Macroeconomic convergence, financial development and economic growth Dissertation

Macroeconomic convergence, financial development and economic growth - Dissertation Example The potential of the developing countries to grow faster is more than that of the developed countries as the developing countries have diminishing returns to factors. Convergence can be of two types, the process of poorer economies catching up with the richer economies is referred as alpha convergence whereas beta convergence is the process in which a country converges to its own steady state rate of growth (Alfaro et al.2005). As pointed out by professor Jeffrey Sachs ,many countries due to its closed economic policies cannot converge, this could however be overcome if the free trade policies are included which will lead to openness of the economy. Between the years 1970-1989, 111 countries have been studied on the basis of their rate of convergence. It was found by Andrew Warner and Sachs that the countries following closed economic policies had a growth rate of 2% whereas the countries following open economic policies have a growth rate of 4.5 % (Alfaro et al.2005) There are many countries that have converged with the developed countries such as the Asian tigers, HongKong, Singapore, Taiwan, and South Korea. As sited by many economists the endogenous rather than the exogenous factors triggers the growth of an economy (Alfaro et al.2005). ... tal are important as it significantly influences the savings and rate of investment (Halmai & Vasary.2009.p.3).Technological spread, change in growth rate and total productivity of the factors are the major players in enhancing the rate of convergence. Macroeconomic convergence and economic growth Integration of the national and regional economies with the global economy is one of the salient features over the history. Two models of economic integration which relates to income convergence are firstly growth models and secondly trade models (Kim.1997.p.4). According to the neoclassical Solow model of growth, the regional level of income varies due to the different capital labour ratios. Whereas the Hecksher Ohlin trade model says that the income varies across the regions due to the difference in the factor prices and factor endowments (Kim.1997.p.5). Income convergence occurs due to trades in goods and economic integration via equalisation in prices. Factor endowments vary across the regions and therefore various regions specialise in different industries. Thus if the regional variation in the factor endowments increases then there arises divergence in the income levels as the structure of industries diversifies. Conversely as there exits similarity in the factor endowments then the income level also converges in the due course. Economic integration also gives rise to income divergence (Kim.1997.p.5) The growth models put forward by Romer and Lucas, which are based on increasing returns on physical capital, states the chances of such income divergence. Even the trade models by Krugman states that income divergence may arise due to the differences in the industrial structures. If the industries equipped with high technology and high wages are subjected to external

History in the 21st Century Term Paper Example | Topics and Well Written Essays - 1500 words

History in the 21st Century - Term Paper Example The different approaches applied when studying the subject create uniqueness throughout the different historical eras. This essay will therefore investigate various historical approaches in the 20th century. The essay will also investigate the implication of the different approaches in history to scholars. Similar to ancient and medieval history, the twentieth history had its unique approach and method. Marxism is a historical approach of the twentieth century that was introduced by Marx. Through his philosophy, Marx had many followers who believed that that the existence of any society is determined by relationship between individuals and not the personal characteristic of each member of the society. Marxism historical approach was introduced at the height of conflict between capitalism and communism. According to Marx, capitalism was unsustainable and it would soon be overtaken by communism. Marxist considered the economy to be a key player in the determination of events or differe nt approaches taken by life. Introducing the notion of economy was an appropriate step that the Marxist took to study the subject. This is because the economy is a major determinant of social life and societies. The economic condition of a given community determines the different approaches towards life that the communities take for their own interest. The need to maintain economic stability also determines the different measurers that are taken by a community to protect its interest. Although communism might be a better economic approach, it is unsustainable and hence the predictions made by the Marxist are not realistic. Economic sustainability is realized from sustainable economic principles. Such economy is more likely to be realized from a capitalist economy than from a communist economy. This indicates that the predictions made by the Marxists are unrealistic and unreliable in the long-term. The new social history is the most recent branch of history. In this technique, histor ians apply cultural approaches to study political history of a given society. Culture is the overall collection of a community’s way of life and beliefs. Communities preserve their culture by passing it from generation to generation. The culture of a given society therefore defines a form of investment that a society makes over a long duration. Culture is therefore as good basis that historians can rely on to determined or investigate the political history of a certain community. The approach taken by the new social history to study the political history of a society is an appropriate approach since it utilizes the culture of a society1. Multiculturalism is more of an ideology than a historical approach. Scholars, who apply this approach in their investigations, consider the existence of cultural institutions. The institutionalization of different communities is the classification of different communities based on their common interests. Historians who study the society throu gh multiculturalists approach study the subject by analyzing the different classes of the society such as businesses, cities, nations and institutions. People have a tendency of forming groups that contain people with a common interest. The different groups or societies determine people way of life and their different approach towards life. Although this approach enables history scholars to study the general characteristic of a community, it does not give specific or detailed information about a community. The ap

