Please select 2 countries and investigate the relationshipbetween Financial Development and Economic Growth. Inthis project, you are expected to explain the followingissues:1- Why these 2 countries?2- What is the relationship between growth andfinancial development? (Hint: Financial Developmentcould be proxied by the Financial Development Index)While explaining what you found with data, you areexpected to support your findings with at least 3 studiesin the literature.You are limited to a maximum 3 pages.

The objective of this question is to investigate the relationship between financial development and…

Answered: Please select 2 countries and…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 5P

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What do the growth accounting studies conclude are the determinants of growth? Which is more important, the determinants or how they am combined?
The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries were able to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?
The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries failed to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?
The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. Why have some countries reduced the gap between their incomes andthat of the United States and other countries failed to do so?
Suppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP r capita be in 70 years? S Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year) If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year)
estion 30 A country with neither population growth nor technological progress is nitaly in the golden-rule steady state. Carefuly ilustrate this situation using a graph with output per worker, investment per worker, and depreciation per worker on the vertical axis and capital per worker on the horizontal axis. Now suppose climate change increases the depreciation rate. If the country adjusts its saving rate to reach the new golden- rule steady state, is it possible to determine how output per worker and consumption per worker in the new steady state compare to their levels in the initial steady state? Explain.
e ncia.wwnorton.com b. Per capita real GDP doubled in South Korea again in only seven years, reaching $1600.00 by 1988.00. What was the average annual economic growth rate between 1981 and 1988.00? (NOTE: Round this to two places past the decimal point.) % 4th attempt 3rd attempt Okay Elizabeth 4 8 Q W E Y U P @ 23 & return A F G H J K % ! V N M .?123 .?123
Canadian real GDP per capita is 50,097 (measured in constant 2017 USD, same for thefollowing numbers) in the year 2019 and 40,489 in the year 1999. Canadian real capital stockper capita is 226,225 in the year 2019 and 155,256 in 1999. Calculate the growth rate of GDPper capita in Canada for these two decades, as well as the contribution from productivitygrowth and that from capital accumulation. You can use a capital share α of 1/3.
Orthodox or conventionaleconomists say that to address unequal growth between the rich and the poor, the world economy needs to grow Do you agree with this idea? Why or why not? Whatdoes the term “de-develop” mean? Is it a positive or a negative idea? Explain your According to investopdia.com,a steady-state economy is an economy structured to balance growth with environmental integrity, seeking to find an equilibrium between production growth and population growth. This type of economy aims for the efficient use of natural resources but also seeks a fair distribution of the wealth generated from the development of those resources. Is this type of economy more plausible than continued, unlimited economic growth? Why or why not? How can humanity possibly find a balance between economic growth and social justice?
What is the best way to measure the rate of economics growth? a. By the annual percentage change in nominal GDP O b. By the annual percentage change in nominal GDP per capita O c. O d. By the annual percentage change in real GDP By the annual percentage change in real GNP per capita Oe. None of the above
120 100F NOR ARE SGP CHE HKG SWE TWN Na. A VEN 40 60 80 100 120 Relatiwe GDP per enpita to the US lewel - 1970 In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in the horizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct? O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US in each year. O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of the US in each year. O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and 20 O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.
15. Suppese that in 1960 Japan had an initial per capita GDP of $12.000 per year and China had a per capita GOP of 55.000. But China is grewing at 5 percent per year and iapan is growing at 3 percent per year. ia richer in 2010 with a per capita GDP of eporoni mately a lapan $5.000 a. China: $73,500 a. lapen: $31,500 . Not enough information is given. e China $5,000

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