...THE GROWTH EFFECTS OF FINANCIAL LIBERALISATION PROGRAMME IN EGYPT: DEVELOPMENTS AND DRAWBACKS (Key Words: financial liberalisation, economic growth, Egypt) DR. Ayman M. Ebrahim Faculty of Commerce and Business Administration Helwan University Ein Helwan , Cairo E-mail: ahendy@ksu.edu.sa hendyayman@hotmail.com ABSTRACT The paper begins with a review of theory and recent empirical evidence relating to financial liberalisation and economic development. Among the countries that underwent financial liberalisation programmes in the 1990s, Egypt appears to have performed well. Although the internal and external shock to the economy and the associated drawbacks in the financial liberalisation programme, over the past decade, which brought the experience of financial liberalisation, the Egyptian economic performance improved. Its aggregate growth rate was positive and macroeconomic variables moved in a favourable direction in accordance with the predictions of the financial liberalisation paradigm. The econometric test specification follows the nonlinear least-squares estimations methodology to test the co-movement of the underlying variables. INTRODUCTION The financial liberalisation paradigm encourages nominal interest rate liberalisation, the reduction or abolition of reserve requirements, the elimination of inflationary finance, the removal of other forms of taxation on...
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...range of areas that includes a lot of regulation. Even more focus is on information technology. “As the demands of traditional audits responsibilities and the growing burden of information security evolve, the industry is beginning to see emerging trends in internal auditing departments across many organizations” (Hirth, 2012). Information technology controls continue to increase in importance to today’s organizations as reliance on technology and compliance requirements increase. Deficiencies in information technology controls can have a significant impact on the organization. According to a 2011 presentation by public accounting firm Deloitte & Touche, the following are some of the top emerging information technology emerging issues. Social networking and social media technologies is expanding into new areas, including user communities, business collaboration, and commerce. The risks in this area include brand protection, unauthorized access to confidential data, and regulatory or legal violations. Historical audits are not sufficient to determine risks in this area as the medium is constantly changing. The audit plans should be updated every year based on a review of social media usage within the company with an eye on emerging risks. Mobile devices, including cell phones and tablets have become common workplace tools. These devices do not maintain the same level of data security as the organizations stationary network. There is a risk of loss of business data...
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...Emerging Issues in the Tourism Industry (In case of Switzerland) Introduction According to the World Economic Forum's annual Travel & Tourism Competitiveness Report which was released at the Global Tourism Forum (GTF) in Andorra; Switzerland and some other countries were considered as the most beautiful environments for developing the tourism and travel industries. Tourism always plays a vital role in the economy of any country and it plays the same role in Switzerland. But, it has been struck by the economic condition in Switzerland, because of the world economic recession. Tourists come to Switzerland because of its natural beauty, but with the continuing strike in many areas of Switzerland; it results in the improvement of tourism in Switzerland in recent years. Tourism Growth "Our report measures different factors that make it beautiful to make the tourism and travel industry of one country," said Jennifer Blanke, Lead Director and Economist of the World Economic Forum's Centre for Global Performance and Competitiveness. "The top rankings countries Switzerland, France, Germany and Austria show the significance of regulatory frameworks and supportive business, matched with world-class tourism and transport infrastructure, and a focus on rising natural and human resources for increasing an environment that is beautiful for making the tourism and travel sector." This analysis of the cross-country of the drivers of competitiveness in tourism and travel offers helpful...
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...human services, especially in psychology. Race, sex, color, or even religions are often an important part of training in multicultural psychology, but with new issues these basic factors need expansion. Obesity is a common factor many Americans struggle with as more than two-thirds of the population deals with, but training on is severely lacking for human services workers (Pascal & Kerpius, 2012). Mapping the human gene will also bring new information but also fear and unknown problems. Obesity Psychologists must work to maintain awareness on bias and perception to ensure appropriate assistance is provided to every client. The issues of race, color, or even age many view as elements an individual has no control over but obesity appears to be a choice. The views of many are that an individual who is obese or overweight is that way by choice or laziness resulting in a negative bias that can prevent therapeutic treatment (Pascal & Kerpius, 2012). Viewing an individual as obese also lends to beliefs of he or she is unintelligent, less productive, but caring (Pascal & Kerpius, 2012). The views of others can have long-term effects on an individual and create low self esteem as well as issues such as binge eating and depression. In a situation in which a therapist maintains these views it can exacerbate these issues taking a therapeutic relationship and creating a harmful one (Pascal & Kerpius, 2012). The professional may not be aware of bias but without understanding...
