IndexAbstractIntroductionInequality in IndiaInequality in South KoreaInequality in GuyanaMain Helpman Arguments and Influence on Economic PerformanceSummaryThe economy of countries around the world varies significantly in terms of growth and equality. Economic disparity will be explored in three different countries. These countries include India, Korea and Guyana. The effects of inequality in economic growth and performance reach even the most remote citizens of each of the countries discussed. The efficiency of economic performance for citizens is determined by the reform channels employed by the governments of each of these countries. Elhanan Helpman's economic theories and findings will be examined and the implications for these countries will be examined, using data to describe economic outcomes. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay IntroductionEconomic inequality harms the development of growing and established countries around the world. A country's economic performance will impact growth and inequality for businesses, government and citizens in each country. These performances not only affect the success and survival of the individual country, but also impact the economic status of the performance in the global financial environment. When there is less amount of wealth in fewer hands, inequality is intrinsic to the country's economic stability. The impact on the overall economy is far-reaching for all people in the state or country, and even the entire world. In the situation of an underdeveloped or unequal economy, the financial state of a country is described by the amount of low per capita income of citizens. The incorrect distribution of income and wealth in a country will cause the problem of poverty and economic inequality to become a serious obstacle to the economic balance and growth of a country. Economic inequality is closely related to reduced economic growth as the population's increasing income concentration is part of a smaller portion of the global population. It is the necessary responsibility of economic and political theorists and activists to review the problems related to financial success and death in all countries. After a thorough analysis of the economic state, institutions must create and implement theories on methods to bring about improvements at all levels of financial classes. Finally, implemented theories must be reviewed and modified as needed to continue to meet the needs of the public and private sectors of economic industries. Problem-solving methods first begin with questioning the current state of financial planning success and failure. Each country's institutions must start by assessing the territory's population and work their way up. This evaluation process will allow economists to formulate questions to gain understanding and create future change and progress in their homeland's financial security. Therefore, questions that need to be answered include: What is the effect of inequality in economic growth and performance on each country? How does the economic development of each country influence the living conditions of its citizens? What are the economic channels used by governments? ensure growth and equality within the country and global economic systems? How Helpman's Theories Influenced Economic Growth and State Improvement to Create Equality for Countries Around the Worldworld? These research questions have been explored and continue to influence state economic development around the world. The results will show the progress and implications for the countries of India, Korea and Guyana. The economic implications will be explored by demonstrating empirical evidence showing the correlation between successful conditions and desperate conditions of inequality and growth for countries. Next, possible explanations will be explored in examining the evidence for each country. Finally, Helpman's economic performance theories will be explored in the link on the status of economic reforms adopted in these countries. Data, descriptions, and explanations will be used to explain and demonstrate the findings of these research questions. Inequality in India As the seventh largest economic power in the world, India has enjoyed economic success through the export of various products and agriculture to countries around the world. However, the status of his people was a different experience than that observed by outsiders. India has the third largest purchasing power in the world. India is classified as a newly industrialized country and a major G20 economy with a growth rate of around 7% over the last 20 years (International Monetary Fund (IMF), 2014, 1). These growth rates can be found in many states across the country. In the city of Mahashtra, the GDP has been estimated at a rate of $250 billion. While in Tamil Nadu the GDP stood at an average of 150 billion dollars. Finally, the Uttar Pradesh city had a GDP of $130 billion in 2015 (DailyNewsAnalysis, 2015, 1). These growth rates surpassed the economic growth status of the superpower country of the People's Republic of China in 2014. According to the IMF (2014), the Indian economy has developed the potential to become one of the two largest economies in the world by mid-to-mid. -21st century (2). The implications of this economic development for India can lead to an improvement in world trade ranking: agriculture (17%), automotive industry (29.7%) and e-commerce growth markets (45%) (CIA , 2016, p. 1). . The long-term growth outlook of this economy has grown positively largely, in part, thanks to the young generations of this growing country. Young people have experienced low dependency ratios, healthy savings and investment rates, and increasing integration into the global economy (CIA, 2). The economic trends and problems experienced in India do not match the growth and progress seen on paper around the world. net. The influence of financial reality on Indian citizens is not as positive or glamorous as it seems. The reality of the common citizen in India is full of desperation, poverty and anguish while people in the upper crust of society continue to prosper. The reforms that have helped India's economy grow and develop over the past 20 years have impacted even this country's poorest citizens. Income inequality doubled during this time period. Since 1991, the country's continuing liberalism has shifted India's economy towards a market-based economy (Gargan, 1992, 1). Financial policies were influenced by the combination of protectionism, import substitution, Fabian socialism, and social democratic government policies (Gargan, 2). After the period of installation of these economic influences, India began to experience a serious decline in the equality of economic stability within the lower demographic groups of its society. Garan notes in 1992 that India's economy was characterized by several descriptions that offered a bleak vision of development for citizens infinancial difficulty. In the various communities of India, the