...Discussion Board Forum 2: Economic Development Sebastian Oertel Liberty University Online Discussion Board Forum 2: Economic Development Working in transportation with a focus on rail, government or World Bank based economic development is a key tool to enable some third world countries afford the infrastructure needed for continued growth. Countries like Vietnam or some large cities in Latin America are in need of reliable metro systems in order to combat traffic congestion, offer means of transportation to the low income population and at the same time increase the cities attractiveness for additional foreign investment, while reducing carbon emissions. Lack of funds for these large scale infrastructure projects is a main obstacle, which can be overcome through economic development in form of grants or no to low interest loans. “Economic development is the development of economic wealth of countries, regions or communities for the well-being of their inhabitants. From a policy perspective, economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and supporting or growing incomes and the tax base” (http://www.svbic.com/node/24). While this definition gives a broad overview, the basic idea includes a multitude of possibilities, which are aimed to improve the current status of an economy. That economic zone many times is a third world country, region or city, but sometimes...
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...Content: In the article mentioned above, the author Kuotsai Tom Liou was trying to find out two answers: first of all, how has China achieved its development? Second, what can we learn from this story? The article starts with a brief introduction about how important the economic development is. Then the article uses few paragraphs to point out different development methods during different reformation period of China. At the end of the introduction, the author threw out the two main points which have already mentioned above. On the next section, the author began to focus on the time-line of China’s development. He listed out events and reformations paragraph by paragraph. This section help the readers better get their ideas into shape. In order to make a strong argument, Kuotsai Tom Liou provided few forms while he was talking about China’s macroeconomic structural reformation. Next, the author dug in-depth and discussed about the four major strategies implemented that readers should focus on. The four major strategies are: the contract responsibility system, the dual price system, special economic zones, and administrative reform. These changes all represent different reform periods. Next then, the author summed up little bit, he used one section to talk about the lessons we should learn from economic development. In this section, the author overall expounded how Chinese development experience occurred and became successful while it interact with government, environment, special...
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...chains and emerging markets. The author has also given a very basic look into how emerging market from developed economies such as Brazil, China, India, and Russia are emerging very quickly from fast economic growth. An experienced author in the field of Global marketing the book provides a very basic setting for research into global marketing. The author touches on main points and does not provide solid information for research into competition, marketing mix, global sourcing or supply chain management. Browne, S., Laird, S., & International Trade Center, (. (U.S.). (2011). The International Trade Centre : Export Impact for Good. New York, NY: Routledge. In this book the author attempts to discuss trade, growth, and competitive advantages and the value chain. The author emphasis that exports growth can be a major component of economic progress. The author tries to get the reader to understand the different stages of development by using illustrations of resources, geography, use of technology, history, and cultural language that are all factors that need to be taken into account in determining how to enter a market. The author does a very good job of explaining the relationships that need to be built with an emerging market, the relationship between exporting and development along with outlining the importance...
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...| UN-Conference 1974-76 | Charter of Economic Rights and Duties UN- habitat Conference | | | Submitted to:- Mrs. Anu Kohli | | UNITED NATIONS CONFERENCE 1974-1976Twenty-eighth session Agenda item 51 Resolutions adopted by the General Assembly 3082 (XXVIII). Charter of Economic Rights and Duties of States | | Bearing in mind that the United Nations Conference on Trade and Development, in its resolution 45 (III) of 18 May 1972,/8 decided to establish a Working Group of governmental representatives to draw up a draft Charter of Economic Rights and Duties of States, Recalling its resolution 3037 (XXVII) of 19 December 1972, by which it decided to enlarge the composition of the Working Group on the Charter of Economic Rights and Duties of States, Reaffirming its conviction of the urgent need to establish or improve norms of universal application for the development of international economic relations on a just and equitable basis, 1.Takes note with appreciation of the report of the Working Group on the Charter of Economic Rights and Duties of States and of the comments made thereon as reflected in the report of the Trade and Development Board on its thirteenth session; 2.Decides, in the light of the progress achieved, to extend the mandate of the Working Group as established by resolution 45 (III) of the United Nations Conference on Trade and Development; 3.Further decides that the Working Group shall hold two sessions in 1974, each of three...
