Concepts and Theories of Economic Development

Top PDF Concepts and Theories of Economic Development:

Concepts, theories, and approaches to management practices for sustainable businesses

Concepts, theories, and approaches to management practices for sustainable businesses

Barmet (2004) in his article Are Globalization and Sustainability Compatible documents and reviews two books named, (1) Walking the Talk and a Better World Is Possible and (2) Alternatives to People’s Eco-globalization. The former book sees globalization as the market place and the best path toward sustainable human progress. The book has two parts: The first part says there are ten building blocks for sustainable development. Business, government and citizens can cooperate in creating a market that maximizes opportunity for all (p. 523). Eco-efficiency produces more goods (value added) with less resources, waste and pollution. Here the overarching question is whether a profit can be made for corporate sustainability because the first building block is the free market. However, policy and regulatory architecture of business practice need to be overhauled and streamlined in the free market because most policies and regulations are awkward hybrid tools that do not serve sustainability. Therefore, Barmet (2004) suggests for four business practice aspects like: dematerialization, closed-loop production, service extension and functional extension can decompose eco-efficiency. However, here Barmet’s sustainability approach missing point is the social justice issue. Moreover, he thinks corporate social responsibility (CSR) is the commitment of businesses to contribute sustainable economic development and to improve their quality of life.
Show more

24 Read more

The evolution and development of African management theories and colonialism: an exploration

The evolution and development of African management theories and colonialism: an exploration

One of the most important activities of human beings is management. Imagine an army with no commander, a team with no coach, or a nation without a government. This can be likened to the proverbial “sheep without shepherd”. The ultimate end of such situations is failure. Therefore, as long as there are economic activities and human endeavors, there must be procedures, people and system to take charge, to plan, organize, staff and control the work. According to Weihrich and Koontz (1983), management is the process of designing and maintaining selected aims. Management is a core area of human responsibility and as a process drives economic development and activities. It is as old as human civilization or history. Most of management theories have military origins, probably because efficiency and effectiveness are essential for success in warfare. The concepts of unity of command, line of command, staff advisors, and division of work can be traced back at least to Alexander the Great, or even earlier, to Lao Tzu. However, the industrial Revolution has created a need for new thinking and the refinement of old thinking in terms of management principles and practices. Management theories can also be said to have roots in antiquity. However, modern theories have evolved in response to increase in the complexity of the work environment resulting from the industrial revolution, the growth in high technology, and the development of global transportation and communication systems. African has existed for several decades and has her own unique ways and her distinct cultures which have for long
Show more

5 Read more

Spatial Planning for Socio-Economic Development

Spatial Planning for Socio-Economic Development

In the socio-economic planning process, the understanding of the interrelationships underlying the two types of landscape above described is essential. Each regional context is characterized by particularities of history, by attitudes, beliefs and values, political and legal traditions different socio-economic patterns and concept of justice, interpretation of planning tasks and responsibilities and different structures of governance, in other terms: by its specific characteristics. In spatial planning, physical and social features like topography, drainage, climate, population settlements etc. are significant elements. They are interlinked and interdependent in such a way that they affect each other. So, change in any single element brings change in whole pattern of the region. This present review article attempts the analysis of different aspects of development in the region for its socio-economic development. It explains the concepts of space, region and planning and focuses on need of planning and types of planning locational theories of planning. The ideas of the present paper may be useful in generation of a platform for better spatial planning to bring improvement in social well- being of the people living in this region.
Show more

7 Read more

The origins of economic inequality between nations: An historical synthesis of Western theories on development and underdevelopment