Important of Education Essay Example for Free

Important of Education Essay Education means considerably more than just teaching a student to read, write, and manipulate numbers. Computers, the Internet, and advanced electronic devices are becoming essential in everyday life and have changed the way information is gathered. How this new technology is utilized in the curriculum and managed by teachers will have an important role to play in widening the resource and knowledge base for all students. Technology affects the way teachers teach and students learn. To make the best use of information technology (IT), schools need a workable plan to fully integrate it into all aspects of the curriculum so students are taught how, why, and when to use technology to further enhance their learning. If a school does not have a clear plan of how and why it wishes to implement IT, then it runs the risk of wasting money. In schools today, nearly all classrooms have access to a computer. However, many schools mistake this as incorporating information technology into the curriculum. School staff need to research what IT is available and what would best serve the schools purpose, not simply purchase the latest equipment. There should be a policy stating how IT is going to assist pupils development and what teachers want pupils to achieve (Reksten, 2000). Staff members need to be clear about what they want IT to do for them before they can start incorporating it into their lessons. The only way information technology is going to be useful to schools is if all staff members are well-informed and fully supported. It is the principals responsibility, and should be part of the schools plan, to ensure that all staff are consulted about the changes, and that the change is carefully organised. Some teachers may be resistant, especially if they have not had much experience with computers, so training teachers is essential in implementing IT into the school curriculum. Staff members must feel involved in the process of acquiring technology, and in learning how to operate it, in order for them to increase their confidence in using IT as a curriculum tool. Teachers are only going to be able to incorporate IT into their lessons if they are competent users themselves (Reksten, 2000). In addition, teachers need to be aware that IT within the classroom is extremely flexible, but that they need to plan what purpose IT serves in each lesson. The skills a child learns are the important part of any lesson, and it is the same with technology. IT needs to be used and understood in all subjects in the same way as the ability to read is necessary for all subjects, and â€Å"must be used across the curriculum, in the same way that a pen and pencil are used in most subject areas† (Ager, 2000, p. 15). The best way to plan the use of IT in the classroom is to approach it as simply a learning tool that is more advanced (and more exciting) than the traditional pen and paper. It is vitally important for students to be taught the strategies for using IT. Children also need to be fully informed about the capabilities of IT before being asked to use it. Pupils should be aware that the contexts in which they use IT will change, and they need to know what the appropriate use of IT is and what is not. Whilst it is important that children learn to use IT effectively, teachers must emphasise that IT is not always suitable. According to Apter (1968), the danger is that the â€Å"computer dehumanizes people and inevitably leads them to act like machines themselves† (p. 58). Teachers must make sure they plan to use variety in their lessons. Too much IT instruction may be just as harmful to a child as not enough. The usefulness of IT in the classroom, as with any learning tool, depends on the innovation and imagination of the teacher. It is imperative, though, that the implementation of IT into a school is carefully planned. The current information explosion makes it essential that IT be used extensively within the classroom so children know how to use IT appropriately and effectively. Teachers must, therefore, be fully informed about what kinds of IT are available and whether or not they are appropriate for classroom use. School boards and teachers must therefore ensure that all staff have a clear plan about what they want their students to achieve through IT. The appropriate incorporation of IT into the classroom will broaden the minds and skills of students, allowing them to be better prepared for further technological advances.

