...rich economies have entered into a deep recession. IMF economists predict the global economic growth to fall from 5.6% in 2007 to 3.9% in 2008, and to 3.0% next year. Billions of dollars pumped by the rich and the emerging economies to bail out the distressed banks or to boost their economies have failed to stop the rot. Bangladesh is apparently immune from the crisis, its economy not being very tightly linked with the rest of the world. It has been enjoying a relatively healthy growth of exports, industrial activity and remittances. Yet, a prolonged recession in the rich countries may cause a slowdown in exports, inflows of remittances, foreign aid and FDI, thereby hurting GDP growth. IMF has said that GDP growth in Bangladesh this year will be lower – 5.5% instead of the officially projected 6.5%, if the global recession lingers. Bangladesh policy makers will need to stay alert to the possibility of the economy being hit by the global slump and adopt appropriate mitigating measures.] Introduction The United States economy is now experiencing a severe credit crunch (falling availability of credit), which is the most serious financial crisis since the Great Depression of the 1930s. The crisis that originated from plunging house prices and stock price declines in the US has already spread to Europe and Asia, and is expected to be global soon. Many economists, including IMF experts, believe that the US economy has entered a recession that might be...
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...global financial crisis since the Great Depression. While major world economies have taken a massive hit resulting in negative growth rates in key countries or regions, including the US, EU and Japan, the contagion also spread to emerging developing countries like China, Brazil, India and South Africa, as well as to the countries of South East Asia and Latin America. The magnitude of impact seems to depend on the extent of integration with the rest of the world (or to use World Bank jargon, the extent of liberalization that has taken place). The impact on LDCs like Bangladesh has been muted in the first, and even the second round. However, there is growing evidence that third round impacts are making themselves felt, manifested in declining exports, declining migration of labour, growing number of sick industries, industrial unrest, and reduced growth. There are also fears that poverty and unemployment may be exacerbated and MDG targets could become jeopardized. Countries like Bangladesh are interested in understanding the socio-economic impact of the global financial and economic crisis as well as policy options to cope with emerging challenges. This study addresses itself to the task of assessing the unfolding impact of the GFC on Bangladesh. There is a consensus that the chief transmission...
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...INDEPTH: OIL The price of oil - in context CBC News Online | April 18, 2006 Oil is sold in barrels - it's the same unit of measure used to sell whisky. A barrel of oil - or whisky - contains 159 litres. The price of a barrel of oil has been testing new highs since it pushed through $50 a barrel in September 2004 - and pushed gasoline prices well beyond $1 a litre in the summer of 2005. But how high are prices like that, historically speaking? Turns out these records may not be records, after all. Oil prices were stable for most of the 100 years before 1973 at well under $5 a barrel. Expressed in today's dollars (all figures in U.S. dollars), the price was closer to $10 a barrel, hitting highs of about $15 and lows close to $8. Even as the world economy boomed in the decades following the Second World War, prices remained fairly stable. That's mainly because the United States held most of the clout in the oil industry - and the U.S. government regulated the price of oil. From 1958 to 1970, prices were stable at about $3 per barrel, but in real terms the price of crude oil declined from above $15 to below $12 per barrel. The decline in the price of crude when adjusted for inflation was further exacerbated in 1971 and 1972 by the weakness of the U.S. dollar. But by the early 1970s, that changed. The Organization of Petroleum Exporting Countries had become a force and in 1973, the first major oil shock hit the world as Arab nations refused to sell to countries that...
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...of a new house d. An increase in semiconductor inventories over last year’s level e. A city government’s acquisition of 10 new police cars. a. Net exports b. Consumption c. Investment d. Investment e. Government purchases • 2. (National Income Accounting) Define gross domestic product. Determine whether each of the following would be included in the 2007 U.S. gross domestic product: a. Profits earned by Ford Motor Company in 2007 on automobile production in Ireland b. Automobile parts manufactured in the United States in 2007, but not used until 2008 c. Social Security benefits paid by the U.S. government in 2007 d. Ground beef purchased and used by McDonald’s in 2007 e. Ground beef purchased and consumed by a private U.S. household in 2007 f. Goods and services purchased in the United States in 2007 by a Canadian tourist • Gross domestic product is the market value of all final goods and services produced in a country during one year by resources located in that country. a. No, this production occurred outside U.S. borders b. Yes, this current production is treated as inventory investment c. No, these are transfer payments d. No, this is an intermediate good e. Yes, this is a final good, used for consumption f. Yes, these are U.S. exports 3. (National Income Accounting) Explain why intermediate goods and services usually are not included directly in GDP. Are there any circumstances under which...
