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Economic Development and Crises Term Paper

… Economic Development and Crises

The modern day economy is currently confronted with the most challenging contexts since the 1929-1933 Great Depression. The contemporaneous crisis commenced within the United States real estate sector and gradually spread out across the rest of the industry sectors, as well as across the rest of the world.

Thomas Palley recognizes the role played by the real estate bubble and the excessive debts of the American population, but argues that the crisis was also generated by a series of macroeconomic forces, such as the inadequate economic model implemented at the basis of the U.S. economy growth, or the inadequate policies which regulated the economic community. At a general level, it is observed that the modern day financial crisis has been based…. [read more]


Economic Development Is a Key Term Paper

… System of incentivizing workers to increase productivity was also introduced.

(Chenery) in a comparative framework for assessing performance of China in comparison to other developing countries says that China has achieved the adequate industrial structure and investment structure of a middle-income country. The author says, "In the case of China, industrialization has proceeded much further than is typical for countries of its income level." The author also attributes slow population growth in the country as a factor to achieve economic growth. Moreover he gives credit to the autarkic policies followed over three decades in China for its industrial growth.

China now has a per capita gross national income of about U.S.$4,260 (World Bank). It stands in the queue of upper middle-income countries. Now the country…. [read more]


Economic Development Essay

… Economic Development

The country I have selected is Vietnam. Vietnam is a rapidly developing country, but still predominantly underdeveloped, with a GDP per capita of just $2,800. The global economic crisis is expected to reduce Vietnam's GDP by 4-5% this year, as the country is highly dependent on exports. The economy is still largely dependent on light industry, which accounts for 42.7% of GDP. Services account for 38.4% and agriculture 19%.

Vietnam operates as a mixed economy. Still under Communist rule, Vietnam suffered decades of stagnant growth due to war and then a rigid command economy. Once financial support from the Eastern Bloc dried up, Vietnam's economy struggled. Finally in 2001, they followed China's lead in opening up their economy. The company joined ASEAN, signed…. [read more]


Economic Development and Opposing Theories Research Proposal

… ¶ … Economic Development and Opposing Theories

In the United States, current economic crises have left many states, governments, and individuals worried about unemployment, retirement, and bankruptcy. While this is a federal program, it translates to the states. In many ways and for many reasons, states try to develop their economies. This is most obviously seen during years when the governor is up for election. With policies to decrease unemployment, encourage college attendance, and encourage firm development, governors and their state advisors attempt to increase economic development. For decades, politicians have been theorizing about state economic development, how it takes place, why it takes place, and how it can be classified, among other research questions. This study will examine four relevant studies in the field…. [read more]


Analyzing the Economic Development of a U.S. City Term Paper

… ¶ … economic development of a U.S. city

The Economic Development of New York City

New York City is one of the most important cities in the world, its importance being granted by its numerous population and history, and by its influence on global level. The influence of New York is exerted in various fields, like commerce, finance, media, culture, art, fashion, research, education, and entertainment. In addition to this, the United Nations Headquarters is located in New York, which allows the city to present itself as an important international affairs center.

The city is located in the state of New York, on the Atlantic Coast of the U.S. The city is also famous for its neighborhoods, depicted in numerous films and TV series. These…. [read more]


Economic Development Term Paper

… Economic Development

The objective of this work is to define precisely what economic 'development' is through making an examination of the relationship that exists between economic development, economic growth and income. The question that will be answered are those of: "How would one characterize the importance of UNDP's Human Development Index (HDI) and the UN Millennium Goals (MDGS) This work will also discuss and analyzes some of the characteristics that are inherent in rapidly growing economies.

