Why Do Some Countries Fail to Thrive? Critically Evaluate One or Two Policies Aimed at Boosting Growth & Aiding Development. Critically Evaluate One or Two Policies Aimed at Boosting Growth & Aiding Development.

In: Social Issues

Submitted By anumshm
Words 3277
Pages 14
Why do some countries fail to thrive? Critically evaluate one or two policies aimed at boosting growth & aiding development. Critically evaluate one or two policies aimed at boosting growth & aiding development.

In this essay I will address why countries fail to thrive as well as evaluating the policies that boost economic growth and development. Globalization is a process of international economic integration effecting output of goods and services, input of capital and labor and aiding diffusion of knowledge and information. Breaking artificial barriers for goods and services in the last two decades has had a positive affect on development. Many countries have had successful economics growth and better standards of living due to increases in exports measured through increase in GDP. Even with better economic integration in the last two decades some countries still fail to thrive and benefit from globalization. Yet still some economies fail to thrive.
There are many issues that can be looked at to understand why some countries have not developed quickly and efficiently as others. According to Jeffrey Sachs 2005 book ‘The end of poverty’; the richest countries in the world are ahead by two decades in relation to growth and economic gains. Poorer economies have suffered greatly due to poverty and geographical barriers such as famine and pandemics. Other issues such as political instability and collapsed governments have been a central focus point of many critics. I will analyse factors that have hampered growth in developing economies with supporting evidence.
Political instability impedes on growth, as there is level of uncertainty in the economy and generally a feeling of pessimism in these periods. This discourages investments and FDI as well as affecting employment rates significantly. Egypt and Bahrain have seen the worst civil unrest in the past few…...

Similar Documents

Critically Evaluate Two Approches Used During the Strategic Analysis Process

...Stakeholder Mapping that may be useful. This work will present two approaches of strategic analysis process such as Value Chain Management and Potters Five Forces. Those two methods seem to be the most authoritative and covering the largest range methods. The information and conclusions drawn from them give a clear view of the situation in which the company is located and whether the plans for the future have any chance of entry into force and to bring relevant results. The first section presents the method of analysis of the value chain, its advantages and disadvantages, and presented examples of its application in practice, as typified by several companies. In the next part in a similar manner presented the advantages and disadvantages of the Potters five forces, also supported by examples of application. Finally, a brief summary is presented. 2. Value Chain Analysis Value Chain Analysis is one of the methods of analysis of the strategic potential of the company, which is a "resource approach", which sources of success the company is looking for in the company. Value chain on the one hand refers to the economic path and then to organizational theory and analysis of the internal value chain of the company. The internal value chain, in turn, consists of basic and auxiliary functions. The concept of the value chain, popularized by Michael E. Porter of the residue mid-eighties, it has its methodological roots in two known ways to examine the problems of business......

Words: 3852 - Pages: 16

Choose One Global Crime as a Case Study and Critically Evaluate the Effectiveness of the Transnational Policing of This Crime.

...Choose one global crime as a case study and critically evaluate the effectiveness of the transnational policing of this crime. This essay focuses on money laundering and argues the effectiveness of the transnational policing of this crime; money laundering is one of the world’s most prevailing organised crimes. This essay firstly defines policing from contrasting viewpoints of different philosophers as well as identifying modes of the police. I will explore the modes of policing and various definitions of policing; this essay considers definitions and approaches to policing through a transnational concept with influences from prominent figures within the ideology of transnational policing. The conventional process of money laundering is clarified together with implications of the how this global crime effects other crimes as well as society as a whole. Aided with two case studies I give examples of how money laundering takes place; taking into hindsight the effectiveness of the policing of money laundering. This essay also addresses the connection between money laundering and the risk society theory whilst also taking into consideration the contrasting views of domestic police modes and transnational police modes. Through addressing ways in which money laundering is combated through global organisations such as Interpol, I critically address significant notions of the policing of money laundering. Policing is typically understood as a method of crime control; however......

