Economic Development

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Economics Assignment 1
Economics Assignment 1
Shaun Cloete 12-009167 Stuart Buchanan
12-002085
Shaun Cloete 12-009167 Stuart Buchanan
12-002085

Table of Contents
Question 1:3
1.13
1.24
1.34
1.45
1.55
1.65
1. Eradicate extreme poverty and hunger5
2. Achieve universal primary education6
3. Promote gender equality and empower women7
4. Reduce child mortality8
5. Improve maternal health9
7. Ensure environmental sustainability12
Question 2:16
2.116
2.216
2.316
2.416
2.517
2.617
2.6.117
2.6.218
2.6.318
2.6.419
2.6.520
2.6.621
2.722
2.823
2.923
Bibliography24

Question 1:

1.1
Country| GNI Per Capita| Poverty Headcount ratio at national poverty line| South Africa| 5,730| N/A|
Bulgaria| 6,080-| N/A|
Egypt| 2,160| 22.0|
Brazil| 8,150| 21.4|
India| 1,150| 29.8 (2011)|
Figures taken from worldbank.org (date accessed 10 march 2013) Comments:

It appears that there is an inversely proportional relationship between GNI and poverty headcount. As the country develops and more money is earned per capita, economic growth is stimulated resulting in a decrease in the amount of people living below the poverty line.

I don’t however think that one may use GNI per capita as a means of gauging the poverty line and how many people are living under it, without considering more data. I say this because of the fact that the rich people may be getting richer causing the GNI figure to be over inflated.images taken from http://data.worldbank.org/sites/default/files/section4.pdf (date accessed 10 march 2013) images taken from http://data.worldbank.org/sites/default/files/section4.pdf (date accessed 10 march 2013) 1.2

Country| GDP|
South Africa| 2.9|
Bulgaria| 0.4|
Egypt| 5.1|
Brazil| 7.5|
India| 9.6|
Data taken from worldbank.org(date accessed 10 march 2013
Comments:

One of the prerequisites for the definition of a developing country is a display of rapid economic growth. Therefore, no a country is not developed if it shows signs of rapid economic growth. If a country is already developed then they can not rapidly start growing more (unless they start a war in another country for oil or something like that )

1.3

Country| Saving as % of GDP|
South Africa| 16%|
Brazil| 17%|
Egypt| 17%|
Bulgaria| 24%|
India| 34%|
Data taken from worldbank.org(date accessed 10 march 2013

1.4

Country| Industry as % of GDP|
India| 26%|
Brazil| 28%|
South Africa| 31%|
Bulgaria| 31%|
Egypt| 37%|
| |
Data taken from worldbank.org(date accessed 10 march 2013

Comments:
Yes I do feel that industrial production implies development if one decides that development means more money in the economy. If the country is experiencing more production, this can only be attributed to development of the country because production would not take place if there were not the money to do the production. 1.5

Country| GDP| GNI | |
South Africa| 3.1| 10,710| |
Chile| 6| 16,330| |
China| 9.3| 8,390| |
Norway| 1.4| 61,460| |
Kenya| 4.4| 1,710| |
Israel| 4.7| 27,110| |
Data taken from worldbank.org(date accessed 10 march 2013

Through further inspection of the countries above using the economic indicators of GDP and GNI to draw comparisons. Compare to a fellow BRICS in China we see far greater economic growth and wealth in china. Two other choice for comparison, are other developing countries outside Africa (Chile, Israel) we again see far greater economic growth and a more equitable spread of wealth. In a developed first world comparison (Norway) we see a slower annual economic growth rate, but a far superior spread of wealth. 1.6

1. Eradicate extreme poverty and hunger
* Reduce by half the proportion of people whose income is less than $1 a day * Achieve full and productive employment and decent work for...
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