ECONOMIC 'DEVELOPMENT' DEFINED

Economic development is the term used to refer to the "development of the economic wealth of countries or regions for the well-being of their inhabitants." Economic development is evidenced when an increase in living stands is sustainable which "implies increased per capita income, better education and…. [read more]


Trade Issues in Economic Development Term Paper

… Trade Issues in Economic Development

This report attempts to present insights into trade issues as they relate to economic development, globalization and developing countries. Today, globalization and world trade are being spurred on by new advances in technology, finance and social understanding. Consider the new advantages of our global banking system. Today banks have the capabilities to move billions of dollars to any locale in the world in mere milliseconds. Our oceans are traversed by multi-level cargo container ships and super oil tankers in weeks as opposed to months. If they are not fast enough, the option of flying a cargo plane to any point in the world is just a satellite or cell phone call away.

Our highly competitive and globally centered market place…. [read more]


Relationship Between Population Growth and Economic Development Term Paper

… Economics

Relationship Between Population Growth

And Economic Development

This report aims to discuss some of the relationships between population growth and economic development. Economic growth is an objective of every nation in this highly globalized economy. Every African, Asian and European nation would love to mimic the United States and China in the sense of economic production. As each nation attempts to grow their own Gross Domestic Product, one would think that each and every citizen of those growing nations would directly benefit in direct proportion to growth. The Gross Domestic Product has most often been used as one of the world's economic growth and well-being indicators. The Gross Domestic Product is used because it represents a total value of all products and services bought…. [read more]


Economic Development the Failure of the World Term Paper

… Economic Development

The failure of the World Bank to predict the NIC crisis of the late 1990's is mostly blamed upon a misperception advocated by economists and political scientists of the West. This misperception entails that the high growth rates experienced by Asian countries since the 1960's led to the assumption that the economy in these countries would not only remain stable, but would continue experience extreme growth far into the future. This is an assumption that was remarkable similar in all sectors of the academic world, although some held that the economic growth was related to free markets, while others held that the interventionist state should receive the honors for the phenomenon.

The infatuation of the Western world with the high growth of the…. [read more]


Economic Systems of South Korea Term Paper

… The government also fostered development by allowing South Korea to be a destination of several global manufacturers. The government also provided impulses for foreign and local investors through expansion of its network of free trade agreements. This brought change to the country and allowed the economy to grow.

Though South Korea can be seen to rely greatly on exports it makes to emerging countries, the country also reduced its reliance on exports to Japan. This can be seen in the decline of exports to Japan from 11% in the year 2000 to just about 6% in the year 2010. South Korea also decreased its reliance on imports from Japan though they still stood at roughly over 15% in the year 2010 which indicate that Japan…. [read more]


Shareholder Capitalism as a Model Research Paper

… The opportunity to easily remove equity made a wealth effect-driven increase in consumer consumption, raising housing as well as retail sectors whilst producing increasingly risky amounts of household bill (Greenspan and Kennedy 2008). As soon as house costs inescapably corrected course, countless homeowners saw themselves owing much more on their house than it had been worth, as well as mortgage non-payments made a cascading financial shrinkage that rapidly dispersed all over the world. At this moment, approximately one mortgage in 4 in the U.S.A. is underwater (i.e., a home is worth lower than the total amount left over the loan)-a figure likely to rise in the near future (Davis, 2010).

The flooding of this real estate bubble as well as its attendant after-effects revealed the…. [read more]


Role of Private Investment on Economic Development in Iraq Literature Review

… Role of Private Investment on Economic Development in Iraq

Private investment in developing countries

An overview on early Empirical studies

In 1980s, the developing countries encountered some increment in their development behaviours with debt crisis, which affected the formation of capital. Concurrently, the affected countries were transforming from the post-era to a structural reform efforts. In mid 1980s, the developing countries adopted the reform programs within the new paradigms (Serven&Salimano, 1993) & (Jaspersen, Aylward&Sumlinski, 1970). Consequently, this led to the formation of environmental private sector that highly relied on the existing market. The formation and implementation of the new policies affected the availability of response to the private investments. The debt crisis lowered the private investments within the developing countries and this disheartened them. The…. [read more]


Chaebol Korea's Economic Development Term Paper

… Chaebol firms are mostly own by family units, for example. While this is changing, it is still found that a significant number of top executives in chaebol are related to the founders of these firms.

