The role of financial intermediation in the economic growth process was recognised as far back as the 17th century when Walter Bagehot‚ in his classic Lombard Street‚ argued that it was England’s efficient capital markets that made the industrial revolution possible. Centuries later‚ modern day economists hold largely the same view that access to investment capital‚ through well functioning financial markets‚ is crucial for growth and development‚ particularly in capital-scarce developing countries
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government financing decisions as well. As equity prices rise‚ tax revenues tied to capital gains go up. Government tends to spend more as revenue increase. Without the support of fundamentals such as lower interest rates or faster productivity growth‚ the above factors will only shift the AD curve to the right and meet the SRAS curve at a higher price and higher output level‚ creating an “inflationary output gap”. In economic model‚ under the long run scenario‚ when the input resource prices have
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COMENIUS UNIVERSITY FACULTY OF SOCIAL AND ECONOMIC SCIENCES EUROPEAN UNION ENLARGEMENT: TURKEY and EU From 1963 to 2013 Semih BAŞKAYA DEPARTMENT OF EUROPEAN STUDIES BRATISLAVA 2013 Contents EUROPEAN UNION ENLARGEMENT: TURKEY and EU From 1963 to 2013 Semih BAŞKAYA ABSTRACT The relations with European Union has been always important for Turkey since it has applied for being member but also it has been always a
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Ways to control Population Growth Population growth is the rate of increase in the size of a given area‚ such as a city‚ country or continent. Population growth is closely linked to fertility‚ which is the rate at which women produce offspring. Due to the limited resources on earth and in various countries‚ rampant population growth can lead to inadequate food and other amenities‚ so in certain cases it can be beneficial to attempt to limit population growth. Laws One way for a country or
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EFFECTIVE WAYS OF TEACHING METHODS AT SECONDARY LEVEL. A RESEARCH PAPER SUBMITTED TO THE FACULTY OF BESTLINK COLLEGE OF THE PHILIPPINES IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE COURSE ENGLISH 2 BY : ........ BSED MAJOR IN ENGLISH MARCH 2014 INTRODUCTION The purpose of this study was to determine the effectiveness of various teaching methods used for teaching students at secondary level‚ i search about perceptions of best and effective teaching methods
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Cultural Differences : Individualism and Collectivism The many cultures of the world differ in a great variety of ways. One of the most interesting ways in which cultures vary is in the extent to which they are "individualistic" or "collectivistic." An individualist society and a collectivist society are different in many ways. In an individualistic culture‚ each person tends to think of himself or herself in terms of his or her own characteristics and preferences-the things that make the person
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Short Paper 1 Philosophy Human Person Civil Disobedience What is the most effective means of protesting an unjust law? by Maria Cristina Coello June 19‚ 2014 Summer 2014 No matter how much society fights against injustice and inequality‚ there is always something that corrupts laws into unjust ones. Often these “unjust” laws affect directly to a certain type of group or individuals just because of characteristics or social class. The minority groups affected by the special treatment
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Economic growth and public policy To increase productivity and living standards‚ governments can can: 1. Encourage saving and Investment: Goal: invest more current resources in the production of capital to increase physical capital (K). Trade-off: The opportunity cost of investment is that someone must forgo current : consumption in order to save and invest sumption Note that: because of diminishing returns‚ an increase in the saving rate leads to higher growth of productivity and income only
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(1914–18). Indeed‚ the Second World War was the fourth time in 130 years that France and Germany were at the core of increasingly horrifying wars. 1.1.1 A climate for radical change In 1945‚ it was plain to all that something was desperately wrong with the way Europe governed itself. Minds were open to radical changes. It is hard for students born in the 1980s or later to connect emotionally with the misery and hardship that were so commonplace in Europe at the end of the Second World War. Difficult‚ yet
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What is a Policy? A policy is a guiding principle used to set direction in an organization. It can be a course of action to guide and influence decisions. It should be used as a guide to decision making under a given set of circumstances within the framework of objectives‚ goals and management philosophies as determined by senior management. But is it? There are really two types of policies. The first arerules frequently used as employee policies. The second are mini-mission statements frequently
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