Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Population growth and economic development
Discuss the impact of population growth
Positive impact of population growth
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Population growth and economic development
1. Introduction
Population growth is defined as the expansion in a country’s population recorded for a year and expressed as a percentage of the population at the start of that period (1). As of June 2014, there are more than five million residents living in Singapore. This includes Singapore citizens, permanent residents, non-residents comprising individuals holding work passes, dependants and international students (4).
Singapore ranks as one of the countries with the highest proportions of foreigners in its population and among its workforce in the world (8). Since, Singapore is considered to be a relatively safe and peaceful country, it attracts foreigners to work and live here. Due to the advancement of healthcare facilities, improved
…show more content…
Population growth enlarges labour force and therefore, increases economic growth. A large population also provides a large domestic market for the economy. Moreover, population growth encourages competition, which induces technological advancements and innovations. Nevertheless, a large population growth is not only associated with food supply issues but also imposes constraints on the development of savings, foreign exchange and human resources. There is no general consensus whether population growth is beneficial or detrimental to economic growth in developing economies. Moreover, empirical evidence on the matter for developing economies is relatively limited (6).
A sustainable population is one that is balanced across the three pillars of a strong and cohesive society. This is core for a dynamic and vibrant economy in Singapore to provide good jobs and opportunities for Singaporeans, and a high quality living environment. With a small population, Singapore would not be able to produce enough talented people to sustain its economic development, making it unattractive to foreign investors and Multinational Corporations (MNCs). It is also difficult and expensive to recruit local Singaporeans as compared to larger and cheaper labour markets in other
In many of the developing countries perhaps, another factor that they relate to population is poverty. If the number of population is high then there is the existence of poverty which ultimately leads to resource scarcity. But this is barely true, studies shows that there is no direct link between population growth and poverty. National Academy of Sciences (NAS) in the United States concluded in its 1986 report, titled Population Growth and Economic Development as cited by Jan (2003) that it is misleading to equate poverty with population growth per se. It found that the claim that population growth led to resource exhaustion was mistaken and it pointed out that to a great extent environmental problems could be resolved by appropriate government policies designed to correct market failure. This study was later confirmed by the Independent Inquiry Report in to Population and Development (IIRPD) commissioned by the Australian Government in 1994. It acknowledged a positive correlation between population growth and sustainable development (Jan, 2003).
‘State of World Population 2007, Unleashing the Potential of Human Growth’ 2007, United Nations Population Fund (UNFPA)
Population size is quite pertinent when understanding a country’s GDP per capita, because the population is divided by the real GDP to calculate the per capita rate. Superficially a country can appear to be wealthy due to its immense GDP; however, due to its population size, the country can have a low level of GDP per capita and thus a low standard of living. Theoretically, we assume that an increase in population will essentially increase GDP, because there will be more participants entering the labor force and more money circulating through the economy, therefore, equating to an increase in the production of output. The dilemma that stems from the exponential growth in population is that it can grow at a rate that eclipses that of the GDP, meaning the growth rate of the population may surpass that of the GDP. What is problematic in this case that the population size exceeds GDP is it minimizes the amount of income that is distributed among the population, therefore resulting in a lower standard of living. In the case that population is checked and maintained at a sustainable level, the country can then experience an increase in GDP per capita leading to an increase in the standard of
Population growth is the change in population over a period of time. It happens due to a number of factors such as standard of living, cultural factors, and government policies. When the standard of living become better such as the improvement of social conditions ( shelter, sanitation, clean water , health care and etc) death rate and birth rate reduce as more people become inclined to have fewer children. As standard of living increases, there will be more immigrants thus an increase in population. Government policies which encourage people to have lesser or more children also has a significant effect on birth rate too.
... and a choice of how far would we go to get what we want, especially economically considering the fruits that Singapore has reaped from it annually. Thus, some of the polices that the government have in place with our economy as its best interest when they implement them should be revamped. One example would be the immigration policy that allowed the many foreigners we see today. These policies should be careful thought out and refined to tackle the social and cultural issues that might arise. To ensure that a country is prosperous and its people being happy in where they live in, we need to balance all three aspects of economic stability, social and culture aspects. What we need is not a house but a place called home. With these three factors taken into consideration, Singaporeans would then feel a sense of belonging and enjoy the benefits brought by globalization.
