...INSTITUTIONS AND DEVELOPMENT By Mary M. Shirley 1 1. THE CHALLENGE OF DEVELOPMENT Developed countries are the exception, not the rule. Billions of dollars of aid and countless hours of advice notwithstanding, most countries have not been able to foster sustained growth and social progress. Increasingly research has shown that weak, Cross-country missing or perverse institutions are the roots of underdevelopment. regressions persistently demonstrate large and statistically significant correlations between institutional variables and growth, and in horse races between variables, an index of institutional quality “trumps” geography or trade as an explanation for growth (Rodrik, et al. 2002). To meet the challenge of development countries need two distinct and not necessarily complementary sets of institutions: (i) those that foster exchange by lowering transaction costs and encouraging trust, and (ii) those that influence the state to protect private property rather than expropriate it. 1 The first set of institutions includes contracts and contract enforcement mechanisms, commercial norms and rules, and habits and beliefs favoring shared values and the accumulation of human capital. Among the second set of institutions are constitutions, electoral rules, laws governing speech and education, and legal and civic norms. Today’s underdeveloped countries must acquire these institutions under particularly difficult conditions -- in a global market competing with already...
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...Kenneth Meniatis Ajan Wannapa International Relations Globalization Looking back on high school, I can recall walking through the hallways, seeing people and groups of all kinds. The hallways were lined with various groups of different people with diverse ideas and opinions. I, myself, was part of one of these groups. However, my clique inter-mingled with others as we exchanged our ideas, opinions, and experiences. There were some various cliques that did the same; as they did not isolate themselves from the rest of high school life. However, there were also other kinds of groups which committed themselves to their group solely, isolating themselves from everyone else. Now, let’s take these cliques and groups and turn them into full-scale nations. The high school, in turn, becomes the world. The cliques that stayed isolated would be classified under the term, localization. The people that intertwined with others would be classified under the term, globalization. There are advantages and disadvantages to both globalization and localization. Globalization encourages going beyond territorial boundaries to discover new political, economic, and social aspects that would benefit the citizens and the nation. Politically, globalization supports developments that expand authority, policies, and interests beyond these boundaries. Governments now will look to foreign governments for assistance if they are facing a difficult situation. Governments will also incorporate foreign political...
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...International Comparative Trends in Collective Bargaining Susan Hayter Collective Representation, Coverage & Scope As Figure 1 shows, trade union membership has declined in many countries. There are a number of reasons for this. First, structural changes in labour markets, involving a decline in the share of manufacturing in total employment and increase in the share of services, eroded the traditional membership base of trade unions. In some regions, the dramatic decline in public sector employment as a result of structural adjustment and privatization had a detrimental effect on union membership. Second, legal reforms introduced in some countries prohibited compulsory unionisation (closed shops) and encouraged individual contracts. Third, the increase in international competition as a result of globalization undermined the bargaining power of trade unions and strengthened the hand of management. Finally, the growth of non-standard forms of employment, for example part-time or fixed-term contracts put a brake on union Trade union membership has declined in many countries. Collective bargaining is a key means for improving wages and conditions of work and for regulating employment relations. Integration into global markets has intensified competition. In response, enterprises sought to be more flexible by introducing new forms of work organization and changing their employment practices. These changes present important challenges for collective bargaining. Collective bargaining...
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...AFGHANISTAN Economic Freedom Score 25 Least free 0 50 75 100 free Most World Rank: Not Ranked Regional Rank: Not Ranked This economy is not graded Freedom Trend economic not be graded A fghanistan’slack of officialfreedom couldare not comprebecause of a reliable comparable data. The government’s compilations of economic data hensive, and many of the international sources relied upon for Index grading contain incomplete data on Afghanistan. This assessment is based on the limited data available from government and international sources. Over the past 10 years, Afghanistan has undergone a challenging economic transition requiring significant institutional development. Growth rates have been high but volatile. Real GDP growth, driven mainly by agriculture and construction, has averaged almost 10 percent over the past five years. Large volumes of foreign aid have yielded some improvements in such areas as health and education. Operating under difficult developmental circumstances, Afghanistan remains severely burdened by numerous systemic shortcomings worsened by ongoing security challenges. The government’s weakness, exacerbated by vested interests and corruption, has hindered politically difficult policy reforms and eroded trust. Previously implemented reform measures have not been sustained, with political uncertainties further undermining progress in economic reconstruction. BACKGROUND: President Hamid Karzai is constitutionally required to hand power...
