There has been a sharp decline in the rate of economic growth in many developing countries in the 1980s compared with the 1970s. Reduced availability of external finance following the international debt crisis has been identified as one of the most important factors responsible for this decline....

Least developed countries (LDC) receive specific international support measures and preferential market access to high-income countries. Graduation from the LDC status is based upon consistent economic and human capital performance. Graduation is appealing for LDC countries as it signals...