Economic Growth and Development Essay

Barro found that a nation’s GDP growth rate is correlated with improved rule of law and granting of political rights. These were only correlated when prevalence was initially low, but it demonstrated that certain political structures may be better for growth. This is because economic rights and political rights facilitate and encourage one another to develop. The key causal mechanism here is limitation in government power due to the increase of individual political rights (Barro 1998). While…

commercial goods. This is something which various individuals such as environmental activist David Suzuki, (Suzuki et al, 2007) mentioning the rise of a consumerism worldview. Other fellow thinkers like, Victor mentions how the unprecedented economic growth leads to rapid changes in benefits and costs with respect to the environment or in general the planet. (Victor, 2010) This thought of a consumerism worldview in my personnel opinion is something that is already present in our society today,…

foreign aid and economic growth has drawn great attention for years. The topic is extremely controversial one. There is now a large literature on the relationship between aid and growth. Empirical findings between aid and economic growth is mixed. Some studies found positive relationship between aid and GDP growth rate. For example, study conducted by Hansen and Trap (2000) examines the relationship between foreign aid and GDP per capita. They found that aid increases the GDP growth rate without…

Economic problem to be studied The crude oil price has been very volatile during the past several years due to the overproduction and an increasing inventory for major economies. It is very hard for the main crude oil producers to reach an agreement to cut global production all together, so the price reached a historical low level during 2015-2016 (Breul 2016), and to this day the oil price is still at a low level compared with decades ago. Since crude oil is a very important part for many…

for the Mexican worker. The logic and goals of the government are sound but the results are minimal, in reality maquiladora industries invest little in technology or human capital development; this trend has depressed the development of technologically advanced maquiladoras, human capital development that would diversify and develop the Mexican economy. Samstad and Pipkin establish the variance between first, second and third generation Maquiladoras, first generation factories are structured as…

1. Introduction Many scholars and observers have dubbed the economic growth in China over the past three decades as phenomenal. This growth is virtually synonymous with the Economic Reform that started in the late 1970s. The word reform is defined as a transformation or improvement. The Chinese Economic Reform refers to a number of economic changes known as “Socialism with Chinese Characteristics” in the People’s Republic of China (PRC), led by the Communist Party of China (CPC) under the…

Unilinear Concepts of Development” he discussed the move of the definition of development to a benefit to mankind perspective away from the most commonly understood definition of development which was an economic one. Binns pointed out that development is now being regarded from the angle of fulfilment of basic needs. Binns’ opinion much like Truman’s opinion which he outlined in his inaugural address. He framed the role richer countries should play in the development of poorer…

eco-imperialist nature of climate change due to economic globalization. The populations in developing countries, especially the poorer populations, “experience far worse consequences from climate change than the wealthy”…

Chile, as one of the most significant countries in South America, has been known for its extreme geographic diversity. As one of the narrowest nations around the world, Chile extends from a latitude of 17 degree south to Cape Horn at 56 degree between Andes and the Pacific Ocean. (Smith, 1904). The country extends more than 4,000 km from north to south while only around 170 km from east to west. According to the data, around 80% of the country’s interior land is covered by mountains, with the…

contaminating living factors, there has been a plentiful amount of researches that have been finding solutions to these epidemics. This paper will reflect the numerous studies which explores economic country developments with industrial pollution. Canfei He, Zhiji Huang, and Xinyue Ye (2013) compared the development between the economy in China versus the pollution produced in China. Xiao-hui Liu, Wei-liang Wang, Shao-yong Lu, Yu-fan Wang, and Zongming Ren (2016) found the results of GDP in…