CABILTES, JOIELYN B.

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“Economic Development in Southeast Asia”

1.) According to the Boston Consulting Group’s managing director. How can governments create
jobs?

According to the Boston Consulting Group, the government needs to do two things well in order
to generate jobs. One is to make it simple for businesses to set up and get going in order to generate
employment. The second is human capital development, which aims to ensure that the populace of the
nation is well educated so that, once of working age, they are easily employable.

2.) Discuss the three (3) Key success factors to consider an economy as an environment “easy to
do business” with?

The key to any economic development strategy’s success is creating an environment where
businesses can operate with ease. By this, we mean three things: First, the ability to start a business
quickly, if necessary, in a single day through a one-stop shop, including the completion of all licensing
requirements. Second, well-managed unions that effectively handle any militancy when firms are to hire
and manage employees with ease. Third, governments can give their companies access to free trade
agreements and economic zones, which allow those enterprises to expand and hire more workers.

3.) Why do we say that GDP is not enough to measure economic growth and development? What
else do we measure?

The GDP alone is not a sufficient way to assess economic development. Although effective, it is not
enough because the goal of the sustainable economic development assessment is to provide a very
comprehensive picture of how a nation’s economy has developed. Thus, as a result, they measure things
like civil society, governance, health, education standards, and, of course, income levels. They also
measure things like civil society, governance, health, and well-being. When taken as a whole, any
economic development project that satisfies these KPIs (Key Performance Indicators) or any of these
methodologies in a holistic manner is a project that will actually be beneficial to society in the long run.