Abstract This paper provides an examination of the economicgrowth and standard of living in South-East Asia. The area examined in this article is Malaysia. It is argued in this paper that although economicgrowth is very high, it is essentially unsustainable. The writer points out that unstable economicgrowth will lead to greater social problems.
From the Paper "The recent history of Malaysia looks very promising. Economic growth and over all levels of prosperity appear to be increasing at a phenomenal rate. In Malaysia: The Rapidly Maturing Tiger Cub Joseph F. Coates states, "Malaysia is the single emerging Asian economy that...could likely develop into the next Asian 'tiger' that is, move closer in technological mastery and high-tech production to the more developed NIEs"[newly industrialized economies], according to the recent National Science Foundation report, Asia's New High Tech Competitors ... "
This paper examines the financial development of the Italian economy and measures its effects on its economicgrowth and compares it to the U.S. financial market.
Abstract The following paper compares the GDP growth rates of Italy and the U.S. measures the level of financial development made by both the markets. Finally it examines whether the economy making higher growth with respect to financial development has made higher economicgrowth. The reason for choosing the Italian economy for comparison is that it is a lesser developed financial market as compared to the United States.
From the Paper "There has been a lot of research already done on the issue of identifying a relationship between financial development and economic growth. The questions like does financial development spurs economic growth" To what extent does higher growth induce a reduction in the incidence of poverty? What can financial development contribute in reducing poverty? are continuously part of the economists debate. Generally it is believed that Economic growth is simply the result of refraining from current consumption. Within an economy, there are two general types of commodities. One are the consumption goods and the others are the capital goods. The consumption goods are for the purpose of general consumers use while capital goods are used for production of other commodities. When in an economy there is a lesser consumption of consumption goods by the households, a considerable part of the income is not spent and the result is in the form of positive net savings.?
Abstract This paper examines the elements that determine why some developing countries have managed to achieve higher rates of economicgrowth in the post-Second World War period while others have stagnated in comparison. The paper tests several theoretical frameworks and models developed in order to see if these can explain the differences, and if not, why not.
Tags: globalization, economicgrowth, Kenya, Malaysia, developing nation, capitalism
Abstract The paper looks at the theories of political and economic thinkers such as Adam Smith, Karl Marx, and Thomas Malthus, who have sought to explain which segments of an economy gain from economicgrowth. The paper discusses that their theories often cannot provide conclusive answers as Richard Lewis observes in his discussion of labor supply implications. The paper explains that for example, Lewis notes in "Economic Development with Unlimited Supplies of Labor" that in many economies, an unlimited supply of labor is available at a subsistence wage. Subsequently, if a neo-classical Keynesian model is applied to such an economy, erroneous results will be obtained.
Abstract The paper briefly reviews the relationship between economicgrowth and the development of poorer nations in Latin America and in Southeast Asia. The paper looks at a number of items, such as government administration, labour conditions, and social inequalities and determines that the new economicgrowth spurt has not benefited the great majority of South Americans or Southeast Asians.
From the Paper "Economic growth and national development do not always go together: An examination of Latin America and Southeast Asia It is often said that economic growth fuels socio-economic development in third-world nations. While it seems logical to argue that the creation of wealth will lead to the creation of a healthier and more prosperous society, this is not necessarily the case. In the following pages, some time will be devoted to the checkered impact of economic growth upon governmental administration in Latin America and in Southeast Asia."
Abstract "The following discussion serves as a presentation that describes the importance of Foreign Direct Investment in today's society. The writer notes that it is anticipated that FDI is a key promoter of economicgrowth. However, upon examination of a complex regression analysis, the writer points out that it is expected that FDI does not provide considerable support for the advancement of a given economy.
From the Paper "There are a number of critical issues related to Foreign Direct Investment (FDI) in today's economic world, and they provide many interesting perspectives regarding the influence of this strategy in the facilitation of economic growth and development. It is important to utilize a model that is primarily concerned with the utilization of FDI in less developed nations, where there is a greater desire for advancement and potential in a variety of economic settings. In order to identify the challenges of FDI, it is necessary to identify a number of statistical models for use, including the Augmented Dicky-Fuller test and the General Method of Moments model, which offer important indicators regarding the data related to FDI within the context of economic circumstances within different countries."
