International comparisons method, Microeconomics

Assignment Help:

International Comparisons Method

In the 1960s, a few developing countries of the world looked around the developed world in search of models of development. For instance, South Korea examined the profile of development of a few industrialised nations of the world such as Japan, the United States and the Federal Republic of Germany. Other illustrations are: Puerto-Rico used the coefficients arrived at by the United States while Italy used those of France.

Even a model firm of one country can be taken as a model for a similar firm in another country. On a comparative and summative analysis, Korea realised that every increase in national income by one per cent was associated with an increase in participation of high-level manpower by 1.038 per cent. Likewise, the corresponding increase in participation of second level manpower was 1.655 percent.

Based on this information, South Korea planned its manpower supply by adopting the same ratios. This approach of looking to one country as a model cannot be followed by all countries. The chief parameter that controls the process of development in a country is its geographical location. For instance, a country like Nepal which is landlocked cannot think of modelling after Japan or France. Further, apart from geographical factors there are other factors related to the history and culture of the people. For instance, one of the factors associated with Japan’s rise as an industrial power is the quality of the people, their work-culture, self-discipline, entrepreneur-behaviour, etc. Hence, international comparisons as an approach for manpower planning has limited value.


Related Discussions:- International comparisons method

Identify the basic postulates of economics, Question 1 Identify the basic...

Question 1 Identify the basic postulates of economics Question 2 Discuss the role of price mechanism Question 3 Explain the shape and application of Engel curve

Define the returns to scale in production technology, Define the returns to...

Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a

Describe stabilisation policies as by the imf, Describe stabilisation polic...

Describe stabilisation policies as by the International Monetary Fund (IMF). Define stabilisation policies as basically a list of demands set forward by the IMF to a debtor nat

Examples of oligopolies abound, The U.S. automobile industry, the soft-drin...

The U.S. automobile industry, the soft-drink industry, the brewing industry, segments of the fast-food industry, and airplane manufacturers. Oligopoly will usually produce less tha

Econ 414 and 415 project, 1. Econ 415 Project Select one time series of...

1. Econ 415 Project Select one time series of real data. The series can be selected from the published data ( http://research.stlouisfed.org/fred2/). The data series must co

Accompanying table , The accompanying table represents the price and yearly...

The accompanying table represents the price and yearly quantity sold of ice cream cones on Sidfield Island.   Price of Ice Cream Cones Quantity of Ice Cr

Economics of scale, give a detailed discussion on the term economics of sca...

give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.

Traditional economy , what is traditional economy 2 features of traditional...

what is traditional economy 2 features of traditional economy

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd