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Quiz 2 :

National Differences in Political, Economic, and Legal Systems

Quiz 2 :

National Differences in Political, Economic, and Legal Systems

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How was Poland able to avoid the worst effects of the economic crisis that gripped most of Europe during 2008-2009?
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Poland in the early 2000s had a very tight fiscal policy. This was partially to keep inflation down so that their admittance to the European Union would be approved. As a result they did not have the big property bubble that was found in the other nations around. Ironically they had been earlier criticized for this very policy.
Also in 2009, Germany, their neighbor and largest trading partner, had a stimulus program which resulted in a boom in Poland's economy since the Germans wanted more cars and car parts from Poland. Poland had the factories to manufacture those cars.

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National Differences in Political Economy Use the globalEDGE™ site to complete the following exercises: One way that experts analyze conditions in emerging markets is through the use of economic indicators. The Market Potential Index (MPI) is a yearly study conducted by the Michigan State University Center for International Business Education and Research (MSU-CIBER) to compare emerging markets on a variety of dimensions. Provide a description of the indicators used in the index. Which of the indicators would have greater importance for a company that markets laptop computers? Considering the MPI rankings, which developing countries would you advise such a company to enter first?
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The Market Potential Index (MPI) rates emerging markets on eight critical criteria. These are:
1) Market Size
2) Market Growth Potential
3) Market Intensity
4) Market Consumption Capacity
5) Commercial Infrastructure
6) Economic Freedom
7) Market Receptivity
8) Country Risk
Different factors are used to measure these eight indicators, each of which has a different weightage in determining the overall result.
Dimensions and Measures for Market Potential Index
(Source: globalEDGE TM website - Market Potential Index)
img One is seeking to use this MPI to determine which of these indicators is of the greatest importance to market laptop computers. These would be:
1) Market Size
2) Market Growth Potential
3) Market Intensity
4) Market Consumption Capacity
5) Commercial Infrastructure
Considering these factors and the data for 2013 as published on the website the first five developing countries to be targeted would be:
1) China
2) India
3) South Korea
4) Russia
5) Brazil

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What are the main features of a mixed economy?
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Many socialistic countries like India, France and Brazil have tried to have mixed economies where there was a mix of state owned enterprises and private enterprises. Even in Great Britain at one time most of the major industries like telecommunications, rail, coal, electricity and gas were state owned while the state had a major interest in oil and airlines.
In these economies at times certain private industries that are struggling are given a helping hand by the government who has taken over these industries to prevent a national catastrophe. Latest example was the takeover of AIG by the US government who also took a stake in GM and Chrysler to help them get over a difficult period.
Over the years it has been found that even in these economies the state-owned enterprises do not do well since they are funded by the state and have no incentive to be more efficient. In fact in many countries these have either been privatized or at least the state has divested a major portion of its share in those enterprises which are doing well.

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What is the impact of high levels of corruption on economic growth in a nation?
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Even though Poland has been committed to liberalizing its economy since the collapse of communism in 1989, significant vestiges of the old system still remain. Why do you think it has taken Poland so long to transform its economic, political and legal system?
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National Differences in Political Economy Use the globalEDGE™ site to complete the following exercises: The definition of words and political ideas can have different meanings in different contexts worldwide. In fact, the Freedom in the World survey evaluates the state of political rights and civil liberties around the world. Provide a description of this survey and a ranking (in terms of "freedom") of the world's leaders and laggards. What factors are taken into consideration in this survey?
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Free market economies stimulate greater economic growth, whereas state-directed economies stifle growth. Discuss.
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What is the relationship between corruption in a country (i.e., government officials taking bribes) and economic growth? Is corruption always bad?
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What lessons can be derived from the Polish experience during 2008-2009?
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From the perspective of international business, what is attractive about the Polish economy? What are the weaknesses and risks associated with doing business there?
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What are the main features of a market economy?
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In general, what types of political, economic, and legal systems are most supportive of international business activity?
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What is the goal of the Foreign Corrupt Practices Act in the United States?
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What are the main features of a command economy?
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A democratic political system is an essential condition for sustained economic progress. Discuss.
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What implications do differences in political, economic, and legal systems have for managers in an international business?
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What are the differences among common law, civil law, and theocratic law?
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What are the central beliefs of collectivism?
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What are the central beliefs of individualism?
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What is the connection between collectivism and socialism?
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