government has offered extensive regulation of their programs for the economy. With these rules the Indian government has hindered its people. Furthermore, the government offered protectionism and public ownership of large business monopolies across the country. Protectionism and public ownership have prevented the common man from participating in financial growth or capital gains, keeping him in the midst of poverty. India has also experienced rampant corruption across the various agencies of its government. The special interests of the country's powerful and elite people drive the changing rules to support the systems that have evolved to meet the needs of these growing interest groups. The social spending experienced in India has gone out of control. This spending has led to virtual theft from the population, policy changes aimed at hindering the growth and expansion of low-income families, and ultimately redirecting the path to financial success for all people living in India. As a result of elitist systems, corruption has harmed the people of India, physically, socially and financially. Finally, India's economic performance has seen a slow growth in the status of people and equality of government. With the economic management of institutions in India, it was inevitable that the economy would decline and eventually start to fail. This economic failure has been seen across the country and among the people. The market-based economy now experienced a rising fiscal deficit as a percentage. In 2009, India's fiscal deficit stood at 5.9%. In 2010, the deficit rose at the high rate of 6.5%. Reflecting the fiscal deficit, unemployment rates increased from 4.7% nationwide in 2013, an increase from the 3% observed in 2012 (Governor of India, 2013, 6). The implications of these alarming statistics harm the people of India due to the strong and growing regional variations across states in terms of poverty, infrastructure, housing and socioeconomic availability. These variations affect people's health, death and living conditions on a daily basis, leaving the population with little hope of progress and improvement. Inequality in South Korea South Korea is often considered the ugly stepchild of North Korea's growing economic growth and success. According to the East Asia Forum (Koo, 2014), South Korea's president, Park Geun-hye, has promised to rebuild the middle class and increase its size to 70% of society (1). This pledge was part of the 2012 election campaign's power pact to rebuild the ailing South Asian country. South Korea has continued to experience major political discourse with economic polarization with a declining middle class (1). Koo (2014) notes that economic change began in the mid-1990s, as part of the major turning point of the Asian financial crisis. This financial crisis came to South Korea in 1997 (p.2). The consequences of this financial crisis were devastating for the ordinary citizens of the small country. The government sacrificed the process of economic growth for the social policy that South Korea implemented to gain the respect of the superior northern country of North Korea. The once gainfully employed Korean middle class began to experience a sharp decline in the livelihoods of the working population. Citizens began to experience economic and social difficulties in the face of the productivist regime. Some of the consequences of the capitalist system included dismissal or early retirement of South Korean workers. These twodifficult situations have significantly increased the low-income and impoverished population. The next step down in the failing economy included business failures and downward mobility. These inequalities have begun to undermine the social and economic stability often enjoyed in more organized and democratic societies (Koo, 2014, 2). The precarious economic conditions of the large middle class have had an impact on the development of infrastructure in the middle and lower classes of the economic status of society. These deficits have destroyed South Korea's impoverished population and led to middle-class citizens experiencing poverty. For some, it was the first time in their lives that they began to feel the weight of poverty. However, the consequences of the financial crisis were uneven across the country (Koo, 2014, 2). While South Korea's working class suffered in all areas of life, financially stable citizens took advantage of markets with limited credit opportunities. This helped the rich become even richer than before. The consequences of the devastating decline in global trade markets and employment became increasingly evident during and after the economic crisis of the 1990s. The implications are observed in the following inequality measure. According to the average Gini coefficient of South Korea, the financial coefficient produced the following statistics demonstrating the decline of economic stability (Koo, 2014, 2). In the years 1990-1995, South Koreans experienced an economic decline at a rate of 25% over a five-year period. In 1999, the collapse of the country's economy continued at the rate of 29% since 1995. Within ten years, the economic failure rate increased to an average of 32%. The rising percentages confirm the economic decline that South Korean citizens have experienced over twenty years. Koo (2014) models declining economic stability and growing inequality starting two years after the start of the financial crisis (3). While the population felt the pain of faltering economic decline, people also felt the struggle with income distribution. This effect of economic failure goes hand in hand with the economic instability of the wage rate of the population of South Korea. The same trend can be observed in the income distribution of the share held by the richest 10% of income holders divided by that of the poorest 10%, which increased from 3.30% to 4.9% in 1990 through 2010. By 2012, income inequality increased to 16.6% among higher income structures and populations in poverty (Koo, 2014, 3). Capitalist government generates indeterminate and unsustainable inequalities in the country's social and economic status. The enormous increase in economic inequality over two decades demonstrates how populations have become further separated from financial success and impoverished life experiences. The differences experienced for these extreme socioeconomic classes are demonstrated in the overall value of the country's financial wealth. In South Korea, as in most societies, wealth inequality is much greater than labor income inequality. In 2012, the richest 10% of the population owned 46% of the country's total wealth. The poorest 50% of society owned only 9.5% of the country's wealth (Koo, 2014, 5). The main sources of growing income inequality occur in conjunction with the transformation of South Korea's neoliberal economy (Koo, 2014, 5 ). The reform of this labor market has produced a large deficit among regular employees and amongworkers with differentiated occupations. The