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Economic growth in the Asia Pacific
Economic growth in the Asia Pacific
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How technological capabilities been the main drivers of economic growthin the Asia Pacific and how they explain major differences in nationalcompetitiveness within the region.
The growth in economy in developed countries in the past ten decades has passed through the stages of factor accumulation, intensive management, and knowledge including technology innovations (Fan, 2009). In particular, Fan 2009 emphasize that technological innovation has promoted a leapfrog approach to development and economic growth. Technological and scientific innovations in Asia Pacific and other regions are essential components of various countries’ national policies they employ to improve their capabilities and encourage strong competitiveness advantages. In Asia Pacific, the last twenty centuries have been characterized by increased innovation. An example is seen where the technology and science contribution rates have risen to nearly 70% and GDP have risen to over 2%. In addition, the extent to which economic growth depends on the external technologies has risen to above 30% in Asia Pacific. Additionally, the joint quantity of patents entails nearly 99% of the regional and global economic growths.
Although the principle forces behind technological innovations are enterprises, it is as well a joint understanding by the Asia Pacific government and enterprises. The governments in most countries tend to play strong guiding functions in producing, disseminating, and applying scientific and technological knowledge (Haddad and Shepherd, 2011). Public policies in Asia Pacific, together with preferential treatments of tax, are employed to enhance inputs into science and technology and increase various innovations leading to economic growth.
In the past few years, countries in Asia for instance China have made good progress in scientific and technological innovations (Fan, 2009). However, majority of the countries in the region still lags various advanced nations considering the overall development in science and technology. This is following the reduced levels of original and integrated innovations at the local levels, inefficiency in policies of technologies exchange in the market, and weak original innovation capabilities in various Asia Pacific countries (Haddad and Shepherd, 2011). Even though technologies have boosted the economic growth in various Asian countries, there are various problems affecting their growth competiveness and also hindering the sustained growth of its economy.
Considering the bigger gaps in innovation levels in various Asian countries, the region faces various challenges in their economic and social developments. According to Fan 2009, in the past decades, tax-related policies played an essential function in enhancing innovation. It has been observed that new issues have to be considered with regard to economic growth to meet the changing economic environments in the region. To maintain the enhanced fierce international competition, countries in the region for instance China need to increase their competiveness through self-owned intellectual property rights and optimization of their industrial structures (Haddad and Shepherd, 2011). Scientific and technological developments are essential in sustaining China’s economic growth and increasing the efficiency of resource consumption. Public science and technology are also essential for national security, social stability, and development of majority of countries’ local regions.
Based on the contributions of science and technology in the Asian area, as stated by Fan 2009, it can be concluded that they have contributed to the region’s economic growths in the past years as reported by some surveys in the recent past. To make the economic growth more sustainable, policies related to tax that support scientific and ethnological innovations should be take into great consideration (Haddad and Shepherd, 2011).
How finance and banking systems shaped business organization andeconomic growth in the Asia Pacific region.
With the economic literature, past researches have focused on the actual effects of finance and banking systems shaped business organization and economic growth on various countries. Among the researches have focused on determining how banks affect economic growth of various countries including British and China. As Chinese banks have been said to have been actively involved in financing and conducting their customer’s businesses, British banks have been blamed for their reluctance to commit themselves to their customer (Stallings, 2006). They have also been blamed for their obsessions with liquidity and security in the process of lending. Form this argument, it is appropriate to impute the success of China (in Asian region) to its active universal banks.
According to Stallings 2006, a growing number of authors argue that banks are among the most importance determinants of economic growth, and several claim to have found evidence that institutions trump all other factors. Stallings 2006 argue that even though cultural and geographical factors may also influence economic growth, difference in economic institutions and banks are the major sources of cross-country differences in economic growth and prosperity. A significant aspect of the debate is how banks in Asian region affect potential reverse causality. That is, whether better banks in Asian region lead to increased economic growth and income. It is also important to determine whether increased incomes bring about improved banking institutions. Using new empirical techniques, Stallings 2006 confirms that there is a strong positive connection between banking institutions and economic growth. As one move from economic growth in general to the role of the financial sector in particular. The focus is on the positive influence of high-quality banking institutions on both the depth of the banking sector and the development of capital markets (Stallings, 2006). The two are said to promote economic growth in Asia Pacific region and other regions.