The system however currently finds itself in a difficult economic situation. The growth fostered by the government during the 1950s and 1960s has been stunted by the economic climate of later years. The devaluation of the won (the Korean currency) for example resulted in considerable losses, including the debts from expansion programs during the 1990s. The apparent recovery from the crisis is seen as deceptive by analysts who continue to call for reform in the chaebol. One of the suggestions for such reform is the transformation from technology-importing to a…. [read more]


Foreign Aid and Economic Development Thesis

… They discovered concrete evidence that foreign aid would boost economic development. The three authors asserted that, developed countries should provide the most favorable aid to developing nations to boost their economic development (Barro; 1990, Barro; 1991 Barro; 1996).

Conclusion

Foreign aid plays a significant role in supporting growth processes within developing countries. The empirical evidence it produces is intricate and mixed. Most of the developing countries rely on the help they obtain from donors in order to carry out most of the projects they have within their countries. On the other hand, interested donors dispense their financial assistance but with conditions. This is to ensure that accountability level is the key thing while accounting for the finances dispensed. In addition, there are other measures that…. [read more]


Poverty and Economic Development Essay

… In other words, participate actively in making decisions that affect their life chances and engage the process of their empowerment, which are essential to improving their material conditions.

Trade and Investment

Trade and investment is very critical constituent of economic growth and a significant foundation of creating jobs and sustainable growth of the economy for Africans countries and both communities and producers. Despite the economic development which is visible in seventeen countries across the Africa continent for the last decade, most sub-Sahara Africa countries have done the necessary requirement to benefit from worldwide trade. During 1980, sub-Sahara Africa countries was having 6% share of the total global trade. But according to Adejumobi (2004) in 1998 the share of the total contribution of sub-Sahara Africa to…. [read more]


Economic Crisis Policies US Current Research Paper

… S. money market back to its operations by assuming that U.S. financial system had enough liquidity to expand the market operations. Fed Reserve accepted the less credit worthy securities as collateral and held safe U.S. treasuries to keep the money supply constant. These were later termed as "toxic waste removal" policies.

Fed Reserve introduces another set of program by taking over multinational insurance company American International Group (AIG) on September 2008. This program was implemented through option of purchasing asset backed commercial paper from money market mutual funds. This policy was termed as Quantitative easing by Bernake.

Discussion

First the U.S. economic crisis was only of real estate and later on it developed into global financial crisis. If it is to be judged that Fed…. [read more]


Economic Development and Trade Term Paper

… (Justin Lin, 1998)(i)

To further the economic development and trade the developed countries can also be of significant help to the developing countries. The international institutions and agencies can facilitate the process of power and wealth diffusion. The development efforts made by the International institutions should be focused on helping the start up and small businesses, of the developing countries, finance themselves so they may gain power in comparison to the discriminatory governments of these countries and not support such governments which try to centralize power and wealth in the hands of a limited group. For most of the businesses in the developing countries as well as the international institutions any such move will be difficult because usually it is usually a legal requirement that…. [read more]


Economic Growth GDP Comparison: Italy Essay

… Economic Growth

GDP Comparison: Italy vs. The United States

The global economic crisis has been affecting almost all of the nations of the developed world. However, despite the fact that the source of the downturn is largely thought to have begun in the United States credit market, all of the countries of the European Union have become mired in the recession more quickly and more deeply than the nation from which the crisis originated (Pfanner 2009)."The economy of the 16 countries sharing the euro currency declined by 1.5% in the fourth quarter, according to the European Union's statistics office. That is even worse than the 1% decline in the United States economy during that period, compared with the previous quarter" (Pfanner 2009). On an annualized…. [read more]


Economic Situation Term Paper

… In brief, the nation's unemployment rate still hovers just under 8%; the CPI was a -.3 in November 2012, then 0 in December 2012; January 2013 U.S. Import price index moved from -.5 in December to .6, but 4th Quarter productivity statistics are down -2.0 while the employment cost index for 4th Quarter 2012 remains about a steady .5 (Economy at a Glance, 2013).

