Cold context

Question 1

What are some cold facts for trade benefiting development

Answer 1

Diamond exports accounted for over 80% of Botswana’s total export revenue and roughly one-third of its GDP at peak
By 2005, over 30% of government spending was directed at public infrastructure and human capital development (education)

Question 2

examples of failed austerity measures

Answer 2

• ## Austerity measures implemented after the 2008 financial crisis, including cuts to public spending, failed to reduce debt, and the country struggled with a lack of aggregate demand, leading to a significant decline in GDP

Question 3

Statistic showing success in market based SSP?

Answer 3

UK corporation tax fell from 28% in 2010 to 19% by 2017.
- The UK maintained one of the highest inward FDI levels in Europe, attracting £67 billion of FDI in 2016.

Question 4

Example of interventionalist SSP boosting productivity?

Answer 4

Between 2000–2010, UK education spending rose from 4.5% to over 6% of GDP.
Supported a rise in labour productivity, which grew on average 1.8% annually pre-2008.