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...global trends in sUstainable energy investment 2010 Analysis of Trends and Issues in the Financing of Renewable Energy and Energy Efficiency United nations environment Programme Endorsed by Copyright © United Nations Environment Programme and New Energy Finance, 2010 This publication may be reproduced in whole or in part and in any form for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgement of the source is made. UNEP would appreciate receiving a copy of any publication that uses this publication as a source. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the United Nations Environment Programme. Disclaimer United Nations Environment Programme: The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the United Nations Environment Programme concerning the legal status of any country, territory, city or area or of its authorities, or concerning delimitation of its frontiers or boundaries. Moreover, the views expressed do not necessarily represent the decision or the stated policy of the United Nations Environment Programme, nor does citing of trade names or commercial processes constitute endorsement. Bloomberg New Energy Finance: The information contained in this publication is derived from carefully selected public...
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...vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America. When the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises—and a replay of the 1930s seems all too possible. In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States and the world up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis and turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugman's trademark style—lucid, lively, and supremely informed—this new edition of The Return of Depression Economics will become an instant cornerstone of the debate over how to respond to the crisis. ». PAUL KRUGMAN is the recipient of the 2008 Nobel Prize in Economics....
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...for a firm’s shares means that it can raise a smaller amount of funds, so investment in facilities and equipment will fall. 3. Higher stock prices mean that consumers’ wealth is higher, and they will be more likely to increase their spending. 4. They channel funds from people who do not have a productive use for them to people who do, thereby resulting in higher economic efficiency. 5. The United States economy was hit by the worst financial crisis since the Great Depression. Defaults in subprime residential mortgages led to major losses in financial institutions, producing not only numerous bank failures, but also the demise of two of the largest investment banks in the United States. These factors led to the “Great Recession” which began late in 2007. 6. The basic activity of banks is to accept deposits and make loans. 7. Savings and loan associations, mutual savings banks, credit unions, insurance companies, mutual funds, pension funds, and finance companies. 8. Answers will vary. 9. In the period from 2007 to 2011, both inflation and interest rates have generally trended downward compared to before that period. 10. The data in Figures 3, 5, and 6 suggest that real output, the inflation rate, and interest rates would all fall. 11. Businesses would increase investment spending because the cost of financing this spending is now lower, and consumers would be more likely to purchase a house or a car because the cost...
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...reproduction or translation, application should be made to ILO Publications (Rights and Permissions), International Labour Office, CH-1211 Geneva 22, Switzerland, or by email: pubdroit@ilo.org. The International Labour Office welcomes such applications. Libraries, institutions and other users registered with reproduction rights organizations may make copies in accordance with the licences issued to them for this purpose. Visit www.ifrro.org to find the reproduction rights organization in your country. Global Employment Trends 2012 / International Labour Office – Geneva: ILO, 2012 1 v. ISBN 978-92-2-124924-5 (print) ISBN 978-92-2-124925-2 (web pdf) International Labour Office employment / unemployment / labour force participation / economic recession / developed countries / developing countries 13.01.3 Also available in French, Tendances mondiales de l’emploi 2012 (978-92-2-224924-4), Geneva, 2012, and Spanish, Tendencias Mundiales del Empleo 2012 (978-92-2-324924-3), Geneva, 2012. ILO Cataloguing in Publication Data The designations employed in ILO publications, which are in conformity with United Nations practice, and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the International Labour Office concerning the legal status of any country, area or territory or of its authorities, or concerning the delimitation of its frontiers. The responsibility for opinions expressed in...
