Economics

Research conducted over the years has significantly indicated that the development of institutions inherently depends upon the level of economic growth within a particular country, specifically its GDP per capita ratio since the IMF in its report has conducted empirical analysis using that very variable. At the basis of it, one can conclude, employing theoretical concepts, that the relationship between economic growth and the development of institutions is extremely strong, however, when one attempts...

The importance of legal enforcement versus cultural norms in controlling corruption is very less understood. As a means of untangling these factors, Fisman and Miguel performed a natural experiment using the stationing of thousands of diplomats in New York City.  Diplomatic immunity for the diplomats means there is zero legal enforcement of diplomatic parking violations. Use of this setting has allowed Fisman and Miguel to examine the role of cultural norms alone in corruption (Newsmax). This...

Over the passage of time, economists have developed different quantitative measures to gauge the success of a country relative to another. The three most famous measures to determine the economic progress of a country are the gross domestic product (GDP), the Gini Index, and the human development index (HDI). The GDP measures the total economic output produced by a country. The basic assumption is that if the output increases, then it means that everyone has more goods and services, and would therefore,...

World War I was a total war and required immense financial preparations to sustain it. However, Germany was ill prepared for this kind of war that placed such an economic burden on the people and government of Germany. Germany expected to win the War in a short time therefore, it postponed the ultimate resolution of the financial demands to the end of the War. During World War I, Germany concerned itself primarily with the production and supply of weapons for the front and the undisturbed funding...

Part  I Introduction Australia is one of the developed economies of the world that has reflected a strong economic performance over the last few decades. The economic growth has been characterized by a rising level of skilled labor force, declining unemployment and increasing productivity. During the period when most of the countries are struggling to contain inflationary trends, Australia has a low inflation rate and the economy continues to remain insulated from the global influences. The...

Most economic policies have their foundation in the idea of a perfect market characterized by fully informed players, no transaction costs, and no externalities. Any deviations from the perfect model specifications lead to market failures. While scholars do theorize a perfect market, it is impossible to have a perfect market in practice (Booth, 2008). A market failure occurs when economic resources are allocated in a manner which leads to an outcome which is below the Pareto optimal (Makin, 2009)....

The international community efforts to ensure that nations have adequate financial resources to support social and economic development programs has lending of loans by the International Monetary Fund (IMF).Countries   that manage to secure IMF loans are expected to agree to the terms and conditions of lending provided by the IMF.Brazil is one of the countries that has received financial assistance from the IMF for decades   Brazil is the most populous and largest country in South America....

This aim in doing this research is to investigate the economic assistance of using the internet as an advertising tool in organizations. The research speaks about the various concepts of advertising, specifically aimed at TV and web ads, and seeks to determine their strengths and weaknesses so as to set them apart. The proposal is based on the foundation that markets and industries are on the rise as a result of globalization and the introduction of new technologies. Conventionally, marketing is...

Till a few years ago it was fashionable to have the opinion that the relationship based system dominant in Asian economies was better than the Arms length Anglo Saxon system. There were even reported calls for the US to adopt measures from such a system. However, with the Asian economic crisis all such opinion has such subsided (Rajan and Zingales, 2000). The question still remains that is this a temporary setback for the system or does it herald its demise. For this we first have to understand...