Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Long run economic growth and development - Essay Example

Comments (0) Cite this document
This essay critically evaluates the impact of the financial liberalisation on the economic growth of developing countries. The theoretical foundations, concerned with the development of an economic system, are considered. Development patterns of one country can not be simply emulated by other ones…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.7% of users find it useful
Long run economic growth and development
Read Text Preview

Extract of sample "Long run economic growth and development"

Download file to see previous pages This paper presents a modern comprehensive analysis of the models of growth, explores main drivers of growth, and discover the mechanism of the influence of the financial liberalization on the long-term economic development of a country.
The long term economic growth and development for any country or region in the world is an important subject for all students of sociology, economics and even history since economic development affects all systems that can be found in a political entity. Even in recent years, countries such as Japan that had been destroyed by the ravages of the Second World War and had little to go on in terms of natural resources were able to become economic giants and global economic players. However, such developments could not be emulated by other countries in Latin America and Africa for a multitude of reasons.
It seems that labour, economic production output as well as national saving levels are all drivers of economic growth but the overall factor which produces these variables in different quantities is government policy and the economic system that is in place in a given country. A country may follow the practice of becoming more liberal in financial terms and having less stringent controls on the way in which entrepreneurs acquire capital but this does not necessarily mean that economic growth will happen the way the government wants it to happen. Financial liberalization has several advantages and disadvantages which are directly connected with the needs of developing countries.
...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(“Long run economic growth and development Essay Example | Topics and Well Written Essays - 2750 words”, n.d.)
Long run economic growth and development Essay Example | Topics and Well Written Essays - 2750 words. Retrieved from
(Long Run Economic Growth and Development Essay Example | Topics and Well Written Essays - 2750 Words)
Long Run Economic Growth and Development Essay Example | Topics and Well Written Essays - 2750 Words.
“Long Run Economic Growth and Development Essay Example | Topics and Well Written Essays - 2750 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Long run economic growth and development

Long-run U.S. Economic Growth

...? Long Run US Economic Growth Economic growth of a nation is measured by the increase or growth in Gross Domestic Production (GDP) or Net National Production (NNP). GDP for instance, refers to the value of all goods and services produced within the domestic boundaries of a nation in a certain time period. An increase in economic growth is supposed to raise the average standard of living of the people. While studying economic growth theory, it is important to differentiate between short term and long term ups and downs. Potential GDP in a nation is determined by the aggregate labor, capital and technology available and is often identified as the long term growth (Taylor, 125). Real GDP moves around the potential GDP. This is how GDP can...
20 Pages (5000 words) Essay

Growth, Development, and Economic Transformation

...? Growth, Development and Economic Transformation inserts his/her Inserts The long run implication of Kuznets' stylized facts on economic growth is that economies that go through the process of industrialization particularly witness massive rural-urban migration. The prevalence of capitalist mindset suggests that the owners incur profits at the expense of laborers which cause a sharp gap in the rural-urban wages, leading to sharp inequalities. As a result, individuals shift to cities to reduce this inequality which would ultimately increase the population in urban areas as compared to rural. This would result in lesser inequality when a particular level of GDP per capita is achieved because of the trickling down of growth benefits...
3 Pages (750 words) Essay


TABLE OF CONTENTS Introduction 4 Limits To Growth 4 Mathematical Analysis 5 Role And Impact Of Technical Advancements 7 The Quality Of Life 7 Challenges 7 Transition To A Sustainable Economy 8 Conclusion 8 References 10 1. Introduction Barack Obama (27 March 2008) said, “I think all of us here today would acknowledge that we’ve lost that sense of shared prosperity”. With the escalating gap between the economy of nations and amongst the individuals of same nation, prosperity is declining. The definition of prosperity needs to be revisited considering the world’s limitation of resources. According to Jackson (2009), global economy is constrained by finite ecological limits. The flourishing of human society in context of ecological...
6 Pages (1500 words) Essay

Factors that affect the long-run rate of economic growth

...? Microeconomic Essay Factors that affect the long-run rate of economic growth When factors of production are increased in terms of quantity and quality, there is a resultant Long-run economic growth. These factors of production are: natural resources, capital resources, labor resources and Entrepreneurship. The pace at which long economic growth is realized is referred to as the long-run rate of economic growth. Natural Resources These are substances that occur naturally in nature and are beneficial for the growth of economy. Examples include timber, mineral deposit, water, air and land. A well endowed country in terms of the natural resources will realize a faster economic growth rate provided all the other factors are constant...
6 Pages (1500 words) Essay

