The Effects of Bad Institutions on Economic Growth Investigating the Case of Latin American and Sub-Saharan Economies Prior to the World Economic Downturn

2016 ◽  
Author(s):  
Sanjeev K. Sobhee
Keyword(s):  
Economic Growth ◽  
Latin American ◽  
Economic Downturn ◽  
The World ◽  
World Economic ◽  
Sub Saharan

The world and Russia: Inflation is minimal, economic growth is slowing, risks are rising

2019 ◽  
pp. 5-23 ◽  
Author(s):  
Mikhail V. Ershov ◽  
Anna S. Tanasova
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
World Economy ◽  
Domestic Demand ◽  
New Combination ◽  
Russian Economy ◽  
The World ◽  
World Economic ◽  
Money Creation ◽  
Main Factors

Russian economy has reached the low level of inflation, but economic growth has not accelerated. Moreover, according to official forecasts, in the following years it will still be low. The article concludes that domestic demand, which is one of the main factors of growth, is significantly constrained by monetary, budgetary and fiscal spheres. The situation in the Russian economy is still hampered by the decline of the world economic growth. The prospects of financial markets are highly uncertain. This increases the possibility of crisis in the world. Leading countries widely use non-traditional measures to support their economies in the similar environment. In the world economy as well as in Russia a principally new combination of factors has emerged, which create specific features of economic growth. It requires special set of measures to stimulate such growth. The article proves that Russian regulators have large unused potential to stimulate growth. It includes monetization, long-money creation, budget and tax stimuli. It is important that the instruments, which will be used, should be based on domestic mechanisms. This will strengthen financial basis of the economy and may encourage economic growth. Some specific suggestions as to their use are made.

The Spread of Market Values

The 1970s ◽  
2011 ◽  
Author(s):  
Thomas Borstelmann
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Standard Of Living ◽  
Human History ◽  
Market Values ◽  
The Poor ◽  
The World ◽  
The Future ◽  
World Economic

This chapter tracks the economy of the 1970s as it began to decline after the prosperity of previous decades. Economic growth had defined human history for two hundred years, reaching a peak in the generation after 1945 when world economic growth averaged an extraordinary 5–7 percent per year. Americans rode that growth to a higher standard of living than anyone else. But in the 1970s it all seemed to be flowing away. Unemployment, oil shortages, a plunging stock market, recession, and, above all, inflation were apparently ending these golden years of unparalleled prosperity. Inflation hit everyone, and it hit the poor hardest of all. Persistent inflation undercut dreams and hopes for the future. The economic trauma of the 1970s threatened to destabilize Americans' understanding of how the world worked.

Interactive effects of human capital in finance–economic growth nexus in Sub-Saharan Africa

2018 ◽  
Vol 45 (6) ◽  
pp. 1192-1210 ◽  
Author(s):  
Muazu Ibrahim
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Interactive Effect ◽  
Financial Sector ◽  
Content Type ◽  
Long Run ◽  
The World ◽  
Sub Saharan ◽  
Ssa Countries

Purpose The purpose of this paper is to examine the interactive effect of human capital in financial development–economic growth nexus. Relative to the quantity-based measure of enrolment rates, the main aim was to determine how quality of human capital proxied by pupil–teacher ratio influences the relationship between domestic financial sector development and overall economic growth. Design/methodology/approach Data are obtained from the World Development Indicators of the World Bank for 29 sub-Saharan African (SSA) countries over the period 1980–2014. The analyses were conducted using the system generalised method of moments within the endogenous growth framework while controlling for country-specific and time effects. The author also follows Papke and Wooldridge procedure in examining the long-run estimates of the variables of interest. Findings The key finding is that, while both human capital and financial development unconditionally promotes growth in both the short and long run, results from the interactive terms suggest that, irrespective of the measure of finance, financial sector development largely spurs growth on the back of quality human capital. This finding is also confirmed by the marginal and net effects where the interactive effect of pupil–teacher ratio and indicators of finance are consistently huge relative to the enrolment. Statistically, the results are robust to model specification. Practical implications While it is laudable for SSA countries to increase access to education, it is equally more crucial to increase the supply of teachers at the same time improving on the limited teaching and learning materials. Indeed, there are efforts to develop rather low levels of the financial sector owing to its unconditional growth effects. Beyond the direct benefit of finance, however, higher growth effect of finance is conditioned on the quality level of human capital. The outcome of this study should therefore reignite the recognition of the complementarity role of human capital and finance in economic growth process. Originality/value The study makes significant contributions to existing finance–growth literature in so many ways: first, the auhor extend the literature by empirically examining how different measures of human capital shape the finance–economic growth nexus. Through this the author is able to bring a different perspective in the literature highlighting the role of countries’ human capital stock in mediating the impact of financial deepening on economic growth. Second, the author makes a more systematic attempt to evaluate the relative importance of finance and human capital in growth process while controlling for several ancillary variables.

