...Economics of Global Shale Gas Development Shale gas is considered as a “game changer” for the US and global gas markets. Gas production from shale gas in the US has significantly reduced US gas imports in the last five years. Shale gas has become a common discussion topic in the industry as nobody wants to miss the opportunities that are related to the exploitation of gas from these resources. Policymakers in many countries with shale gas resources are seeking to replicate the success of shale gas in the US. This short write-up provides: (a) Summary of the global shale gas resources (b) Estimated economics of shale gas development Some useful rules of thumb are provided that can be used to quickly assess the estimated profitability of shale gas development. Natural gas is produced from different types of gas accumulations. These accumulations are classified into conventional and unconventional gas (UG) resources. The conventional gas can be either associated gas (gas produced with oil), gas cap gas (a gas column in direct communication with oil column below) or non-associated gas (gas reservoir by itself). The unconventional gas is non-associated gas and it comes from hydrocarbon bearing formations that are classified as Tight Gas, Coal Bed Methane (CBM), Shale Gas and Gas Hydrates. Gas has been produced from tight gas and CBM for more than three decades. Production from shale gas started about a decade ago. In 2011, the US Energy Information Administration...
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...Politics and Economics of the Third World viz a viz Theories of Development Student’s Name: Course: Tutor’s Name: 17/05/2013 Outline i. Abstract ii. Introduction iii. Literature Review iv. Method of Analysis v. Analysis vi. Conclusion vii. Works Cited Abstract This paper analyzes the politics and economics of the third world. It seeks to provide information about development and the steps that countries in the developing world ought to follow in order to attain economic development and growth. The rationale is that the countries in the developing world have continued to experience challenges that hinder growth. This study will use theoretical models of development and discuss various aspects of development and politics in the third world. Keys Words: Third World Development; Modernization; Globalization; Global South Introduction Various theories propose ways through which a developing country can achieve economic growth while at the same time attaining development. This has precipitated politics in the global south. This paper seeks to explore various development theories proposed by various authors. Besides, the paper will explore elements of economics that are pertinent to the third world countries. This is in recognition of the fact that many countries in the third world still grapple with poverty and slow economic development. From Immanuel Wallerstein to Rostow, the paper will...
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...Globalization and the Information Economy: Challenges and Opportunities for Africa1 Derrick L. Cogburn, Ph.D. University of Michigan School of Information and Global Information Infrastructure Commission – Africa Catherine Nyaki Adeya, Ph.D. United Nations University Institute for New Technologies Prepared as a working paper for the African Development Forum '99 24-28 October 1999, United Nations Conference Centre United Nations Economic Commission for Africa Addis Ababa, Ethiopia 1 Copyright © 1999 Derrick L. Cogburn (dcogburn@umich.edu) and Catherine Nyaki Adeya (nyaki@intech.unu.edu). This paper reflects the opinions of the authors and not necessarily those of the institutions represented. Comments on the paper are welcome, and an updated version can be found at: www.si.umich.edu/~dcogburn/info_econ.htm. and www.intech.unu Derrick L. Cogburn and Catherine Nyaki Adeya ii ACKNOWLEDGEMENTS The authors would like to thank the officers and staff at the United Nations Economic Commission for Africa for their untiring patience and assistance on the st preparation of this paper. Special thanks to the team organising the 1 African Development Forum. Dr. Cogburn would like to thank his colleagues at the Global Information Infrastructure Commission for their assistance and support on the paper. Also, at the University of Michigan, he thanks his friends and colleagues at the School of Information, the Alliance for Community Technology, and the Centre for AfroAmerican...
