By taking into consideration the history of the Caribbean, the economic theories underpinning Caribbean development as well as the features of the typical Caribbean economy, construct a hypothetical (ideal) economic model that you consider suitable for the economic development of the Caribbean. Ensure that you carefully explain/justify the reasoning behind the development of your model. You will now need to analyse your new model. Be sure to clearly show how your “new” model improves on the other models that exist ( charts or graphs of necessary)

By taking into consideration the history of the Caribbean, the economic theories underpinning Caribbean development as well as the features of the typical Caribbean economy, construct a hypothetical (ideal) economic model that you consider suitable for the economic development of the Caribbean. Ensure that you carefully explain/justify the reasoning behind the development of your model. You will now need to analyse your new model. Be sure to clearly show how your “new” model improves on the other models that exist ( charts or graphs of necessary)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 4P

See similar textbooks

Similar questions

By taking into consideration the history of the Caribbean, the economic theories underpinningCaribbean development as well as the features of the typical Caribbean economy, construct ahypothetical (ideal) economic model that you consider suitable for the economic development ofthe Caribbean. Ensure that you carefully explain/justify the reasoning behind the development ofyour model.
Did the COVID-19 pandemic create new globalization opportunities for growth in yourCaribbean territory? YES/NOBased on your answer, write an answer that identifies those accepts that contribute to thegrowth, expansion and advancement of your local economy. On the contrary, if you do notbelieve that new opportunities were created, write an answer that identifies those acceptsthat negatively contributed to the negative growth, contraction and deceleration of our localeconomy
Did the COVID-19 pandemic create new globalization opportunities for growth in yourCaribbean territory? YES/NOBased on your answer, write an answer that identifies those accepts that contribute to thegrowth, expansion and advancement of your local economy. On the contrary, if you do notbelieve that new opportunities were created, write an answer that identifies those acceptsthat negatively contributed to the negative growth, contraction and deceleration of our localeconomyPlease explain
Would you consider that imperialism, the policy of extending a country's power ad influence through diplomacy or military force, is similar in any way to globalization, in terms of concepts, driving forces, activities, or net results? What do you think will happen with respect to “globalism” post Covid?
According to Filippov and Settles (2013), 4 different innovation-related internationalisation approaches can be distinguished when analysing the activities of Russian multinationals. Outline these 4 different approaches and expalin which approaches are most appropriate for what kind of conpanies. Illustrate gour answer with examples of Russian multinationals.
Review Porter’s Theory of Competitive Advantage and assess the extent to which the model canbe used to explain (fully or partially) growth and development in the Caribbean region. Howinline is the model with the views of economic development put forward by Best and Lewis? Limit answer to 200 words
Determine whether the following policies and programs support a political environment that promotes economic growth and development in less- developed countries (LDCs). For those that help promote economic growth and development in LDCs, classify each policy or program into one of the following categories: law and order, infrastructure, or international trade. Policies and Programs Efficient transportation systems Openness to international trade Clear private property rights Tariffs and quotas Support economic growth Stable Legal and Political Systems Infrastructure International Trade Inhibit economic growth O O О о OO O О о о
1) Evaluate how the used of technology and digital transformation create the path to the sustainalbe development in a country and explain if it is helpful considering the current economic climate? Note: This evaluation will MUST be supported by authoritative sources. You are expected to provide references to at least five (5) pieces of documented material that support your views. 2) Translate: how does the used of technology and digital transformation create the path to the sustainalbe development mean to to an accountant? 3) Explain to full detilals The Path to Sustainable Development for Jamaica.” (Note: please provide answer in 4-5 paragraphs) NB: Answer question 1-3
“[The Neo-colonial Dependence Model] attributes the existence and continuance ofunderdevelopment primarily to historical evolution of a highly unequal international capitalistsystem of rich country-poor country relationships.” (Todaro and Smith, 2020: 130).Critically discuss the outlook on underdevelopment by the international-dependence models. Answer the following question:Briefly describe the neocolonial dependence model with reference to Marxism, comprador groups and its external view of constraints.
“[The Neo-colonial Dependence Model] attributes the existence and continuance ofunderdevelopment primarily to historical evolution of a highly unequal international capitalistsystem of rich country-poor country relationships.” (Todaro and Smith, 2020: 130). Critically discuss the outlook on underdevelopment by the international-dependence models. In your answer: Briefly describe the false-paradigm model with reference to advice, access to credit andneglect of reforms;• Briefly describe the dualistic-development thesis with reference to the temporality ofwealthy/ poor coexistence and the ‘trickle-down’ effect;• Discuss the weaknesses of these dependence theories;
4. What are two ways that regional economic integration can help global companies?
Some resource-rich countries have succeeded in converting resource wealth into longterm and equitable economic development, while many others have not. Naturalresources have played a fundamental role in the growth of several industrializedeconomies, including Germany and the United Kingdom, where coal and iron ore depositswere a precondition for the Industrial Revolution. The United States was the world’sleading mineral economy from the mid-nineteenth to the mid-twentieth century and in thesame period became the world’s leader in manufacturing (van der Ploeg 2011). Morerecently, countries such as Botswana, Chile, and Norway have used abundant oil andmineral resources as the foundation for economic growth. However, in many othercountries, resource extraction appears to have undermined governance, fed corruptionand capital flight, and increased inequality.Required:(a) Discuss the main challenges posed by resource revenues; and(b) Discuss the special fiscal institutions and mechanisms…