Development Economics

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1.

How does your own institution/agency engage


into enlivening the VMGO and be contributory to
the realization of sustainable development
goals?*

Strategic direction depends on an organization's ability to


define its vision and mission. Knowing the organization's
goals and the fundamental principles that guide it aids
the employee. It is an essential component of a company's
strategy that aids in setting priorities, allocating
resources, and ensuring that everyone is working toward
shared goals and objectives, thus providing a road-map to
the future.
However, there is a basic difference between the vision
and mission statements.First, mission and vision provide a
vehicle for communicating an organization’s purpose and
values to all key stakeholders. Stakeholders are those key
parties who have some influence over the organization or
stake in its future However however, for now, suffice it to
say that some key stakeholders are employees, customers,
investors, suppliers, and institutions such as governments.
Typically, these statements would be widely circulated and
discussed often so that their meaning is widely understood,
shared, and internalized. The better employees understand
an organization’s purpose, through its mission and vision,
the better able they will be to understand the strategy and
its implementation. Second, mission and vision create a
target for strategy development. That is, one criterion of a
good strategy is how well it helps the firm achieve its
mission and vision. To better understand the relationship
among mission, vision, and strategy, it is sometimes
helpful to visualize them collectively as a funnel. At the
broadest part of the funnel, you find the inputs into the
mission statement. Toward the narrower part of the funnel,
you find the vision statement, which has distilled down the
mission in a way that it can guide the development of the
strategy. In the narrowest part of the funnel you find the
strategy —it is clear and explicit about what the firm will
do, and not do, to achieve the vision. Vision statements
also provide a bridge between the mission and the strategy.
Third, mission and vision provide a high-level guide, and
the strategy provides a specific guide, to the goals and
objectives showing success or failure of the strategy and
satisfaction of the larger set of objectives stated in the
mission. we would expect to see profitability goals, in
addition to metrics on customer and employee satisfaction,
and social and environmental responsibility. Some of the
benefits of having a vision and mission statement are
discussed below:

Above everything else, vision and mission statements


provide unanimity of purpose to organizations and imbue
the employees with a sense of belonging and identity.
Indeed, vision and mission statements are embodiments of
organizational identity and carry the organizations creed
and motto. For this purpose, they are also called as
statements of creed. Vision and mission statements spell
out the context in which the organization operates and
provides the employees with a tone that is to be followed in
the organizational climate. Since they define the reason for
existence of the organization, they are indicators of the
direction in which the organization must move to actualize
the goals in the vision and mission statements. The vision
and mission statements serve as focal points for
individuals to identify themselves with the organizational
processes and to give them a sense of direction while at the
same time deterring those who do not wish to follow them
from participating in the organization’s activities. The
vision and mission statements help to translate the
objectives of the organization into work structures and to
assign tasks to the elements in the organization that are
responsible for actualizing them in practice. To specify the
core structure on which the organizational edifice stands
and to help in the translation of objectives into actionable
cost, performance, and time related measures. Finally,
vision and mission statements provide a philosophy of
existence to the employees, which is very crucial because
as humans, we need meaning from the work to do and the
vision and mission statements provide the necessary
meaning for working in a particular organization. As can be
seen from the above, articulate, coherent, and meaningful
vision and mission statements go a long way in setting the
base performance and actionable parameters and embody
the spirit of the organization.In other words, vision and
mission statements are as important as the various
identities that individuals have in their everyday lives. It is
for this reason that organizations spend a lot of time in
defining their vision and mission statements and ensure
that they come up with the statements that provide
meaning instead of being mere sentences that are devoid of
any meaning.
2. In consideration of the current economic needs
in our society, which aspect do you think
education and health should focus on in order to
maximize the human capita and ensure
productivity?

