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Picking Cotton free essay sample

At the point when an awful mishap occurs, a huge number of individuals are influenced. In Picking Cotton: Our Memoir of Injustice and Redemption composed by Jennifer Thompson-Cannino and Ronald Cotton, the narrative of Thompson’s assault and Cotton’s conviction is unwound through the point of view of the two creators. The feelings that both Thompson and Cotton suffer in the consequence of the assault are appeared with the shift of speaker. With the adjustment in speaker in each piece of the book, the read gets the opportunity to see the most critical piece of the person’s life. The journal starts with Thompson’s assault, in the viewpoint of her. Telling the frightfulness of Thompsons experience qualities the reader’s compassion towards her as sentiment overwhelms the principal area of the novel. Being inside Thompson’s brain and knowing her quality all through the wrongdoing goes about as a portrayal technique for Thompson. Since the novel is genuine, the regular portrayal strategies utilized in different books are impractical. We will compose a custom article test on Picking Cotton or on the other hand any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Knowing how Thompson thinks and feels makes qualities for her which later makes her conviction of Cotton justifiable. The progress to Cotton during his time in jail illuminates the peruser on Cotton’s life and furthermore his blamelessness. An inside look of what a twofold life sentence can take from a genuine man is appeared as Cotton uncovers his hardships during his journal. Again feeling was utilized, demonstrating the battles and encounter Cotton faces during his detainment. The topic of pardoning results after Cotton’s viewpoint and considerations are communicated and he decides to excuse Thompson for her misstep. Having numerous speakers in the novel additionally has its impediments. By changing points of view from Thompson to Cotton, the peruser is dismissed the others considerations during a specific time. While Cotton recounts his jail time, the read doesn't have the foggiest idea how Thompson is the novel during this time. At the point when the novel changes speakers back to Thompson she is hitched with kids. There is a missing hole of time the peruser never thinks about. The peruser likewise passes up Cottons get-together with his locale and companions. During times when both Cotton and Thompson are together, only one person’s musings are appeared, blinding the peruser to how the other individual feels and what they are thinking. The authors’ decision to share both of their accounts in a single novel had the two points of interest and disservices. While the distinctive purpose of perspectives indicated how both Jennifer Thompson and Ronald Cotton were casualties because of the wrongdoing submitted by Booby Poole, the peruser didn't generally get the full story of the two speakers. By and large, the structure of the novel was solid and had an earth shattering effect on the peruser and achieved its objective of carrying attention to improper detainment and furthermore to absolution.

What to Look For in a Medical School Admissions Essay Sample

What to Look For in a Medical School Admissions Essay SampleThese essays are called the Med School Admissions Essay as they are used for admission to medical school. Most of these Essay samples contain some learning tips and personal information such as your name, current job, current academic status, parents, career interests, etc. The essay samples may be taken from college booklets, books or websites that offer such essay samples.Medical school applications are quite rigorous. If you want to get into the medical school, you should try to make the essay samples as interesting as possible. It is a good idea to find essays that are easy to understand but sometimes even this is not enough as many students feel they need to excel in every aspect of their application to ensure they are admitted.With this in mind it is a good idea to use these essay samples. With so many essays on offer that can be downloaded from the internet, why not try to do something unique and original? This is jus t what the essays are for after all!These admissions essays are basically about your life story and your reasons for wanting to attend medical school. It can be anything from a case study of how you overcame an illness or an injury to a more general one about a change in your attitude towards life. What you write in your Essay will really set you apart from others who are applying for medical school and it will also help to set yourself apart from all of the other applicants.The selection committee at medical school is very selective and will be looking for something that will set you apart from the others. In addition to your personal statement and essays you should also make sure that you have researched the schools thoroughly so that you have an idea of the curriculum that is required and what the rules and regulations are for entry into that particular program.You will be submitting your medical school application along with your personal statement and essays. Make sure that all the essay samples you have chosen are appropriate for medical school as not all colleges will accept the same format.The most important part of your essay will be the main points that you have selected to be discussed in your essay. They will be used to determine your likelihood of being accepted to the school and so should be brief and to the point. It will then be up to you to do all the other research that will allow you to answer the questions and also to be sure that you have included all the necessary data in your essay.Remember that the content of your medical school admissions essay is very important. You want it to be very concise, appealing to the judges, but at the same time be informative and provide an insight into your personality and why you feel you should be accepted into the medical program.

The Biggest Loser Are They Really - 1586 Words

Fae Rose Kobernik Mrs. Phillip English 3 H 6 January 2014 (but actually 17 December 2014) The Biggest Loser: Are They Really? In a world where â€Å"graphic t-shirts with the words â€Å"eat less† [are sold]† (Mulliniks) in popular stores marketed for teenagers, where â€Å"children as young as 5 years old have been treated in hospitals for anorexia† (Touhy), and where studies have found â€Å"that the fashion industry is a significant influence on a woman s identity† (Monitor s Editorial Board). It is clear that we live in a society that corresponds it’s definition of beauty to the definitions of weight, body type, and body image. This problem of beauty and body is magnified through the medias excessive use of altered images that depict a false sense of†¦show more content†¦In some cases this is from genetic or unknown reasons but in many cases it has to do with the pressure our society and specifically our media puts on woman. Therefore women who aren t as exposed to mainstream media are less likely to develop an eating disord er. A study done in â€Å"a region of Fiji where only one case of an eating disorder had been reported, [and there was] no exposure to westernized television until 1995† (Mulliniks) produced shocking results. â€Å"Within three years of television being introduced to the region, the amount of girls who induced vomiting to control their weight increased by 11 percent and the amount of girls scoring highly on a test for eating disorder risks increased by 16 percent† (Mulliniks). These results show a link in media and eating disorders. Only after being exposed to media for 3 years did a regions eating disorder stats go up by 11 percent, a region that prior to the introduction of television and mainstream media had only â€Å"one reported case of an eating disorder† (Mulliniks). â€Å"Additionally, [this study showed that] girls who watched TV three or more nights a week were 50 percent more likely to describe themselves as being ‘too fat’ (Mulliniks) . This result from the study bridges the problem of body image to mainstream media because the numbers show that the girls who are more exposed to the mainstream media, are also the girls who are more likely to have a negative image of their

Culture Up The Identity And Personality Of An Individual

Parenting Styles Jacqueline Bonner February 04, 2015 Argosy Culture makes up the identity and personality of an individual. Every individual has their own culture implanted in them from the community in which they live, the family in which they grew up and the personal identity people have given them in the overall society. The individual’s personal views, aspects of reasoning and judgment and their general logical thinking as an individual are affected significantly by their culture. In this aspect, the entire well-being of a person depends greatly on his or her culture. Becoming aware of how your actions and cultural beliefs affect you is important. We must assess ourselves regularly because an action or a†¦show more content†¦Individuals who are raised in a certain culture share certain values and assumptions. That does not mean they all share the same values to the same magnitude, nor does it mean that most of them, most of the time, agree with each other s ideas about what is correct and incorrect, wanted and unwanted, and so on. They generally agree with each other s assumptions about human nature, social relationships, and so on. . African Americans, Mexicans, Caucasians and Latinos have different beliefs, values and parenting styles when it comes to raising their children. Mexican families are closer and more united than American families. In Latino families, parental authority is extremely respected and valued and this authority is perceived as an expression of parental love. Children in Latino families are expected to follow their parents’ rules without question and to be respectful (Bain, 2006). Latino parents are commonly seen as strict with a high degree of control over their children. The parenting style is even more strictly carried out in inner city families, where the parents use even more control and encourage obedience from their children as compared to African-American parents (Florsheim,Tolan Gorman-Smith, 1996). One of the main intentions in Latino parenting is to learn social skills which include respect for authority and social relatedness. Mexican parents play a vital

