Industrialization
IndustrializationBy: Group 5 MLS 2D
What is Industrialization?Industrialization is the process in
which a society or country (or world) transforms itself from a
primarily agricultural society into one based on the manufacturing
of goods and services.
Significance of Industrialization in Economic Development of the
countryIncrease in national incomeHigher standard of livingEconomic
stabilityImprovement in balance of paymentsStimulates progress in
other sectorsIncreased employment opportunitiesPromotes
specializationRise in agricultural production
9) Easy to control industrial activity10) Large scope for
technological progress11) Reduction in the rate of population
growth12) Increased saving and investment13) Provision for
defense14) Lesser pressure on land15) Development of market16)
Increase in the government revenue
Types/ Forms of Industries Manufacturing industriesEnergy-Based
industriesAgro and Forest-Based industriesMineral industriesTourism
industriesService industriesConstruction industries
Causes of IndustrializationNatural ResourcesGrowing
PopulationImproved TransportationHigh ImmigrationNew
InventionsInvestment Capital
Effects of IndustrializationPositive EffectsEducation Modern
InventionsA regular persons overall lifeNegative
EffectsUrbanizationChild LaborConditions in coal mines
The Formula for GNP is:
Gross National Product= Consumption + Government Expenditures
+Investments+ Exports + Foreign Production by U.S. Companies
Domestic Production by Foreign Companies
GNP= C+GE+I+E+FP (by U.S. Companies)-DP (By Foreign
Companies)
Formula for GDP is:Growth Domestic Product= Compensation of
employees + Rent + Interest + Proprietors Income + Corporate
Profits + Indirect business taxes + Depreciation + Net foreign
factor income
GDP= CE+RENT+I+PI+CP+IBT+D+NFFI
The Philippines has averaged a GDP growth of 3.1% over the past
25 years.The best it ever did was 8% - and that for only 1 year
(1976). From time to time it hit 5%, but couldnt sustain it.
Political crises were the main "pull-down" factor, but so too were
the economy is structural and physical weaknesses.
Industrialized
CountriesAndorraAustraliaAustriaBelgiumCanadaCzech
RepublicDenmarkEstoniaFinlandFranceGermanyGreeceHong Kong,
ChinaHungaryIcelandIrelandIsraelItalyJapanLithuaniaLuxembourgNetherlandsNew
ZealandNorwayPoland
PortugalRepublic of KoreaSan
MarinoSlovakiaSloveniaSpainSwedenSwitzerlandTurkeyUnited
KingdomUnited States of America
25-YEAR AVERAGE GDP GROWTH OF SELECTED ASIAN
COUNTRIESChina................. 9.7%Korea.................
7.8%Singapore........... 7.7%Malaysia.............
6.8%Thailand............. 6.5%Indonesia........... 5.4%Philippines
......... 3.1%And some of them have hit 9% averages for up to 9
years. Even during the Asian Financial Crisis most did better than
the Philippines 25 year average.Worse, if you look at it on a
compounded basis, calculating from a base of 100 in 1976 then China
has grown 5 times more than the Philippines, Thailand (the country
we can most reasonably compare with) has grown at least two times
more. And on a per capita basis, the Chinese have become 7 times
richer than Filipinos, and the Thais 3 times.
