Nicaragua And Its Monetary Policy Analysis Essay - 1348 Words

Nicaragua and its Monetary Policy analysis: Monetary policy is the macroeconomic policy laid down by the central bank. It involves management of money supply and interest rate and is the demand side economic policy used by the government of a country to achieve macroeconomic objectives like inflation, consumption, growth and liquidity. The Monetary Policy of a country further contains 3 sub-policies: †¢ The Money Supply Policy: This policy determines the source of credit. In most cases, a central bank of a country acts the source. †¢ The Interest Rate Policy: This policy determines the cost of credit. †¢ The Credit Control Policy: This policy determines the quantum of credit. Monetary Policy works on the fundaments of a money market and LM curve is the locus of equilibrium between the interest rate and income in the money market. LM curve determines the supply side of money and is positively sloped w.r.t to interest rate and income. Like many Latin American countries, Nicaragua is a socialist country and hence, functions with a deficit budget. Deficit, if remained uncontrolled, has the potential to induce inflation in an economy. As in August, 2015, the inflation rate recorded in its economy was 2.70%. However, with its average inflation rate being 9.35% in the period of 1993-2015, it had achieved a highest rate of inflation in September 1993 at 23.99%. (Banco Central de Nicaragua estimated) The central bank of Nicaragua focuses on an objective of sustaining economicShow MoreRelatedThe Reagan Doctrine Of President Reagan1228 Words   |  5 Pagesâ€Å"doctrine† definition is â€Å"A statement of authorized government policy, especially in overseas concerns and military strategy† (â€Å"Doctrine†, n.d.). The expression Presidential doctrine means an ideological platform that a president uses to spread a policy towards a country or region in order to accomplish foreign policy objectives for the United States. 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Defining Culture And Self Reflection Paper Essay - 2216 Words

DEFINING CULTURE AND SELF REFLECTION PAPER Sharmaine Pasalo University of Hawai’i at Manoa DEFINING CULTURE AND SELF REFLECTION PAPER An analysis of health management and how my culture intersects health management was done through the completion of addressing a health topic, creating a best practice action plan to address the health topic, creating a concept map, interviewing someone of a different culture as it relates to the health topic and reflecting on my culture and my health management style. Through this process, I was able to determine how my culture affects my health decisions, beliefs, and overall management of health. Health Management Health can be described as â€Å"complete physical, mental and social well-being and not merely the absence of disease or infirmity† (World Health Organization). Health management is the maintenance of the individual’s health on a small scale, and the community and population as a whole on a larger scale. Health management is based on the individual’s participation in health practices that include seeking medical health care, lifestyle choices, an overall belief in one’s health status and on the availability of health care resources. Health Topic The health topic to be addressed is exercise. According to the Centers of Disease Control Prevention, the recommendations for adults as it relates to weekly exercise and physical activity include, at least 2 days of muscle strengthening, along with 150 minutes of moderate intensityShow MoreRelatedA Personal Philosophy Of Education Essay1164 Words   |  5 Pagesafter the act of doing it (Sweitzer, 2003 p.264). I believe self-knowledge of the professor is critical for meaningful learning to occur. Self-knowledge through reflection allows the professor to embrace teaching through the eyes of a scholar; thus providing a diverse learning environment supporting engagement and motivation of the learner. 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How to ‘save’ Ghana from Petrodollars Free Essays

