Abstract
The concept of development contributes to the literature as a prescription for overcoming the phenomenon of “underdevelopment”, which refers to the situation in which the savings rate and capital accumulation are weak due to low per capita national income and poverty is widespread due to income inequality. In this respect, development refers not only to economic growth but also to the process of improving the quality of economic, social, and political institutions.1 In other words, countries seeking a particular level of development ought to have democratic governance mechanisms centered on political participation and multiculturalism, establishing a wide area of
freedoms based on the rule of law, establishing effective bureaucratic functioning that eliminates corruption, and gaining economic competitiveness with a new perspective