Annals Of Financial Economics

  • Economics

    Kaplan University | Economic Indicators | GB540 – Unit 5 Assignment | | By: Marylin Cortes | 10/9/2012 | MetLife, Inc. is a global provider of individual insurance, employee benefits and financial services with operations throughout the United States and the regions of Latin America, Europe, and Asia Pacific. MetLife, being an insurance company, have different types of resources of revenue besides just collecting insurance premiums and as such they rest on on several macroeconomic

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  • . Economic and Financial Market Outlook

    Article 1. ECONOMIC AND FINANCIAL MARKET OUTLOOK (June 2012) No replay of 2011 in the cards for Canadian and US economies Part 1. Summary of the Article First article that I chose is the outlook for advanced economic and financial market particularly US, European union, Canadian and Chinese market that are strongly influence to the world market. Source of the Information and analysis are IMF World Economic outlook and RBC Economic research for year 2012 and forecast for year 2013. This

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  • Economics

    Introduction to Balance of payments The Balance of Payments (BOP) is a measure of all the financial transactions flowing between one country and all other countries during a specific period, usually a quarter or a year. It is also the name of the official record of these transactions. A positive, or favorable, balance of payments is one in which more payments have come in to a country than have gone out. A negative or unfavorable balance means more payments are going out than coming in. The BOP

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  • Economics

    course covers both Macro and Micro Economic principles and is aligned with the California State Standards for Social Science in Economics. It is designed to provide a basic understanding of the core concepts, ideas, and theories relevant to the study of Economics as a social science in today’s world. Although many of the topics we cover will be new to many students, it is my goal to relate them to both the life of a teenager about to embark on his or her own economic odyssey and the larger issues filling

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  • Economics

    companies making up the cartel because of fuel and other surcharges . This has previously happened in the United States, where the Department of Transportation did not agree to authorize the surcharge since airlines were unable to provide a proper economic justification. In addition, the Association International Air Transport Association (IATA), a body representative of the airline industry, announced that the imposition of the surcharge was likely to conduct illegal and a serious breach of the rules

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  • Financial Economics

    08 Fall 08 Fall Organizational Structure The organization that I currently work for is a hospital within the Advocate Healthcare System, it is the logical choice to use as my selected organization because I am currently on staff at one of their hospitals and have also had extensive opportunities to see how other health care systems work. Advocate prides itself on its marketable approach to healthcare in todays society, they have embraced the technological changes and advancements that

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  • The Impact of Financial Liberalization Reform on Economic Growth: an Empirical Survey on China

    The impact of financial liberalization reform on economic growth: an empirical survey on China Introduction: In the past few decades, financial liberalization would be a main driving force and trend on countries’ financial reform. It aims to eliminate restrictions on financial markets and financial institutions, both domestically and internationally (Financial Liberalization). Thus, as a benefit of financial liberalization, a surge of competition and innovation was awakened in the US and rapid spread

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  • Economic

    The number of unemployed people in the eurozone reached its highest level since the creation of the euro in 1999, according to The Financial Times, stoking recession fears. The number of unemployed people in the eurozone rose 0.3 percent in November to a record high of 16.37 million, according to Eurostat, the European Commission's statistics office. Economic sentiment, a measure which includes consumer and business confidence, fell 0.9 percent, and retail sales in the eurozone plunged 0.8

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  • The Role of Central Banking in the Global Economic and Financial Crisis

    Role of Central Banking in the Global Economic and Financial Crisis" 1. Introduction It is fair to say that central banks around the world have learned the lessons from previous crises and they attempted to change financial regulations to keep pace with the changing global financial system. The policy response triggered by the recent financial crisis has been rapid and it appears that the global policy response has helped to mitigate the effects of the financial crisis. European Central Bank response

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  • Economics

    AUSTRALIA’S ECONOMIC STIMULUS PLAN TABLE OF CONTENTS Abstract 1.0 Introduction……………………………………………………………………………………2 1.1 Background/ History of Australia’s Stimulus Plan……………………………………………2 1.2 Definition of Fiscal Deficit……………………………………………………………………3 2.0 Consequences of Australia’s Fiscal Deficit on the Economy…………………………………4 3.0 Implications of Australia’s Fiscal Deficit for the next 3 years………………………………..4 Abstract The 2009 economic stimulus plan helped Australia climb up the

