on the effective means of innovation. The concept of innovation allows the development of new ideas‚ inventions and their making come to pass. Economic development undertakes the adoption of new market technologies and industry based economies to see and improvement in economic standards as well as an increase in the net gain of money flow. In regards to the three ideas of entrepreneurship‚ innovation and economic development I will discuss why I believe they co-exist. Where sustainability fits in
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Economic development challenges > > Vietnam had been heavily wounded after centuries of being colony and only be able to claim independent 35 yrs ago from the American war. The Vietnamese economy was shattered after the United States Government had dropped Agent Orange on crops‚ bombed farm lands and imposed heavy sanctions after the ’pull out’ of American troops. Vietnam’s agriculture‚ business and industry were devestated. The economy was left with by small-scale production‚ low labor productivity
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This paper argues on both theoretical and empirical grounds that‚ beyond a certain point‚ there is an unavoidable conflictbetween economic development (generally taken to mean ’materialeconomic growth’) and environmental protection. Think for a moment of natural forests‚ grasslands‚ marine estuaries‚ salt marshes‚ and coral reefs; and of arable soils‚ aquifers‚ mineraldeposits‚ petroleum‚ and coal. These are all forms of ’natural capital’ that represent highly-ordered self-producing ecosystemsor
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THE IMPACT OF EXTERNAL DEBT ON ECONOMIC GROWTH IN NIGERIA. BY ABUBAKAR SADIQ SALEH Department of Banking and Finance‚ University of Abuja abubakar008@yahoo.co.uk ABSTRACT Debt is borrowing that is either for the purpose of smoothening the consumption path in the face of transitory shocks or as a means of supplementing domestic savings in order to expand productive capacity and raise the long – run growth rate. The objective of this work
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Income Inequality‚ Economic growth and its effects . Abstract “Some people are of the view that income inequality is a necessary part off the growth process‚ that it is generally unavoidable and that policy should focus on ensuring that everyone is doing better rather than focusing on narrowing the income gap” whilst other agrue that it hinders growth. This assignment was carried out to investigate and debate the theoretical and empirical views of the above statement as well as share my own
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answer. Eyeballing any cross sectional data on growth across countries shows that countries grow at different rates. Many theories try to explain this phenomenon with emphasis with capital accumulation being one of them. I will start by developing the standard neoclassical growth model as developed by Solow(1956)[1]. I will then proceed to discuss the extensions that have been made to this basic model in an attempt to better understand actual growth figures‚ for e.g. the standard neoclassical model
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THE DEVELOPMENT OF A WORLD ECONOMIC SYSTEM A Summary of Immanuel Wallerstein‚ The Modern World System: Capitalist Agriculture and the Origins of the European World Economy in the Sixteenth Century (New York: Academic Press‚ 1974) In his book‚ The Modern World System: Capitalist Agriculture and the Origins of the European World Economy in the Sixteenth Century‚ Immanual Wallerstein develops a theoretical framework to understand the historical changes involved in the rise of the modern world. The
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significance of economic development to international marketing. 1) Why is the knowledge of economic development of importance in assessing international business opportunity? The knowledge of economic development is of importance in assessing international business opportunities because it helps companies to plan their marketing strategies. Marketing strategies must be tailored to the level of development in a country. Therefore it is important to know if a foreign country is stable‚ its growth potential
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Introduction to Economic Growth In this report‚ the economic growth of Australia‚ USA and India is discussed. Economic growth is key factor to economic development. People of the nation are benefited when national income grows. The is no any scientific method of formula to measure the economic growth whereas the data‚ charts and other information can be helpful for strategy-makers to understand the countries’ economic positions and design a framework to guide for an effort toward development. Data are
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1.0 Introduction Although inflation is generally thought of as an inordinate increase in the general price level‚ throughout the history of economics the causes of inflation and the definition of inflation itself remained as an unresolved issue. There is a general agreement that‚ in the long-run‚ inflation is a monetary phenomenon. In short-run‚ however‚ many other factors could cause inflation that instigates unsettled debate on the causes of inflation. Every school of economists tries to define
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