Words: 3023 - Pages: 13

Government Policies for Economic Growth and Productivity

...Government Policies for Economic Growth and Productivity Michael Pintar ECN400 – Managerial Economics Colorado State University Global Campus Dr. John Speir November 11, 2012 Government Policies for Economic Growth and Productivity Michael Pintar ECN400 – Managerial Economics Colorado State University Global Campus Dr. John Speir November 11, 2012 Government Policies for Economic Growth and Productivity Government policy for promoting economic growth and productivity has tremendous bearing on our standards of living today and our future. Our policymakers’ ability to exercise proper fundamentals of economic growth determine the livelihood of our next generations (Mankiw, 2012). Whether policies encourage savings and investment, fund R&D, practice free trade, or promote education, the government has many tools and options for controlling our quality of life. Savings and Investment One method of boosting growth and raising standards of living is by government encouragement of savings and investment in an effort to raise capital. Unfortunately, the economic trade-off to achieve more capital requires reduced present day spending on goods and services in exchange for higher future consumption (Mankiw, 2012). To encourage savings, the government may consider a few principal actions: 1), raising current interest rates, thereby reducing demand for loanable funds and encouraging incentive to save, and / or 2), a tax reform intended for reduction of...

Words: 973 - Pages: 4

Why Is Regional Development Considered to Be an Important Eu Policy?

...Why is regional development considered to be an important EU policy? “The mission in the Directorate General for Regional Policy is to strengthen economic, social and territorial cohesion by reducing disparities in the level of development among regions and Member States. This means investing in regions’ indigenous potential to promote the competitiveness of regional economies and the permanent catch-up of those lagging behind the more prosperous areas” (http://ec.europa.eu/dgs/regional_policy/index_en.htm) I chose this essay as I found it very interesting to learn about how and why the EU develops regions when I was doing my presentation for this module. I found it surprising to discover just how important an EU policy it is and to learn why both poorer and wealthier regions require development funding, often for very different reasons. My aims for this essay are firstly to give an insight into the history of EU policy over the past fifty years, with particular reference to the European Regional Development Fund (ERDF) that was established in 1975. I will then begin with examples from Ireland, in regions where the EU consider development an important policy. From there, I will contrast this development with poorer regions in Europe, where regional development is now a major EU priority (especially regarding new Member States). As I conclude, I will highlight current and future regional development actions of the European Union. During the period 1957-1988, the......

Words: 2071 - Pages: 9

Critically Evaluate the Effect That the Washington Consensus Had Upon Emerging Financial Markets in Terms of Their Economic Growth and Volatility of Their Stock Markets? How Should the Imf and World Bank Conduct Policy

...was adopted, which lacked sustained improvements to economic growth and also saw no benefit to market volatility. Subsequent to the Washington Consensus, three main alternative approaches have emerged. Of these, the most logical appears to be adopted a target approach, which focuses on the specific context of each country and alters variables gradually. This approach seems to best address the problems encountered with the Consensus. The Washington Consensus, codified by John Williamson (1990) and informed by neoliberal theory, outlined ten specific economic policies aimed at stabilising, privatising and liberalising developing economies. It was believed that that this was the pathway to modernity for these nations (Rodrik, 2006). Specifically, Williamson (1990) recommended fiscal discipline, reorientation of public expenditures, tax reform, financial liberalisation, unified and competitive exchange rates, trade liberalisation, openness to direct foreign investment, privatization, deregulation, and secure property rights. The recommendations were heavily supported by The International Monetary Fund, the World Bank and the US Treasury. Indeed, nonconforming developing nations were put under significant pressure by the World Bank to adopt the recommendations (Rodrik, 2006). Whilst the reforms advocated by the Washington Consensus have been widely implemented, the results have been poor. On the basis of economic growth, Latin America has performed below expectations and......