Thailand's Economic Development and Growth

...?Thailand: Economic Growth and Development Table of Contents Table of Contents 2 4 Literature survey 6 Economic growth 6 Education level 7 Population Growth 8 Income Inequality 9 Research Methodology 10 Research Philosophy 10 Research Approach 10 Research Strategy 11 Research results and analysis 11 Economic growth 11 Health 14 Literacy 15 Incidence of Poverty and effect on income inequality 16 Findings 18 Limitations 19 Implications 19 Conclusion 19 Reference List 21 Abstract The main purpose of this research paper is to study in detail the economic growth in Thailand and to find out the possible factors that have attributed to this growth. The main research question aims to find out the impact of economic growth on three main indicators...
13 Pages (3250 words) Research Paper

Businesses in the Long-run

... will be used to produce a larger quantity of output within the same premises for greater profits. This means that in the long-run, a firm is able to increase its efficiency through increasing the inputs. On the other hand, when inputs are variable, the firm will only maintain the inputs that can reduce the cost of production to improve profitability. Market expansion is significant in leading to a fall in the long-run costs of a business. This is because as new industries are established in a particular region, the prevailing industries are likely to expand to match the emerging industries. Development of industries concentrated in a particular region attracts professionals in the appropriate fields of production; hence it becomes easy...
6 Pages (1500 words) Essay

Impact of currency devaluation output growth in the long run

The other group of researchers argues that continuous depreciation or devaluation is an indicator of economic weakness therefore; in the long run this relationship is no longer positive. In order to evaluate the early research work that studies the relationship between currency devaluation and output level, the literature review has been created. In this section, the research work of various researchers will be discussed and their methodologies and findings will be also reported to gain a significant insight to the topic under investigation.
Various economic models such as Keynesian model argue that devaluation of currency has an expansionary impact on domestic output (Lai & Chang, 1989). According to the orthodox view deval...
5 Pages (1250 words) Research Paper

Chinese Economic Performance in the Long Run

They exported tea and porcelain products to various countries but after the 16th century, they lost their position on account of the closed-door economic policies of their governments. By the 1950s, China was producing only 10% of the world’s GDP. However, with the formation of the People’s Republic of China, there was a concentration on export-oriented growth and China opened doors to the world.

Early Chinese was an agriculture-based economy. The economy was mostly centralized and was dominated by the bureaucratic class. The bureaucracy and gentry of imperial China were quintessential rent-seekers (Maddison 2007). The bureaucracy was totally controlled by the various rulers but the bureaucrats had full fre...
5 Pages (1250 words) Term Paper

Economic Development Stimulates Population Growth

...Economic Development Stimulates Population Growth The relationship between economic development and population growth goes in two directions. Population seems to grow geometrically while food supply is arithmetical. Higher economic development increases population by motivating earlier marriages and high birth rates as well. Economic growth slows down mortality rates by elimination of factors such as malnutrition and insecure health standards by the elites. On the other hand, high population dispirits economic development through retreating returns. The dynamic relationship between economic and population growth is based on the Malthusian model, implying a fixed population in the long run equilibrium (Becker 146). The logical explanation...
4 Pages (1000 words) Essay

Higher Education and Long-Term Economic Growth

As the study highlights the most vastly acknowledged gains from postsecondary learning are the economic advantages that individual graduates obtain in terms of better lifetime earnings. However, it is simply the individuals who have gone to college who benefit. The greater community also gains. Not only do graduates are increasingly taxed  on their characteristically greater earnings, but they in addition tend to have greater health, depend less upon the government social plans, are less probably to be confined, and are more possibly to engage in civic activities. In reality, each form of benefit amounts to others, creating a flow of privileges from postsecondary learning.  Many researches underestimate the privileg...
10 Pages (2500 words) Essay

Marks and Spencer Organizational Development Process

Procurement of resources is made globally from over 2000 suppliers. More than 75000 employees are on the rolls of the company. In the retail clothing sector of the UK market, the company has a growing market share. Online business strategy is also adopted by them. (About us, 2009).

Through customer-focused production and marketing techniques, the company is aiming to attain a world-class position in the retail market field. Along with offering of highest quality products, customer servicing is also ensured by them for attaining loyal customer base. “Our brand values – quality, value, service, innovation and trust – are more important than ever. Our commitment to these values sets us apart from our comp...
7 Pages (1750 words) Case Study

Cognitive Development in Childhood

The significance of cognitive development among children lies in the fact that the children learn, acquire and develop cognitive and social skills along with other interpersonal skills that help them grow as competent individuals.

This paper addresses the key issues of the development of cognition in children between three to five years. In this context, various theories of cognitive development are discussed briefly along with special reference to the cognitive theory of Piaget. The paper also looks carefully into the relevance of cognitive development during this age upon the development of other areas and skills of the child.

