Saving and Investment Are Often Viewed as Among the Sources

question 126

Essay

Saving and investment are often viewed as among the sources of economic growth.Why are saving and investment more of a challenge in developing countries than in developed countries?

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Definitions:

Power Distance

The extent to which people in different societies accept the way power is distributed.

Hofstede's Dimensions

A framework for understanding and comparing national cultures across six dimensions: power distance, individualism vs. collectivism, masculinity vs. femininity, uncertainty avoidance, long-term orientation, and indulgence vs. restraint.

Fragmented Culture

A situation in which a workplace or community is divided into separate and often conflicting groups with differing values or beliefs.

Socializing

The process of learning and adapting to organizational norms, values, and cultures by individuals or groups.