Democracy is seen as a worthy cause in the world, but there is a lot of debate about the consequences of democracy, the process of democratization and its image of being the most perfect system ever. For example, it is questionable whether democratization brings benefits economically as a given and whether democracy leads to peace. On the other hand, there is also a debate about the possible causes of natural democratization. Do developing countries have less chance of democratization, does...
3 Pages
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Economic growth should be a positive force for the whole planet. This is why we must make sure that financial progress creates decent and fulfilling jobs while not harming the environment. We must protect labor rights and once and for all put a stop to modern slavery and child labor. If we promote job creation with expanded access to banking and financial services, we can make sure that everybody gets the benefits of entrepreneurship and innovation. Productivity is a measure...
5 Pages
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Malaysia is a Southeast Asian country, occupying parts of the Malay Peninsula and the island of Borneo. It is known for its beaches, rainforests and mix of Malay, Chinese, Indian and European culture references. Its capital is Kuala Lumpur. In 2021, Malaysia’s population is 33.42 million, it is an undeveloped country. Malaysia is very special among unique countries in the world. It is because, the diversity of races, religions and cultures. Malaysia’s climate is tropical, and they have natural resources...
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Globalization, a significant trademark inside the contemporary financial condition, has brought about critical changes to singular countries regarding monetary improvement procedures embraced by national governments. The term globalization alludes to the joining of nearby and worldwide economies into a comprehensively brought together political, monetary, and social request, and is anything but a particular wonder, notwithstanding, however, a term to depict the powers that change an economy into one described by the embracement of the more liberated development of exchange, speculation,...
3 Pages
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Equality is the state of every individual being equal, especially in status, rights or opportunities. However, up till the 21st century, gender equality is still a prevalent issue. Men and women across the globe do not enjoy equal privileges. Gender equality is the equal right of both men and women to have access to opportunities and resources, including the right to participate in the economic sphere and have a say in making important decision. If achieving gender equality can return...
2 Pages
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Dubai is located on the Persian Gulf, and it is one of the seven emirates that the UAE form. Dubai is the second largest emirate after Abu Dhabi with a population exceeding 1.3 million which makes about 32% of the UAE population (Al Awad, 2008). However, it is ready to expand twice as much if you add the man-made islands: Waterfront, Three Palms, World, Universe, Dubailand, as well as many other construction projects taking place in the desert. Dubai is...
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According to economic theory, economic growth in a given country is possible in only three cases. The first is when investment flows: when capital accumulation outstrips the growth of the labor force, so the share of workers is more capital. This growth is named after the American economist Robert Solow – ‘Solovian’ growth. The second – economic growth can occur in connection with the expansion of the exchange of goods and services, it is commonly called Smithian growth, because of...
3 Pages
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Natural disasters have always been one of mankind’s major fears and fascinations, due to their associated human and economic losses. Natural disasters such as the Kobe Earthquake, Hurricane Katrina, the Indian Ocean Tsunami, the Haitian Earthquake, and the Japanese Tsunami have been able to grab the attention of man towards the act of examining the impact and consequences of these events, as they have instilled fear in him that such large-scale devastating events are becoming more frequent and severe. The...
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Colombia has been a country of turmoil and unrest for most of its existence. Due to the fact that there are so many regions and each region being in control of itself and not having much to do with the other region, the unrest has been difficult to manage. From a business standpoint, there has not been much going on with the outside world until the early to mid-20th century. It was during this time period that there was a...
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The boom of South Korean pop (K-pop) originally expanded to few Asian countries in mid-1990s; however, in early twenty first century, it has gained global popularity in the twinkling of an eye. The latest BTS – a Korean idol group which consists seven boys – got the first place on America’s Billboard album chart (Dal and Lee, 2019). It was also for the first time to get that record as Asian music stars. The announce means BTS got international fame...
2 Pages
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Bernard and Austin (2012) argue that traditional theorists believed that financial market in general has no correlation with economic growth, this proposition aroused studies on finding the effect of financial market on growth. Ample of studies have conducted on the traditionalists and established association between stock market and economic growth. In developing economy like Bangladesh and Nigeria, the development and growth of stock markets have been widespread in recent times. Despite the size and illiquid nature of stock market, its...
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To begin with, the key question for modern growth, however, is this: ‘Does mercantilism still exist?’. In many developing nations, under one-party rule or managed by huge bureaucracies guided by industrial policies, the answer is undoubtedly, yes. On the other hand, in the modern economies, where tax reporting and collection are fairly efficient, mercantilism is much less in evidence. However, this idea of mercantilism was at its peak during the 16th-18th centuries. This time period is also known as the...
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China’s economy has undergone extraordinary growth over the past four decades. The country was one of the poorest nations worldwide in 1978 with its real per capita gross domestic estimated to be one-fortieth of the US level. However, the nation has become a vital economic power since it opened up to the world following the end of Mao’s rule (Yang, 2013). The country’s real per capita GDP increased from 5.5% of the US level to around 25% in 2014 (Zhang,...
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In order to explain the balanced growth path using a general Solow economy, I have chosen Ukraine as a developing economy as it is a great example of a country in Europe that struggles economically and fits the Solow’s model of economic growth. Solow’s model shows that the rate of savings in the economy determines the size of the capital stock, and accordingly the volume of production. The higher the rate of savings, the higher the capital adequacy and higher...
3 Pages
1554 Words
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