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...Ahlstrom Krzysztof Obloj Emerging economies are characterized by an increasing market orientation and an expanding economic foundation. The success of many of these economies is such that they are rapidly becoming major economic forces in the world. Entrepreneurship plays a key role in this economic development. Yet to date, little is known about entrepreneurship in emerging economies. This introductory article to the special issue on entrepreneurship in emerging economies examines the literature that exists to date in this important domain. It then reviews the research that was generated as part of this special issue on this topic. The article concludes with a discussion of the critical future research needs in this area. Introduction The quantity and quality of entrepreneurship research has increased dramatically over the last 15 years. Today, entrepreneurship research is some of the most widely cited in the management discipline, with leading journals dedicated to its study and well-recognized conferences supporting its development. The methods employed and the theory foundations used in entrepreneurship today are consistent with mainstream management research. However, entrepreneurship research can still be critiqued as almost exclusively focused on North American and European research sites. The exploration of domains outside of these two developed economic regions remains extremely limited. In particular, little is known of entrepreneurship in emerging economies: economies...
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...DIFFERENCES BETWEEN “ECONOMIC GROWTH” AND “ECONOMIC DEVELOPMENT” Kevin Bucknall WHY ARE WE INTERESTED IN THE DIFFERENCE? · We need to understand the processes of each better; it is useful information. · · · · We need to know in order to advise governments on policies and what they can do to improve their performance. Many questions concerning third world countries impact on growth or development; they may be either a help or a hindrance. Some•issues•are•created•by•growth•but•not•by•development,•for•example•pollution. Focussing solely on economic growth as desirable can lead to undesirable consequences. ECONOMIC GROWTH What is growth? This is reasonably unambiguous; it is the change in national income over time, usually measured over one year. National income is the amount produced by a country in one year. How can we measure growth? We measure it by the percentage change in the level of national income, often over the period of one year. There are three ways of adding it up: · · · production, or incomes,•or expenditure GDP = gross domestic product (produced within a country). GNP = gross national product (includes income coming into or going out of country). NNP = net national produce (an allowance is made for depreciation of capital). National income per capita often matters most if looking at how well off a country is; how well it is doing; or if comparing it with another country. © Copyright Kevin B. Bucknall 2013, but you are free to distribute this article as widely as you...
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...Summary of the article. This is a summary of the “Make or Break for China” by Fareed Zakaria in the Time Magazine January,2014. In the article the Fareed begins by addressing 2014 is the year of the horse in China and list down the country’ problem before it becomes the world’s largest economy . A big part of Fareed’s focus in this article is about China’s challenges likes debt, pollution and corruption. In this article showed how China’s financial crisis and the global economy slowdown based on it’s economic imbalances . The basic economy’s problem is that for almost a decade, China's economic growth has been fueled by cheap credit and government spending--a classic developing-nation problem .The country’s total debt level was estimated at 215% of GDP in 2013.Besides financial problem, China also have serious challenges in environment. Air and water pollution has become a major public health issue in the country.The last challenges in 2014 is the corruption’s problem ,it seriously increasing among the Communist Party. According to this article, China’s president has launched an anticorruption campaign for this unethical problem . In closing, Fareed Zakaria says that ,he not ready to bet against China if China’s leader did not manage this transition well.If China’s leaders manage this transition well.the country will emerge stronger and more stable and become the largest economy in the world. INTRODUCTION International business is much more complicated than domestic business...
