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University Degree: Political & International Economics
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- Marked by Teachers essays 1
Balance of Payments. It follows from double-entry bookkeeping that the balance of payments must always balance : total debits equal total credits . When we speak therefore of a positive or negative balance or a surplus or deficit , we evidently have in m
When we speak therefore of a positive or negative balance or a surplus or deficit , we evidently have in mind some particular group or classification of accounts . For example , a positive balance of trade refers to an excess of merchandise exports over merchandisse imports (item 1) and vice versa for a negative balance of trade . Similarly , a current-account surplus or deficit refers to the difference between receipts and payments coming from exports and imports merchandise and services ( items 1-5 )
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This suggests that there is considerable scope for the euro to continue expanding its role as global currency. In this paper, we are going to further address the matters above and discuss the Role of the Euro compared to the Dollar, gauge the Euro's weight in third countries as well as in global financial markets, and finally give an excursion about present challenges and issues (the current Greek crisis). History of Euro On January 1, 1999 the Euro became the official currency for more than 300 million people in Europe. It was first introduced as an accounting or electronic currency in 2001 (ECU), and in 2002 became legal tender in 12 EU member states.
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Chandler stwierdza iz strategia to okreslenie gl�wnych, dlugofalowych cel�w firmy i przyjecie takich kierunk�w dzialania oraz taka alokacja zasob�w, kt�re sa konieczne dla zrealizowania cel�w [ Chandler, 1962, s.13 ]. Inne podejscie, zwracajace uwage na cechy egzogeniczne, ma H.Mintzberg, kt�ry definiuje strategie jako "spos�b ksztaltowania relacji miedzy organizacja i jej otoczeniem: sp�jnymi wzorcami w strumieniach decyzji organizacyjnych dotyczacych otoczenia" [ Mintzberg 1979, s.25]. Kompromisem wydaje sie byc definicja H. Kreikebauma: "Strategie w przedsiebiorstwie odzwierciedlaja spos�b, w jaki przedsiebiorstwo stosuje swoje obecnie istniejace i potencjalne sily, by sprostac zmianom zachodzacym w otoczeniu, realizujac przy tym wlasne cele".
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Health issues - there is still no definitive public opinion on the effect of mobile phone usage by people and also the possible health effects of the closeness of phone masts to schools. � Economical Factors ? Cost of licences - the cost of acquiring mobile phone licences is very high. ? 3G - the bidding war for 3G licences happened at the height of an economic boom and consequently the price paid for them was extreme. This with the cost of building the network will require a lot of revenue to break even, but if the price is too high, the standard will not take off.
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An investigative study of the pros and cons of custom duties as a source of government revenue on the Bahamian economy.
There are various forms of taxation that can be enforced by the government. However, in The Bahamas, the main form of taxation is tariffs. Most of the revenue that is obtained by the Bahamian government is collected through tourism, banking and tariffs. Tariffs, also known as custom duties are the main form of taxation imposed in The Bahamas. In this coursework my aims are to: 1. Examine taxation and the principles of taxation 2. Examine the functions of taxation 3. Examine the methods of taxation 4. Investigate the different forms of taxation 5.
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This paper is aimed at analyzing the interrelatedness of innovation and international trade to the growth in the production industry in Japan .
High productivity growth was experienced which was as a result of product diversification. In the 80's, Japan's shipbuilding dominated the world with the country filling more than half the world orders. In 1989 for instance the country received orders for 7.1 million tons. Pharmaceutical production had a growth of 8% in the same year and has since then grown to be the second world largest individual market as of 2006. Motor vehicle production is one of the economies backbone with country hosting six of the top ten world largest vehicle companies. Vehicle industry hit World number one in 1991 when Japan produced 9.7 million automobiles compared to the United States' 5.4 million.
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From July 1992 onwards the exchange rate shown is that of the Peso against the Chilean currency basket. The exchange rate was left to float between a range of two predetermined bands, which was widened through time. The exchange bands were widened to 12.5% in 1997. In the same year, Chile's exchange rate arrangement was classified as managed floating. While in September 1999, the Central Bank suspended the crawling band and allowed the Peso to float. Therefore, the exchange rate arrangement was changed to the category of independently floating.
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On the contrary, the fiscal policies were very lax and persistent budget deficits reveal the poor transparency of fiscal operations, and resulting widespread tax evasion through the use of offshore accounts among other means. Additionally, the federal government grossly misspent funds and was unable to manage their constituents (provincial) expenditures. There exists the problem in Argentina that the federal government is wildly unable to manage their provinces major public expenditure responsibilities, which significantly limits the government' control over the fiscal national policy.