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...Skip to content HOME BLOG A2 GEOGRAPHY Discuss the roles and relative importance of NICs and TNCs in a changing global economy. Discuss the roles and relative importance of NICs and TNCs in a changing global economy. An economy is the activities related to the production of goods and services within a specified geographic region. This can exist on a national scale, the trade and services within a country, but equally, if countries trade goods and services with each other, their economies interact, it can happen on a global scale, this is known as globalisation. This interaction of economies on a worldwide scale is else known as the global economy, and NICs and TNCs play a fundamental role in changing how it operates. An ‘NIC’, else known as a ‘newly industrialising country’ is a country where industrial production has grown sufficiently for it to become a major source of their income as a nation. A ‘TNC’ is a company that operates in at least two countries. They often have management headquarters in their home country and operate in host countries alongside; examples would include GlaxoSmithKline, BP, Wal-Mart and Coca-Cola. NICs are having a prominent impact on sculpting the global economy. They are characterised by the fact that they are gaining an increasing share of the world manufacturing output, a significant growth in their manufactured export production and a significant annual growth in their manufacturing sector. The first generation of NICs were,...
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...Countries (NICs) on the global economy. (10) Newly industrialised countries are countries whose level of economic development ranks somewhere between the developing and first-world classifications. These countries have moved away from an agriculture-based economy and into a more industrialised, urban economy. They have experienced rapid growth over the last 40 years because they often have very low labour costs, attracting TNC’s and encouraging foreign direct investment. TNC’s get enticed by low labour costs, large English-speaking workforce and reduced trade tariffs. NIC’s are characterised by the fact that they are gaining an increasing share of the world manufacturing sector. The first generation of NICs were known as the ‘Asian Tigers’ – Hong Kong, Taiwan, South Korea and Singapore. They attracted many TNCs because of low cost of land, cheap labour, reduced trade tariffs, and expanding domestic markets (increasing demand). The Tigers achieved massive economic growth with Hong Kong's GNI per capita grew from $1800 in 1973 to $32,950 in 2008. However, the growth model of the Asian Tigers can be criticised. They have not followed the typical model of import substitution with an aim of becoming self-sufficient, instead they have focused on exports, arguably preying on the on the healthy economic state of MEDC’s. But this activity isn’t sustainable within the global economy, from the 1960s to the 1980s the Tigers pursed this method of development, but by the 1990s their...
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...it is essential to national, social and economic development. Today, more than ever before in human history, the wealth-or poverty-of nations depends on the quality of higher education. Those with a larger repertoire of skills and a greater capacity for learning can look forward to lifetimes of unprecedented economic fulfillment. But in the coming decades the poorly educated face little better than the dreary prospects of lives of quiet desperation. The world economy is changing as knowledge becomes a key source of wealth. Expanding educational opportunities can lead to income growth, skilled labor pools, expanding choices and increasingly relevant skills that can help promote development. A recent study shows that faster rates of growth were associated with increases in human capital and the ones which had more rapid growth had more developed secondary and tertiary systems at outset. Higher education is necessary for growth but not sufficient. It is vital that the social, political and economic structures and the technological level of society to which the educational system belongs are such that graduates can actually make use of their accumulated knowledge. The emergence of a global economy due to increased trade, investment and mobility of people across borders have forced nations to adapt their systems of higher education to the changed global realities. Countries are shunning their inward looking policies and marching towards global competiveness. Many countries also looking...
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...the role of development finance in economic development in Sub-Saharan Africa. Development Finance is practice of using scarce financial resources in an unconventional ways in order to advance economic activity(ies). According to (Nyembezi, 2009), development finance makes the economy run smoothly and effectively. The aim of the development finance is to look at the challenges and design the framework as well as stimulating core activities that will develop the economic growth. As stated by (Nyembezi, 2009) development finance, in an economy, can be compared to oil in a vehicle engine that ensures its sound and smooth operation. According to (Ocran, 2012), development finance is concerned with the financing of development at: • Household level • Firm level • Geographical area/national/regional level This paper looks at the role of development finance at national and regional level in economic development in Sub-Saharan Africa. The Organisation for Economic Co-operation and Development (2002) defines development finance officially as funding “used in measuring the inflow of resources to recipient countries: including (a) bilateral official development assistance (ODA), (b) grants and concessional and non-concessional development lending by multilateral financial institutions, and (c) Other Official Flows for development purposes (including refinancing Loans) which have too low a Grant Element to qualify as ODA”. The role of development finance and economic growth The...