Human capital allows an economy to grow. When


human capital increases in areas such as science,
education, and management, it leads to increases in
innovation, social well-being, equality, increased
productivity, and improved rates of participation, all
of which contribute to economic growth. Increases
in economic growth tend to improve the quality of
life for a population. Poor countries tend to be
unhealthy, and unhealthy countries tend to be poor.
Across the broad swath of history, improvements in
income have come hand-in-hand with improvements
in health. Further, the poorest countries of the world
are in the tropics, an area rife with tropical disease.
These stylized facts lead to a natural question: does
disease hold back development? It seems possible
that it would. Health is a kind of human capital as
well as an input to producing other forms of human
capital. Being unhealthly depresses the ability to
work productively and/or the ability and incentives to
invest in human capital. Taken together, these
mechanisms imply that worse health implies lower
income. But is this enough to account for the
stylized facts above?

The correlation between health and development is


hard to interpret simply as the causal effect of
health on income. Third factors such as bad
government or geographic disadvantages might
impede both productivity and disease control. Health
is also a normal good: when people get richer, they
invest more in their own health, and exhort their
governments to spend more on public health. The
correlation between health and income might be one
of circular and cumulative causation: health affects
income and income affects health and so on.

This review is organized around the following


question: in the aggregate, how much does disease
depress income and human capital? The answer to
this question would help us understand the global
distribution of income and also inform us about the
rate of return on health policies.

I start with a review of micro-empirical studies,


where the evidence is most compelling, but less
tightly linked to the original question, and then move
to macro, where the evidence is less compelling, but
better linked to the original question. I discuss
evidence drawn both from developing countries
today and from the historical experience of now-
developed regions. The micro-empirical literature
that I review is somewhat disconnected from
economic theory, so I also use some stylized models
to sort things out. The models help determine if a
given result is of ‘first order’ importance, which is to
say whether health has, to a first approximation, any
effect at all on income.

I limit the scope of this review in a few ways. First,


this review is about income, not well-being. People
like being healthy, and so better health means better
well-being even if the improvement in health does
not increase income at all. Second, the review is not
a bibliography on this topic. Instead, I discuss and
critique examples of work that I group together by
mechanism and methodology. Third, the topic of this
review is economics, not biology. There are many
fascinating detours into biological mechanisms that I
could take, but the focus is instead on economic
outcomes, viewed through the lens of economics.
Fourth, this review considers the response of income
to a given improvement in health, but not how to
optimally design health programs. These features
hopefully make this article more complement than
substitute to existing reviews in this area.

Both theory and evidence suggest that we should


stop thinking of health as a univariate object.
Health’s impact on income likely depends on how
health changes (morbidity versus mortality, for
example) and when (childhood, working age, or old
age). Health is multifaceted, and must be treated as
such.

In Section 2, I consider effects of childhood health


on adult income. Early-life health could depress
human capital (broadly defined) and thereby reduce
lifetime income. Even if a person is perfectly healthy
as an adult, damage from childhood disease may be
hard to undo. Most of a person’s human-capital and
physiological development happens early in life.
Childhood is thus a key period for human-capital
building, and the burden of disease in childhood
could have effects that persist throughout the life
course. There may also be shorter ‘critical periods’
during childhood, by virtue of which some aspect of
human development is hampered if it does not take
place at a particular, biologically determined age.

These ideas find confirmation in four strands of the


literature, all of which estimate effects of some
aspect of childhood health (or input thereto) on adult
outcomes. One line of this literature finds a large
labor-market return to adult height, which is, to
some degree, a proxy of early-life health. A second
line looks at large shocks, such as famines and
epidemics and shows that time in the womb is a
critical period of sorts. A third set of studies shows
that nutritional deprivation early in life can have
long-term consequences. Finally, a group of papers
examines the effect of early-life exposure to tropical
diseases. But caution is indicated if applying many of
these results to the question at hand, in that various
studies examine a rapid shock interacted with a
narrow age window, which would have different
consequences than a persistent change in health.

Taking a step back, I discuss the economics of how


childhood health should affect adult income. I use a
simple model of human capital to integrate the
variety of outcome variables used in this literature. A
useful point of departure is the optimal choice of
years of schooling in the standard model: a child
should attend school until the marginal benefit
equals the marginal cost. Childhood health plausibly
affects both benefits and costs of schooling, so the
model implies that the impact of childhood health on
education is actually ambiguous. It is therefore
difficult to interpret studies that use time in school
as the only outcome.

