...The Impacts of Economic Growth Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. There are many positives and negatives with economic growth. Economic growth improves standard of living through sustained GDP growth, it improves tax revenues and provides the government with more money to spend on healthcare, education etc. Growth boosts business profits, a stronger economy increases consumer confidence therefore allowing people to purchase luxuries and once again improve their standard of living. Economic Growth will also increase employment, as growth increases as do business profits, therefore companies have more available finances to be able to pay wages and therefore levels of employment increase. Economic Growth can help protect the environment, as business profits increase, companies have more finance and can therefore invest in carbon investment, innovation and research and development to reduce the amount of harmful substances released during the production stages, therefore reducing their effect on the environment. On the other hand, economic growth poses as a threat of inflation risk. Increase in demand may be more than available supply and will therefore cause prices to rise, so consumer confidence decreases along with standard of living and business profits. Economic growth can have a negative...
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...of Arts & Commerce Vitthalwadi-East Email-Id :- kadam.a333@gmail.com Contact No:- 9029787363 ICT AND ITS IMPACT ON ECONOMIC GROWTH Exploring the growth potential of ICT ------------------------------------------------- Abstract: ------------------------------------------------- Past decade saw the growth of service sector and marveled on the growing potential of the IT industry. This became more relevant if we see the exponential growth of Internet along with T.V and Radio. So Information Technology (IT) along with Communication Technology (C.T) converges to give us a unique combination of ICT-Information and Communication Technology. This paper attempts to understand the contribution of ICT in the growth story of India. It analyzes the contribution towards growth with the help of four major components of ICT: Internet, Telecom, IT sector, T.V and Radio. The paper presents data and statistics providing sample evidence of the ever growing contributions of ICT towards income generation and employment for the country and thus having a major economical impact. Finally the paper concludes with the fact that it is high time to acknowledge the relevance of ICT within the service sector and growth cannot be looked exclusive of it. Information and Communication Technology:- Number of different studies find that there is a positive impact of the spread of ICT on national output (Röller and Waverman 2001, Sridhar and Sridhar 2004).According to a recent World...
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...study The political, economic and social development of any country depends on the amount of revenue generated for the provision of infrastructure in that given country. However, one means of generating the amount of revenue for providing the needed infrastructure is through a well structured tax system (ogbona and ebimobewei, 2012). The vital role that taxation play in an economy cannot be overemphasized. Tax is a compulsory levy imposed by government or its agent on her citizens in order to raise revenue for the funding of economic activities. Nkoro and worlu, 2012 defined Tax as a fee charged or levied by a government on a product, income, or activity. If it is levied directly on personal or corporate income, it is called a direct tax. If it is levied on the price of a good or service, then it is called an indirect tax. The main reason for taxation is to finance government expenditure and to redistribute wealth which translates to financing development of the country (Musgrave and Musgrave, 2004, Bhartia, 2009). Apart from revenue generation prowess of tax, it is also used by the government to discourage consumption of certain goods. Taxation is a fiscal tool that most government uses to regulate both the micro and macro aspect of an economy. Generally, The importance of tax lies in its ability to generate revenue for the government, influence the consumption pattern of the people and also regulate the economy through its influence on vital aggregate economic variables such as...
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...Introduction * Objectives of the study * Salient features of Bangladesh’s current tax system * Growth trends and revenue structure of Bangladesh * Contribution of direct and indirect taxes to revenue * Reasons for introducing vat in Bangladesh * Ratio of VAT to Revenue & VAT to Tax * Revenue Structure during Pre and Post VAT Regime * VAT Rates in Selected Countries * VAT Productivity in Selected Countries * Some Important Features of VAT in Bangladesh * Tax Base for VAT * Arguments For VAT * Arguments against VAT * Reforms in VAT: Current Initiatives Introduction: Value Added Tax (VAT) is imposed on value added by a manufacturer of a firm or distributors. Value added tax means a tax on the amount by which the value of an article has been increased at each stage of production. It is a multistage consumption tax imposed on goods and services, which is collected at every stage of production and distribution rather than at the retail stage alone. Objectives of the Study: We can gain knowledge about the tax system (especially VAT) of Bangladesh by studying this topic. As following aspects of tax we can learn from this study: 1. To present an overview of tax system of Bangladesh. 2. To evaluate Govt. Performance in collecting revenue. 3. To identify the effect of the tax system (especially VAT) to economic development of Bangladesh. 4. To identify the problems and weaknesses of collecting revenue through...
