...individual, firm and macro levels, and outlines the roles of stakeholders at each level, in fostering national development. It concludes by calling on all stakeholders to play their part in leveraging entrepreneurship and all aspects of business economics to unleash the wealth of human capital that Nigeria is endowed with so that more people can participate in the transformation of Nigeria. Nigeria as the most populous country in Africa is naturally endowed with millions and millions of acres of arable land, 38.5 billion barrels of stated oil reserves, vast gas reserves, a variety of unexploited minerals, and a wealth of human capital by virtue of its estimated population of 150 million. It is the world’s eighth largest exporter of oil, and Africa’s second largest economy, after South Africa. Nigeria accounts for 15 per cent of Africa’s population, contributes 11 per cent of Africa’s total output and 16 per cent of its foreign reserves while it accounts for half of the population and more than two-thirds of the output of the West Africa sub-region. It has been at the forefront of the resolution of many political challenges in Africa. Over the last decade, Nigeria has implemented far reaching economic reforms aimed at improving macroeconomic management, liberalizing markets and trade, and the business environment. The recent developments on the Niger Delta agenda is a sign of the commitment and determination of the government to address its seven-point reform agenda which covers...
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...THE ROLE OF GOVERNMENT IN EDUCATION (Milton Friedman) Economics and the Public Interest ^ | 1955 | Milton Friedman Posted on 7/17/2004 4:04:55 PM by Remember_Salamis THE ROLE OF GOVERNMENT IN EDUCATION by Milton Friedman The general trend in our times toward increasing intervention by the state in economic affairs has led to a concentration of attention and dispute on the areas where new intervention is proposed and to an acceptance of whatever intervention has so far occurred as natural and unchangeable. The current pause, perhaps reversal, in the trend toward collectivism offers an opportunity to re-examine the existing activities of government and to make a fresh assessment of the activities that are and those that are not justified. This paper attempts such a re-examination for education. Education is today largely paid for and almost entirely administered by governmental bodies or non-profit institutions. This situation has developed gradually and is now taken so much for granted that little explicit attention is any longer directed to the reasons for the special treatment of education even in countries that are predominantly free enterprise in organization and philosophy. The result has been an indiscriminate extension of governmental responsibility. The role assigned to government in any particular field depends, of course, on the principles accepted for the organization of society in general. In what follows, I shall assume a society that takes freedom of the...
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...Political: In Singapore, the state has taken on the role of promoter and practitioner of Corporate Social Responsibility, a logical development in view of the dominant role of the government in the local economy. The Economic Development Board Act exists to stimulate the growth, expansion and development of Singapore’s economy. A good example of the role the Singapore government has played in fostering economic growth is the Changi airport and the Singapore Airlines. The Singapore government investment and holding company, Temasek Holdings is the majority shareholder with 54% shareholding of the Singapore Airlines. However, the Singapore government has regularly stressed its non-involvement in the management of the company. The Singapore government also owns Changi Airport that was developed in 1975 to replace the Paya Lebar Airport. Both of these enterprises have become enormously successfully and are a good example of the thoughtful and forward-looking economic policies promoted by the Singapore government. Singapore is an enterprise friendly country. The government has set ups several organizations in helping the business in a very systematic way: 1. Regulation Structure (a)Ministry of Trade and Industry (MTI): It’s mission is to make Singapore a leading global city of talent, enterprise and innovation. Its mission is to promote economic growth and create jobs, so as to achieve higher standards of living for all. The vision of the Ministry of Trade and Industry...
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...Home | Contacts | Feedback About DEI * Background * Staff Organisation * Permament Secrerary's Office * Legal Department * Ethics Education * Finance and Administration IAF Resource Center Legal Department The Legal Department is the policy arm of the Directorate for Ethics and Integrity. Its main objective is to strengthen the Legal and Policy framework to fight corruption and rebuild ethics and integrity in Uganda. With regard to the coordination role, the Legal department is responsible for tracking the enforcement of anti- corruption policy and laws. This exercise is expected to ensure compliance and to enable the identification of challenges that law enforcement agencies face during enforcement and, also a mechanism to identify lacuna in the existing law and, new and emerging issues in the fight against corruption that would require new legislation. Functions of the Department * To Provide legal counsel to the directorate on matters related to the fight against corruption and ensuring ethical governance * To review existing anti- corruption legislation and policy, with a view to proposing ammendments * To identify new and emerging issues in the fight against corruption and develop new legislation or measures to address the same * To ensure compliance with anti- corruption laws and policy by monitoring their implementation * Ensuring that Uganda's legal and policy frame work is in harmony...
