To understand what an institutional void is, we must first understand what an institution is. An institution is an organisation which sets the ‘rules of the game’. In the context of a nation, there are two categories of institutions; formal and informal. Informal institutions tend...
In the beginning of the 1870s, the United States entered an impactful period of American history known as “The Gilded Age”, which caused an outstanding transformation due to industrialization and urbanization. However, this era’s transformation created a mere facade for the corruption and classism. A...
This paper aims to analyze the key factors that contributed to the growth of Thailand’s economy back in the 1980s to mid-1990s. It identifies the external and internal factors that was a major change to the economy of Thailand. The study focuses solely on those...
Foreign aid is characterized as the exchange of genuine assets from developed economies to less developed economies on a favorable term. According to Development Assistance Committees (DAC), foreign aid involves as official development assistance and technical assistance barring military assistance. In any case, foreign aid...
Michael Tomz theory can be argued in both positive and negative ways. If a private bondholder or a commercial bank base a country’s reputation on its external image, self-image and additional factors from global market factors, most of the countries are badly reputed. Made-to-order essay...
Introduction John Steele Gordon, for the past 20 years, has been a highly experienced specialist in the business field. In addition to being the author of many scholarly books, he was a contributing editor to American Heritage, written by John Steele Gordon. The argument discussed...
The question is whether economic growth is the same as economic development. I am going to make fair points about them and decide whether they are the same. Economic growth refers to the rise in the value of everything produced in the economy. It implies...
Foreign aid, economic growth and economic development are burning issues confronting development economists and researchers today. This is simply because some of the researchers support the view that foreign aid lead to growth while others argue that aid does not contribute to economic growth and...
Abu ‘Ubayd stated: In a few reports it says that the month implied by ‘Uthman was Muharram. By saying this, ‘Uthman 4 affirmed the accompanying standards: (I) That zakat is to be paid every year because the condition for paying zakat – aside from because...
Any country has its way of development. Some countries maintain to thrive in a quickly changing environment, and some have difficulties. Often, IMF and World Bank, which is supported by developed countries, tend to guide underdeveloped countries to make progress by introducing neo-liberalism policies. However,...
Entrepreneurship plays an influential part in the economic development and way of life of the country. As a startup founder or small business owner, you may think that you are simply working hard to build your own business and provide for yourself and your family....
One long term effect of the resource curse is the reduction in the quality of institutions and in the government itself. Boschini, Pettersson, and Roine contend that for the resource curse theory to be true in the first place there must be a dearth of...
In spite of the fact that MENA nations endured the outcomes of frail financial action in mechanical nations in the mid 1990s, the emergency activated by Iraq’s attack of Kuwait, and unsuitable oil-economic situations, the region accomplished positive rates of genuine monetary growth all through...
Politicians had been advocating for minimum salary growth often over the previous couple of years and elections. Most Democrats argue for growth at the same time as Republicans generally oppose it. Democrats say we want a boom in the minimal salary to raise human beings...
The information technology industry is revolutionizing the world’s economy by changing the way companies do business. Technological advancements have transformed the methods in which firms organize production, invest capital, and create new products or services. Today, it is quite difficult to imagine business without the...
Managing finances can feel like navigating a maze—confusing, overwhelming, and often frustrating. Yet, mastering your finances is not just about cutting expenses or saving for a rainy day; it’s about developing a mindset of control and awareness regarding your spending habits. One effective way to...
Countries are classified today depending on the division of labor due to globalization. Core industrial countries are responsible for high value-adding production and peripheral societies from developing countries do labor-intensive yet low value-adding production. Malcolm Waters said that the global division of labor widens the...
As we dive into the world of electric vehicles, one name stands out like a beacon of innovation and ambition: Tesla. Among its impressive lineup, the Model S has been a game-changer since its debut in 2012. Today, we’re going to explore where the Model...
The economic rent of a natural resource equals the value of capital services flows rendered by the natural resources. The main resource rent of the MENA region is on oil and gas. The rental and Real Estate Property Market of most of the MENA region...
When we think about the advancements that have shaped our world, it’s hard to overlook the profound impact of electricity. It’s not just a convenience; it’s the backbone of modern civilization. From powering our homes to enabling technological innovation, electricity stands as arguably the most...
Introduction In discussing the role of entrepreneurship in economic development, this essay essay recognizes that entrepreneurs play an essential role in the progress of a country. Their skills, talent, and hard work are crucial in delivering necessary goods and services that citizens require. By creating...
As the automotive industry stands at a pivotal juncture, Jaguar Land Rover (JLR) finds itself navigating a rapidly evolving landscape characterized by the rise of electric vehicles (EVs). The shift towards electrification is not merely a trend but a necessity driven by environmental concerns, regulatory...
This paper will discuss the current economic system which represents a linear model, and how it can be replaced by a circular economy which produces considerably less waste. As the world population increases and technology advances exponentially, the matter to wisely use finite resources is...
Pasadena, Texas, located in the heart of Harris County, is a city that embodies a rich blend of history, economic growth, and vibrant community life. Its zip code 77506 places it firmly in an area that has witnessed significant changes over the decades. For anyone...
Understanding the Industrial Revolution The Industrial Revolution was a game-changer in history, marking the transition from agrarian economies to industrialized societies. This transformation began in the late 18th century and continued into the 19th century, primarily in Europe and North America. Imagine a world where...
Africa’s growth prospects do appear favourable in the medium-term driven by continued prudent macroeconomic management and strong domestic demand, underpinned by increasing public and private investment especially in infrastructure in most countries. Growth is expected to reach 3.6% in 2018 and 3.8% in 2019. Made-to-order...
The Early Years: Foundation of a Mogul To dive into whether John D. Rockefeller was a “Captain of Industry,” we first need to look at his early life and the circumstances that shaped him. Born in 1839 in Richford, New York, Rockefeller’s childhood wasn’t marked...
This essay will discuss globalization which is a process that refers to international integration among countries, economies, regions, and individuals in order to create a global network. Examples of globalization which occur in real life will be given as well as what causes it and...
When we think about the Market Revolution, which occurred in the United States from the late 18th century through the early 19th century, we often focus on economic changes—new technologies, factories popping up, and the rise of a more consumer-oriented society. However, one of the...
The bigger the number, the better. In economics, this cannot be truer, unless if talking about unemployment rates, inflation, or the HDI. Growing GDP is a great indicator of economic growth, as is GDP growth, but the problem is that it is only a good...