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...Emerging Issues Task Force Essay Emerging Issues Task Force Abstract In 1982, the Financial Accounting Foundation Structure Committee produced a report on operating efficiency that indicated a need for more timely guidance on implementation questions. That report resulted in the formation of an advisory group, which evolved into the Emerging Issues Task Force (EITF). This task force was established to assist the Financial Accounting Standards Board (FASB) in improving financial reporting through the timely identification, discussion, and resolution of financial accounting issues. (FASB, 2011) This paper discusses and explores the EITF in greater detail. Discuss how the Emerging Issues Task Force influences Generally Accepted Accounting Standards. The Emerging Issues Task Force (EITF) was formed in 1984 to respond to the recommendations of the Financial Accounting Standards Board (FASB) task force on timely financial reporting guidance. The EITF influences general accepted accounting standards by providing improved financial reporting through timely identification, discussion, and resolutions within the framework of an existing authority. The EITF designed to reduce diversity in practice on current issues in a quick and timely manner that should not exceed three to four annual meetings. This advisory board also minimizes the need for the FASB to spend time and effort addressing narrow implementation, application, or other emerging issues that can...
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...Emerging Issues in Multicultural Psychology Danielle Philp PSYCH 535 October 14, 2013 Dr. Edward Garrido Emerging Issues Multicultural Psychology The United States combines numerous cultures that are integrated and merged together. In theory this world seems to be a picture of harmony and unity, the reality of society is much more complex and challenging. With more immigrants from various cultures and backgrounds, the need for multicultural counseling increases. With this increase come two distinct issues for multicultural counseling: the counselor’s own personal culture, including his or her theoretical outlook, and the assortment of components forming the identity of the individual the counselor is advising. Counselor’s Culture In multicultural psychology it is essential to know of the client’s culture to be a culturally competent psychologist. However, many may overlook such that, competent psychologist need to be aware of his or her own personal culture and theoretical view. It is crucial to recognize and comprehend one’s culture and beliefs before commencing to understand and aid others, (Ibrahiam, 1985). Attentiveness...
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...Ethics, Compliance Auditing, and Emerging Issues INTERNAL MEMO TO: John Doe CEO FROM: Glen Leonard RE: Ethics Program / Training /Compliance Auditing ------------------------------------------------- DATE: February 22, 2016 This memo serves as notice that we will soon initiate efforts to develop and implement an ethics program as well as the appropriate training and an effective way to monitor those plans. As you are aware, consumers and partners want to work with companies they can trust, and having a program that will build management skills and effectively structure business controls is a great way to become transparent and build that trust. Overall, an effective ethics and compliance program will protect the organization by identifying and preventing inappropriate conduct while promoting adherence to the legal and ethical responsibilities of the organization. The core components of the proposed ethics program will include: * Establishing Standards and Procedures – this will include code of conduct, policies and procedures * Training and Education, to ensure employees are trained on the code of conduct, policies and procedures and other programs and objectives that are relevant to the program * Monitoring, Auditing and Evaluation establishing a system to detect and prevent unethical conduct and to ensure the system is effective and being adhered to. To close, with the establishment of an effective ethics programs...
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...initial cost, and even planned obsolescence have resulted in the fastest growth of the electrical and electronic equipment products and simultaneously resulted in the rapid development of e-waste around the globe due to enhanced rate of discarding the products after their end-of-life (EOL). (Bandyopadhyay). However, it is also worthwhile noting that in contrast, Waste Electronics and Electrical Equipment (WEEE) can offer a tremendous business opportunity if it would be treated in proper manner. Such is the emerging technology that support of the green computing and building our recycling infrastructure which is said to be woefully inadequate. Whichever ways these environmental issues are viewed, it is obvious in my opinion that the Waste Electronics and Electrical Equipment (WEEE) is problematic because of the vast array of chemicals and components used to manufacture EEE. The decision by all the stakeholders to act on mitigation of these problems is vital. This is a global issue accompanied by major ethical dilemma across all culture and it is also a problem which has created the cause for a common solution. Regulations & Guidelines Even though a national strategy is under consideration by the U.S. Environmental Protection Agency (EPA), historically States have developed separate initiatives. In the State of Florida for example, the Department of...
