Free Essay

Comparing the Economic Development of Sudan and Libya

In: Business and Management

Submitted By willdiz
Words 1639
Pages 7
Economics 211

Comparing the Economic Development of Sudan and Libya

Professor George Hartner

March 20, 2014

University of Regina In comparing the economic growth of developing countries, in this case Sudan and Libya, it is important to understand the variables impacting the growth of the two nations. These variables include social conflict, corruption within the institutions, transportation issues and the commodities in which their economies are structured around. Social conflict has had a great impact on both of the nation’s economic prosperity as well as their infrastructure. As well, corruption has greatly impacts the availability of financial resources for the citizens of either nation. In this comparison of nations, I will argue that Libya is more economically developed and has more economic potential than Sudan. The commodities in Libya offer a future of wealth for the nation and the potential for immediate growth economically and socially. Social conflict and civil war has affected and continues to affect many nations around the globe. Sudan is a nation which has been involved in decades of civil war and as a result has left the nation struggling to survive, leaving almost no basic infrastructure to create order within the nation. They were left without schools, a functioning government or financial institutions. From this, many problems have arisen. Groups such as the Lebanese Hezzbollah terrorist sect have set up training grounds inside the borders of Sudan, presumably receiving support from the nation. The lack of an official government body being in place has lead to a blind spot on basic human rights, with major violations happening such as imprisonment without reason and torture. Lastly, without an official government, Sudanese rebel and terrorist groups have played an increasing role in destabilizing neighbouring governments 1. All of these issues caused by civil war have led to a trade embargo placed on Sudan by the United States. This embargo places heavy restrictions and fees in order to trade with the US, especially in their main exports such as oil, creating even more economic turmoil for the already struggling nation of Sudan. In regards to Libya, the few years of civil war have been less detrimental to their economic growth than their counterpart's decades of civil war. During the 2011 Revolt there was a $73 billion drop in GDP and a $10,000 per year decrease in GDP per capita. However, after the political leader Muammar Gudaffi was forcefully removed from office in the same year, the country’s economic situation started to improve. The GDP per year has increased $40 Billion while the GDP per capita has grown by $6,000 per year. The revolt in Libya did the exact opposite of destroying the nation's infrastructure; rather it returned basic diplomatic freedoms to the people. The citizens were now able to vote for the first time since Gadaffi assumed the role of leader some 40 years prior. The country could now focus on building back up their economy to where it once was, ranked in the top 5 most prosperous African nations. Despite the prosperity of the nation as a whole, many of the six million people of Libya were not seeing any of the return. The country was bringing billions of dollars in oil on a yearly basis. Unfortunately, none of this money was being invested in the people; it was not being invested in the nation's infrastructure or any type of advancement or betterment of the nation 1. Gadaffi, the Libyan dictator, was suspected of keeping much of the money for himself. Corruption ended up ruining the potential economic prosperity for the people. However, Libya was home to the largest oil reserve on the African continent, therefore the country itself still prospered 2. This created a flawed worldview of Libya, with outsiders seeing a nation thriving in the oil industry, when in reality, its people were struggling. Gadaffi at one point was even credited with being the man who financially saved Libya, even going so far as saying he was saving the African economy 3. The Libyan economy is based around mainly government run businesses, leaving little room to allow for private entrepreneurships due to having a central planning structure 2. In theory this should create the most benefits for the people of the nation, however with the history of government corruption it has not been the case. Now with Gadaffi out of power, economic prosperity for the Libyan people could see an improvement. The Sudanese government is bound to be corrupt simply by structure. Before they were taken over by an interim government the country was ran by several different military leaders, as well there was divide between the north and south regions. As history has proven over and over again, such as with General Noriega in Panama and Fidel Castro in Cuba, military rulers tend to be corrupt and tend to lead the nation down the wrong path. The situation in Sudan has been no different. These leaders lead their regions into wars with one another and in turn have created a separation of north and south Sudan. Their desires for money and power have led their nation as a whole to bring in less money per year than Libya, a nation with 31 million less people 1. After 2005, the 1nation signed a peace agreement in hopes to bring an end to the violence felt throughout the country. Unfortunately, a western rebel conflict has begun which has killed up to 400,000 people and displaced 2 million more, again making it difficult to even think about economic prosperity or growth4. Transportation issues are mainly of concern in Sudan. One major issue in the nation is that they have a very poor railway system. This in turn greatly limits their transportation of goods considering their already very low rates of production in the country 5.The other major issue surrounding transportation is the ongoing hostilities within the nation. The South hold most of the profitable oil reserves and rebel groups looking for valuable resources will often use violent and hostile means in order to acquire them 6. This makes it difficult to transport goods to, from and even within Syria difficult. Although the economy in Libya is structured around oil and the exportation of it, the recent revolution allowed private entrepreneurship to begin to blossom opening up the possibility for a more market based economy. However, energy resources, consuming 95% of Libya's export earnings, are still providing the nation with a good sum of income. After the revolt of 2011, the country gained $40 billion in GDP and is still rising 1. The possibilities of economic growth are enormous. Especially considering the massive foreign investment that is directed towards oil and other growing businesses in the nation. And unlike their counterpart Sudan, the US does not have an embargo placed on Libya. This allows for the US, one of the world's largest purchasers of oil, to continue to put money into Libya by exporting their oil 1. Sudan's story is a little bit different. They continue to struggle greatly with their economic growth. Civil wars and rebellions paint the landscape and with the difficulties surrounding exporting oil, the country relies on agriculture to sustain its economic needs 1. Unfortunately, the civil wars have also caused a lack of reliable agricultural institutions and supplies. With no central institution governing the production of agriculture the process has become very slow and considering that agriculture is one of their main commodities, this adds to the stress faced by the Sudanese economy. Production issues are just another setback felt by the nation as they struggle to create economic growth. With slow production and a lack of supportive institutions for one of the main exports, the likelihood of Sudan’s economy rebounding from such disparity is unlikely. In conclusion, each variable concerning economic growth goes in favour of Libya. Both countries have been involved in civil conflict throughout their history. Sudan's civil wars have destroyed their infrastructure and their institutions and continue to keep the nation at a stand-off with itself. Libya's most recent conflict in contrast, has freed the nation of a corrupt leader and will hopefully place more money in the hands of the people. Syria has not been so successful in ridding there officials of corruption. Ex-rebels control the government of the south while an interim government is in the North. In the south, corruption is at the government’s very foundation. In the north, the battle for a sustainable government is still underway, with many radicals being placed in charge. Lastly, the oil exportation in Libya has much more potential and is already more prosperous than that of Sudan. A major factor is the US embargo on Sudan and their subsequent investment in Libyan oil. The success of the economy in Libya is spectacular in comparison to Sudan considering the vast amount of oil both of these nations hold. Both have had equal opportunities and pitfalls as nations, but Libya has begun to embrace the economic and democratic changes needed in order to create a successful nation for its people.

