The Economic Development Institute was established in 1955 to train government officials from the developing world in economic and financial management. ... The International Center for Settlement of Investment Disputes was established in 1966 and provides arbitration services in investment disputes which arise between foreign investors and host country governments. It provides advice to developing countries governments on the drafting of foreign investment laws and regulations. ... This philosophy is based on WW Rostow's Five Stages View. ... This initiative is based on the p...

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