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...1042-2587 © 2008 by Baylor University E T&P Entrepreneurship in Emerging Economies: Where Are We Today and Where Should the Research Go in the Future Garry D. Bruton David Ahlstrom Krzysztof Obloj Emerging economies are characterized by an increasing market orientation and an expanding economic foundation. The success of many of these economies is such that they are rapidly becoming major economic forces in the world. Entrepreneurship plays a key role in this economic development. Yet to date, little is known about entrepreneurship in emerging economies. This introductory article to the special issue on entrepreneurship in emerging economies examines the literature that exists to date in this important domain. It then reviews the research that was generated as part of this special issue on this topic. The article concludes with a discussion of the critical future research needs in this area. Introduction The quantity and quality of entrepreneurship research has increased dramatically over the last 15 years. Today, entrepreneurship research is some of the most widely cited in the management discipline, with leading journals dedicated to its study and well-recognized conferences supporting its development. The methods employed and the theory foundations used in entrepreneurship today are consistent with mainstream management research. However, entrepreneurship research can still be critiqued as almost exclusively focused on North American and European research sites...
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...Emerging markets represent about 75% of the world's land; they are home for 80% of the global population. Based on classifications of countries used by the International Monetary Fund (IMF) in its World economic outlook (WEO) 150 countries are classified as Emerging Markets and Developing Economies (EMDE)s, including 20 members of G20. Today international companies are looking for new opportunities in emerging markets. More than 20,000 multinationals are operating in emerging economies and expect growth of their operations by 70% in these business areas. China and India represent the biggest potential future growth. However taking these huge opportunities means accepting significant challenges. Businesses entering emerging countries can’t succeed by simply using same business models, same products, prices and services suitable for developed markets. That is why companies have to use different strategy that can be applied to emerging markets. This course on Drivers, Strategies and Business Models For Emerging Markets teaches how to optimize the company’s strategy for emerging market, adapt and modify products and services to the target customers, identify new customers’ segments, and maximize profit on investment in emerging economies. The outcomes of this course are expected to be next: -Understanding of specific characteristics of emerging markets and opportunities and challenges there. -Understanding of finance concepts and strategy of investment in emerging economy. ...
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... India,and the former Soviet Union present a profusion of consumers and immense growth potential for multinational corporations. The trick is for senior management to fully understand that this market possibility exists and that tapping into it may require a radical departure from the traditional, developed-economy mindset. As Nike’s financial record indicates, market saturation and intense competition in Tier One economies has squelched Nike’s growth trajectory. While the Swoosh continues to penetrate typical Western markets, tapping into the increasing numbers of “middle and lower class” consumers in emerging markets could offer a phenomenal expansion opportunity if the firm can create the right business model. In addition, beyond the potential economic benefits from this venture, Nike’s World Shoe Project also offers a credible response to the labor issues that have buffeted the company, and leverages their efforts to minimize the environmental impact of their production activities. • Introduction/Background of the study The words “Just make me the shoe!” echoed down the boardroom table to Tom Hartage a 17 – year veteran of the running shoe company, Nike Inc. Tom Clarke, president of the company in 1998, had attended the meetings, seen the presentations and reviewed the numbers related to the market potential of China a rough gem with a booming population of 1.2 billion. He also knew that in many parts of the world, including China, people couldn’t afford...