Abstract Foreign direct investment (FDI) has increased rapidly over the past years, especially after the promotion of the International Monetary Fund (IMF) and World Bank. The aim of this paper is to examine whether there is a positive relationship between FDI and the economicgrowth in the Czech Republic, with special emphasis on technology and productivity spillovers. It focuses especially on two hypotheses, in the form of a case study. The first hypothesis is that technological and productivity spillover from FDI can lead to an increase in economicgrowth in the Czech Republic. The second hypothesis is that the Czech government can be an extra incentive for economicgrowth. Formulas show different solutions to different questions in economicgrowth. The paper discusses the Keynes' GDP model, the purchasing power parity (PPP), as well as Solow's total factor productivity (TFP) and multi factor productivity (MFP) and Cob-Douglas elastic growth equation, that includes technology development into the equation.
Outline
Chapter 1: Introduction
1.1 EconomicGrowth and FDI
Inflows to the Czech Republic
1.2 Introduction to Relevant Theoretic
And Empirical Studies
1.3 Research Aims and Objectives
1.4 Chapter Review
Chapter 2: Literature Review
2.1 FDI vs. EconomicGrowth 2.1.1 Technology and Productivity Spill Over
Transfers through FDI
2.1.2 Employment Creation:
2.1.3 Capital
2.1.4 Export
2.2 Other Factors vs. EconomicGrowth 2.2.2 Government Expenditure
2.2.3 Population Size
2.2.4 Openness
2.3 Conclusion
2.3.1 Role of the Literature in the Dissertation
Chapter 3 Methodology
3.1 Research Methodology Method:
H.1.1) There Has Been Economic Growth in the Czech Republic.
H.1.2) Technology and Productivity
Spillovers Apply To The Czech Republic.
3.2 Conclusion
Chapter 4: Data
4.1 Data Collection
4.2 Data Analysis Keynes
GDP Equation
World Bank PPP Equation
Solow TFP Equation
Solow MFP Equation
Cob-Douglas Equation
Chapter 5: Conclusion
5.1.1 The First Objective Is To Give A
General Understanding of FDI
And EconomicGrowth 5.1.2 Second Is To Discuss According To A
Case Study Spillovers of FDI into the Czech Market
5.1.3 Thirdly, How the Czech Government
Can Be an Extra Incentive for EconomicGrowth 5.2 Boundaries and Constraints
5.3 Need for Further Research is Recognized
From the Paper "Multinational companies (MNCs) find it profitable to invest abroad because they own specific assets, one of which is the multinational's access to better production technology. (Caves, 1996) The role of transaction costs in the development of MNCs is seen as very important by McManus. Transaction costs can arise when transferring goods and or services, which can be a lot of money that is not necessary. When a MNC invests in a foreign market it overcomes those costs. (McManus1987) The relation between income inequality in Local Domestic Companies (LDCs) and FDIs is seen as a generally positive by Tsai. (Tsai 1995)"
Abstract This paper explains that the neoclassical growth model, also known as the Solow-Swan model, was considered the basis of any research on economicgrowth; however, the neoclassical model treated technological progress as an exogenous factor to the model, and this led to some puzzles that it could not answer. The author points out that the endogenous model that appeared in the 1980s stressed the importance of immaterial resources that had an impact on economicgrowth, resources such as human capital and R&D that improved technological progress and increased economicgrowth; the subsequent models that followed were included in the New Growth Theory trend and endogenized economicgrowth. The paper examines three cases of fiscal policy using government spending as growth determinants: increased government expenditures without raising taxes, tax reduction without reducing government expenditure, and increased government expenditure with constant taxes. Economic notation used.
Table of Contents
The Solow-Swan Neoclassical Growth Model
The New Growth Theory and Endogenous Models
Fiscal Policy and Government Spending as Growth Determinants
Literature Review
From the Paper "We should take a closer look at these statements starting from the Cobb-Douglas production function Y = AKaL1-a. The idea is to endogenize the exogenous factor A. In order to do so, let's frst write a Cobb-Douglas production function for each individual firm:
Yi = Ai Ki aLi 1-a. Concerned with the factor Ai, Arrows argued that this is represents knowledge and learning accumulated in the society throughout time with collective investments and is a common and free good to all firms. How is it accumulated? Arrow relates this accumulation to the aggregate capital in an economy by the function Ai = Gz,
where G signifies the capital accumulation, which will be used in a proportion equal to z by the firm. Following in the Cobb-Douglas individual production function, Yi = Gz Ki aLi 1-a. Note that in this equation, K, L and Y are individual firm-related, while G is economy wide, as we have agreed above. If we consider that at an aggregate level, G = K, then our equation becomes Y = K a+z L 1-a."
