Political democracy, state strength and economic growth in LDCs: a cross-national analysis

1984 ◽  
Vol 10 (4) ◽  
pp. 297-312 ◽  
Author(s):  
Erich Weede
Keyword(s):  
Economic Growth ◽  
Political Participation ◽  
Developed Countries ◽  
Necessary Condition ◽  
Rapid Economic Growth ◽  
State Strength ◽  
External Pressures ◽  
Phases Of Development ◽  
The Third World ◽  
National Analysis

While economic growth is not a sufficient condition for the elimination of hunger and abject poverty, it certainly looks like a necessary condition, particularly in the poorest countries (Ahluwalia, Carter and Chenery? 1979), So economic growth is desirable, and desired, in the third world (irrespective of one's evaluation of the effects of growth in industrialized, high income countries). As well as pressures for growth? there are internal and external pressures for the democratization of the political systems of less developed countries. Yet some authors claim that democracy and economic growth are incompatible. A strong version of the incompatibility thesis is maintained by the sociologist Andreski (1969: 266): ‘Democracy is compatible with rapid economic growth only in countries which already have enough resources to make heavy investment a relatively painless process. There is no case of a democratic government breaking through a vicious circle of misery and parasitism.’ Though qualifying the incompatibility proposition and restricting it to ‘later phases of development’, Huntington and Nelson (1976: 42–3) similarly argue that ‘… higher levels of political participation tend to produce lower rates of economic growth’. While political participation is not identical to democracy, the latter obviously permits the former. If democracy and growth were indeed incompatible in LDCs (or some subgroup thereof), then a major problem of choice has to be faced.

Reducing the Risks of the Financial Sector to Ensure Sustainable Growth of the Russian Еconomy

2019 ◽  
Vol 12 (3) ◽  
pp. 86-92
Author(s):  
T. I. Minina ◽  
V. V. Skalkin
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Financial Sector ◽  
Developed Countries ◽  
Sustainable Growth ◽  
Necessary Condition ◽  
Real Sector ◽  
Financial Instruments ◽  
The Real ◽  
The Impact

Russia’s entry into the top five economies of the world depends, among other things, on the development of the financial sector, being a necessary condition for the economic growth of a developed macroeconomic and macro-financial system. The financial sector represents a system of relationships for the effective collection and distribution of economic resources, their deployment according to public demand, reducing the risk of overproduction and overheating of the economy.Therefore, the subject of the research is the financial sector of the Russian economy.The purpose of the research was to formulate an approach to alleviating the risks of increasing financial costs in the real sector of the economy by reducing the impact of endogenous risks expressed as financial asset “bubbles” using the experience of developed countries in the monetary policy.The paper analyzes a macroeconomic model applied to the financial sector. It is established that the economic growth is determined by the growth and, more important, the qualitative development of the financial sector, which leads to two phenomena: overproduction in the real sector and an increase in asset prices in the financial sector, with a debt load in both the real and financial sectors. This results in decreasing the interest rate of the mega-regulator to near-zero values. In this case, since the mechanisms of the conventional monetary policy do not work, the unconventional monetary policy is used when the mega-regulator buys out derivative financial instruments from systemically important institutions. As a conclusion, given deflationally low rates, it is proposed that the megaregulator should issue its own derivative financial instruments and place them in the financial market.

The Economy

2017 ◽  
Author(s):  
Sumit Ganguly ◽  
William R. Thompson
Keyword(s):  
Economic Growth ◽  
State Capacity ◽  
External Pressure ◽  
Great Power ◽  
Rapid Economic Growth ◽  
External Pressures ◽  
Starting Point ◽  
Catch Up ◽  
Political Capabilities

This chapter focuses on the economy, which provides a critical foundation for or potential roadblock to expanding state capacity. A state's economy is an important factor in assessing possibilities of ascent to great power status. This is because a state with a weak economy is highly vulnerable to external pressure. To gain more autonomy and insulation from external pressures, one must develop the economy so that resources are available for both resisting other states' influence and pursuing one's own state goals. If these goals include gaining membership in the elite club of states, considerable resources are needed to pay for the requisite military-political capabilities. If the starting point is far behind the competition, that means that the catch-up will require considerable and rapid economic growth.