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...primary season in January and February to the general election in November. The betting is that the winner will be a Democrat—with a strong chance that a Clinton will again be set to succeed a Bush as leader of the free world. China, meanwhile, will hope to use the Olympics to show the world what a splendid giant it has become. It will win the most gold medals, and bask in national pride and the global limelight. But it will also face awkward questions on its repressive politics. America and China will be prime players in the matters that will concentrate minds around the world in 2008. One of these is the world economy, which can no longer depend on America, with its housing and credit woes, to drive growth. America should—just—avoid recession, but it will be China (for the first time the biggest contributor to global growth) along with India and other emerging markets that will shine. Another focus of attention will be climate change. As China replaces America as the world’s biggest producer of greenhouse gases, serious efforts on global warming depend on the serious involvement of those two countries. If 2007 was the year when this rose to the top of the global agenda, in 2008 people will expect action. It is striking that green is a theme that links all the contributions from political leaders in this volume, whether at the city level (Michael Bloomberg), the national level (Felipe Calderón, Nancy Pelosi, Nicolas Sarkozy) or the supranational level (the UN’s Ban Ki-moon, ASEAN’s...
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...britain ’s bruisin g banana wars Why ch threat eap bananas Policy en farmers’ report future s A Fairtrade Foundation Report February 2014 When I sell a box of bananas it’s a product with quality, with incredible taste, so it should be fair that you pay a fair price for it. Horatio Hernandez Coobafrio Co-operative, Magdalena, Colombia January 2014 contents 1 Introduction 4 2 6 Executive Summary Britain’s Bruising Banana Wars 16 16 20 21 4 The banana value chain 4.1 The UK banana market 4.2 The retail price of bananas in Britain 4.3 UK banana imports 2002 – 2013 4.4 Changes in banana supply chain operations 4.5 The impact of supermarket price wars on producers 4.6 Producer prices vs costs of sustainable production 22 22 23 5 The market environment for bananas 5.1 Evolution of the global banana trade 5.2 Consolidation of retailer power and UK price wars 5.3 The impact of competition law on banana prices 38 6 Fairtrade’s alternative approach 6.1 General background to the Fairtrade system 6.2 Fairtrade bananas – scope and scale 6.3 airtrade: the benefits and F constraints for farmers and workers 2 3 About this report 3.1 Fairtrade’s involvement in bananas 3.2 Research objectives and approach 3.3 Methodological note 7 Achieving a sustainable banana industry 7.1 inclusive market An ...
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...***AFF*** ***1AC*** Inherency – 1AC Contention one: Inherency The new FAA bill cut funding for the AIP, which will cripple our airport infrastructure – rapid investment is critical PRINCIPATO ‘12 - president, Airports Council International-North America; M.A. in International Relations from University of Chicago; International Trade and Transportation specialist, Hunton & Williams (Greg, “Why we should invest today in 'Airports Inc.'”. March. http://thehill.com/blogs/congress-blog/labor/218525-faa-why-we-should-invest-today-in-airports-inc) With the latest Federal Aviation Administration (FAA) forecast predicting a doubling of passengers and cargo by 2030, the current funding system is not up to the job of ensuring airports will have the infrastructure they need to handle such dramatic increases in traffic. This will have far-reaching consequences. Commercial airports are powerful economic engines, generating 10.5 million jobs and $1.2 trillion for the U.S. economy, according to a new Airports Council International-North America study. Across the country, workers and businesses count on local airports to attract investment and move people and goods around the world. Since 2001, the total number of jobs associated with airports has increased by more than 50 percent. Despite unprecedented growth and clear evidence of the economic benefits of infrastructure investments, airports expect to have $80 billion in unmet needs through 2015 because of the flawed system...
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...EXORBITANT PRIVILEGE EXORBITANT PRIVILEGE The Rise and Fall of the Dollar and the Future of the International Monetary System Barry Eichengreen Oxford University Press, Inc., publishes works that further Oxford University’s objective of excellence in research, scholarship, and education. Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne Mexico City Nairobi New Delhi Shanghai Taipei Toronto With offices in Argentina Austria Brazil Chile Czech Republic France Greece Guatemala Hungary Italy Japan Poland Portugal Singapore South Korea Switzerland Thailand Turkey Ukraine Vietnam Copyright © 2011 by Barry Eichengreen Published by Oxford University Press, Inc. 198 Madison Avenue, New York, NY 10016 www.oup.com Oxford is a registered trademark of Oxford University Press All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press. Library of Congress Cataloging-in-Publication Data Eichengreen, Barry J. Exorbitant privilege : The Rise and Fall of the Dollar and the Future of the International Monetary System / Barry Eichengreen. p. cm. Includes bibliographical references and index. ISBN 978-0-19-975378-9 1. Money—United States—History—20th century. 2. Devaluation of currency—United States—History—21st century. 3. United States—Economic...
