Economics System and Development ប្រព័ន្ធសេដ្ឋកិច្ចនិងការអភិវឌ្ឍន៍ Chapter 4 Economics System and Development ប្រព័ន្ធសេដ្ឋកិច្ចនិងការអភិវឌ្ឍន៍ Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall

Economic Systems ប្រព័ន្ធសេដ្ឋកិច្ច Centrally Planned សេដ្ឋកិច្ចផែនការ Mixed សេដ្ឋកិច្ចចំរុះ Market សេដ្ឋកិច្ចទីផ្សារ Government ownership of economic resources and state planning Mostly private (individual or business) ownership of economic resources Government and private ownership of economic resoures Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Centrally Planned Economy សេដ្ឋកិច្ចផែនការ Asia Central Europe Eastern Europe Latin America Russia (1917) China (1949) Cuba (1959) Government owns most land, factories, and other economic resources and plans nearly all economic activity Welfare of the group is paramount​ (ឧត្ដុង្គឧត្ដម) Economic and social equality is the goal “Communist” system is needed Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Decline of Central Planning ការធ្លាក់ចុះនៃសេដ្ឋកិច្ចផែនការ Central planning failed to: ការបរាជ័យនៃសេដ្ឋកិច្ចផែនការ Create economic value ការបង្កើតតម្លៃសេដ្ឋកិច្ច Provide incentives ការលើកទឹកចិត្ត Achieve rapid growth ល្បើនការលូតលាស់ Satisfy consumer needs បំពេញចិត្តតម្រូវការអតិថិជន Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Focus on China Socialism with Challenges ahead: Chinese characteristics: សង្គមនិយមដែលមានលក្ខណៈពិសេសរបស់ចិន Communist after civil war ended in 1949 Agricultural reforms began in 1979 Township and Village Enterprises legal in 1984 Aggressive reform since that time Challenges ahead: បញ្ហាប្រឈមនៅពេលខាងមុខ: Political problems and social unrest (ភាពចលាចល) Unemployment and migrant labor Eventual reunification with Taiwan Advanced entrepreneurial and management skills Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Mixed Economy សេដ្ឋកិច្ចចំរុះ Government and private parties share ownership of land, factories, and other economic resources rather evenly Goals គោលបំណង: Stagnant ភាពទ្រឹង: State-owned businesses uncompetitive (អាជីវកម្មរបស់រដ្ឋមិនអាច ​ ប្រកួតប្រជែង) Prices and taxes higher, living standards mixed Privatized state firms to boost competitiveness Low unemployment and poverty Steady economic growth Equitable distribution of wealth Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Market Economy សេដ្ឋកិច្ចទីផ្សារ Private parties (individuals or businesses) own vast majority of land, factories, and other economic resources Supply ការផ្គត់ផ្គង់ Quantity of a good or service that producers are willing to provide at a specific selling price Demand តម្រូវការ Quantity of a good or service that buyers are willing to purchase at a specific selling price Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Laissez-Faire Economics សេដ្ឋកិច្ច លែលសេហ្វែរ Less government interference in commerce ការជ្រៀតជ្រែករបស់រដ្ឋាភិបាលតិចតួចនៅក្នុងពាណិជ្ជកម្ម Free choice សេរីភាពនៃការេជ្រើសរើស Consumers choose freely from alternative purchase options Free enterprise សេរីភាពសហគ្រាស Firms decide which products to sell and markets to enter Price flexibility ភាពបត់បែនថ្លៃ Most prices follow the forces of supply and demand Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