Learning Environments of Different Economic Levels Essay -- Education

Learning Environments of Different Economic Levels Pictures not only display an image in our minds, but the language of the picture conveys a certain message to the viewer. For example, the picture â€Å"Instruction at Home† displays an informal learning environment in a third world country, while the picture â€Å"The Lesson--Planning a Career† displays a formal learning environment in a more developed country. Based on the appearance of the students in the pictures, the children in "Instruction at Home" appear to be more attentive and interested in the material than the students in "The Lesson--Planning a Career," who appear bored and disinterested. These images tell us that the students in impoverished countries place a higher value on their education because it is a rare privilege, rather than a mandatory responsibility, as displayed in "The Lesson--Planning a Career." These differences in educational environments, which are displayed in the two pictures, are influenced by the economic levels of the soci ety in which the students live. The first picture, â€Å"Instruction at Home,† displays the learning environment of lower economic levels. In this picture, two young children, about six or seven years of age, sit in front of a makeshift blackboard attentively listening to their teacher, who is most likely their mother. The learning environment is not a classroom at all, but a small space in the corner of their home. They sit in two wooden chairs facing the blackboard, which is really just a black cloth with letters and numbers drawn on it. Their teacher stands to the side of a small desk cluttered with a few small items and a kerosene lamp, while using a walking stick to point to the board. A calendar hangs o... ...it is apparent that there is a concrete message enveloped in the lessons at home and in the classroom. The students in â€Å"Instruction at Home† are more eager to learn their alphabet than the students in â€Å"The Lesson† are to learn about planning their careers. The children in â€Å"Instruction at Home† have been brought up in a primitive culture where nothing has been spoon-fed to them, unlike the students in Western civilization. Therefore, the children that have been raised in poverty place a higher value on an education, which they see as an incredible opportunity to better themselves and rise above the harsh reality of their world. The students in â€Å"The Lesson,† however, perceive school as a mandatory responsibility. The two pictures show that the better the economic level one lives in, the better the learning environment, which leads to greater economic success. Learning Environments of Different Economic Levels Essay -- Education Learning Environments of Different Economic Levels Pictures not only display an image in our minds, but the language of the picture conveys a certain message to the viewer. For example, the picture â€Å"Instruction at Home† displays an informal learning environment in a third world country, while the picture â€Å"The Lesson--Planning a Career† displays a formal learning environment in a more developed country. Based on the appearance of the students in the pictures, the children in "Instruction at Home" appear to be more attentive and interested in the material than the students in "The Lesson--Planning a Career," who appear bored and disinterested. These images tell us that the students in impoverished countries place a higher value on their education because it is a rare privilege, rather than a mandatory responsibility, as displayed in "The Lesson--Planning a Career." These differences in educational environments, which are displayed in the two pictures, are influenced by the economic levels of the soci ety in which the students live. The first picture, â€Å"Instruction at Home,† displays the learning environment of lower economic levels. In this picture, two young children, about six or seven years of age, sit in front of a makeshift blackboard attentively listening to their teacher, who is most likely their mother. The learning environment is not a classroom at all, but a small space in the corner of their home. They sit in two wooden chairs facing the blackboard, which is really just a black cloth with letters and numbers drawn on it. Their teacher stands to the side of a small desk cluttered with a few small items and a kerosene lamp, while using a walking stick to point to the board. A calendar hangs o... ...it is apparent that there is a concrete message enveloped in the lessons at home and in the classroom. The students in â€Å"Instruction at Home† are more eager to learn their alphabet than the students in â€Å"The Lesson† are to learn about planning their careers. The children in â€Å"Instruction at Home† have been brought up in a primitive culture where nothing has been spoon-fed to them, unlike the students in Western civilization. Therefore, the children that have been raised in poverty place a higher value on an education, which they see as an incredible opportunity to better themselves and rise above the harsh reality of their world. The students in â€Å"The Lesson,† however, perceive school as a mandatory responsibility. The two pictures show that the better the economic level one lives in, the better the learning environment, which leads to greater economic success.