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...........4 Challenges facing education in Kenya……………………………………..4 Financing education……………………………………………………......6 Alternative methods of financing education…………………………….....7 Recommendation…………………………………………………………..14 Education task force on free secondary education………………………...15 Conclusion……………………………………………………………….....17 Reference …………………………………………………………………..18 Definition of terms Education- Education is a form of learning in which the knowledge, skills and habits of a group of people are transferred from one generation to the next through teaching, training or research. A right of education has been recognized by some governments ( article13 of UN 1966 International covenant on Economic, social and cultural Rights) recognize the right of every one to an education. Finance- related to money or how money is managed. Is a field that deals with allocation of assets and liabilities over time under conditions of certainty and uncertainty. Is also a science of money management. Key point in finance is the time value of money, which states that purchasing power of one unit of currency can vary over time It can be broken down into 3 different sub- categories; Beneficiary- a person/ group who receives money, advantage etc. Introduction In Africa countries large investment is done in education and is a concern for many because on the one hand resources are scarce. However a greater concern in recent years is that the demand of education is feeds on its self’, this...
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...HIGHER EDUCATION IN PAKISTAN From State control to State supervision Wasim Anwar Masther thesis for the Master of Philosophy degree in Comparative and International Education, Institute for Educational Research UNIVERSITETET I OSLO 31st October 2007 Acknowledgements Firstly, I would like to thank my supervisor Carl. J. Hatteland for his continuous support for the completion of the thesis. Secondly, thanks to the faculty of Educational Research and all teachers for inspiration to choose research in the field of higher education. Thirdly, support of my parents and wife without which I would have been not able to complete this thesis. Oslo, October 2007 Wasim Anwar 2 Abstract. Higher Education forms part of every society. This study focuses on the higher education in Pakistan. It presents development of higher education in Pakistan in which the government has played a major rule for forty years. The higher education system in Pakistan for the majority of the years has remained under the state control; government has played a major role in policy making and implementation. This dependence has given growth to a higher education dependent on the government funds. With an increase in the student numbers, diversification of higher education and with the entrance of private sector has changed the scenario. The increase in number of private higher educational institutions with government finances shrinking, has given rise to a lot of challenges for...
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...foresees that by the year 2025, “Tanzania should have created a strong, diversified, resilient and competitive economy, which can effectively cope with the challenges of development and, which can also easily and confidently adapt to the changing market and technological conditions in the regional and global economy”. The challenge is therefore to mobilise human and other resources towards that goal. 2. Economic Reform Programmes implemented by the Tanzanian Government have been based on the philosophy that Tanzania is committed to a market economy whereby the private sector will take the lead in creating incomes, employment and growth. On the other hand, the State will be a producer of public goods, play a regulatory role to level the playing field and create conducive environment for the private sector to take the lead in driving economic growth. This philosophy is evident in almost all policy statements made since 1986 and in particular after 1996. The private sector has started playing an ever- increasing role in creating incomes and employment. Small and Medium Enterprises (SMEs) account for a large share of the enterprises active in Tanzania. In fact Small and Medium Enterprises are the emerging private sector and do form the base for private sector-led growth. 3. SMEs, important as they are to the economy, have been facing a number of problems despite the on-going reform programmes. This is due to a number of factors, one of which is a persistent culture...
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...Trade, Economics and Finance, Vol. 3, No. 4, August 2012 Impact of Globalization on Trends in Entrepreneurship Education in Higher Education Institutions Norasmah Othman, Nor Hafiza Othman, and Rahmah Ismail Abstract—With the trend of increasing globalization, entrepreneurship has been receiving more attention from government and educational institutions. Changes in the uncertain world economy have resulted in fewer job opportunities for college graduates, and in response, the government has sought to develop creativity among students through entrepreneurial activities and programs. The question now is, Are the increasing trends of changes and demands for entrepreneurship education due to the impact of globalization? To answer this question, this study examined the impact of globalization on trends in the demand for business and entrepreneurship education and entrepreneurial skills in Malaysia. Questionnaire data were obtained from 306 participants. The participants were randomly selected from the population of administrators in higher education institutions in Malaysia. Data were analyzed using the descriptive statistics method. The findings show that there is an increasing demand for entrepreneurship education and entrepreneurial skills, indicating that globalization has influenced the demand for entrepreneurship education and entrepreneurial skills among university graduates. Index Terms—Globalization, higher education, entrepreneurship education, entrepreneurial skills...