Words: 1273 - Pages: 6

Policy Development

...Policy Development Natausha Crespin CJA/464 November 3, 2014 Kim Chapman Policy Development Domestic violence can be described as any form of deliberate coercion, bodily harm, sexual assault, or any other form of violent behavior committed by an intimate partner. Domestic violence has plagued all walks of life despite the age, race, religion, or background. Violence against an intimate partner is frequently followed by psychological abuse and controlling behavior relating to the methodical blueprint of power and control. Domestic violence comes in many forms but not always seen by the naked eye. Domestic violence constitutes forms of physical abuse, psychological abuse or even death that can be seen by other family members possibly causing a continuous cycle of abuse for generations to come. Facts and Statistics It is hard to grasp the notion that somewhere in the world every nine seconds a woman is being beaten or assaulted. On average, 85% of victims of domestic violence are women and 1 in every three women will endure some form of domestic violence in their natural life. Sadly enough only one fourth of all victims who have been physically assaulted by an intimate partner will actually report it to the police, implying that official statistics will never justify the full scope of the problem. The average age of a female victim who is at the greatest risk of harm by an intimate partner is between 20 to 24 years old. Domestic violence......

Words: 2543 - Pages: 11

D1: Evaluate the Effectiveness of the Use of Techniques in Marketing Products in One Organisation. Growth Strategies

...D1: Evaluate the effectiveness of the use of techniques in marketing products in one organisation. Growth Strategies Marketing Technique | Summary of how Cadburys have used this strategy | Has it been effective? | Evaluation of its effectiveness for Cadburys. | Market Penetration | Cadburys use adverts, promotions, completions, etc. to boost their sales in their current markets | yes | This has been effective for Cadburys because their sales from the end of 2013 their famous Dairy Milk bar topped the UK’s top chocolate sales. After the Olympics they saw their value sales grow by 5.1% because of their Olympic promotions and competitions but, at the end of 2012 they saw they’re sales drop, this was due to women buying less chocolate. But at the beginning of 2012 they had sales of £257m after they were bought by Kraft. In 2007 Cadbury’s spent £6m on their Gorilla advert, it was a real hit with 58000 viewers at home taking the time to watch the full-length video as well as the parody of the advert which then saw the sale grow from 2% the previous year to 7% which was outside their target percentage which was 4-6%.the advert was also voted favourite advert of the year (taken fromhttp://news.sky.com/story/581641/gorilla-helps-drum-up-cadbury-sales). They then came up with the dancing eyebrows advert which was viewed on YouTube and similar site more than four million times along with a trucks advert. With these adverts, all the adverts gave a master brand payback 171% greater...

Words: 1223 - Pages: 5

Evaluate Attempts to Manage Population Change Using China's One Child Policy

...With reference to a named country, evaluate attempts to manage population change (15) During 1959 China experienced a catastrophic famine due to relaxed population control and the promotion of large families, due to this famine 20 million people died. As a result China’s Communist government under the power of Chairman Mao introduced a number of management policies, including the ‘later, longer, fewer’ program and the more extreme ‘one child policy’. In the early 1970’s a policy known as the ‘later, longer, fewer’ program was introduced. It was the first real attempt to control population growth in China. The authorized age of marriage was raised to 25 for men and 23 for women, whilst couples were encouraged to wait later to begin their families, allow for longer spacing in between children and have fewer children overall. Contraceptive advice became freely available in an attempt to elongate the time before the first child was born. The policy was partially successful. It began to reduce fertility rates, although not fast enough to really slow down population growth due to the demographic momentum that had already developed. The One Child Policy was launched in 1979 when the total population reached 1 billion. The initial goal was to stabilise China’s population at 1.2 billion, but due to the slow effects of the ‘later, longer, fewer’ program and the two child family, had to be revised to keep the population under 1.4 billion until 2010. There were a number......

