Economy of Ovandera: Difference between revisions
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The economy of [[Ovandera]] is a {{wp|Self-managing economy|self-managing}} [[Cardinal Socialism|socialist]] economy reliant primarily on agriculture. Historically plagued with fragility, the modern Ovan economy suffers greatly from a | The economy of [[Ovandera]] is a {{wp|Self-managing economy|self-managing}} [[Cardinal Socialism|socialist]] economy reliant primarily on agriculture. Historically plagued with fragility, the modern Ovan economy suffers greatly from a recent loss of skilled laborers, [[History of Ovandera#Ovan_Civil_War|post-war]] {{wp|brain-drain}}, and a lack of integration with the global {{wp|market economy}} leading to a little foreign trade or investment. The country enjoys a vast agricultural capacity, however, while benefitting greatly from an increase in inter-community stability and education standards in recent years. By rough estimate only 30% of communities in Ovandera actually use and accept the national currency, the other estimated 60% depending on the work of [[Cardinal Socialism#Economic_Party|distributive committees]] and the countries growing {{wp|gift economy}} for access to goods and services. | ||
Ovandera's ability to incorporate foreign investment is limited, with few of the countries Canton's allowing for foreign involvement in local economies at all. The nation as of late has begun turning toward {{wp|renewable energy}}, primarily {{wp|hydropower}}, to fulfill its energy demands spurring from a lack of national spending power on oil importation. The country depends primarily on the export of cereals, fruits, as well as meat & dairy products in order to maintain its foreign spending power, but also has a size-able mining industry taking advantage of wide mineral deposits in the countries interior. | |||
==Overview== | ==Overview== | ||
<!---Ovandera is a low-income country, having gone through immense economic change in the past decade from the [[Cardinal Socialism|socialist]] and [[Mannensdorf Communities|communist]] victory in the 2008-2013 Civil war. The Common-State maintains a GDP of $128,822,960,000, and a GDP/c of $1,114, with most of her international revenues stemming from the export of grain, meat & dairy products, as well as raw minerals. A lack of foreign connections and political pressures against trade with {{wp|capitalism|capitalist}} countries, however, has limited the countries ability to import goods and in response has led to heavy investment in {{wp|renewable energy|renewable energy}}, primarily {{wp|hydropower}}, in order to fill a growing oil deficit. | |||
The country would see it's first steps toward economic reform in 1913 with the Gloßner-Lewang Reforms, transitioning the traditionally agrarian, mercantile of the economy of the Ovan Commonwealth toward a progressively liberalizing industrial economy. The reforms would work to break down the institution of Getrenntheit, separateness, that prevented "ethnic minorities from participating in alemannic society." The Reforms would further democratize the country, as well as allow ethnic minorities to own land, a passport, and to use the nations currency. The economy would undergo further liberalization in the 1930's, investing heavily into mechanized industry, such as mineral processing and the textile industry, and would benefit from investment from the [[Second Great War (Aeia)]]. This boom would be short lived however, as the economy began to stagnate throughout the 50's, and would weaken significantly after a string of failed military coup's and a decade military strong arming. | |||
The situation would breakdown in 1980 when the Ovan Market crashed from a major recession.---> | |||
==History== | |||
==History of Economic Institutions== | |||
:''Main article: [[Economic History of Ovandera]]'' | :''Main article: [[Economic History of Ovandera]]'' | ||
:''See also: [[History of Ovandera]] and [[Precolonial Ovan Peninsular Cultures]]'' | :''See also: [[History of Ovandera]] and [[Precolonial Ovan Peninsular Cultures]]'' | ||
Latest revision as of 01:25, 17 December 2019
The economy of Ovandera is a self-managing socialist economy reliant primarily on agriculture. Historically plagued with fragility, the modern Ovan economy suffers greatly from a recent loss of skilled laborers, post-war brain-drain, and a lack of integration with the global market economy leading to a little foreign trade or investment. The country enjoys a vast agricultural capacity, however, while benefitting greatly from an increase in inter-community stability and education standards in recent years. By rough estimate only 30% of communities in Ovandera actually use and accept the national currency, the other estimated 60% depending on the work of distributive committees and the countries growing gift economy for access to goods and services.
Ovandera's ability to incorporate foreign investment is limited, with few of the countries Canton's allowing for foreign involvement in local economies at all. The nation as of late has begun turning toward renewable energy, primarily hydropower, to fulfill its energy demands spurring from a lack of national spending power on oil importation. The country depends primarily on the export of cereals, fruits, as well as meat & dairy products in order to maintain its foreign spending power, but also has a size-able mining industry taking advantage of wide mineral deposits in the countries interior.
Overview
History of Economic Institutions
- Main article: Economic History of Ovandera
- See also: History of Ovandera and Precolonial Ovan Peninsular Cultures