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Discuss the causes of economic development

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Reference no: EM13545003

Write a comparative analysis paper about these countries, discussing why these countries are different in their income levels and standards of living. You are expected to use information from reliable sources. The comparative analysis papers will be 7-double-spaced pages and will be evaluated for their substance and quality. You will be required to submit your papers to www.turnitin.com. The papers will be graded there.

Compare your countries in terms of: sizes of their economies, per capital RGDP's, RGDP growth rates, per capita RGDP growth rates, and inflation and unemployment rates for the last 10 years

Based on the above comparative information and based on what you learned in class, analyze these countries' macroeconomic differences (and similarities, if any). Explain why these countries have different sizes of RGDP, RGDP growth rates, per person RGDP growth rates, unemployment rates, inflation rates, poverty rates and so on. What helped (foreign aid, technological and productivity growth, education, population control, debt forgiveness) and/or hurt these countries? What kinds of government policies helped these countries and what kinds of government economic policies hurt them? Why did these countries' governments follow different policies? Did these countries' governments follow the IMF and World Bank's policy prescriptions?

Based on your analysis, discuss the causes of economic development in your high income and middle income countries, as well as the main hindrance for economic development in your low income country. What is lacking in the low income country in comparison to the other two countries? Why was your middle income country not able to become a high income country? Will it become a high income country? Are there some cultural and historical reasons behind differences among these countries?

Reference no: EM13545003

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