INTRODUCTION
In order for any country to survive in comparison to another developed country they must be able to grow and sustain a healthy and flourishing economy. This paper is designed to give a detailed insight of economic growth and the sectors that influence economic growth. Economic growth in a country is essential to the reduction of poverty, without such reduction; poverty would continue to increase therefore economic growth is inevitable. Through economic growth, it is also an aid in the reduction of the unemployment rate and it also helps to reduce the budget deficit of the government. Economic growth can also encourage better living standards for all it is citizens because with economic growth there are improvements in the public sectors, educational and healthcare facilities. Through economic growth social spending can also be increased without an increase of taxes.
What makes economic growth so interesting is that it enables a country to do so much more than they are financially capable of to date, through economic growth a country can also help to lower the countries deficit. To date The Bahamas government have invested millions of dollars into the economy such as new roads and highways, schools, hospitals, hotels etc. If an economy makes an investment it is to improve and encourage growth within their economy. In my opinion economic growth is beneficial to any economy although there are a number of hurdles that must be crossed to really feel and see the economic growth. This research paper is to enable a better understanding of the economic growth and how The Bahamas has grown and investments that they have made to sustain the economies developments.
Economic Growth
According to the Exploration of Economies, eco...
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...adequate investment in human capital
• Weaknesses in promoting and supporting entrepreneurship
• Economic and social costs from high levels of inequality of income and
• Excessive borrowing
• Protectionism
Works Cited
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Koba, M. (2011, November 3). Gross Domestic Product: CNBC Explains. Retrieved from CNBC: EXPLAINS: http://www.cnbc.com/id/44505017
Riley, G. (2012, September 23). Tutor2u. Retrieved from http://www.tutor2u.net/economics/revision-notes/as-macro-economic-growth.html
Yarra Rangers Shire Conci, . (2012, 04 05). Retrieved from Yarra Ranges Shire Concil: vic.gov.au/Business/What_is_Economic_Development
“Jamaica’s a country of great dichotomy. On the one hand you have a tourist industry with great beaches and resorts, but on the other you have such great poverty and the violence that goes along with that.”(Michael Franti) In this paper, I will talk about the geography, the history of Jamaica, the people that live there now and that lived there in the past, the lifestyle of the society, and the society, like the government and economy.
The World Bank. The Road to Sustained Growth in Jamaica. Washington, DC: The International Bank for Reconstruction and Development / The World Bank, 2004. Print
7. Elgie, Stewart, and Jennifer Wesanko. "SP Updates." Sustainable Prosperity. 24 July 2013. Sustainable Prosperity. 11 Mar. 2014 .
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The objective of this paper is to make an economic development and economic growth comparison of these four countries. The comparison will be multi-faceted. It will compare monetary perform...