Words: 726 - Pages: 3

Policy and Development

... COMMUNITY DEVELOPMENT AND PUBLIC POLICY guidance on the application of community development approaches to different aspects of anti-poverty and social inclusion work €10 Siobhán Lynam Bridgewater Centre, Conyngham Road, Islandbridge, Dublin 8 Tel: 01 670 6746 Fax: 01 670 6760 Email: info@combatpoverty.ie Website: www.combatpoverty.ie COMMUNITY DEVELOPMENT AND PUBLIC POLICY Siobhán Lynam Community Development and Public Policy 1 © 2006 ISBN: 1-905485-11-5 While every effort has been made to ensure that the information contained in this book is accurate, no legal responsibility is accepted by the author or Combat Poverty for any errors or omissions. The views expressed in this publication are the author’s own and not necessarily those of Combat Poverty Agency. 2 Community Development and Public Policy CONTENTS Acknowledgements Preface 4 5 Introduction Background to the publication Structure of the publication 6 6 Section 1: Defining public policy 1.1 What is public policy? 1.2 How is policy made? 1.3 The public policy cycle 1.4 Example of a community organisation’s impact on policy 7 7 8 13 16 Section 2: A community-development approach to policy making 2.1 Giving voice to excluded groups 2.2 Characteristics of a community-development approach 2.3 Value of adopting a community-development approach 18 18 19 21 Section 3: Influencing public policy making 3.1 Develop a policy......

Words: 13791 - Pages: 56

One Country, Two Cultures

...the South relied on its agriculture and farming. These two differences in producing goods led to the separation in values and cultures that would divide a nation. It would take a civil war raging throughout the nation to conclude the longstanding separation between the two. The North and South were two different cultures in the same country. In the North, the soil and climate did not favor large farmlands and plantations, and so they relied heavily on industry. Factories were set up making textiles from cotton from the South. Slavery had died out because many immigrants came from Europe to work in the factories. Irish, German, and other Europeans settling in the North led to a huge population boost between 1800 and 1860. There were many skilled workers and the large urban cities were centers of wealth. Both religion and education were organized and there were schools and churches in most towns. Very few boys and almost no girls continued on to secondary school and a college education was reserved for the wealthy. They were more likely to have careers in business, medicine and education. The culture of the North was determined by life in the cities. The South’s soil and climate was ideal for agriculture and growing crops. There were very few large cities and most southerners lived on small farms. Large plantations were owned by the wealthy. Most of the population was made up of Europeans from England and Scotland. One third of the South’s population were African slaves.......

Words: 516 - Pages: 3

Critically Evaluate the Comparative Transnational Effectiveness of Benetton and Zara

...Critically evaluate the comparative transnational effectiveness of Benetton and Zara Zara and Benetton are two of the most acknowledged clothing companies in the fast fashion industry. The different international business strategies they adopt result in different transnational effectiveness. To begin with, this essay will give a brief overview of the motivation, means and mentality of these two companies, and then compare how they sustain their competitive advantages through integration, responsiveness and flexibility. Next, it will highlight their evolving strategies and demonstrate the structures, worldwide learning and innovation models they adopt to support the strategies. Finally, the evolving global roles will be analyzed. Motivation, Means and Mentality As well-known leading clothing corporates, Zara and Benetton both choose to expand aboard. Although their motivations to internationalize are quite similar, their means and mentalities are different in many ways. Basically, there are two kinds of motivations: traditional motivations and emerging motivations. The biggest traditional factor that drives Zara and Benetton to expand aboard is market-seeking. The former CEO of Inditex, Jose Maria Castellano, pointed out that the limited market growth potential in domestic market was the main driver for Zara to go aboard (Martinez, 1997). In 1988, Zara opened its first overseas store in Oporto, Portugal as the first step to occupy global market (Lopez and Fan, 2009)....

Words: 2091 - Pages: 9

Inclusive Growth and Agricultural Development

...Group Assignment What role does agriculture hold for inclusive growth in Africa? Drawing lessons from the African continent, provide evidence for the emerging consensus on the future role of small-holder farming for Africa’s economic growth. Table of contents 1 Introduction 4 1.1 Definition of inclusive growth 4 1.2 Africa’s economic growth narrative 5 2 The Challenges of Africa’s Agricultural Sector 8 2.1 Issues surrounding Land Tenure and concomitant effects 8 2.2 Low diffusion and absorption of technology 11 3 The Role of Smallholder Farming for Africa’s Economic Growth – Evidence of an Emerging Consensus 13 4 Smallholder Farming Success Narratives 15 4.1 Botswana: Competitiveness of beef smallholder farmers 15 4.2 Ethiopia: Commercialisation of small scale farmers of grain 16 5 Conclusion and Recommendations 17 References 20 Agriculture and its role in inclusive growth in Africa 1. Introduction The purpose of this report is to consider the position of agriculture in Africa, and the potential that it has for improving the lives of the majority of those living on the continent. The report starts off with defining inclusive growth, and highlights how agriculture can contribute towards this phenomena as a consideration. It then talks to agricultural concepts and considerations in the African context, and attempts to identify African specific challenges and provide workable solutions. The paper also reflects on an emerging consensus......