1 "Libya vs. Sudan." - economy comparison. http://www.indexmundi.com/factbook/compare/libya.sudan/economy (accessed March 20, 2014).
2 Infoplease. "Libyan Political Geography." Infoplease. http://www.infoplease.com/encyclopedia/world/libya-economy.html (accessed March 20, 2014).
3 "Gaddafi Rescued Africa Financially." Rising Continent. http://therisingcontinent.wordpress.com/2013/10/18/when-gaddafi-rescued-africa-financially/). (accessed March 20, 2014).
4 "___ Sudan." Sudan. http://www.nationsonline.org/oneworld/sudan.htm#Government (accessed March 20, 2014).
5 "home - Rural Poverty Portal." Rural Poverty Portal. http://www.ruralpovertyportal.org/country/home/tags/sudan (accessed March 20, 2014).
6 Joy, Oliver. "Can South Sudan rebuild embattled economy?." CNN. http://edition.cnn.com/2014/01/27/business/south-sudan-rebuild-economy/ (accessed March 20, 2014).

Similar Documents

Free Essay

Duraduris

...Internally displaced people returning to their homes following the end of fighting in Sudan’s Blue Nile state between the Sudanese army and fighters allied to Sudan People’s Liberation Movement (SPLM), the dominant force in newly independent South Sudan. (Photo: REUTERS/Mohamed Nureldin Abdallah, September 2011) Internal displacement in Africa Burundi p. 41; Central African Republic p. 42; Chad p. 43; Côte d’Ivoire p. 44; Democratic Republic of the Congo p. 45; Ethiopia p. 46; Kenya p. 47; Liberia p. 48; Niger p. 48; Nigeria p. 49; Senegal p. 50; Somalia p. 50; South Sudan p. 51; Sudan p. 52; Uganda p. 53; Zimbabwe p. 54 In 2011, IDMC monitored internal displacement in 21 subSaharan African countries. There were an estimated 9.7 million IDPs in these countries, representing over a third of the world’s total internally displaced population. Sudan, the Democratic Republic of the Congo (DRC) and Somalia continued to be the countries with the largest internally displaced populations in Africa. The number of IDPs in Africa in 2011 was down from 11.1 million a year earlier, continuing a sustained downward trend since 2004 when there were over 13 million. Violent struggles between groups vying for access to natural resources, land and political representation and power were among the root causes of most of these displacements. These struggles were manifested either by armed conflicts pitting governments and their armed forces against armed opposition groups, or by inter-communal...