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...INTERNATIONAL ECONOMICS THEMES AND ISSUES MMN222154-13- AB THE IMPACT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN NIGERIA BY AZUMONYE M. CHUKWUEMEKE S1344407 INTRODUCTION Over the years, the debate on the role of foreign direct investment (FDI) as a factor that induces economic growth has received the attention of policy makers, researchers and international organizations (Tumala et al, 2011). There is no denying that most countries strive to attract foreign direct investment (FD1) because of its putative advantages as a tool of economic development. Therefore, this essay seeks to ascertain the extent at which growth in foreign direct investments (FDIs) influences economic growth in Nigeria in the long-run and investigated the empirical relationship between FDI and privatization. Nigeria, after independence began with an economy that was mostly driven by the public sector. According to Tumala et al (2007), Nigerian Enterprises Promotion Decree (NEPD) of 1972 imposed several restrictions on FDI entry, thereby earning the tag „the indigenization policy‟. It reserved 22 business activities exclusively for Nigerians, including advertising, gaming, electronics manufacturing, basic manufacturing, road transport, bus and taxi services, the media and retailing and personal services. Foreign investment was permitted up to 60 per cent ownership and provided that the proposed enterprise had, based on 1972 data, share capital of N200, 000 ($300,000) or turnover...
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...Impacts of Globalisation Globalisation, an important characteristic within the contemporary economic environment, is a term to describe the forces that transform an economy into one characterised by the embracement of the freer movement of trade, investment, labour and capital. The drive for globalisation has resulted in greater economic growth globally with an increased access to goods and services provided around the world. However, this increase in world output is often associated with detrimental effects in relation to the stability of a national economy being extremely susceptible to the ups and downs of the international business cycle, and also both positive and negative effects on the standards of living. It is often difficult to categorize an economy as being globalised, yet there are several key indicators that suggest economic management decisions undertaken by government’s have, resulted in globalisation. The main evidence to suggest the globalisation of nations has been the growth in global markets, changes in global consumption and resource use patterns, and the establishment of international agreements as well as the rise transnational corporations. Globalisation has been essentially driven by the breaking down of economic barriers between nations over recent decades that have resulted in greater worldwide economic growth. This has been spurred on by the trend towards the deregulation of national economies, as well as reforms to encourage greater competitiveness...
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...Anthony Mitchell Hessler 5/8/12 The Social-Economic, Political, and Environmental Impacts of Unregulated Population Growth Ladies and gentlemen of the Senate Select Committee on Intelligence, mankind is well on its way to answering a seldom asked yet vitally important question pertaining to its sustainability. "How many people can inhabit this planet sustainably?" This is a question that should have been looked into decades ago, yet the answer is still unclear. With no regards to what the answer may be mankind persists in rapidly escalating its population as if the worlds sustainable population capacity is limitless. With the numerous problems that currently plague mankind, overpopulation is perhaps the most threatening and overlooked issue. If current population trends continue there will undoubtedly be terrible repercussion to face in the future. Problems arising from overpopulation will eventually have a grim impact on the socio-economic systems and political systems of the world along with the environment as a whole, the worst of which could lead to the annihilation of the human race. This is why population growth should be a global concern that should be recognized, examined, and dealt with immediately. To understand the impacts of overpopulation one must first understand the concept of overpopulation. Overpopulation is a state wherein the population density of an area has grown large enough to exceed what would be the natural sustainable inhabitant capacity...
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...The impact of financial liberalization reform on economic growth: an empirical survey on China Introduction: In the past few decades, financial liberalization would be a main driving force and trend on countries’ financial reform. It aims to eliminate restrictions on financial markets and financial institutions, both domestically and internationally (Financial Liberalization). Thus, as a benefit of financial liberalization, a surge of competition and innovation was awakened in the US and rapid spread to other advanced economies’ financial market between 1970s and 1980s. As a result, banks had become bigger and financial intermediation was cheaper (Anon. 2007). However, an excessive freedom could encourage financial institutions to take unnecessary risks on lending business which would lead to financial crisis. The current great economic recession was caused by a new financial instrument crisis, subprime crisis which started from developed economies which had high level of financial liberalization. Therefore, to some extent, financial liberalization is risky in the process of financial reform. China had conducted its financial reform for more than 30 years. It had benefited from financial liberalization to accelerate capital accumulation. Now, it has the world’s most valuable banks and has the largest foreign exchange reserve. But, in general, Huang et al. (2010) stated that China’s financial reform is still focus long on quantitative growth but short on qualitative growth in...
