Exogenous growth model

technology imitation and cheap labor has a diminishing marginal returns, there is a growing concern if Malaysia has been falling into a middle income trap (Flaaen. A et.al 2013). While middle income trap is defined as the stagnated or slowed down growth of an economy for a long period of time (leading to low income level and therefore low savings & low production); with some proficient advocacy and policy reforms, Malaysia can possibly escape this trap (Kharas and Kohli 2011). This article thus…

ACE 592 LR Assignment 1 NetID: xl2 Name: Xu Li Question 1: Discuss three economic rationales for having a patent system, and please provide examples to illustrate the rationales. The three economic rationales are Market reward, Ex ante rationales, and Ex post rationales. Market reward: A patent is a reward by the federal government that encourage inventive activity and promote disclosure of new technology. It gives the right to exclude others from making, using, or selling the invention. The…

Messner and Rosenfeld drew from Merton’s theory to create institutional anomie theory. Institutional anomie theory seeks to explain America’s high crime and incarceration rates. Akers et al, (2017) stated that this theory argues that America’s social institutions look at money and success as equals. He list four values in which the “American Dream” causes people to believe that they must have these value in order to be successful (Akers et al. 2017). The four values are achievement orientation,…

In the clause, “Housing and unemployment: The search for the “American Dream”, by Robert Reed and Ejindu Ume evaluated that there is an important link between labor market actives and the housing market. The two authors will also compose a model of search and bargaining over both markets. They also highlight facts that argue that housing costs and friction in the housing market can hold an immense impact upon both markets. This connection can be seen in the individual worker’s desire to…

segment. As of 2005, China’s economy was the second largest in terms of GDP. The people purchasing parity (PPP) GDP was $9.412 trillion while nominal GDP stood at $2.25 trillion. In the same year, the GDP growth rate was 9.8% whereas the home improvement market was worth $50 billion in sales with a growth rate of 12%. Following tight monetary policies, the inflation rate for China has remained at 8.9 % since 2001. Besides, there was $637.42 billion worth of property being constructed and this…

The case study presents an interesting insight into the growth of ADG from a domestic growth of ADG from being an importer to domestic production and to become an international firm. Having the knowledge and experience of the domestic market, the firm’s domestic growth is dominantly based on the expansion strategy of the business transiting from import business to domestic manufacturing. Though the BIP industrial policies have played a major role in this expansion but the firm’s ability to…

“Our economy only works as well as it does now because we are borrowing from the future, using up resources at an unsustainable rate.” (Page 5) This quotation from an article, “Here’s why China’s one-child policy was a good thing”, comes up with a serious environmental problem that limited resources are not enough for human beings to use in the future. As economy growing, environmental pollution always becomes the most serious problem in the world. Growing population requires an increasing…

effecting our earth greatly. In this essay I will go into depth about the history and growth of our population over the years, how it is currently effecting our planet, and the facts showing weather or not we should be taking any action to this issue. I believe that the world is just not suitable for the worlds population to be increasing at this pace. First, I would like to discuss about the history and growth of our worlds population over the years. According to the article Human Evolution…

repercussions as a result. Human overpopulation comes with many problems such as limited resources, disease, war, and even climate change, resulting in a positive feedback loop, making each condition worse, which may spiral out of control. Human population growth must slow to a feasible amount if we want to prevent complete…

This strategy has proved to work well in countries in North America that tend to have highly competitive business environments (Chen, 2016). This strategy will suit the firm because it has a reputable company model that can be simply transferred into the new market. However, for this model to work effectively, the firm will need two caveats. One of them currently exists in the company in the form of their strong brand recognition thereby making it easy for it to be used internationally. The…