Psychology Report Gym and the Gym Based Exercises

Question: Describe about scales to measure aspects of health? Answer: Introduction The psychology report is an effort to find the role of the gym and the gym based exercises in the Indigenous Australians. Lifestyle consciousness is seen in indigenous Australians that prefer Gym and Gym based exercises. The study will follow model narratives and will be highlighting the physical activity of the indigenous people. The effects of the introduction that a new programme has on the individuals are one of the aims of this research. Researchers have found that if the indigenous Australians are involved in exercises it results in the avoidance of the chronic diseases (Esgin, 2013). Exercises are the preventive measures that can protect against several diseases. The survey conducted to find the levels of participation among the indigenous males and females aged 15 or more have found that 38 percent of males and 32 percent of females have been the part of the physical exercises in some form or the other (NATSISS, 2008). There are several factors that act as barriers to prevent the exercise participation. The study will be discussing the psychological aspects of health by analyzing them through various scales. The research will then be analyzing the results so that the health of indigenous Australians can be improved by the introduction of physical exercises. Scales to Measure Aspects of Health Energy imbalance is the cause of weight gains and development of obesity. The intake of energy is much higher in these cases and the energy expenditure does not match with the intake. WHO (2003) has published evidences in the past that have highlighted the reasons of weight gains. This includes increase of fatty foods, and a sedentary lifestyle. Social and economic conditions are weak. Intake of sugar drinks and higher intake of food from outside home is one of the causes of increase in weight. Cultural understanding is of extreme significance for the indigenous research. Scaling methods should be acceptable to the respondents. For the purpose of the study 120 community members were taken into consideration (Australian Bureau of Statistics, 2010) The scale of measurement was modified risk behaviour scales to measure the attitude of indigenous Australians towards health and there inclination towards gym exercises. The Kessler Scale has been created for the measurement of psychological distress (AIHW, 2009). This scale measures the levels of distress which affects health as the individual also moves away from the gym exercises and healthy routines. The respondents of the study were asked the questions on the basis of K6 scale parameters. The questions were on the levels of nervousness, frustration, and the fatigue levels. These questions were asked four weeks prior to the interview. The symptoms of the people on the basis of the questions are judged (NCAIANMHR 2007). The distress measured by the Kessler scale should be reviewed to understand the health factors. Findings of Study Chronic diseases lead to a decrease in the quality of life (WHO, 2003). Research had found that the high membership fees of gym restrict the indigenous Australians to go to gym. The studies conducted to find the pre and post intervention of gym facilities highlighted the positive impact of the gym and gym based exercises (Wolff Dansinger, 2008) For the purpose of finding the study the scores of low/moderate and high and very high scoring was used. In Low to moderate the score levels were 5 to 11.9 while in high to very high the scoring levels were 12 to 25. The survey mentioned that the psychological scores of high and very high levels were prevalent. It was found in the survey that indigenous Australians preferred Football as a part of the physical exercise. However Gym and Gym based exercises that are individual form of physical exercise are considered to be selfish. This is because the community interaction is missing in this form of exercise (Australian Institute of Health and W elfare, 2013) Indigenous Australians want to be part of community set up and also lead their children to live in the same manner. However, Gym was considered as one of the reasons which created a gap between community upbringings (Australian Bureau of Statistics, 2009).There were several other reasons that came in front when the matter was discussed. Some of the respondents mentioned that the Gym memberships were costly and indigenous Australians were not able to afford the same (Thompson, 2009). Being overweight causes several problems that are linked to cardiovascular diseases, diabetes, and other issues like the pain in joints etc. Non gym goers or those that are refrained from any physical activity due to their work routines face these issues. In case of indigenous Australians, the cultural barriers and living in remote locations can adversely impact the health (Jewson, et al. 2008). In order to find the pre intervention and post intervention effects of the gym exercises, a office worker was taken as a part of the study (Emery, 2013). The women office worker was involved in the workout and gym based exercises, so that the pre intervention affects can be studied. After the gym exercise it was found that the stress levels of the native Aussie women came down. She was able to lift weights, which she found to be very useful for doing household works like carrying of heavy bags from shopping. The gym training not only affected him physically but also mentally. This was due to the fact that she was feeling positive at work, stress levels were down and she was able to handle more things (Emery, 2013). Another respondent mentioned that she did not exercise as the routine and habits were different. She was used to partying and Alcohol and felt ashamed of Gym as it was awkward to do exercise in front of other people. Being a part of the study she was involved in exercise in gym and training (University of Western Australia, 1999). That resulted in the change in her habits as she was more conscious towards her physique. Body scanning and analysis of the fat content in the body was done before the training schedule. The causes of blood pressure, chronic diseases were analyzed before the exercise as a part of pre intervention. Conclusion Change in attitude and increase of gym and gym based exercises along with physical work is required to keep the health intact. Indigenous Australians in remote areas should have the access and opportunities to gym. The results have clearly indicated that gym exercises can certainly restore healthy habits and prevent from diseases. References 1. Australian Bureau of Statistics (2009). National Aboriginal and Torres Strait Islander social survey, 2008. Retrieved: https://www.abs.gov.au/ausstats/abs@.nsf/mf/4714.0?OpenDocument. Accessed on 15 March 2015.2. Australian Bureau of Statistics (2010). The health and welfare of Australia's Aboriginal and Torres Strait Islander peoples. Canberra: Australian Bureau of Statistics.3. Australian Institute of Health and Welfare (2013). Aboriginal and Torres Strait Islander health performance framework 2012: detailed analyses. Canberra: Australian Institute of Health and Welfare.4. Better Health (2015). Aboriginal Health Barriers to Physical Activity. [Online]. Retrieved: https://www.betterhealth.vic.gov.au/bhcv2/bhcarticles.nsf/pages/Aboriginal_health_physical_activity. Accessed on 15 March 2015.5. Emery, R (2013). Proving Exercise Works For Indigenous People [Online] Retrieved from: https://www.sbs.com.au/news/article/2013/07/11/proving-exercise-works-indigenous-people. Accessed on 15 March 2015.6. Esgin, T (2013). Exercise as medicine in Indigenous health [Online]. Retrieved from: https://www.ecu.edu.au/faculties/health-engineering-and-science/news-and-events/sehs/2013/07/exercise-as-medicine-in-indigenous-health. Accessed on 15 March 2015.7. Jewson, E, Spittle M, and Casey M, (2008). A preliminary analysis of barriers, intentions, and attitudes towards moderate physical activity in women who are overweight. Journal of Science Medicine in Sport. 11(6): pp. 558561.8. Thompson, S (2009). Aboriginal perspectives on physical activity in remote communities: meanings and ways forward. Darwin: Menzies School of Health Research9. University of Western Australia, (1999). The Centre for Health Promotion and Research Sydney Physical activity guidelines for Australians: scientific background report. Sydney: Australian Government Department of Health and Ageing.10. Wolff, E and Dansinger, M L (2008). Soft drinks and weight gain: how strong is the link? Medscape Journal of M edicine. 10(8): p. 189.11. World Health Organization, (2003). Diet, nutrition and the prevention of chronic diseases. Report of a joint WHO/FAO expert consultation, in WHO Technical Series 916. World Health Organization: Geneva.

