Corruption, political instability, pollution and poor management are some of the reasons Nigeria has not been able to rise and gain the status it should have in the African continent. Macro-economic factors • Gross Domestic Product (GDP) A look at the real GDP growth of Nigeria shows that it has ranged between 6.4% and 7.8% from 2007-2013. It reached its peak of 7.8% in 2010 and is forecasted to be 6.4% in 2012 as compared to the world average of 2.2% and 3.9% for Sub-Saharan Africa. Economists
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8/9/13 [Economy Q] Why use GDP (nominal) instead of GDP (PPP) when comparing two nations? « Mrunal HOME ECONOMY MAY 30TH, 2012 2 COMMENTS [Economy Q] Why use GDP (nominal) instead of GDP (PPP) when comparing two nations? After the previous question regarding GDP (at purchasing power parity) between Japan and China, Tarun asked, i have a query why GDP (ppp) is not used often to measure worth of countries as it give real picture than using GDP (Nominal terms) Answer For example:
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1991 Indian economic crisis By 1985, India had started having balance of payments problems. By the end of 1990, it was in a serious economic crisis. The government was close to default, its central bank had refused new credit and foreign exchange reserves had been reduced to such a point that India could barely finance three weeks’ worth of imports which lead the Indian government to airlift national gold reserves as a pledge to the International Monetary Fund (IMF) in exchange for a loan to cover
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of world economic growth (increase in real GDP over time) and this has enabled it to make some progress in economic development (a broad measure of quality of life). Globalisation has affected every country around the world differently. Specifically, the Chinese economy averaged 10.1% economic growth between 2003 and 2009 as a result of globalisation, causing it to become the second largest economy in the world. China experienced its annual real GDP rising from 8% in 2003 to over 11% in 2007.
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Economics – Group 1 Learning Miscellany 1) ------------------------------------------------- Introduction Economics is not an exact science, as it has to factor-in human behaviour. It assumes that the market is logical or rational in its behaviour. We know that the actions of humans are not always rational, hence events like the economic crash in 2008. No matter how much history teaches us, we still sometimes take irrational actions. The principals explained in Greg Mankiw’s book “The Principles
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The Conflict Summary: In April of 2013, The Yemen Post published a story about an oil conflict rising between Saudi Arabia and Yemen. The Egyptian newspaper, al-Masry al-Yom, quoted in the story, refers to the conflict as the “Yemen - Saudi Arabia new Oil conflict” (Yemen Post) implying preexisting disputes between the two countries regarding the extraction of natural resources. Until 2012, Yemen's officials embraced its country's world-wide image as the poorest country in the Arabian Peninsula
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Is free trade good or bad for developing countries? Executive summary Free trade is an economic policy that not distinguishing against imports and exports from the jurisdictions. Both seller and buyer that from open economy trades freely without controlling by the local government with applying tariffs and quotas on the goods and services. This paper is to analyse the factors that influence free trade to the developing countries. Within the framework, the research paper shows that tariffs can improve
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Mauritius Mauritius s a small, multicultural island in the Indian Ocean, is an island nation off the southeast coast of the African continent in the southwest Indian Ocean Currency Main article: Mauritian rupee | | | 1.00 INR | = | 0.549153 MUR | Indian Rupee | ↔ | Mauritian Rupee | 1 INR = 0.549153 MUR | | 1 MUR = 1.82099 INR | The rupee (sign: ₨; ISO 4217 code: MUR) is the currency of Mauritius. Demographics – The population estimate (as of 1 July 2012) for the whole republic
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for these countries to integrate themselves in the world economy. Meanwhile they continued to grow rapidly in terms of population, a factor that they could later leverage when they would start to open up. Slowly even with relatively lower per capita GDP but a big enough population and favourable age structure their overall impact in world economy could no longer be ignored. In the meantime, Developed countries were at their peak. The way in which business would be done was changing world over. Spurred
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Globalization, an important characteristic within the 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
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