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...Final academic essay What are the main characteristics of emerging markets? In contemporary society, emerging Markets (EM) are increasingly becoming the most important strength that could promote the development of the world economy. Broadly speaking, the term "emerging market" has been used mainly to refer to the developing world in Asia, Africa, and Latin America. (Mody，2004). Narrowly speaking, EM refers to the stock markets of developing countries. The purpose of this article is to further analyze the characteristics of emerging markets, I am going to focus on the broad economic aspect of EM, which refers to some developing countries like Brazil, Russia, India, China. (BRICs). I would like to separate this article into three different parts. In the first part, I discuss the implications of emerging markets and why people choose to invest in them. The second part is the central theme of the article. In this part, I focus on the main characteristics of EM. After examining all the characteristics, I make a conclusion about the whole paper and put forward several suggestions for ways governments and investment companies can cooperate together to make contributions to making the markets more mature. Emerging market countries mainly contain dozens of developing countries, which are widely distributed in Asia, Latin America, and Eastern Europe; especially the BRICs (Brazil, Russia, India, China) Bruner et al (2003) classify the world economy in the following way: developed...
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...Source No.1 Title and Article Reference Guillen, MF. 2001, ‘Is Globalization Civilizing, Destructive or Feeble? A Critique of Five Key Debates in the Social Science Literature’, Annual Review of Sociology, Vol. 27, pp. 235-260 Aim / Purpose of article The purpose of this article is to discuss about various connotations of Globalization and its historical observation. It also aims to clarify five vital issues relating to globalization: its existence, if it produces convergence, if it undermines the authority of nation states, its difference from modernity and if global culture is in making. Sample, location, method of data collection and analysis The ideas and data used in this article have been collected from various author’s articles and journals and their views towards Globalization. Some of the data used in this article are collected from economic research, statistics. Findings/Interpretations reported in the article The definition of globalization and its impact in the world in terms of sociological, economic, political, and anthropological literatures. Significance/contribution of the article in relation to your other articles and your topic The significance of this article is that it describes and clarifies the key issues related to Globalization in views of different authors who expertise in this topic. According to researches discussed in this article suggest that globalization is indeed happening, and there is no convergence found in political, social, or...
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...Article excerpt The present study examines the impact of foreign aid on both economic growth and development in India by using Ordinary Least Square (OLS) test from the period 1975-76 to 2009-10. The study analyzes plan-wise distribution and composition of foreign aid inflows into India. It attempts to explain the effect of some major macroeconomic variables on both economic growth and development in India. The results indicate that foreign aid has been considered as a significant determining factor for both economic growth and development of India. The simple OLS test results show that the impact of foreign aid on both economic growth and development is positive. Finally, the study concludes that the impact of foreign aid on economic growth is higher than its impact on economic development, which indicates that aid contributes to growth but that growth is not translated into meaningful development. This inadequate transformation may be caused due to underutilization of foreign aid, inequality present in the distribution of wealth and income, poor economic policies, poverty and corruption. INTRODUCTION Foreign aid is considered as an important ingredient for financing the developmental programs of the developing countries. Currently, it is considered as an important instrument of the foreign policy of states. It acts as a major source of foreign exchange earnings for developing countries. After World War II, developed economies have been providing hundred billions of dollars...
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...The Evolution of Development Perspectives The Evolution of Development Perspectives The study below is a review of different articles and the evolution of development perspectives. The study reviews the work of different authors and their perceptions about the evolution of development. A brief summary of the developed economic models has also been included, as most journals have mentioned these theories in their reviews. Development has come a long way over the last sixty years as both a scholarly discipline and as an enterprise. It became very significant after the Second World War and was considered the same as industrialization. Its objective was very clear: to raise incomes and offer goods and services to poor people, who couldn’t have access to them before (Rapely, 2007, p. 1). Evolution can be defined as the self-transformation of a system under study (Witt, 2002, p. 9). Six decades ago, depression and political developments had made first world countries rely on Keynesian models in political and economic circles. This further influenced third world countries whose confidence was supported by the emergence of structural economics in a bid to enter the industrial age. Since the beginning of the twentieth century, those involved with development studies tried to answer the question relating to what it means for the economy to be developed...