scholarly journals Steps Towards Uruguay’s Next Political and Economic Insertion into the World

2011 ◽  
Vol 2 (1) ◽  
pp. 68-81
Author(s):  
Joaquin Bardallo Bandera
Keyword(s):  
Economic Growth ◽  
Social Development ◽  
Latin American ◽  
Social Programs ◽  
Political Role ◽  
Latin American Region ◽  
The World ◽  
Democratic Stability ◽  
Democratic Country

This paper examines the democratic stability, political role of the current president, economic growth and social programs that are a part and puzzle of the country, Uruguay. This paper presents an overview of how Uruguay today is ready to take the next step in economic and social development, and to insert itself as a stable democratic country in both the Latin American region and the world.

scholarly journals PELATIHAN STRATEGI MENCARI DAN MELAMAR PEKERJAAN DI ERA PANDEMI COVID-19 KEPADA ALUMNI PERGURUAN TINGGI

Dharma LPPM ◽  
2021 ◽  
Vol 2 (2) ◽  
Author(s):  
Saiful Rahman Yuniarto ◽  
Gunawan Eko Nurtjahjono ◽  
Raden Rustam Hidayat ◽  
Edy Yulianto ◽  
Muhammad Faisal Riza
Keyword(s):  
Economic Growth ◽  
Community Service ◽  
Fundamental Problem ◽  
Job Seekers ◽  
Population Growth Rates ◽  
Initial Stage ◽  
The World ◽  
Service Activity ◽  
High Population Growth ◽  
World Economic

The high unemployment rate is a fundamental problem in employment in our country, where the new workforce that is added is far greater than the increase in employment. Unemployment is a problem for countries with high population growth rates, and unemployment can also affect the level of the economy. At the beginning of 2020, world economic growth experienced a decline due to the coronavirus disease outbreak, this coronavirus (covid-19) had an impact on economic growth in the form of a decline in the level of the world economy, including Indonesia. Seeing conditions like this, special attention is needed for alumni to prepare students for the world of work. This community service is carried out in the form of training on strategies for finding and applying for jobs, the problem solving framework provided is by providing training so that it can increase knowledge and insight to job seekers college alumni about srategies for finding and applying for jobs.The purpose of this community service activity is to provide training to college alumni so that they have the readiness to find and apply for jobs. This community service activity is carried out virtually online online in the form of training and guidance. The target is college alumni who will definitely be involved in the activity of finding and applying for jobs, at the initial stage the presenter will deliver a theoretical presentation accompanied by realistic examples. The results of the implementation of community service by providing the training are expected that college alumni as prospective job seekers already have the knowledge, insight and readiness in finding and applying for jobs, then to provide knowledge and insight about strategies for finding and applying for these jobs, as well as the factors that must be considered.The high unemployment rate is a fundamental problem in employment in our country, where the new workforce that is added is far greater than the increase in employment. Unemployment is a problem for countries with high population growth rates, and unemployment can also affect the level of the economy. At the beginning of 2020, world economic growth experienced a decline due to the coronavirus disease outbreak, this coronavirus (covid-19) had an impact on economic growth in the form of a decline in the level of the world economy, including Indonesia. Seeing conditions like this, special attention is needed for alumni to prepare students for the world of work. This community service is carried out in the form of training on strategies for finding and applying for jobs, the problem solving framework provided is by providing training so that it can increase knowledge and insight to job seekers college alumni about srategies for finding and applying for jobs.The purpose of this community service activity is to provide training to college alumni so that they have the readiness to find and apply for jobs.This community service activity is carried out virtually online online in the form of training and guidance. The target is college alumni who will definitely be involved in the activity of finding and applying for jobs, at the initial stage the presenter will deliver a theoretical presentation accompanied by realistic examples. The results of the implementation of community service by providing the training are expected that college alumni as prospective job seekers already have the knowledge, insight and readiness in finding and applying for jobs, then to provide knowledge and insight about strategies for finding and applying for these jobs, as well as the factors that must be considered.

