While there is no exact definition of an emerging country, it can be said that countries whose economies have gone from a phase of unproductivity or underdevelopment to a full economic development are emerging countries. They are also called developing countries.
According to the International Monetary Fund (IMF) (Fund, 2014), the main features of emerging countries are:
• Great living standard of the population between the low and medium class;
• HDI (Human Development Index): between the middle and upper levels;
• The income per capita (GDP per capita) between 5,000 to $ 8,000;
• The industrial sector in development;
• Growth of infrastructure (ports, roads, railways, airports, etc.);
• Attracting foreign capital for investment in the productive
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Thus, Dominican Republic is considered as an emerging country nowadays. It has been a long path for the Dominican economy is considered as an emerging economy. Thus, to understand this route it is important to point out all the economic models performed to be considered as an emerging economy.
2. Dominican economic models background
An economic model is defined from the country’s economy core activity, which revolves around the other, and the destination of the output generated by this activity. For many years the main economic activity of the Dominican Republic was the sugar industry, whose production is mainly destined for the foreign market. Hence, from that the word agro-export sugar model.
Some countries are coffee or banana agro-exporters, others are based on industrial production for export, others in services. However, each country has its economic model.
Since the birth of the Dominican Republic, in 1844, the country has had approximately three economic models: an agro-export model, the engine of growth rested on the production and export of various traditional agricultural products (sugar, coffee, cocoa and snuff); the import substitution model that comes with the famous Law 299 of 1969 that tried to develop an industry sector of light transformation; and a service model based on three sectors: tourism, free zones and
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Agriculture contributes just 7% and the remaining 55% is distributed among other sectors, including the public sector (World Bank, 2016). But if it is added to the value of domestic commercial the import trade amount, equivalent to 30% of the GDP, it can be said that trade in general is the main sector where most of the accumulation of capital is concentrated. And within trade the key is the importation activity, which is financed mainly with foreign exchange provided by tourism, remittances and foreign investment (World Bank,
This previously inexistent economy is what allowed Trujillo to attain and strengthen his power in the Dominican Republic. Oddly enough, the same peo...
During Gregory’s ethnographic research in the Dominican Republic, he encounters many individuals, some tourists, others expatriates, as well as citizens native to the island. One individual by the name of Minaya, discusses changes in the sugar cane industry. In 1988 he became a worker at a sugar mill that his uncle owned, but claimed that the industry became “Capitalized” (Gregory 2007: 15). He explains this capitalization as the industry being leased out to private corporations, which incurred poor working conditions and minimal wages upon the laborers. Minaya also expresses the fact he has no formal education, a big factor...
Today I bring to your forefront of thought, the island of Hispaniola. This island is the namesake for the two countries who run the land, the Dominican Republic and Haiti. Both nations hail from a joint introduction into the world market and post-European colonization, but as time progressed, each one had a different outlook to the world stage. The present day Dominican Republic and Haiti are worlds apart on an island which keeps them together. Their culture is separated by the colonial residuals that lay imbedded into their communities. They are on different sides of the spectrum of structural growth due to the resulting outcomes from decades of political ruling and policy making. On one side we have the second independent state of the Americas,
The Dominican Republic is a nation located in the Caribbean Sea and shares the land with Haiti, and the whole island is called Hispaniola as it was named when Christopher Columbus discovered it during his first voyage in the year 1492. The country has proved to be one of the leading Caribbean countries with accessible healthcare to its citizens and even expats. However, the country has a multinational population with low-to-medium incomes and multi-level access to healthcare based on income. Despite this, improvements to healthcare system can lead to better medical outcomes to all the citizens and even to the suffering citizens of the Haiti. Because the Dominican Republic is an immediate neighbor to struggling Haiti, it is the moral obligation of the Dominican to provide Haitians with access to healthcare.
“Family is the most important thing in the world.” ~ Princess Diana. The Dominican Republic is a diverse country in the Caribbean. It shares many of the same values and norms as the United States. In order to fully understand Dominican Republic families it is important to look at their structure, traditions, and values.
Costa Rica lies in the tropics and originated as a land of peaceful people and lush ecosystems. The Costa Rica of today is much different than a simple ideal tourist location. It is a country that ranks among the world’s highest in biodiversity. In addition, there is no separation between church and state. It is a country with a woman president and no army. The economy of Costa Rica is challenged on a daily basis and the education of its residents is recognizable. The purpose of this paper is to introduce readers to the many unique facets of the small Spanish speaking country of Costa Rica. My intent is to present information about the country’s geographical facts, biodiversity and ecotourism, religion, education, government and economical status.
