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Example research essay topic: Economic Development In Lithuania - 1,760 words

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Economic development is the major topic for discussions and debates in the developing as well as developed countries at the present time. All levels of society somehow make contributions to slowing or, on the contrary, encouraging and fastening the process of economic development. Beginning from the lowest working class and ending with the highest top management level class, development is affected directly or in other ways by these citizens. Apparently, the understanding of what development is and how it might be implemented differs in various levels of classes; however, the goal is the same for everyone, that is achieve social and economic stability by creating opportunities for self improvement and vocational prosperity to accelerate the pace of the development.

The modern world at the present time is at a constant stage of liberalization and globalization. These are the key factors that push economy forward. By the saying liberalization, I mean the liberal worldview that is being shaped in the modern societies. Many developed countries now profess political stream of socialism, for example Scandinavian countries, France and Spain. However, due to the global economic and social life, their worldview is very liberal.

And very few countries now prosper propagating a closed system of market. Societies of the modern world become more and more involved in a global market, therefore expanding the attitude of the people about the overall economy. On the other hand, looking at the Asian Tigers example, a controversial outcome can be noticed where dictatorship is positively correlated with economic growth. For instance, China is famous for its stern policies due to liberalization of society. People are still oppressed by constant government control over their lives. However, globalization cannot be avoided at least in an extent of peoples social life.

No matter how dictatorial governments are, they still invest huge amounts of money into education. Students knowledge is expanding therefore affecting their future vision of the country they live in. Globalization has been showing its power and importance in the world economy over the last fifty years. World Trade Organization has become one of the main pushing forces in global economic environment. It unifies different countries with the goal that every country-member has, that is economic prosperity and expansion of trade. Globalization affects a variety of macro economic agents.

First of all, civil society is touched. As discussed in classes, education, employment, rural and urban economies contribute to well being of a society. The percentage of educated people over the past fifty years has tripled in the U. S. and now amounts to ~ 78. 4 % of the whole population. Education creates demand for intellectual products, which are protected by Intellectual Property Rights, or IPR.

Over the past decades, the demand for intellectual property rights protection has increased significantly in line with the growth of knowledge activities (online). This shows how education is directly related to economic prosperity and plays an important role in economic life. Also, education supplies economy with skilled labor, which directly affects output produced. Education as well as other agents is unequally distributed in rural and urban areas. The distribution of economic benefits has always taken place in developing countries. The biggest share of money distribution has always been in urban areas and large cities.

Even though agriculture takes a large portion of a countrys budget, as the in case of Lithuania, the money still goes to urban sectors. As globalization takes place in almost every economic division, it does not leave out the urban and rural sectors. First, it touches Lithuanian rural sectors in a bad sense. As globalization takes place, the improvement is laying in efficiency. Technological progress continues to expand, farmers (the biggest share of population in Lithuania's rural areas) tend to invest huge amounts of money in farming to achieve low costs of production by buying new technologies.

Lithuanian farmers have no opportunity to do that because there is simply no possibility to get a credit for investments. This is caused by the inability to receive a credit. A large number of farmers and low demand for agricultural products diminishes income; therefore, very few farmers have collateral so needed to receive a credit. Most farmers are uneducated in Lithuania and most of them are still currently working under the post-soviet agricultural system. However, as globalization is in the process, there are opportunities to retrieve the information and other data concerning ones business. To some extent, the globalization helps improve business as well as farming.

In order for technological progress to take place, a necessity for it should occur. Necessities usually come out when the market is highly competitive, in which every business fights to survive. Therefore, every businessperson or farmer seeks for the lowest costs of production. Usually, the competition appears in a free or moderately free market.

This is possible only in economies that are directed towards the globalization. Economic isolation does not work as an economic development agent. At the present time, economic segregation means absolute stagnation. As an example, Cuba has been famous for its communist policy, which led the country to total underdevelopment. As most developing countries now admit, being a member of the developing world and participating in development is very important both for economic and social life. Political environment plays a very important role in development of an economy.