The origins of economic inequality between nations: An historical synthesis of Western theories on development and underdevelopment

legitimate to ask whether or not poverty breeds inequality.” He surfaced with three concepts which explained for him in part the causes of the observed deterioration: environmental influence, cultural determinism, and the "soft state". The last two put him smack in the middle of an important Western intellectual stream. Cultural determinism was exemplified by religion, which, on the popular level, was "a ritualized and stratified complex of highly emotional beliefs and valuations that regularly give the sanction of sacredness, taboo, and immutability to inherited institutional arrangements, modes of living and attitudes...acts as a tremendous force for social inertia." The "soft state" was a crucial derivation from this psycho-cultural complex. Within it there was neither solidarity nor social discipline. Western juridical principles and practices were foreign or incompatible with it. But above all it was arbitrary and corrupt. And Myrdal mentioned the irony of Third World corruption: "On one hand it had proved difficult [in backward countries] to allow and encourage the operation of rational motivations with profitable ends in the social sector where these motivations function in developed countries, which is the area of private business; while on the other hand it has been seen to be equally arduous to eliminate the search for personal gain in that sector where it has been extirpated in the West, which is that of political power and public administration." Myrdal cited the case of Indonesia where corruption was reputedly absent during Dutch colonial rule but had picked up dramatically after independence. By some recondite means, climate was the ultimate cause of social and economic backwardness, but the immediate determinant influences were "reformable" social practices. The offshoot seemed to be that more could be done about underdevelopment from within than by changing the structures of international c o m m e r c e . 1^4 shall refer
Show more

502 Read more

Towards a theoretical link between EU widening and deepening

Towards a theoretical link between EU widening and deepening

This scenario offers another theoretical link between the initial guiding concepts. Following the logics of several theories and approaches (notably (neo-)functionalist logics, liberal intergovernmentalism, constructivism, constitutionalisation, politicisation and political economy), the interrelation of EU deepening and widening leads to a re-invented and transformed Union. So, the construction of the EU-27 re-invents and transforms the EU as well as the views and ideas about European integration. A push and pull process follows with key drivers and forces in a changed and changing EU environment, with an expanded and expanding list of tasks, with modifications of the ‘legal constitution’ of the institutional architecture – resulting in a new kind of polity in which political actors of different origin and background join forces to construct the new ‘European ball-game’. This new kind of polity constitutes a new framework of EU decision-making in which all member states become new member states in terms of starting conditions. Understandings and perceptions, thus, have to be adapted or even newly created. So, this theoretical link suggests a fresh outlook on the EU’s future. It would explain that a new kind of European polity emerges after the last EU widening. Depending on the basic principles and character of this new polity, democratic life would either be attributed an essential role (e.g. in the foundation of a ‘European federal state’) or excluded (e.g. in the reduction of the EU to a great European Free Trade Area). Economic and social policies as well as aspects of external and internal security are either integrated into a deepened and widened political EU or reduced to few, functionally limited tasks. Especially based on neo-functionalism, the development of the EU can be explained pointing at its enormous capacity for systems transformation and change, meaning that the EU had gone through periods of substantial institutional and political change which may, although they each proceeded in an incremental (path-dependent) way, have added up to a ‘transformative’ change.
Show more

20 Read more

Using Grounded Word Representations to Study Theories of Lexical Concepts

Using Grounded Word Representations to Study Theories of Lexical Concepts

It is not obvious, however, how one should chose to represent concepts computationally, es- pecially given that current state-of-the-art neural models of grounded language can be seen as com- patible with a number of theories for concepts, de- pending on how the architectures and algorithms are constructed. Thus, in this paper, we focus in particular on lexical concepts, and study two prominent theories which have both wide support– as well as substantial criticism–within the psy- chology and philosophy communities (Laurence and Margolis, 1999). The first, Classical Theory, represents concepts as the set of necessary-and- sufficient conditions which define the extension of the concept. For example, the representation of owl is the set of conditions such that, if and only if some entity meets every condition, that entity is an owl. Classical Theory is the most frequently cited in linguistics and NLP– it is the theory underlying traditional formal semantics–and is often formal- ized in terms of set theory, i.e. the extension of “owl” is the set of all owls. The second theory we explore is Prototype Theory, which represents concepts as a single, prototypical instance of that concept. For example, the representation of owl would be a particular instance of owl that captures the most characteristic, salient, typical, or other- wise important properties associated with owls. The degree to which some entity falls within the extension of owl is then a function of how “sim- ilar” that entity is to the prototype of owl. Thus, unlike Classical Theory, there is no clear notion of what is required in order to be an owl, and an entity may be judged to be an owl on the basis of “resemblance” despite having few definable prop- erties in common with the prototype.
Show more

