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Economic Development

AI-generated Abstract

The paper examines the trajectories of economic development from historical and theoretical perspectives, focusing on the role of institutions, capital, and human factors in shaping growth. It addresses issues of poverty, agricultural transformation, and the impact of economic policies and global influences on developing nations, particularly contrasting the situations in China and Russia. Key models and theories are integrated to facilitate a comprehensive understanding of the complexities involved in economic growth and the multidimensional nature of poverty.