The Objectivist published in and was reprinted in Ayn Rand's Capitalism:
Economic growth, which reflects the overall performance of a country, is one of the most important macroeconomic goals that a country seeks to achieve and maintain. It must be sustained in order for economic development to be achieved Desmond, et al, Besides taxes as an instrument of fiscal policy, governments might use their expenditures, as another instrument, to achieve economic growth.
In the past two decades, the Palestinian economy was going through fluctuating behavior. It was affected by different social and political situations. Gross domestic product GDP the most important indicator of economic growth varied with different percentages over these two decades.
Moreover, GDP started and continued to decrease as a result of Israeli military measures during the years of the second intifada Therefore, it can be said that Palestine, as an occupied small country, has a very fragile and sensitive political, economical and social situation due to the Israeli occupation.
Much attention should be paid to the Palestinian economy, in particular to the governmental policies used in order to analyze the reasons and effects of such a fragile economy on the other aspects of life. Theoretical Economic development programs essay and Literature Review: This study uses the definition of economic growth as an increase in real GDP.
Economic growth can Economic development programs essay measured by comparing real GDP for different years. Government spending expenditurewhich will be the main focus of the study, is the acquisition of goods and services either for current use, to directly satisfy individual or collective needs of the members or for future benefits such as infrastructure investment.
It includes all government consumption and investment but excludes transfer payments made by a state Barro and Grilli, There have been several schools of thoughts regarding the impact of government expenditure on the economic growth. The classical school viewed that countries with higher government expenditure would experience lower economic growth Ricardo, While the Keynesians viewed that the increase in government expenditure leads to higher economic growth Keynes, However, the neo- classical viewed that there is no long run impact of government expenditures on the economic growth rate Solow, Moreover, Economists of Endogenous Growth Theory such as Barro suggested that government expenditure induces economic growth.
There have been several studies interested in the impact of government expenditure on economic growth. For example, Mohammadi, Maleki and Gashti analyzed the effect of governmental expenditure composition on the Economic development of economic cooperation organization countries ECO: They focused on three types of government expenditures: The real per capita of GDP in period t was the dependent variable where real per capita of GDP in period t-1, government expenditure on health to GDP ratio in period t, government expenditure on education to GDP ratio in period t, government expenditure on defense to GDP ratio in period t, the investment in period t, total of Population growth rate, technological growth and the depreciation rate in period t and other financial variables as a share of GDP in period t formed the independent variables.
The dynamic panel data method, the generalized method of moments GMM and the Sargan test were conducted. The results showed that the health expenditure has significant and negative effect on growth, educational expenditure has significant and positive effect and the governmental defense expenditure has significant and positive effect on the economic development of ECO countries.
The dependent variable in this study was per capita GDP growth while the growth of per capita public health expenditure in the GDP, growth of per capita public spending on education in the GDP, population growth, growth of the share of total health expenditure in the GDP and the share of gross capital formation in the GDP formed the independent variables.
Data for all variables were obtained from the World Development Indicators and Least square multiple regression analysis and t-test were used to estimate the specified model.
Results showed that the share of gross physical capital formation in the GDP is not significant, developing countries in which the government continues to increase per capita spending for health care and education relative to income are expected to grow faster and that the growth of the share of total health expenditure in the GDP also influences per capita GDP growth of countries included in this study.
Also, Yu, Fan and Saurkar assessed the impact of the composition of government spending on economic growth in 44 developing countries 44 developing countries The aggregate national GDP were used as the dependent variable while the explanatory variables included labor, gross capital stock, and capital stock of various government expenditures.
Results showed that the various types of government spending have different impact on economic growth. In Africa, government spending in human capital was particularly strong in promoting economic growth.Founded in as the state's first public college, The University of Alabama is dedicated to excellence in teaching, research and service.
Economic Development Essay. Economic development is the increase in the standard of living of a population. Economic development includes economic growth among the main criteria. Economic growth is a sustained growth from a simple economy to a modern one.
The study of economic development includes theories of the causes, the . Gold and Economic Freedom. by Alan Greenspan [written in ] This article originally appeared in a newsletter: The Objectivist published in and was reprinted . local economic development programs are argued to increase the quantity or quality of local economic development.
Local economic development is increasingly regarded as a major local government. The Concept Of Social Development Economics Essay. Print Reference this. Disclaimer: by improving the economic development.
It also refers to the changes in the social order within a society. identify the impact of policies and programs to minimize its impact on society and to identify and eliminate social factors that have . When we look back someday at the catastrophe that was the Bush administration, we will think of many things: the tragedy of the Iraq war, the shame of Guantánamo and Abu Ghraib, the erosion of.