10 Read more

Integration theories and economic development: A case study of the political and social dynamics of ECOWAS

Integration theories and economic development: A case study of the political and social dynamics of ECOWAS

Even though export diversification and price stabilisation methods being used as a way of overcoming the difficulties and uncertainties posed by exporting primaries, many in the developing countries feel that the best way to move forward is by industrialising. This would the advantage o f restructuring their economies and therefore tackle the fundamental problem o f dependence on primary exports. A policy of industrial development does not imply an entire shift from agricultural production to industrial production. Indeed it need not be zero-sum. The continuing exportation o f primaries is necessary to provide income and provide employment as industrialisation proceeds. Industrialisation is expected to help overcome the over dependence on the exportation o f a limited range o f export products. It is also expected to enable the developing countries to overcome the difficulties o f primary producers not being able to respond to changing demand conditions. Because the ability to reallocate national resources in response to international exchange opportunities and to new technological possibilities is necessary for competitive advantage, this would imply that developing countries, including those in West Africa cannot fully exploit the advantages o f international trade. This is because o f the rigid supply and demand
Show more

407 Read more

Economic Concepts of Organic Certification

Economic Concepts of Organic Certification

According to the economics of crime, opportunistic individuals decide between complying with a law or not based on rational considerations by comparing the total pay-off of the two alternatives (Eide 2000). The fundamental relevance of these theoretical considerations for the organic control systems derives from Council Regulation (EC) No 834/2007, Art. 27: this article requires that “nature and frequency of the controls shall be determined on the basis of an assessment of the risk of occurrence of irregularities and infringements as regards compliance with the requirements laid down in this Regulation.” This means, that the Regulation requires that the control body considers the risk of an operator committing fraud, when determining the number and kind of controls (risk based control). Based on economic theory, the main influencing factors whether an opportunistic individual will commit organic fraud or not is illustrated in this chapter. The asymmetric information between buyer and seller obviously increases the propensity to opportunism. Therefore, there is a fundamental possibility for fraud connected to the marketing of organic food products. This assumption does not mean that fraud is omnipresent among organic farmers and producers. It rather refers to certain risks, which are constrained by formal and informal rules (institutions), that structure and order economic actions. Examples of fraud can be mislabelling of conventional as organic food (including commingling) in order to obtain the organic price premium (Gesellschaft für Ressourcenschutz (GfRS) 2003) or using forbidden inputs (e.g. pesticides, fertilisers, additives) during the production process, in order to reduce costs and / or to increase the yield.
Show more

