Literature Review On Determinants Of Economic Growth Economics Essay

Literature Review On Determinants Of Economic Growth Economics Essay There are numerous of empirical research on economic growth has been done in the past decades. The empirical study of determinant of economic growth by Barro (1991) has been an important reference to future study on the related fields. In this section, a brief review of factors that determine economic growth will be presented. The influences consider here included government spending, inflation, FDI and trade, financial development, and European integration. The size of the government expenditure and its affect on economic growth has been getting much attention in the past study. Ghali (1997) explored his research on the relationship between government expenditure and economic growth by looking at the interaction among the growth rate in per capita GDP and the share of government spending in GDP over the period of 1960-1996. He used vector autoregressive analysis and Granger-causality in his study and found that there is no consistent evidence that government spending can increase Saudi Arabias per capita output growth. This result was contrasted with the two study by Cheng and Tin (1997), Loizides and Vamvoukas (2005). Both study suggested that government expenditure Granger-cause economic growth. Cheng and Tin (1997) emphasize on the granger causality between government expenditure, money supply and economic growth in South Korea for the period of 1954-1994. They applying the same technique as Ghali (1997) and claimed that money supply affect growth as well but money supply doesnt Granger-cause government expenditure. However, the study by Loizides and Vamvoukas (2005) focused on the causal link between the size of the public sector and real per capita income within the bivariate and trivariate frameworks on their sample countries of United Kingdom, Ireland and Greece. They have draw out three conclusions, first, public expenditure Granger causes growth in the short run and long run in all of the sample countries. Second, both bivariate and trivariare framework shows that increase in output would cause growth in public expenditure in Greece. Third, their trivariate model has indicates that causality from national income to public spending in Greece and British. Therefore, the different result from these study lead to a conclusion that in certain circumstances, changes of government expenditure do not necessary cause changes in the economic growth when government spending deliver services in an inefficiency way. Inflation was another controversial debate issues. Malik and Chowdhury (2001) observed the relationship between inflation and GDP growth for four South Asian countries which is Bangladesh, India, Pakistan and Sri Lanka. They employed the co-integration and error correction models to the annual data retrieved from the IMF International Financial Statistics. They established two results : (i) inflation and economic growth are positively and statistically significantly related for all four countries. (ii) the sensitivity of growth to changes in inflation rates is smaller than that of inflation to changes in growth rates. These results have crucial policy implication, that is, although moderate inflation foster economic growth feeds back into inflation by stimulating the economy. Another study by Faria and Carneiro (2001) claimed a divergent view from Malik and Chowdhurry (2001). They have measure the relationship between inflation and economic growth in the context of Brazil which has been undergone severe inflation until recently. This study has constructed a bivariate time series model (vector autoregression) with annual data for the period between 1980 and 1995, they argued that although there is a negative relationship between inflation and economic growth in the short run, but in the long run, economic growth does not affected by inflation. Thus, this result supported the theories of hyperinflation usually associated with economic depress and political and social upheavals and as a result, it is against the perspective that inflations affects economic growth in the long run. In addition to that, foreign direct investment (FDI) and trade were another influence that determined economic growth. Makki and Somwaru (2004) have analyze the role of FDI and trade in promoting economic performance across 66 developing countries, and the interaction among FDI, trade and economic growth by adopting unrelated regression (SUR) method and instrumental variable (3-stage least squares) approach over the period of 1971-2001. They brought to four interesting results. First, the variables of FDI and trade have a strong positive relationship. Second, FDI stimulates domestic investment. Third, macroeconomic policies and institutional stability is the precondition for FDI-driven growth. Fourth, economic growth would facilitated by a lowering inflation rate, tax burden, and government consumption. Similarly, the study of Yao (2006) investigate the effect of export and FDI on economic performance by using Pedrons panel unit root test, and Arellano and Bonds dynamic panel data estimating technique on the sample data of 28 Chinese provinces. This study has stressed on two essential strategies that adopted by Chinese government to explained why China can be success in the long period. One was the export-push strategy that replaced the self-reliance and import substitution strategy and the other was the adoption of foreign technology and international business practices through the uses of FDI. Their data also indicated that openness can boost economic growth if the unforeseen risk can be managed in the proper way. Financial development was the fourth factor. Liang (2006) inquired the impacts of financial development on the pattern of regional economic growth in China. The GMM approach has been employed in his research throughout the period of 1990 to 2001. He mentioned that financial development significant contributes to the economic growth in coastal region but not in the inland regions. Even though the structure and the size of financial sector in China are the same, financial function provided by the financial sector might vary across region. Meanwhile, Ang and McKibbin (2007) included financial liberalization in his observation. This research evaluated whether financial development leads to economic growth or vice versa in the economy of Malaysia. Their analysis was consistent with Liang (2006), which is financial development leads to economic growth. Variety of approaches being used in this study and the empirical evidence asserts that financial sector development in Malaysia can be stimulated through financial liberalization when the repressionist policies have been removed. Moreover, financial depth and economic development tends to have a positive relationship. They also view that economic growth would generate higher financial depth in the long run. Growth effects of European integration will be the last factors we discuss here. Henrekson et.al (1997), estimated the effects of European integration in EC and EFTA on economic growth. Their analysis has been conducted across a large sample of both developed and developing countries. They comprised a dummy for membership in EC or EFTA during 1976 -1985. They addressed that there is a significant and positive effects on economic growth but the effects became smaller and significant when the sample was restricted to 22 developed and OECD countries. The effects do not change for membership in EFTA as in the EC due to the technology transfer instead of investment. All the empirical study by these researchers provided a useful guidance for both domestic policy makers and the development partners. Nevertheless, more prospects might be explored on the determinant of economic growth, especially corruption. As in Malaysia, it is a significant variable that should be tested on.

