The economic stagnation during 1990s revived the interest in Keynesian ideas. By then, the formulation of macroeconomics had already became micro-founded, i.e. it was based on principles based in microeconomics. The new Keynesian economics is a modern school of though that combines Keynesean thinking with microeconomic foundations. New Keynesian models utilize price rigidities, market failures, asymmetric information and bounded rationality schemes to argue against the validity of classical dichotomy.
Introduction The East African country of Tanzania which was known as Tanganyika, formally gained its independence from great Britain on 9 December 1961, under the former president Mwalimu Julius K. Nyerere. Who made his support well known throughout the world. He felt socialism in Tanzania would bring about equal rights for all of Tanzania’s residence, and he saw his plan as a way for Tanzanians to become self-reliant. During the late 1960s, Tanzania was poverty stricken, lack of infrastructure and poor education systems, and Nyerere saw socialism as a way out for the country. Socialism is a range of economic and social systems characterized by social ownership and democratic control of the means of production; as well as the political ideologies,
Privatisation and Globalisation Privatisation refers to the participation of private entities in businesses and services and transfer of ownership from the public sector (or government) to the private sector as well. Globalisation stands for the consolidation of the various economies of the world. Pre-1991 liberalisation attempts Attempts were made to liberalise the economy in 1966 and 1985. The first attempt was reversed in 1967. The second major attempt was in 1985 by Prime Minister Rajiv Gandhi.
Nigeria did not recognise the population growth as a problem before 1980s, because the nation’s petroleum revenue generated from the crude oil market was still in the booming process. Nigeria began to see the increasing population as a problem only when oil price suddenly fell to US$11 per barrel in the 1980s (Mba, 2002). The fall in oil price acted as an eye opener to the government of Nigeria to the reality of population components and the need for a population policy. Before fall in oil price, there have been some global programmes that aimed at controlling births in the developing countries. Some of these programmes were the World Population Plan of Action (WPPA) of 1974, the Lagos Plan of Action (LPA) of April 1980, the Monrovian strategy, and the Kilimanjaro Programme of Action adopted by the African council of ministers in 1984.
During Derg-regime, on average annual GDP growth rate was 1.6 percent (real GDP per capita was -0.9%), while the average population growth was 2.5 percent, which indicates the growth rate in real GDP was far away from satisfactory points (Alemayehu, 2011). According to National Bank of Ethiopia (2013), in the period of 2003 to 2008 11.2 % real GDP of the country, places it one of the top economic performers of Sub Saharan Countries. This achievement of growth was well excessive when we compare it with 7% population growth rate demanded for attaining the MDG goal of reducing poverty by half by
Economy Laos lost nine-tenths of their currency's value against the US dollar in 1997 during the Asian currency crisis. A report from the Asian Development Bank states that even if absolute poverty incidence has halved, the distribution of private household expenditures has become more unequal in Laos. Because a large portion of the Lao population don't have the required education, skills, and experience for jobs outside the agriculture sector, foreign businesses who invest in the country usually bring their own foreign staff with them. This creates a deeper unemployment problem. Healthcare Approximately 44% of children suffer from stunted growth and 27% are severely underweight.
CHAPTER 2 : LITERATURE REVIEW 1. Extractive Industries in Global Context Non-renewable mineral resources play a dominant role in 81 countries, which collectively account for a quarter of world GDP, half of the world’s population and nearly 70% of those in extreme poverty . About 3.5 billion people live in countries rich in oil, gas or minerals, but all too often, these resources have turned out to be a cause of conflict rather than opportunity. Many of these countries also suffer from poverty, corruption and conflict stemming from weak governance. In some cases, resource wealth is connected with political disorder, declining standards of living, civil clash, and elite capture.
This, coupled with GOZ-sanctioned farm invasions, that grossly reduced production, has caused domestic production of the food staple maize to fall drastically over the past decade. Zimbabwe has a broad-based economy with three major productive sectors namely agriculture, mining and manufacturing (World Bank, 1999). Although accounting for only 18% of Zimbabwe’s gross domestic product (in 1996), the agricultural sector remains the backbone of the economy and society (World Bank, 1998). It provided income and employment for 75% of the population accounting for some 45% of the country’s merchandise exports and being the focus of a large share of the country's domestic trade and transport
Liberalized Indo-Pakistan trade in the agro sector would generate around 2.7 lakh jobs in India and 1.7 lakh jobs in Pakistan. Though restrictions on trade, policy impediments and an uncertain political situation have affected official trade, it is estimated that unofficial trade between India and Pakistan stands anywhere near $ 1 billion, which is five times the value of official trade ($ 200 million) between the two countries. Moreover, the actual value of unofficial or irregular trade may exceed $ 1 billion a year if supplies of Indian-made textiles machinery, spares and equipment and machine tools of Indian origin being used in Pakistan foundries but not directly imported from India are taken into
Although the incidence of poverty for Tanzania lies between 85% to 90% for 1.25/2 $ a day, according to their National poverty line the percentage of population under poverty is 34% only, but given the fact that these 1.25$ and 2$ are PPP adjusted reflects that the poverty in Tanzania is severe. 1990’s showed that rich Brazilians received 42% of the nation’s income and only 1.2% was received by the poor. This led to underdevelopment and poor standards of living. Even though this was the case, Brazil has a lower percentage of poverty. In 2003, the President Lula Silva launched programmes such as ‘Bosla Familia’ – cash transfer programme that gives money to the impoverished families under the condition that they keep their children vaccinated and in school.