Economic Development In Belize: A Case Study

The western world’s, the US in particular, tendency for free market development and economic growth as a part of DSP has substantial effects on the environment due to various reasons. As the DSP considers the nature as abundantly available to pursue unlimited growth, various problems have resulted over time. The demand and supply theory that has been driving the markets for longtime makes industries to understand the desire of customers for comfort and produce goods accordingly (Smith, 2003). The social paradigm, in the form of exclusionist paradigm, has made people view

As a product of colonization, the limited industrial development in the colonized area is a global issue. Because the widening gap between the rich and the poor between developing and developed countries, is the root reason of most of the contradictions and conflicts between countries in the contemporary world. And different level of industrialization caused the widening gap. So we can say the limited industrial development caused by colonialism is a real issue behind many current contradictions and conflicts. In order to reduce these conflicts and narrow the gap, the colonized countries should make a breakthrough on its limited industrialization by focusing on its own features-- resources and structures, and taking effective measures-- impoting foreign capital and technology and establishing independent or joint scientific research and ventures, to gain a long-term economic growth. For the relation between the colonization and the limited industrialization in colony, there are usually two views. One view is that people blame the colonizer were not willing to promote the development of industry in the colony. The other view is that people emphasize it was hard for the colonized to start the process of industrialization in the colony. In my opinion, both of the views are reasonable, but neither of them is comprehensive. In order to demonstrate my opinion on the relation, I choose British India and the Belgian Congo as two objects to analysis in the following paragraphs

One of the main dilemma’s associated with economic prosperity is that it does not take the environment into consideration as a way of calculating and accounting for capital depreciation, instead we only apply what we know as manufactured capital when accounting for capital depreciation (Jonathan M. Harris & Anne-Marie Codur, 2004, p.8). One may argue that long term sustainability of the environment goes hand in hand with economic development. If natural resources could be exploited for profit, then protecting those recourses would be in an economist’s best interests, right? Well, GDP and NDP (the most common methods of measuring economic production) do not take the environment into consideration. We must ask ourselves the question “What about natural capital?” (Jonathan M. Harris & Anne-Marie Codur, 2004, p.8). Production uses up nonrenewable natural resources such as oil, coal and minerals as well as renewable natural resources such as forests and fisheries which are also being depleted or damaged through over-use. We can also look at the waste that is released from the process of

Economic growth refers to the rate of increase in the total production of goods and services within an economy. Economic growth increases the productivity capacity of an economy, thereby allowing more wants to be satisfied. A growing economy increases employment opportunities, stimulates business enterprise and innovation. A sustained economic growth is fundamental to any nation wishing to raise its standard of living and provide a greater well being for all. Gross domestic product (GDP) is the monetary value of all final goods and services produced over a year. It is the total value of production within the economy. The total value of production is the total value of the final goods or services less the cost of

Talking about the Endogenous growth model, it clarifies long-run economic growth as radiating from economic activities that make new technological knowledge.

This paper introduces a basic history of the ecological Kuznets bend (EKC). The EKC suggests that pointers of natural debasement first ascent, and afterward fall with expanding salary per capita. Late confirmation demonstrates nonetheless, that creating nations are tending to natural issues, now and again receiving created nation benchmarks with a brief while slack and in some cases performing superior to anything some well off nations, and that the EKC results have an exceptionally wobbly factual establishment. Another era of decay and productive wilderness models can help unravel the genuine relations in the middle of improvement and the earth and may prompt the destruction of the exemplary EKC.

Economic growth is a vital element in determining the state of a country's economy. A dwindling economic growth is a clear sign of a economy that is in bad health. There are many components that can lead to the decline of economic growth. This essay shall discuss those negative effects; including government debt, labour market, high unemployment, and income inequality. Practical examples will be used to illustrate the relationship between the factors and how they make each other more problematic. A recession will typically be characterized by these negative impacts as a result of the 2007-2008 financial crisis. Not everyone will be affected by a recession, but throughout the paper it will illustrate how businesses as well as consumers can be greatly be damaged as a result.

The causes of economic development in a nation can vary, but popular arguments for their success is the geographical location of that nation, and their amount of natural resources. The broadening of economic wealth for a nation could lead to many outcomes, such as conflict, shifts in power, or a complete transfer in political ideology. From the late 1880’s through the 1920’s there was an exponential jump in the economic growth of Latin America. This spike was the result of the harvesting of Latin America 's immense agricultural resources that were exported to many nations. Latin America 's massive development of economic trade precisely compelled a liberal ideology among the nation and lead to internal conflict, power shift in social classes, and political reformation.