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...Role of Banks for developing the Economy of Bangladesh Role of Banks for developing the Economy of Bangladesh Introduction Banks over the years, have become a significant aspect of an economy. With the on going financial depression, the position of banks have become all the more important in the course of working of the money market and hence the economy of a nation. The banking sector forming a portion of the financial sector primarily works as a financial intermediary generating money supply. From the different macro economic models , banks have been found to be a part of the supply side of the economy . However, over time banks have transformed from merely money generating organizations to a multi tasking entity. In this paper, we shall deal with the role of banks in the context of the world economy as well as the Bangladesh economy . The first section will illustrate the functions of a bank along with its classification. In the second section, we shall discuss the role of a banks as a major component of the service sector rendering to the economy as a whole. In the third section, we would like to empirically validate our hypothesis with a comprehensive data analysis. The recession in the US market and the global meltdown termed as Global recession have engulfed complete world economy with a varying degree of recessional impact. World over the impact has diversified and its impact can be observed from the very fact of falling Stock market, recession in jobs availability...
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...Assignment 2 Sociology of Developing Countries – SOC 300 02/18/2012 Discuss the growth of urban crime in the Third World, the major obstacles to reducing crime, and the possible political consequences of rising crime rates. Crime The word crime, in the terms of criminal law, is an act which is punishable by the law of the land. All crimes are evil acts. However, some crimes are those acts which are not punishable by the law of the land, even though they are evil acts. A person who is involved in crimes is known as a criminal. The word crime, in a broad sense, is defined as an act which violates either a political law or a moral law. In the narrower sense of the term, the word crime is defined as a violation of the criminal law. Most violations that take place at traffic signals on the roads are considered to be breaches of contracts, but they are not considered to be crimes in the legal sense of the term. Anything that is in violation of the penal code of a country is considered to be a crime. Third world The economically underdeveloped countries of Asia, Africa, Oceania, and Latin America, considered as an entity with common characteristics, such as poverty, high birthrates, and economic dependence on the advanced countries. The French demographer Alfred Sauvy coined the expression ("tiers monde" in French) in 1952 by analogy with the "third estate," the commoners of France before and during the French Revolution-as opposed to priests and nobles, comprising the...
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...Corporate Governance of Commercial Banks in Bangladesh Introduction: The need for corporate governance arises from the potential conflicts of interest among stakeholders in the corporate structure. These conflicts of interest often arise from two main reasons. First, different stakeholders have different goals and preferences. Second, the stakeholders have imperfect information as to each others actions, knowledge, and preferences. Corporate governance (CG) is an important effort to ensure accountability and responsibility and is a set of principles, which should be incorporated into every part of the organization. Though it is viewed as a recent issue, there is, in fact, nothing new about the concept. Because it has been in existence as long as the corporation itself-as long as there has been large – scale trade, reflecting the need for responsibility in the handling money and the conduct of commercial activities. Numerous works, studies, and researches have been conducted to enact principles, codes, and guidelines for ensuring good corporate governance systems and culture within the organizations. Sir Adrian Cadbury in 'Global Corporate Governance Forum’ defined corporate governance as: "Corporate Governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship...
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...children’s health is very much concerning issue not only for a country but also for whole. Throughout the world children are suffering from malnutrition and carious diseases. They are not only struggling with physical fitness but also from psychological health. Wars, domestic violence, family quarrels, increase in broken families are impacting very several on children mind. This is time to become conscious about children’s physical and psychological health ensuring rights of the children in order to developing children’s health. Task 1 1.1 The ways that support the different types of relevant legislation support the right of children to a healthy lifestyle: Legislation regarding child care: Child Care is very common term used in relation to healthy environment of children. Child care encompasses physical, psychological or mental, social, environmental care for children. There should be a structured format regarding that physical, psychological or mental, social, environmental condition. When there is legislation regarding each of those perspective conditions, then a structured format is automatically established. All of that legislation shall be congregated under a common head “legislation of Child Care”. Even in, many of the third world countries does not have legislation regarding the child care. Very few have but that is not pragmatic and befitting. So special attention should be given for those countries. A common legislation is required to develop and enforce concerning...
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...Corruption is a form of dishonest or unethical conduct by a person entrusted with a position of authority, often to acquire personal benefit. Corruption may include many activities including bribery and embezzlement, though it may also involve practices that are legal in many countries. https://www.google.com.ph/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=corruption Political corruption is the use of powers by government officials for illegitimate private gain. An illegal act by an officeholder constitutes political corruption only if the act is directly related to their official duties, is done under color of law or involves trading in influence. Forms of corruption vary, but include bribery, extortion, cronyism, nepotism, gombeenism, parochialism patronage, influence peddling, graft, and embezzlement. Corruption may facilitate criminal enterprise such as drug trafficking, money laundering, andhuman trafficking, though is not restricted to these activities. Misuse of government power for other purposes, such as repression of political opponents and general police brutality, is also considered political corruption. The activities that constitute illegal corruption differ depending on the country or jurisdiction. For instance, some political funding practices that are legal in one place may be illegal in another. In some cases, government officials have broad or ill-defined powers, which make it difficult to distinguish between legal and illegal actions. Worldwide...