To Kill A Mockingbird Essays (560 words) - To Kill A Mockingbird

To Kill A Mockingbird Interviewer: How do you feel about the way you were portrayed in this book? Scout: I think that I was portrayed very well and I enjoyed the character very much. I think my character was very daring and also exciting. Through the many adventures I had I liked my character even more than I thought it would be. Interviewer: What was your most difficult moment in the book? What was going through your mind at that time? Scout: That is kind of a hard question but I thought the most adventurous yet exciting part of my part was when I dared Jem to touch the house of Radley, the man that is known to suck the blood of kids. A very well known man in town. Interviewer: If you could change any of your actions in the book, what would you do differently? Scout: I think that in the story there wasn't much that I would like to change but one thing that I would have liked my character to do was to show to the people in my town to know that not every black man is bad. Many people in my town happen to stereotype people that are black, but I should have taught them that they are not at all bad. Interviewer: How did you really feel about the other main characters in the book? Scout: I really enjoyed the other main characters. One character I liked what Jem, because no matter what you tell him he tries to act big. In the beginning when we dared him to touch Boo Radley's house, he didn't show any emotion. Even though he was scared he was acting like he was big. Interviewer: Describe your strengths and weaknesses to me. Scout: My strengths are that everytime I get into something, I never let go. My weakness is that whatever rumor I hear I always believe it. For the case of Boo Radley I judge him by what people said about him without really meeting him. Interviewer: What would you like us to know about you that wasn't covered in the book? Scout: My other characteristics is that I often like to chat and share rumors with others. I often like to share rumors but sometimes it becomes a habit of me. Interviewer: What are your feelings about the way your author ended the book? Scout: I felt really good about the ending because I learned a lesson by playing this part in the book. I learned that you should never judge a person on their looks or any rumors that go around. By listening to the rumors lead by others in my town I have learned that Boo Radley also known as Mr. Authur Radley is a nice and kind gentlemen. Interviewer: Now that you have everyone's attention, is there anything else that you'd like to say? Scout: I would just like to say to everyone listening out there to also get to know the person better before you spread any rumors. Like they say "It is easy to spread the rumor, but replacing the rumor to the truth is hard." Just get to know the person and you may find that person very nice and kind. Don't judge by looks, judge by the heart. You are hear on this earth to love one another.

Free Essays on Edmund Wallers

Explication of Edmund Waller’s â€Å"Go, Lovely Rose† â€Å"Go, lovely rose, Tell her that wastes her time and me That now she knows, When I resemble her to thee, How sweet and fair she seems to be. Tell her that’s young And shuns to have her graces spied, That hadst thou sprung In deserts where no men abide, Thou must have uncommended died. Small is of the worth Of beauty from the light retired: Bid her come forth, Suffer herself to be desired, And not blush so to be admired. Then die, that she The common fate of all things rare May read in thee, How small a part of time they share That are so wondrous sweet and fair.† -Edmund Waller â€Å"Go, Lovely Rose†, by Edmund Waller, is a passionate lyrical poem in which a youthful man expresses his intense understanding of the importance of love.He sends a rose to his beloved to â€Å"Tell her that [she] wastes her time and me [him]† (2) by acting shy and staying out of sight. This young lover is trying to tell his beloved that their time is too short for all things trivial. In sending the rose, his purpose is to show her what glory and happiness can come in forgetting society and letting her feelings free to show her a more magical path through life. The speaker of this poem tries to convey the importance of his message, this eagerness of his, by suggesting they enjoy their moment in love. In the first stanza, the young lover is commanding a rose to go and deliver a message of the urgency of his love to his sweetheart. He commands the rose to â€Å"tell her† that she is wasting their precious youth by acting ignorant when she knows that he admires her. He â€Å"resembles her to thee [the rose]† (4), and discovers â€Å"How sweet and fair she seems to be† (5). He uses the rose as a metaphoric symbol of her beauty. He compares her to the rose because, like all humans (yes, even women...!) roses are momentarily beautiful, but fades and lasts only for a... Free Essays on Edmund Waller's Free Essays on Edmund Waller's Explication of Edmund Waller’s â€Å"Go, Lovely Rose† â€Å"Go, lovely rose, Tell her that wastes her time and me That now she knows, When I resemble her to thee, How sweet and fair she seems to be. Tell her that’s young And shuns to have her graces spied, That hadst thou sprung In deserts where no men abide, Thou must have uncommended died. Small is of the worth Of beauty from the light retired: Bid her come forth, Suffer herself to be desired, And not blush so to be admired. Then die, that she The common fate of all things rare May read in thee, How small a part of time they share That are so wondrous sweet and fair.† -Edmund Waller â€Å"Go, Lovely Rose†, by Edmund Waller, is a passionate lyrical poem in which a youthful man expresses his intense understanding of the importance of love.He sends a rose to his beloved to â€Å"Tell her that [she] wastes her time and me [him]† (2) by acting shy and staying out of sight. This young lover is trying to tell his beloved that their time is too short for all things trivial. In sending the rose, his purpose is to show her what glory and happiness can come in forgetting society and letting her feelings free to show her a more magical path through life. The speaker of this poem tries to convey the importance of his message, this eagerness of his, by suggesting they enjoy their moment in love. In the first stanza, the young lover is commanding a rose to go and deliver a message of the urgency of his love to his sweetheart. He commands the rose to â€Å"tell her† that she is wasting their precious youth by acting ignorant when she knows that he admires her. He â€Å"resembles her to thee [the rose]† (4), and discovers â€Å"How sweet and fair she seems to be† (5). He uses the rose as a metaphoric symbol of her beauty. He compares her to the rose because, like all humans (yes, even women...!) roses are momentarily beautiful, but fades and lasts only for a...

Atomic Mass and Mass Number Chemistry Review

Atomic Mass and Mass Number Chemistry Review Atomic mass and atomic mass number are two important concepts in chemistry. Heres a quick review of what is meant by atomic mass and atomic mass number, as well as how actual particle mass relates to atomic number. Atomic Definitions Z is used to signify the atomic number or proton number of an atomZ # of protons of an atomA is used to signify the atomic mass number (also known as atomic mass or atomic weight) of an atomA # protons # neutronsA and Z are integer valuesWhen the actual mass of an atom is expressed in amu (atomic mass units) or g/mol then the value is close to A Are Atomic Mass and Atomic Mass Number the Same? Yes and no. If you are talking about a sample of a single isotope of an element, the atomic mass number and the atomic mass are either very close or else the same. In introductory chemistry, its probably fine to consider them to mean the same thing. However, there are two cases in which the sum of the protons and neutrons (atomic mass number) is not quite the same as the atomic mass! In the periodic table, the atomic mass listed for an element reflects the natural abundance of the element. The atomic mass number of the isotope of hydrogen called protium is 1, while the atomic mass number of the isotope called deuterium is 2, yet the atomic mass is listed as 1.008. This is because natural elements are a mixture of isotopes. The other difference between the sum of protons and neutrons and the atomic mass is due to mass defect. In a mass defect, some of the mass of the protons and neutrons is lost when they bind together to form an atomic nucleus. In a mass defect, the atomic mass is lower than the atomic mass number. Source Jensen, William B. (2005). The Origins of the Symbols A and Z for Atomic Weight and Number. J. Chem. Educ. 82: 1764.

Government Contract Law Assignment Example | Topics and Well Written Essays - 1000 words - 1

Government Contract Law - Assignment Example With this regard, the assignment elaborates on the Federal Acquisition Regulation (FAR), on the change of orders as well as disputes and appeals. The present change of order has been duly analyzed regarding their compliance with the FAR policies. The judicial processes have been detailed to ensure dispute resolution and provide recommendations on the judicial management of the contract. In a government contract, there is a clause that allows the contracting officer to make independent changes in the selected areas within the scope of the legitimate contract. The clauses of the contract if altered must be following the change that is mechanized. However, there is a provision that the contractor is not obliged to continue the performance if the changes cost beyond limitations laid under the law of Limitation of Cost or Limitation of Funds Clause 32.706-2. This clause always attaches unforeseen circumstances with the contract that usually arises after the execution of the contract. The PrintMark Publication has signed a contract for creating an architectural design as well as constructing the same with the US government. However, after the contract was duly legitimized, the government implemented their change order and altered the site, where the construction was duly scheduled. This change implemented by the government has actually increased the cost involved with a c ontract of construction (Department Of Defense, 2005). With the implementation of the change order, the organizational cost for construction has gone up and the contractor i.e. PrintMark Publication has to incur a severe amount of losses if they continue with the contract. However, the organization can duly negotiate with the government about the equitable adjustment of the contract. This would ensure that the contract can be reconstructed in such a manner that the contractor is entitled to have same benefits that he would have enjoyed if the change was not encountered. The contractors must be informing the government contracting officers about the negotiation so that it can be duly implemented.