Stallings 2006 argue that research has proved that in countries where strong corporate governance practices prevail, minority shareholders are protected and highly liquid capital market emerge strengthening economic growth. In most countries with poor regulation laws, legal traditions and weak regulatory systems are controlled by dominant investors rather than a widely dispersed ownership structure. Hence, according to Fernando 2011, countries that need fund from foreign and domestic investor need to adopt corporate governance practices, a practice that is common in most Asian countries.
Many economics and management experts argue that competition both in product marketing and banking, especially for capital, prevents unacceptable corporate behavior and promotes good corporate governance (Fernando, 2011). In most undeveloped countries where barrier are many, competition among the banking institutions is quite limited. This empathizes the significance of adopting the best possible corporate governance systems in developing emerging economic where market system is weak or yet to take proper shape in Asia Pacific region and other regions (Fernando 2011). References
Fan, Q., 2009. Innovation for development and the role of government: a perspective from the East Asia and Pacific region. Publisher World Bank Publications.
Fernando, A., 2011. Business Environment. Publisher Pearson Education India.
Haddad, M., and Shepherd B., 2011. Managing Openness: Trade and Outward-oriented Growth After the Crisis. World Bank Publications.
Stallings, B., 2006. Finance for development: Latin America in comparative perspective. Publisher Brookings Institution Press.
Healthcare regulations
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Healthcare regulations
1-How Healthcare regulations affect Healthcare organizations
Different countries through their legislative systems regularly enact different laws that govern the conduct of all the health care organizations. International bodies like the World Health Organization also set standards to be observed by healthcare establishments. These laws are enacted after a research done by healthcare professions in different fields. All the healthcare organizations both public and those owned by private proprietors are expected to adhere strictly to the compliance of these regulations. Regulatory bodies are formed by the governments and tasked with the role of ensuring compliance and providing guidance. These sets of regulations affect the conduct and the activities of the different healthcare establishments.
Various aspects of healthcare organizations are affected by the regulations. Some of the regulations affect the healthcare facilities relationship with the patient. They dictate all the dos and don’ts in the physician’s relationship with the patient. This includes a set of ethical standards of which medical practitioners are obliged to meet. The patient’s privacy is highly protected by these enactments (American Medical Association, 2013). The regulations also affect the pricing of the healthcare services in the different organizations. This ensures that the services are affordable. The regulations also affect the situation of healthcare facilities especially for the private practitioners. This is to ensure a health competition among different healthcare organizations. Therefore, the regulations enacted can be said to affect the comportment in all aspects of the healthcare organizations.
2-The role and impact of government regulatory agencies on health care delivery
Role of regulatory agencies
In order to achieve regulation of the healthcare industry, the government creates agencies that implement its healthcare policies in the expansive industry. These agencies are made to regulate; the healthcare practitioners, healthcare financiers and the manufacturers of different healthcare products like pharmaceuticals. The regulation agencies have a role in scrutinizing the different and numerous activities undergoing in the health care industry. The health sector is one of the most integral sectors and hence calls for special handling with an aim of fostering a healthy nation and population. The agencies are also charged with ensuring that the services offered in the health industry are of high quality. They also regulate the competition in the industry to ensure it is healthy and it promotes quality. The bodies also oversee the national licensures which are aimed at regulating the industry.
Impact of the regulations on health care delivery
A variety of influences and impacts have been created by the regulatory agencies in the healthcare sector. Their common code of ethics that acts as a guideline to the medical practitioners has played a great role in ensuring that the values and the beliefs of the patients have not been violated by the physicians. The regulations have also eliminated plentiful inequalities that were being experienced in the health sector. This intervention has also ensured affordability as well as accessibility of medical services. Creation of a healthy competition in the health sector has seen a tremendous improvement in the quality of the services offered. On the deleterious side, the regulations have to some extent resulted in the reduction of efficiency of the healthcare industry due to the bottlenecks that have been created by excessive regulatory measures (Jerry, 2012). However, to a greater extent, the regulation of the healthcare industry has been a pro.
