...1542, died of fever. Hernando De Soto was a spanish explorer. He discovered the mississippi river. He had a share of no less than 18,000 ounces of gold when he returned to spain in 1536. He assembled a fleet of 10 ships and selected a crew of 700 men based on their fighting ability. He departed on april 6, 1538. While exploring the highlands in 1533, de soto came upon a road leading to cuzco, the capital of peru's incan empire. De soto played a fundamental role in organizing the conquest of peru, and engaged in a successful battle to capture cuzco. Despite having a new wife and a home in spain, de soto grew restless when he heard stories about cabeza de vaca's exploration of florida and the other gulf coast states. In 1532, explorer...
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...the developing world, classical economists such as Lewis predicted large waves of migration that would transform the urban space into an industrial site. Yet, the most noticeable phenomenon of migration was a rise and establishment of an informal sector, comprising up to 90% of jobs and 70% of GDP production in countries like India. Are these results perverse, i.e. contrary to the accepted or expected norm? Looking specifically at cities in Ghana and Pakistan, while economic policies must take some blame for the lack of industrialisation, the rise and perseverance of an informal sector results of the confrontational and antagonising policies taken against rural to urban migration, which itself was misunderstood by authorities. More recent research proves that while the informal sector remains as prominent, it is not incompatible with the development of industry. The traditional explanation of migration towards cities (rural-urban migration) is laid out by Lewis in a model that emphasises how the economy goes through structural change. The Lewis model assumes a dualistic economy, where a productive industrial/manufacturing sector sets wages WM at the marginal product of labour contrasts with an unproductive agricultural sector that follows an average product rule. Following classical economics, the industrial production process involves the input of capital such as machines to...
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...A Research Paper On Why Capitalism Succeeded In Generating An Industrial Revolution In Other Countries But Failed In The Philippines Submitted by Manuel Ortega Abis Student No. 11-71-003, BPA Special Program Batch 8-A CAPA, Universidad de Manila Professor Ronaldo J. Navata PREFACE The research materials and references used in this research paper were managed to be gathered through unlimited internet hours and limited library hours, but the pages on the web and the pages of the book offered equal enlightenment and enjoyment. The premises and conclusions built and reached in this paper are products of the researcher’s serious analysis of the Philippine economic situation. The researcher, however, is praying that his objectivity and the sincerity of his language shall not fail him in his own humble attempt to bring this mini-thesis to its just and proper course and closure. The twin causes formulated in this paper are generally subdivided into two: the concept of economic will (policy system of governance) and the concept of economic ownership (property system of the governed). Further reading is advised on critical and related topics of this paper. For the economy, these words: there is no such thing as the co-existence of freedom and equality. God bless the Philippines! ______________________________________________________________________________ ...
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...Endsley he full spectrum of real estate risk analysis begins with the traditional banking infrastructures needed to fund property development and economic growth. The spectrum extends to the newer securitization products and property rating systems being developed to accelerate growth in mature economies. This spectrum also includes developing economies, economies in crisis, and economies in transition. Without a plan to spread rational and transparent capital development to every area of the world, economic uncertainty and threats to security will spread instead. Most importantly, the real estate spectrum includes a diverse group of citizens, governments, civil societies, and corporations that share power, often in inequitable ways. This paper looks at the role of the independent real estate valuer in examining the current distribution of the wavelengths that make up the continuum of real estate and capital markets. It examines the strands that make up this spectrum and offers suggestions for strengthening these individual strands and thereby amplifying the whole. Independent, ethical, and informed real estate valuers must analyze the full spectrum of real estate risks to protect the assets of a global public and help ensure an equitable sharing of economic power in the future. Spectrum Analyzers “Common spectrum analyzer measurements include frequency, power, modulation, distortion, and noise. Understanding the spectral content of a signal is important, especially in systems...
