In developing countries, there are significant challenges that must be considered which impact economic growth and development in different ways. In Haiti, there are many financial difficulties which have created limited opportunities for residents to grow and thrive under challenging circumstances. For the people of this country, their limitations are driven by many different issues which impact decision-making and economic stability among families, businesses, and social classes. Organizations such as the World Bank and the International Monetary Fund, both of which provide variable support to developing countries in different ways, depending on current economic conditions. With a devastating earthquake in its recent past, Haiti has faced crippling economic challenges in its recovery, and its growth has been limited on many levels. The World Bank has become increasingly involved in projects to support economic growth and development in developing countries; however, these projects do not always lead to the desired results and demonstrate the importance of careful execution and ongoing support which will make a major difference in the lives of those living in Haiti.
1)From a political perspective, Haiti’s funding from the World Bank has been disbursed in response to elections, as payments were terminated after the election of Aristade but recommenced in 2005 (Kersting & Kilby, 2016). Therefore, the World Bank possesses its own standards and policies regarding lending which may impact outcomes for developing countries on the basis of political decision-making and election processes (Kersting & Kilby, 2016). These patterns also affect social and economic development because if these payments are not provided as anticipated, countries such as Haiti will ultimately suffer and may not have the ability to recover for lengthy periods of time that could further limit their growth and development in a social and economic context.
In other ways, the development of microenterprises, albeit informal in nature, have been important in shaping some degree of economic growth that may have a positive impact on those who are disenfranchised in countries such as Haiti (Bruhn & McKenzie, 2013). One of the key factors to consider is the level of regulation which governs these practices and how to best manage the needs of the population in doing business that may have a positive impact on the population (Bruhn & McKenzie, 2013). At the same time, the emergence of caisses popularizes in Haiti, better known as credit unions, have been successful in reaching many of those who have been disenfranchised by social and economic status to enable those who are struggling to take steps forward to improve their own economic growth (Hossein, 2014). This reflects the need to expand offerings for the people of Haiti to have additional economic opportunities and the ability to grow and thrive within a complex set of circumstances (Hossein, 2014). Therefore, it is necessary to demonstrate the importance of these alternatives to address economic disparities among the people of Haiti.
2) A healthy population possesses a level of strength, discipline, and courage that is effective in expanding opportunities for the economy of a given nation, particularly that of a developing country. This requires an effective understanding of the key factors which drive decision-making towards healthy outcomes and other improvements to support economic growth and stability. Furthermore, it requires a strong commitment from the government and other organizations to ensure greater stability to improve health and economic outcomes. The following parameters are essential to improve economic growth with a healthy population: a) New scientific and medical discoveries are critical to the development of a sustainable economy in many countries because they offer a means of improving health and longevity among members of a given population (Crisp et al., 2016). This reflects the importance of advancing research and development to improve health and grow the economy effectively (Crisp et al., 2016); b) The support of a viable and stable infrastructure is necessary to achieve greater health among members of the population and to be mindful of the opportunities that are available to increase job growth and expand the workforce if they have health on their side; c) a healthy population supports greater innovation and creativity to expand new business opportunities that will contribute to economic growth and development at a higher level; and d) a healthy population encourages members of the healthcare system to continue to seek new practice methods and procedures that will be effective in advancing healthcare policies to the next level, thereby creating the potential for new jobs and other economic resources to advance growth within a given country. These efforts are of critical importance in advancing economic growth and making a difference in the lives of residents who live in this country.
4) In Haiti, there has been a shift in economic resources after the devastating earthquake of 2010, which caused mass casualties and devastation around the country. There was a massive relief effort in the country to provide support to the survivors and the rebuilding effort; however, support for healthcare is less clear and demonstrates an environment which is impacted by a disorganized infrastructure which has made it difficult to overcome the challenges of the healthcare system (Kligerman, Barry, Walmer, & Bendavid, 2015). Nonetheless, foreign aid has supported an expansion of healthcare facilities, including operating rooms, emergency care facilities, and hospitals after the earthquake (Kligerman et al., 2015). There has been support from outside sources to encourage growth within the healthcare system that could accommodate the needs of this displaced population and improve access to care and treatment for a variety of needs; however, this continues to pose a challenge in how to allocate foreign aid in areas with the greatest level of need and who require extensive support and guidance in different areas (Kligerman et al., 2015).
- Bruhn, M., & McKenzie, D. (2014). Entry regulation and the formalization of microenterprises in developing countries. The World Bank Research Observer, 29(2), 186-201.
- Crisp, N., Stuckler, D., Horton, R., Adebowale, V., Bailey, S., Baker, M., … & Davies, J. (2016). Manifesto for a healthy and health-creating society. The Lancet, 388(10062), e24-e27.
- S. Hossein, C. (2014). Haiti’s caisses populaires: home-grown solutions to bring economic democracy. International Journal of Social Economics, 41(1), 42-59.
- Kersting, E. K., & Kilby, C. (2016). With a little help from my friends: Global electioneering and World Bank lending. Journal of Development Economics, 121, 153-165.
- Kligerman, M., Barry, M., Walmer, D., & Bendavid, E. (2015). International aid and natural disasters: a pre-and post-earthquake longitudinal study of the healthcare infrastructure in Leogane, Haiti. The American journal of tropical medicine and hygiene, 92(2), 448-453.