Still, on an overview, the U.S. economy is the world's largest national economy with a nominal GDP at almost $16 trillion, or about 25% of the global nominal GDP. Growth is sluggish at 1.5% with inflation at 1.7%. Federal, state and local governmental spending account for about 30% of the gross domestic product, and the federal government's debt rose another $1.09…. [read more]


Economic and Trade Development Thesis

… Economic and Trade Development

The economic situation of Western Europe was faring extremely well in the first thirteen years of the 20th century following the Industrial Revolution. However, the growth of Nazism and Fascism followed by the World Wars and the Great Depression plunged most of the major European states particularly Germany and France into a seemingly irretrievable economic situation. What happened in Western Europe after the Second World War was an exceptional case of economic turnaround with a remarkable and swift pace of transformation to an industrialized society. This exceptional growth lasted only until 1973 but in this short span of time, it placed the Western Europe economy at par with other industrialized economies of the world despite the phenomenal destruction of men, materials…. [read more]


European Economic Crisis -- Greek Term Paper

… Recent OECD data show that Greece is among the least recipient of foreign direct investment capital in Europe. The cold attitude of Greece in its business dealings with countries all over the world reduces their chances of receiving foreign aid for paying out the debts (Abboushi 2012).

Inefficiencies in the Public Sector

The real appreciation of wages in the public sector and the increase of employees in the public sector of Government and municipalities led to a reallocation of capital and labour away from the private sector and especially from export oriented sectors leading to the loss in competitiveness and the increase in the current account deficit (Kouretas, Georgios and Vlamis 2010). The private sector received a setback, as it was immensely dependent on government…. [read more]


Korean Financial Crisis Research Paper

… They also conclude that a larger foreign bank presence associates with a lower profitability and a higher provisioning for bad loans by domestic banks." (Jeon and Miller, 2005)

V. The Asian Financial Crisis Impacts on Korea

The Asian financial crisis is reported to have "product the dramatic domestic economic crisis in Korea" (Jeon and Miller, 2005) however it is stated, "more fundamental factors also added to its severity." (Jeon and Miller, 2005) Specifically too much investment and borrowing overextended the corporate sector and commercial banks are reported as having "overused short-term foreign lending as a source of funds." (Jeon and Miller, 2005) Lastly, the "lack of transparency of balance sheets, income statements, and management practices all led to a crisis of confidence in Korean institutions."…. [read more]


Asian Financial Crisis of 1997 Essay

… This process of stability helped to fortify the intra-regional financial sector policy coordination, proof of which is consistently seen in the ongoing development of regional cooperation and plans for the macroeconomic screening and overall liquidity support (Park, 2013). Even so, there are significant variations in the amount in which the area's domestic capital markets have grown and meshed with others in the area (Park, 2013). Essentially, this means that stability and maturation have reached the area with finality and that there are yet a ways to go. That's still feasible: as long as the area commit to consistent development, integration and maturation, the region will evolve in an organic manner.

Thus, the Asian Financial Crisis was a caused as a result of a variety of…. [read more]


Financial Crisis Essay

… Rather the market was the result of a conscious and often violent intervention by the government in society for non-economic reasons." (p.331).

The invisible hand is only part of the equation. For business to succeed and for corporations to effectively compete and exist with one another in a peaceful way, you need government intervention. The history of economics has often shown this "conscious and violent intervention by the government." It is this that has propelled society forward.

