This paper analyses the economic growth in France and Indonesia over the period of 30 years whilst exploiting similarities and differences in data and theory of the two economies. Firstly the demographics of both France and Indonesia are analysed to introduce the two countries in a bit more depth to the reader. This will be followed by four key concepts, out of ten possibilities presented by Schramm (2011), carefully chosen to develop similarities and differences relative to economic growth between the two countries. Economic freedom between the two countries is compared to see whether this has had any impact on the economic growth within the two regions. The role of entrepreneurship will then be analysed to further develop the comparison and bring together more data. Furthermore technological progress is another key concept, which alongside the concept of investment opportunities presented in France and Indonesia.
Keywords: France, Indonesia, Entrepreneurship, Economic growth, Technological progress, investment, Economic freedom, Key concept
How Did Economic Growth Compare In France and Indonesia From 1980-2010 and To What Extent Do Technological Progress, Entrepreneurship, Investment and Economic Freedom Explain Any Differences Or Similarities In Economic Growth? In the past and present day there have been many economic researchers studying economic growth in a variety of different combinations of economies around the world. There is not only one way to analyse economic growth, however the gross domestic product is commonly adopted. Gdp, short for gross domestic product, is the total amount of goods and services produced by the country in one year. Gdp growth can occur most simply when the amount of goods and services a country produces is increased, or a growth in gdp could be the result of an increase in the prices of produce. Factors like an increase in the price of produce which lead to increasing the total amounts of goods and services available, is called an increase in real gdp. The concept of real gdp is widely used when analysing economic growth and prosperity within an economy. In this sense economic growth can be understood through the definition of real gdp. In relation, there are many different factors which economists have used to analyse economic growth within countries. In this paper four key concepts, taken from the ten key concepts presented by Schramm (2011), “rule of law (law and order), income distribution (income inequality), economic freedom, culture, specialisation, comparative advantage, innovation/technological progress, entrepreneurship, increasing returns to scale (internal and external), production function/production factors, investment” (p. 40), will be mentioned and analysed in this paper in relation to economic growth in France and Indonesia in the period from !980 to 2010, a period of thirty years: Economic freedom, technological progress, entrepreneurship and investment. The paper aims to be used for in-depth analyses of the four key concepts, however also could also be used by researchers as a source of scientific relevance and referenced information because of the specificity of the topics for the French and Indonesian economic growth over the thirty year period. The graphs created in the paper could also be useful as an extra data source to practitioners whilst developing further analyses amongst this topic. The problem statement will be answered in five chapters. To start the paper off, the first chapter will entail comparative statistical evidence of the economic growth in France and Indonesia from 1980-2010. This will be followed by the four key concepts in separate chapters whilst analysing the similarities and differences in the two economies.
Comparison between the French economy and the Indonesian economy from the period 1980-2010, with relation to economic growth
The French economy has been and still is one of the...
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