Economic growth refers to an increase in the capacity for an economy to produce goods and services as compared from one period of time to another. It can be measured either in nominal terms which include inflation, or in real terms that are adjusted for inflation. It is mainly influenced by unemployment, inflation, technology levels, rate of investment, population growth rate, among other factors. These factors are used further to explain the differences in the varying level of output per capita between and among countries, and explain why some countries are economically growing faster than others. These factors are best represented in both the theoretical and empirical forms through the neoclassical endogenous growth models (Steil, 2013, n.p.).

A lot of factors may fall under this heading such as a strong exchange rage, a high employment rate or high productivity but today we will be discussing the importance of entrepreneurship.

Thomas Malthus in his published book “An Essay on the Principle of Population” claimed that there is a tendency for the population growth rate to surpass the production growth rate because population increases at a geometrical rate while production increases at an arithmetic rate. Thus, the unfettered population growth in a country could plunge it into acute poverty. However, the pessimist view has proven unfounded for developed economies in that they managed to achieve a high level of economic growth and thus, both population and the real gross domestic product (GDP) per capita were able to increase.

As an important and popular issue in the field of economic research, it attracts many economists and there are many models to explain economic growth. In the history of the development of economic growth theories, there are three important stages which are the Classical Growth theory, the Neoclassical Growth theory and the Endogenous Growth theory. To start with, the Classical Growth theory is based on the Keynesian theory and the representative one is the Harrod–Domar model. It was put forward by Roy F. Harrod in 1939 and Domar in 1946. This is the first economic growth model, changing the research on economic growth from the qualitative to the quantitative. There are four exogenous parameters in the Harrod–Domar model: the capital - output ratio, saving rates, technological progress and population growth rate (Harrod, 1939). Harrod brought in the notion of three different growth. The first one is warranted growth (Gw), which means the growth rate when the investment can absorb all saving. The second one is natural growth (Gn), which is the rate to maintain full employment and determined by labor force. And the last one is actual growth (G), which can be determined by saving rate. The condition of stable growth is G=Gw=Gn. However, the condition cannot be met in the real world. As a result, the result of the Harrod–Domar model is the unstable growth (ibid). After that, Solow and Swan proposed the Solow-Swan model in 1956 separately, which belongs to

Economic growth and development of a economy is demonstrated to have links with educational level of its labour forces in human capital theories (Uzawa 1965; lucas 1988). These theories have contended that a major source of growth and development is embodied skills and development, and advances in technological production. Subsequently, wealth accumulation and its progress is determined by quantum of the human capital which is primarily acquired from formal education systems especially, higher education. Higher education plays an important role in the accumulation of human capital among the labour forces (Lucas 1988). More educated labour force is more skilled, more adaptable to the needs of changing economy and mare likely to develop the imaginative ideas, techniques and products. Any Structural change in the higher education sector is likely to affect the process of human capital formation. Many countries around a world are witnessing a wave of commercialization of higher education. The commercialization has brought structural change in the way this sector is administered in general and also the labour market associated with this sector, called academic labour market. The process of commercialization has segmented the academic labour market into primary and secondary labour markets. The secondary market is largely an informal labor market in which private interest is the prime driver. The magnitude of secondary market has been expanding with the expansion of

Education is the key to global economic growth and prosperity. For any educational institution to compete in the global market, it must invest in higher education in a manner that is productive, accountable and reactive to the contemporary needs of its population. Over the past decade, institutions of higher learning have experience a significant paradigm shift of the role of information technology. It has evolved from being solely a support function to becoming a leader in innovation for these institutions. This has allowed many to perform a system wide alignment of information technology with the institution’s larger vision and mission through developing a technology strategy.

Bangladesh is a developing country nevertheless the present day progress of this country is remarkable. According to World Bank’s development indicators, Bangladesh ranked 44th in the world economy. In spite of its economic progress, poverty remains a curse. By looking at the poverty headcount ratio of 43.3% as of 2010, we can still notice that most of the people are living under poverty line. Furthermore, the economic development of our country comes with an additional cost that is environmental degradation. As the Kuznets’s curve demonstrates developing counties undergo increased environmental degradation with economic growth. Similarly, in Bangladesh, the government encourages industrialization in many sectors to boost economic growth and alleviate poverty. On the other hand, industrialization is not reducing poverty levels or increasing the standard of living of the poor because many firms do not follow the rules and regulations. This in turn also is a reason for pollution and environmental degradation. Poor still remain poor for the cruel pollution-poverty cycle, while pollution and environmental degradation increases with mass industrialization, contributing to increased poverty.