Question 23M.1.HL.TZ1.3b
| Date | May 2023 | Marks available | [Maximum mark: 15] | Reference code | 23M.1.HL.TZ1.3b |
| Level | HL | Paper | 1 | Time zone | TZ1 |
| Command term | Discuss | Question number | b | Adapted from | N/A |
Using real-world examples, discuss the view that the weak institutional framework in many economically least developed countries (ELDCs) represents the most significant barrier to economic growth.
[15]
Refer to Paper 1 markbands for May 2022 forward, available under the "My tests" tab > supplemental materials.
Answers may include:
- Terminology: economically least developed country, economic growth.
- Explanation: of the view in terms of how various aspects of the institutional framework such as poorly-functioning legal system, ineffective/inequitable taxation structure, underdeveloped banking system and lack of property rights may act as a barrier to economic growth.
- Diagram: a diagram is not required for this question, but candidates may use a LRAS/PPC diagram to illustrate economic growth in the long run and explain that the weak institutional framework is preventing economic growth from happening.
- Synthesis (discuss): a challenge to the view in terms of the relative significance of other economic and social/political barriers.
- Examples: real-world examples of countries facing a weak institutional framework and/or other barriers to economic growth.
A maximum of [12] should be awarded if only weak institutional framework is considered.
N.B. It should be noted that definitions, theory, and examples that have already been given in part (a), and then referred to in part (b), should be rewarded.
Examiners should be aware that candidates may take a different approach which, if appropriate, should be rewarded.
Assessment Criteria
Part (b) 15 marks
The great majority of candidates did not demonstrate an understanding of weak institutional framework. While various economic, political and social barriers to economic development were explained in more or less detail, very few candidates addressed the specific demands of the question.
