China Economic Review 17 (2006) 395 – 411 Financial development and economic growth: Evidence from China Qi LIANG a‚b‚*‚ Jian-Zhou TENG c‚d b Department of Finance‚ School of Economics‚ Nankai University‚ Tianjin‚ 300071‚ China Graduate School of Commerce and Management‚ Hitotsubashi University‚ Kunitachi‚ 186-8601 Tokyo‚ Japan c Graduate School of Economics‚ Hitotsubashi University‚ Kunitachi‚ 186-8601 Tokyo‚ Japan d School of Mathematics and Statistics‚ Northeast Normal University‚ Changchun
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achieved great economic growth within the last half century despite having been devastated by the korean war and having a GDP per capita in 1960 comparable to the current Republic of Congo[1]. Todays South Korea has a total GDP similar to that of Italy and Canada[1] but how did it get there? The following essay will examine how South Korea achieved this growth and will focus on how foreign aid‚ education‚ import substitution‚ exports and the chaebol helped South Korea’s economic development. Foreign
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In economics‚ deflation is a sustained decrease in the general price level of goods and services.[1] Deflation occurs when the inflation rate falls below zero percent‚ resulting in an increase in the real value of money — a negative inflation rate. This should not be confused with disinflation‚ a slow-down in the inflation rate (i.e. when the inflation decreases‚ but still remains positive).[2] Inflation reduces the real value of money over time‚ conversely‚ deflation increases the real value of
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Economic inequality is the variance found in many processes of economic well-being among individuals in a group‚ among groups in a population‚ or among countries. Economic inequality is sometimes called income inequality‚ wealth inequality‚ or the wealth gap. Social inequality arises when resources in society are distributed unevenly‚ through the types of distribution‚ which create specific patterns along the lines of socially defined groups of people. It is the different preference of access of
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The United States of America is seen as one of the most powerful countries in the world‚ however years ago it struggled with economic disasters ‚ similar to what developing countries are facing today. However today‚ the United States is still not immune to these disasters‚ an example of this is the recession of 2008‚ that affected thousands. The financial panics and economic depressions that the country faced‚ has helped it to be more prepared for future expected bumps in the road. From each economic
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POPULATION GROWTH AND ECONOMIC DEVELOPMENT The consequences of population growth on economic development have attracted the attention of economists ever since Adam smith wrote his Wealth of nations. It was only Malthus and Ricardo who created an alarm about the effect of population growth on the economy. Population and Economic Development However‚ the consequences of population growth on the development of LDCs are not the same because the conditions prevailing in these countries are quite different
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could not travel to the West. That was until railroads started getting built on both sides. Building railroads did have downfalls though‚ as the building process was very hard on their bodies. It was also very hard to get supplies to the building. Then people invented different types of track to help evolve the building of the railroad systems. Railroads helped evolve the United States into what it is today‚ despite all the rough patches the Americans faced to make it happen. Beginning in the nineteenth
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investors to serve as the catalyst for technological advancement and societal development. Why did Spain become a world power from 1492-1763? Money. The same could be said of the United States in the 20th century. Money enables the discovery‚ invention‚ and innovation that serves as the foundation for population growth‚ technological advancement‚ and‚ ultimately‚ globalization. The cornerstone of what brought the world from many villages to one village is the ever-expanding access to capital and liquidity
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Economic growth From Wikipedia‚ the free encyclopedia This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (April 2011) GDP real growth rates‚ 1990–1998 and 1990–2006‚ in selected countries. Rate of change of Gross domestic product‚ world and OECD‚ since 1961 Economic growth caused the production-possibility frontier to shift outward. Economic growth
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foreign policy‚ we must first understand the American outlook; what America thinks of itself. Americans have believed that the United states was different from nation states. Different in a sense that‚ they have always thought that they have (a) a special destiny and (b) A sense of mission. Now‚ since they have always thought of themselves as different from other nation states‚ that most important factors which influenced Americas self-image were: Isolationism‚ Moralism and Pragmatism. Isolationism:
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