Management Style Essay

Management style is the method of leadership that an administrator usually employs when running a business. Depending on business situation, a manager might need to employ more than one management style in a more or less formal way to accomplish the highest degree of effectiveness In their role. A range of management styles exist, such as active leadership, democratic leadership, directive leadership, paternalistic leadership, participatory leadership, servant leadership, and task-oriented leadership. Active leaders tend to lead by example and set a high standard for themselves and their employees. They wouldn’t ask an employee to take on a task they would be reluctant to do themselves. Democratic leaders seek to take all stakeholders’ opinion into account and achieve consensus before reaching a final decision. Although directive leaders are less authoritative than autocratic managers, they do not typically seek employees input. They often cite a short timeframe, and unpredictable client or an emergency situation as the reason for acting unilaterally. Participatory leaders are based on a coaching philosophy and focuses on empowering employees to seek their own knowledge and make their own decisions. It can be very effective in fluid work environments with shifting priorities. Servant leaders are based on a â€Å"people-come-first† philosophy. This style is about finding the most talented people to fun your organization and then empowering them to do what they do best. Paternalistic leaders are also similar to autocratic managers, except more sensitive to employees’ perspective. Managers who embrace this style are concerned with employees’ feeling and wellbeing. Task-oriented leaders may have once been project managers. They are experts in planning projects, allocating resources, assigning roles, setting benchmarks and keeping to strict deadlines. Management is about getting things done. Leadership is about achieving goals by creating a direction for a business and inspiring employees to take initiative and make the right decision.