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...As I have stated before below is our protocols for transacting our business on the Euroclear Screen with instruments that are Beneficially owned with a Registered/Titled Owner:- Protocols:- 1) The Securities can be Corporately Invoiced with Copy of Euroclear Title Page 2) The Securities are screen-able on EUROCLEAR 3) The Securities are on balance sheet (Cashed Backed) payable with the full faith and credit of the issuing bank. 4) The Securities are Beneficially Owned /Titled (Registered Owner) 5) The Securities are issued by one or more acceptable Western European Money Centre Banks rated A/ AA or better by Standard and Poors, Normal Exclusions. 6) The Securities show no price on the screen (insert – Private Placement) SAME DAY SETTLEMENT FOR ALL INVOICING AFTER SCREEN VALIDATION. Our Clearing banks are Rothschild, Zurich, Credit Suisse Zurich, UBS AG, Zurich, Deutsche Bank,London, Tokyo Mitsubishi, London., HSBC London & HK, Goldman Sachs, London, and Kleinwort Benson London. PROCEDURE FOR SCREEN CLOSING: CLOSING STEPS ON SCREEN……. WINDOW 10 Closure where Called Funds are confirmed against the verifiable Corporate Invoice Below the Window-12 Steps Procedure which should be followed diligently through DTC or EUROCLEAR SCREENS. Some Bank terminals utilize systems that allow entering the CUSIP Number first and other ones allow to enter the Access Code first. In the procedure below, the Access Code and the CUSIP Number may be interchanged...
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...Impact of Female Labor Force Participation in Economic Growth in USA and Turkey between 1990 and 2010 Name Institution Course Tutor Date Table of Contents Introduction 3 Background of the Topic 4 Research Problem 4 Research Questions 5 Research Aims and Objectives 5 Literature Review 6 The Trend in the Female Labor Force Participation in United States and Turkey between 1990 and 2010 6 The Economic Situations in America and Ukraine 7 The Relationship between Female Labor Force Participation and Economic Growth 9 Research Methodology 10 Research Design 11 Research Philosophy 11 Research Approach 11 Selecting Respondents 12 Research Ethics 12 Data Collection Instruments 13 Data Analysis 13 References 14 Introduction Labor force growth is essential because it drives the economic prosperity of a given country. The universal understanding of the labor force encompasses working people as well as those looking for employment opportunities. Most scholars portray it as a dynamic concept that is a product of the political, social and economic factors within a given country. The most predominant notion today is that changes in the labor force participation, as well as population changes, has culminated in a labor force that is more diversified. In specific, relatively more women are represented in the labor force compared to the previous centuries. The diversity in the workforce shaped the economies of developed countries such as America...
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...INTRO – -world econ growth definition -Firstly it can benefit the uk economy -this in turn benefits the individual within the UK Point 1 -Increased trading oppurtunities for uk companies, potentially leading to a more balanced UK -Due to the UK have a large export market for innovation and ideas as new country’s develop this market may increase as more firms may want to use their ideas, however this may also produce a much fiercer competition and other country’s will begin to develop their own ideas and their export market could decrease. China is becoming much more innovative and can use its own cheap manufacturing base giving them a large competitive advantage which the UK may not be able to exploit as easily if the economy continues to grow -less developed countries which often supply will gain more power over buyer so cheap production may be less available pushing up uk general prices causing inflation, Chinas cheap manufacturing may become more expensive Point 2 -Individual -Increased exports as a result of more trading opportunities may increase employment opportunities for individuals as more production is needed to supply for other countries -philips curve, increased employment may lead to inflation making UK prices more expensive, however inflation does also trigger a devaluation of the pound boosting exports more which can boost the economy and make the UK richer and more competitive in the export market which could increase the individuals standard...