Words: 13852 - Pages: 56

Free Essay

Resourcce Utilization in Africa

...Resources abound in africa but how to manage them well to take advantage of absolute and comparatives cost ADVANTAGES is the problem. Introduction Africa is endowed with a rich diversity of environmental resources. Some of these are geographical, terrestrial, aquatic and country-specific resources while others transcend national boundaries of two or more countries within the region or continent. Since World War II, Africans have embarked on the massive utilisation of their environmental resources for improving their quality of life and that of their global business partners (Frobel et al. 1988; French 2000). In spite of the abundance of these resources, local communities, predominantly smallholder farmers and pastoralists, whose production systems are based on Traditional Environmental Knowledge Systems (TEKS), are now unable to meet their basic needs, sustain environmental productivity and even have an equitable share of the global wealth (ADALCO 1990). The predominance of international trade over local needs fostered, among other things, specialisation in spatial production and exchange of goods and services on a global scale, what evolved today as theories of Absolute and Comparative Advantage. Consequently, it is evident that in some geographical areas, natural resources are still sustainably utilised, while in others there is evidence of environmental degradation or inefficient utiliatization (Stebbing 1935; Timberlake 1985; Blaikie 1989; Juma and Ford 1992; Rugumamu...

Words: 5280 - Pages: 22

Free Essay

A Study for Implementation of Electronic Government

... Dissertation Title ------------------------------------------------- A Study for Implementation of Electronic Government upervisor Name: Stephen Gibbs Student Name: ALMABROK ALHUMRY ID Number: 1072062 Word Count: 17,711 Table of Contents Acknowledgements 5 Abstract 7 1. Chapter One: Introduction 9 1.1 Introduction 9 1.2 Research Title 10 1.3 Research Question 10 1.4 Aims of Research 10 1.5 Research Background 10 1.6 Research Scope and Limitations 11 1.7 Research Objectives 12 1.8 About Libya 13 2. Chapter Two: Literature Review 14 2.2 E-Government Benefits 14 2.3 E-Government for Developing Countries 16 2.4 Characteristics of Electronic government Services 17 2.5 E-Administration___ A part of e-government 18 2.6 Existing Administration System of Libya 19 2.8 E-Government in Libya 26 2.9 ICT Knowledge in Libya 28 2.10 E-Government Problems in Libya 30 2.12 Stages of E government Development 32 2.17.2 Training Public Employees for E-Government 41 2.18 Risks associated with E-government 42 2.19 Summary of Literature Review 42 3. Chapter Three: Research Methodology 48 3.1 Research Design 48 3.2 Research Methodology 49 3.3 Conceptual Framework 50 4. Chapter Four: Research Analysis 63 4.1 Research Limitation 63 4.2 Analysis Plan 64 4.3 Analysis of Employees Questionnaire 65 4.3 Analysis of Citizens Questionnaire 90 Do you know the use of computer? 90 Do you know the usage of internet? 92 Do you...

Words: 20901 - Pages: 84

Premium Essay

Policy

...Chapter:01 Introduction 1.1.Background of the report: Employees, as well as business owners, are always interested in what is available when it comes to compensation and benefits so they can plan accordingly. Since these benefits are increasingly expensive for businesses to offer, the options available to employees can change frequently. In order for an employee to utilize this information effectively they must be aware as to what is available and when, they must also be able to understand how things work in regard to managing time and finances. Employees want to know and understand what is offered to them and the business owners (as well as the employees) want to make sure it is properly maintained. In order to keep track of the compensation and benefits within an organization, there are many key parts that must be considered including the day-to-day administrative services such as financial planning, personnel, benefit plans , pensions, health insurance, retirement services, and leave administration. From the employees’ point of view, they want to ensure the money being taken from their check is being placed into the correct categories. Orion Pharma Ltd. is one of the premier pharmaceutical companies of Bangladesh which has been contributing to improving the human health care of the country by providing quality branded-generic pharmaceuticals. We, at Orion Pharma Ltd., always believe in 'Quality never ends' and refuse to settle for anything until it exceeds...