How did notions of the traditional woman develop in the 20th century Essay

How did notions of the traditional woman develop in the 20th century and what purposes did this serve - Essay Example Pulling against traditions was a sense of urgency, progress and movement so evident in the industrial, geographical, technological and political changes distressing the society. Women’s roles were intended to stabilize all this uncertainty; however, women could not help except see a breakthrough for themselves in this growth. Opportunities opened up in the factories, retail establishments as well as offices, offering single â€Å"modern girl† new options. Education was now mandatory for both men and women in most states (Kipgen, 2010, p. 218). Women sought after higher education, first in all female institutes, then in co-ed environments. Advocacy for rights of women, with suffrage in the lead, also gathered momentum. In spite of these changes, throughout the 19th century, 95 percent of married women stayed "at home." While the 20th century witnessed a distinctive change in ideas respecting sex relations at a level of social philosophy, far from a traditional notion of â€Å"traditional woman†, supremacy towards a modern girl idea of gender equity was robustly contested and by all means achieved. Important legal, professional, educational, and personal changes did take place, however, by 1901 full, indisputable gender equality stayed almost as the utopian as in the 1800. Research collaboration explores how the â€Å"modern girl† came out as a worldwide phenomenon in the beginning of the 20th century. By pursuing romantic love and wearing provocative fashions, â€Å"modern girls† universally appeared to disregard the responsibilities of loyal daughter, wife and mother. The â€Å"modern girl† developed as a heuristic category which allows new insights into the forces of globalization as well as manifestations of gendered modernity. According to a case study of a cosmetic advertising in India, China, Germany, South Africa, and the United States, it was evident the â€Å"modern girl† in every locale was

OAS last meeting :: essays research papers

Organization of American States   Ã‚  Ã‚  Ã‚  Ã‚  The Organization of American States (OAS) brings together the countries of Western Hemisphere to strengthen cooperation and to advance common interests. It is the region’s premier forum for multilateral dialogue and concerted action. The OAS helps in many different ways to make changes around the world. Actually the OAS is having a meeting in Ft. Lauderdale (Florida) and some of their actions are showing their interest to defend democracy and human rights around Latin America as for example in Venezuela. Furthermore, the OAS demonstrates interest in Strengthening Security, and combating illegal drugs in Colombia (South America); one of the most important things the OAS is focused on is the fostering free trade between countries’ members association. This OAS meeting in Ft. Lauderdale is making history, focusing in the most critical problems that countries from Latin American are trying to combat.   Ã‚  Ã‚  Ã‚  Ã‚  The OAS plays a key role in strengthening democratic and human rights institutions and practices in the countries of the Americas. As for example in Venezuela during the meeting, the OAS shows their interest in the political tension that Venezuela is passing through after the last president elections. In Venezuela the opposition reclaims that past election was not totally legal, these accusations to Venezuelan’s government made the OAS to worry about the status of democracy and human right protection to Venezuelan society. According to news article on the Miami Herald another fact which makes the OAS worry about Venezuela’s situation is the actual President Chavez’s hostility against the United States type of democracy. The OAS discuses all these conflicts during the recent meeting and finally Venezuela accepts the role in the OAS for non-governmental groups that evaluates countries where democracy is allegedly at risk, such as Venezuela.   Ã‚  Ã‚  Ã‚  Ã‚  The OAS is working on different limit borders to make Latin American countries safer, and they are also looking forward to prevent terrorism by strengthening control borders, by trying to eliminate drug trafficking and also by increasing security among law enforcement authorities in different countries. For example in Colombia (South America); during the meeting the OAS members discuss Colombian treaties to acquire national peace; this process supports, informs, helps and verifies initiatives from Colombian people to defend their social security in small regions of their territory.   Ã‚  Ã‚  Ã‚  Ã‚  Since OAS’s creation, their main goal has been to create a hemisphere-wide trading zone, called Free Trade Area of the Americas (FTAA).

Results and Discussion Example

Results In this experiment we used paper chromatography to determine the amount of chlorophyll a, chlorophyll b, xanthophyll, and beta-carotene in a tube of blended leaf extract. We recorded our findings on the table labeled table 1. Table 1 shows the transmittance at each wavelength on a table from 400 to 720. The information on Figure 1 came from the leaf extract on the paper chromatography that we used; with the help of acetone we saw the spectrum and the differences of the different pigments.Percentage transmittance in Table 1 show that the lower the number, the more dense that solution is at that specific wavelength. As the numbers get higher, the less dense it is and if the number is 100 at a specific wavelength then the solution was clear. As we can see from Table 1, each of the pigments had different low transmittance based on how high the absorption was in each of the pigments. For this we calculated that at there was a peak on the graph at the lowest points in table 1.For i nstance, in the chlorophyll a column in Table 1 the lowest points on the graphs at 8 and 28 and also at 44, which shows that there will be a peak around those points. In chlorophyll b, the lowest points are from 25. 2, 12. 4, and 9. 4, which would be the first peak and the next will be at 55. 6. In Xanthophyll, the points were the first peak will be are 52. 4, 43. 6, 44. 8, and 53. 0. Lastly in Carotene, the graph will peak at 92. 2, 93. 6, and 92. 4. By using these points we predicted the behavior of the graph.TABLE 1| | | Wavelength| Chlorophyll a| Chlorophyll b| Xanthophyll| Carotene| 400| 12| 42| 61. 8| 96. 8| 420| 8| 25. 2| 52. 4| 99. 6| 440| 28| 12. 4| 43. 6| 92. 2| 460| 71. 5| 9. 4| 44. 8| 93. 6| 480| 81| 48. 4| 53| 92. 4| 500| 88| 88. 6| 83. 2| 99. 2| 520| 88| 91. 4| 94. 2| 100| 540| 84. 5| 87. 4| 95. 6| 100| 560| 83| 85. 2| 96. 4| 99. 2| 580| 71. 5| 83. 4| 96. 2| 100| 600| 72. 5| 76. 8| 96| 100| 620| 61. 5| 78. 2| 94. 4| 100| 640| 61. 5| 59. 6| 94. 6| 100| 660| 44| 55. 6| 9 3. 2| 100| 680| 48. 8| 67. 8| 92. 6| 99. 8| 700| 64. 6| 60| 91. 4| 92. 8| 720| 50. 6| 52. 4| 89| -|On the graph labeled Figure 1, it shows the absorbance of each of the pigments that are shown in Table 1. The difference between Table 1 and Figure 1 is that where table 1 shows the transmittance points of each wavelength of each pigment, Figure 1 shows the absorption peaks of each of the wavelengths. For chlorophyll a, the highest peaks are at 420, but then the graph plummets at around 450 and has another peak between 650 and 700. For chlorophyll b, the highest peaks of absorbance are between 450 and 500 then it makes a big plummet around 500 and has another peak between 640 and 660.For Xanthophyll, the only peak is between 420 and 480, then the graph as minimal movement from there and stays in the 90 range never hitting 100. Lastly, beta-carotene has small peaks at 440 and 460 and then the graph stays almost stagnant at 100. Discussion The purpose of this experiment was to find out w hy the leaves on a tree changed color in the fall. We predicted that the molecules in the leaves of the tree attributed to the change. We found out that the molecules: Chlorophyll a, Chlorophyll b, Xanthophyll, and Beta-carotene are the main molecules that reside in a leaf.We also stated that the tree absorbs the elements found in some of these molecules so that they can be used in the spring, when the trees are green once more. This prediction came from when we studied the molecular composition of each of the molecules and correlated the results the experiment and the specific elements that the tree would have needed for another year. The results of this experiment show that at there is less chlorophyll a and chlorophyll b in the composition of the leaves that were used.This meant that when the season is changing, the molecules in these structures start to be absorbed back into the tree. This conclusion came from the fact that in table 1 from 420 and 440 Nano meters there was a low transmittance rate of these two molecules, which means that the absorbance rate was high. During the fall season there is not enough sunlight for the trees to perform photosynthesis to make their own food, what a plant needs to survive would be the Magnesium and Nitrogen that are found in the molecular structures of chlorophyll a and b.Therefore they absorb all of these nutrients that the tree needs to survive so that they can make it thorough the winter. Errors could have been made with this experiment. Some of them include that the individuals in different groups did not have the same control as the others. We did not measure the same amount of acetone in each vial nor did we measure how much of the leaf extraction each person used. Another source of error would be how the spectrometer was used, if it was reset the same at each wavelength each time.Compared to previous experiments the information that was collected in this one was accurate. The peaks for each pigment were roughly around the same wavelength. The standard for chlorophyll a was peaks at 430 and 662, chlorophyll b peaks at 453 and 642, xanthophyll a range from 450 to 550 and for the beta-carotene peaks at a range from 450 to 550. Our results were roughly around the same as you can see from Table 1. The end result of the experiment was successful, because of the results that we produced were similar to the results of previous experiments.