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The conclusion will vindicate Chang's arguments and other suggestions to re-think the Washington Consensus approach to promoting economic development in poor countries. However it is not the intention of this essay to dismiss the merits the Washington Consensus policies, but to urge that the developed countries should refrain from imposing policies that are not compatible to the developing countries and they, the developing countries should have a voice on their self determination to development. 2. Review on Joon Chang's Kicking Away the Ladder The Washington Consensus with its set of good policies and good institutions forms the theme of Chang's
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Implications for the macro-economy of the central bank adopting an interest rate rule. John Taylor, a Stanford economist, was able to devise a simple rule for Federal Reserve actions which has received considerable acclaim for its accuracy in capturing t
As Taylor pointed out, a number of macroeconomic policy actions are predicated upon rules, not discretion. Fiscal policy, for example, is often divided into two parts: discretionary policy actions and automatic "stabilizers" to the economy such as progressive income taxes which automatically reduce consumer spending and slow the economy during periods of excessive inflation, and unemployment benefits, which increase consumer spending and stimulate the economy during periods of high unemployment. Fixed exchange rate policies tend to serve as a rule requiring governments to "lean against" the market winds that serve to push currency exchange rates higher or lower than the established target.
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Als h�ufiger Fall kann auch beobachtet werden, dass sog. "local - content" - Vorschriften gewisser L�nder eine Kooperation mit einem inl�ndischen Unternehmen f�r den Markteintritt voraussetzten, worauf im weiteren Verlauf dieser Arbeit noch eingegangen werden soll.4 ii. Beweggr�nde internationaler Kooperationen Internationale Kooperationsbeziehungen basieren auf einer Vielzahl unterschiedlicher Motive, die alle gemeinsam darauf abzielen, strategische Wettbewerbsvorteile zu erzielen. Im folgenden soll ein �berblick �ber die m�glichen Beweggr�nde f�r den Aufbau einer internationalen Kooperation gegeben werden. Durch internationale Kooperationen schaffen es Unternehmen sich dem internationalen Wettbewerbsdruck zu stellen. Beim Vertrieb der eigenen Produkte auf ausl�ndischen M�rkten kann ein internationaler Vertriebspartner den Zugang zu externen Ressourcen er�ffnen, zu denen z.B.
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Today Russia is independent country, but it steal does not have many contacts with other countries from economical point of view. Accession to the WTO is critical for Russia and its political leadership. Also by the membership of WTO Russia can improve its economical and business environment but it may have to make some compromises related to free trade. President Vladimir Putin has made it a top priority to enter the WTO. The main purpose of our project is to discuss positive and negative consequences for Russia that might result from entering the WTO, will they gain much by entering this organization or they will not.
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The same parameters shall be compared with other countries on a random basis to strengthen the argument. Stepping Stones - India's colonial experience framed a solid background which reinforced the belief that the free trade regime during that period was biased against Indian interests and that it cannot be relied upon to generate required growth and reduce poverty. This made India cringe in to a cocoon that was rooted in the belief that self reliance is the only way to move ahead without realizing that the country had little to be self dependent because that character was somewhat lost due to ages of foreign rule.
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Trade has expanded over the years because nations have import goods which are not available at home and this expansion has result several issues, including technological diffusion, increased range of consumer choice, reduction in the costs inputs, and other benefits (Krugman, 1997) (International Economics Theory and Policy, Seventh edition). After GATT operated for almost five decades, it has been converted into World Trade Organization (WTO). As the successor of GATT, WTO continued GATT's responsibility to deal with the rules of trade among countries around the world which including negotiate and implement trade agreements that agreed and signed by nations that support WTO.
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Viner and R. Lipsey. Viner in particular made distinction on trade creation and trade diversion. Trade creation involves a shift from higher cost domestic production to lower cost PTA country due to the shift the price paid by consumer is driven down. Trade diversion occurs when country shift its import from lower cost outside 'club' country to higher cost PTA member (El-Agraa, 1994, Pautola -Mol, 2003 ) According to Baldwin new regionalism now usually involves small countries with the link with a large countries or countries located geographically close to them. In addition regional integration involves deep integration but confers relatively minor advantages.