In Another Country Essay

War is the worst thing a mankind can face. For me, war is always associated with sadness, loss, grief and people’s bravery. And all these themes are brightly unfolded in the story â€Å"In Another Country† by Ernest Hemingway, which is under consideration. Hemingway is an American author of the 20th century, who won the Nobel Prize in Literature in 1954. The ones of his famous works include The Sun Also Rises, A Farewell to Arms, The Old Man and The Sea. The popularity of Hemingway’s is based on the themes, which are love, war, wilderness and loss, all of which are strongly evident in the body of work. The title of the story is puzzling, as it has two meanings: direct and indirect one. At first glance, â€Å"In Another Country,† refers to the fact that the American narrator is indeed in a foreign land-Italy. But the other side of it is that the main hero is culturally, emotionally in another country. He is at War, the country of the ‘so-called’ sickness and injuring. Now let me give you the brief reconstruction of the events. It was fall in Milan, a group of soldiers wounded in World War I received treatment at a hospital. There, one of the main characters, the narrator of the story, wounded in his knee, saw three Italian soldiers, but felt a great wall between him and them, because he had received his medal for being an American, and they actually performed feats of bravery to receive theirs. Another main character, the major with the withered hand taught him Italian. One day, the major became angry when Nick mentions about marriage, he burst out, because the major’s wife had just died. The major could not resign himself to the loss of his wife. He was crushed, shattered by the news. While reading the story we can state several key-points, which help us to understand and analyze the context. And the main of them, to my mind are war and bravery. First, let me dwell upon the bravery. The attitude towards bravery is different in terms of the characters of the story. The personality of the narrator is described indirectly, through his thoughts . He wasn’t a brave man during the war. â€Å"I was very much afraid to die†¦ and wondering how I would be when I went back to the front again’. As for the three soldiers, there was no notion of the bravery in the targets of any of these persons. The narrator calls them â€Å"hunting hawks†. They were hunting for medals, material values, given by the government, not for the faith. The attitude of the protagonist and the soldiers are also specific due to attitude towards the war, so was the major. We get to know from the story that they are Italian. They are very patriotic people, and their duty was to protect their country, as the war was on their territory. And the narrator was just an American, Let me quote : â€Å"I had been given the medals because I was an American†¦being wounded, after all, was really an accident. † He didn’t understand why people die, what they fought for. The problem of the ‘lost generation’ arises here. The fact is that Americans were indifferent to the war. Their aim was just to participate and being wounded. As the result, the relationship between the narrator and the soldiers were specific. Let me quote: â€Å"I was a friend, but I was never really one of them†¦ they have done different things to get their medals†, â€Å"I wasn’t a hawk†. As for the major, he didn’t believe in bravery at at. And Through his loss we understand that for the narrator the major was the bravest man of all, as he possessed a strong mind and tried to cope with his feelings like a brave soldier. We are to admit that the author uses different stylistic device, what makes the story more expressive, captivating and interesting to read. First of all it is the usage of foreign words, for instance â€Å"Signor Maggiore†, â€Å"A basso gliufficiali! †, which reflect the Italian atmosphere, where the action takes place. Other stylistic device is symbolism, which, to my mind, prevalent in this story. The recovering machines are the symbol of false promises and hopes. I quote: â€Å"†¦ there were large framed photograps around the wall, of all sorts of wounds before and after they had been cured by the machines†¦ I do not know where the doctor got them†, and this symbol also implicate with irony, e. g. â€Å"You will be able to play football again better than ever†. Other symbols, â€Å"roasted chestnuts†, â€Å"charcoal fire†, are the hopes for the better, because they mean light and warmth. The story makes use of repetition to emphasize the narration â€Å"In the fall the war was always there†, â€Å"It was cold in the fall in Milan and the dark came very early. † He repeats this idea with a slightly different emphasis at the end of the paragraph: â€Å"It was a cold fall and the wind came down from the mountains. † This description of nature here is also rather symbolic. It makes me feel the atmosphere of death and hopelessness. In conclusion I can say that it is smth bloody and sad. But through all these disasters we are to stay humans and bravery ones. The war will finish, but the human nature is eternal.