The Dominican Republic was first discovered in the year of 1492 by none other than Christopher Columbus. When Christopher Columbus first sighted what is today known as the Dominican Republic, he told Spain that he found a land that was the “fairest under the sun.” The Dominican Republic is located in between the chain of Caribbean islands of Cuba and Puerto Rico. The island has very favorable climate and gentle winds. With its good mineral wealth, the Dominican Republic was preferred as the early location for Spanish trade, administration in the New World and culture. Christopher Columbus named the Dominican Republic “Espanola” or “Little Spain” to show his love for the island. Today the island is divided into two countries which are the Dominican Republic, which consists of Hispanic, Western, Spanish speaking, population which of whom are mostly white or mulatto. The second country is Haiti, which is French and African Culturally and the population consists of people whom are mostly black. The Dominican Republic has four parallel mountain ranges that run from northwest to southwest that segregate the country into several smaller pieces and also separate the capital of Santo Domingo from the agricultural area and also from the center of the tourist trade area which is located on the northern coast. The mountain ranges are mostly unpopulated and are far less important to the Dominican Republic than the valleys of the cordillera. The Dominican Republic is usually blessed with beautiful weather and temperature and rainfall but the island also contains serious climatic problems such as hurricanes of which left many of its people dead and homeless in the year of 1930. This Hurricane served as a reason or excuse for Dictator R...
Imagine yourself as a businessperson on a trip to the island of Hispaniola to check on how production is faring. You land in Santo Domingo to transfer to a short commuter flight to Port-au-Prince. During the flight, you gaze outside your window to admire the breathtaking view of the Sierra de Baoruco, with its luscious forests. As the plane approaches the Haiti-Dominican Republic border, you notice that the land has been completely denuded of trees directly on the other side of the border, creating a clear demarcation between Haiti and the Dominican Republic.
What's a common location that comes up in discussion when someone thinks of a destination to get away from all the hustle and bustle of the Main land of the United States? Normally Puerto Rico isn't too far away from conversation. Puerto Rico is a beautiful place with the perfect climate and many historical sites to take that getaway that you have always wanted. Today we will discuss major issues in/of Puerto Rico, the significance of this research and data sources, and lastly I will describe the data collected and research found during my inquiry on the region known as Puerto Rico
The main purpose of this paper is to study and analyze the effects that the U.S. Free Trade Agreement have in Colombia’s developing economy by demonstrating the effects in Colombia’s GDP after the agreement, the effects in farmers, illegal drugs, and in the internal market share...
The BRICS “has come to symbolize the growing power of the world’s largest emerging e...
In 2013, the GDP reached an all-time high of 57.53 USD Billion (TE). Services account for providing the highest GDP for the country at 62% (nationsencyclopedia). Trade is a moderately important factor in the economy. Combined, imports and exports make up 45 percent of the country’s GDP. The major imports of Uruguay include Crude Petroleum, Electric Generating Sets, Cars, Broadcasting Equipment and Delivery Trucks.
... A lot of companies have directly invested in developing countries like Brazil and India by starting production units, but what we also need to see is the amount of Foreign Direct Investment (FDI) that flows into the developing countries. Companies which perform well attract a lot of foreign investment and thus push up the reserve of foreign exchange. CONCLUSION Globalization In conclusion, international business is best described as globalization.
The Caribbean region extends from Barbados in the East, Trinidad and Tobago in the South, to the Bahamas in the North and Cuba in the West (Edwards, 2013, Unit 10 ). A rich cultural heritage is one of the regions most prized possessions, dear to the heart of its people. Merriam-Webster(2013) defines culture as “the beliefs, customs, arts, etc., of a particular society, group, place, or time”
The inhabited islands clustered in the Caribbean Sea are an interesting study in cultural and social identity. Colonized by european powers from the Fifteenth Century, the Caribbean islands have become mixtures of cultures from Europe, Africa, and India, as well as from the original inhabitants of the islands. As a result, describing and defining the Caribbean is a much more difficult task than it appears on the surface. The norms and ideas of identity and history that exist on one island are vastly different than those that exist on a near neighbor, despite similarities in geography and history.