According to Polanyi, therefore, recession can be seen as failure of the state / government to monitor its economic and business operations. Deficiency needs to, and can be, corrected, and it is up to the government to do so. Just as the government has intervened in the past…. [read more]


Macro-Economics Macro Economics There Are Numerous Issues Term Paper

… Macro-Economics

Macro Economics

There are numerous issues that governments must refer to when developing the strategy that the budget must be based on. Such issues are represented by fiscal and monetary policies. Fiscal policy is represented by the strategy developed by the government regarding the expenditure and revenue collection that are intended to be used as instruments of economic influence by the state. The most important objectives of the fiscal policy is to determine a situation of economic stability that can be reached by the control of interest rates and spending of the government. These objectives can be reached by fiscal policy instruments like government expenditures and taxation.

The government can influence the country's economic situation by modifying the level and composition of taxation and…. [read more]


WTO as the Worldwide Economic Essay

… Cost to Consumers

The negative costs of stagnant negotiations and an ineffective Doha round to consumers is both indirect and direct. The direct costs of course come in higher priced goods because those firms with comparative advantage may be denied entry into the home market (Guzman & Pauwelyn, 2009, pp. 11-15). The indirect cost is centered on the loss of entire markets due to unsettled disputes among nations. The economic costs of failed negotiations which weaken the WTO's ability to remain the premiere arbiter of trade disputes will introduce gross inefficiencies into the global market. The kinds which are not easily resolved as nations begin to identify alternatives to the dispute resolution process of the WTO. The WTO's dispute resolution process will not be available…. [read more]


Economics - How China's Economy Affects Global Essay

… ¶ … Economics - How China's Economy Affects Global Economy

The label "Made in China" is popular across the entire globe. The reason behind this popularity is represented by the simple fact that, due to an increased population density and low-cost labor force, China has been able to attract numerous foreign investors, who have their products manufactured here and then shipped off to other global regions. Exports from China have as such increased and generated a strengthening of the country's competitive advantage, which would come to impact the entire global economy -- a situation feared by the Western. In the aftermath of the financial tsunami, a question is being posed relative to the future of the Chinese economy.

Introduction

Globalization has offered the most adequate…. [read more]


Economics of Strategy Term Paper

… ¶ … economic crisis -- bankers to blame?

Be it resolved that bankers in developed economies are responsible for the global economic downturn and have behaved without moral integrity.

To blame bankers for the global recession that has been steadily degridating assets values globally by the trillions of dollars from 2007 to 2009 (Corden, 2009) is to miss the broader and far more significant factors. The last series of scandals including Enron, Tyco and many other corporations had as their catalyst the complete lack of insight and compliance initiatives on the part of the U.S. Federal government. The same could be said of the world's governments as well. In reaction to the astounding lack of compliance with regard to financial institutions and the publicly-traded corporations…. [read more]


Marxian Economics Karl Research Paper

… The variable capital reflects the labor force, which produces value through its own input, as well creates excess; its value varies across time and space.

(4)

The concept of the surplus value reveals the generation of profits, as what is resulted from the difference between the resources invested and the final results of the process. According to Karl Marx, who also assesses the surplus value through the lenses of labor:

"The consumption of labor power is at one and the same time the production of commodities and of surplus value. […] The surplus of the total value of the product, over the sum of values of its constituent factors, is surplus of the expanded capital over the capital originally advanced" (Munro).

In the most simplistic…. [read more]


Human Capital in Latin American Term Paper

… Likewise, labor force or manpower is considered as an asset to the economy and its return is their contribution to the economic development.

Defining Development:

The concept of development originates from the notion that people are enjoying improved standards of living. The improved standard of living includes parameters like per capita income, the poverty level in an economy, infrastructure availability and utilization, housing, healthcare, water and sanity services availed, education, spending and consumption which is sometimes classified beyond basic necessities, the sources of entertainment and the list continues. Thus it comprises everything that defines an individual living pattern and the facilities availed by him/her. The concept of health, food education, housing employment, cultural values, and environmental concerns all these are part of welfare of the…. [read more]

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