When it comes to the cognitive development of children, the name of Piaget is und...
7 Pages (1750 words) Assignment

Bernard Madoff : A Scapegoat of the Economic Crisis

Darwin was condemned and treated with contempt by the Church for proposing the theory of evolution that linked all living matter in the earth, including humans. In the case of Bertrand Russell, he was imprisoned as a conscientious objector, for expressing his opposition to British participation in the First World War. These are typical examples of people being wrongfully punished when they were guilty of no crime or fraud or misdoing. It would be highly improper to associate Bernard Madoff with the aforementioned luminaries, for he was truly guilty of carrying out the biggest financial fraud in modern history. At the same time, it would be simplistic to classify him as a victim of the contemporary judicial system. The truth, in fa...
6 Pages (1500 words) Assignment

Economic Models: The Free Market and The State Owned System

The free market concept is mainly a theoretical concept as every country, even capitalist ones place some restrictions on the ownership and exchange of commodities (Free market economy). Therefore, the term free-market economy primarily means a system where the buyers and sellers are solely responsible for the choices they make. It gives the buyers and sellers the power to do business without being afraid of any regulations and intervention by the state. Hence, a free market gives the absolute power to prices to determine the allocation and distribution of goods and services (Free Market Economy). The pricing mechanism is in turn, driven by the forces of demand and supply of goods and services. Demand and supply of...
9 Pages (2250 words) Case Study

Economic Analysis on BMW Cars in the US Car Industry

Mini and the 1-series rapidly grew at a much higher rate through 2008. Since the early days of the new millennium, BMW has been one of the first automakers to utilize flexible factories in which more than one vehicle model could be produced at the same time. This enabled the company to meet shifts in market demand more effectively than BMW’s competitors could. BMW challenges to retain its market position in the international market for luxury cars. Many automakers, such as Hyundai with its Genesis sedan or Nissan's Infiniti brand are increasingly successful in realizing higher margins earned on luxury vehicles. BMW is rated behind luxury brands such as Lexus, Porsche, Mercedes, and Infiniti for these reasons

1. Th...
7 Pages (1750 words) Case Study

Models for Organizational Development

In the ’80s, the economy was at its peak and the business fashion history- including women who dressed in corporate attires- along with a revival of feminism was at its threshold. In the ’90s, a concordance of fashion wears was embodied in the rise of designer clothes- a relapse of the vintage yet at the same time a retaliation of the corporate identity of the past decade. All things held equal, there really is no way to become better except for innovation, innovation, and innovation. I firmly believe that to become a leader throughout the changing times, one has to change him or herself, through innovation.

A sense of innovation can only be acquired through knowledge of oneself, and I myself believe that se...
8 Pages (2000 words) Book Report/Review

Globalization and World Economic Forum at Davos 2010

... economy and national culture (Mittelman, 2000). World Economic Forum and Davos 2010 The theme of this annual meeting is to improve the state of the world and rethink, redesign and rebuild. This annual meeting was to rethink the business models, financial innovation and risk management. This rethinking is sought to trigger redesign attempts at the institutions at the national and international levels. The aim of redesign is to close the gaps in governance, prevent systemic failures and restore growth. This effort requires common vision, collaborative innovation and public-private partnership to succeed in the long term. The prerequisite would be to rebuild trust. The meeting focused on the following six areas of enquiry: 1. strengthening...
7 Pages (1750 words) Coursework

Organizational Change and Development at IBA

The results revealed that the employees had no incentive for working in an innovative way and they were not compensated in the right manner. The clients were not given any incentive to return, therefore, most of them went to the competition. The employees working over three years were given special benefits if they sign a contract to work for the organization for at least 3 more years. Employees were given training sessions for better customer experience. Informal dinner or lunch each was scheduled each month in order to enhance the level of communication in the organization. Ten months after the implementation of these changes, the consultants returned for evaluation and found that the results have shown a successful change in th...
7 Pages (1750 words) Case Study

What Makes Role Play Essential in Kid's Development

Grown-ups habitually recognize, directly after meeting someone, what form of communication is about to take place, and what the limitations restricting the communication will be (Sutton-Smith & Ariel, 2002). Because role-play conversation takes place in a fantasy, staged world, it is less hampered by physical and social reality.
Between the ages of 5 and 7, children gain a broad array of social and cognitive abilities (Amsel & Byrnes, 2002). Psychologists have discovered that these are formative years for the growth of mind theories, the growth of the ability to construct and represent stories, the growth of social cognition, the growth of the personality, the growth of advanced fantasy play, and the growth of intersu...
9 Pages (2250 words) Case Study

The 1846 Invasion into Mexico by the U. S.: The Political and Economic Forces that Brought about the Invasion

Some of the territories led to a war with Mexico from which the United States emerged victorious, expanding its territories and decisively establishing its dominance in North America.

President Andrew Jackson led an example of an administration that set the stage for the way in which James Polk would lead. In 1817, as a still yet military leader, Jackson led the United States into the first of three conflicts with the Seminole Indians from which the acquisition of Florida from Spain would be negotiated and finalized. The situation with Spain was tenuous and should have been dealt with in a diplomatic and cautious manner, but in 1817 President Monroe wrote a letter to General Jackson stating that “Great interests...
8 Pages (2000 words) Article
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Long run economic growth and development for FREE!

Contact Us