Words: 5637 - Pages: 23

Critically Evaluate the Potential Justification for Protectionism

...Critically evaluate the potential justification for protectionism Introduction A number of governments are concerned with unemployment and recessionary impact following the financial crisis. The result of this has been for many to be being placed under political pressure to implement protectionist instruments such as tariffs. quotas and subsidies (Love et al, 2014). This essay will identify the five principal instruments used by governments for protectionism and their consumer welfare implications. It will then seek to critically evaluate the justifications used for protectionism. Protectionist instruments and their welfare implications Protectionist instruments can be defined as a policy though which a government seeks to control international trade for the purpose of protecting local businesses or employment from foreign competition (Krugman et al, 2012). A Tariff is a tax which is levied on imported goods. Tariffs on goods increase their price in an economy and can be specific or ad velorum i.e. a proportion of the value of the good against which a tariff is raised. Tariffs impact on the welfare of market participants can be considered in the context of small countries (where foreign export prices cannot be affected) and large countries (where they can), the outcomes for which may be different. In small countries where tariffs are introduced, importing economies experience increases in imported goods and the price of substitutes manufactured locally, reducing......

Words: 1824 - Pages: 8

Two-Child Policy in China

...Proponents 4 Opponents 5 Advocate for the two-child policy. 6 Promoting consumption 6 Solving population aging problems 7 Balancing skewed sex ratio 7 Boosting the real estate 8 References 9 Introduction China has resolved to put an end to the three-decade-long one-child policy and each couple are allowed to have two children. Shortly after the announcement of the two-child policy, the article in appendix was written by a professor at Shanghai Academy in China Daily to advocate for the policy. And the target persons are citizens in China who meet the two-child policy requirement. The author used specific statistics to elaborate the population aging problems in current society (Logos). He demonstrated objectively that the two-child policy will benefit China both in the short run and long run and explained the benefits from improving demographic structure problems, boosting development of the service sector, strengthening domestic consumption and increasing innovation (Qu, 2015). The article was published at the right time when the two-child policy has been hotly debated. It would attract attraction of people who focused on this topic. And the author suggested the authorities put the two-child policy into force with assistance of more supportive policies as soon as possible (Kairos). At the beginning of the establishment of the People’s Republic of China, the population boom, regarded as a strong basis of economic growth, was encouraged by leaders. They......

Words: 1907 - Pages: 8

Financial Development and Economic Growth

...financial development and economic growth nexus 1 1.3 Review of the empirical literature 4 1.3.1 Time series 5 1.3.2 Cross-country studies 6 1.3.3 Panel data studies 7 3 Conclusions 8 4 References 9 1 Introduction “Finance is powerful. The financial system can be an engine of economic prosperity – or a destructive cause of economic decline and misery.” Levine, R. (2011) p.85 Obviously, financial system and economy are related. But what is the nature of this relationship? The objective of this paper is to critically evaluate the existing theoretical and empirical literature on the finance-growth nexus. What is the role of the financial sector in economic growth? Does finance cause growth or simply follows it? There is no wide agreement about this task among recognised economists. Even Nobel Prize winners disagree in regard to the role of finance in economic development. Levine (2003) states that the role of finance as a major determinant of economic growth is over-stressed. Moreover Levine (2003) argued that where enterprise leads finance follows. Quite the opposite, important acknowledgment should be taken into account and it follows as “[the idea] that financial markets contribute to economic growth is a proposition too obvious for serious discussion.” Levine (2003) p.1 Similar to that, he also declared that the finance growth nexus cannot be safely ignored without substantially impeding our understanding of economic......

Words: 3466 - Pages: 14