Words: 3624 - Pages: 15

Premium Essay

Angola Trade Study

...1 The Impact of China-Africa Trade Relations: The Case of Angola By Dr Ron Sandrey Associate Trade Law Centre of Southern Africa Prepared for the African Economic Research Consortium Nairobi, Kenya November 2009 2 Acknowledgements The author would like to thank Hannah Edinger, Research Fellow, China Africa Network, Centre for Business and Academic Research, Gordon Institute of Business Science, University of Pretoria; and Senior Manager & Head of Research at Frontier Advisory, for comments on a previous draft, and for research and editorial assistance. The author would also like to express gratitude to the African Economic Research Consortium for commissioning the research paper. 3 Table of Contents 1. Introduction……………………………………………………………………. 4 1.1 Problem Statement…………………………………………………………………... 4 1.2 Objectives of Report……………………………………………………………….… 5 1.3 Overview of Report……………………………………………………………….….. 7 2. Background………………………………………………………………….… 9 2.1 Angola & China Country Snapshots and the background trading relationship………………………………………………………………………….… 9 2.1.1 2.1.2 2.1.3 2.1.4 2.1.5 2.1.6 2.1.7 2.2.1 2.2.2 2.2.3 Angola – A Country Snapshot………………………………………………………….…. China – A Country Snapshot……………………………………………………………… Angola’s trade profile………………………………………………………………………. Angola’s trade profile with China…………………………………………………………. Angola’s other trade partners……………………………………………………………… Who are the gainers and losers from Angola’s increasing merchandise trade flows...

Words: 27003 - Pages: 109

Free Essay

Export Ikea Product to Egypt

... 3. Creating a Supply Chain and Logistics Strategy a. Determining the Store Location and Capacity b. Transportation and Storage c. Logistic partnerships d. Logistic Enterprise and Measurement 4. Risk Management Plan for Supply Chain and Logistics IX. IKEA Distribution Process to Egypt X. General document requirement for exporting I. Executive Summary IKEA is a home furnishing company with a fully integrated supply chain, including its own industrial groups – Swedwood and Swedspan. The IKEA Group, directly or indirectly, also owns retail centers, always with an IKEA store as unique anchor tenant. The IKEA Group works in four basic areas: range strategy & product development, production, supply and retail. The parent company of the IKEA Group of Companies, INGKA Holding B.V. is owned by Stichting INGKA Foundation in the Netherlands (The case of IKEA, 2004) At IKEA, the core vision is to create a better everyday life for the many people. IKEA business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. This is in addition to the Stichting IKEA Foundation’s main funded programs that are designed to improve...

Words: 6597 - Pages: 27

Premium Essay

Development

...Human Development Report 2014 Sustaining Human Progress: Reducing Vulnerabilities and Building Resilience Empowered lives. Resilient nations. The 2014 Human Development Report is the latest in the series of global Human Development Reports published by UNDP since 1990 as independent, empirically grounded analyses of major development issues, trends and policies. Additional resources related to the 2014 Human Development Report can be found online at http://hdr.undp.org, including complete editions or summaries of the Report in more than 20 languages, a collection of papers commissioned for the 2014 Report, interactive maps and databases of national human development indicators, full explanations of the sources and methodologies employed in the Report’s human development indices, country profiles and other background materials as well as previous global, regional and national Human Development Reports. Human Development Report 2014 Sustaining Human Progress: Reducing Vulnerabilities and Building Resilience Empowered lives. Resilient nations. Published for the United Nations Development Programme (UNDP) Human Development Reports 1990–2014 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007/2008 2009 2010 2011 2013 2014 Concept and Measurement of Human Development Financing Human Development Global Dimensions of Human Development People’s Participation New Dimensions of Human Security Gender and Human Development Economic...