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...Management The Dynamics of Market Entry and Expansion Strategy in Emerging Markets: The Case of Wal-Mart in Latin America Dino Ovcina Author: Dino Ovcina Supervisor: Dr. Jeremy A Head Institution: Sheffield Business School at Sheffield Hallam University Program: MSc International Business and Management Module: Dissertation Date of Submission: 21 April, 2010 Abstract This research investigates the internationalization process and potential issues related to market entry and expansion strategies. It focuses on Wal-Mart's entry and expansion strategies into the Emerging Markets of Latin America, and discusses the different entry and expansion decisions being made by the company. Furthermore, the research critically evaluates the dynamic challenges facing developed country firms in their market entry and expansion strategies in emerging markets. Its contribution to the existing literature is its focus on the dynamics of entry modes in emerging markets. The research, based on an inductive approach, has been conducted as a case study by the use of secondary data. Wal-Mart began its internationalization by entering the two geographically nearest markets, namely Mexico and Canada. The entry into Mexico, which occurred 1991, was the first strategic move aiming at reaching the company’s overall goal of becoming the leading player in Latin America. Mexico together with Brazil are the two main emerging markets of Latin America characterized by a high growth potential on...
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...Hogeschool Rotterdam | Why investors should invest in emerging markets | Counter argumentative essay | Quincy Barrow 11-7-2016 | Introduction Investors have been attracted to emerging markets since the early 2000s due to their huge growth potential during their economic transition from being a developing country into becoming a developed country. Between the year 2000 and 2011 the rapid growth in nations like Brazil, Russia, India and China - also known as the BRIC nations - has created many investment opportunities for foreign investors. Later countries like Chile, Egypt, Colombia, Qatar, United Arab Emirates, South Africa and Thailand have also been classified as emerging markets based on the MSCI benchmark. This essay touches on the reasons why investors should invest in emerging markets, which risks investors could have and how these risks could be mitigated. Emerging markets have been the drivers of the global economy According to Forbes (N.D.) over 70% of the global economic growth in the recent years has from emerging markets and their growing economies, 40% of which was estimated to have come from China and India. China’s purchasing power is expected to go beyond that of the United States by the end of 2016, despite the growth slowing down in recent years. Also, nations like China and India have had a significant contribution to the growth in the world’s GDP in the last decade, including in the 2008 credit crisis. With the up rise of countries like...
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...Management The Dynamics of Market Entry and Expansion Strategy in Emerging Markets: The Case of Wal-Mart in Latin America Dino Ovcina Author: Dino Ovcina Supervisor: Dr. Jeremy A Head Institution: Sheffield Business School at Sheffield Hallam University Program: MSc International Business and Management Module: Dissertation Date of Submission: 21 April, 2010 Abstract This research investigates the internationalization process and potential issues related to market entry and expansion strategies. It focuses on Wal-Mart's entry and expansion strategies into the Emerging Markets of Latin America, and discusses the different entry and expansion decisions being made by the company. Furthermore, the research critically evaluates the dynamic challenges facing developed country firms in their market entry and expansion strategies in emerging markets. Its contribution to the existing literature is its focus on the dynamics of entry modes in emerging markets. The research, based on an inductive approach, has been conducted as a case study by the use of secondary data. Wal-Mart began its internationalization by entering the two geographically nearest markets, namely Mexico and Canada. The entry into Mexico, which occurred 1991, was the first strategic move aiming at reaching the company’s overall goal of becoming the leading player in Latin America. Mexico together with Brazil are the two main emerging markets of Latin America characterized by a high growth potential on...
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...“Emerging Markets: From Copycats to Innovators Introduction Some of us are aware, especially those who are tech geek like I am, that, Tech companies are notorious for copying each other’s products and services, essentially “stealing” ideas. While some consumers get frustrated with companies releasing copycat products, the reality is that this game of one-upmanship results in better services for the consumer. Just to cite a few examples, according to P. Baumgartner (2008). “Don’t knock copy-cat innovation, it fuels the real stuff” at ventureburn.com, “Google wanted a more networking-friendly Facebook, so it created Google+. Apple’s team wanted its own navigation app, so it onced tried Google Maps. Facebook didn’t want to miss out on Snapchat-sized success, so it created Poke”. The bottomline is competition. While companies squable to get to to the top spot, they have to generate fresh, dynamic ideas to get the consumer’s attention. In competition, copying, repackaging, or rebranding, innovating or recreating is part of the game. The good news is that they all wind up, somehow to taking their costs down and subsequently their prices down as well. The winner is that company who have low cost input who could do mass production and move its inventory faster than the other. While companies battle head to head for the top spot, the ultimate winner is watching, waiting for that product of top quality and gives great value to the pocket – the customers like you and me. The...
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