week7 - 1 Among the problems that hinder growth in...

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1. Among the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound money supply, a low saving rate, poor capital base, and lack of foreign exchange. Explain how these problems are interconnected. The only thing that is really important to see the growth of our economy is labor productivity. There are five things that are important to determine this. They are technology, OJT (on the job training), which refers back to the HR department, economies of scale, resource allocation, and quantity and quality of goods produced. Technology is important because it is what puts a country on the industrial map today. If a country has a good base in the production of new technology they are almost always high in the trading world because they always have more product and information to give to others. This accounts for the majority of labor productivity. HR is responsible for approximately 15% of labor productivity. All the HR department has to do is provide education and working skills to their
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week7 - 1 Among the problems that hinder growth in...

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