Words: 191797 - Pages: 768

Free Essay

Rivalries

...Identifying Rivals and Rivalries in World Politics Author(s): William R. Thompson Source: International Studies Quarterly, Vol. 45, No. 4 (Dec., 2001), pp. 557-586 Published by: Wiley on behalf of International Studies Association Stable URL: http://www.jstor.org/stable/3096060 Accessed: 20-11-2015 13:22 UTC Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at http://www.jstor.org/page/ info/about/policies/terms.jsp JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. International Studies Association and Wiley are collaborating with JSTOR to digitize, preserve and extend access to International Studies Quarterly. http://www.jstor.org This content downloaded from 110.93.234.9 on Fri, 20 Nov 2015 13:22:55 UTC All use subject to JSTOR Terms and Conditions International Studies Quarterly(2001) 45, 557-586. Identifying Rivals and Rivalries in World Politics WILLIAM R. THOMPSON Indiana University Instead of assuming that all actors are equally likely to clash, and that they do so independently of previous clashes, rivalry analysis can focus on the small number of feuding dyads that cause much of the trouble in...

Words: 18521 - Pages: 75

Free Essay

Globalization

...Chapter 5: The Big Leap of Anti-Hegemonic Party States: The Second Wave 1946-1975…………………………………………………………………………………………………………………111 Chapter 6: Globalization Anew and the Marginalization of Anti-Hegemonic Party States 1976-2010………………………………………………………142 Conclusions Introduction: Globalization and Anti-Hegemonic Party State In 1997 the European Commission defined Globalization “as the process by which markets and production in different countries are becoming increasingly interdependent due to the dynamics of trade in goods and services and flows of capital and technology. It is not a new phenomenon but the continuation of developments that have been in train for some considerable time”.[1] Wider definitions incorporate more spheres than the economy, including the intensification of worldwide social, political, and cultural relations as well while stressing their growing extensity, intensity, velocity, and depth.[2] A working definition attempting to integrate the most outstanding features...

Words: 33126 - Pages: 133

Free Essay

As It Goes

...Contents Preface to the First Edition Introduction Part 1. Thought Control: The Case of the Middle East Part 2. Middle East Terrorism and the American Ideological System Part 3. Libya in U.S. Demonology Part 4. The U.S. Role in the Middle East Part 5. International Terrorism: Image and Reality Part 6. The World after September 11 Part 7. U.S./Israel-Palestine Notes Preface to the First Edition (1986) St. Augustine tells the story of a pirate captured by Alexander the Great, who asked him "how he dares molest the sea." "How dare you molest the whole world?" the pirate replied: "Because I do it with a little ship only, I am called a thief; you, doing it with a great navy, are called an Emperor." The pirate's answer was "elegant and excellent," St. Augustine relates. It captures with some accuracy the current relations between the United States and various minor actors on the stage of international terrorism: Libya, factions of the PLO, and others. More generally, St. Augustine's tale illuminates the meaning of the concept of international terrorism in contemporary Western usage, and reaches to the heart of the frenzy over selected incidents of terrorism currently being orchestrated, with supreme cynicism, as a cover for Western violence. The term "terrorism" came into use at the end of the eighteenth century, primarily to refer to violent acts of governments designed to ensure popular submission. That concept plainly is of little benefit to the practitioners of state terrorism...

Words: 93777 - Pages: 376

Premium Essay

Trade Agreements

...ABC of Preferential Trade Agreements Frequently Asked Questions Monographs on Globalisation and India – Myths and Realities, #14 ABC of Preferential Trade Agreements Frequently Asked Questions Monographs on Globalisation and India – Myths and Realities, #14 Published by CUTS Centre for International Trade, Economics & Environment D-217, Bhaskar Marg, Bani Park Jaipur 302 016, India Email: citee@cuts.org Website: www.cuts-international.org/www.cuts-citee.org Researched and compiled by Kritika Kapil* Printed by Jaipur Printers P. Ltd. Jaipur 302 001 © CUTS International, 2009 * Research Assistant, CUTS CITEE Niru Yadav, Senior Research Associate, CUTS International contributed to this Monograph. #0914 Contents Preface .......................................................................................................... i Introduction ............................................................................................... iii 1. 2. 3. 4. 5. 6. 7. 8. 9. What is a PTA? What are the Different Types? ............................ 1 What has led to the Growth of PTAs? .......................................... 5 How have PTAs Evolved? ............................................................ 6 How are PTAs Inconsistent with GATT Rules? ............................ 9 What are Rules of Origin? ........................................................... 11 What are Negative and Positive List Approaches? ..................... 13 What are the...