Thinking about health and human capital in these


terms leads us to the ‘Envelope Theorem’. This
theorem implies that improvements in health affect
income by making human capital more productive,
but not via more investment. This means that
lifetime income would rise because childhood health
allows you learn faster and grow up stronger. Health
might also increase investments such as staying in
school longer, but the discounted change in lifetime
income from such investment is close zero if the
marginal benefits and costs of schooling were
already being equated. This analysis also affects
how we evaluate evidence of complementarity
across inputs to human capital, such as if early-life
interventions spur later investments. The Envelope
Theorem suggests that we should measure the
direct effect of the intervention; whether the other
inputs are substitutes or complements is of second-
order importance. (This argument should be familiar
to macroeconomists; it is analogous to the idea that
gains in income per capita come from total-factor
productivity, not from marginal changes in factors of
production.)

In Section 3, I discuss the effect of adult health on


adult productivity, via two distinct channels. The
first channel is the direct one: being sick today
reduces your ability to work today. One approach is
to measure the time lost to well-defined episodes of
sickness and disability. Indeed time lost to such
episodes in poor countries is non-trivial, although a
minor fraction of work hours. On the other hand, we
know less about more subtle effects of adult
sickness on income, such as reducing the quality of
the labor input via diseases whose symptoms are
less episodic. A second channel is more forward
looking: people invest more in childhood if their
human capital will not be idled by disease in
adulthood. There is considerable debate in the
literature on the effect of adult life expectancy on
years of education and, for example, whether this
effect is much greater than zero. However, this
channel is of second-order importance, by the same
logic as above: changing inputs that were already
optimized has no effect, to a first approximation, on
income.

Next, I explore the macro implications of the


estimates from the micro literature in Section 4. As a
point of departure, I discuss in Section 4.1 attempts
to extrapolate from micro estimate to the cross-
country gaps. Calculations suggest that improving
health in poor countries would raise income, but
these estimates range from a few percent to tens of
percent, depending on the intervention studied and
whether a narrow or broad measure of health was
used. By these extrapolations, improving health
would deliver large increases in income to unhealthy
regions, although the gap between rich and poor
countries is one or two orders of magnitude greater
than the gains estimated from the microdata.

Incorporating the response of population, which is


affected mechanically by mortality, can alter some
of these results, however. Reductions in mortality
brought about the majority of the increase in
population in the past two centuries (Preston, 1980).
Nevertheless, although lower mortality moves
population onto a new growth path, where this path
eventually settles depends on how fertility adjusts to
the change in health. In Section 4.2, I interpret some
recent studies within the quantity/quality framework,
but argue that more research on fertility is needed.
Then, tying these threads together in Section 4.3, I
analyze changes in human capital and population.
First, I review several calibration exercises. A
starting point for this exercise is to recognize that (i)
mortality restrains population growth and (ii) an
increase in population dilutes the per-capita supply
of non-labor factors. Several studies argue that this
combination can substantially attenuate—possibly
even reverse—gains in income that might otherwise
come from increases in human capital. This suggests
that the ‘Spectre of Malthus’ continues today. But
results based on sharply diminishing returns to labor,
which are in a sense calibrated from the 20th
century, may be less likely in the 21st. This is
because of two large changes: urbanization and
globalization, both of which make the economy less
dependent on the amount of land that is locally
available. I then discuss a few other issues in
extrapolating from partial to general equilibrium.

In Section 5.1, I discuss evidence from cross-country


comparisons in macroeconomic data. A large
literature examines the relation between GDP per
capita and proxies of health in a cross-section or
panel of countries. The main finding is essentially
the stylized fact that motivated this review in the
first place. These studies are typically well done,
given the methodological constraints. But the
constraints are non-trivial: it is difficult to know what
to make of the causality between these two
variables, and the use of a single proxy variable for
health muddles the policy relevance. Another
difficulty in interpreting cross-sectional estimates is
that we do not know the mechanism or timing with
which improving health affects output.

