Introduction Hitherto‚ development has been measured solely by economic indexes‚ such as accumulation of capital‚ utilization of international investment‚ GDP per capita‚ and many more. Such figures allow easy evaluation and comparison across borders‚ but fail to account for other less easily quantifiable factors that might also influence development. Recent studies on development look beyond purely financial measures like free choice‚ medical care availability‚ education‚ equality or political
Premium Amartya Sen Capability approach Human Development Index
Japan: The Miracle Years What is the so-called “Japanese Miracle” - How did the Japanese achieve it? GNP increased about 5 times in a span of about 20 years. The country saw a 10.1% compound rate of growth in 17 years. How: * Industrial Policy: government weighs in on what industries are winners vs. losers‚ then supports the winners. * Govt agencies worked together to help shape the future growth and create stability: Ministry of International Trade‚ Ministry of Finance and Economic
Premium Investment Economics Japan
China’s Successful Economic Growth China may share some economic growth patterns with Japan‚ Korea‚ and Taiwan due to cultural similarities‚ geographic location‚ similar economic development strategies‚ or‚ in the case of Japan‚ relatively large size of the domestic economy. China’s economic growth is expanding at a great pace‚ while other countries may be at a standstill. China has been the world ’s fastest-growing economy. One of the main stimuli twelve years ago was the release of Hong Kong
Premium World Trade Organization Economic system Investment
TABLE OF CONTENTS SECTION 1…………………………………………………………………………………….3 1.0 Introduction ………………………………………………………………………………...3 1.1 Historical background of national income …………………………………………………3 1.2. Overview of issues of National income in the world………………………………………3 SECTION 2……………………………………………………………………………………5 2.1. Definition of national income ………………………..........................................................5 2.2. Factors that determine national income…………………………………………………...6 2.3. Methods to measure
Free Gross domestic product Economics
The Economic Rise of China The international system has always been one of anarchy and chaos‚ as there is no overarching government to rule. Due to the structure of the system being anarchic in nature the international stage is one of constant change. For the past ten to twenty years the United States has managed hold the status of the world leader in almost any facet of the imagination at some point in time during its hegemonic reign. The United States has especially been a dominant economic figure
Premium Economics Capitalism Economic system
Over VIew South Korea was the one of the poorest country in the world in 1953 and GNP per person was $67. However‚ South Korea started to develop rapidly since 1960 and reached 10 million dollars of national income in twenty years. Now Korea is one of the G20 members with GDP of $ 1.116 trillion ( 2010 ) . Country studies Korea’s economy was based on agriculture in early days. However‚ contribution of agriculture decreased as Korea industrialize . Agriculture and domestication of Korea
Premium Industry South Korea Public sector
Economic growth‚ specifically long-term economic growth‚ and development relies on the capability of human capital to accumulate value. This means the ability of team managers to be more efficient with asset production‚ but also making sure efficient fund allocation is implemented and invested in the most useful places. Traditionally‚ banks‚ alternative financial institutions‚ stock markets‚ pensions funds have been utilize to evolve individual savings from income into additional capital monitored
Premium Economics Economic growth
DEFINITION Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. Economics may be defined as a science that deals with the activities of man in obtaining wealth for the satisfaction of his wants. Economics is the art of making a living. Economics is the proper allocation and efficient use of available resources for the maximum satisfaction of human wants. Economics is the branch of social science
Premium Economics Inflation Unemployment
--ASEAN --Region --Supranational Organizations --Formal & Functional Region --Per Capita GDP and GNP --Functional Interaction --Shatter-Belt --Absolute & Relative Location --Site & Situation --Culture --Globalization --Cultural Landscape
Premium Southeast Asia China Chiang Kai-shek
REVIEW FOR EXAM 1 Chapter 1 1. How do we measure standard of living Measuring the standard of living in a country is to use real national income per capita. This is found that dividing real national income (GDP or GNP) by the total population. 2. How can European Unemployment be reduced? Central bank should decrease interest rates‚ and allow for an increase in demand‚ and unemployment would decrease. They need to be less protective‚ to eliminate these labor market rigidities‚ and to
Premium Inflation Economics Unemployment