International Business 5e Government’s Role in a​ Market Economy (តួនាទីរបស់រដ្ឋាភិបាលក្នុងសេដ្ឋកិច្ចទីផ្សារ) Enforce antitrust laws (ការពង្រឹងការអនុវត្តច្បាប់ប្រឆាំង) Preserve property rights (ការពារច្បាប់កម្មសិទ្ធិបញ្ញា) Provide fiscal and monetary stability (ផ្តល់នូវស្ថេរភាពសារពើពន្ធនិងរូបិយវត្ថុ) Preserve political stability (រក្សាការពារស្ថិរភាពនយោបាយ) Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Enforce Antitrust Laws ការពង្រឹងការអនុវត្តច្បាប់ប្រឆាំង Encourages development of industries with as many competing businesses as market will sustain លើកទឹកចិត្តដល់ការអភិវឌ្ឍនៃឧស្សាហកម្មជាមួយការប្រកួតប្រជែងអាជីវកម្មជាច្រើនដើម្បីឲ្យទីផ្សាររស់បាន Keep​ stable for consumer prices (រក្សាតម្លៃទំនិញប្រើប្រាស់ឲ្យមានស្ថេរភាព) Prevents growth-stunting monopolies (ការពារកំណើនសេដ្ឋកិច្ចតាមរយៈទីផ្សារផ្ដាច់មុខ) Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Preserve Property Rights ការពារច្បាប់កម្មសិទ្ធិបញ្ញា Encourages risk-taking by people and business as claims to assets and future earnings are protected លើកទឹកចិត្តឱ្យទទួលយកដោយហានិភ័យនិងអាជីវកម្មដោយមនុស្សនិងអជីវកម្មអាចទាមទាយកទ្រព្យសម្បត្តិនិងសំណងប្រាក់ចំណេញនាពេលអនាគតគឺត្រូវបានការពារ Market economy needs strong property rights​ (សេដ្ឋកិច្ចទីផ្សារត្រូវការសិទ្ធិកម្មសិទ្ធិបញ្ញា) Entrepreneurs start new businesses (សហគ្រិនចាប់ផ្តើមអាជីវកម្មថ្មី) Firms create new technologies and products (ក្រុមហ៊ុនបង្កើត បច្ចេកវិទ្យានិងផលិតផលថ្មី) Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

International Business 5e Provide Fiscal & Monetary Stability ផ្តល់នូវស្ថេរភាពសារពើពន្ធនិងរូបិយវត្ថុ Encourages commerce in a nation because it improves its reputation as a place to do business Fiscal policies (taxation, government spending) Monetary policies (money supply, interest rates) Reduces overall uncertainty Improves business forecasts Low inflation and unemployment Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Preserve Political Stability រក្សាការពារស្ថិរភាពនយោបាយ Encourages businesses to engage in activities without fear of disrupted future operations Promotes economic growth generally Reduces worries of political risk Improves chances for business survival Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Economic Freedom & Wealth សេរីភាពនិងសុខមាលភាពសេដ្ឋកិច្ច Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Economic Development ការអភិវឌ្ឍន៍សេដ្ឋកិច្ច Economic well-being of one nation’s people relative to another nation’s people Economic output (agricultural, industrial, service) Infrastructure (communications, transportation, power) People (physical health, education level) Productivity is key Ratio of outputs (that are created) to inputs (resources used to create output) Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

International Business 5e National Production GDP is the value of goods and services that a nation produces during a one-year period (GNP adds international activities) Potential problems Purchasing power parity Overlooks certain transactions Ignores economic growth rates ​ May ignore purchasing power Relative ability of two countries’ currencies to buy the same “basket” of goods in those two countries Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

International Business 5e National Wealth at PPP PPP Estimate of GDP per Capita GDP per Capita Country (U.S. $) (U.S. = 100) United States 39,700 39,700 Switzerland 47,900 34,700 Australia 32,400 32,400 Canada 30,600 31,800 United Kingdom 35,600 30,800 Japan 36,500 29,600 Czech Republic 10,600 18,600 Hungary 10,000 15,900 Mexico 6,600 10,200 Turkey 4,200 7,600 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Human Development Index សន្ទស្សការអភិវឌ្ឍន៍ធនធានមនុស្ស Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Classifying Countries ​ចំណាត់ថ្នាក់របស់ប្រទេស Developed Country ការអភិវឌ្ឍន៍ប្រទេស Emerging Market ភាពរីកចំរើនទីផ្សារ Newly Industrialized Country ប្រទេសឧស្សាហ៍កម្មថ្មី Developing Country ប្រទេសកំពង់អភិវឌ្ឍន៍ Highly industrialized, highly efficient, and whose people enjoy a high quality of life Newly industrialized countries plus those with potential to be newly industrialized Recently greater national production and exports from industrial operations Poor infrastructure and extremely low personal income Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Economic Transition ការផ្លាស់ប្តូរសេដ្ឋកិច្ច Fundamental reorganization of an economy and the creation of new free-market institutions Reforms include: Reduce budget deficits and expand credit Allow the “price mechanism” to determine prices and economic activity Legalize private firms and privatize state-owned assets within a property rights framework Remove barriers to trade and investment and eliminate currency controls Ensure social-welfare system to ease transition Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e

Obstacles to Transition ឧបសគ្គក្នុងការផ្លាស់ប្តូរ Capital Shortage ខ្វះខាតនៃមូលធន Lack of managerial Expertise ខ្វះជំនាញបច្ចេកទេស Environmental Degradation ភាពរិចរិលបរិស្ថាន Cultural Differences ភាបខុសគ្នានៃវប្បធម៌ Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e