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...this technology is going to widen the economic development gap between rich and poor countries? Is there a way that developing countries can use such technologies as a tool for economic development? Justify and illustrate your arguments by referring to appropriate case study examples. Table of Content 1 Introduction 2 2. Present Uses of the Internet 3 3 The Use of Internet in Developed Countries 4 4 The Use of Internet in Developing Countries 6 5 Internet reduces the Economic gap between Developing and Developed Countries 7 5.1 Case Study Analysis – Case of Nigeria 7 6 Internet as a tool for Economic Development in Developing Countries 8 6.1 Internet and e-commerce produce greater Economic benefits to the firms 9 7 Conclusion 10 8 References 10 1 Introduction Globalisation of business, trade and economy has transformed the world into a single society of similar perceptions, where the information is accessible by any person from any corner of the world. Use of new communication technologies like internet has incremented the pace of globalisation processes in various dimensions (Anakwe, et al., 2007). The internet has rationalized the business processes facilitating the notion of the e-economy. Companies have recognised the requirement of joining in the e-economy revolution, which is seen vital for them to survive in a highly vibrant and competitive global market environment (Financial Executive...
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...poverty on a global scale, The Idealist, a few nuances drew my attention. Firstly, Sachs’ deep belief that extreme poverty could be completely eradicated, and his unrelenting motivation to see it through; and secondly, his point-blank illustration that with enough money, anything is possible. He unwaveringly appeals for copious amounts of money that seem unreasonable, but are in fact a trivial amount when considering the wealth within developed nations; he successfully draws our attention to the solution of “our” wealth in addition to the problem of “their” poverty. His suggestions for economic development hold the assumption that developing nations cannot be left to see their own economic result; therefore, charity-centric economic models are his ideal solution to global poverty. Though Sachs’ work successfully illustrates an innate economic interconnectedness between the developed and developing world in regards to the relationship between international organizations, government agencies, donors, and domestic citizens, he does not completely explore the implications of this interconnectedness on the success or failure of foreign development aid. Munk illustrates that Sachs does not adequately prepare for inherent problems such as failing legal devices, political incoherence, and inefficient capital accumulation. Further, Sachs does not sufficiently address the prevailing cultural, social and educational disparities and how this affects the implementation of Western economic models...
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...Czinkota, M. R. (2011). The Future of Global Business : A Reader. New York: Routledge In this book the discussion surrounds around new approaches and role to international marketing. The author goes into good detail on the competition from emerging markets, marketing mix, global sourcing, and supply chain management. The author makes the reader look deeper into how globalization has brought down trade and investment barriers and has basically connected the world into very far countries by the use of global supply chains and emerging markets. The author has also given a very basic look into how emerging market from developed economies such as Brazil, China, India, and Russia are emerging very quickly from fast economic growth. An experienced author in the field of Global marketing the book provides a very basic setting for research into global marketing. The author touches on main points and does not provide solid information for research into competition, marketing mix, global sourcing or supply chain management. Browne, S., Laird, S., & International Trade Center, (. (U.S.). (2011). The International Trade Centre : Export Impact for Good. New York, NY: Routledge. In this book the author attempts to discuss trade, growth, and competitive advantages and the value chain. The author emphasis that exports growth can be a major component of economic progress. The author tries to get the reader to understand the different stages of development by using illustrations of resources...
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...REVIEW / March 2004 10.1177/1078087403261256 URBAN AFFAIRS ARTICLE CULTURAL-PRODUCTS INDUSTRIES AND URBAN ECONOMIC DEVELOPMENT Prospects for Growth and Market Contestation in Global Context University of California, Los Angeles ALLEN J. SCOTT The article begins with a brief definition of the cultural economy. A first generation of local economic development policy approaches based on place marketing and associated initiatives is described. The possibilities of a more powerful second-generation approach are then sketched out with special emphasis on localized complexes of cultural-products industries. An extensive review and classification of these complexes is laid out, and their inward and outward relations to global markets are considered. On this basis, a critical discussion of local economic policy options focused on cultural-products industries is offered. Contrasting examples of development initiatives in major global cities, in selected old manufacturing towns, and in the Multimedia Super Corridor of Malaysia are briefly presented. It is suggested that the growth and spread of localized production agglomerations based on cultural-products industries are leading not to cultural uniformity but to greatly increased diversity at the global level. Keywords: agglomeration; cultural economy; globalization; industrial districts; local economic development; place marketing Over the past decade or so, the industrial profile of many countries has tilted perceptibly...