Abstract The paper analyzes the causes of economicgrowth and its negative and positive effects in light of the statement that 'economicgrowth is not in the best interest of the population, at least not in the long term'. The writer relates that he partially agrees with the statement due to the negative long-term effects of economicgrowth, such as income inequality and negative effects on the natural environment. The writer also partially disagrees with the statement for he considers economicgrowth to have numerous advantages for the population that include technological, legal, educational and political advancements.
Outline:
Introduction
EconomicGrowth Positive Effects of EconomicGrowth upon the People
Negative Effects of EconomicGrowth upon the People
Conclusions
From the Paper "Economic growth is an extremely wide concept and it can be looked at from numerous perspectives. For once, it can be analyzed from a generalist stand point, meaning the economic growth of the world. This basically affects the population in the meaning that it will increase their living standards, but it will also generate an increased consumption of the globe's natural resources. Then, it can be divided into geographical regions and understood as the growth of a country in comparison to another country. This represents the gap between developed and less developed countries, which is generally deepened by further economic growth. Finally, it can be seen as the growth and development of a company within a national or international context."
A study of the preconditions and policies required for economicgrowth and why some Asia-Pacific countries have failed to achieve sustainable long-term growth.
Abstract A study into why certain Asia-Pacific countries such as Cambodia fail to reach long-term economicgrowth and an explanation of the conditions and policies needed in an economic climate to achieve this growth.
The paper covers the following topics:
Preconditions for faster economicgrowth Policies for faster economicgrowth Asia Pacific LDCs (Least Developed Countries) & Cambodia
The paper is filled with examples and recent statistics of countries including USA, Australia, Taiwan, Europe, Japan, Cambodia, and Asia-Pacific LDCs in general.
From the Paper "According to McTaggart et al, there are several pre-conditions for economic growth. One of which is the existence of an institutional framework that is crucial to the creation of incentives. This institutional framework included markets (supply and demand), property rights, facilities for monetary exchange, as well as simple and transparent regulatory systems (1999: 32.7). Market prices send signals to buys and sellers that create incentives to increase or decrease the quantities demanded and supplied. Markets also enable people to specialise and trade and to save and invest. Property rights are the social arrangements that govern the ownership, use and disposal of factors of production and goods and services (McTaggart et al, 1999:32.17). They include the rights to physical property, to financial property and to intellectual property. The existence of property rights and their enforcement by the law provide people with certainty in their business dealings and hence they help provide macroeconomic stability and a pre-condition for growth."
Abstract Economicgrowth is not a universally accepted goal of economic policy. This paper examines the issue of "no-growth" policies and argues that while urban sprawl is destroying the American landscape and decreasing the economic viability of American communities, no-growth policies are not the answer. The effects of these policies, such as a decrease of affordable housing, are outlined. Recommendations for "smart growth" are explored.
From the Paper "Economic Growth is not a universally accepted goal of economic policy. Many individuals, corporation and agencies criticize continued growth as undesirable and unsustainable. Others see it as a necessary means of civilization.
"It is true that urban sprawl is destroying the American landscape and decreasing the economic viability of American communities, but no-growth policies are not the answer. The idea behind no-growth policies is to force new residential and commercial building activity and the subsequent economic development that follows into bedroom communities, when an area is ridden with urban sprawl."
This paper is a discussion of how and why economicgrowth was sparked in the Stone Age, specifically stating that climatic changes, geographic factors, and the growth of settlements with larger populations were the largest factors.
Abstract This paper discusses the economicgrowth that occurred during the Stone Age and aligns with Marshall Sahlins' view that the Stone Age was a society of affluence, stipulating that an affluent society is one in which material desires are easily fulfilled, as long as the needs of the people are few. The author argues that the primary factor in economicgrowth of the Stone Age was the climatic change that followed the end of the Ice Age. These climate changes caused food shortages, which in turn necessitated the development of tools for hunting. Later, in areas where geographic conditions were ideal, agriculture developed, which in turn spurred greater economicgrowth.
