the government, but in developing countries,...

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In most developed countries, property rights are effectively protected by the government, but in developing countries, this i

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Answer 1

Answer #1

Clearly defined and secure property rights are considered to be an important component for achieving economic growth.

Strong institutional framework is required for such an undertaking.

Developed countries have the strong institutional framework to create and secure the property rights.

However, lack of strong and transparent institutions in developing countries has resulted in poorly defined and insecure property rights in such countries.

Moreover, there is complete absence of property rights in many cases or where there are property rights, enforcement mechanism is very weak. This has kept the developing countries from achieving the economic growth up to their true potential.

So,

The given statement is True.

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Answer 2

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In most developed countries, property rights are effectively protected by the government, but in developing countries,...

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1. We can classify countries by their development level as developed, developing and not developed countries....

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Compared to developed countries, developing countries… spend greater sums on unemployment insurance. often lack reliable or...

In most developed countries, property rights are effectively protected by the government, but in developing countries,...

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