51 Read more

The Principal of Risk and Profit Sharing in Islamic Banking

The Principal of Risk and Profit Sharing in Islamic Banking

The role of banking that is very strategic in achieving Indonesia's economic development goals recently, requires a careful study of banking concepts that have been operationalized, both conceptually and their applications, so as to create a strong banking system in the era of globalization in the future. The existence of Islamic banks in Indonesia has not been fully accepted, there are still some people who equate with conventional banks. Based on the background of the problem above, which is the identification of the problem in this paper, namely: 1) What is the application of the principle of sharing the results and risks in fundraising activities in Islamic banking? 2) What are the operational constraints faced in implementing profit sharing and risk principles in Islamic Banking?. Based on the discussion above, conclusions can be drawn, as follows: 1) The implementation of fundraising using the profit sharing principle in Islamic Banking is carried out using the principles of Wadiah and Mudharabah. The Wadiah principle uses the Wadiah Current Account using products such as: Singapore BSM Dollar Current Account, BSM Current Account, BSM Currency Current Account, BSM Ouro Current Account, Bank Muamalat Wadiah Deposit Account in Rupiah and Foreign Currency, personal and corporate, and Wadiah Savings Account using products like: Junior Community Savings which is a special savings for students, Simpatik Savings, BSM Dollar Savings. While the mudharabah principle uses the Tabungan Mudharabah contract using products such as: Mudharabah Savings Accounts are Hajj Savings, Investa Scholar Savings, Qurban Savings and Savings Cards and time deposits for mudharabah use products such as: Bank Syariah Mandiri Savings, BSM Foreign Currency Deposits and Mudharabah deposits. In calculating profit sharing only in Mudharabah principles, the wadiah principle is only a bonus given to the bank's willingness. The pattern of calculation for results is to use the principle of profit sharing, which means that the results are calculated from the total income of the fund management and the amount of profit sharing depends on the initial agreement, 2) There are a number of operational constraints faced by Sharia Banking in financing Financing Results such as limited human resources, Islamic Banking management, limited Office Networks, and still weak government regulations on Islamic Banking.
Show more

19 Read more

Concepts of Fitness and Wellness

Concepts of Fitness and Wellness

Most text appearing on the NICHD website has been either prepared by employees of the U.S. government as part of their official duties or prepared under contracts for NICHD. In both instances, the text is in the public domain and not subject to copyright. The same is true of most publications available for downloading from this website. You may freely copy that material and credit NICHD with the following notation: "Courtesy: Eunice Kennedy Shriver National Institute of Child Health and Human Development." Occasionally, the NICHD site may contain documents or links to documents, such as full- text journal articles, that are copyright-protected. Web users may view and print these documents but should contact the copyright owner for any other uses.
Show more

142 Read more

An application of economic theories and concepts to water management in New Zealand

An application of economic theories and concepts to water management in New Zealand

New Zealand water management agencies have used pricing policies. as a means of water pollution control.[r]

126 Read more

Logistic foundations of sustainable socio economic development of the region in the context of decentralization

Logistic foundations of sustainable socio economic development of the region in the context of decentralization

Logistization of economic relationships on UTC level allows community to ensure better decision making of key tasks of regional management such as creation of optimal strategy to manage structural offers and material flows of social production; optimization of material, financial and informational flows of the region. The execution of mechanisms of logistic management predetermines the need in creation of logistic system of UTC. Management of flow processes of resource usage is done on all stages of formation and operation of matter-energy flow, from provision of raw material resources till waste utilization. Thus, logistic system of UTC should comprise companies from production and service spheres, infrastructure objects, organizations and institutions interconnected in a process of decision making regarding the directions and ways of implementation of elements of resource flow. The logistic system of UTC should also have a system of provision of information. The logistic system of UTC is an organization mechanism of coordination of functions of resource flow management with certain characteristics that transpire in goal instructions, objects and tools of management (Fig.2).
Show more

6 Read more

Exploring the use of spatial concepts in the planning and development of the North West of England

Exploring the use of spatial concepts in the planning and development of the North West of England

As a result, the state’s role in the post-Fordist regime of accumulation is heavily associated with neo- liberal ideology and the ‘rolling back’ of the state, where state action is confined to deregulation, privatisation of collective needs and social security, direct state intervention in markets through procurement , the ‘entrepreneurial’ state and efforts at state-led innovation (Pike et al, 2006, adapted from Harvey, 1989), frequently in a campaign of ‘competitive austerity’ whose aim is to outbid rival places in attracting and retaining investment and skills (Albo, 1994). Such measures represent attempts to create sufficient conditions for growth, using sectoral and other non-spatially targeted policies to allow economic activity to come into being ‘on its own terms’. While for some states the decline of Keynesian intervention and the tailoring of regulation to enable business to increase its productivity levels was a necessary response to globalisation, for others the ceding of economic power to markets and corporations was seen as optimally efficient (Martin and Sunley, 1997). In either case, the role of the state in dictating the geography of development under post- Fordism is much diminished, and a division between wealthy and lagging regions is a characteristic of most European countries, even those that were not heavily industrialised in the first place, such as Ireland and Spain, as the productive industries of the late twentieth century exhibit a tendency to cluster and agglomerate in space.
Show more