International Trade Essay - 814 Words

International Trade In today’s world there are many issues in need of reformation, one of which is international trade, otherwise known as globalization. Although there are a great deal of rules, regulations, and policies imposed on international trade, the manner in which those rules have been enforced is a major controversy that seems to be escalating day by day. At the center of the controversy is the World Trade Organization (WTO). The WTO was established in 1995 in order to transform the General Agreement on Tariffs and Trade (GATT) into an enforceable global commercial code. Critics of the WTO say that instead of being run democratically and in the interest of member countries, it has become the enforcer of corporate managed†¦show more content†¦Once again they are demonstrating that the pursuit of wealth is it’s number one goal and ignoring massive protests launched by American labor unions who argue that the pact could cost hundreds of thousands of American jobs due to an increase in Chinese imports and companies who may decide to relocate factories to China, where cheap labor can be utilized. Another prominent issue concerning the WTO is organically produced foods, which have become a highly demanded product in the last few years. Countries take part in distributing and manufacturing foods because it has led to an increased amount of trade (increasing exports and minimizing imports). The parties that have benefited most from organically produced foods are farmers and agricultural businesses in other countries. But a negative impact would be increased competition among businesses. This represents a rational point of view. Competitors are only concerned with their own wealth and distinction. The company and its well-being is their self interest. Their primary goal is success. Businesses expect other businesses, along with the customers, to show obedience. Companies, individuals and countries alike all view the perspective of the rational dimension. The economy as a whole is rational. Groups such as the World Trade Organization (WTO) are using their hierarchy of power to benefit themselves. The WTO has enforced it’s own laws on the opening ofShow MoreRelatedThe Trade Of International Trade1538 Words   |  7 PagesInternational trade is the exchange of capital, goods in general, and services across other countries or territory provided if the government impose free trade. 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While new trade ties have emerged with East Asia, long-time trading partners such as the United States and European nations have also intensified their trade relationships, to the point that the EuropeanRead MoreInternational Trade16708 Words   |  67 PagesExport/Import Procedures and International Trade Contents 1) Outline on International Trade 2) Problems and Barriers to Trade 3) International Trade Terms 4) Trade Financing Payment 5) International Trading Pricing 6) Shipping Documents 7) Cargo Insurance 8) Shipping Organizations 9) Containerisation 10) Freight Market 11) Shipping Operation 12) International Organizations 13) Physical Distribution 14) Modes of Transportation Chapter 1 Outline on International Trade 1. Introduction Read MoreTrade Finance and International Trade1903 Words   |  8 PagesAccording to Branch trade finance has become a strong bargaining point in the conduct of international trade. Negotiating strategy needed to reduce finance risk (Branch, 2005). 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Large screen Liquid Crystal Display (LCD) and High Definition Television (HDTV) is a good exampleRead MoreImpact Of Trade Relations On International Trade1485 Words   |  6 Pagescountries are dependant on international trade and the government plays a big role in this through forming their trade policy (Miller, 2010). In the past smaller countries have relied on trading with bigger nations, but in the mid-1960’s a lot of countries looked to pursue independence in their foreign policy. Even though we live in this new technological and global age, forming trade relations is vital to our economy. Every country has different trade policies which determine how trade occurs between themselvesRead MoreThe I nternational Trade Concepts1357 Words   |  6 PagesThe International Trade Concepts The International Trade Concepts simulation helps one to learn the advantages and limitations of international trade. One can also take what is learned from the simulation and relate it to the U.S. economy and the effects international trade has on it. Learning about how fiscal and monetary policies affect the exchange rate is important as well. Not only can one apply what was learned in the simulation to the U.S. economy but they can also apply it to their workplace

Mental Illness Which Requires Medication And Intervention...

Bipolar disorder is a mental illness which requires medication and intervention (Allison M. R. Lee et al., 2014). This paper focuses on the biological, cognitive, and psychological effects of this disorder. It will also explain the social issues associated with this illness and the treatments available for women. It is known as a mood swing disorder because a person can go from being in a state of happiness and having tons of energy to deep depression and feeling tired (Nevid, Rathus Greene, 2014). People who experience bipolar disorder have no indication of when their mood will change. One day they may feel great and ready to conquer the world and the next day they may want to end their life. They basically lose hope in themselves and†¦show more content†¦Markus Nothen, who is a professor at the University of Bonn, Germany, has said that there are many different genes that interact with environmental factors (Muhleisen et al., 2014). Some environmental factors would includ e stress and drug or alcohol dependency. Families need to be educated about this disorder so they can be aware of the symptoms. Treatment can be administered for this illness especially if there is a family history. Many people are diagnosed with depression and given medication that does not help with their bipolar symptoms (Llewellyn, Stowe Strader, 2014). Antidepressants are prescribed for major depression and a bipolar patient needs more medication for their disorder. The medications that are taken for depression could cause more harm to the person’s psychological behavior. When it takes longer to diagnose bipolar disorder a person’s depression may get worse and cause harmful effects in their everyday life. Bipolar disorder is often overlooked or misdiagnosed when a person’s aggression and anger happen frequently. People in a manic episode tend to show poor judgment by being argumentative and may destroy property while having an episode of anger (Nevid, 2014 , p 257). Men are more likely to experience these manic episodes and go overboard on drinking and have destructive behavior and women have more depressive episodes that include weight gain and insomnia ( Duerr, 2014). Stressful life events increase a