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...Finance and Accounting Industry By Cheryl Yeager June 15, 2012 Saint Leo University MBA 525 Dr. Craig Winstead The Finance and Accounting Industry is a very broad and integrated program that prepares individuals to function as accountants and financial managers and various types of analysts. This industry encompasses banking, financial advisors, A few major players: http://www.fins.com/Finance/Articles/SB128448692525537761/Finance-Firms-Top-100-Best-Companies-List “Statistics from official reporting agencies, such as the U.S. Bureau of Labor Statistics and the Institute for Certified Practicing Accountants (ICPA), continue to reveal a robust future for job seekers in finance and accounting and the companies willing to hire them, despite an unemployment rate that's still hovering around 9 percent (White, 2011, para. 1).” There are typically a vast amount of finance and accounting jobs available, but hiring officials find it difficult to match skills with job requirements. The typical educational requirements for finance and accounting vary according to the type of job the applicant is seeking. Ever job does not require continuing educations, but the more specialized the job becomes means having additional education. A great example of this would be the Government sector. The requirements to be hired and promoted within the finance arena did not require a degree for accountants, budget analyst, or financial managers. As jobs have become increasingly...
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...Running head: DEFINING FINANCIAL TERMS Defining Financial Terms University of Phoenix Defining Financial Terms a. Finance: “Financial management is concerned with the maintenance and creation of economic value or wealth” (Keown, Martin, Petty, & Scott, 2005, p. 4). • Role in finance: Finance within a company is vital since it leads toward creating wealth. It helps make decisions such as when to introduce new products, when to invest in new assets, and when to borrow money. (Keown et al., 2005, p. 4). b. Efficient Market: “A market in which the values of all assets and securities at any instant in time fully reflect all available public information” (Keown et al., 2005, p. 16). • Role in finance: To provide quick information with accurate and right prices. c. Primary Market: “Transactions in securities offered for the first time to potential investors” (Keown et al., 2005, p. 484). • Role in finance: Provide a channel for sale of new securities. In addition, it also provides a variety of opportunities to those who issue securities such as corporations, or government, to raise resources to meet their requirements within their obligations. d. Secondary Market: “The market in which stock previously issued by the firm trades” (Keown et al., 2005, p. 11). • Role in finance: To provide a place for investors/public an efficient place to trade his/her securities. For management of firms, secondary markets serve as control...
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...DEVELOPMENT FINANCE & ITS ROLE IN RURAL AREAS TO ALLEVIATE POVERTY 2010 M. MOBASHAR ALI & RANA RASHID REHMAN STATE BANK OF PAKISTAN-BANKING SERVICES CORPORATION SIALKOT 9/3/2010 Contents INTRODUCTION 4 LITRATURE REVIEW 4 REVIEW OF POVERTY IN PAKISTAN 6 SBP INITIATIVES IN TO PROMOTE DEVELOPMENT FINANCE 8 ESTABLISHMENT OF DEVELOPMENT FINANCE GROUP 8 ESTABLISHMENT OF AGRICULTURE FINANCE DIVISION 9 PUBLIC AWARENESS PROGRAMS 10 DEVELOPMENT FINANCE PROGRAMS CURRENTLY IN OPERATION 11 NONGOVERNMENTAL ORGANIZATIONS (NGOs) 11 RURAL SUPPORT PROGRAM (RSP) 11 AGA KHAN RURAL SUPPORT PROGRAM (AKRSP) 11 SARHAD RURAL SUPPORT PROGRAM 12 NATIONAL RURAL SUPPORT PROGRAM (NRSP) 12 ROLE IN POVERTY ALLEVIATION 12 TRANSMISSION MECHANISM OF FINANCE TO POVERTY ALLEVIATION 14 DEVELOPMENT FINANCE SUCCESS STORIES 15 CONCLUSION 16 BIBLIOGRAPHY 17 Figure 1 8 Figure 2 10 Figure 3 10 Figure 4 13 Table 1 7 Table 2 7 Table 3 9 Table 4 10 Table 5 13 INTRODUCTION Development Finance is the offering of financial services to the entrepreneurial poor that contributes finally to the economic growth. Although the most notable of these services is the provision of credit, many other offerings are a part of Development Finance including credit for business activities and credit for emergency and for the fulfillment of life cycle needs. Many Development Financial Institutions (DFIs) give finance for to the...
