The Causes of Differing Development Levels Among Nations
Open Access
- Author:
- Bologna, Jamie Lynn
- Area of Honors:
- Business Economics (Behrend)
- Degree:
- Bachelor of Science
- Document Type:
- Thesis
- Thesis Supervisors:
- Kerry Adzima, Thesis Supervisor
Todd M Nesbit, Thesis Supervisor
Kerry Adzima, Thesis Supervisor
James Anthony Kurre, Thesis Honors Advisor - Keywords:
- economic development
economic growth
economic freedom - Abstract:
- It is well known that countries develop at very different rates causing some nations to be very rich, while others are left very poor. The goal of this research is to develop an understanding of why these differences occur. By understanding the underlying conditions of a successful nation, it will make it possible to guide policy makers of struggling nations in the correct direction. This paper will begin by exploring the two extremes of economic policy, free market and extreme governmental intervention. It is expected that the free market approach will be more beneficial to most countries, but how to begin implementing this approach depends highly on the culture of the specific country. This research will contribute to developing a strong understanding of the underlying causes to a nation’s success. This can then lead into the analysis of two specific countries. This analysis will involve examining the governmental structure, the country’s culture, etc. These results can then be compared and contrasted and should suggest that either governmental influence or free markets were more beneficial to those particular societies. This will then imply that under certain conditions there is evidence supporting either governmental influence or free market economic policies for most countries.