The states which had a diversified palette of export products managed to overcome the crisis in relatively short periods of time due to the advantages of diversification. But the countries which had smaller economies, strictly dependent on one or two export products faced more challenges in defeating the crisis. These countries include Honduras, El Salvador, Nicaragua, Uruguay, Panama and Paraguay (LaRosa, Mejia, 2006).
All in all, the approaches implemented by each country in the management of the Great Depression of the 1930s revealed both differences as well as similarities. The differences included diverse policy approaches, monetary decisions and the capitalization on the export advantages. The differences in the approach of the depression were given by a multitude of issues, most of them derived from the country-specific features. For instance, China, due to its currency pegging to the silver rather than the gold, faced little impediments in revival. The countries in Europe renounced their currency pegging to the gold and the countries in Latin America based their revival on export strategies. The actual success in overcoming the crisis was directly linked to the national strengths and weaknesses of each developing state.
As the global leaders met at Bretton Woods and formed the International Monetary Fund and the International Bank of Reconstruction and Development, the management of the debt crises moved on to a new level. The developing countries gained access to more funds and expertise to help them overcome the crises.
While the general approach became more integrated due to...
Hungary Geography Hungary is located in Central Europe, northwest of Romania (CIA 2012, BEEA 2012). It measures 93,000 square kilometers. It is bordered by Romania, Croatia, Austria, Serbia, Slovakia, Slovenia and Ukraine. Its capital is Budapest (CIA, BEEA). Government Hungary has a Republican form of government (FCO 2012). Its Constitution was adopted on April 18 last year and took effect in January this year. Its four branches of government are the executive, legislative, judicial
The UK needs to build good economic relationships with emerging markets even more than with its EU neighbors. China is already highly competitive in manufacturing and is gaining competitiveness in high-technology manufacturing. India is a leader in Information Technology and, being an English speaking country, also has the ability to be globally competitive in Professional Services. Latin American and Southeast Asian economies, such as Brazil or Indonesia, will become increasingly
Political Science Canada: Comparative Politics Canada, like any other nation suffered terribly from the effects of the global financial crisis. The economic impacts from Global Financial Crisis were resolved through Canada's political and provincial administration structures. The Great Recession further intensified such trends towards elements of the precarious unemployment across Canadian provinces such as British Columbia mostly with certain population groups. This paper intends to illustrate how the global fiscal crisis has
GBATT Income Statement Review GBATT has a relatively stable company. It saw revenues decline 4.4% and profits by 4.24% last year. Expenses dropped in lockstep with revenues, indicating that the company has good ability to respond to changes in the prevailing economy. The company still earned a healthy net margin of 12.6% last year, despite the apparent economic downturn. There are several factors to consider when making the decision to enter the
This also implies inadequacies in fiscal sustainability, which influences investments in private sectors. The second channel happens through the level, composition and quality involved within the public investment, which shows the level at which the public investment replaces the private investments (Schmidt- Hebbel, Serven, & Solimano, 1996). The final channel regards the level of taxation on the corporate earnings and the rules applicable in depreciations. There have been arguments that fiscal policy
Private Sector Investment and Economic Development Investment and economic development The Role of Private Sector investment in Economic Development In the past few decades there has been overwhelming support for growth and development rooted in private investments and market-oriented strategies. A move from public sector driven growth has come as result of the need to reduce the widening gap in the balance of payment account, increasing public debt, rising inflation rate, growing foreign
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