from USC. %%EOF In such a case, achieving becomes difficult. The quality and quantity of available human resource can directly affect the growth of an economy. > Scribd will begin operating the SlideShare business on December 1, 2020 A higher return on investment will attract investors. Despite directly affecting businesses, these variables refer to financial state of the economy on a greater level — whether that be local or global. For example, a society with conventional beliefs and superstitions resists the adoption of modern ways of living. Productivity will be determined by technology, levels of investment in new technology and the skills of the labour force. This can lead to increased political and social turmoil, which often accompany boom or bust economic cycles. 0000001728 00000 n In other words, as a country’s population increases, so too does its economy, generally speaking. It implies sustained expansion in effective labour force, In 1981, this negative economic growth was due to: In the mid-1980s, the high economic growth was caused by. May I know how effectively i can write a topic on economic growth? About | The book on long run economic growth needs to be rewritten. Many theoretical and empirical analyses of economic growth attribute a major role to a country's level of human capital, defined as the skills of the population or the work force. The only way to achieve economic growth in an energy constrained environment is to increase efficiency and productivity throughout the entire economy by a minimum of 2% per year. 0000004488 00000 n 0000062354 00000 n If you continue browsing the site, you agree to the use of cookies on this website. ⇒ www.HelpWriting.net ⇐, Follow the link, new dating source: ❤❤❤ http://bit.ly/2F7hN3u ❤❤❤, Sex in your area is here: ♥♥♥ http://bit.ly/2F7hN3u ♥♥♥, science technology innovation policy 2013 ppt (STI), No public clipboards found for this slide, Economic growth & factors affecting economic growth, Information Technology Team Leader at Adama Science and Technology University. If this cycle repeats over time, the country may find itself in a recession. Clipping is a handy way to collect important slides you want to go back to later. Yet economic growth, particularly the kind that’s unchecked or unstable, comes with a price tag, which can include higher environmental costs or a spike in income inequality. The selection of right technology also plays an role for the growth of an economy. She holds a B.A. services produced by an economy over time. 0000062149 00000 n Now customize the name of a clipboard to store your clips. Major Themes in Economics, 17, 37-54. Lead Research Economist, Development Research Department, African Development Bank, BP 323, 1002 Tunis Belvedere, Tunis, Tunisia; e‐mail: j.anyanwu@afdb.org. Social factors involve customs, traditions, values and beliefs, which contribute to the growth of an economy to a considerable extent. endstream endobj 34 0 obj<> endobj 36 0 obj<> endobj 37 0 obj<>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 38 0 obj<> endobj 39 0 obj<> endobj 40 0 obj<> endobj 41 0 obj<> endobj 42 0 obj<> endobj 43 0 obj<> endobj 44 0 obj<> endobj 45 0 obj<>stream The natural resources of a country depend on the climatic and environmental conditions. China’s government is facing the necessity of instituting delicate economic reforms. Factors Affecting Economic GrowthIt is highly recommended that you review the Seminar presentation located in the Seminar area before beginning the Discussion.There are a number of economic and non-economic factors that affect long-run economic growth of countries. 0000003609 00000 n Involves land, building, machinery, power, transportation, and medium of communication.