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...look to attracting multi-national corporations (MNCs) through low cost labor and lucrative tax incentives plans in the hopes of creating a mutually benefiting relationship between both parties. However bringing in these outside businesses poses a legitimate threat to elite special interest groups already existing and thriving in the current economic state. MNCs must due their due diligence when selecting a potential host country and then determine the best strategy to deal with these groups in order to mitigate as much risk as possible. Contents Abstract ……………2. Contents……………………………………………………………………………………………………………………………………. 3 Intorduction 4 Literature Review 6 MNCs must determine the political environment 6 Why elite special interest groups exist 8 Strategies for dealing with elite special interest groups 9 Corupption………………………………………………………………………… 9 Assisting host government in creating a functioning economy………………… 11 Methodology 12 Conclusion 12 References 16 Multi-National Corporation’s Strategies for Special Interest Groups within a Host Country Research of developing countries has shown that economic growth is closely correlated to its cash flows and the quickest way for developing countries to increase those cash flows is through attracting new businesses. Technology has played a major role in the globalization of business and has made it much easier for corporations to reach an entirely new market of customers previously out of reach....
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...Migration: Pre-requisite for rural economic regeneration? Journal of Rural Studies, 22(3), 354-366. According to Stockdale, though the gaps among rural areas’ economic development are becoming more and more obvious, it is still necessary to study the underlining relationships among different areas (Stockdale, A. 2006). This article mainly focuses on the space-time point of view to solve the rural economic problems. Because of urbanization and industrialization in the rural areas, the annual net income in eastern costal rural areas increased rapidly from 1978 to 2012. In addition, the gaps between each rural area could cause severe regional polarization. According to Stockdale (2006), There are three basic elements influencing the rural economy, which are location, donation, and governments policies. In this article, the author also mentioned that culture education and environment are quite important. The areas close to cites are in higher levels than those remote areas. This article also studied the neighborhood effect. The local nature resources are important factors affecting rural economics. What’s more, policy has great impact on the rural economy. Last but not least, education in the rural areas is also important. With the improvement of famers’ educational level, their income and living quality can be relatively increased. This journal views rural economics in a special point of view, that is from space-time aspect. I will use this article from a new aspect to support my...
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...The author posits two sides to the theory that Jamaica’s social problem, in particular values and attitude, is paramount to its financial and economic problem. The author tries to straddle both sides by giving views on each, but in my opinion, Jamaica’s economic growth does not lie in one or the other. It is not as simple as saying the government should focus on one and not the other. Focusing on education will create the middle ground that will fertilise the seed of economic growth. The article points to the hopelessness and despair the poorer citizens in the Jamaican society feel. This hopelessness sometimes lead to behavior that might seem degenerate and wrong to other parties in the society, but are normal and accepted in the Inner-City. The problem becomes bigger when these behaviors extend to the public environs of the society and to make matters worse actually witnessing these “immoral” behavior have become increasingly frequent. Along with feelings of hopelessness, the article also alludes to anger and frustration among Inner-City youths. This stems from their perception that the government has not provided any infrastructure or systems in place to enable their independence. The economy is the reason they behave the way they do, because it doesn’t provide any other options. But how will economic development change the behavior of a youth whose reality is twisted? If the government opens a factory in the middle of March Pen Road, will all youths and adults...
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...As a graduate student, I studied Economics, and I have always been very interested to learn more about the correlation between economic growth, income distribution and a flourishing society. In his paper on Economic Growth and Income Inequality, Gallo (2002) refers to the theory of the famous Political Economist Adam Smith who states that "no society can be flourishing and happy, of which the far greater part of the members are poor and miserable." (Gallo, 2002). He further explains that whenever there is a high inequality in income distribution, there is a decline in economic prosperity. This implies that countries should strive towards bringing equality of income among their population to ensure economic growth and the welfare of their nation. Income inequality however, is a fact of life and exists all over the world....
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