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...Changing role of government INTRODUCTION The market was the most appropriate instrument for realizing economic growth & improving human welfare. The state’s role was thus to be restricted to certain core function – providing public good such as defence & highways, maintaining law & order to ensure security of person & property, enforcing contracts & providing primary education to the people. In 19th century the government role in redistributing income was limited & tax system were used entirely for revenue raising, state thus remained small by modern standards until world war first. In developed economies of the west, the policy makers by & large agreed on three principles. First, there was agreement on the limitations of the private enterprise & thus mixed public-private economy was regarded as desirable. This implied nationalizing a wide range of strategic industries. Secondly, need for a coordinated macroeconomic policy was recognized because market alone failed to ensure macroeconomic stability that is that is needed for sustained growth of business. Finally, reliance entirely on market For the welfare of the people was a questionable proposition. In the three and a half decades between 1960 & 1995, government western economies assumed new role & expanded existing ones. By the mid-1990s the range of tasks performed by the government & its agencies included not only maintaince & development of infrastructure & utilities but also much more support for education, health care...
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...CHAPTER 1 Introduction Education is the key to success, but what makes it really a pathway for success is first, knowing what you as student really wants. In this generation most of the students haves this path changing mind. From this course shifting for another, course from the to time students tend to change their way of thinking. This study conduce to know what are the different factors affecting the rapid change in number of the students shifting to Financial Management. Financial Management is a course under Business Administration and refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization. Financial Management is the Operational Activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operation (Joseph Massie, 2015). Vinod Verma (2015) explained that Finance Management is not only for business but also for every expenses. Like it’s for the home base expenses or the government expenses. The government also need to manage the finance for the develop of the counter and the household also need to manage their expenses properly. Citing an example in our former year being a finance student way back 2nd year semester, there are new block mates that shifts to BSBA – FM from the other course and this example show what can be the possible factors in shifting or enrolling in Finance major. This analysis purpose...
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...Banking industry has shown tremendous growth in volume and complexity during the last few decades. Despite amplified thrust by the government on increase of branch network across the country since 1969, still the fruits of the banking not reached to the common man which is evident from the below: Ø Half of the residents are out of the banking system and unable to prove their identity on account of poor financial back ground and belong to Below Poverty Line (BPL) segment. Ø 60% of farmers do not have access to credit from Banks. Ø Poor pay usurious interest at 40% to 50% to Money Lenders. Even Micro Finance Institutions charge 20-30% interest. Ø More than 40% of the government’s subsidy and social spending is being siphoned off, mostly by “ghosts” and undeserving recipients. Ø In spite of best efforts, the various welfare/employment generated programs aimed at poor households with huge budget allocations (NREGS, JSY and PDS) are going into unscrupulous hands and leading to widespread leakage of public money. http://www.allbankingsolutions.com/Articles/Articles-NSNR-Financial-Inculsion-Role-of-IT.shtml Financial Inclusion: How India can achieve it? “Inclusive growth” was one of the important objectives of eleventh five year plan in India. Inclusion of each and every section of the society in the process of economic development and achieving growth with equity is the basic objective of “inclusive...
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...0305-750X/$ - see front matter doi:10.1016/j.worlddev.2004.12.001 Economic Liberalization, the Changing Role of the State and ‘‘Wagner’s Law’’: China’s Development Experience since 1978 DAMIAN TOBIN * CeFiMS, SOAS, University of London, UK Summary. — The paper applies Wagner’s Law of increasing state activity to illustrate the changing function of the state in China as a consequence of economic liberalization. Wagner’s Law describes the association between increasing national wealth in progressive states and the rise in state activity and expenditure. This indicates that the causes of bureaucratic expansion are to be sought, not just in terms of political pressures, but the interplay between political considerations and the economic necessities, resulting from the emergence of new property rights. A simple illustrative model is developed to measure the effects of increasing national wealth and the growth of the public sector. This suggests that the patterns of economic development observed by Wagner in 19th century Europe are not unlike those observed in China today. Ó 2005 Elsevier Ltd. All rights reserved. Key words — Asia, China, economic growth, public sector 1. INTRODUCTION The relationship between economic growth and the size of the state sector has long been a topic of interest for public policy practitioners and academics alike. Throughout history, the role of the state has been critical in determining particular economic outcomes. Research in this area has in general...
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