authority implements to maintain price and exchange rate stability, it is crucial to achieve a sustainable economic growth and external viability. Monetary policy is addressed to control the growth of monetary aggregates and assists other macroeconomic policy tools to achieve macroeconomic goals of low and stable inflation, balance of payment viability, employment growth and sustainable growth (Lindsey and Wallich, 2008). It is considered that monetary policy works along with other policy tools
development or does economic development first before democracy? These questions and many other academic questions surrounding the development issue are on the debate. Therefore this paper does not answer many of these questions but here I would like to present the effects caused by two prominent political systems of the world, Democracy and Authoritarianism. In this short easy we would like to focus on ways of effects they had in development, how do democracy effect the economic development of a country
Economic development – A regional perspective The economic reforms have positively contributed towards the nation’s development in a macro perspective. Improvement in trade relations between nations and the free movement of goods and services led to increased growth in the economy. Thus the globalisation and liberalised economic policies by different nations has gradually frayed many national and state economic institutions. Globalisation has also played a key role in industrial development and
but it’s seen that with each passing day population and their needs increase. This increase also makes the productive capacity increase with labour force, machines, raw materials, and natural resources taking part in and that’s how economic growth occurs. Economic growth is an increase in a countries productive capacity to produce goods and services using all its sources and it can be measured with GDP but the desirability of economy cannot be measured. The GDP (Gross Domestic
In view of the foregoing, there are two basic growth model that has been generally recognized with respect to fiscal policy. Neoclassical growth models with respect to Fiscal Policy imply that government policy can affect only the output level but not the growth rate. However, endogenous growth models incorporate channels through which fiscal policy can affect long-run growth (Barro-Sala-i-Martin, 1991). The later models classify generally the fiscal policy instruments into: (i) distortionary taxation
economy and in fostering accelerated economic growth in Less Developed Countries (LDCs) (Ketema,2006). Government spending encompasses the expenses made by the government for the maintenance of itself and for the provision of public goods, services and works needed to promote economic growth and improve the welfare of people. It is also through spending that the government adopts various fiscal measures to ensure stability, stimulate economic activities and growth (Santiago and Gaobo, 2005). According
between democracy and economic growth has generated much controversy, research, and even bewilderment. If economic development is an expression of the level of development of societies, it will also be compatible with the level of democratic development. Democracy will become a catalyst and engine of economic and social development in society. To what extent does the economy affect the building of democracy? Is democracy a condition for economic development, or is economic development laying the
2015 ECOFIN What is economic growth and what affects it? Economic growth is an increase in the amount of goods produced per head of the population over a period of time. It is affected by many aspects under many circumstances. There are two types of factors which impact the economic development and growth in a country, they are economic factors and non-economic factors. First, economic factors include natural resources, technology, currency, and trade. Secondly, non-economic factors include human
opportunity to introduce her to the community and highlight her knowledge and renounce in finance and economics; but also to hear the diverse perspectives of various current economic and political topics among two highly recognized characters whom expend years of knowledge and experience.
spatial development as political transformation significantly influence the cohesion of urban transformation in Guangzhou. Proposal While Hong Kong and Macao being the colony settlement of British and Portuguese, Guangzhou clear obtain some of the colonial value for these two settlements being one of the most important port city on the Southeastern region. Therefore, Guangzhou contains both Chinese characteristic and Western influence which is one of the most remarkable