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Tax Academic commentators agree that the explosion of FDI in recent years would never have materialised without the government's commitment to a low corporate tax regime.4 At 12.5% for all corporate trading profits, significantly below that of the E.U. and U.S.5, companies have cited this (as opposed to subsidies which can have the effect of making a bad investment look good) as the primary reason for choosing Ireland. It has stimulated transfer pricing among these FDI companies in Ireland6, thus benefiting Irish tax revenues by large multinationals locating large chunks of their substantial profits in the country.7 It is clear
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The UK enjoys stable growth from a much greater base. In 2005, the governments with the highest public deficit figures were those of Hungary (6.1% of GDP - 5.4% in 2004), Portugal (6.0% - 3.2% in 2004), Greece (4.5% - 6.9% in 2004), Italy (4.1% - 3.4% in 2004), Britain (3.6% - 3.3% in 2004), Germany (3.3% - 3.7% in 2004) and Malta (3.3% - 5.1% in 2004). Meanwhile, Belgium, Denmark, Estonia, Finland, Ireland, Latvia, Spain and Sweden registered a government surplus in 2005. The Stability and Growth Pact limits public deficits to 3% of GDP.
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China-Africa friendship has laid a solid foundation for bilateral investment cooperation; Second, Chinese government encourage domestic companies to invest on Africa. Through participation and implementation of the projects from Chinese government and international aid organizations, Chinese companies are more known to African countries and on the other hand, they gain a better understanding of political and economic situation, cultural, and historical background of Africa. In recent years, Chinese companies, with strength in technology, equipment and capital funding and through economic cooperation, become experienced in foreign investment; Third, Chinese companies are provided with a large number of investment opportunities as the
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This agreement was and still is, very controversial because of numerous reasons. To begin with it was the first merger between three nations with such a big difference in development�. Mexico is by far, the poorest and the less developed country in this agreement. More than half of al Mexican citizens are living in poverty and one fifth is living in extreme poverty4 versus 12% people blow poverty line in the United States and 15% in Canada (note: Canada's figure is the Low Income Cut-Off (LICO), it does not have an official poverty line)5 An other reason is that the NAFTA had also effect on the 'democratic freedom' of the citizens in the member states.
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With such superior service, he seems to suggest, why won't the world beat a path to his door to buy everything from toasters to trumpets and tennis rackets?" (NY Times 2005) 4.0 E BUSINESS SYSTEM OF AMAZON "A system is a set of interrelated components working together to achieve a collective goal." (Bocji 2003) (Alter 2002a) defines a system as "business processes using computer and communication technologies and computerised data" An E-Business System (EBS) is a system which performs and co-ordinates business processes using computer and communication technologies and computerised data.
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Heavy price reductions resulted in bankruptcy of all the SME operators in the locality where Walmart opened. This is one of the major areas where Walmart faces political force. However, the retail giant, owing to its gigantism, overcomes the force with internal political relationship. ECONOMIC - This is one of the major advantges it has over its competetion. Economies of large scale operations help Walmart in selling products at highly discounted prices resulting in competition elimination. TECHNOLOGY Wal-Mart has used technology to the optimum limit.
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They are set full steam ahead for what seems to be the fastest growing economy of the 21st century and pressure is upon them to fix all their problems. Historically, China had been a leading country, impressing the world with its talents in various academic fields such as sciences and the arts. They hit a road bump in the 19th century as the country was in great turmoil due to war and famine; they suffered defeat and humiliation by such countries as Japan, Russia and Britain.
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The U.S. has imposed drafts on its able bodied men since the 1800's. In 1863, the first conscription act in United States history was passed, authorizing the President to draft citizens between the ages of 18 and 35. Included in the act was a provision that allowed draftees to either pay $300 or supply a substitute to gain exemption. This touched off numerous draft riots, most notably in New York City. Conscription was imposed again in 1917 after the U.S. entered WWI and with WWII a looming prospect, the first peacetime conscription came into existence with the introduction of the Selective Service Act of 1940.
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* Responsible lobbying * International and external evaluation of social and environmental performance Tesco and need to work on this to achieve this stage. Tesco is currently at the stage mention above because it provides a lot of detail about the financial aspects of the business and also it respect that stakeholders are important and must be listen to. "We are committed to maintaining a good dialogue with shareholders through proactively organising meetings and presentations, as well as responding to a wide range of enquiries.
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Poverty is determined by income, access to education and health services and exposure to political insecurity. In the dimension of remote health in developing countries, poverty is often experienced as the inability to purchase or access basic health services and public health infrastructure. Persistent low incomes of rural dwellers limit purchasing power, particularly for catastrophic life events such as injury or obstetric emergency. Based on statistics (Appendix A), in 2003 the average annual Filipino family income is P147,888 or equivalent to P410.80 per day. This amount is not enough to feed an average family of five for a day.
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