A smaller literature, described in Section 5.2, treats


the aggregate response to large health shocks. First,
I discuss within-country evidence from two studies.
Next, I turn to a recent paper by Acemoglu and
Johnson (2007) who examine, in a cross-national
panel, improvements in health technology in the 20th
century. They find that decreases in mortality were
followed by increases in population and concomitant
decreases in GDP per capita. This suggests that
returns to labor diminish rapidly, although it is hard
to square this result with observed shares of labor in
production. I then discuss recent criticisms of this
study. I also consider explanations for the different
results of these three studies, but argue that more
research of this sort is needed.

In Section 6, I offer conclusions from this review.


Whether we think of many of the estimates below as
large or small is, in some measure, a question of
perspective. In my judgment, the existing micro
literature does point to effects of (some types of)
health on output that are modestly sized. Note that I
mean ‘modest’ from the point of view of a
macro/development economist: the income gap
between Zambia and Sweden, for example, is very
large, and the micro estimates of health effects
explain only a small fraction of this difference. But
from the point of view of a micro/labor economist,
some of these estimates are quite large.

3. Cite requirements of a strategy of agricutural


and rual development. Briefly explain.

Citation requirements of a strategy of agricultural and rural


development are essential in ensuring the validity and
authenticity of information used in the formulation and
implementation of such strategies. Citing sources helps to
attribute ideas, data, and arguments to their original authors and
provides a solid foundation for evidence-based decision-making.
In this essay, we will explore the importance of citing sources,
the benefits it brings to a strategy of agricultural and rural
development, and some potential citation requirements that
should be considered.
Firstly, citing sources in a strategy of agricultural and rural
development serves to acknowledge and give credit to the
original authors or researchers who have contributed to the field.
This helps to maintain academic integrity and fosters a culture of
respect for intellectual property. Additionally, it allows readers,
policy-makers, and stakeholders to access the sources directly,
enabling them to further explore the topic, conduct their own
analysis, and strengthen the overall knowledge base.

Furthermore, citation requirements in agricultural and rural


development strategies facilitate transparency and enhance the
accountability of decision-makers. By providing a clear reference
list, it becomes easier for reviewers and evaluators to validate
the information used in the strategy and assess its reliability.
This is particularly crucial when strategies involve the allocation
of resources, implementation of programs, or initiation of policies
that directly impact the agricultural and rural sectors. Accurate
and reliable citations can also contribute to building trust
between stakeholders and help minimize potential conflicts or
disputes.

To ensure proper citation practices in a strategy of agricultural


and rural development, several requirements can be considered.
Firstly, all sources used, be it research papers, reports,
statistical data, or other forms of evidence, should be cited and
referenced appropriately. This includes providing accurate
details of the author(s), publication year, title, location, and other
essential information, depending on the citation style adopted.
The use of a consistent citation style throughout the strategy can
enhance its professionalism and clarity.

Moreover, citation requirements should also incorporate the


verification of the credibility and reliability of the sources used. In
the context of agricultural and rural development, relying on
peer-reviewed publications, reputable institutions, and
established research organizations can significantly enhance the
quality and validity of the information presented. By conducting a
thorough assessment of the sources' credibility, decision-makers
can minimize the risk of basing strategies on flawed or biased
information.

In conclusion, citation requirements play a vital role in a strategy


of agricultural and rural development. They ensure the
acknowledgement of original authors, maintain academic
integrity, enhance transparency, and contribute to the overall
validity and reliability of the strategy. By adhering to proper
citation practices, decision-makers can effectively build upon
existing knowledge, foster a culture of accountability, and create
a robust foundation for the development of sustainable
agricultural and rural policies and programs.
Agricultural and rural development is essential for the economic
growth and sustainability of a nation. It plays a vital role in
ensuring food security, reducing poverty, and fostering rural
prosperity. However, designing an effective strategy for
agricultural and rural development requires careful consideration
of various factors and the incorporation of certain requirements.
In this essay, we will discuss the primary requirements that a
strategy of agricultural and rural development should address.

