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Evaluate the ways in which governments maximise the benefits from Global Economic Development through their attraction of inward investment, development of indigenous firms, and organisation of their trading arrangements with other countries, paying parti - Essay Example

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The character and fabric of the present global economic environment is identified as being that germane to the era of globalization, where globalization refers broadly to the intensification and enhancement of flows of factors of production across international territories and…
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Evaluate the ways in which governments maximise the benefits from Global Economic Development through their attraction of inward investment, development of indigenous firms, and organisation of their trading arrangements with other countries, paying parti
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Extract of sample "Evaluate the ways in which governments maximise the benefits from Global Economic Development through their attraction of inward investment, development of indigenous firms, and organisation of their trading arrangements with other countries, paying parti"

Download file to see previous pages Not only does this imply a rise in the numerical magnitude or spread of markets for the products of any competent firm, it also implies a considerable surge in the number of options of acquiring inputs from, the rivalry among which surely indicates a potential for reduced costs of producing (United Nations World Public Sector Report, 2001). However, given the multidimensional asymmetries existing among firms from economies in different stages of development, manifested crucially in terms of productivity and efficiency differences, the access to these opportunities are by no means uniform thus creating potential inequalities. While firms from developed nations are naturally better equipped to utilize the opportunities presented by such integration of markets those belonging to developing or underdeveloped economies are not and thus for these latter group of firms globalization looms large as a threat by enhancing the possibility of being out-competed. Another point to note in this regard is that while globalization has increased the reach of global capital in the forms of Foreign Investment flows, direct or indirect which tag advanced technology and thus benefits of potential productivity growth, these are attracted towards economies that provide conditions favorable to maximization of profits. Thus, underdeveloped or developing economies, characterized by abundance of labor and lack of capital will have to compete with one another as potential hosts for foreign investments which can spike productivity growth and push the economy faster onto a trajectory of development. Another aspect to note is that sudden elimination of domestic borders of markets may trigger sudden instabilities for economies that are not yet strong enough to handle being entirely open to the world market (Caves, Frankel and Jones, 2007). All of ...Download file to see next pagesRead More
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