scholarly journals Factors of Economic Growth in Sub-Saharan Africa: Current Trends

2018 ◽  
Vol 11 (5) ◽  
pp. 38-54 ◽  
Author(s):  
G. V. Podbiralina ◽  
J. C. Asiagba
Keyword(s):  
Economic Growth ◽  
New Technologies ◽  
Negative Impact ◽  
Sub Saharan Africa ◽  
Added Value ◽  
African Countries ◽  
The World ◽  
Innovative Products ◽  
The Status ◽  
Sub Saharan

Despite the fact that the African continent is positioned as one of the fastest growing economies in the world (especially the sub-region of sub-Saharan Africa), the lack of industrialization and the use of modern technologies continues to be a brake on the development of the economies of African countries, which largely depend on agriculture and exports of raw goods that have a relatively low added value and account for more than 80% of their exports. This has a negative impact not only on the economic development of the region, but also on per capita incomes of the population. This article assesses the existing economic potential of African countries, which is one of the most important factors for overcoming economic backwardness, achieving the goals of sustainable development, raising the standard of living of the population and changing the status of SSA countries in the world economic system. It is shown that it is important for African states to attract new technologies and innovative products to the industrial and agricultural sectors, since knowledge and innovations are the locomotive of economic growth and are one of the most important factors in the reconstruction and modernization of their economies.

scholarly journals Nossa América interpela a Igreja

2019 ◽  
Vol 67 (266) ◽  
pp. 360
Author(s):  
Pedro Assis Ribeiro de Oliveira
Keyword(s):  
Human Rights ◽  
Latin America ◽  
Political Participation ◽  
Economic System ◽  
Latin American ◽  
Catholic Church ◽  
Political Climate ◽  
The World ◽  
World Economic ◽  
America Latina

A importância sociológica da religião não se mede pelo número de seus adeptos, mas por sua capacidade de formar o “clima moral” da sociedade. A América Latina, constituída para ser economicamente explorada pelas metrópoles e ainda na periferia do sistema econômico mundial, vive hoje uma onda de participação política dos setores populares em busca de democracia e de uma outra AL possível. Esses sinais dos tempos interpelam a Igreja católica, onde a pastoral comprometida com os Direitos Humanos e com as lutas populares tem sido contestada por setores conservadores. O V CELAM reafirmará a participação da Igreja na construção desse novo “clima político”, ou se preocupará apenas em aumentar o número de seus membros?Abstract: The sociological significance of religion is not measured by the number of its followers but by its ability to produce a “moral climate” in society. Latin America, still on the periphery of the world economic system and constituted to be economically exploited by the metropolises is currently experiencing a wave of political participation on the part of the most popular sectors of society in search of real democracy and of other possibilities for Latin America. These signsofthetimes are challenging the Catholic Church where the pastoral committed to the popular struggle and to Human Rights is being contested by the conservative sectors. Will the 5th Latin American Episcopal Conference (CELAM) reaffirm the Church’s participation in the construction of this new “political climate” or will it only be concerned with expanding its membership?

scholarly journals COVID-19 as a Global Crisis in the New Socio-Economic Reality

2020 ◽  
Vol 10 (513) ◽  
pp. 29-35
Author(s):  
M. I. Chepeliuk ◽  
Keyword(s):  
Economic Growth ◽  
East Asia ◽  
Latin American ◽  
Economic Activity ◽  
Commodity Prices ◽  
Economic Consequences ◽  
Pacific Region ◽  
Negative Consequences ◽  
The Pacific ◽  
The World