270 Read more

Current concepts of blood brain barrier development

Current concepts of blood brain barrier development

ABSTRACT Homeostasis of the central nervous system (CNS) microenvironment is essential for its normal function and is maintained by the blood-brain barrier (BBB). The BBB proper is made up of endothelial cells (ECs) interconnected by tight junctions (TJs) that reveal a unique morphology and biochemical composition of the body’s vasculature. In this article, we focus on developmental aspects of the BBB and describe morphological as well as molecular special features of the neuro- vascular unit (NVU) involved in barrier induction. Recently, we and others identified the Wnt/b- catenin pathway as crucial for brain angiogenesis, TJ and BBB formation. Based on these findings we discuss other pathways and molecular interactions for BBB establishment and maintenance. At the morphological level, our concept favors a major role for polarized astrocytes (ACs) therein. Orthogonal arrays of particles (OAPs) that are the morphological correlate of the water channel protein aquaporin-4 (AQP4) are specifically formed in the membrane of the AC endfoot. The po- larized AC endfoot and hence OAPs are dependent on agrin and dystroglycan, of which agrin is a developmentally regulated extracellular matrix (ECM) component. Understanding the mechanisms leading to BBB development will be key to the understanding of barrier maintenance that is crucial for, but frequently disturbed, in the diseased adult brain.
Show more

11 Read more

Citations, Citation Indicators, and Research Quality: An Overview of Basic Concepts and Theories

Citations, Citation Indicators, and Research Quality: An Overview of Basic Concepts and Theories

Broadly speaking, while extensive discussions appeared during the 1970s and 1980s on what citations actually “mea- sure” and how citations relate to scientific quality (see, for example, Cronin, 1984), this issue seems to have received less attention in recent decades. Nowadays, it is often taken for granted that citations in some way measure scientific impact, one of the constituents of the concept of scientific quality. More attention has been paid to methodological issues such as appropriate methods for normalizing absolute citation counts (Waltman, van Eck, van Leeuwen, Visser, & van Raan, 2011b), in addition to development and examina- tions of new citation-based indicators such as the h-index (Bornmann & Daniel, 2007; Waltman, 2016). Although the latter development has contributed to important progress in the field, the limitations of citations discussed in the 1970s and 1980s did not disappear. In the scientific paper, the refer- ences have various purposes. Authors are not including refer- ences merely because of their scientific quality. The selection of references is determined by various factors, one being their relevance for the research topic being addressed (Bornmann & Daniel, 2008). These limitations cannot be overcome by the construction of technically more sophisti- cated or reliable indicators.
Show more

17 Read more

High-potential concepts, phenomena, and theories for the advancement of international entrepreneurship research

High-potential concepts, phenomena, and theories for the advancement of international entrepreneurship research

There are tensions between the need for a field to be distinctive, with its own approaches and methods that over time are proven consistent and robust; and the need to be open to contributions and challenges from complementary and competing explanations, as well as new and interesting problems from the real world. Kuhn (1996) suggests two requisites for the development of a new and sustainable field. These are that its initial paradigmatic approach is sufficiently unprecedented to attract people away from competing lines of inquiry and sufficiently open-ended to leave all sorts of problems for them to resolve. Recognizing this, Coviello et al., (2011: 629) concluded the introduction to their forum by making an appeal for new insights and new entrants to the field from other disciplines to enrich our understanding of the complex phenomenon tha IE This was the motivation and purpose for this special issue in Entrepreneurship Theory and Practice in which we invited established researchers to consider and write about IE from their own or new or alternative perspectives.
Show more

15 Read more

Theories of Governance and Development: How Does India’s Experience Fit?