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...More information from http://www.researchandmarkets.com/reports/2882836/ The Globalization and Development Reader. Perspectives on Development and Global Change. 2nd Edition Description: This revised and updated second edition of The Globalization and Development Reader builds on the considerable success of a first edition that has been used around the world. It combines selected readings and editorial material to provide a coherent text with global coverage, reflecting new theoretical and empirical developments. It provides original texts, including classics in the field and others at the cutting edge, which have been carefully edited for the non–technical reader, and offers concise definitions of key terms and concepts, requiring no prior knowledge about globalization and development or related theories. The second edition expands the collection of classic texts and, at the same time, provides the most important and readable articles and book selections on recent developments. More than half of the readings are new for the second edition, with a higher degree of editing for a student readership, and with increased coverage of China and India supporting its genuinely global coverage. New pieces help to capture the implications for developing countries of the recent Great Recession of the global North. There is more on global inequality and uneven economic development, as well as on women, international migration, the role of cities, agriculture and the environment...
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...Miranda Levy May 2013 BUS-110-OM1 Economic Development Today, economic development is about establishing profitability and a rising standard of living. The core drivers of prosperity is productivity growth, with innovation being the key driver of productivity. The fundamental focus of economic development should be in supporting innovation, increasing the success of American businesses, and guaranteeing American workers have the skills needed in continuing to be the most productive workforce in the world. By encouraging new ideas, technologies, and methods that lead to better jobs with higher wages, innovation will drive the growth of American industry, and, consequently, a much higher standard of living. Currently the prominent reality of economic development is that we now operate in a worldwide economy, meaning that American businesses must collaborate with countries besides our own (mrsc.org) The National Small Business Association (NSBA) is recognized for its bleak reporting, and recently revealed its outlook for 2013's economic climate. The presence of economic unpredictability was referred to as being the most notable challenge facing small business owners, including issues such as the eurozone crisis (one of the largest economic regions in the world) and decreasing growth in nations such as Spain. Although it may seem as though the economic forecast for 2013 is unpromising, there are some considerable reason for optimism. The United States economy, which...
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...contemporary economic environment, has resulted in significant changes to individual nations in terms of economic development strategies undertaken by national governments. The term globalization refers to the integration of local and international economies into a globally unified political economic and cultural order, and is not a singular phenomenon, but a term to describe the forces that transform an economy into one characterized by the embracement of the freer movement of trade, investment, labor and capital. The drive for globalization has resulted in greater economic growth globally, through the opening up of barriers to international trade, yet this increase in world output is often associated with detrimental effects in relation to the stability of a national economy, being susceptible to the ups and downs of the international business cycle and also both positive and negative effects on the standards of living or quality of life with in a nation. It is often difficult to categories an economy as being globalized, yet there are several key indicator that suggest economic management decisions undertaken by the govt have come as a result of globalization. The main evidence to suggest the globalization of nations has been the growth in global markets, changes in global consumption patterns, the establishment of intergovernmental agreements as well as the rise of transnational corporations. Globalization has been essentially driven by the breaking down of economic barriers...
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... the world is just far from being flat. The world is in a huge imbalance. Due to the comparative advantage of labor between developing countries and developed countries, the world capital is flowing from the US and European countries which have high labor cost to emerging economies like China and India where there are abundant supply of cheap and skilled labor. On one hand, China and the other emerging economies are accelerating their integration into the interdependence world factory. Gaps in living standards, wage and technology are quickly shrinking. The benefits of economic boom are spreading from those advanced economies to emerging economies. On the other hand, this economic model results in huge trade imbalance and further solidifies the dominance of the developed economies on the upper end of the value chain. To sustain the high annual growth rate, China has to rely on its export-oriented economic model, which caused huge trade surplus and over-supply of currency. Such...
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