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...A Short History of the Washington Consensus John Williamson Senior Fellow, Institute for International Economics Paper commissioned by Fundación CIDOB for a conference “From the Washington Consensus towards a new Global Governance,” Barcelona, September 24–25, 2004. The term “Washington Consensus” was coined in 1989. The first written usage was in my background paper for a conference that the Institute for International Economics convened in order to examine the extent to which the old ideas of development economics that had governed Latin American economic policy since the 1950s were being swept aside by the set of ideas that had long been accepted as appropriate within the OECD. In order to try and ensure that the background papers for that conference dealt with a common set of issues, I made a list of ten policies that I thought more or less everyone in Washington would agree were needed more or less everywhere in Latin America, and labeled this the “Washington Consensus.” Little did it occur to me that fifteen years later I would be asked to write about the history of a term that had become the center of fierce ideological controversy. The first section of this paper describes what I recollect about the background to my background paper for the 1989 conference. The second section retraces much more familiar ground, summarizing the ten points that I included in the Washington Consensus. This is followed by an account of the reception given to the term, and the analysis....
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...INTRODUCTION Following this introduction on Nigeria’s economic development challenge, this paper reviews business economics, outlining the relationship with innovation and social entrepreneurship. It also presents a holistic framework for economic development covering the 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...
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...AMRITA BUSINESS SCHOOL, BENGALURU | MICROFINANCE INSTITUTIONS | MARKET RESEARCH PROJECT | | | Contents LIST OF TABLES 2 INTRODUCTION 2 WHY MICROFINANCE? 3 MICRO FINANCE SERVICE PROVIDERS 4 THE EMERGENCE OF PRIVATE MICROFINANCE INDUSTRY 4 MICRO FINANCE IS ALL AROUND US 5 LITRETURE REVIEW 6 SUMMARY OF Y. H. MALEGAM COMMITTEE REPORT 2011 14 Why Malegam Committee Report was Set up? 15 Key recommendation 16 PROFIT AND NON PROFIT ORGANIZATION 21 Differences between for-profit MFI’s and non-profit MFI’s 23 For Profit MFI 23 Non Profit MFI 24 METHODOLOGY 25 CAPITAL STRUCTURE AND ASSET ALLOCATION 25 DEPTH AND BREADTH OF OUTREACH 27 EFFICIENCY 28 PRODUCTIVITY 29 QUALITY OF THE PORTFOLIO 31 ANALYSIS OF NUMBER OF ACTIVE BORROWERS 33 PROFITABILITY AND SUSTAINABILITY 35 CONCLUSION 36 REFERENCES 36 LIST OF TABLES Table 1 Table of Comparision 12 Table 2 Comparison of Debt Equity Ratio 25 Table 3 Debt Equity Ratio 26 Table 4 Comparison of Depth and Breadth of MFIs for the year 2012 with 2010 27 Table 5 Comparison of Depth and Breadth of MFIs for the year 2011 with 2010 27 Table 6 Operating Expense / Loan Portfolio 28 Table 7 Industry Standard for Operating Expense / Loan Portfolio 29 Table 8 Productivity of MFI’s for the year 2010 29 Table 9 Productivity of MFI’s for the year 2011 30 Table 10 Industry standards for year 2010 30 Table 11 Quality of portfolio for the year 2010 31 Table...
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...Microfinance From Wikipedia, the free encyclopedia Jump to: navigation, search This article may be too technical for most readers to understand. Please help improve this article to make it understandable to non-experts, without removing the technical details. The talk page may contain suggestions. (January 2010) Community-based savings bank in Cambodia. There are a rich variety of financial institutions which serve the poor. Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services. More broadly, it is a movement whose object is "a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, including not just credit but also savings, insurance, and fund transfers."[1] Those who promote microfinance generally believe that such access will help poor people out of poverty. Microfinance is a broad category of services, which includes microcredit. Microcredit is provision of credit services to poor clients. Although microcredit is one of the aspects of microfinance, conflation of the two terms is endemic in public discourse. Critics often attack microcredit while referring to it indiscriminately as either 'microcredit' or 'microfinance'. Due to the broad range of microfinance services, it is difficult to assess impact, and very few...
