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 rates of growth as compared to high income economies, which implies that eventually, such poor countries may twin the per capita incomes of wealthier countries, which in an economic term is referred to as convergence.b. Technological innovation is almost certainly a key driver of long-term economic growth. However, developing economies imply more than mere technological advancements, to effectively achieve economic progress since economic growth, in the absence of proper and adequate manufacturing capabilities, along with the implementation of utter of the art technological knowhow, no innovation can actually be expected. Moreover, there must be the existence of sufficient resources that facilitate such innovation, which in turn drives economic growth, such as exceptionally high quality of human capital, an adequate level of educational system and science and technology, as intumesce as effective implementation of institutional reforms across the country.c. The institutional reforms must be accompanied by advances in science and technology as hearty as nation wide political, and legal reform policies. Also, these countries must make optimum utilization of their natural resource base such as airlift and solar energy, by taking into consideration the differences in its technological capacity and energy requirements. Furthermore, long term sustainable development can be ensured done 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 scantiness in the recent years which further substantiates the belief that poverty could be concentrated considerably within a specified time limit with the care of effecti ve market reform policies.