ANALYZING THE EFFECTS OF TRADE POLICIES, FOREIGN DIRECT INVESTMENT, AND TECHNOLOGICAL ADVANCEMENTS ON ECONOMIC DEVELOPMENT IN DEVELOPING COUNTRIES

Abstract This study investigates the combined effects of trade policies, foreign direct investment (FDI), and technological advancements on economic development in developing countries. Utilizing a qualitative research approach, data was gathered from semi-structured interviews with policymakers, economists, and industry experts, along with an extensive review of relevant literature and policy documents. The findings indicate that trade policies promoting openness can attract FDI, which in turn brings capital, technology, and managerial expertise essential for economic growth. Technological advancements further enhance productivity and innovation, acting as a catalyst for development. However, the study also highlights that the benefits of these factors are contingent upon the presence of supportive policies and robust institutional frameworks. Synergistic interactions between trade policies, FDI, and technological advancements can significantly amplify their positive impact on economic development. The analysis reveals the importance of a comprehensive and coordinated approach to policymaking, emphasizing the need for inclusive and equitable trade policies, an enabling environment for FDI, and substantial investment in technological infrastructure and education. The study concludes with policy recommendations aimed at maximizing the benefits of these factors to foster sustainable and inclusive economic growth in developing countries.