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University Degree: Political & International Economics
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To what extent do you consider privatization of former state owned enterprises as a critical component to any economic reform of a formerly centrally designed and managed economy, such as India and China?. Which country, India or China, has had a more dif
Low growth rates were the highlight of the period. India was probably more affected by the command economy system because it was stricter in its observance as compared to China which had some form of civil involvements in agriculture in the early 1960s. Under the command economy, all industries were to be centrally planned, and their run was marked with inefficiency, non profitability and often supply surpluses and bottlenecks which were not desirable. It was a matter of time after realizing these affects that both countries adopted economic reforms to put things right.
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Through the years this exchange process had integrated and interdependent the nations and organizations who are involved. Nowadays nations are globalizing, governments and businesses are investing in their own nations and opening their market for foreign investments. Globalization had a large impact on people lives because new opportunities where created along with the risks. Globalization has also a cultural and social dimension; they can be influence trough knowledge, ideas and opportunities. Globalization has also a positive side for business it can lead to globalized customers and that leads to global service.
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Second, in light of the allegations against Nike, the company chose to respond reactively rather than proactively. Rather than addressing the allegations immediately and explaining how they were taking steps to prevent future misconduct, the company instead chose to try and detract attention from the real issues and claimed that the problems "had to do with public relations rather than actual factory conditions," which is effectively an attempt to blame others for their issues rather than addressing them. In doing so, Nike set a precedent of waiting to admit problems until they had become too large to continue ignoring, which became evident in their response to the lawsuit filed by Marc Kasky.
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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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The major concerns address unemployment caused by tariffs on imported goods and insufficient protection for the local producers. This paper will aim to find out the reasons why those "groups" are against protectionism. It will also present the reasons for decline in protectionism, specifically in the manufacturing industry since it has been the backbone of the Australian economy. Free trade or protectionist policies are both likely to have pros and cons, therefore liberalization of the economy will also be studied in this paper.
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Therefore, consumers end up paying more for less quality. This is why cartels are illegal under EU competition law and why the European Commission imposes heavy fines on companies involved in a cartel. Since cartels are illegal, they are generally highly secretive and evidence of cartels is not easy to find. Controlling competition between companies is an area where the EU is particularly powerful and where its decisions are clearly felt by European citizens. The EU's control over competition policy gives it the power to rule on mergers, takeovers, cartels and the use of state aid.
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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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Stock Market Volatility Is Caused By Businesses Yet Detrimental To Business Activity And Profitability. Discuss.
The capital market is where stocks and shares are traded nationally and is a key provider for long term finance for companies. The capital market is formed by two parts, the primary and secondary part. The primary involves in buying and selling new stocks and shares, and secondary involves in buying and selling existing stocks and shares. The main firms which buy stocks and shares are "the insurance companies, pension funds, investment trust, unit trust and other large financial institutions such as building societies" (A2).
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When the EU was founded in 1957, the Member States concentrated on building a 'common market' for trade. However, over time it became clear that closer economic and monetary co-operation was needed for the internal market to develop and flourish further, and for the whole European economy to perform better, bringing more jobs and greater prosperity for Europeans. In 1991, the Member States approved the Treaty on European Union (the Maastricht Treaty), deciding that Europe would have a strong and stable currency for the 21stcentury.
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The law of comparative advantage forms the basis of international trade. Explain the above statement with reference to the trade theories of David Ricardo and Heckscher and Ohlin. To what extent do these trade theories explain the patterns of trad
which was published in 1776 in 'The Wealth of Nations'. Adam Smith challenged the prevailing view in the 18th century international trade, that of mercantilism. The doctrine of mercantilism is based on the premise that for a country to increase its wealth it should discourage imports and encourage its exports. The resulting surplus of its exports would then allow the country to acquire precious metals, mainly in gold and silver. (Tariffs were used to restrict imports to cause a 'favourable trade balance').
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However, they didn't get substantial success to achieve their goals. As a consequence, Federal Reserve introduced some new and non-traditional policies. For example first time in the history they extended loans to investment banks. Further, when bankruptcy of Lehman Brothers, the 4th largest US investment bank, caused the increase in financial crises in September 2008, Federal Reserve acted very gently by bailing out the world's largest insurance company American International Group (AIG), which was in a big trouble and was unable to pay off all sold insurance policies.
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And up to this point, he is one of only a few media personalities to critique both Bush and Obama clearly and without political motivation. The reading process was a lot slower than I am used to, although Smith's writing, which is perpetually quoted throughout the book, is very similar to Paine's. As a result I knew to read Smith's passages a couple of times immediately instead of rereading entire chapters. The reading picks up as O'Rourke piques interest by relating Smith's ideas to recent past and present economic decisions on both the Micro and Macro levels.
