EC307 - Question 1 country study

EC307 - Question 1 country study - Worldwide Standard of...

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Country Study: Pakistan Question# 1: Aeliya Naqi Data obtained from http://databank.worldbank.org For the above country, the data retrieved was only from 1980 onwards. Below you can find calculations of the growth rates. Growth rate for the past 29 years: (GDP 2009 /GDP 1980 ) 1/29 - 1 = (2,369/1,191) 1/29 - 1 = 0.023996305 = 2.4% Growth rate for the last 10 years: (GDP 2009 /GDP 1999 ) 1/10 – 1 = (2,369/1,898) 1/10 – 1 = 0.02241423 = 2.2% Looking at the graph, we can tell that Pakistan experienced a positive growth rate. The article “The
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Unformatted text preview: Worldwide Standard of Living Since 1800”,by Richard Easterlin, discusses the idea of industrialization as a `turning point" in economic development. The meaning of “turning point” is where the country’s standard of living significantly begins to increase and can be seen through an increase in the GDP growth rate among other factors. Pakistan has definitely reached its turning point. It reached it starting in the early 1990s....
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This note was uploaded on 02/15/2011 for the course ECON 307 taught by Professor Jackson during the Winter '11 term at Wilfred Laurier University .

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