MGCR 382 Lecture Notes - Economic Growth, World Bank High-Income Economy, Substitution Model
17 Jun 2013
School
Department
Course
Professor
Document Summary
Market or mixed economies (developed commercial infrastructure) Lowest gdp and income per capita, consumers have low discretionary incomes, limited industrialization and stagnant economies. Combination of low incomes and high birth rates tend to enforce poverty. Short life expectancy, high infant mortality, significant malnutrition, poor educational; systems and illiteracy. Government debt levels approach or exceed annual gdp: its government discourages new business. Improving living standards, growing middle class, evolving toward developed country status, importance in the world economy increasing, strong annual average gdp growth rates. P. 252 exhibit 3 / p. 253 exhibit 4. Four factors that make emerging markets attractive (repeating text) Six challenges of doing business in emerging markets (repeating text) Had high rates of economic growth and industrialization all four tigers have become emerging markets, and high income economies. But attention has shifted to other asian economies which are now experiencing faster economic growth. Instead they undertook the export driven model alike japan.