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  • Economic

    important tool for comparing relative values across a sample of individual stocks. [pic] V is the value of the stock. Dt is the expected dividend payment at the year t. K is the discount rate. Dividend policy has always been a baffling problem of financial management. In theoretical circles there are two schools about dividend policy: relevant dividend view and irrelevant dividend view. Relevant dividend view: Farrar, Salwyn and Gordon are representatives of this theory. Their theory is that company's

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  • Economics

    ascent into China was inevitable. 1.1 HSBC and China This chapter will give you a background into HSBC and China and will take a brief look at HSBCs foreign activity. Who are HSBC? On their website HSBC describe themselves as a ‘ banking and financial services organisation' with around 58 million customers worldwide, Operating in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. According to Forbes HSBC is the third largest bank in the world

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  • Economics

    witnessed in the annals of accounting practice. One of the driving forces is the belief endorsed by some that fair value accounting initiated and aggravated the recent credit crisis. In light of these circumstances, it is considered timely to advance awareness in relation to fair value accounting and to clarify the competing arguments in favour of, and against, the use of fair value rules. As the following pages reveal, it can be reasonably contended that: • At present, the global financial system does

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  • Role of Financial Institutions in the Financial Development and Economic Development

    Role of Financial Institutions in the financial development and economic development Financial intermediaries perform an important role in the development process, particularly through their role in allocating resources to their most productive uses. More efficient financial markets help economic agents hedge, trade, pool risk, raising investment and economic growth. Financial institutions provide consumers and commercial clients with a wide range of services and different types of banking products

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  • Economic Factors

    are estimated on the basis of particular state, and industrial relations climate. The investor will thus have to make economic analysis, technical analysis, market analysis, commercial analysis and financial analysis for undertaking investment decisions. Basic Factors of Economic Decision Making thumbnail Economic decisions are geared to monetary payoffs. Businesses make economic decisions everyday. Entrepreneurs have to make decisions on how to run their business so as to make a profit. They have

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  • Economics

    Final Analytical Application of Current Microeconomic events Introduction The article ‘Financial crisis in the living room’ written by Renan Bourdeau on the 8th of September 2013 featured in the Khaleej Times. It questions the ramifications ascribed to the fact that the populace’s salaries are not increasing in congruence with housing costs. The article cites that the recovery of the residential estate in Dubai has featured in the news for quite some time and the prices of houses have soared, and

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  • Financial Economics

    responses to these assignment problems in a word processing file; put financial data in a spreadsheet file. As you complete the assignment problems for each lesson, add your responses to these files. Do not submit your answers for grading until you have completed all parts of Assignment 1. Note: In assignments, show all calculations to 4 decimal places. Lesson 1: Assignment Problems 1.1 Households make four kinds of economic decisions (textbook, pp. 4–5). Suppose you have two households with

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  • Hoe Economic Activity Would Be Affected If We Did Not Have Financial Markets and Instituions

    Introduction A financial institution is an establishment that conducts financial transactions such as investments, loans and deposits. Almost everyone deals with financial institutions on a regular basis. Everything from depositing money to taking out loans and exchanging currencies must be done through financial institutions. Here is an overview of some of the major categories of financial institutions and their roles in the financial system. Types Of Financial Institutions And Their Roles

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  • Global Economic Slowdown and Its Impact on the Financial Services Industry in India

    Global economic slowdown and its impact on the financial services industry in India April 2009 The global slowdown was an outcome of two events - absence of a sound regulatory framework & mismatch between financial innovation and the ability of the regulators to monitor them immediate aim should be to fix the financial system and to maintain the aggregate demand at a high enough level to stimulate the real sector 2 Contents Executive summary 1. Global financial markets: A perspective

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  • Financial Economics

    CHAPTER 8, 9, 10 PS Solutions PROBLEM SETS: Ch 8: 6. a. The standard deviation of each individual stock is given by: [pic] Since βA = 0.8, βB = 1.2, σ(eA ) = 30%, σ(eB ) = 40%, and σM = 22%, we get: σA = (0.82 × 222 + 302 )1/2 = 34.78% σB = (1.22 × 222 + 402 )1/2 = 47.93% b. The expected rate of return on a portfolio is the weighted average of the expected returns of the individual securities: E(rP ) = wA × E(rA ) + wB ×

