Economic growth

clear that Lisavia’s President is fully aware of one of the Ten Principles of Economics, which suggest that a country’s standard of living depends on its ability to produce goods and services. Theories of the economy have shown that a nation - state is able to experience an advanced standard of living only, if it is able to produce more goods and services per average worker in a given period of time. This economic growth is subject to a number of factors, including the promotion of education;…

especially China and India will increasingly shape and dominate the global economy. Although many scholars hare the idea that Asian Giants will continue to grow at high growth rate, like Justin (2016) and Pradeep (2015), let alone similar claim from World Bank, Pritchett and Summers do not agree with Asiaphoria and claim that growth rate of the Asian Giants’ GDP will decrease. To start with, Pritchett and Summers argued that when predicting past performance should not be used to predict the…

slightly higher as election years have always seen a reduced growth forecast even for nominal GDP. However, at that debt level, even though in practice it is difficult to determine what a “safe” debt level, the macroeconomic environment points to the fact that our fiscal space (maximum debt threshold) is almost running out. Therefore Ghana will be faced with severe debt sustainability risk with the rising debt levels. With the slow real GDP growth, low revenues and high interest rates, we cannot…

Africa: Economic Developers or Exploiters? According to Al Jazeera English, China’s investment Africa has grown 30 times larger over the past decade. China’s interest in Africa embeds itself into economic, cultural and political growth the continent is parched for. Globalization comes with a price for Africa, but can America really point a finger at China for making a smart play in keeping a hand in Africa’s untouched cookie jar. Can other countries blame China for choking Africa’s economic…

resource richness with lower economic growth - lies in the condition of a countries institutions. They assert that institutional quality is a barrier, restricting natural resources. Such resources should theoretically increase the wealth of nations through higher investment and growth rates, leading ultimately to augmented levels of economic development. The central argument in this article pivots around this critical role of institutions in achieving such effective economic development in…

months American families have been experiencing economic growth, unfortunately, it has not been growing as fast as the citizen’s hope. Gross Domestic Product or GDP has increased in the third quarter of 2015 at an inflation –adjusted annual rate of 2.1 %, after an increase of 3.9 % in the previous quarter according to the Bureau of Economic Analysis. Expressing at an annual average rate of 2.2 % since the recession GDP is still below the average growth rate of the U.S. which is about 3 %.…

Summary The Republic of Turkey will celebrate its centenary in 2023. Its economic goal is to rank among the world’s 10 biggest economies. To move from its current 17th position, Turkey will have to grow on average 8% per annum. The researcher describes the history of relationship between Turkey and EU. Turkey is a veteran of candidates for membership in the European Union; its associate membership in this organization has been going on for more than forty years. However, the long wait, does not…

always be able to afford the advantaged of higher education). There is a substantial dispute to be made through these observations which is; the American dream should be obtainable and being born in one social class should not prevent social and economic advancement. According to Daron Acemoglu and James A. Robinson, one of the ten reasons countries fall apart is “A tilted playing field”. In their article , Acemoglu and Robinson discuss the down fall of South Africa where blacks “ were…

can be difficult to parse out the effects of institutions when they have taken so long to evolve over time (e.g. Europe, China, etc.), but when the exogenous force of colonialism invaded, the difference in institutional development and future economic growth was stark. It is obvious to see that Spain set up extractive institutions in their American colonies and that England set up settler colonies which were far more likely to develop inclusive institutions; but, Why Nations Fail, broadens the…

per capita in 2013 was 6.617.91 USD, GDP- 350.6 billon USD, GDP growth rate-1.9 percent annul change, Gross national income- 648.7 billion PPP dollars, GNI per capita-12.240 PPP dollars and the unemployment rate in 2016 was 26.6%. This academic writing will expatiate the comparison between free market economics and communism and further expound on communism. Free market economics and Communism occupy two polar extremes in the economic activity. The major differences lie in the separation of…