Poverty Alleviation Strategies through Economic Development Approaches in Developing Countries
Keywords:
Poverty Alleviation, Economic Development, Infrastructure, EducationAbstract
Poverty remains a significant challenge for developing countries despite various efforts to reduce it. This study evaluates the effectiveness of economic development approaches in alleviating poverty, identifying key factors for success and effective strategies. Using a mixed methods approach, data was collected through quantitative surveys and secondary sources like government reports, academic publications, and international databases such as the World Bank and UNDP. Statistical analysis was performed using SPSS, and qualitative analysis was conducted with NVivo software. The findings reveal significant correlations between investments in infrastructure (β = 0.45, p < 0.01), education (β = 0.37, p < 0.01), and healthcare (β = 0.32, p < 0.01) and reductions in poverty levels, explaining 65% of the variance (R² = 0.65). Thematic analysis highlights the importance of community involvement, effective governance, and access to financial services. Programs with strong local leadership and community participation were more successful. The study underscores the need for substantial investments in infrastructure, education, and healthcare, along with addressing broader socio-economic factors such as gender inequality and access to financial services. Further research should explore the long-term impacts of these strategies and the role of technology and innovation in enhancing their effectiveness.
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