views about the relation between economic growth and financial development. First‚ financial development has impact on economic growth (i.e. Bagehot‚ 1873; Schumpeter‚ 1912; McKinnon‚ 1973; Shaw‚ 1973; Patrick‚ 1966; Goldsmith‚ 1969; Fry‚ 1973). Second‚ economic growth leads to financial development and that where there is economic growth financial development follows (i.e. Robinson‚ 1952). The third view‚ however‚ contends that both financial development and economic growth Granger cause one another
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now the third-largest in Asia and the 13th largest in the world by GDP as of 2007. To trace back the economic development of South Korea‚ the former president Park Chung-Hee played a pivotal role‚ and was credited for shifting its focus to export-oriented favoring a few large conglomerates. Unlike his predecessors‚ Park showed a strong commitment to economic development‚ believing good economic performance as a primary means for enhancing his political legitimacy. Under the President Park Chung-Hee’s
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ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT The entrepreneur who is a business leader looks for ideas and puts them into effect in fostering economic growth and development. Entrepreneurship is one of the most important input in the economic development of a country. The entrepreneur acts as a trigger head to give spark to economic activities by his entrepreneurial decisions. He plays a pivotal role not only in the development of industrial sector of a country but also in the development of farm and service
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1.1 Explain the historical development of one major therapeutic model‚ including the people influential in its development In the 1890’s Sigmund Freud‚ a German neurologist developed a theory later to be called psychoanalysis‚ which allowed individuals to tell their problems to a ‘psychoanalyst’ an individual trained in interpreting the ‘subconscious’. He played an important part in the history of counselling but the actual word “counselling” did not come into everyday language until 1960’s. Counselling
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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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Sustainable Development‚ from Kyoto to Durban Germany vs. China Professor Frank Peng Chair of Economics Director of World Bank Studies School of Economics and Management Tongji University Shanghai December 16th‚ 2011 Table of contents Introduction.................................................................................................................. 1 From Kyoto to Durban ................................................................................................. 2 Kyoto
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Inventions nowadays involves technologies and one of those is video games. Video games is a popular hobby today‚ be it a teenager or an elementary student‚ everyone gets addicted to it. There are a lot of people who says that playing video games have negative effects and these children most of the time argue with their parents on the time they spend on video games. So‚ this paper aims to discuss the pros and cons of the said issue. Some examples of the positive effects is it can improve your
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Explain how the Economic Policies of Lenin changed 1918-1924 8 marks Lenin changed his economic policies during the Civil War to introduce communism and to ensure he stayed in power. He enforced these changes using terror from the Cheka and Red Guard Lenin centralized the government because of the civil war as it meant that only one man was approving all orders from the army which made them more efficient. He centralized the economy to Moscow and introduced Gosplan‚ which was the central planning
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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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An economic system is the result of individuals (consumers and producers)‚ groups (firms‚ trade unions‚ political parties‚ families etc) and the government coming together and interacting in a legal and social society. The function of an economic system is to resolve the basic economic problem - scarcity which means that the resources are limited but wants are infinite. This distribution has three dimensions: * What is to be produced * How is it to be produced * For whom is it to be produced.
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