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...strategy+business The Fortune at the Bottom of the Pyramid by C.K. Prahalad and Stuart L. Hart from strategy+business issue 26, first quarter 2002 © 2002 Booz Allen Hamilton Inc. All rights reserved. e-Doc The Fortune at the of the Bottom Pyramid by C.K. Prahalad and Stuart L. Hart SECURITY AND S T R AT E GY content strategy & competition Low-income markets present a prodigious opportunity for the world’s wealthiest companies — to seek their fortunes and bring prosperity to the aspiring poor. 1 With the end of the Cold War, the former Soviet Union and its allies, as well as China, India, and Latin America, opened their closed markets to foreign investment in a cascading fashion. Although this significant economic and social transformation has offered vast new growth opportunities for multinational corporations (MNCs), its promise has yet to be realized. First, the prospect of millions of “middle-class” consumers in developing countries, clamoring for products from MNCs, was wildly oversold. To make matters worse, the Asian and Latin American financial crises have greatly diminished the attractiveness of emerging markets. As a consequence, many MNCs worldwide slowed investments and began to rethink risk–reward structures for these markets. This retreat could become even more pronounced in the wake of the terrorist attacks in the United States last September. The lackluster nature of most MNCs’ emergingmarket strategies over the past decade...
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...The Fortune at the of the SECURITY AND S T R AT E GY Bottom Pyramid by C.K. Prahalad and Stuart L. Hart content strategy & competition Low-income markets present a prodigious opportunity for the world’s wealthiest companies — to seek their fortunes and bring prosperity to the aspiring poor. 1 With the end of the Cold War, the former Soviet Union and its allies, as well as China, India, and Latin America, opened their closed markets to foreign investment in a cascading fashion. Although this significant economic and social transformation has offered vast new growth opportunities for multinational corporations (MNCs), its promise has yet to be realized. First, the prospect of millions of “middle-class” consumers in developing countries, clamoring for products from MNCs, was wildly oversold. To make matters worse, the Asian and Latin American financial crises have greatly diminished the attractiveness of emerging markets. As a consequence, many MNCs worldwide slowed investments and began to rethink risk–reward structures for these markets. This retreat could become even more pronounced in the wake of the terrorist attacks in the United States last September. The lackluster nature of most MNCs’ emergingmarket strategies over the past decade does not change the magnitude of the opportunity, which is in reality much larger than previously thought. The real source of market promise is not the wealthy few in the developing world, or even the emerging middle-income...
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...strategy + business issue 26 The Fortune at the of the SECURITY AND S T R AT E GY Bottom Pyramid by C.K. Prahalad and Stuart L. Hart content strategy & competition Low-income markets present a prodigious opportunity for the world’s wealthiest companies — to seek their fortunes and bring prosperity to the aspiring poor. 2 With the end of the Cold War, the former Soviet Union and its allies, as well as China, India, and Latin America, opened their closed markets to foreign investment in a cascading fashion. Although this significant economic and social transformation has offered vast new growth opportunities for multinational corporations (MNCs), its promise has yet to be realized. First, the prospect of millions of “middle-class” consumers in developing countries, clamoring for products from MNCs, was wildly oversold. To make matters worse, the Asian and Latin American financial crises have greatly diminished the attractiveness of emerging markets. As a consequence, many MNCs worldwide slowed investments and began to rethink risk–reward structures for these markets. This retreat could become even more pronounced in the wake of the terrorist attacks in the United States last September. The lackluster nature of most MNCs’ emergingmarket strategies over the past decade does not change the magnitude of the opportunity, which is in reality much larger than previously thought. The real source of market promise is not the wealthy few in the developing world...
