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emerging economies A presentation was arranged on the above topic in the Prime Minister Secretariat. The speakers were Economists from Goldman Sachs who covered
begins by examining the pattern of capital flows first to low-income countries, and then to emerging economies. In both cases, we see a dramatic collapse in the last
Marketing The New Titans: A Survey of the World Economy The Economist, September 16th 2006 Emerging economies led by the BRIC countries (Brazil, Russia, India, China)
Business Ethics Ethics Question: Some argue that aggressively investing in emerging economies is not only economically beneficial, but also highly ethical because
Questionnaire Central banks in emerging market economies, and developing countries ,moved towards reliance on money market operations for the implementation of monetary
Submitted by saraharbab on March 1, 2008
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A presentation was arranged on the above topic in the Prime Minister Secretariat. The speakers were Economists from Goldman Sachs who covered the growth prospects of BRIC and N 11. BRIC is acronym for Brazil, Russia, India and China and N11 cover other 11 emerging markets including Pakistan. The key theme that came out of the presentation was that Pakistan is a laggard and is not doing enough to be considered a high growth economy.
BRICS
Near term growth of an economy is driven by Demand and Long term sustainable growth is driven by Supply of factors of production. The Goldman Sachs Model is based on two main factors, Labor Force and Physical Infrastructure. They have developed an Economic Growth Scores that covers,
· Macro Stability: Inflation, Fiscal Deficit and External Debt
· Macro Conditions Openness, Investments, Savings
· Technology
· Human Capital
· Political Conditions
Their conclusions are,
· China will become second largest economy in the world in the next 25 years and largest by 2050 and will be followed by India and USA
· China will not be able to sustain its 10% growth due to ageing population
· Today, the largest economies (in size) are also the richest (per capita income). This will not be the case in 2050 as per capita incomes of China and India will still be less than half of USA.
· Large but not so rich population of China and India will keep demand for Consumer Goods and Commodities very high. The threshold income after which demand explodes is US$3000/annum. Almost 2bn people will join this income threshold in the next few years.
· As Per Capita Income rises, Exchange Rate converges to Purchasing Power Parity (PPP). For e.g., per capita...
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