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  • Economics

    The pursuit of financial stability* It gives me great pleasure to address this gathering at the 7th Annual Conference on Money and Finance in the Indian economy organised by the Indira Gandhi Institute of Development Research (IGIDR). Issues related to monetary policy and financial sector continue to attract a lot of research interest all over the world and this is all the more true for emerging economies like India which are gradually integrating with the rest of the world. Accordingly, the

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  • Economics

    Implications of Economics and Policy for Health Professionals Katrina Hill Health Policy and Economics Dr. Shana Lavarreda September 7, 2014 Discipline of Health Economics Many years ago healthcare and its delivery system were limited in care for patients or treatment options for physicians. The procedure of care includes diagnosis, treatment, prevention, rehabilitation, and palliative care (Buchbinder, 2012). However, over the years there is much to be learned

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  • Economics

    The Global Financial Crisis and Its Impacts on Developing Countries Student’s Name Professor’s Name Institution Dates Page no. 1.0 Origin of financial crisis………………………………………………………………… 3 2.0 causes of the financial crisis …………………………………………………………. 3-4 3.0 Channels of Transmitting Financial crisis ……………………………………………… 4 3.1 Transmission through financial flows ……………………………………….. 4-6 3.2 transmission through trade ……………………………………………………… 6 4.0 responses to the crisis by developing countries ………………………………………

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  • Economic & Financial Analysis of Nigeria

    Economic and Financial Outlook in 2015 External Shocks Creating New Opportunities FSDH Research January 2015 Economic and Financial Outlook: 2015-2019 1.0 Global Economic Growth: According to the World Economic Outlook (WEO) Update of the International Monetary Fund (IMF), January 2015 Edition, the global economic growth is forecast at 3.5% and 3.7%, for 2015 and 2016 respectively. The forecasts were reviewed downward by 0.3% The IMF forecasts a global economic growth of 3.5% and 3.7%

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  • Economic Geography

    ECONOMIC GEOGRAPHY Y U K O A O YA M A J A M E S T. M U R P H Y SUSAN HANSON KEY CONCEPTS IN key concepts in economic geography The Key Concepts in Human Geography series is intended to provide a set of companion texts for the core fields of the discipline. To date, students and academics have been relatively poorly served with regards to detailed discussions of the key concepts that geographers use to think about and understand the world. Dictionary entries are usually terse and restricted

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  • Economics

    First Name Surname Instructor Course Date Economics 1. The value of the US dollar is currently at very high levels in historical contexts vis-à-vis other currencies. When the value of dollar increases, how is it supposed to affect the US exports and imports? What effect could we have on international trade balances, domestic employment, and GDP? Looking first at the export, on 1 July, one euro traded for $1.37 yet on 13 October, one euro could only get $1.27, which is about 8.5% less. It

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  • Identify Economic Issues in the Jamaican Economy That Created the Need for Financial Regulation

    (2008), “financial regulation is a form of supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system. The regulatory body may be handled by either a government or non-government organization”. The Jamaican financial landscape consists of various financial institutions. These include banks, security brokers, pension schemes and insurance companies. The main objectives of the financial regulator

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  • Modern Portfolio Theory (Mpt) and Financial Economics a Theory of Lesser Turf

    department of economic measurements, GYY Modern Portfolio theory (MPT) and Financial Economics: a theory of lesser turf?♣ “In this age, which believes that there is a short cut to everything, the greatest lesson to be learned is that the most difficult way is, in the long run the easiest.” Henry Miller “[These are colossal] disproportions that have accumulated over the last few years. This primarily concerns disproportions between the scale of financial operations and

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  • Economics

    Social 30­1 Economics Essay June 2011  Zrinna Mallock    This source states that the private properties cause citizens of the state to turn against  each other because the people who have control of the means of production have all the control  and it is also  implied that the people who own the productions have utter control of their health  standards, what they pay the workers, and the cost of their products on the market. The source  also implies that the interests of those who “have” and run some of these means of production 

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  • Financial Economics

    as well as its payout policy which returns relatively small amount of cash back to the investors. Simultaneously we also take the interest conflicts and the competitive scenario with other rivals into consideration. It can be concluded that the financial response of its leverage level and dividend policy is not significant. While the major suggestions given from this paper contend that it should raise more debt when faced with worthwhile investing projects and should increase the dividend ratio for