Globalization is most apparent in this field of economic growth. As a country becomes more and more considerable among other countries or unions (in this case NATO and European Union), all political actions and decisions are supervised over the magnifying glass. Political environment strongly influences foreign investment and trade, which are directly related to gross domestic product. It is a big issue how the country is represented through foreign policies. In most cases, foreign investors make decisions on whether invest or not by how the country is perceived in the global world. The overall environment for investments in a market is consideration at the top of contemplation.

Most large international companies and sometimes even entire unions of countries (European Commission) want to see how the government works. The importance of this can be shown by foundation of the organization TI. As discussed in classes, corruption takes a large portion of the share of development because it directly influences the decisions for investment made by foreign investors. Transparency International works for observation of government officials, how clean they work and manage to create a stable and attractive environment for trading and investments.

These two factors are very important for economic development. The basic macro economic equation consists of these agents: You. or GDP = C+I+G+{X-IM} (Blinder, 1994). Therefore, it may be concluded that corruption directly influencing investment and trade causes a fall in GDP.

Corruption not only leaves its consequences in the economic sector but it also marks the social life of a population. As discussed above, education is one of the leading factors of economic development. Corruption in this department might cause some irreparable damage. As education plays a significant role in economy, corruption in this field might cause long term slow down. Asian Tigers that follow the pattern of Japan best illustrate the importance of investment into human capital. As globalization takes places, more and more money must be invested into education because it has already reached the international level, where countries crossed the boundaries and many universities have been merging.

There are many programs and projects for exchange of students (LCC is of no exception). Also students engage in studying abroad. This influences economy and social life in the long run; therefore corruption in this field might cause the life long stagnation. For some countries, geographical position has been given as the main factor for economic development. For example, Iceland has a comparative advantage over other countries with its rich natural resources and invulnerability. This country has no defense expenses therefore can invest more.

Being a member of NATO it has no military. Evidently, such organizations as NATO and European Union serve as the indicators for economic development. All of the members are well-developed countries and joining these unions would show economic growth and some signs of political stability. To tell the truth, I do not think it is possible to avoid the development if a country participates in an international trade. Especially, if it belongs to WTO.

From my point of view, a country seeking for development first should look for opportunities to trade globally. Therefore, I think that globalization is one of the key elements for a country to develop. As discussed above, these are the main fields in achieving economic development. From my point of view, the economy is a vicious cycle. All the factors influence one another. Therefore, investing in one sector brings benefits to another.

However, there might be some cases when some particular investment determines other sectors slow down. As an example, at the present time there is a big discussion going on whether Lithuania should invest money into military or should it choose education as a target for development. As it is known, Lithuania has chosen to become a member of these two organizations (NATO and European Commission) rather than invest money into its economy causing it to expanding. I think that this is a good choice because historically, Lithuania had always been incapable to manage its economy and security by itself. Choosing military and integration into the European Union over education is a wise decision. At the present time Lithuania's well being directly depends upon its security.

The best example is Poland. When it joined the NATO, Poland received billions of dollars to invest in agriculture, particularly in rural areas. This is a good instance when investing into military brings benefits for further development. This formed a positive condition for entrance of Lithuania into the NATO block. First, Poland along with other NATO members is interested in having safe neighbors. Geographically, Poland is interested in having safe and prosper neighbors.

There is an assumption that if a country is a member of one of the two organizations, it has relatively high chances to join the other. Therefore, from my point of view, Lithuanian policy on education is taken in the right direction- investing money into military. As to the urban / rural regions policy, the example above shows a good way how to at least start thinking about the problem. The situation in Poland's regions is probably alike as in Lithuania. As said above, investing in other areas such as integration into the European Union and NATO serves its purpose. Those who participate in globalization.


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Research essay sample on Economic Development In Lithuania

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