working class has become divided and this is reflected in the economic inequality of South Korea. Inequality in Guyana Guyana's economy can be described, at best, as moderate. The major factor contributing to the growth rate of the economy in Guyana is attributed to agriculture and extractive industries. According to Forbes magazine (2015), the small Latin American country is heavily dependent on the export of six commodities for its economic security. These products include; sugar, gold, bauxite, shrimp, timber and rice. The export of these products represents 60% of the country's GDP (1). Guyana's entry into the Caricom Single Market and Economy (CSME) in January 2006 expanded the country's export market, primarily in the raw materials sector (1). Unfortunately, climate has a great influence on the success or failure of growing, producing and selling their limited resources. Since its entry into the CSME, Guyana has recorded positive growth every year for the past decade. This growth is seen in the amount of debt reduced significantly since the early 1990s. Additionally, inflation has been kept under control for the small agricultural country. Despite the improvements and progress experienced in Guyana, they have had chronic problems that have contributed to the demise of their economic status in the world economic arena. The problems experienced in Guyana that continue to impact the end of economic growth include several factors (Forbes, 2015, 1 ). One of the factors that influenced the economic development of the small Latin country was the considerable foreign debt with other countries. The debt has dried up the minimum resources needed by the population. In addition to rising debt, the country urgently needed more public investment. However, with the end of economic status, the possibility of public investment was minimal at best. Since Guyana has an agricultural-based economic structure, skilled labor has become a necessity for progress and growth. In the decline of the economy, the shortage of skilled labor has produced continued economic failure in the production and sale of its marketable agricultural products. Along with problems related to growing debt and a shortage of skilled labor, housing and infrastructure shortages produce difficult conditions for impoverished citizens (Forbes, 2015, p.1). The worsening of living conditions has aggravated growing health problems, especially for young and old people. These conditions are evident in the state of the country's GDP over time and in the debt-to-GDP ratios experienced with other countries. For example, in March 2007, the Inter-American Development Bank canceled Guyana's $470 million debt, equivalent to 21% of its GDP (Forbes, 2015, 3). This debt cancellation, combined with the debt cancellation of other highly indebted poor countries, reduced the debt-to-GDP ratio from 183% in 2006 to 58% in 2014 (Forbes, 2015, 3). The heavy debt experienced in Guyana stems from an inward-oriented, state-led development model pursued by the government in the 1970s and 1980s. In 2014, sugar production fell to its lowest level in 24 years, contributing to the end of Guyana's financial woes (Forbes, 2015, 3). The ultimate effect of economic decline on the people living in Guyana has infiltrated every aspect of their lives. These final implications for Guyana's economic status include the impact on the basic needs of its population (Thomas, 2014, 1). Its people have been deprived of their rightful place in needprimary in an area of ​​inequality and poverty of health care, housing and food. Furthermore, the limitations of GDP as an indicator of economic performance, welfare and unionism have affected the government's ability to pay its growing debt and encourage economic growth within its country. There were important theoretical foundations or laws of motion that guided production, extended reproduction, and distribution below the poverty level population could survive. Finally, the global impact on Guyana's domestic inequality and poverty has continued to develop at a rapid and unmanageable pace. These far-reaching implications have affected the stability of Guyana's ongoing financial hardship and economic inequality. These inequalities are observed in Guyana's economic performance and well-being over the past five years. This country's long-term GDP has been in trouble. It can be seen over thirty years of financial disparity. (Thomas, 2014, 2). In 1980 Guyana's GDP was -22%. In the 1990s, the country recorded a GDP of 1.22%. Finally, in the years 2000-2013, GDP experienced a significant decline to 0.87%. The entire five-year period was less than 2%. Inequality and poverty have been given space and opportunity to grow and thrive, while bringing the financial demise of so many citizens. Helpman's main arguments and the influence on economic performance Elhanan Helpman, professor of economics at Tel Aviv University, offers theories relevant to the development of economic growth that provides broad determinants of financial inequality in countries around the world. Government institutions must promote the adoption of services by the growing technological change sector. Innovation must come from the service sector to create opportunities for financial prosperity. Knowledge, education and technological advances can lead to production and great improvements in the standard of living of the rich and poor in every country. Helpman contributes philosophies for understanding the disparity in GDP per capita between countries, the distribution of economic growth and development rates (Grossman, 2005, 1). It also provides the relative importance of different factors contributing to the growth factor; accumulation over productivity growth and offers implications in developing countries' financial stability. Helpman suggests theories that explain the success or failure of countries' financial situations. These philosophies include the study of per capita income, disparity in resources, physical and human capital, and ultimately large economic discrepancies (Grossman and Helpman, 2000, 1). Helpman offers economic analysts these theories to identify, analyze, and modify current economic practices to improve their country's current and future status. First, it is necessary to respect the constraints of the country's financial institutions in terms of consistency and productivity in the growth and equality of its population. Inequality is largely attributed to low growth in economic outlays, shorter growth periods, and the widening gap between the upper and lower classes of society. Furthermore, the government should be under control in the analysis of financial investments. The review of leaders should include extorting the investments and efforts of their employees working in the jobs. Furthermore, Helpman recommends that productive private sector institutions be monitored for self-enforcement policies (Grossman and Helpman, 2000, 3). The growth observed in countries and global trade is influenced by the.