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...Resumen ejecutivo 2 Introducción 5 I. Desarrollo de la economía informal: contexto histórico y económico 8 I.1. Interpretación institucional-legal I.2. Expansión de la economía informal I.3. La economía informal: Definiciones I.4. Agentes que participan I.5. El caso de México I.6. Sobreviviencia y rentabilidad I.7. Efectos macroeconómicos 8 9 10 12 15 17 18 II. La economía informal en el mundo 21 III. La economía informal en México 27 III.1. Medición del sector informal III.2. El mercado de trabajo en México III.2.1. Condiciones de empleo III.3. Economía informal III.4. El sector no estructurado en México III.4.1. Ocupación III.4.2. Género III.4.3. Edad III.4.4. Escolaridad III.4.5. Población ocupada por sectores III.4.6. Ingresos III.4.7. Distribución geográfica 27 28 32 33 37 37 39 39 40 40 43 46 III.5. Economía informal y recaudación tributaria III.6. Economía informal y regulación III.7. Acciones gubernamentales III.7.1. Programas de empleo III.8. Legislación III.8.1 Iniciativas 49 53 56 57 60 60 IV. Comentarios finales 62 RESUMEN EJECUTIVO ● La existencia de economía informal se ha intentado explicar por la insuficiente creación de empleos formales producto del bajo crecimiento del PIB, por la subcontratación de empresas informales por parte de las empresas formales, y por las excesivas regulaciones que aumentan el costo de la formalidad, por ejemplo, por los trámites y recursos...
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...GENERAL TYPES OF LITERATURE Literature can generally be divided into two types: prose and poetry. Prose consists of those written within the common flow of conversation in sentences and paragraphs, while poetry refers to those expressions in verse, with measure and rhyme, line and stanza and has a more melodious tone. I. Prose There are many types of prose. These include novels, biographies, short stories, contemporary dramas, legends, fables, essays, anecdotes, news and speeches. 1. Novel. This is a long narrative divided into chapters. The events are taken from true-to-life stories and spans a long period of time. There are many characters involved. 2. Short Story. This is a narrative involving one or more characters, one plot, and one single impression. 3. Plays. This is presented in a stage. It is divided into acts and each act has many scenes. 4. Legends. These are fictitious narratives, usually about origins. 5. Fables. These are fictitious and they deal with animals and inanimate things who speak and act like people and their purpose is to enlighten the minds of children to events that can mold their ways and attitudes. 6. Anecdotes. These are merely products of the writer’s imagination and the main aim is to bring out lessons to the reader. 7. Essay. This expresses the viewpoint or opinion of the writer about a particular problem or event. 8. Biography. This deals with the life of a person which may be about himself, his autobiography...
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...level of development is sufficiently high. Bribery, however, is associated with holdup problems, which discourage firms from investing. If the holdup problems are severe, firms will never invest enough to make lobbying worthwhile. The country may then be stuck in a poverty trap with bribery forever. The model can account for the common perception that bribery is relatively more common in poor countries, whereas lobbying is relatively more common in rich ones. In India, as elsewhere in the developing world, the old business of corruption is meeting a new rival: the Washington-style business of persuasion — –International Herald Tribune, May 31, 2006 ◦ W L obbying and corruption have been the subject of tremendous public interest and research. Surprisingly, these two means of influencing regulation have either been studied separately or viewed as basically being one and the same. The question of why firms choose to lobby or bribe, and of the consequences of this choice, remains largely unanswered. The common perception is that firms in developing countries are more likely to pay bribes to get around regulatory constraints, whereas firms in developed countries are more prone to lobby the government to change the rules. There is also evidence, both across and within countries, that the...
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...2012 Doing business in a more transparent world C O M PA R I N G R E G U L AT I O N F O R D O M E S T I C F I R M S I N 1 8 3 E C O N O M I E S © 2012 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org All rights reserved. 1 2 3 4 08 07 06 05 A copublication of The World Bank and the International Finance Corporation. This volume is a product of the staff of the World Bank Group. The findings, interpretations and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank, 1818...
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