Firstly, the strategy must recognize the importance of land and


natural resources in agricultural production. It should emphasize
sustainable land management practices, such as soil
conservation, water use efficiency, and reforestation. These
measures are crucial for preserving land fertility and ensuring
the long-term viability of agricultural activities. Additionally, the
strategy must also account for the conservation of biodiversity
and the protection of natural habitats to maintain ecological
balance.
Secondly, any strategy for agricultural and rural development
should aim to enhance access to credit and financial services for
farmers, particularly small-scale farmers. Availability of credit
enables farmers to invest in inputs, technology, and
infrastructure, thereby increasing productivity and income.
Furthermore, the strategy should encourage the establishment
of rural financial institutions that can cater to the specific needs
of farmers and offer them affordable credit options.

Thirdly, the strategy should prioritize investments in agricultural


research and development. This entails promoting scientific
research, innovation, and technology adoption in the agricultural
sector. By investing in research and development, the strategy
can facilitate the introduction of advanced farming practices,
crop varieties with improved yields and resilience, as well as the
use of modern machinery and automation. This, in turn, will
boost productivity, reduce post-harvest losses, and enhance the
competitiveness of the agricultural sector.

Fourthly, an effective strategy for agricultural and rural


development must place a strong emphasis on capacity building
and knowledge transfer. It is essential to empower farmers with
the necessary skills and knowledge to adopt modern farming
techniques and improve their productivity. This can be achieved
through various means, such as training programs, knowledge
sharing platforms, and extension services. Additionally, the
strategy should also focus on improving the education and
healthcare facilities in rural areas to enhance the overall well-
being and quality of life for rural communities.

Fifthly, the strategy should promote market-oriented agriculture


and facilitate market linkages for farmers. Providing farmers with
better access to markets, both domestic and international, is
crucial for improving their income and promoting rural economic
growth. Therefore, the strategy should facilitate the development
of efficient marketing channels, infrastructure, and logistics to
enable farmers to reach out to consumers and receive fair prices
for their produce.

Lastly, a successful strategy for agricultural and rural


development must ensure the inclusivity of all stakeholders,
particularly marginalized groups such as women, youth, and
indigenous communities. It should aim to address their specific
needs and challenges, provide them with equal opportunities,
and involve them in decision-making processes. By promoting
gender equality and social inclusion, the strategy can help
create a more equitable and sustainable agricultural sector.

In conclusion, designing an effective strategy for agricultural and


rural development involves addressing several requirements.
These include sustainable land management, access to credit
and financial services, investment in research and development,
capacity building and knowledge transfer, market-oriented
agriculture, and inclusivity. By incorporating these requirements,
a strategy can pave the way for a prosperous and sustainable
agricultural sector, leading to rural development and overall
economic growth.

3. Global warming and climate change have been a


constant threat and countries have exerted
effort preparing citizens on foreseen situations,
which do you think the government is quite weak
in the preparation and how do you think the
mitigation and adaptation program be enhanced?

Although balancing between mitigation and


adaptation strategies is still considered at
international and national level in different sectors,
it displays some important linkages at project level
in building sector. IPCC TAR concluded that
appropriate optimization between mitigation and
adaptation will be a long and boring process and the
optimum mix of response options will vary by time
and country (place) as local conditions and costs
modify (Richard J.T. Klein et al., 2003). Some central
shortcoming of optimizing mitigation and adaptation
strategies at the project level are, namely,
uncertainty, irrespective of the diversity of economic
values and preferences within and between society,
equity or fairness for distributional cost of impacts
(burden sharing), and local conditions. Richard J. T.
Klein et al. (2003).

In the absence of perfect information, a number of


alternative mixes of mitigation adaptation and
mitigation strategies may be proposed which differ
in their economic, social and environmental impacts.
For instance, while one option may be equitable and
environmentally suitable, it might be cost-effective
than other options, although less environmentally
and socially acceptable.