From the Paper "The Neolithic Age was preceded by the rise of agricultural activities in several Stone Age communities. In general, the Neolithic period is seen primarily as an economic phenomenon, and its essence is seen as consisting in the new phenomenon of agriculture (Thomas). Of course, this did vary from region to region. By 5000 BC, peasant communities existed in Palestine, Iraq and Iran, and soon thereafter they appeared in India, Egypt and the eastern Mediterranean (Hawkes and Woolley 8). On the other hand, in Europe hunting persisted for thousands of years, and change came much more slowly. Moreover, Thomas argues that the situation was quite different in southern Britain, and possibly also in other parts of Britain, and in Ireland. The point Thomas wishes to make is that 'the Neolithic in Britain was not characterized by a single economic system' (7)."
Tags: affluence, Ice Age, geographic location, food shortage, agriculture development
Abstract The prospects or lack thereof for economicgrowth in any nation in the world today is a major consideration at both the national and international levels. The increasingly interconnected nature of the global marketplace means that business has become a transnational affair. The paper shows that understanding the role that other economies play and their potential for growth is exceedingly important. Consequently, understanding the economicgrowth that has surrounded Ireland in the past two decades is important for the West in comprehending an investment opportunity within the West itself.
From the Paper "In recent years, investors have looked to Ireland as a possible site of great economic potential and growth. Investors are drawn to the nation for a variety of reasons. Some studies indicate that Ireland's equities are cheaper than in the rest of Europe's markets."
Abstract This paper discusses whether inequality is necessary for economicgrowth to occur. It questions whether, in low development countries, economicgrowth is the result of equal distribution of income and if per capital income must reach a minimum level before income inequality decreases. The paper also looks at whether countries of unequal income distributions experience slower growth than more "equal" countries. Additionally, the paper discusses whether governments should be implementing policies of redistribution in order to aid the poor.
Table of Contents:
Introduction
Common Questions & Models
Global Data - Inequality Distribution Issues
Deinger and Squire: The Third and Arguably Most Important Question
Other Macroeconomic Research
A Microeconomic Model
Conclusion
From the Paper "One would aim for the more optimistic view that equality and economic growth are compatible, because the current global state of regional poverty is a major problem, with no clear end in sight. This impresses an importance on determining a state whereby economic growth is possible alongside a simultaneous increase in the fortunes of the world's poor. However, researchers who have viewed the issue from afar tend to conclude that "the empirical evidence of the positive impact of greater equality on efficiency is still inconclusive" (Sharpe, 2003, p. 13). In other words, it may be naive to assume equality and economic growth is possible, particularly considering that much economic growth occurs in today's world based on the global phenomenon of inequality. However, researchers also conclude that "equally, there is little conclusive evidence of major negative effects on efficiency from equality" (ibid, p. 13), meaning that a relationship between economic growth and equality may be possible. It is up to further research to determine how this can be implemented in policy."
Abstract This paper examines how economicgrowth in developed countries is affecting individual well-being, justice within society and environmental sustainability. This includes how economicgrowth damages mental health, physical health and our feelings of happiness. The paper then considers the treatment of unpaid workers and the protection afforded to the vulnerable in society. The paper also considers the lack of concern for dangerous emissions and industrial malpractices such as the dumping of waste. These issues are considered with respect to John Rawls' vision of "Justice as Fairness" and Australian Prime Minister John Howard's speech entitled, "Getting the Big Things Right".
From the Paper "Political ideology in Australia and many developed nations emphasises the perceived importance of strong economic growth. Policy is focussed on establishing an economy where Gross Domestic Product (GDP) is rising, inflation and unemployment are low and foreign debts are zero. Much of this growth in GDP, which is the measure of total monetary transactions in the economy , is justified by a magical and unfounded belief that society is like a pipeline where money is sucked in at one end and wellbeing flows out the other . However, the world is a complex system that does not simply transform wealth into human wellbeing. The societies and environment in which we, as individuals, live is dynamic and affected by multiple factors. In 2004, Australian Prime Minister John Howard gave a speech entitled, "Getting the Big Things Right" in which he asserts that Australia would be a "fair and just society" based around a strong economy."
