Economic Growth

In this Assignment, you will take the role as an assistant researcher to conduct a study on the major

determinants of the variations in the economic growth of countries. Your research must be detailed, and

presented in a 4-page research paper that analyzes factors that indicate the disparities of economic

growth among countries. In addition, you will discuss the value of recognizing and accommodating

multiculturalism and diversity in a globalized economic environment and their roles in promoting long-run

economic growth and development.

The below resources will help you familiarize yourself, or discover, how multiculturalism and diversity play

a significant role in aiding economic growth and development. Then, you will conduct your own research

to analyze factors that determine the disparities of economic growth among countries.

Diversity has become the characteristics of the majority of the countries in the world. Globalization and

economic interdependence of countries calls for understanding and accommodating diversities. Economic

development theories and empirical studies also widely discuss and debate the impacts of multiculturalism

and diversity on economic growth and development. The positive roles of multiculturalism and diversity in

economic growth and development are praised in democratic countries that have cultivated systems that

accommodate and capitalize on diversities and multiculturalism (see the article below).

 

Economic benefits of cultural diversity. (n.d.). SGS Economics & Planning. Retrieved from

https://www.sgsep.com.au/publications/economic-benefits-cultural-diversity

On the other hand, developing countries in Asia, Africa, and Latin America, cultural and religious

diversities are the internal instability, polarization, conflicts, disintegration, etc., which have adverse impact

on economic growth and development. Since the developing countries do not have systems that

effectively accommodate multiculturalism and diversity and dominant ethnic groups control power and

resources, they lead to the lack of equal opportunities and significant socioeconomic gaps in countries

(see the links below for research examples on the issues for Latin America, Asia, and Africa).

Arocena, F., & Porzecanski, R. (n.d.). Ethnic inequality, multiculturalism and globalization: The cases of

Brazil, Bolivia and Peru. Retrieved from

http://www.multiculturalismoenuruguay.com/Docs/Articulos/IJCSArocena.pdf

Kivoto, E. (n.d.). Ethnic conflict and its impact on economic development in Africa: A case study of Kenya.

Retrieved from

http://www.academia.edu/11302119/ETHNIC_CONFLICT_AND_ITS_IMPACT_ON_ECONOMIC_DEV

ELOPM ENT_IN_AFRICA_A_CASE_STUDY_OF_KENYA

 

Based on this background information, and research you conduct using the Internet, identify

key factors that determine long-term economic growth by comparing two different countries of your choice.

One advanced economy such as England, Canada, Germany, etc., and the other country is considered a

developing economy, such as Angola, Afghanistan, Bangladesh, etc.

Conduct research to determine how economically different the two countries are, by examining at least

five different economic indicators, such as gross domestic product, gross domestic product per person,

etc., and the differences in at least three of their social indicators, such as population, population per

square kilometer, etc. Then, expand your research into the cultural differences, including political

structure, average education, and social influences, to determine why these two countries are so different

economically.

The first half of your paper will describe, how you determined what data to collect, the sources of that

data, how you sorted that data, the time periods that the data describes, how you chose to analyze the

data, and your resulting conclusions regarding the differences between these two countries. The second

half of your paper will focus on your analysis of the cultural, social, and political diversity between these

two cultures and how these differences contribute to the economic differences you found based on

specific evidence from the data you collected.

Use databases to conduct your research to identify the key factors that determine longterm economic growth. You can find the most up-to-date reports on the economic growth trends of

different countries under the World Bank website below.

World Bank. (2017). World development indicators. Retrieved from http://data.worldbank.org/products/wdi

After you have conducted research and read from the above website, access the “Data & Research” tab

in the World Bank website and compare growth rates between two countries of your choice. Specifically,

select one advanced economy, and select one developing economy.

Download their data for five major economic indicators, and three major social indicators from the most

recent five years. Then, identify and describe possible factors that may explain the differences between

the GDP growth rates and long-term economic growth of the advanced and developing economies for the

countries you selected.

Conclude your paper by discussing the value of recognizing and accommodating multiculturalism and

diversity in a globalized economic environment and their roles in promoting long-run economic growth. In

line with the developed and developing countries you selected for your research, discuss the benefits and

challenges, and recommend solutions in regard to multiculturalism and diversity in the two countries and

their impacts on the economy

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