WHAT FACTORS INFLUENCE THE ECONOMIC DEVELOPMENT OF COUNTRIES? OBJ: TO DETERMINE THE HOW WEALTH,...
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Transcript of WHAT FACTORS INFLUENCE THE ECONOMIC DEVELOPMENT OF COUNTRIES? OBJ: TO DETERMINE THE HOW WEALTH,...
WHAT FACTORS INFLUENCE THE ECONOMIC DEVELOPMENT OF
COUNTRIES?
OBJ: TO DETERMINE THE HOW WEALTH, HEALTH & EDUCATION
CONTRIBUTE TO A NATION’S ECONOMIC STATUS
DEVELOPMENT REGIONS
HDI – HUMAN DEVELOPMENT INDEX IS USED TO MEASURE THE DEVELOPMENT OF EVERY COUNTRY
• WEALTH, HEALTH & EDUCATION• 9 REGIONS: 2 DEVELOPED• 7 DEVELOPING
• OBSERVATIONS?• WHY DO YOU THINK?
• INCOME: GNI- GROSS NATIONAL INCOME IS THE VALUE OF THE OUTPUT OF GOODS & SERVICES PRODUCED IN A COUNTRY IN A YEAR INCLUDING MONEY LEAVING & ENTERING
• PPP – PURCHASING POWER PARITY IS THE ADJUSTMENT TO GNI TO ACCOUNT FOR DIFFERENCES AMONG CONTRIES IN THE COST OF GOODS
• GNI PER CAPITA: DIVIDE GNI BY TOTAL POPULATION TO DETERMINE INDIVIDUAL’S CONTRIBUTION
• VARIATIONS WITHIN A REGION & COUNTRY
MORE ON $$$$• ECONOMIC STRUCTURE:• PRIMARY, SECONDARY &
TERTIARY SECTORS• DEVELOPED & DEVELOPING
COUNTRIES VARY IN TERMS OF TYPES OF JOBS THAT CONTRIBUTE TO GNI
• EXAMPLES?• PRODUCTIVITY: VALUE OF A
PARTICULAR PRODUCT COMPARED TO THE AMOUNT OF LABOR NEEDED TO MAKE IT & MEASURED BY VALUE ADDED PER CAPITA: V.A. IN MFG IS GROSS VALUE OF A PRODUCT MINUS THE COSTS OF RAW MATS & ENERGY
• DEVELOPED COUNTRIES PRODUCE MORE W/ LESS BECAUSE….?
• INEQUALITY ADJUSTED HDI: MODIFIES HDI TO ACCOUNT FOR INEQUALITY WITHIN A COUNTRY
• LOWEST SCORES SUB-SAHARAN AFRICA & SOUTH ASIA
• CONSUMER GOODS: CELL PHONES, CARS, COMPUTERS – HOW DO THESE CONTRIBUTE TO ECO GROWTH OF A COUNTRY?
HEALTH: LIVE LONG & PROSPER • NUTRITION & MEDICAL SERVICES
• LIFE EXPECTANCY AT BIRTH IMPORTANT
• VARIATIONS W/I REGIONS
• DEPENDENCY RATIO• # OF HOSPITALS,
HEALTH CARE PROVIDERS, ACCESS TO INSURANCE
• DOES THE COUNTRY VALUE HEALTH, USE GNI FOR IMPROVED HEALTH?
• HOW DO COUNTRIES BALANCE CULTURAL PRACTICES & BELIEFS & PROTECT POPULATION?
• AIDS? EBOLA & BURIAL PROCEDURES? VACCINATIONS?
• QUANTITY OF SCHOOLING: YEARS & EXPECTED YEARS• THE LONGER YOU STAY IN SCHOOL THE BETTER OFF YOU
ARE• QUALITY OF SCHOOLING• PUPIL/TEACHER RATIO: FEWER KIDS PER TEACHER =
BETTER LEARNING• LITERACY RATE: IS THE PERCENTAGE OF A COUNTRYS
PEOPLE WHO CAN READ & WRITE.
VARIATIONS OF DEVELOPMENT
• VARIATIONS HIGH IN SW ASIA & N. AFRICA & CENTRAL ASIA – WHY?
• WHAT’S THE GREATEST ASSET THESE REGIONS HAVE?
• BRAZIL, CHINA & MEXICO: SOME OF LARGEST & MOST POPULOUS
• ALL MIDDLE OF THE HDI SCALE
• URBAN, COASTAL, LOCATION