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Jared Diamond argues in Guns, Germs, and Steel that Africa has always been poor due to a number of ecological factors affecting historical development. These factors include low population density, the tsetse fly, malaria, lack of navigable rivers, and the north–south orientation of Africa's geography. [97]
Countries in Africa are sorted according to data from the International Monetary Fund. [1] The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . [ 2 ]
Africa Rising is a term coined in 2011 to explain rapid economic growth across Sub-Saharan Africa to date since 2000 and the inevitability of its subsequent continuation. The Financial Times defines Africa Rising as a "narrative that improved governance means the continent is almost predestined to enjoy a long period of mid-to-high single-digit ...
South Africa's National Treasury criticized the statement by Moody's saying, "It's not possible that we'll end up in recession." He added that the government may revise lower its 4 percent growth forecast for the year following growth of 5.1% in 2007. Car sales in South Africa dropped an annual 22 percent in June due to higher interest rates. [2]
The East African Community has made an effort to bolster trade through enhancing co-operation economically, socially, and politically within the member nations. [1] "The aim of EAC is to gradually establish among themselves a Customs Union, a Common Market, a Monetary Union, and ultimately a Political Federation of the East African States."
Even today, African institutions still depend on these early decisions. For example, in Africa, property rights are not established or enforced in a way promoting economic activity, and many African nations still rely heavily on raw material exports for income. For instance, in 2008, 75% of Malian exports came from gold. [42] Internal approach
However, complete substitution between factors of production and commodities is only theoretical, and will only be fully realized under the economic model called the Heckscher–Ohlin model, or the 2×2×2 model, wherein there are two-countries, two-commodities, and two factors of production. While the assumptions of that model are unlikely to ...
In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...