Spleen In North India Health And Social Care Essay

Spleen is a reticulo-endothelial and lymphoid organ and sometimes works as hematopoietic organ. Otherwise this organ is cemetery of RBCs. Spleen is enlarged in assorted clinical upsets e.g. infection, metamorphosis or storage upset and haematological abnormalities1,2. Spleen is ne'er tangible boulder clay it is enlarged two-three times of its ain size3. There are many manners of probe to place the hypertrophied spleen e.g.-plane radiogram, echography, computed imaging, MRI and radionuclide scan. Out of these modes echography and computed imaging are most dependable for intra-abdominal organs4. Assorted surveies were done by echography to analyze the additive dimension of spleen-length, breadth, and thickness. But CT-based additive dimension are still unavailable. Unfortunately, dimensions determined by 2-D USG are limited preponderantly by the variable, irragular contour of lien but besides by the trouble in wholly scanning the full organ or visualising complete contours as a consequ ence of the presence of overlying constructions such as bone, intestine gas or kidney5. CT imagination is more accurate than echography because this drawback doesnot occur with computed tomography6, 7, 8. CT scans of 126 patients ( 72 male and 54 female ) were used to mensurate the volume of lien. The age of patients ranged from 20 to 70 years ( 50.33Â ±18.9yrs ) ( Table-I ) . The information was collected from December 2006 to April 2007 with permission of Department of Radio-diagnosis, KGMU Lucknow and informed consent taken from each patient. CT scans were obtained for assorted clinical indicants and followup of abdominal injury, abdominal hurting and to except an abdominal mass or adenopathy. The patient ‘s organic structure weight and tallness at or near the clip of the CT scrutiny were recorded. Spleen axial and transverse sectional image were obtained a CT Helical instrument. The proficient parametric quantities were 120 kv potency, 120 ma current, 10mm piece breadth with indistinguishable Reconstruction index and a rotary motion clip of 1.5 secs. The medical records of all patients were reviewed. Patients whose liens appeared unnatural on CT scans were excluded. Additio nally, any patients who had clinical, biochemical or imaging grounds of conditions that could impact the size of the lien, haematological upsets, abdominal malignances, infection and portal high blood pressure, splenetic injury, cyst, and auto-immune diseases were excluded from the survey. CT-scan dicom images of each patient were opened in Able-3D-doctor package. Spleen is identified in each cross subdivision and longitudinal subdivision of CT-scan images. The length of lien recorded in longitudinal subdivision along 10th rib in cephalo-caudal way ( figure-1 ) . Width of lien besides recorded in longitudinal way ( figure-2 ) but thickness measured in cross-section image ( figure 3 ) . All dimensions were recorded maximal appreciated in subdivisions for better truth. All statistics were generated by SPSS version 10.The pupil T-test was used for comparing of agencies. P & A ; lt ; 0.05 was considered important for comparing of agencies and for arrested development analysis. Association between splenetic dimensions and physical criterions of patients was assessed with the Pearson correlativity coefficient ; to place the exact form of relationship, non-linear arrested development every bit good as additive arrested development was applied. Multiple arrested development analysis was applied in backward stepwise manner to prove the independent consequence of all physical criterions on splenetic parametric quantities. Frank et Al used conventional echography to measure 793 healthy patients ( 17-82yrs. ) and found that 95 % of patients had splenetic length & A ; lt ; 11cm, breadth & A ; lt ; 7cm and thickness & A ; lt ; 5cm9. Niederau et al studied 915 healthy topics utilizing echography and found that average longitudinal and cross diameter of lien to be 5.8Â ±1.8 centimeter and 5.5Â ±1.4 centimeter severally. These dimensions were much smaller than other surveies because writer did non mensurate maximal dimension10. Picardi et Al. found average longitudinal dimension of spleen ranged from 8 to 11 centimeter ( average: 9.5 centimeter ) 11. Mittal et Al. performed pilot survey of normal measuring of spleen by echography on Rajasthani population and found mean length of spleen 9.40Â ±0.91 centimeter in males and 9.34Â ±0.95 centimeter in females12. In older topics they found average length of spleen 9.64Â ±0.64 centimeter. Spielmann et Al, mean length of lien was found to be 11.4Â ±1.7 centime ter in males and 10.3Â ±1.3 centimeter in females13. Konus et Al. found average longitudinal dimension: 10.1Â ±1.03 cm13. In our survey intend splenetic length in North Indian population was 10.67Â ±1.62 centimeter ( female: 10.34Â ±1.58 and male 10.91Â ±1.67 centimeter, P & A ; gt ; 0.05 ) 14. Mittal et Al. measured mean breadth of lien in male every bit good as female 3.45Â ±0.59 centimeter and 3.59Â ±0.55 centimeter. Average breadth of lien measured by Spielmann was 5.0Â ±0.8 in males and 4.2Â ±0.7 centimeter in females. In our survey average breadth of spleen 8.61Â ±1.58 centimeter ( male: 9.74Â ±1.62 centimeter and female 9.26Â ±1.66 centimeter, P & A ; gt ; 0.05 ) and average thickness of spleen 4.86Â ±1.22cm ( female: 4.70Â ±1.19 centimeter and male: 4.97Â ±1.29 centimeter, P & A ; gt ; 0.05 ) .These all dimension of spleen best correlated with tallness of the patients ( scatter plot-1.1, 1.2, 1.3 ) . Age of individual had important negative correlativity with cephalo-caudal length of spleen but rest of splenetic dimension did non hold important correlativity with age ( scatter plot-1.4, 1.5, 1.6 ) .

The Biological And Psychological Trait Theory - 851 Words

The Biological and Psychological Trait Theories are theories that are used to try and explain deviance. Biological Trait Theory stems from the Italian School of Criminology (mid-nineteenth century), head by criminologist Cesare Lombroso. Lombroso argued that criminality was a biological trait found in humans. Lombroso’s idea of atavism connected an individual’s appearance and their biological inclination to criminal activity. The Psychological Trait Theory focused on the mental aspects of explaining criminal activity by evaluating their intelligence, personality, and learning behavior. There are three subunits of the Psychological Trait Theory, which are the psychodynamic theory, behavioral theory, and cognitive theory. Sigmund Freud developed the psychodynamic theory with his research of the conscious, preconscious, and unconscious functions of the mind. The behavioral theory is about developing human actions through learning experiences. It explains that crime is learned from life situations. People aren’t born with violent tendencies, rather it’s learned from life experiences. Three sources of this behavior are family, the media, and the environment. Cognitive theory focuses on how people perceive and mentally represent the world around them and solve problems. In the case of Jared Loughner, the psychological trait theory is the most applicable. With his diagnosis of being a paranoid schizophrenic, that connects him to both the psychodynamic perspective andShow MoreRelatedTaking a Look at Biological Criminology1240 Words   |  5 PagesBiological criminology began many years ago along with the scientist Cesare Lombroso. He believed that criminals are born, not made. A â€Å"born criminal†, is a â€Å"defective individual†, whom has natural or instinctive tendencies towards low types of social life. 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