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Capitalism. The following paper presents an analysis of capitalism a system frequently regarded as the sole viable economical and political ideology (Heywood, 2003, p20). Discussions of the concepts and developments of the capitalistic system will be
In its purest form - laissez-faire ("let them do") capitalist system was advocated by Adam Smith and later Milton Friedman and his Chicago School calling for free-market and reduced state intervention (Klein, 2007, pp49-53). However, in the aftermath of the Great Depression, a concept, suggested by John Maynard Keynes, was introduced which claimed that government intervention was essential in order to provide social security (Hague and Harrop, 2007, p145). The modern capitalistic systems are mostly regarded as a mixed economies lying somewhere between these two models.
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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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The world imports increased to 13.8 trillion US dollars in 1996 from 10.9 trillion US dollars in 1978, representing an annual average growth of 15.2%. In spite of rapid advancement of productive forces and science and technology worldwide, as countries become increasingly closer in their relations and the charges and commission rates for trans-border transactions and capital transfer, their economic interdependence and mutual support of relative advantages have grown all the more obvious. They are attached to one another and make into a whole.
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Critically analyse the term development and assess its importance as a policy goal. How should development be defined? Can it be measured or assessed with any degree of operational accuracy?
Dudley Seers was one of the proponents of this view. He stated that a growing economy contributed to development only if it reduced poverty, inequality and unemployment. David Simon gives the following definition to development "a broad, multifaceted process whereby quality of life and sense of fulfilment are enhanced". This definition clearly includes qualitative aspects as well through terms like "quality of life" and "sense of fulfilment". Considering that the term development included qualitative aspects too, there were attempts to find more appropriate measurements like the Human Development Index (HDI), produced by the United Nations Development Program.
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(McDonald, 2005, p. 126) The size of the EU budget has been growing over the years. The budget has increased by almost a hundred billion euros from 1988 to 2009 and its current amount is about �147 billions. One reason for that is the increasing number of member states that need to receive financial help. (European Commission, 2009) The main priorities of budget spending are agriculture, structural operations, internal policies, external actions, administration and monetary resources. Table 1 shows the percentage spent on each category. Table 1: Appropriations for commitments Appropriations for commitments Delors 1 1988 - 1992 Delors 2 1993 - 1999 Agenda 2000 2000 - 2006 New MYFP 2007 - 2013 Agriculture 58.2% 48.2%
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Further, it is also argued that these poor nations need to focus more on the neo-liberal policies in stead of guarding the vested interests. World disparities: At the global level, there is a vast disparity existing between rich and poor countries. For instance, the World Development Report, 1980 reports that in 1950 the average per captia income of low-income countries was $ 164 (at 1980 US$), whereas that of developed or rich countries was $ 3,841. The difference in the income was $3,.677.
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Labor Economics of Immigration. In neoclassical economics migration is considered a disequilibrium that ends once equilibrium is reached again. Lewis (1954) said that the big differentials in wages, employment and returns to capital between countries lead
Four decades later, it dramatically rose to 177 million which is 2.9% of the whole population. The descriptive statistics on the proportion of international migrants according to destination region showed that from 1960 to 2005 migrants prefered to settle in developed countries (EEA 2006). This scenario could give us a notion that the richer the country is, the more enticing it is to the immigrants. Some recent researchers hypothesized that the more generous the welfare system is the more the immigrants are attracted.
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In the telecommunications industry you can see all of these three types of regulation; however, the first is the most prevalent within the telecommunications market. The UK telecommunications market was solely, apart from a small district within the area of Hull, provided by the post office and then when separated British Telecommunications (BT) until 1981 when Mercury Telecommunications was established. This was later followed in 1984 by the privatisation of BT, the UK government held a 49.8% remaining share of BT, which has subsequently also been sold (Parker, 2004).
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There are no big difference in interests between employer and employee. The task of labour is to fit within this framework. Therefore, unitarist theorists regard conflicts as abnormal activity, which is the temporary result of a lack of communication and management between employer and employee. With poor communication, conflict can arise from an employee's misunderstand of the direction of employer or organization. Conflict can also arise from poor management, and merely requires management to refocus itself. Different workers have different basic needs that need to be met.
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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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and the Supreme Council for Science and Technology (BTYK) in Turkey. T�BITAK is actually the primary institution, which is in charge of the National Science and Research Policy, while BTYK is for policy making and consultation. BTYK is the most important policy making body of research and science, which was established in 1983. The Council is authorized by the Prime Minister and its members are well- known representatives from different universities, the government and industrial experts. They meet twice a year in order to make decisions. BTYK gets help from various agencies in order to coordinate its activity.
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