This first is the direct contribution of government outlays to national income via public service wages and transactions for goods and services rendered. ... On the other hand, infrastructural development is crucial for service delivery and capacity-based growth. ... With respect to the goal of long term development, it is not any easier to separate public service and infrastructural development priorities. ... Evans provides cross-sectional data that strongly correlates a well-compensated public service with higher state capacity and resultant economic growth. For long term growth then, succ...

• Word Count: 2383
• Approx Pages: 10
• Grade Level: Undergraduate

December of 2007 marked the embarkation of an eighteen-month long global financial crisis, which in turn triggered a recession unprecedented in its slow recovery. ... The unemployment rate has been hit so hard in this recovery due to people's inabilities to change their skill-sets with the shift from an industrial focused economy to one based in information technology and services. ... About a third of the slow growth of real GDP is due to the slow pace of growth in the ratio of real to potential GDP, which is caused by the lack of overall demand for goods and services (CBO 3). ...

• Word Count: 2201
• Approx Pages: 9
• Has Bibliography
• Grade Level: Undergraduate

The institutional infrastructure was deliberately weakened so that it is no linger capable of delivering services to the poor. ... The economic revival strategy laid out in December 1999 envisaged 4 key goals: 1-Macroeconomic stability and the restoration of a working relationship with international financial institutions (IFIs), 2-structural reforms to remove distortions in the economy, 3-improving governance, especially economic, and reviving key national institutions. ... Given the fiscal mismanagement, mounting external and internal debt, excessive public sector borrowing to finance ri...

• Word Count: 2277
• Approx Pages: 9
• Grade Level: Undergraduate

On top of this the IMF also advised that Korea make a concerted effort to persuade foreign creditors to roll over short-term debt, an action plan was launched in late December of 1997, followed by a more comprehensive rescheduling of maturing debt. ...

• Word Count: 1943
• Approx Pages: 8
• Grade Level: Undergraduate