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  • Financial Economics

    Q1 (i) Histogram for the return on Asset A Asset A –Frequency Distribution Class Intervals-Return |   | Frequency | Cumulative Frequency | Class Width | Frequency Density | Probability | Cumulative Probability | -8% | -7% | 1 | 1 | 0.01 | 100 | 0.0000 | 0.0000 | -7% | -6% | 1 | 2 | 0.01 | 100 | 0.0002 | 0.0002 | -6% | -5% | 7 | 9 | 0.01 | 700 | 0.0002 | 0.0004 | -5% | -4% | 16 | 25 | 0.01 | 1600 | 0.0014 | 0.0018 | -4% | -3% | 42 | 67 | 0.01 | 4200 | 0.0032 | 0.0050 | -3% |

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  • Financial Economics

    1.Introduction This essay is based on the financial crisis from 2007 to 2008, which discuss whether the time at that moment is different. Here, we focus on the financial crisis happened in USA around these two particular years, therefore we mainly talk about ‘U.S Sub-prime Crisis’. Section I is to summarize the ideas that Reinhart and Rogoff provide according the book ‘This Time is Different: Eight Centuries of Financial Folly’ (2011) and their working papers. Section II is to evaluate and

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  • Economics

    Summary The article studies the relationship between investments and the returns on equity markets, along with the economic growth. It strives to demonstrate the fact the equity market performance is dependent upon the earnings growth of the companies and the earnings growth is somewhat capped by the real GDP growth of the economy as a whole. In other words, the equity markets are not to be conceived as a medium which could generate supernormal returns; instead, the return could be capped at about

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  • Economics

    Africans, Creoles, Chinese, and Europeans. At independence in 1968, the country was poor, with a per capita income of around US$260. However, the government has successfully diversified the economy into textiles, tourism, and financial services. In recent years, new economic poles like information and communication technology (ICT), knowledge, healthcare, business-process outsourcing, seafood and high-tech manufacturing are emerging. The national objective is to graduate Mauritius to the league of

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  • Economics

    analyzing 3 different business/economic cycles – a total of 6 economic aggregates – which will include a recession period and an expansion period. I will choose the current economic cycle as the basis to compare the performance of the economy since December 2007 to that of the other 2 business cycles on the basis of the 6 Economic Variables. As a data consistency analysis measure, I will make use of data from Federal Reserve Economic Data (FRED) and National Bureau of Economic Research (NBER) websites

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  • Impact of the Global Economic and Financial Crisis over the Automotive Industry in Developing Countries

    R e se a rc h a n d Stat i s t i c s B r a n c h working paper 16/2009 Impact of the Global Economic and Financial Crisis over the Automotive Industry in Developing Countries UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION RESEARCH AND STATISTICS BRANCH WORKING PAPER 16/2009 Impact of the Global Economic and Financial Crisis over the Automotive Industry in Developing Countries Peter Wad Copenhagen Business School UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION Vienna, 2010

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  • Economics

    Intro to Economic Thought (ECO 105) Robert Ellmann Financial Crises Irina Sterpu __________________________________________________________________________________ OUTLINE           Introduction into the topic and its origins The Great Depression 1929-1939 German Hyperinflation 1918-1923 The Great Recession 2008 1973 Oil Crisis European Sovereign Debt Crisis 2009, onward Ruble Crisis 1998 Black Monday 1987 Conclusion References Financial crises – definitions

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  • Economic Financial Forecasting

    real import of goods and services (RIMPGS) and disposable personal income (DPI) variables. View their descriptive statistics. Analyze skewness, kurtosis and volatility (measured by the coefficient of variation) of each of them. Discuss possible economic factors underlying the data asymmetry, kurtosis and relative volatility. In this example, all three variables are left skewed, while kurtosis is between 1.99 and 2.29 for each of the three variables. I measured volatility based on the standard

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  • Economics

    Name Professor Course Date Economics The Federal Reserve Bank has been mandated by the Congress to execute monetary policies on behalf of the government in a meticulous manner such that the system remains liquid at all times. The FEDS has two specific mandates assigned by the Congress; one, to ensure that there is the sustainability of employment opportunities and output and two, to stabilize prices of commodities (or stabilize the rate of inflation), (Engen, Laubach and Reifschneider 2-3). To ensure

