Mid term assignment Example | Topics and Well Written Essays - 750 words

Mid term - Assignment Exampleis 1.3%, European Union 1%, Japan -0.4%, China 9.8%, India 6.6%, Ethiopia 8.5%. (C.I.A., 2009). As a general rule the LDCs tend to have higher average out rates of growth as compared to high income economies, which implies that eventually, such poor countries may equal the per capita incomes of wealthier countries, which in an stinting term is referred to as convergence.b. Technological innovation is almost certainly a key driver of long-term economic growth. However, developing economies require more than mere expert advancements, to soundly achieve economic circulate since economic growth, in the absence of proper and adequate manufacturing capabilities, along with the implementation of state of the art technological knowhow, no innovation can actually be expected. Moreover, there must be the existence of qualified resources that facilitate such innovation, which in turn drives economic growth, such as exceptionally high tonicity of human capital, an adequate level of educational system and accomplishment and technology, as well as effective implementation of institutional reforms across the country.c. The institutional reforms must be accompanied by advances in science and technology as well as nation wide political, and legal reform policies. Also, these countries must gear up optimum utilization of their natural resource base such as wind and solar energy, by taking into consideration the differences in its technological capacity and energy requirements. Furthermore, long term sustainable teaching can be guaranteed through partnerships with industrialized nations which enable LDCs to share and implement valuable information regarding policies to ensure growth and development.2. Vietnam has successfully managed to accomplish a noteworthy reduction in poverty in the novel years which further substantiates the belief that poverty could be concentrated considerably within a undertake time limit with the help of effectiv e market reform policies.