Introduction Resources haven’t always been linked to wealth, as the management of resources in a country is always subjected to politicking. Ghana’s resources have been recently discovered, thus space for maneuver regarding how to make the best out of the natural supplies is given to the government. What is known so far is that â€Å"oil discoveries in many countries have led to the erosion of democratic processes and insitutional structures† (Van Gyampo, 2011: 49). We will write a custom essay sample on How to ‘save’ Ghana from Petrodollars? or any similar topic only for you Order Now In other words, wealth generation does not equal resource abundance, and, by any means, an increase in the standard of living of the entire population. Moreover, the Ghanian exampe is illustrative on account of the government increasing its opacity. This can result in higher level of corruption and social unrest, as an inequality in the wealth distribution can generate social pressure. Countries with abundant resources and weak political systems are prone to having an authoritarian government or to face social disruption. The pre-oil Ghana was â€Å"praised for its steady progress toward democratic consolidation† (Gyimah-Boadi Prempeh, 2012: 94), with five elections being held under democratic principles, and autonomy being guaranteed to key institutions such as universities, mass-media, etc. Economically speaking, Ghana has an estimated influx of Petrodollars of about USD 1 billion (Kapela, 2009) per year, which constitues a great potential for development. This should be the focus of further research on the impact of oil discovery on Ghana, as development plans have the potential of generating economic wealth in a sustainable manner. The main question is ‘how to generate wealth from resource abundance, and how to invest Petrodollars in something sustainable for Ghana?’ Research proposal The paper should focus on oil industry as a generator of wealth in Ghana, and try to tackle ways in which this could be made possible. Classically, transforming oil money in wealth is done through infrastructure development. What is more, the type of infrastructure that has to be developed differs from country to country. Nonetheless, even if infrastructure of any type is built, this doesn’t automatically create sustainability (Wood, 2007). This is caused by the contextuality determined by political and social factors. Of particular importance is to note that Ghana’s democracy is fundamentally different than other African counterparts dependent on oil exportation, with a political system that has developed into a relatively stable one. This creates a fertile ground for sustainability projects. First, the disseration should focus on researching and outlining the modes in which the Ghanian government can use the influx of Petrodollars to enhance development, despite other bad examples in the region. Here are some areas of development that can attract funding from oil industry. a) start-ups: Economic growth is striclty related to entrepreneurship. Can Ghanian government find a way to foster a capitalistic climate that can potentially generate wealth b) infrastructure development: When we talk about infrastructure, we think about motorways construction, airport connectivity, etc. In fact, developing countries struggle to finalize those projects and often find that the expected positive externalities are overwhelmed by the negative ones. Roads can prove to be good connectors between two cities, but don’t generate wealth per se. A type of infrastructure with positive outcomes is IT infrastructure. c) education: Sustainability is about creating a long-lasting positive effect over the next generations. Education is an important node of the wealth-creation network. The main concern is whether Ghana has the political will to use oil money for projects that can create wealth organically. Therefore, the thesis should approach the topic of Petrodollars and how Ghana can be the first positive example of good resource management in Africa. This would relate oil industry to the broader picture of wealth creation and development. How to tackle the research topic? The methodological apparatus that should be employed here is diverse, however discretion is advisable. First of all, an extensive literature review on Ghana’s oil industry should be done in order to understand the underpinnings of the ‘newly created economy’. Second, the literature review should seek to understand the political system and how this was altered by the resource profusion. A comparative approach should be used here, especially a comparison between Ghana and Nigeria regarding institutional redesign in the light of resource abundance. Second, there are more ways in which the study can be developed. a) an empirical analysis of economic indicators that measure wealth and economic growth post and ante the oil discovery. This can take the form of an econometrical analysis that should test the correlation between Petrodollars cahsflows and development. The most accessible option is to run a multiple regression having as the dependent variables the economic growth, standard of living, and income inequality, and independent variables, revenues from oil indsutry, tax revenues, etc. Two patterns can arise. First, a positive correlation between the formers and the latters, thus the Ghanian government can be rendered as a good example of ‘oil revenues manager’. Second, a negative correlation can be found, confiriming the theory of fragiles democracy falling apart because of resource abundance. In any case, the assumptions made should be supported by a rigorous theoretical framework. b) a fieldwork approach using structured interviews with local entrepreneurs that have benefited from or were disadvatanged by the emergence of the oil industry. If this approach is taken, a good guide can be provided by Hart (2007). This method can provide rich data about the micro implications of oil industry in Ghana and can allow for ground-up theoretical development. Conclusions and recommendations The discovery of the oil field in Ghana is still recent, thus not a lot of academic writing has focused on it. There are still many areas left unexplored, some of them presented above. The recommendation is to focus on oil industry as an agent of change that has the power, in the right hands, to drive economic growth and wealth creation. Also, Ghana is a particular example in Africa, therefore careful attention should be given to details such as political stability and institutional systems. The author should rely, if possible, on local access to information, and use the local language to bring to light some new information that otherwise would be impossible to discover. The recommended design of the research is a grounded theory approach, where the author will attempt to use a mix of secondary data analysis (e.g. Official documents, public discourses of government regarding oil industry, etc.) and structured interviews with local entrepreneurs. References Van Gyampo, R.E. (2011), Saving Ghana from Its Oil: A critical Assessment of Preparations so Far Made, Africa Today, vol. 57, no. 4, pp. 48-69; Gyimah-Boadi, E., Kwasi Prempeh, H. (2012), Oil, Politics, and Ghana’s Democracy, Journal of Democracy, bol. 23, no. 3, pp. 94-108; Hart, K. (2007), Small-scale entrepreneurs in Ghana and development planning, The Journal of Development Studies, vol. 6, no. 4 Kapela, J.M. (2009), Ghana’s new oil: cause for jubilation of prelude to the resource curse, Master’s project, Duke University Wood, T. (2007), The Natural Wealth of Nations: Transformation of Oil- and Gas-Producing Economies, Cisco White Paper, 2007 How to cite How to ‘save’ Ghana from Petrodollars?, Essay examples

