Hong Kong and Venezuela (Graphics not availalbe) Hong Kong has built economic strength from an impoverished economic infrastructure, since the 1950's, at the same time as Venezuela's economic health has declined despite its relatively strong economic structure. Figure 1 shows that in 1950, Hong Kong's income per person was approximately half of Venezuela. During that period, Hong Kong came under tremendous economic and social pressure due to an arrival of immigrants from China and a lack of natural
Market Potential Index International business can be quite challenging and unsuccessful, if multinational companies do not look at the environment where they want to explore and invest. There are different aspects and market dimensions that can tell decisions makers if it’s convenient to invest in different markets. According to Global Edge (2014), “Global marketing has become more and more important over the years with the increasing trend of internationalization. Faced with too many choices, marketers
Economics Freedom Economics freedom can be best defined as the freedom of an individual to prosper within a country/state without the intervention from government or economic authorities relating to the individuals human resources, labor or private properties. Economics Freedom can be best utilized/seen in a capitalist economy due to it 's numerous advantages which surpasses those of a socialist economy, also according to Freidrich Hayek in his book the road to serfdom, mentions that the economic
First, is essential to understand Paraguay people and society as well its demographic in order to fully understand the culture. Paraguay is a South America country that is land lock between Bolivia, Argentina, and Brazil. Its estimated population of Paraguay is around 6,623,252 people. Most of the population is concentrated in the southern part of the country. Asuncion is the metropolitan capital and largest city of Paraguay, where the national government is located. They have two official languages
considered as human capital in modern economic literature. Improved skill, training, higher education, healthy life, new modern technologies, research and development, proper nutrition, food, sanitation etc are required for sustainable development. Thus, human development is a crucial ingredient of sustainable development.
talks about quality, it not only about increase in production but it also talk about development of social, political, economic and cultural life of human beings. Both the concept could be vary in different countries, the difficulties of underdeveloped countries are being denote by economic development. While advance countries like American and European countries mentions economic growth. Growth and Development are not much varied from each other. But development is dynamic, which is always changing
Economic growth is a necessary but not sufficient condition of economic development. There is no single definition that encompasses all the aspects of economic development. The most comprehensive definition perhaps of economic development is the one given by Todaro: ‘Development is not purely an economic phenomenon but rather a multi – dimensional process involving reorganization and re orientation of the entire economic and social system. Development is a process of improving the quality
Introduction Most Latin America countries are known as third world countries because the economic structure still in development. To overcome such judgment the countries had been developing different policies since the 1970s. The policies promise to help the countries to obtain a healthier economy and have an economic growth. The author Franko explains in the book The Puzzles of Latin America Economic Development how the economist Paul Rosenstein “believes that in order to achieve sustained growth
Development is a complex economic, social and political phenomenon. There are a range of simple and composite indicators used to measure development. There are many definitions of development, perhaps the most used is; “Development refers to a number of characteristics such as demographic change, economic growth, an increase in the case of resources, modernisation, higher levels of technology and political freedom.” Indicators of development are put into four sectors: Economic, Social, Political
and services produced within a country's borders in a specific time period. It is important to know GPD to make conclusions about an economic growth and well-being of population of each particular country. This paper examines two methods of calculating GDP: Expenditures Approach and Income Approach. It also provides a GDP per capita as well as Index of Economic Freedom analysis. 2016 2017 Nominal GDP Q4 Q1 Q2 Q3 Gross domestic product 18,905.5 19,057.7 19,250.0 19,495.5 Gross private domestic investment
thus at the elimination of the causes of poverty. Dimensions of Empowerment According to the Report of the Working Group on Empowerment of Women, three factors determine the extent of empowerment of women in the national hierarchy. They are the economic, social and political identity of a women and their weightage.
Human Development Index Income is not the only way of calculating a person’s well-being. The HDI (Human Development Index) was created so that quality of life could be better calculated. The Human development index is divided in 3 parts: GDP per capita, life expectancy, and various measures of education such as enrollment in school and literacy rates ("Human development index, n.d."). Each part varies from 0 to 1, 0 being the lowest level of development and 1 being the highest and a country’s score
oppressive “Serbian domination” that Milošević was striving for. Serbia and Montenegro then formed the Federal Republic of Yugoslavia (FRY) that following year. Milošević led numerous campaigns to reunite Serbia ... ... middle of paper ... ... economic growth and unemployment still need to be addressed. The government must continue to enforce laws and work with the international community to cut down on the corruption and discrimination. These are the factors that will keep the country from moving
of Democracy, 10. Sen, A. (2011). Development as Freedom. New York: Knopf Doubleday Publishing Group. Transparency International-TI (2012), Corruption Perception Index-2012. Transparency International, London. United Nations Development Programme-UNDP (2013), Human Development Report 2013. United Nations Development Program, New York. Aavailable at: hdr.undp.org/en/media/HDR_2013_EN_complete.pdf [accessed 1 November 2013] World Bank (2005). Economic Growth in the 1990s: Learning from a Decade of Reform
mortality rates cut by over 40%. The more freedom and rights a person has, the more opportunity, and better chance for a good standard of living. The International Covenant of Economic, Social and Cultural Rights declared that the “rights to food, health, education and privacy were fundamental building blocks of the Universal Declaration of Human Rights.” Humans, then, can realize what they are capable of achieving. However, a less developed country with less freedom, demotivates people and takes away
Economic growth, which is the increase in production (GDP) is needed but not sufficient for human development. (Shah, 2013) The link between work and human development is synergistic because work enriches by providing incomes to people, and reduce poverty
Studying economics of any county can be very enlightening. Macroeconomics, which studies the economy as a whole, (Boyes & Melvin, 2012) can give insight on any country’s economic performance. The use of economic indicators such as Growth Domestic Product (GDP), GDP Per capita, GDP spent on military, and the population growth rate can be effective when analyzing the overall well-being of countries such as Australia and India. The information from the economic indicators is also useful in contrasting
is the process of decision-making and the process by which decisions are implemented or not. The World Bank defines governance as the means of exercising power to manage a country's social and economic resources (The World Bank Group, 2012). While the UNDP viewed governance as the implementation of economic, political and administrative authority to manage the country's affairs at all levels including mechanisms, institutions and processes by which citizens voice their interests (UNDP, 1997). While
it appears to be one of the most developed countries in Europe, Italy is somewhat of a laggard in globalization. Ranking twenty-third in world population, Italy stands at 56,126,212 people as of July 2009. The north and south seem to be split in economic terms with the north being well developed industrially and the south facing high unemployment and poverty. Italy is a democratic republic that replaced a monarchy back in 1946. Although it ranks seventh in world GDP and public debt and attracts
Nature vs. Nurture: State Development Edition In his well known piece, Guns, Germs and Steel, Jared Diamond proposes that the differences between populations of different continents is not due to differences in the people, but of the environment. There are, of course innumerable differences to be found among the environments that each continent has to offer, however, Diamond stresses only a few. They include: wild plants and animals native to the area- which affect a society’s surplus thus allowing