Module 3, Part 6

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Do curso por University of New Mexico

International Business I

505 classificações

University of New Mexico

International Business I

505 classificações

We live in a world of intensifying global relationships, one in which international business has become the key determinant of economic development and prosperity. This course, Global Business Environment, Part I, introduces students to a fundamental understanding of the socioeconomic political, cultural, and linguistic environment in which international businesses operate. This course utilizes an inquiry-based approach to understanding country level relationships in the Global Business Environment. It surveys the global business environment by asking and answering key questions about society, the global economy, cultures, institutions and languages. The questions we will ask are: 1. What is Globalization?, 2. Is Globalization New?, 3. How do Political and Social Institutions impact National Economic Development?, 4. What is the role of Culture?, 5. What are the Gains from Trade?6. Free Trade, Free-r Trade or Managed Trade?, 7. What are Foreign Currencies and how are Exchange Rates Determined?, 8. What does the Current Global Business Environment look like? This inquiry-based approach creates reflective opportunities for students to better understand the environment in which businesses operate. Lectures are delivered in an engaging manner, which encourages reflection and inquiry.

Na lição

Week 3

How do Political and Social Institutions impact National Economic Development?

Module 3, Intro14:22

Module 3, Part 16:27

Module 3, Part 26:37

Module 3, Part 37:15

Module 3, Part 411:35

Module 3, Part 56:14

Module 3, Part 65:01

Module 3, Part 75:35

Conheça os instrutores

Doug E Thomas, Ph.D.
Professor
International Management, Anderson School of Management

Hi, guys. Welcome back to

lecture six of module three.

We are looking at the economic development of nations and

we've just discussed religion.

We're now going to move to a sixth answer to our question.

What factors cause the differences across the world in economic development?

This answer is something very important because it is something that countries can

excuse me, work on, that they can develop policies around and I think that there's

widespread agreement that there's room for improvement across the world in this.

Many people who live across the world have wondered if corruption plays a role

in the development, or the lack of development in some economies over time.

What do we mean by corruption?

Well, there are lots of definitions.

We are generally talking about abuse of power for private gain.

For example, a government official receiving some type of

monetary benefit that also benefits

another entity but hurts the rest of society.

This this type of behavior is actually quite common across the world.

And some, some have sought to rank countries according to their

level of corruption and so I want to point you to that at this point.

I would like to show you a ranking of countries and across the world.

This is from an entity called Transparency International.

And the higher the score on this the less the corrupt the country.

And so we see at the top once again, many of our Scandinavian nations like Denmark,

Finland, Sweden and Norway, which, lead the way with,

very, fair systems of, economic government,

in other words, less corruption, less public sec-, sector corruption.

Or perceived levels of public sec, sector corruption, so this means less bribes

fewer no-bid contracts, fewer abuses of power in the public sector.

This could range range from bribes to get a.

To get out of a police, a ticket from the police, or

to obtain a construction license, or to start a business, or

to anything to a very expensive set of corrupt agreements for

a multibillion dollar country to invest in, a company to invest in the country.

We see other countries that are on the, list of wealthy nations like Canada,

Luxembourg, the United States, Japan.

And, so, there does seem to be so far, some correlation,

between, lack of corruption and, economic, wealth.

Let's continue to scroll down and

see let's go to the bottom, and see if we see any correlation.

We see Mexico there at number 106 tied.

We're starting to see some African nations.

We're seeing we see Russia.

We see some other Latin American nations and continue to see some African nations.

So there, there's a great diversity across the world in corruption as well.

This is a particularly important aspect of not only culture but

political system that countries must work on if they expect to develop economically.

Sometimes the citizen's ability of an indignation

is somewhat limited to fight corruption.

Sometimes corruption is so pervasive and so bad that it, it requires a very

significant change to overcome past, the past history of corruption.

Let me give you one example.

Some have called some of the economies in some parts of Africa kleptocracies,

where the systems of government exist solely or

almost entirely to extract

wealth from the country for the benefit of a very few government leaders in power.

And so, no matter what you do in terms of education or

even natural resources, and no matter what you do with political systems, these forms

of government have historically not even existed to try to develop economically.

They have existed to extract wealth, perhaps from these natural resources.

So clearly if if a government is overly corrupt or

entirely corrupt, you won't expect much in terms of economic wealth development.

And that ends our sixth explanation of the factors that lead to economic development.

We'll see you next time for a final wrap-up.

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