includes the economic prosperity, economic depression, and economic recovery, that is experienced for a long period of time. The recession is also defined in the reduced demand for services, wherein there is a reduction in different types of services and really affects in the growth of the gross domestic product rate or the GDP rate. Inadequate goods and supply really affect the economy by having a scarcity and limited supplies of goods. The word “recession” refers to a period of economic activity is
Agglomeration and Economic Growth 1. Introduction More than one century, the geographic experts, economic experts, city planner, business strategy experts, regional scientists and others social scientist have been tried to explain about “why” and “where” the location of economic activity. Imbalance distribution of regional economic activity in a country becomes the main concern (Kuncoro, 2002). According to Andersson and Loof in Widodo and Salim (2014), Agglomeration economies or location specific
The estimation is carried out by pedronis panel cointegration technique to evaluate the causal relationship between globalization and its economic, social and political dimensions and growth. The empirical evidence shows weak short run causality but in long run unidirectional causality from the globalization to growth can be observed. The beneficial effect of globalization on growth is further
---------------- Abstract: Now-a-days the topic of financial inclusion is standing as an emerging new model of economic intensification. Financial inclusion is the recent notion which helps to accomplish the sustainable progress of the country, through accessible financial services to the unreached people with the help of financial institutions. Thus it plays a vital role in economic development
Given the historical hardships that the African continent has experienced, it is no surprise that its walk to economic freedom is but a speedy one. Due to cultural traditions and beliefs that have suppressed women and restricted them educationally, socially and economically, it is explicable that they are the least active as entrepreneurs in the continent. As successful American Entrepreneur and Television personality, Lori Greiner asserted, “Entrepreneurship is the way we take control of our lives
Entrepreneurship and Measures of Firm Entrepreneurship Activity The main hypothesis of the economic theory of entrepreneurship is that in the economy firm entrepreneurship contributes to production through the combination of the existing productive factors. Innovation and firm entrepreneurship are found to have positive economic effects mainly in terms of employment opportunities, taxation revenues and economic output. The measurements of these positive effects provide the basis of international comparisons
With the continuing rapid pace of socio-economic development, there are emerging challenges for our environmental obligations in the government's constitutional mandate to "secure ecologically balanced sustainable development, while promoting justifiable economic and social development". Periodic reporting on the State of the Environment informs our citizens and also helps the government in this mandate by identifying emerging issues and recommending effective actions. To address environmental issues
to defend the libertarian approach to economic policy. Many of Friedman’s core economic ideas are explained in this book. In the beginning, we can clearly see Friedman’s conception of a liberal who clearly defends the decentralization of power, limited government, constitutionalism, private property rights, free enterprise economics, and liberal’s freedoms of speech. Chapter one is about economic freedom and political freedom. Friedman argues that economic freedom and political freedom are related
You get less of it.” This speaks to the basic supply and demand rules, that a higher price causes a decrease in demand. Another advocate for not raising the minimum wage is Richard Florida. He agrees with Boehner and states, “Over 85 percent of economic studies in peer reviewed journals say job loss occurs after an increase in minimum wages.” Florida goes on to say that no matter what size the increase for minimum wage is, the effects on employers will be widespread. Individuals who are seeking
were the USA economy expanded rapidly. At that time people had found a new way of making money, very fast, through the buying and selling of market stocks. The interesting thing about this ‘new’ way of making money is that it did not differentiate economic status, hence the problem. Because anyone could buy and sell stocks, individuals (and therefore families) started to use their life savings on the stock market as a way of savings (and investment) not taking into account the risks that this entailed