The Role Of Nurse Patient Relationship Model - 1361 Words

Hildegard Peplau, recognized as the mother of psychiatric nursing, focused on helping psychiatric clients, but her theories have influenced all of nursing. Peplau finished her work, Interpersonal Relations in Nursing, in 1948, and was published in 1952. According to Peplau (1952), nursing is a â€Å"significant, therapeutic, interpersonal process. It functions co-operatively with other human processes that make health possible for individuals in communities†. This interpersonal relationship has become known as the nurse-patient relationship, and it begins once a felt need is present. It is characterized by overlapping phases that have a number of therapeutic goals to be accomplished through the orientation phase, working phase (identification and exploitation), and resolution phase. Peplau views nursing as a force that is always maturing, and developing through educational, therapeutic, and interpersonal practices. Nurses everywhere owe a lot to Hildegard Peplau. She theor ized about a partnership between clients and nurses in developing a better recovery. The interpersonal relationship model is still used by clinicians working with individuals who have psychological problems, however, every nursing field follows this model to develop the nurse-client relationship. Interpersonal Relationship Peplau defined her theory, Interpersonal Relationship, as â€Å"An interpersonal process of therapeutic interactions between an individual who is sick or in need of health servicesShow MoreRelatedA Basic Assessment of Hildegard Peplaus Theory Essay819 Words   |  4 PagesBy giving nurses a sense of identity, nursing theory can help patients, managers and other healthcare professionals to recognize the unique contribution that nurses make to the healthcare service (Draper 1990).Hildegard Peplau, one of the role model of nursing theorist, established a theory of interpersonal relationships in nursing. 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Transformation Leadership theory was utilizedRead MoreAppl ication Of The Theory Of Interpersonal Relations1408 Words   |  6 Pagesbirth to Letitia Anne in 1945 but for personal reasons, she did not marry Letitia s father, Donald McIntosh. She wrote many articles for professional journals, textbooks, and handbooks. She was initiated into the nursing hall of fame of the American Nurses Association in 1998 and received numerous honors and awards. Diagnosed with abdominal cancer, Peplau died in her sleep at her dwelling in California in 1999, at the age 89 (Tomey Alligood, 2002). Education Background Peplau had a diploma in nursingRead MoreLiterature Review.. According To The Canadian Nurses Association,1696 Words   |  7 PagesAccording to the Canadian Nurses Association, limited research and clinical evidence exist on the effectiveness of nursing care delivery models across the continuum of care (2010). 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How Is Romeo Presented in the First Two Acts of Romeo and Juliet Free Essays

In the first two acts of Romeo and Juliet, Romeo is presented as a young, love struck man. He is a dreamer and a fantasist. The audience feels sympathetic towards him because love is taking him nowhere. We will write a custom essay sample on How Is Romeo Presented in the First Two Acts of Romeo and Juliet or any similar topic only for you Order Now In Act 1, we first meet Romeo as he is sobbing about his love for a young lady, who we later find out to be Rosaline. The first line he speaks, â€Å"Is the day so young?†, suggests that he is bored and waiting for something to happen as he is so shocked about how early it is in the day. To emphasise this, he goes on to say, â€Å"Ay me, sad hours seem so long†. Benvolio asks Romeo why he is sad and he explains that he is sad because he has no love and his line, â€Å"Out of here favour where I am in loves† shows that the person he loves does not love him. This is how the audience first learns of Romeo’s love struck ness. To show even more how love struck and sad Romeo is, he admits it to himself when he says, â€Å"This is not Romeo, he is some other where.† Benvolio asks him to â€Å"examine other beauties† to cure his love sickness. But Romeo says that if his eyes see anything more beautiful than Rosaline, then â€Å"turn tears to fires†. This shows that Romeo is very single-minded on Rosaline and believes that no one could be more beautiful than her. On the way to the Capulet’s party, Romeo is presented as upset and a spoil sport. He explains that he has a â€Å"soul of lead† which â€Å"stakes [him] to the ground [he] cannot move†. This shows that he is very serious about his love for Rosaline and feels his sadness as a heavy weight on him, not allowing him to have fun, but to grieve. Reluctantly, Romeo agrees to go to the party in the hope that he will find Rosaline. At the Capulet’s party, Romeo finds another girl, Juliet, and is entranced by her beauty. He asks himself, â€Å"Did my heart love till now?†. This line suggests that he completely falls in love with Juliet and asks himself whether he did love Rosaline or whether he had just got it into his head. This shows that Romeo was very single-minded and a sudden link is made between him and Juliet. However, as Romeo is so absorbed by Juliet he looses his disguise. When Tybalt, a keen Capulet, finds out about this and becomes very angry, describing Romeo as a â€Å"villain Montague† because he has gate crashed the Capulet’s party. This shows that Tybalt is an enthusiastic Capulet and believes Romeo is of the opposite being. But Capulet himself is in a very jolly mood and he describes Romeo as a â€Å"portly gentlemen† and a â€Å"well-governed youth†, showing that Capulet’s beliefs of Romeo is that he is a dignified and well behaved young man. Romeo is also described as a handsome and gentle young man. This is shown in Act 2, as the Nurse described Romeo as â€Å"his face be better than any man’s† and â€Å"gentle as a lamb†. This shows that there are different views of Romeo from different characters but, in general, Romeo is presented as a young, handsome and brave young man who is a distant part of his feud-orientated family. As soon as Romeo falls in love with Juliet a sudden link is made between them. The way they speak is very poetic and in verse, as if they know exactly what to say next. Also, Romeo is presented as religious when he compares his lips to â€Å"two blushing pilgrims†. Romeo is presented as a quite sensible young man and, unlike Benvolio and Mercutio, he doesn’t joke about and mess around. He also doesn’t seem to be part of the dispute between the Capulet’s and Montague’s, showing how keen his is on love. On the other hand, as soon as Romeo and Juliet fall in love they become trapped in their own world and don’t mention much about their families being enemies. Romeo sometimes risks his life and many consequences in order to see Juliet, showing how much he truly loves her. Romeo is also presented as a risky and completely taken in man. At the end of Act 2, Romeo agrees to marry Juliet, but neither the Capulet’s nor Montague’s no about it. This is very risky for Romeo and Juliet and Romeo seems to dismiss the consequences because he is so taken in by Juliet. To make things even more secretive, Romeo arranges for a rope ladder to be sent to the excited Nurse, so that Romeo can climb into Juliet’s room to get married. In conclusion, Acts 1 and 2 of Romeo and Juliet presents Romeo as, at first, a fantasists and love struck man. By the end of Act 2, he is seen as a very entranced and risky man, showing his devotion of love towards Juliet. How to cite How Is Romeo Presented in the First Two Acts of Romeo and Juliet, Essay examples

