Inter-relationship between poverty, trade and crime: A cross-sectional study for least developed countries

Poverty had always been the scourge of mankind who always seek to achieve a higher standard of living. In the least developing countries (LDCs), the need to overcome poverty, among others is indeed crucial to ‘elevate’ them in terms of the socioeconomic development. Greater trade allows for mutually beneficial exchange of goods and services between countries based on specialization and comparative advantage, ultimately leading to higher standard of living for the citizens of both countries in terms of higher level of consumption and production. It also facilitates resources to be allocated more efficiently.