Science, Technology and Development: China as a “Case Study”

1972 ◽  
Vol 51 ◽  
pp. 520-534 ◽  
Author(s):  
Genevieve C. Dean
Keyword(s):  
Economic Growth ◽  
Technological Change ◽  
Third World ◽  
National Development ◽  
Developed Countries ◽  
Developing Economy ◽  
The Third ◽  
Self Reliance ◽  
The Third World

China shares with the developing countries of the third world the broad objective of economic growth, starting from a condition the Chinese themselves describe as “poor and blank” relative to the material resources of the developed countries. Yet “self-reliance” has been the keynote of Chinese policies for ten years, and the Chinese now urge the rest of the third world countries to adopt the same principle for their own development. In broad terms, “development” refers to the improvement of a society's material welfare, resulting from economic growth and from appropriate measures of income distribution. In Chinese and, increasingly, in general usage, such economic growth is identified with the use of production processes and the production of goods new to the developing economy. “Self-reliance” does not necessarily preclude transfer of foreign technologies into the developing country, but specifies technological change which occurs in response to demands arising within the developing economy itself, rather than imposed on it from outside. In any country, demand for technological change and distribution of the fruits of technological advance are dependent on its political and social structure, as well as on economic factors, and on the country's international economic and political bargaining power. China, whose leaders have a particular perception of the implications of these relationships for their development objectives, is an especially significant “case study” of the use of science and technology for national development.

Globalisation and Economic Growth in the Third World: Some Evidence from Eighteenth-Century Mexico

2005 ◽  
Vol 37 (3) ◽  
pp. 437-467 ◽  
Author(s):  
CARLOS ALEJANDRO PONZIO
Keyword(s):  
Economic Growth ◽  
Eighteenth Century ◽  
International Trade ◽  
Market Integration ◽  
Third World ◽  
The Third ◽  
Rapid Economic Growth ◽  
Bourbon Reforms ◽  
The Third World

This article studies the connection between globalisation and economic growth in eighteenth-century Mexico. This was a period of globalisation in Mexico, characterised by market integration and growth in international trade. I estimate economic growth at that time and explore its relationship with the dominant export of the epoch, silver. The results show that Mexico experienced rapid economic growth in the eighteenth century and, furthermore, that exports caused that growth. During the period of Bourbon reforms economic growth improved, but not dramatically. Mining ceased to be the engine of growth by the end of the century.

scholarly journals NBU'S influence on economic growth through bank capital regulations

2020 ◽  
Vol 93 (8) ◽  
pp. 47-56
Author(s):  
L. Sus ◽  
◽  
Yu. Sus ◽  
M. Sapatsinsky ◽  
S. Cherepansky ◽  
...  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Banking System ◽  
Developed Countries ◽  
Capital Adequacy ◽  
Necessary Condition ◽  
Bank Capital ◽  
Regulatory Capital ◽  
Banking Institutions ◽  
The Impact

In crisis situations, stable and efficient functioning of banking institutions is a necessary condition for country’s economic growth. Capitalization is one of the important factors that creates a positive impact of the domestic banking system on economic development. The purpose of the study is to substantiate the patterns and differences in the strength and nature of the impact of capital adequacy requirements on the financial and economic development of countries. The key tasks include: research of capitalization indicatorsof the banking system of Ukraine; identification of the impact of bank capital adequacy on the financial and economic development of individual European countries and other highly developed countries. The research methods were: theoretical -study of foreign and domestic scientific literature, materials and publications, and empirical -measurement, comparison, grouping, rating, correlation and regression analysis.The article analyzes the essence of the concept of "bank capital" and identifies the peculiarities of its formation. The dynamics of equity and authorized capital of Ukrainian banks in recent years has been studied and the capitalization indicators of the banking system have been calculated. The structure of bank capital in terms of banking groups is presented. The share of equity of the largest banks in the banking system of Ukraine is calculated. The banks were grouped by the amount of capital in order to identify those banking institutions that need further additional capitalization. Prospects for the development of sources of growth of bank capital of state, foreign and private banks of Ukraine are analyzed and evaluated. The economic standards of the NBU (size of regulatory capital, adequacy of regulatory capital, adequacy of fixed capital) are characterized and the dynamics of regulatory capital indicators is presented. The rating of banks in Ukraine according to the highest and lowest indicator of regulatory capital adequacy is built. The results of the correlation between the capital of the banking system and the financial and economic indicators of development of a number of European and other highly developed countries are presented. The regularities and differences of the influence of banks' capital adequacy on the financial and economic development of countries using the method of correlation-regression analysis are characterized.Prospects for further research in this area are the improvement of existing or development of new economic and mathematical models to determine the forecast indicators of financial and economic development of the country when changing the supervisory requirements for capital adequacy of banks.

Amiya Kumar Bagchi. The Political Economy of Underdevelopment. London: Cambridge University Press. 1982. Reprint 1983. pp.viii+276. List of books for further reading; Index. Price: £ 8.50 (paperback edition).