Ethics and Governance in Depreciation Policy for Financial

Question: Discuss about theEthics and Governance in Depreciation Policy for Financial. Answer: Introduction: The financial statements are prepared in accordance with the conceptual framework of accounting embedded with the accounting standards and the generally accepted accounting principles. In the given case study, emphasis has been placed on depreciation part of the accounting. In the first case, the change in the method of depreciation from Straight Line Method to Sum of year digit method has been discussed with compliance to the Australian Accounting Standard 116. In the second case, the depreciation has been calculated with different methods and the advantages and the disadvantages of each depreciation method have been provided. In the third case, the consolidated financial statements of the Wesfarmers Company has been analysed in regard to the depreciation if the valuation of the property, plant and equipment. The report is then ended up with the conclusion and recommendation. Meaning Of Depreciation And Its Uses The term depreciation is referred to as the amount set aside from the value of the asset regularly every year on account of the normal loss, wear and tear of the assets of the company. The depreciation is the non cash item and is charged to the Statement of Income. Its major use is that the company will be able to match the cost of the assets with the benefits that the company has derived from the asset over the period of time. Apart from this matching concept, the company will be able to report the value of the assets in the true and fair manner. The third use of the depreciation is that it helps the company in saving the tax component as the tax laws provides that the depreciation is the allowable expenditure while calculating the taxable income (AASB, 2011 and 2014). Ethics And Givernance - Changing Depreciation Stakeholders: Stakeholders are the persons who are vital to the survival of the company. Stakeholder includes shareholders, employees, government authorities, financial institutions and the customers. In the given situation, the first stakeholder is the shareholder of the company (Fontaine, Haarman and Schmid, 2016). Shareholders have invested in the company in order to have the dividends and the increase wealth. Since in the given case, the profit has been deferred from year 2016 and 2017 to the year 2018 and 2019, the return on the investment of the shareholders has been declined. Another major stakeholder is the taxation authorities as less tax will be paid by the company on the declared profits of the year 2016 and 2017. Ethical Issues: Ethics are the rules and principles comprised of the moral beliefs which conduct the behavior of the individuals involved in the working of an organization like employees, top management officials, etc (Andrews, 2011). Following are the ethical issues which is present: Financial Statements of the company has been misrepresented by deferring the profit of the company. Thus, ethics in Finance has been violated. The decision has been made with the consent of employees. Thus, ethics in personnel have been violated (Harsen, 2004). The professional, Marion, has agreed in order to save his professional engagement with the company. The change in method of depreciation has been done without informing shareholders of the company and other stakeholders (Arjoon and Gopal, 2003). Non compliance with the requirement of the accounting standards as the company has not disclosed the fact of change in the method of depreciation in the notes to the financial statements of the company (Badaracco, 2005 and Longstaff , 2008). Objective of the Company Met by Change in Method The company has been advised by Marion to change the accounting method from the straight line method to Sum of Years digit method. In the straight line method, equal amount is charged over the useful life of an asset whereas under the sum of years digit method, the higher depreciation is charged in the nearer periods and the lower depreciation is charged in the future periods (Australian government official website, 2014). By changing the depreciation method the company will be able to generate lower profits in the earlier years and higher profits in the future years and thus in this way the change in method of depreciation has been able to meet the objective. Marions Action Compliance The International Accounting Standard 16 and Australian Accounting Standard 116 provide that the company shall disclose all the facts relating to the assets of the company that has happened during the year (EC Europa, 2009). This standard prescribes that the following shall be disclosed: Carrying amount of asset Depreciation method Useful life of an asset Value of Impairment Loss and Reconciliation statement showing each head of the Property Plant and Equipment (IFRS Official Website, 2012) Also as per the accounting standard 108, the company is required to disclose the change in method of depreciation as the change in an accounting estimate. From the above, Marion fails to comply with the said provisions. Decision Analysis Depreciation Of Machinery Depreciation Schedules DEPRECIATION SCHEDULES UNDER DIFFERENT METHODS S. No. Method Year Ending 30th June Annual Depreciation Expense Accumlated Depreciation Carrying Amount at end of Year 1 Straight Line 2016 $ 110,000 $ 110,000 $ 1,090,000 2017 $ 110,000 $ 220,000 $ 980,000 2018 $ 110,000 $ 330,000 $ 870,000 2019 $ 110,000 $ 440,000 $ 760,000 2020 $ 110,000 $ 550,000 $ 650,000 2 Diminishing Balance 2016 $ 264,000 $ 264,000 $ 936,000 2017 $ 205,920 $ 469,920 $ 730,080 2018 $ 160,618 $ 630,538 $ 569,462 2019 $ 125,282 $ 755,819 $ 444,181 2020 $ 97,720 $ 853,539 $ 346,461 3 Sum of Years Digit 2016 $ 200,000 $ 200,000 $ 1,000,000 2017 $ 180,000 $ 380,000 $ 820,000 2018 $ 160,000 $ 540,000 $ 660,000 2019 $ 140,000 $ 680,000 $ 520,000 2020 $ 120,000 $ 800,000 $ 400,000 4 Units of Production Method 2016 $ 205,224 $ 205,224 $ 994,776 2017 $ 184,701 $ 389,925 $ 810,075 2018 $ 225,746 $ 615,672 $ 584,328 2019 $ 238,060 $ 853,731 $ 346,269 2020 $ 246,269 $ 1,100,000 $ 100,000 Advantages and Disadvantages of Each Depreciation Method Straight Line This method is very easy to calculate and solve and is less time consuming. The main disadvantage is that it may not reflect the fair view of the performance of the assets (Arora, 2015). Diminishing Balance It is useful where the importance and the usage of the asset decline over the useful life. The disadvantage is that the rate of depreciation is subject to the personal bias. Sum of Years Digit Method It is very easier to grasp and on the other hand is very cumbersome to calculate. Units of Production Method It reflects the fair view of the performance of the assets. But it is very difficult to identify and difficult to measure the sense of reliability. It is recommended to adopt straight line method as it is permissible by the Australian Accounting Standards. Buy Or Lease OPTION 1 BUY Calculation of IRR YEAR 0 YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 NPV @ 20% Present Value (1200000) 350000 340000 355000 360000 380000 PVF (20%,n) 1.00 0.83 0.69 0.58 0.48 0.40 Present Value (1200000) 291667 236111 205440 173611 152713 Net Present Value (140458) NPV @ 10% Present Value (1200000) 350000 340000 355000 360000 380000 PVF (10%,n) 1.00 0.91 0.83 0.75 0.68 0.62 Present Value (1200000) 318182 280992 266717 245885 235950 Net Present Value 147725 IRR (In Percentage) = Low Rate + (NPV at lower rate / (NPV at lower rate - NPV at higher rate))*(Difference in rates) = 10+(147725 / (147725-(-140458))*(20-10) = 15 OPTION 2 LEASE Calculation of IRR YEAR 0 YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 NPV @ 70% Present Value (250000) 170000 150000 195000 205000 480000 PVF (70%,n) 1.00 0.59 0.35 0.20 0.12 0.07 Present Value (250000) 100000 51903 39691 24545 33806 Net Present Value (55) NPV @ 60% Present Value (250000) 170000 150000 195000 205000 480000 PVF (60%,n) 1.00 0.63 0.39 0.24 0.15 0.10 Present Value (250000) 106250 58594 47607 31281 45776 Net Present Value 39508 IRR (In Percentage) = Low Rate + (NPV at lower rate / (NPV at lower rate - NPV at higher rate))*(Difference in rates) = 60+(39508/ (39508-(-55))*(70-60) = 70 As the Internal Rate of Return is higher in case of Leasing decision, the company shall adopt to have Machinery on Lease. Analysis - Wefarmers Reporting of Property Plant and Equipment The property plant and equipment has been reported at the cost less depreciation and impairment loss if any. The total carrying amount of Property plant and equipment for the year ending 30th June 2016 is $9612 Million. Composition of Property Plant and Equipment Property Plant and Equipment is composed of Freehold Land, Building, Leasehold Improvements, Plant, Vehicles and Equipment and Mineral Lease and Development (Wesfarmers Official Website, 2016). Methods of Depreciation Used The depreciation has been calculated using straight line method in which cost has been depreciated over the useful life of an asset. Rates of Depreciation or Useful Life of an Asset Yes the group has disclosed the useful life of an asset. These are mentioned below: Buildings 20 to 40 years Plant and Equipments Between 3 and 40 years Leasehold Improvements Leasehold period Amount of Depreciation for Current and Previous Year The amount of Depreciation charged in the current year is $1162 million and in the previous year $1101 million. Purchases and Treatment of Borrowing Costs Yes, asset of $1738 million has been purchased during the year. Yes assets of $984 million are under construction. Borrowing costs have been capitalized by the company in the assets. No the company does not have any commitments for future expansions. Conclusion Depreciation has been the major part of the financial statements as it is directly related to the assets of the company which is counted as the Net Worth of the company. Every company is required to follow the guidelines of the accounting standards of the respective countries and also the International Accounting Standards. To conclude, every company shall follow the correct depreciation method and shall not in any manner manipulate the financial statements of the company. References AASB, (2011), Depreciation available on https://www.aasb.gov.au/admin/file/content102/c3/AAS04_8-11.pdf accessed on 31/08/2017 AASB, (2014), Complied AASB Standard Property, Plant and Equipment available at https://www.aasb.gov.au/admin/file/content105/c9/AASB116_07-04_COMPjun14_07 -14.pdf accessed on 31/08/2017 Andrews K., (2011), Ethics in Practice : Managing the Moral Corporation, Harward Business Review School Press. Arjoon S. , J. Gopal, (2003), Ethical Orientation for Future Managers : The Case of Trinidad, Social and Economic Studies, pages 98-114. Arora D. (2015), Different Methods of Depreciation calculation available on https://scn.sap.com/docs/DOC-46210 accessed on 31/08/2017 Australian government official website, (2014), Amendments to Australian Accounting Standards Clarification of Acceptable Methods of Depreciation and Amortization, available on https://www.legislation.gov.au/Details/F2014L01174 accessed on 31/08/2017 Badaracco T, (2005), Business Ethics : A view from the Trenches, California Management Review, Pages 8-28. Fontaine C, Haarman A. and Schmid S, (2016), The Stakeholder Theory available on https://www.martonomily.com/sites/default/files/attach/Stakeholders%20theory.pdf accessed on 31/08/2017 EC Europa, (2009),International Accounting Standard 16- Property, Plant and Equipmentavailable at https://ec.europa.eu/internal_market/accounting/docs/consolidated/ias16_en.pdf accessed on 31/08/2017. Harsen (2004), Business Ethics Platitude or Commitment ? Centre for Business Ethics, Bentley MA IFRS Official Website, (2012), IAS 16 Property, Plant and Equipment available at https://www.ifrs.org/Documents/IAS16.pdf accessed on 31/08/2017 Longstaff S., (2008) The ethical dimension of Corporate Governance available at https://www.ethics.org.au/on-ethics/blog/december-2008/the-ethical-dimension-of -corporate-governance accessed on 31/08/2017 Wesfarmers Official Website, (2016), Annual Report 2016), available on www.wesfarmers.com.au accessed on 31/08/2017.