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...2. The lower price for a firm’s shares means that it can raise a smaller amount of funds, so investment in facilities and equipment will fall. 3. Higher stock prices mean that consumers’ wealth is higher, and they will be more likely to increase their spending. 4. They channel funds from people who do not have a productive use for them to people who do, thereby resulting in higher economic efficiency. 5. The United States economy was hit by the worst financial crisis since the Great Depression. Defaults in subprime residential mortgages led to major losses in financial institutions, producing not only numerous bank failures, but also the demise of two of the largest investment banks in the United States. These factors led to the “Great Recession” which began late in 2007. 6. The basic activity of banks is to accept deposits and make loans. 7. Savings and loan associations, mutual savings banks, credit unions, insurance companies, mutual funds, pension funds, and finance companies. 8. Answers will vary. 9. In the period from 2007 to 2011, both inflation and interest rates have generally trended downward compared to before that period. 10. The data in Figures 3, 5, and 6 suggest that real output, the inflation rate, and interest rates would all fall. 11. Businesses would increase investment spending because the cost of financing this spending is now lower, and consumers would be more likely to purchase a house or a car because the cost of financing their purchase is lower. 12. No...
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...012-IBE-CaseStudies.docx Academic Year 2011-2012 International Business Environment Jean-Guillaume DITTER, PhD Groupe ESC Dijon Bourgogne – Burgundy School of Business SUPPORT DOCUMENT I - CASE STUDIES The texts making-up this document review and emphasize significant issues covered during the sessions. The questions asked at the beginning of each set of texts are meant to help students identify the issues that they should pay attention to. Students will work in teams on one single case study (see class outline for number of students per team). Each team will produce a presentation slideshow of its case study (7-10 slides per presentation, depending on the size of the case). Slideshows will be presented orally during sessions, according to the class outline (1520mn per presentation). Each team member will actively participate in his/her team presentation. Page 1 of 35 012-IBE-CaseStudies.docx CONTENTS Case Study 1. Text 1. Text 2. Text 3. Case Study 2. Text 4. Case Study 3. Text 5. Text 6. Text 7. Case Study 4. Text 8. Text 9. Text 10. Text 11. Text 12. Text 13. Case Study 5. Text 14. Text 15. Text 16. Text 17. Text 18. Text 19. Case Study 6. Text 20. Text 21. Case Study 7. Text 22. Text 23. Text 24. Text 25. Chinese Mercantilism .................................................................................................... 3 Chinese New Year ............................................................................................................
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...INSURANCE ADVISORS EFFECTIVENESS FOR PUBLIC AND PRIVATE INSURER: A DEMOGRAPHIC STUDY Krishan Kumar Pandey*Manisha Pandey** Manish Kerwar***Ashutosh Khare**** Dharmendra Singh***** Abstract : Few years back insurance was an arcane word for all of us. Insurance is no longer an unexciting business and the insurance advisor an apologetic salesman. New entries have actually changed the rules of the game in the insurance industry. One such change that has made a huge positive impact in the minds of Indian consumers is the product innovation by the insurance companies. New products are being launched; new distribution channels opened and thousands of sales advisers and managers are being recruited every month. This rapid change is demanding new regulations, new methods of management, new methods of operation and ofcourse considerable development in knowledge, attitude and skills of the workforce. Such times demand business/ output focused people who think widely, are confident about taking risks and decisions and prioritise their own and others’ actions to achieve the business need. Without these attributes the growth pattern that has begun will not be sustained. So are these attributes being developed in people? People know what they should do but they do not necessarily know how to do it. This study is well ahead to evaluate the effectiveness of Insurance Advisors. *, * * Faculty in Prestige Institute of Management, Gwalior * * * , * * * * , * * * * * Alumni, Prestige Institute...
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