The fact remains that the banks, private businesses and individuals are forced to operate on the basis of minimal or no trust. As foreigners we see this a little more clearly. If there is not absolute trust in a business environment (including in your personal banking) there can be no development in business. A contract is a statement of trust.
In an environment where even a simple transfer of moneys is a risky business (as it has been for several friends of mine) there is no prospect for creative economic development. The reason starts with a capital "C", and it is everywhere here.