The rapid growth rates in Singapore can be attributed to the various economic and political factors such as the role of the state, debacles between states and countries and effect of the international environment. What we expect is that, at the end of an influential dispute there will be many changes in the international environment which may end, leading to huge effects related to globalization in production. Singapore is a unique city-state without a rural population (Shatkin, 2014). The implication is that it will be difficult to understand the difference in the situation between rural and urban sector, which are important prerequisites in the study of...
With a current population of over twenty three million people, Australia is one of the most multicultural and diverse nation in the world. As such it is quite obvious that its population is expected to grow extensively in the coming years. A population is the total number of inhabitants of a certain area, in this case Australia’s population and its expansion over the next thirty four years. It is projected that by 2050, Australia will have a population roughly thirty five million people, this could be seen as problematic from both a social and economic stand point. As well as effecting a variety of living standards both material and non-material. Population growth can also result positively on these same areas, depending on how it is managed.
In addition, after the 2011 Singapore general election, the government of Singapore has greatly changed its economic approach and it seems to be better for the economy of Singapore so far. On the other hand, measures have also been taken to cool down the property market which has constantly affected inflation rates, also tightened the foreign labour policies that constantly influence the labour market and unfold its impacts onto the Singapore’s economy as it comes back in one round. The unemployment rate in Singapore has been maintaining itself as being one of the lowest numbers in the world. The majority of Singapore’s labour force is well educated and highly skilled. Even primary education is a must for all citizens (Economywatch.com, 2010). In addition, for the year 2010, Singapore had the 8th largest current account balance in the world at US$49.454 billion. To conclude, Singapore has come so far from its sunken economy since independence in 1965 to become a booming and prosperous economy that it is
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.
Singapore is one of the only countries to move from “Third world to First world.” This is because Singapore used bold and novel strategies in the initial stage of its development. Most countries and peoples were unaccustomed to these strategies. One such brazen and unexpected move that Singapore made was to refuse International Monetary Fund (IMF) loans. At that time, it was unheard of for a developing country not to take IMF loans because these loans were synonymous with development. In addition, it is important to acknowledge that the colonization of Singapore had some part in the creation of its economic model. Therefore, the colonial and occupation history is important to set the foundation for its economic
Economic growth is the most effective instrument for reducing poverty and enhancing the quality of life in developing countries. The benefits brought about from economic growth is strong growth and business opportunities enhance incentives. This may lead to the rise of a strong and growing group of entrepreneurs, which should generate pressure for enhanced administration. Strong economic growth therefore advances human development, which in turn promotes economic growth. But, under different conditions, comparative rates of development can have altogether different consequences for neediness, the occupation prospects of poor people and more extensive pointers of human development. The extent to which growth decreases neediness depends on the extent to which the poor take an interest in the growth process and share in its returns (Riley, G.
Singapore is an example of a cosmopolitan migrant nation comprising of nearly forty percent of non-citizens currently. These immigrants consist of both foreign talents and foreign workers to contribute to the economy and society.
An increase in human population can influence our economy. Some of the factors that are affected are unemployment, poverty and the restriction of economic expansion. When the population increases, the cost of health, education, and other areas of urban growth are affected. Unempl...
population numbered 193 million, the nation’s population still would have grown—to 252 million people by 2015, rather than 324 million. But now in 2017 the population of the U.S is 571 million, since a lot of people from other countries moved here, and that’s why we have so many people in the U.S. Nearly 220,000 people are added to the planet every day, It is clear to all of us that the planet is not expanding.
About eight out of ten Singaporeans have service jobs. Many work in banks and office buildings. Others work in hotels, restaurants, and shops to serve tourists. Factory workers make electronics, medicines, and another high-tech product. They also turn oil into fuel. The country’s location on the water makes it easy to ship these goods to go to other countries.