The Long Term Economic Growth - 1290 Words

As a product of colonization, the limited industrial development in the colonized area is a global issue. Because the widening gap between the rich and the poor between developing and developed countries, is the root reason of most of the contradictions and conflicts between countries in the contemporary world. And different level of industrialization caused the widening gap. So we can say the limited industrial development caused by colonialism is a real issue behind many current contradictions and conflicts. In order to reduce these conflicts and narrow the gap, the colonized countries should make a breakthrough on its limited industrialization by focusing on its own features-- resources and structures, and taking effective measures-- impoting foreign capital and technology and establishing independent or joint scientific research and ventures, to gain a long-term economic growth. For the relation between the colonization and the limited industrialization in colony, there are usu ally two views. One view is that people blame the colonizer were not willing to promote the development of industry in the colony. The other view is that people emphasize it was hard for the colonized to start the process of industrialization in the colony. In my opinion, both of the views are reasonable, but neither of them is comprehensive. In order to demonstrate my opinion on the relation, I choose British India and the Belgian Congo as two objects to analysis in the following paragraphsShow MoreRelatedThe On Long Term Economic Growth1768 Words   |  8 PagesThe government of Australia intends on focusing on long term economic growth specifically in relation to small business. The purpose of this report is to understand and analyses how the 1.5% tax cut on small business actually impacts or will potentially impact (positively or negatively) the economy. In relation to this topic, microeconomic theories have been used to gain an insight. For this purpose, most data have been co llected from secondary sources like literature reviews, journal article, governmentRead MoreShort Term And Long Term Perspective Of Institutional Development And Economic Growth Essay829 Words   |  4 PagesShort-term orientation (LTO) retrained focuses on the degree the society embraces, or does not embrace, short-term devotion to keeping up with the joneses (Itim international, 2015). â€Å"There is a dramatic need for a comprehensive strategy of Eurozone stability, institutional consolidation, and economic recovery and development that goes to the roots of the trouble, and places the necessary short-term stabilization measures within the long-term perspective of institutional development and economicRead MoreLong And Short Term Effects Of The War On Sri Lankans Economic Growth760 Words   |  4 Pagesparts. Part A is Long and Short term effects of the War on Sri Lankans economic growth(Ganegodage Rambaldi, 2014), in which the researchers propose a theoretical and econometric framework to evaluate the impact of war oneconomic growth of a developing country with an open economy and test it with Sri Lankan data (1960-2008). The hypothesis of this study isthat the war has negative effects on GDP in both short and long-run. Part B: Modelling volatility of US personal consumption growth which based onRead MoreThe pursuit of economic growth is not in peoples long term interset. To what extent do you agree or disagree with this statement. Discuss2336 Words   |  10 PagesIntroduction: Economic growth is the percentage increase in total output of the economy at constant prices. In another way, Economic Growth is defined as the way that the real income of an economy increases over time. Such increases mean that real incomes have improved and so probably have living standards. 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Macroeconomics stability ensures that theRead MoreEconomic Growth Out of Recession616 Words   |  3 Pages In 2007-2009 the recession in the U.S economy was long and deep. At some point the economic activity was reasonable in 2008, but the economy overtaken by a financial problems t hat could improve the economic weaknesses. The economy was recovered in mid of 2009. GDP has been in a stable path since then, although the jump has been unequal and slowed down in 2011. The high rate of long term unemployment and the labor rate has decreased the labor market. In the paragraphs below, I’m going to defineRead MoreEconomic Growth And Economic Development1177 Words   |  5 PagesEconomic growth and Economic Development is of the highest priority in regards to a well-functioning sovereign state. Economic growth powers an economy through the stability ensured by equilibrium in the circular flow of money accompanied by: growing international competitiveness in a globalised market, increase in real GDP through the appropriate allocation of resources most suited to the expansion of the economy, increase in aggregate demand and increased efficiency in the economy. Stagnation orRead MoreEconomic Growth and Development1547 Words   |  6 Pagesï » ¿ECONOMIC DEVELOP MENT AND GROWTH Economic development and growth may not be the same thing depending on how growth rate is affecting the countrys socio-economic development. However important and well known theories of macro-economic suggest that if markets are left on their own, people will improve their socio-economic wellbeing automatically as the result of better economic growth rate of the country. In other words, financial liberalization automatically leads to socio-economic uplift as suggested