1985 ◽  
Vol 24 (1) ◽  
pp. 77-82
Author(s):  
Zia Ul Haq
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Third World ◽  
Social Process ◽  
Growth Strategies ◽  
Cambridge University ◽  
Working Classes ◽  
The Third ◽  
The Rich ◽  
The Third World

Amiya Kumar Bagchi, an eminent economist of the modern Cambridge tradition, has produced a timely treatise, in a condensed form, on the development problems of the Third World countries. The author's general thesis is that economic development in the developing societies necessarily requires a radical transformation in the economic, social and political structures. As economic development is actually a social process, economic growth should not be narrowly defined as the growth of the stock of rich capitalists. Neither can their savings be equated to capital formation whose impact on income will presumably 'trickle down' to the working classes. Economic growth strategies must not aim at creating rich elites, because, according to the author, "maximizing the surplus in the hands of the rich in the Third World is not, however, necessarily a way of maximizing the rate of growth".

PENGARUH INFRASTRUKTUR SECARA SPASIAL TERHADAP KONVERGENSI PERTUMBUHAN EKONOMI DI INDONESIA

INFO ARTHA ◽  
2017 ◽  
Vol 1 ◽  
pp. 17-28
Author(s):  
Anisa Fahmi
Keyword(s):  
Economic Growth ◽  
Regional Economics ◽  
Developed Countries ◽  
Road Infrastructure ◽  
Long Run ◽  
Catch Up ◽  
The Developed Countries ◽  
Positive Effect ◽  
Neoclassical Growth Theory

Motivated by inter-regional disparities condition that occurs persistently, this study examines the Indonesian economy in the long run in order to know whether it tends to converge or diverge. This convergence is based on the Solow Neoclassical growth theory assuming the existence of diminishing returns to capital so that when the developed countries reach steady state conditions, developing countries will continuously grow up to 'catch-up' with developed countries. Based on regional economics perspective, each region can not be treated as a stand-alone unit,therefore, this study also focuses on the influence of spatial dependency and infrastructure. Economical and political situations of a region will influence policy in that region which will also have an impact to the neighboring regions. The estimation results of spatial cross-regressive model using fixed effect method consistently confirmed that the Indonesian economy in the long term will likely converge with a speed of 8.08 percent per year. Other findings are road infrastructure has a positive effect on economic growth and investment and road infrastructure are spatially showed a positive effect on economic growth. In other words, the investment and infrastructure of a region does not only affect the economic growth of that region but also to the economy of the contiguous regions. 

April 20 to 26, 2020 – World Immunization Week

2020 ◽  
pp. 76-79
Author(s):  
Oksana Rybachok
Keyword(s):  
Western Europe ◽  
Whooping Cough ◽  
Developed Countries ◽  
World Health ◽  
Modern World ◽  
Pneumococcal Infections ◽  
Preventive Vaccination ◽  
The Russian Federation ◽  
Health Organization ◽  
The Third World

Infectious diseases in the modern world continue to claim millions of human lives despite the achievements of medicine. While in developed countries the main cause of death is cancer and diseases of the cardiovascular system, it is the infectious processes that occupy leading positions in the structure of mortality in the third world countries. About 1.7 million children die from infections that could have been avoided by vaccination according to the World Health Organization. In contrast to the countries of Western Europe, where preventive vaccinations for the population are carried out for a fee, preventive vaccination in the Russian Federation is funded by the state. Immunoprophylaxis includes not only prevention of 12 major infections included in the calendar of preventive vaccinations (diphtheria, polio, tetanus, whooping cough, tuberculosis, measles, rubella, mumps, hepatitis B, pneumococcal infections and haemophilus influenzae, influenza), but also vaccination against 17 additional infections in case of epidemiological indications.

Global E-Waste Management and Second-Hand Consumption in the Third World: Substandard Context and Tokunbo Phenomenon in Nigeria

2012 ◽  
Vol 10 (1) ◽  
Author(s):  
Ayokunle Olumuyiwa Omobowale
Keyword(s):  
Third World ◽  
New Products ◽  
Developed Countries ◽  
Environmental Standards ◽  
The West ◽  
Environmental Threats ◽  
The Public ◽  
Standards And Regulations ◽  
The Third World ◽  
National Environmental

The world is technologically advancing, but the management of resultant waste, commonly known as e-waste, is also becoming very challenging. Of major concern is the incessant flow of this waste into the developing world where they assume secondhand value in spite of the associated environmental threats. This study adopts the qualitative approach to examine this phenomenon in Nigeria. The study reveals that aside from being cheaper than the new products, second-hand goods are usually preferred to the new products due to the substandard nature of most new electronics largely imported from Asia (especially China). The tag of Tokunbo or ‘imported from the West’ associated with second-hand goods imported from developed countries makes them more preferable to the public relative to new electronics imported from China, disparagingly termed Chinco. Yet both the second-hand electronics that are socially appreciated as Tokunbo and the substandard new electronics imported into Nigeria together render the country a huge recipient of goods that soon collapse and swell the e-waste heap in the country. This situation may be mitigated through strengthening the Standards Organisation of Nigeria and the National Environmental Standards and Regulations Enforcement Agency, and also by sensitizing Nigerians on the dangers inherent in e-wastes.

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