Archive for December, 2011
Developing countries might be the ones who have to work extra hard on economic development. The economist, government and policy makers should think and compile a perfect formula to make the economic growth. It is true that the economic growth can be achieved without the economic development. However, the facts proved that economic development contributes a lot to economic growth and human development. In global, economic development can be a way to accelerate the developing process of many aspects in developing countries. There are many theories about the patterns of economic development in developing countries. However, the theories should be applied according to each country’s condition. The adjustment of theories is still needed.
Natural resources hold a very important role to improve economical condition in most of developing countries. When developed countries have done the sequence of utilizing natural resources from decades ago, developing countries are still on their way of finding what the natural resources from the countries are and how to maximize the value of natural resources they have. Indonesia is the example of developing countries which has a lot of valuable natural resources. This archipelago country has many varied flora and fauna populations. The mining is also one of the best assets of Indonesia, which invites a lot of foreign investors. The economical development of Indonesia is helped a lot with these foreign investors. A lot of people are employed in foreign companies. However, with the lack of Indonesian professionals, Indonesia will reach the stability of economical growth slowly. Read the rest of this entry »
Economic development will only be successful if the whole parts of nation willing to give their best efforts towards it. In these centuries of capitalism, a nation should give more concern to this issue to stabilize their economical condition in the world’s view. This world’s view of economical condition has strong cause and effect with political condition of a nation. Many theorists have contributed their knowledge of how the economic development should be practiced. Modernization and industrialization are terms that frequently mentioned when economic development is being discussed. Per capita income also determines economists, politicians and policy makers deciding the actions and policies made to improve the economical condition of a specific area.
Economic growth and human development effects one and another. Economic growth brings benefits for human development. The expenditure of a families, government and Non-Governmental Organization will be improved along the increase of Gross National Products. The increase of Gross National Products is one of the indications of economic growth. When a nation’s average income increases, the education, healthcare and public services for the nation’s citizen will also improve. Economic growth can be achieved by employing economic development. Direct foreign investment is one of the aspects to achieve economic growth. This aspect is strongly influenced by the political stability of a nation. It is not a surprise that the form of a politic of a nation decides how the economical condition and human development of it. The patterns of economic development vary between one nation and another. There are many factors that influence actions and policies are made regarding to economic development. Read the rest of this entry »