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Essay / Research Paper Abstract
An 8 page research paper that contrasts and compares the economic growth of countries in Asia to those in Latin America and Africa, specifically addressing why growth elsewhere in the world has not matched the performance of Asia economies. The writer argues that the blame lies primarily with government mismanagement, corruption and greed. Bibliography lists 7 sources.
Page Count:
8 pages (~225 words per page)
File: D0_khasafla.rtf
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Unformatted sample text from the term paper:
growth contrasts sharply with the slow growth experienced by numerous African and Latin American countries. Numerous explanations have been offered for the lack of growth in these two regions. Many
would lay the blame on the forces of globalization while others insist that the growth of democracy has inhibited these economies. While democracy, globalization and the lingering effects of colonialism
make ready targets for rationalizing failing economies, the statistical evidence points towards a different reason altogether, specifically the mismanagement and corruption of government in the worlds poorest nations. Asia,
like Africa and Latin America, has seen its share of busts as well as economic booms (Goldberg and Esbenshade, 2004). However, both China and India give every indication of not
only equaling the size of the US economy by mid-century, but overtaking the US as well, thereby shifting the worlds economic center of gravity to Asia (Sachs, 2004). China and
India both demonstrate that when a poor country is well managed politically and economically, they can achieve fast growth rates than the richer countries because they have the advantage of
importing the know-how of leading economics (Sachs, 2004). Similarly, Europe played this game of "technological catch-up" after World War II quite successfully. However, when a country is politically unstable
or mismanaged economically, such as was the case in Eastern Europe when it suffered under communist regimes, this process is frustrated by governmental interference (Sachs 2004). China and India, similarly,
failed to achieve economic growth during the first decades after World War II due to Maos communism and Nehrus socialism (Sachs, 2004). Both countries began to catch-up when economic policies
were liberalized and today those economies are soaring. Chinas aggregate GNP has grown by roughly 10 percent per year since the late 1970s and Indias has grown by
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