IB Economics Topic 4.10.1 Strategies to Promote…

The Eight Families of Strategies

Strategies to promote growth and development fall into eight families, each working through a different channel.

Trade strategies.
Diversification and social enterprise.
Market-based policies.
Interventionist policies.
Merit goods.
Inward foreign direct investment.
Foreign aid and multilateral assistance.
Institutional change.

No single strategy is enough on its own; the best approach combines several, matched to a country's context.

Trade and Diversification Strategies

These change how a country engages with world markets.

Import substitution: build local industry behind tariffs, though protected firms often stay high-cost.
Export promotion: support industries to sell abroad, earning foreign exchange and scale, though it ties growth to global demand.
Economic integration: join trade blocs to widen markets and competition, at some loss of policy independence.
Diversification: broaden output beyond a few primary products to spread risk, though new industries are slow to build.

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IB Economics 4.10.1 Strategies to Promote Economic Growth and Economic Development Notes

IB Economics 4.10.1 Strategies to Promote Economic Growth and Economic Development Notes

The Eight Families of Strategies

Trade and Diversification Strategies

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The Eight Families of Strategies

Trade and Diversification Strategies

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IB Economics 4.10.1 Strategies to Promote Economic Growth and Economic Development Notes

1. Introduction to Economics2 subtopics

2. Microeconomics12 subtopics

3. Macroeconomics7 subtopics

4. The Global Economy10 subtopics

IB Economics 4.10.1 Strategies to Promote Economic Growth and Economic Development Notes

1. Introduction to Economics2 subtopics

2. Microeconomics12 subtopics

3. Macroeconomics7 subtopics

4. The Global Economy10 subtopics

The Eight Families of Strategies

Trade and Diversification Strategies

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

The Eight Families of Strategies

Trade and Diversification Strategies

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

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