Its area is larger than that of China, the United States and India combined or five times that of the 28 countries of the European Union. Its population, at over million, is also getting on for twice as much as that of the European Union. The 48 countries of the region are also extremely varied, both in size and economic history, with many small countries and giants such as Nigeria.
The Web has long been held out as an enabler of equal opportunity and broad-based growth. Among other things, it can: Reduce entry barriers and disrupt monopolies; Make knowledge freely accessible to all, lowering the costs of acquiring and disseminating information; Build social capital that helps people get better jobs and services; and Match workers to job opportunities and enable traders to overcome geographical isolation.
Our rankings of economic empowerment combine secondary and primary data to assess the contribution of the Web to job creation, livelihoods and growth. In theory, a poor country could do just as well or better than a wealthy country on this pillar of the Index, if the Web was Discuss how far recent uk economic a large relative contribution to boosting a small economy.
However, in practice these rankings are led by wealthy countries. Why should this be? Regression results for the entire sample of countries show that not only are wealthier countries gaining more economic benefit from the Web, but two other factors have independent explanatory power: The higher the inequality, the lower the economic empowerment observed; the higher the education level, the greater the economic empowerment.
Of course, poor education and high inequality are usually closely related, in and of themselves. However, initial analysis suggests that in many instances, each variable on its own plays a significant role in explaining the empowerment scores. This analysis confirms that investment in universal education is a key prerequisite to enable everyone to benefit from the internet revolution.
It also suggests other factors that need to be tackled before the Web can make a real contribution to inclusive, broad-based growth. These fall into two main categories: Affordability and Access Over four billion people are not connected to the Internet.
Nine in 10 of them are in the developing world. In high-income countries, lower levels of inequality — as measured by Gini coefficient — also seem to be related to higher levels of access. However, as McKinsey has notedthe rate of growth in Internet use is slowing.
On current trends, McKinsey estimates, more than half the global population will still be offline in As the analysis below shows, these are also the countries with the cheapest entry-level broadband in the world when prices are averaged across both fixed-line and mobile options.
The primary reason for sluggish growth in user numbers is affordability. The average cost of a basic fixed-line broadband subscription dropped significantly inbut barely budged in As we will discuss later, this is a significant barrier to the use of technology to improve health and education outcomes in the developing world.
What is more, ITU statistics show that in middle- and low-income countries, only a fifth of the rural population, on average, is covered by a 3G network. As the South Africa case study suggests, making Internet access more affordable is critical for fighting inequality and creating jobs.
Unlike Brazil, however, South Africa has become more unequal since its transition to democracy. Heavy spending on social grants is not enough to bridge the divides created by a dysfunctional education system, high levels of unemployment, and extreme wage inequality.
But rather than using its excellent communications infrastructure as a tool to address these fundamental challenges, the South African government has been content to allow mobile cellular and broadband prices to remain among the highest in the world.
Internet uptake has grown relatively fast in recent years with the spread of smartphones, but users are disproportionately affluent and well-educated. Hence, under the current policy regime, it is hard not to conclude that technology is deepening economic and social inequalities in South Africa.
Inthe government developed two new laws restricting the rights to information and freedom of expression: Nevertheless, South Africans remain determined to exercise their hard-won democratic rights online as much as offline.
This sub-index was, once again, led by Scandinavian countries who have made universal access to the internet a pillar of their commitment to equal opportunities.
However, there were some surprises. Hungary topped the table of middle-income countries, out-performing several richer countries, including the United Arab Emirates, Italy, and Greece, and this October, a massive popular revolt against a proposed tax on Internet data showed exactly how highly Hungarians value their affordable broadband.
An equitable education system is key to mitigate this — as discussed below.
Small farms are a prime example. Boosting their productivity and earnings is key to reducing poverty and unlocking equitable growth. There are many economic handicaps that must be overcome for small farmers to thrive. ICTs are no panacea, but could help farmers to tackle some of the biggest challenges they face — including information asymmetries and lack of market power vis-a-vis the intermediaries who buy their crops, as well as increased weather risk resulting from climate change.
Climate change is causing weather-related risks such as droughts, floods, and tropical storms to steadily increase in scale and frequency. Enabling farmers to anticipate and plan for such threats is key to protect their livelihoods, and the Web can help. Chile delivers targeted information from the Web directly to farmers via SMS messages, a system designed to work even on slow networks with intermittent connectivity.
One farmer reported that his entire crop for was saved by an SMS message advising him to delay planting because of impending bad weather.
Unfortunately, less than a quarter of Web Index of countries are making effective use of ICTs to share early warning information about both slow-onset and rapid-onset disasters, and all of them, except Costa Rica, are high-income countries.US News & World Report also notes China’s renewable goal, though cites 10% as the target because the 15% figure includes energy from hydro-electric power.
However, the author of the US News article noted in an email to me that the renewable energy community does not include large hydro in its calculations, because of its environmental impact and so the discrepancy. Get Full Text in PDF.
Table of Contents. Introduction; Tools and Measures; Measures of National Income; Need for New Theory; Measures and Indicators; Characteristics of a Successful Indicator.
TEHRAN, Iran — Iran is ready to boost its uranium enrichment to higher levels if talks with Europe on salvaging the nuclear deal fail, a top official said Tuesday. Capitalism is positively correlated to economic growth.
Most posts on this blog are critical of Keynesian economics because it is the dominant theory affecting contemporary economic policy. The economic effect of an all-island economy April This report considers the potential economic impact of Irish reunification, with particular consideration given to the likely effects of Brexit.
Ireland’s Economic Crisis The Good, the Bad and the Ugly1 Karl Whelan University College Dublin June 18, Abstract: This paper provides an overview of Ireland’s macroeconomic performance over the past decade.
In addition, to presenting the underlying facts .