References
Jerry, E. (March, 2012). Healthcare law highlights problems with regulatory process. Stable URL http://www.usnews.com>home>opinion>economicinteligence>healthcarelawhighlightsproblemswithregulatoryprocess.html
Murray, J. (January 2013). HHS releases HIPAA update and sets September 23 compliance deadline. The America Medical Association. Stable URL http://www.ama-assn.org/ama/pub/amawire/2013-january-30/2013-january-30-general-news1.html
Economic Growth in Egypt and India
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Economic Growth in Egypt and India
INDIA
YEAR GDP
2003-2009 9%
1991 5.3%
1995 7.3%
2000 6%
Source: World Bank, 2008
Poverty level in India
Year 2010 29.8%
1993-1994 and 2004-05 775 of Indians live on 0.50 dollars a day
Source: World Bank, 2008
The Global Hunger Index 1996-2011 it went up to 23.7%
The Human Development Index in India 1980-2012 has risen annually from 0.345-0.554
EGYPT
GDP per capital in US dollars
YEAR 1981 1,354.81
1991 2,524.99
2001 3,685.98
2006 4534.82
Source: World Bank, 2008
The Human Development Index in Egypt 1980-2012 has risen from 0.407 to 0.662
The Gender Inequality Index is 112/187
The economy of India is one of the largest in the world. India as much as it has enjoyed economic growth it has suffered economic fluctuations as well. The economy of India in the years 1947-1991 was a mixed economy; it was composed of capitalism and socialism. The use of capitalism has been associated with a lot of consequences and therefore during this period India suffered certain inefficiencies like corruption ( HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Arup+Banerji%22&source=gbs_metadata_r&cad=6” Arup and HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Heba+El+Laithy%22&source=gbs_metadata_r&cad=6” Heba 32-6). Therefore the system did fail. The next policy that the country adopted was liberal and free market principles in the year 1991. India then was able to engage in international trade. Their economy grew as it was able to develop its infrastructure and this was seen in the increase in the per capita incomes.
The economy of Egypt just like the one in India has had its ups and downs. The country’s macroeconomic performance in the 1990s improved with them having been involved in the gulf war hence been able to get reliefs. Egypt had also been able to get funds from the International monetary fund. The next century also started well for Egypt as they improved their infrastructure and also use better policies to deal with the inefficiencies.
Egypt however, has made some decisions that have affected their economy and one of those factors is inequality whereby the government after getting its wealth it’s not able to equitably share the wealth. This leads to some parts of the country been under developed a condition mostly associated with the developing nations. Inequality has also lead to the country’s most productive people been left with no employment and those lucky are under employed (Liu and Robert 76). The less developed parts in Egypt have led to lack of infrastructure growth hence access to education to the larger population has become impossible.
Inequality in Egypt is also seen in gender where women do no easily participate in their economy due to social and religious influences. These influences have led to women not been active in education since they are not allowed to involve themselves in careers. Poverty in Egypt has risen over the last three decades; this has also led to food insecurity affecting mostly the children. The rural areas are mostly affected and this is the larger population as it totals to 69%, these are people living below the poverty level. There is a large gap in Egypt between the rich and the poor one is in one end and the other is in the other extreme end (Liu and Robert 65). This can be seen in annual household income with the poor having $4090 income while their expenditures average is $ 5154 ( HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Arup+Banerji%22&source=gbs_metadata_r&cad=6” Arup and HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Heba+El+Laithy%22&source=gbs_metadata_r&cad=6” Heba 32-6). As can be seen from the data found most of the population uses $0.50 a day thereby showing that majority of Egyptians live under the poverty line as the World Bank has set $ 2 a day for a normal household.
Research has shown that in Egypt there is a literacy rate over 71% with males taking the upper hand. This does not come as a surprise seeing that there is a lot of poverty and inequality in Egypt making it hard for the larger majority to attain education. Most nations have been able to eradicate poverty but following the millennium development goals but Egypt has been left behind. By the year 2000 statistics show that 16.7% of Egyptians were living below the national poverty line and it has actually increased in the next years ( HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Arup+Banerji%22&source=gbs_metadata_r&cad=6” Arup and HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Heba+El+Laithy%22&source=gbs_metadata_r&cad=6” Heba 41).
The level of poverty in Egypt has not only been measured by how much they spend or earn in a day but also by their level of living. This has also shown that poverty is real in Egypt since there is no easy access to better health; the level of education is really low and also availability of education facilities. The youths also have no jobs and are left unemployed for a long time.
What really causes poverty in Egypt it has been said that prices of food in Cairo is unbearable and most people cannot afford hence leading to child mortality since children cannot deal with temporary hunger. The lack of access to food makes it hard for the population to work and even go to school and better their future. However the main cause of poverty in Egypt is the high population growth, its population has increased from 44 million in the year 1981 and is now 80 million. The population is rising but less is done to cater for the growing population. High unemployment is also a cause of poverty in the country as most youths are unemployed and this can be associated with the effects of the increase in population (OECD, 2011, 47). The policies adopted to deal with inefficiencies in Egypt have also contributed to poverty. The country is endowed with resources but mostly they are not efficiently used. The measures taken mostly end up benefiting the rich instead of the poor and more government funds also do not reach all the areas.
In India poverty and inequality has also had an effect on education. There is also the problem of the extremely rich and the extremely poor. Statistics show that 68.7% of the population in India lives on less than $2 a day and hence maybe said that a large population lives under the poverty line. Children in India are the most affected by these poverty levels as it has been seen that 42% of children in India are actually underweight. The Global Hunger Index of India has actually gone up since the year 1996 and is now at 23.7% (Liu and Robert 89-92). Poverty in Nadia is also seen by the fact that human beings do not have the necessary essentials to survive from better health care to lack of food. The poverty level has had an impact on education as the literacy level in India is actually low. Inequality has also led to poverty and also increased illiteracy levels as resources are not equally distributed among the Indians.
The causes of poverty in India are similar to those in Egypt as India also faces high population and also the use of ineffective policies. In India majority of the population which is 60% largely depend on agriculture and growth in agriculture has gone down over the years. This affects the economy too as agriculture contributes 18% to India’s GDP (OECD, 2011, 54). The land available are not used for high income projects and hence no growth in the sector. Unemployment cases have risen over the decades as the only available employment is mostly farm related and those who move to towns end up frustrated with no jobs.
These effects of poverty and inequality on education show that the way out is alleviating poverty. There are certain measures that the government can use to eradicate poverty and one of them is ensuring there is equality. Resources should be equally distributed to ensure everyone has access to the basic necessities like education and better health centre. The government should also take care of the minority in the society, the women and the children and also focus on the weak sections of the country (Dash 66). Emphasis on education once all these have been implemented will lead to economic growth of the nation.
To address the economic and social changes facing Egypt and India, it is important to identify the root cause of these changes, otherwise no progress would be attainable. For this reason, based on the above discussion, it is critical for the concerned authorities to adequately address the income inequality related issues, poverty, and education in order to steer economic growth and development (Dash 88). Given the fact that more than half of Indians and Egyptians are living in poverty with little income that is insufficient to meet all their basic needs, an immediate course of action is necessary. This calls for active participation and involvement of the leading stakeholders in restoration of economic development and growth, thereby eliminating poverty. Since poverty is the main factor behind this low economic growth and development in these two countries, the policy focus directed towards addressing poverty with the emphasis laid on poverty reduction strategies. A reduction in the poverty index will adequately resolve issues related to income inequality, and hence, a reduction in the income gap between high income earners and low income earners ( HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Arup+Banerji%22&source=gbs_metadata_r&cad=6” Arup and HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Heba+El+Laithy%22&source=gbs_metadata_r&cad=6” Heba 65). Then bridging of the income inequality and disparities is likely to result into re-distribution of resources. Through reduced poverty, it is possible to stimulate and accelerate economic growth rate in the two economies hence, improved GDP and higher education attainment index.
In conclusion, the fight against poverty is the most feasible and long-term strategy of improving the performance of India and Egypt. Reduction in poverty index will generate more resources and result into improved living standards. With higher income, the citizens will be financially empowered hence increased purchasing power parity and ability to finance their basic need, including education. For Egypt, one way of reducing poverty to create more employment opportunities for the poverty stuck unemployed persons. Through increased employment opportunities, the country’s development level would significantly improve.
Works Cited
HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Arup+Banerji%22&source=gbs_metadata_r&cad=6” Arup Banerji and HYPERLINK “http://www.google.co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Heba+El+Laithy%22&source=gbs_metadata_r&cad=6” Heba El Laithy. Poverty and Economic Growth in Egypt, 1995-2000. World Bank Publications, 2003.
Barro, Robert J, and Xavier Sala-i-Martin. Economic Growth. Cambridge, Mass: MIT Press, 2003. Print.
Dash, L N. World Bank and Economic Development of India. New Delhi: APH Publ. Corp, 2000. Print.
Egypt: Business Climate Development Strategy. Paris: OECD, 2010. Print.
Liu, Lewis-Guodo, and Robert Premus. Global Economic Growth: Theories, Research, Studies and Annotated Bibliography, 1950 – 1997. Westport, Conn. [u.a.: Greenwood Press, 2000. Print.