THE PRINCESS OF ELIS Essay Example For Students

THE PRINCESS OF ELIS Essay A monologue from the play by Moliere NOTE: This monologue is reprinted from The Dramatic Works of Moliere, Vol. II. Ed. Charles Heron Wall. London: George Bell Sons, 1898. EURYALUS: Alas! my dear Arbates, if for a while I defied the power of Love, he takes now full vengeance! If you but knew what sufferings are torturing my heart, even you would wish that I had never loved. For see where my destiny leads me! She whom I so ardently love is the Princess of Elis. You know what pride is hidden under her divine charms: how it makes her resist all feelings of love; how she shuns, during these days of brilliant rejoicings, the society of that crowd of admirers attracted here with the hope of winning her. Ah! how untrue it is that the one we are destined to love, charms us at first sightthat the first glance kindles in our breast that passion to which we are destined from our birth! On my return from Argos I passed through this place and then saw the Princess. I looked upon her and all her charms as one contemplates a fine statue. I quietly beheld her dazzling youth, but the sight brought no trouble to my heart. I returned to the shores of Ithaca in perfect pe ace of mind, and lost even for two years all remembrance of her. Then, rumours of the scorn with which she treated every offer of homage reached my court. It was said that her proud soul had a most unconquerable aversion to the bonds of marriage; and that with a bow in her hand, a quiver on her shoulder, a second Diana, she frequented the woods, cared for nought but the chase, and let all the youth of Greece sigh for her in vain. We cannot wonder too much, Arbates, at the freaks of passion in our heart, nor at the strange workings of fate! The fame of her haughty coldness gave rise in my soul to unknown feelings which I could not master, and which her presence and beauty had failed to call forth. Her well-known contempt for love had the secret power of bringing back all her features to my remembrance, and of making me look back at her charms with new eyes. I formed in my mind such a noble and beautiful image of her, I pictured to myself so much pride and such pleasure if I could but triumph over her coldness, that my heart, dazzled by the splendour of such a conquest, saw the glory of its liberty vanish away. In vain I tried to resist the attraction; its charm took such hold upon my senses that, urged on by an irresistible power, I sailed in all haste from Ithaca. Here, however, I conceal my ardent passion under the desire of appearing at these renowned sports, to which the illustrious Iphitas, father of the Princess, has invited most of the princes of Greece. What would it serve me to declare my love, Arbates? Should I not draw on myself her haughty disdain, and rank myself among those submissive princes whom she considers her enemies from the moment they have declared themselves her lovers? The sovereigns of Messenia and Pylos pay useless homage to her, and the fame of their great virtues is in vain seconded by faithful deference. This repulse of their love makes me conceal in silence all the violence of mine. When I consider the fate of these famous rivals, I feel myself already condemned, and in her contempt for them I read my own sentence.