INTERNATIONAL BUSINESS
INTERNATIONAL BUSINESS
12th Edition
ISBN: 9781260997446
Author: Hill
Publisher: MCG
Question
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Chapter 2, Problem 1CDQ
Summary Introduction

Case summary:

The case deals with the economic transformation in Country V. Party C decides to bring reform to move the country to market economy from a centrally planned socialist economy to handle the economic crisis. Due to which, the country has joined world trade organization, entered into a trade agreement with other countries, privatized agricultural lands, restriction to the free enterprise were relaxed and dismantled farm collectives.

Economic reforms of Country V resulted in positive outcomes. In 1986, Country V was one of the poorest countries in the world with $100 per capita income and 700 percent inflation rate. However, after the economic reforms, the per capita income was raised to $6,400 and Country V is the major exporter of agricultural goods and textiles.

To determine: The reason for the low economic growth in Country V after the end of the war in Country V

Introduction:

Economic growth is the process which helps the country to increase their social well-being and political situation. It is also said to be the amount of services or good produced by the country per head over the period.

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