Who Is Bernadette Devlin McAliskey

Known for:  Irish activist, youngest woman elected to the British Parliament (at 21 years old) Dates: April 23, 1947 -Occupation: activist; member of British Parliament from Mid-Ulster, 1969-1974Also known as: Bernadette Josephine Devlin, Bernadette Devlin McAliskey, Bernadette McAliskey, Mrs. Michael McAliskey About Bernadette Devlin McAliskey   Bernadette Devlin, a radical feminist and Catholic activist in Northern Ireland, was a founder of Peoples Democracy. After one failed attempt to be elected, she became the youngest woman ever elected to Parliament in 1969, running as a socialist. When she was very young, her father taught her much about Irish political history. He died when she was only 9 years old, leaving her mother to care for six children on welfare.  She described her experience on welfare as the depths of degradation.  When Bernadette Devlin was 18 her mother died and Devlin helped care for the other children while finishing college.  She became active in politics at Queens University, founding a non-partisan, non-political organization based on the simple belief that everyone should have the right to a decent life.  The group worked for economic opportunity, especially in job and housing opportunities, and drew members from different religious faiths and backgrounds.  She helped to organize protests including sit-ins.  the group became political and ran candidates in the general election of 1969. Devlin was part of the August  1969 Battle of the Bogside, which attempted to exclude police from the Catholic section of Bogside.  Devlin then traveled to the United States and met with the Secretary General of the United Nations. She was given the keys to the city of New York—and handed them over to the Black Panther Party. When she returned, she was sentenced to six months for her role in the Bogside battle, for incitement to riot and obstruction. She served her term after being reelected to Parliament. She published her autobiography, The Price of My Soul, in 1969, to show the roots of her activism in the social conditions in which she was raised. In 1972, Bernadette Devlin assaulted the home secretary, Reginald Maudling, after Bloody Sunday when 13 people were killed in Derry as British forces broke up a meeting. Devlin married Michael McAliskey in 1973  and lost her seat in Parliament in 1974. They were among the founders of the Irish Republican Socialist Party in 1974. Devlin ran unsuccessfully in later years for the European Parliament and the Irish legislature, the Dail Eireann. In 1980 she led marches in Northern Ireland and in the Republic of Ireland in support of IRA hunger strikers and opposing the conditions under which the strike was settled. In 1981, members of the the Unionist Ulster Defense Association attempted to assassinate the McAliskeys and they were seriously injured in the attack despite British Army protection of their home.  The attackers were convicted and sentenced to life in prison. In more recent years, Devlin was in the news for her support for gays and lesbians who wanted to march in New Yorks Saint Patricks Day Parade. In 1996, her daughter Rà ³isà ­n McAliskey was arrested in Germany in connection with an IRA bombing of a British Army barracks; Devlin protested her pregnant daughters innocence and demanded her release. In 2003, she was barred from entering the United States and deported on grounds of posing a serious threat to the security of the United States, though she had been permitted entry many other times. Quotes: About the incident where police beat a man who tried to protect her at a demonstration: My reaction to what I saw was sheer horror. I could only stand rooted as the police battered and beat, and eventually I was dragged off by another student who came between me and a police baton. After that I  had  to be committed.If I have made any contribution, I hope it is that people in Northern Ireland think of themselves in regard to their  class, as opposed to their religion or to their sex or whether they are well-educated.I hope that what I did was to get rid of the feeling of guilt, of inferiority that the poor have; the feeling that somehow God is or they are responsible for the fact that they are not as rich as Henry Ford.I can think of more traumatic things than finding out that my daughter is a terrorist.I have three children and not if the British government takes all of them will they stop me opposing the inhumanity and injustice of the state.

The Problem Of Water Scarcity - 1555 Words

Lingering water scarcity has been in our global forecast for years. Although water accessibility fluctuates from country to country, climate change, environmental factors and population growth have intensified the dwindling of freshwater worldwide. As a result, tensions have emerged between users nationally and internationally, especially in areas where water reservoirs overlap recognized territorial boundaries. It goes without saying that water shortages eventually result in food shortages and of course deprivation to the expanding cities. Recently, awareness has risen that freshwater globally needs to be protected, so that this crisis does not worsen and steps are taken to prevent sudden emergencies. Such as the one occurring now in California. Technical solutions will only be adequate if accompanied by sensible scientific research of the problem and corrective measures are implemented in a minimal costly way. Worldwide, we need to start thinking about solutions to balance the incr easing depletion of our residual freshwater supplies and hopefully devise some methods to increase the depleted residual aquifers. Otherwise we are going have serious consequences. In many areas around the world, from the United States to northern China and Iran, this long-standing water crisis looms in our future. Iran’s President, Hassan Rouhani, stated last November that, â€Å"We need plan to save water in agriculture, prevent excessive tap water use, and protect underground sources of water asShow MoreRelatedWater Scarcity Problem Of Water1477 Words   |  6 PagesWater is everyone in the world and this is the major reason why many individuals never think about the limited supply of water. People presume that the water supply is infinite. The common saying â€Å"you do not know what you have until it is gone† rings true. 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