been going through many changes recently. Two of the most noticeable changes are increase in population and development. Population Growth is a bane? There are two major theories supporting the populating growth being a bane. The two theories are: 1. Thomas Malthus theory Malthus theory claims that there is no way food supply can keep up with the population growth. Malthus believes that population will exceed food supply. 2. Coale & Hoover theory Coale & Hoover theory believes that the increase
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I. History of Economic Growth and Reform Since 1978 China has experienced very rapid GDP growth. Between 1978 and 2009 China has had an annual growth of over 8% for twenty five out of thirty two years‚ and from 1979 to 2006‚ China had an average real GDP growth of 9.7% annually. This rapid growth has increased the size of its economy by eleven times what it was. In that same time period China’s world ranking for total trade rose from 27th to 3rd place. The real GDP per capita in China had also
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วารสารมหาวิทยาลัยราชภัฏยะลา Journal of Yala Rajabhat University 131 Government Expenditure and Economic Growth in ASEAN-5 Economies: an Autoregressive Distributed Lag (ARDL) Approach Hussin Abdullah* Muzafar Shah Habibullah** Siong Hook Law** ABSTRACT In this paper‚ we examine the relationship between components of government expenditure and economic growth in ASEAN-5 using the autoregressive distributed lag (ARDL) approach developed by Pesaran‚ Shin‚ and Smith. Bound testing approaches
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“Discuss the Causes and Effects of Economic Growth” Economic Growth is where goods and services maximise in value over a period of time. This is measured by Real Gross Domestic Product (GDP) which is defined as “The total market value of all final goods and services produced in a country….equal to the total consumer‚ investment‚ and government spending‚ plus the value of exports minus the value of imports.”(www.Investorwords.com) In turn this is measured by the level of aggregate demand in the
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Does Economic Growth lead to Poverty Alleviation? Please compare and contrast very briefly the experiences of China‚ India and Brazil. What lessons can an African country of your choice learn from these experiences? INTRODUCTION The last few decades witnessed a rapid economic growth in developing countries. However‚ over 88% of the 1.2 Billion world poor (Olinto et al‚ 2013) live in these countries. (Appendix: Table 1.1) This phenomenon poses the question if the recent growth has been pro-poor
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Growth Across Different Countries Economics Growth Average world GDP was only 250 dollar per capita per year as per the estimates of DeLong during the 1800s. Even now‚ the GDP per capita is less than five hundred dollar per year in many developing countries of Africa. Conversely‚ the countries which are under OECD or the Organization for Economic Cooperation and Development‚ comprising of Japan‚ U.S.‚ Canada and various other states of Western Europe‚ have more than twenty thousand dollar average
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How technological change impact upon economic growth There have been dramatic changes in global economics in the last two decades through the flow of trade‚ foreign investment and of course technology‚ with a major rise in the manufacture and spread of information and communications technologies (ICT). For the course of this paper‚ ICT‚ a general purpose technology will be used to include in broad terms‚ computers – software and hardware‚ telecommunications‚ satellite communications‚ email and
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1. Neoclassical Theory Causes of Economic Growth a. Increase in labor quantity (population growth) b. Improvement of labour through training and education c. Increase in capital (higher savings and investments) d. Improvements in technology Neoclassicals believe that government control inhibits growth as it encourages corruption‚ inefficiency and offers no profit motive for entrepreneurship. Underdevelopment is seen as the result of government inefficient use of resources and state intervention
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Conflicting Goals in Economic Growth Goals of monetary policy are to "promote maximum employment‚ inflation (stabilizing prices)‚ and economic growth." If economists believe it’s possible to achieve all the goals at once‚ the goals are inconsistent. There are limitations to monetary policy. The term "maximum employment" means that we should try to hold the unemployment rate as low as possible without pushing it below what economists call the natural rate or the full- employment
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CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Recent literatures on economic growth asserted that ex-ante development of the financial system facilitate ex-post economic growth (e.g. Rajan and Zingales). In recent time‚ the link between financial market development and economic growth has received much attention in the literatures (King and Levine 1993‚ Rajan and Zingales 1998‚ Calderon and Liu 2002‚ Sunday E. Ewah and Judey Bassey 2004‚ T.S. Osinubi 2000). This is not unexpected
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