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  • Economics

    putting an end to a monetary system in place through a slew of financial crises, including the latest one in 2008. According to a study by four central bankers, the country has had “over 20 instances of financial crises of different types” since 1875, with “six serious multiple financial crisis episodes occurring every 15 years on average”. Mr Sigurjonsson said the problem each time arose from ballooning credit during a strong economic cycle. He argued the central bank was unable to contain the credit

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  • Economic

    Economics’ Approach to Financial Planning by Laurence J. Kotlikoff, Ph.D.  |Executive Summary | |Economists long have shown that when it comes to consuming lifetime economic resources, households seek to neither splurge nor hoard, but | |rather to achieve a smooth living standard over time. Consumption smoothing not only underlies the economics approach to spending and

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  • Financial Development and Economic Growth in Malaysia

    seperti itu. Usaha-usaha yang diperbuat oleh pihak ketiga untuk memperolehi maklumat tambahan sering mahal. Oleh itu, tanpa pemindahan maklumat baik, pasaran kredit akan menjalankan dengan teruk . Pasaran kewangan yang berfungsi (Well-functioning financial markets) dan perantara-perantara memastikan dana diperuntukkan dengan cekap. Melalui ekonomi bidangan dan ekonomi skop, pasaran kewangan dan pengantara kewangan mampu memperbaiki masalah kos maklumat yang tidak seimbang dan urusniaga yang tinggi

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  • Economics

    documentary Commanding the Heights: the Battle of Ideas made by PBS, then conducts the analysis on the two competing economic ideas of Keyes vs. Hayek, and finally presents a detailed illustration of their impacts on the America’s economic policies since 1980. Introduction The PBS-made documentary ‘Commanding the Heights’ is to promote better understanding of globalization, economic development and world trade, featured with specific examples of different countries and interviews with related parties

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  • Financial Development and Economic Growth

    Executive summery This literature review discusses objectives of financial development and economic growth as well as existing relationship of this concept. Financial development is strongly connected with economic situation, but we do not know for sure if this always implies economic growth. There are many factors which influence relationship between financial development and economic growth and its effects such as financial liberalization, government ownership of the banks, monetary policy and

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  • Financial Development and Economic Growth

    1.2. Theoretical review of financial development and economic growth nexus 1 1.3 Review of the empirical literature 4 1.3.1 Time series 5 1.3.2 Cross-country studies 6 1.3.3 Panel data studies 7 3 Conclusions 8 4 References 9 1 Introduction “Finance is powerful. The financial system can be an engine of economic prosperity – or a destructive cause of economic decline and misery.” Levine, R. (2011) p.85 Obviously, financial system and economy are related

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  • Economic

    produced within a given country. From that perspective trade imbalances can be huge. This necessitated the tariff approach as a "checks and means" approach when a country enjoys the benefits of exportation but does not reciprocate and import. The economic balance and climate in between is a "work-in-progress", whose effects are such that many countries and entities will push the envelope for the bottom line for any person, company and country seemingly without regard for the rules they agreed to abide

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  • Financial Economic Research and Industry Analysis


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  • Annals of Financial Economics

    Annals of Financial Economics The Causal Relationship Between Bank Capital and Profitability David E. Hutchison and Raymond A. K. Cox 1 Westwood Development Group and University of Ontario Institute of Technology Abstract: The relationship between capital structure and return on equity is examined. It is shown that for banks in the U.S., for the relatively less regulated 1983 to 1989 period as well as the more highly regulated 1996 to 2002 period, there is a positive relationship between

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  • Economics

    1980s which went through rapid economic growth, averaging growth rates of approximately 10 percent from 1985 to 1996. The graph shows clearly that non-agricukture sector and GDP are having the same growth trend. However, growth is declining when the country suffered heavily in the 1997 currency crisis.  The country's economy regained to its positive growth rates after 4 years, in 2001. In 2001, when businessman Thaksin Shinawatra took office, he introduced a set of economic policies, widely known as

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  • Economics

    Title: Economics Name: Professor’s name: Course title: Date: Economics Suggest how an economist would approach the problem of alcohol abuse. Provide two (2) possible solutions to this problem. Include the four (4) elements of the economic way of thinking in your analysis. It is a genuine case of negative externalities both in production and consumption. Alcohol production also causes pollution of the environment especially due to the large CO2 emissions produced

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