Current Issue : July - September Volume : 2012 Issue Number : 3 Articles : 7 Articles
The clusters with agro-industrial profile were developed within this scientific paper, based on a\r\nnew conception of the capitalization of agricultural production at a regional level. In this approach\r\n\"the agricultural farms\" are more than basic links of the agro-industrial chain, they are the\r\n\"essential links\" without which \"the chain\" cannot serve as economic and social organization. The\r\nconsumer has become the basic link of the chain, and in order to meet its requirements and options,\r\nthe agro-industrial enterprises must come in a more effective way. The cluster proposed by this\r\nstudy must produce ââ?¬Å?what is requiredââ?¬Â and ââ?¬Å?how much is requiredââ?¬Â on the market. This agroindustrial\r\nchain highlights the cluster size (type, dimension and production capacity of goods), its\r\nchain links and the value added by this cluster. The overall objective of the \"network enterprises\"\r\nwhich constitute this agro-industrial cluster is to help its members to achieve increased production\r\ncapacity and to be more profitable. A cluster model for enhancing grain production, integrated at\r\nregional level is proposed within this study....
Year in year out, Nigerians always hear of billions and trillions of naira budgeted as capital expenditure\r\nin our annual budget. This amount undoubtedly continues to increase with each passing year, but the\r\nsociety is always at a loss as to where the money was invested. There seems to be wide disparity\r\nbetween budget proposal and accomplishment. The government at all levels are accused of disregard\r\nfor budgetary provisions, late passage of budget, involvement in extra-budgetary activities, late release\r\nof capital vote and selective implementation of budget. This paper therefore investigates whether or not\r\nthere is a significant difference between the mean of budgeted capital and expended capital using some\r\ninfrastructures in some selected local government. The paper adopts a basic research approach where\r\ndata were obtained from secondary sources, mainly from published materials which include annual\r\nfinancial statements and publication of approved budget estimates covering the period of study. A\r\nstratified random sampling was adopted in selecting the sample. A method of descriptive analysis was\r\nused in analyzing the data. The method includes measures of central tendencies and test of equality\r\namong the means of budgeted capital and expended expenditure on each project per local government.\r\nThis test uses the student t-test of differences of means. The outcome of the paper shows that there\r\nwas a positive and significant relationship between budgeted capital and actual expenditure. The\r\nimplication of this is that an increase in budgeted capital will lead to an increase in capital expenditure\r\non that infrastructure....
The focus of our research is on the Romanian banking sector, analysing if, over the period 2002 \r\nto 2009, foreign banks have been more efficient than their domestic peers, as foreign banks can \r\nbenefit from the experience and superior know-how of their parent banks and thus achieve a \r\nsuperior organisation and management process. To reach this aim, we have used the Data \r\nEnvelopment Analysis approach, estimating the cost, allocative, technical, pure technical and \r\nscale efficiencies; and afterwards we have conducted also a series of parametric and nonparametric tests in order to establish if foreign and domestic banks are coming from the same \r\npopulation. The results of the paper underline the fact that in the Romanian banking market, \r\nforeign banks are truly more efficient than the domestic ones for being able to better use their \r\nadvantages and obtain a higher productivity of their inputs. Moreover, during the researched \r\nperiod the efficiency of the banking sector has not been improved, mainly as a consequence of \r\nthe financial crisis....
This study takes a look at the impact of the capital market in the development of the Nigerian economy.\r\nThe main objective includes; identifying the importance of the capital market. Data were collected from\r\nthe Central Bank Statistical Bulletin from the period of 1992 to 2007 and the Ordinary Least Square and\r\ncochrane ââ?¬â?? Orcutt iterative methods were used to analyze the data. It was discovered that the capital\r\nmarket has not contributed positively to the development of the Nigerian economy. However, there is a\r\npositive correlation between the rate of transactions in the capital market and the development of\r\nNigerian economy. It is recommended that stringent requirement for entry into the capital market\r\nshould be relaxed and adequate publicity should be given to the activity at the capital market, it is\r\nbelieved that when these recommendations are implemented, the impact of capital market on the\r\neconomy will be positive....
The aim of this paper is to identify the effect of political instability on investment and economic growth.\r\nBy using a dynamic balanced panel data model applied on annual data from 11 countries from the\r\nMiddle East and North Africa (MENA) region over the period of 2000 to 2009. The political instability�\r\neffect on the contribution of investment to economic growth has been the subject of a second empirical\r\nstudy within the framework of this research paper. The main outcomes drawn by these two empirical\r\ntests prove that there is no effect of political instability on investment and economic growth and a\r\nnegative interaction between political instability and investment....
This paper examines the relative importance of monetary factors in driving inflation in Malawi. A\r\nstylized inflation model is specified which includes standard monetary variables, the exchange rate\r\nand supply-side factors. The results indicate that inflation in Malawi is a result of both monetary and\r\nsupply-side factors. Monetary supply growth drives inflation with lags of about 3 to 6 months. On the\r\nother hand, exchange rate adjustments play a relatively more significant role in fuelling cost-push\r\ninflation. It is further observed that slumps in production generate inflationary pressures. At policy\r\nlevel, the Reserve Bank should ensure that broad money supply expands in line with nominal gross\r\ndomestic product (GDP). However, it must be emphasized that monetary policy alone might not\r\naddress other exogenous structural shocks considered as additional causes of inflation. What\r\nmonetary policy can do is to slowdown the rate of inflation expectations by ensuring that prices in\r\nother categories of non-food items slow down. For example, it has been shown that exchange rate\r\nshocks have a strong effect on inflation. Given this finding, exchange rate stability is a key to\r\nanchoring inflation expectations, as the exchange rate pass-through in Malawi is relatively high.\r\nFinally, measures to control inflation must also emphasize enhancing production and supply,\r\nespecially of food. Thus, inflationary control should aim at policies which are directed at both\r\nmonetary and supply factors....
This study examined whether there was a relationship between the level of democracy and economic\r\ngrowth. For this purpose, the study took into account developed countries, also developing and some\r\nof the Eastern European countries and panel data analysis has been used to observe the relationship.\r\nAustria, Belgium, Denmark, France, Italia, Holland and the United States were selected as\r\nrepresentative of developed countries. This study considered Argentina, Chile, Egypt, Greece, India and\r\nTurkey as developing countries. Also, some of the Eastern European countries which experienced\r\ncommunist regime such as Albania, Bulgaria and Check Republic, Estonia and Romania have been\r\naccounted and evaluated in the developing countries category. The results suggested that the level of\r\ndemocracy did not affect economic growth for developed countries, yet the level of democracy\r\nnegatively affected economic growth of some of the Eastern European countries....
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