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...1. Labour or Industrial Relations. The term labour relations, also known as industrial relations, refers to the system in which employers, workers and their representatives and, directly or indirectly, the government interact to set the ground rules for the governance of work relationships. It also describes a field of study dedicated to examining such relationships. The field is an outgrowth of the industrial revolution, whose excesses led to the emergence of trade unions to represent workers and to the development of collective labour relations. A labour or industrial relations system reflects the interaction between the main actors in it: the state, the employer (or employers or an employers’ association), trade unions and employees (who may participate or not in unions and other bodies affording workers’ representation). The phrases “labour relations” and “industrial relations” are also used in connection with various forms of workers’ participation; they can also encompass individual employment relationships between an employer and a worker under a written or implied contract of employment, although these are usually referred to as “employment relations”. There is considerable variation in the use of the terms, partly reflecting the evolving nature of the field over time and place. There is general agreement, however, that the field embraces collective bargaining, various forms of workers’ participation (such as works councils and joint health and safety committees) and mechanisms...
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...[pic] MZUMBE UNIVERSITY DAR ES SALAAM BUSINESS SCHOOL COURSE TITLE: MBA CM SUBJECT CODE: ECO 5011 SUBJECT NAME: MANAGERIAL ECONOMICS NAME: MICHAEL KISAKA TASK: TERM PAPER REGISTRATION No. MBA/CM/DCC/412/T.11 SMEs IN TANZANIA, THEIR IMPORTANCE AND CHALLENGES TOWARDS NATIONAL ECONOMIC GROWTH. Lecturer: Dr. G. Kinyondo December, 2011 | | |TABLE OF CONTENTS |PAGE NO. | | | | |Acknowledgement |1 | | | | |Abstract |2 | | | | |Structure of the Report ...
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...Lastly, I would like to extend my sincere thanks to all those at Amity University Dubai who have willingly helped me out with their abilities. PEST Analysis of Pakistan Political If we observe the political situation of Pakistan, much of the politics is based on different ethnic groups. It’s fair to say that the current political situation of Pakistan is in dire need of substantial changes if we compare it to the political systems of leading nations in the world. Pakistan has a democratically elected government where the ruling party is Pakistan People’s Party. Common perception is that it is a weak government, nevertheless backed by the western powers. It is not considered to be a stable government that could change anytime. Law & Order and the corruption situation in the country are at its worst....
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...Role of Service Excellence on the satisfaction of Customers and Customer Loyalty/Service Quality (SQ) Introduction In market private & public sectors banks, Islamic and microfinance banks are functioning. In this situation only those companies can stay alive which offer the most excellent products and services to their customers, because customers have so many options in the same market place and it’s really tough job and banking sector is also the part of this competitive environment. Because banking sector have to become more towards customized their services and creates customer oriented atmosphere to meet the basic needs of their customers and to attract them. "Success of the baking organization starts from retention and loyalty of the...
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...Florida, USA Abstract Purpose – E-marketing is growing at a dramatic pace and is significantly impacting customer and business market behaviors. As a result, most firms have started developing e-marketing strategies for the web. However, the evolution and strategic direction of e-marketing strategies in international environments has not been discussed and is the focus of this paper. Design/methodology/approach – In this paper, the authors examine two issues based on extant literature and our previous research in this area. The authors discuss e-marketing in an international context and develop a framework that will allow researchers and managers to understand the impact of country level effects on e-marketing strategies. The paper proposes that the evolution of e-marketing strategies is based on the countries infrastructure and marketing institutional development. Findings – It is found that international e-marketing strategies are fundamentally changing, and will continue to change, marketing thought and practice in international markets. The paper suggests that the e-markets of tomorrow may have little resemblance to the markets of today. Research limitations/implications – The paper suggests that additional conceptual and methodological research is required in this area. Propositions are derived that will provide directions for future...
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...link between sound and well-developed financial systems and economic growth is a fundamental one. Empirical evidence, both in developing and advanced economies, has shown that countries with developed financial systems grow at faster rates. Efficient and prudent allocations of resources by the financial system is crucial for increasing productivity, boosting economic development, enhancing equality of opportunity, and reducing poverty. Getting the financial systems of developing countries to function more effectively in providing the full range of financial services is thus a task that will be well rewarded with economic growth. This report takes a first look at the overall financial system of Iraq with a forward looking approach. At the outset it was agreed with Iraqi authorities that the focus of this review should be forward looking and constructive. Overall the financial sector in Iraq is underdeveloped, and is playing a limited role in financial intermediation. The banking system is still by far the most important part of the Iraqi financial system, accounting for more than 75 percent of the assets and dominated by state ownership. Non-bank financial institutions and markets are small and under-developed but have the potential to provide access to sources of finance. Access to finance is impeded by weak financial infrastructure, which needs to be strengthened over time in all areas, including credit registry, the collateral framework, judicial systems, and accounting and auditing...
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