Pankova A.S. – principal specialist, expert, department of the Ministry of Economic Development of the Russian Federation. Mihnevich S.V. – director of the Center for multilateral cooperation, Russian union of industrialists and entrepreneurs.
The article focuses on economic development of the least developed countries (LDCs). The authors point out that a range of economic factors which hamper their development, such as inefficient distribution of funds and low rate of tax collection, relate to political and socio-cultural peculiarities of the LDCs. Consequently, the number of political and economic risks increase, foreign investments being discouraged. This regularly results in civil wars and low intensity conflicts.
Least developed countries, LDCs, economic development, Africa, Asia, economic transformation, international cooperation, OECD, UNCTAD, intermediate equipment.
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