Theories of Governance and Development: How Does India’s Experience Fit?

acknowledge the point made at the end of the last section, one that has been made by many, and one which does not accord with an emphasis on the embedded autonomy of elite bureaucrats: India’s state capacity tapers off dramatically outside a narrow, centralized elite. Second, they highlight another common observation, that India failed to be sufficiently inclusive in its initial development strategy, whether it was effective broad-based investments in health and education, failure to reallocate productive assets such as land, or fostering access to financial capital for those entrepreneurs who could generate jobs for the masses. Third, they argue that India’s size and heterogeneity make it difficult to achieve the right kind of embedded autonomy – there are too many different kinds of interests to be balanced. This is, of course, reminiscent of Bardhan’s political economy analysis. Fourth, they draw attention to the problems of governance at the subnational level, particularly the local level, where effective democracy was absent for decades, and still lacks adequate funding, even after the creation of formal democratic structures through constitutional amendments.
Show more

23 Read more

Economic Theories of Foreign Trade Transactions

Economic Theories of Foreign Trade Transactions

Rejecting the conclusions of certain claims with generality character of the theory of comparative costs may not lead to ignoring the merits of this theory. Thus, it fulfills a specific progressive role in the liquidation of mercantile residues, in expanding the international trade links, with major implications in the development of productive forces of society.

10 Read more

Regional Disparity and Dynamic Development of China: a Multidimensional Index

Regional Disparity and Dynamic Development of China: a Multidimensional Index

The aggregation of various indicators covering diverse socio - economic realms into a single index has been identified as a very promising solution. Parametric approaches to aggregate indicator have been widely accepted as the most suitable ways to define the weights for the indicators entering a composite index. One of the most common methodologies is the Principal Component Analysis (PCA). It is a data reduction method introduced by Hotelling (1933) that allows identifying few unobservable factors that account for most of the variability in an underlying large set of indicators. This method is frequently applied to integrate different indicators or sub-indexes, since it permits a relatively easier selection of the sub - set of components of interest (Mazzocchi, 2008) and serves a simpler application without assumptions attached to the original data (Chen and Woo, 2010). There will be a long list if we numerate the literature using PCA to aggregate a composite index or a multidimensional measurement. Dreher (2006) and Heshmati (2006), for example, applied PCA to estimate the weights of sub-indexes of a composite globalization index. Chen and Woo (2010) used PCA to obtain a composite index of economic integration in the Asia-Pacific region. The premise to run a PCA is to use the original variables that are highly correlated, and to identify a reduced number of uncorrelated linear combinations from these initial correlated variables. It also requires to subtract the mean from each of the data dimensions to run the PCA properly 20 (Smith, 2002). The key of PCA is to maximize the variability explained by the
Show more

24 Read more

World Bank and Keynesian Economics

World Bank and Keynesian Economics

Abstract: The World Bank is an international development and financial institution, which was founded with the name of International Reconstruction and Development Bank and based within the United Nations, offers customized resources, development prescriptions, consultancies and loans to countries in various parts of the world. The largest part of the World Bank group is the World Bank which is the largest organization working on private sector initiatives and projects in developing countries; providing technical assistance and development proposals to businesses and governments. The adopted development approaches of this organization and its policy prescriptions to countries have evolved parallel to the periodic charecteristics of capitalism and the change in the economic theory corresponding to these periods since its foundation. It is possible to state that, roughly in the first 30 years, the Keynesian economic policies has affected development discourse and policies of the Bank. However, in the mid-1970s the Keynesian impulse went into reverse and replaced by neoliberalism under the effects of Vietnam War and the OPEC oil price shocks. After that, neoliberalism was on the stage until the 2008 financial crisis started in America and brought the whole world under its impact. This crisis has led the bank to change rhetoric and adopt Keynesian development policies. The main objective of this study sheds light on what Keynesian economics is, its main aims Keynesian development period of the World Bank and its reflections on Bank’s development policies.
Show more

18 Read more

Show all 10000 documents...