Unrelated pioneer institutions

Other Names:
Missing institutions
Obstacles to industrial development
Absence of industrial support services
Uncoordinated business development
Pioneer industries in developing areas are likely to suffer from the absence of other establishments to which waste by-products might be passed. They may also be handicapped by the absence of institutions which in a more developed society would help to improve the skill of the labour force and facilitate the raising of capital. Where the work requires it, a new factory may have to organize its own training facilities - again a cost-raising expedient - but the lack of financial institutions is likely to be less tractable. This is a deterrent to industrial investment partly because it makes more difficult the raising of local capital and partly because it tends to reduce the liquidity of investment in secondary industry. In much the same way, the day-to-day operations of a manufacturing establishment are likely to be less smooth and hence less efficient, because of the absence of many of the services of insurance, credit and banking institutions which are part of the normal environment of an industrial economy.
Related UN Sustainable Development Goals:
GOAL 1: No PovertyGOAL 2: Zero HungerGOAL 3: Good Health and Well-beingGOAL 4: Quality EducationGOAL 5: Gender EqualityGOAL 6: Clean Water and SanitationGOAL 7: Affordable and Clean EnergyGOAL 8: Decent Work and Economic GrowthGOAL 9: Industry, Innovation and InfrastructureGOAL 10: Reduced InequalityGOAL 11: Sustainable Cities and CommunitiesGOAL 12: Responsible Consumption and ProductionGOAL 13: Climate ActionGOAL 14: Life Below WaterGOAL 15: Life on LandGOAL 16: Peace and Justice Strong InstitutionsGOAL 17: Partnerships to achieve the Goal
Problem Type:
F: Fuzzy exceptional problems
Date of last update
03.04.2020 – 18:47 CEST