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...A sustained period of low productivity growth is a detrimental effect to an economy especially in the long run however there may be some short run benefits. Productivity refers to the effectiveness of productiveness and it is measured by rate of output per worker. In the UK economy, the government wishes to achieve full employment, stable prices, a balance of trade where imports do not exceed exports and economic growth. Below, the economic cycle diagram shows that the UK economy is suffering from low productivity at point b where there is spare capacity in the economy. (economic cycle showing that low productivity occurs at point b) In Extract E it states that ‘British workers were 20% less productive than the average for the G7 countries and almost 40% less productive than the average worker in the US’. With the UK having low productivity it means that there will be higher unit costs, as costs will be passed on to consumers in higher prices, which will discourage demand and reduce the overall output. Furthermore, our price competitiveness and trade performance will decrease so businesses will not have competitive advantage in markets. In 2011, UK productivity was below 2007 at an index of 97 compared to 100 in 2007, showing negative productivity growth. (AD diagram shifting leftwards) The diagram above portrays how there will be a reduction in demand for the UK exports but more of a demand for imports which will further reduce aggregate demand shown by a leftward...
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...WEEK 5 ECONOMIC GROWTH To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-5-economic-growth/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 5 ECONOMIC GROWTH The government uses policies like student loans and free trade to influence the economy’s growth rate. In 600- 1200 words, identify at least four policies from the textbook that the government has created to impact economic growth and productivity. In your paper, please also evaluate whether each item has enhanced or diminished your quality of life, and make any appropriate recommendations that might improve the policies. ECN 400 WEEK 5 ECONOMIC GROWTH To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-5-economic-growth/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 5 ECONOMIC GROWTH The government uses policies like student loans and free trade to influence the economy’s growth rate. In 600- 1200 words, identify at least four policies from the textbook that the government has created to impact economic growth and productivity. In your paper, please also evaluate whether each item has enhanced or diminished your quality of life, and make any appropriate recommendations that might improve the policies. ECN 400 WEEK 5 ECONOMIC GROWTH To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-5-economic-growth/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 5 ECONOMIC GROWTH The...
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...THE EMPIRICAL ANALYSIS OF IMPACT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN NIGERIA BY OKUNLOLA TUNDE S. MATRIC NO: 139191 September 2011 Being research work submitted to Department of Economics, Faculty of Social Sciences, University of Ibadan, in partial fulfillment of the requirement for the award of Bachelor of Science (B.Sc) in Economics CERCTIFICATION I hereby certify that this work was carried out by OKUNLOLA TUNDE S. of Matric No 139191 in the Department of Economics, Faculty of Social Sciences, University of Ibadan. …………………………………. ……………………………… Date Dr. B. Fowowe Supervisor DEDICATION My sole dedication goes to God almighty whose mercy has never ceased in changing me despite all odds, whose boundless love and vast grace is bringing to pass my childhood dreams and fantasies. ACKNOWLEDGMENT My deepest gratitude goes to my parents who always, tirelessly and sacrificially support me, trust me, care for me and love me despite all my short comings and even when it so difficult. May the lord reward you abundantly. And also to my supervisor, Dr. B. Fowowe, I say thank...
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...inflation and growth has remained a controversial one in both theory and empirical findings. Over the past couple of years, a lot of economists have claimed that an increase in economic growth leads to an increase in inflation and that decreased growth reduces inflation. There are several theories to explain the nature and existence of the inflation-economic growth with the theories suggesting that variety of possible conclusions. These include: Classical, Keynesian, Neo-Keynesian, Monetarist, Neo-classical and Endogenous growth theories. Studies have shown that inflation and its variability have significant real costs to the economy with several of the studies indicating that a 10% inflation rate can cause up to 3% loss in the GNP thus many governments have adopted inflation targeting as a dominant economic policy framework. While all the studies agree with Bruno and Easterly conclusion that inflation threshold will occur somewhere below 20% they differ significantly on the specific threshold rates. Most of the studies reviewed conclude that there is indeed a significant negative relationship between inflation and economic growth at high inflation rates in the long run. However, while many sophisticated techniques have been applied in an attempt to explain the relationship between inflation and economic growth; many key questions still remain unresolved. Introduction: The objective of this paper is to study the relationship between inflation and economic growth. Inflation ...
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