Why Some Nations Experienced Rapid?

It is apparent(a) clay the different region and countries that argon active and operating all over the world that scotch process is non equally distributed amongst all nations. Some countries depict an increasing respect of scotchal development like in China, India and Singapore, part others ar face up recession like Europe and America. Moreover the nature of the economic harvest is also different ranging from short term economic gain to sustainable long term economic emergence. The fol offseting paper provides information on the matter of economic development and why it is different for different countries in the world.The major sources of growth which toilet result in a productive macroeconomic environment in a country pertain to growth in the productivity and the operations taking place in the country. tete-a-tete ownership of industries and businesses motivates people to be more than successful at them and coiffe better resulting in exponential economic growt h in the region. away from this the policies favoring freedom to exchange alter the business to interact and trade freely resulting in more economic activity. Competitive markets reduce inefficiencies and provide continual improvement for the industry and the economy. An efficient great(p) market modifys the region to deepen its capital mechanism into a wealth generating projects. Moreover the present of fiscal stability in the region contains and stabilizes the pricing in the market as well.This is as opposed to inflationary monetary policies which distort optics in the regional market. The low tax rank in the region also enable the country to achieve economic growth as the people are able and permitted to keep more of what they earn off their productivity, resulting in more drive to increase their productivity. Lastly establishment of free trade zones enable the region to increase its economic activity as well as the country can export products it is efficient at producing and can upshot those which it dopes not cave in at genuinely low costs.The supra highlighted principal(prenominal) elements which lead to economic growth of regions and countries can be lacking in some countries, and this is the main reason as to why some countries pass economic growth while other dont in the same period of time. Countries having a high direct of poverty, unemployment and the lack of fundamental al-Qaida and standardized way of life often experience dead(a) economic growth.However if capital investment is made in these countries to set use of the unemployment levels and increase productivity and employ people in the industries, past its possible to create a long term positive economic growth for the country. Countries riddled with bureaucracy are often having high level of inefficiencies in its markets resulting in stunted growth. Similarly the lack of establishment of dealings with other countries and the lack of trade zones and agreements can also res ult in low productivity ad trade for the country depicting low or no level of economic growth.As highlighted above capital investment in the country is very important, specific to the development of the infrastructure and establishment of new profit generating industries. One sector of immense growth is the technology and the telecommunications sector. Investment in the field of information technology can increase the communication network in the region.There are iii main channels through which ICT can affect growth rates of GDP per capita i) an acceleration of productivity in the ICT-producing sectors themselves and, despite what was said above about the limited role for shifts between broad economic sectors, a growing size of ICT-producing sectors in the economy ii) capital deepening crosswise the economy, driven by rapid investment in ICT equipment, and resulting in a boost to labor productivity and iii) widespread spillover effects on productivity arising from the use of ICT te chnology. (Elmeskov & Scarpetta, 2000)In order to induce growth in a region, in the long term, some sacrifices have to be made in the short term for a sustainable level of growth which is not temporary or non incremental and developmental in nature. The most evident sacrifice that needs to be made is by the consumers and the people in the country who have to save money and reduce their spending on consumer goods specifically those imported form international sources. Instead buying topically produced goods and services increases the demand and therefore the productivity in the local market resulting in economic growth which is developmental in nature. Aside form this the decisions need to be made where the industries and the companies operating in the region have to invest in projects which provide long term sustainable growth instead of short term profit generating projects.It is also possible for the political, kindly and the legal environment in certain countries to pose as barr iers for keep up economic growth. The political scenario in the country determines the focus the developmental and economic policies being made in the region. An unstable political environment provides unbelief in the industry resulting in lack of economic growth while a development oriented political climate increases economic growth in the region. Similarly the legislature pertaining to how trade is conducted with countries and the nature of investment in the region also determine economic growth for the region.If the legislature is very conservative hinting bureaucracy then it poses as a barrier for economic growth. Moreover the social constructs and the cultural values of the people in a country can also result in reduced economic growth. One main example of this is the lack of women participation in the function towards the economy in the South Asian and Middle Eastern countries.ReferencesElmeskov, J., Scarpetta, S., immature Sources Of Economic Growth In Europe?, The New M illennium fourth dimension For A New Economic Paradigm, 2000, accessed March 9, 2008 from