These authors present to identify which mix or mixes


of options are justifiable, some multi-criteria
framework needs to be designed with which one can
capture, quantify and compare the direct and
dependent effects of application of each of these or
other possible criteria. Other scholars like Arrow et
al. (1996) and Tóth et al. argues that balancing
between mitigation and adaptation will be
challenging because of some unique characteristic
issues such as long time horizons; non-linear and
irreversible effects; social economic; geographic
differences amongst affected parties and global
nature of problem.... Climate change is a long-term
alteration in the statistical distribution of weather
pattern over periods ranging from decades to
millions of years. The world is currently experiencing
drastic change in temperature. This change can be
felt in the tropical climate areas where the weather
is getting hotter and hotter every day. The change in
global temperatures and precipitation over time is
due to natural variability or to human activity. It is
also caused by accumulation of greenhouse effects
(Arrhenius, 1896). Should we as humans let this
problem worsen? Climate change will affect
everything including humans, flora and fauna, and
the environment.;;; Over the course of recent history,
much concern has been raised over the industrial
revolution and the potential climate changes that it
might be causing. It has been stated by global
warming theorist that C02 emissions caused by
human technologies are causing the world to warm,
which will cause negative climate changes. The
Earth may be experiencing a global warming trend
and climate change; however, the process of climate
change is outside of human control because human
activity can barely account for any of the C02 level
increases. Attempts to reduce human C02 emissions
is needlessly expensive, and will have a negligible
role in preventing or slowing any climatic changes
such as global warming or an impending ice age.
People must be prepared to adapt to the climatic
changes that occur, because it is unlikely that
human intervention will postpone them or limit the
impact of their arrival.

5. On the increasing population rate, how should the


government settle on quality and equality pertaining
to opportunities in education, health and job market?
*
In recent decades, the global population has experienced
unprecedented growth, posing significant challenges for
governments worldwide. As the population continues to
increase, ensuring both quality and equality of
opportunities in education, health, and the job market
becomes paramount for sustainable development and
social cohesion. To address these daunting tasks,
governments must adopt comprehensive strategies that
prioritize investment in these key sectors, foster inclusivity,
and promote equitable distribution of resources.

Addressing the challenges posed by the increasing


population rate requires governments to focus on
promoting equality in the job market as well. Creating an
enabling environment for job creation and fostering
entrepreneurship is vital. Governments should collaborate
with the private sector to attract investments, particularly
in sectors with growth potential, aiming to generate a
diverse range of employment opportunities. Additionally,
governments should ensure that labor laws protect
workers' rights, provide fair wages, and promote workplace
diversity and inclusion, so that all individuals, regardless of
their background, have equal access and opportunities for
career growth.

To ensure fairness and equity in resource distribution,


governments should implement policies that prioritize
regions with greater need. Developing and implementing
robust social welfare programs can help bridge the gap
between the rich and the poor, providing essential support
and necessities to those who are most vulnerable. Cash
transfer programs, affordable housing initiatives, and
subsidized healthcare services are examples of such
measures that can alleviate inequalities and promote social
cohesion.
as the global population continues to rise, it is imperative
for governments to prioritize quality and equality in
education, healthcare, and the job market. This can be
achieved through strategic investments, fostering
inclusivity, and ensuring equitable resource distribution.
By addressing these crucial areas, governments can create
a society where individuals have equal opportunities to
thrive, fostering sustainable development and social
harmony for future generations. The increasing population
rate poses significant challenges for governments across
the globe. Alongside this growth, providing quality and
equal opportunities in education, health, and the job
market is crucial for sustainable development and societal
well-being. In this essay, we will discuss how governments
can effectively address these challenges and ensure that all
individuals have access to these essential opportunities.

Additionally, promoting equality and quality in the job


market requires governments to implement policies that
foster inclusivity and address unemployment. Job creation
initiatives, such as the promotion of entrepreneurship and
small businesses, can help increase employment
opportunities. Governments should actively seek to
eliminate discrimination in hiring practices and provide
training programs to equip individuals with the relevant
skills needed for the job market. Furthermore, efforts
should be made to bridge the gender wage gap and ensure
equal opportunities for women and minorities in the
workforce. Policies that promote work-life balance and
support flexible working arrangements can also improve
job satisfaction and enhance the overall quality of work.

In conclusion, addressing the challenges posed by the


increasing population rate requires governments to
prioritize quality and equality in education, health, and the
job market. By investing in these sectors, governments can
provide individuals with equal opportunities to develop
their skills, access healthcare services, and find meaningful
employment. Such measures are essential for fostering
sustainable development, reducing social inequalities, and
ensuring the overall well-being of the population.

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