The COVID-19 pandemic has become a challenge for the global community and has led to a sharp downturn in the economies of many countries around the world. In January 2020, the IMF said that the world is heading towards a new Great Depression, as there is a trend similar to the situation of the 1920s. Hence, according to forecasts, the rate of economic growth in East Asia and the Pacific region by the end of 2020 will decrease to 0.5% and will reach the lowest level since 1967, being a reflection of the shocks associated with the pandemic. In China, extremely restrictive measures have led to an almost complete halt in business activity in some sectors and regions. China’s economic growth is expected to slow to 1% in 2020. Economic activity in the rest of East Asia and the Pacific region is projected to decline by 1.2% in 2020 and will recover to 5.4% in 2021. The economic consequences of the COVID-19 pandemic have had a detrimental impact on the countries of Europe and Central Asia, with the overall recession to 4.7% as forecasted for 2020. In the Middle East and North Africa, a 4.2% decline in economic activity is forecasted, because of the development of the pandemic and the collapsed oil market. In South Asia, as a result of measures to mitigate the effects of pandemics and collapse of global demand, have sharply fallen the volumes of industry, services and trade activities. The effects of the pandemic and the drastic fall in global commodity prices was a crushing blow for Latin American and Caribbean countries. A sharp slowdown in the economies of U.S. and China has disrupted supply chains to Mexico and Brazil and caused a stark drop in exports from Chile and Peru. The downturn in tourism has also had negative consequences. Such statistics confirm the opinion of many leading scholars in the world that the result of the COVID-19 pandemic will be a decrease in the level of hyperglobization of the world economy. In addition, a move away from U.S.-oriented globalization and a shift toward China-oriented globalization will also be likely.

scholarly journals The Role of Entrepreneurship Activity in Economic Development

2021 ◽  
Author(s):  
Rashmi Jaymin Sanchaniya ◽  
◽  
Ineta Geipele ◽  
Keyword(s):  
Economic Growth ◽  
World Economic Forum ◽  
Middle Income ◽  
Economic Progress ◽  
The World Bank ◽  
The World ◽  
World Economic ◽  
General Expectation ◽  
Different Levels

The paper presents a summary of the literature on the significance and importance of entrepreneurship to economic growth and development. Entrepreneurship has been shown to have been seen to lead to an overall optimistic development in many economic data. There is a general expectation that this inquiry would address the question of whether there is a correlation between the entrepreneurial enterprise and economic growth. In countries with various economic groups, different citizens are classed due to how much wealth they have. The data used in this paper were extracted from the World Bank, the World Entrepreneurship Monitor (WEM) over the last five years, and the World Economic Forum has a Database of Worldwide businesses. However, in low-middle- and middle-income nations, growth-oriented entrepreneurship is associated with economic progress. Analysis of various countries and different levels of economic growth, so it can be claimed that entrepreneurship serves a special position.

scholarly journals The efficiency of public expenditure and economic growth in the countries of the Western Balkans

2021 ◽  
Vol 16 (1) ◽  
pp. 81-93
Author(s):  
Ljiljana Prole ◽  
Dragana Petković
Keyword(s):  
Economic Growth ◽  
Public Expenditure ◽  
World Economic Forum ◽  
Western Balkans ◽  
Main Research ◽  
The World Bank ◽  
The World ◽  
World Economic ◽  
The Relationship ◽  
The International Monetary Fund

The countries of the Western Balkans are facing a number of challenges. One of the most acute ones, certainly, is improving the efficiency of public expenditure. Having this in mind, the main research objective of the paper is to present the interdependence between public expenditure and economic growth in the Western Balkans. In addition, the analysis is focused on the efficiency of public expenditure in the group of the above-stated countries, as well as the relationship between the size of public expenditure and its efficiency in these countries. Data from the International Monetary Fund, the World Bank and the World Economic Forum were used for the analysis. The results reveal that this interdependence in the countries of the Western Balkans, in addition to different intensity, has a different direction.

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