Words: 9744 - Pages: 39

Premium Essay

World Investment Report 2013

...O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T WORLD INVESTMENT REPORT 2013 GLOBAL VALUE CHAINS: INVESTMENT AND TRADE FOR DEVELOPMENT New York and Geneva, 2013 ii World Investment Report 2013: Global Value Chains: Investment and Trade for Development NOTE The Division on Investment and Enterprise of UNCTAD is a global centre of excellence, dealing with issues related to investment and enterprise development in the United Nations System. It builds on four decades of experience and international expertise in research and policy analysis, intergovernmental consensusbuilding, and provides technical assistance to over 150 countries. The terms country/economy as used in this Report also refer, as appropriate, to territories or areas; the designations employed and the presentation of the material do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. In addition, the designations of country groups are intended solely for statistical or analytical convenience and do not necessarily express a judgment about the stage of development reached by a particular country or area in the development process. The major country groupings used in this Report follow the classification of the United Nations Statistical Office. These are: Developed countries:...

Words: 156671 - Pages: 627

Premium Essay

World Investment Report

...O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T WORLD INVESTMENT REPORT 2013 GLOBAL VALUE CHAINS: INVESTMENT AND TRADE FOR DEVELOPMENT New York and Geneva, 2013 ii World Investment Report 2013: Global Value Chains: Investment and Trade for Development NOTE The Division on Investment and Enterprise of UNCTAD is a global centre of excellence, dealing with issues related to investment and enterprise development in the United Nations System. It builds on four decades of experience and international expertise in research and policy analysis, intergovernmental consensusbuilding, and provides technical assistance to over 150 countries. The terms country/economy as used in this Report also refer, as appropriate, to territories or areas; the designations employed and the presentation of the material do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. In addition, the designations of country groups are intended solely for statistical or analytical convenience and do not necessarily express a judgment about the stage of development reached by a particular country or area in the development process. The major country groupings used in this Report follow the classification of the United Nations Statistical Office. These are: Developed countries:...

Words: 156671 - Pages: 627

Premium Essay

Financial Markets, Insurance and Entrepreneurship in the Countries of the Middle East and North Africa (Mena) Region

...activities and possibly introduce new combinations of productive factors. The analysis is based on the distinction between uncertainty and risk that Knight unveiled (Knight, 2012) arguing that risk involves situations where a decision maker face unknown outcomes but known ex-ante probability distributions, while uncertainty is characterized by situations in which the probability distribution of a random outcome is unknown. Consequently, while risk can be covered by insurance, uncertainty normally is not. The other pillar of this research is the role of entrepreneurship; a factor that the economic literature has not considered for long time and that in the last 20 years has become the center of any strategy for economic growth in emerging and advanced economies. The discovery of the role of entrepreneurs dates back to Schumpeter (Schumpeter, 1982a) who regards entrepreneurs as the engine of economic growth. Schumpeter (Schumpeter, 1982a) has a view of the entrepreneur as the one who introduces innovation, but does not bear the risk. The study intends to investigate on two main aspects: whether insurance and entrepreneurship interact; and whether the widespread availability of insurance leads to a reduction of uncertainty and support the deployment of entrepreneurship. The considerations related to these two...

Words: 18799 - Pages: 76

Premium Essay

Essay on International Trade and Fdi

...Dissertations and Theses from the College of Business Administration. Paper 18. http://digitalcommons.unl.edu/businessdiss/18 This Article is brought to you for free and open access by the Business Administration, College of at DigitalCommons@University of Nebraska Lincoln. It has been accepted for inclusion in Dissertations and Theses from the College of Business Administration by an authorized administrator of DigitalCommons@University of Nebraska - Lincoln. ESSAYS ON INTERNATIONAL TRADE AND FOREIGN DIRECT INVESTMENT by Wanasin Sattayanuwat A DISSERTATION Presented to the faculty of The Graduate College at the University of Nebraska In Partial Fulfillment of Requirements For the Degree of Doctor of Philosophy Major: Economics Under the Supervision of Professor Craig R MacPhee Lincoln, Nebraska February 2011 ESSAYS ON INTERNATIONAL TRADE AND FOREIGN DIRECT INVESTMENT Wanasin Sattayanuwat, Ph.D. University of Nebraska, February 2011 Advisor: Professor Craig R MacPhee This dissertation comprises three separate essays on international trade and foreign direct investment. We present the gravity model with Poisson pseudo-maximum likelihood (PPML) estimation to investigate the effect of transportation costs on trade, the effect of RTAs on intraand extra-regional trade in developing...

Words: 9587 - Pages: 39