Comm 307 Study Guide Essay Example

Comm 307 Study Guide Essay Comm 307 Midterm Study Guide Types of Hypotheses: ?tentative statement about the relationship between IV DV ?One-tailed ?predicts the specific nature of the relationship or difference ?EX: Females will talk more (higher word count) than males in mixed dyadic dinner conversations ? Two-tailed ?predicts significant relationship or difference, but does not indicate the specific nature of the relationship ?EX: There is a significant difference in the quantity of words used (talkatively) by males females in mixed dyadic dinner conversations ? Null (Ho)? predicts that groups will not vary on DV or that there is not a relationship between 2 variables ? Ho: r=0 H1: r=0 ?H0: male talkatively = female talkatively ?**you are testing the Null hypotheses Types of Research Questions: ?explicit question researchers ask about variables of interest ? Directional ?asks if there is a positive or negative relationship or a specific difference between two or more variables ?EX: Do females use significa ntly more words than males? ?Nondirectional ?when researcher asks if there is no relationship between two or more variables or a significant difference occurs between two or more variables EX: Is there a significant difference between the amount of words (talkatively) females and males? Variables: ?Any entity that can take on different values ?Concrete ?birth order (first born, middle child, baby) ?sex (male or female) ?Abstract ?age (a number that changes) ?level of public speaking anxiety (score) ?Relationships ?correspondence between two variables ?Correlation ?Positive, Negative, No relationship ?Strength and Direction Variables: ?Independent ?variable(s) that is (are) manipulated or changed ?we study the impact on the DV ?Dependent ?variables recorded or measured ?we study changes in DV **RESPONDER! ?Intervening Variables ?variable that intervenes between the independent variable the dependent variable ? Antecedent Variables ?must consider what happened previously ?a study exa mining the impact of conflict (IV) on marital satisfaction (DV) ?possible antecedent variables could potentially impact the results ? Variable Levels ?Nominal ?three rules: ?mutually exclusive ?equivalency ?exhaustive ?examples: ?biological sex (male vs female) ?heart attack (yes vs no) ?Ordinal ?three rules: ?mutually exclusive ?logical ordering of categories (more of something) ?categorical balance ?examples: socio economic status ?(lower, middle, upper) ?education level ?(high school, college, graduate) ? letter grades ?(A, B, C, D, or F) ?Interval ?variable where the values of the categories are classified in a logical order that represents equal distances between the levels within each category ?there is no absolute zero ?examples: ?likert scale ?strongly disagree, disagree, neutral, agree, strongly agree ? semantic differential/bipolar adjective scale ? good/bad, dirty/clean, strong/weak ? guttman or scalogram rarely used in comm research ?to ascertain belief ?Ratio ?variable where the values of the categories are classified in a logical order that represents equal distances between the levels within each category with the presence of an absolute zero ?examples: ?temperature, age, height, weight ?mass, blood pressure, speed, heart rate CALCULATING †¢Mean †¢Median †¢Mode ?most frequently reported score ?Bimodal (2 different modes) ?No Mode Skewness ?positively skewed = tail runs to right of curve ?negatively skewed = tail runs to left of curve Kurtosis ?If Kurtosis is above 0, then distribution is peaked with short, thick tails If Kurtosis is below 0, then distribution is flat and has many cases in the tails Normal Distribution (Bell curve) ?mean, median, mode = same number = bell curve CALCULATING: ?Range ?distance between largest value (Xmax) smallest score (Xmin) ?range = Xmax Xmin ?Sum of Squares ?Variance ?the average distance of the scores for an internal or ration scale from the mean in squared units ?high variance = most of scores are away form the mean ?low variance = most scores are centered closely to the mean ?Standard Deviation ?summary statistic of how scores vary from the mean is expressed in the original units of measurement tells us on avg how far each score differs from the avg score ?why we care: ?for a study we might see a reported: (M=24. 5, SD = 2. 1) ? 68% between 22. 4-26. 6 ?95% between 20. 3-28. 7 Likert Scales ?one likert scale ordinal data ?multiple likert scales interval data ?strongly disagree-strongly agree Semantic Differential Scales ?determines differential/bipolar adjective ?one scale ordinal data ?multiple interval data Reliability ?accuracy that a measure has for producing stable, consistent measurements ?ex: does the watch work effectively? ?Tests for Reliability Test-retest ?same measure/different occasion ?Alternate ?different measure/same phenomenon ?Split-Half ?split to 2 groups/correlate scores ?Cronbach’s Alpha ?statistical test ?interpreting like grades ?a = excel lent, b = good, c = respectable, d =undesirable, f = unacceptable ? . 70 to get published ?Krippendorf’s Alpha ?Ways to improve reliability of an instrument ? item construction ?increase the length of the instrument ?improve the admin of the test Validity: ?degree to which the measuring instrument measures what it is intended to measure ? Types of Validity ?Face (content) Validity ?look at appearance of measure ?Criterion Validity ?look at how accurately new measure can predict well-accepted measures ? Construct Validity ?look at degree survey measures ?Threats to Validity ?Overlapping variables ?Measuring relationship satisfaction but actually measuring life satisfaction ? Interaction of Different Treatments ?intervening variable ?results form multiple treatments not from experiment ?ex: measuring improvement of public speaking in comm majors (its likely that other classes are contributing to success too) ? Interaction of Testing and Treatment ?when participants are sensitive or receptive to future measures of particular variable ? Hypothesis Guessing ?when participants guess what researcher is attempting to measure ? Evaluation Apprehension ?some individuals experience anxiety when they know they are being evaluated ? ex: white coat syndrome ?Experimenter Expectancies ?experimenter unknowingly influence a participants scores on a measure ? ex: accidentally telling the subject to quickly complete their measure (when they are measuring time as a ariable) ? Social Desirability Bias ?when participant changes a response to be seen in a better light ? ex: altering a survey response in case someone links the response to self Conducting Survey Research ?Prepare ?determine your question types (NOIR) ?use common sense putting survey together ?create clear instructions ?design your study ?complete pilot testing as needed ?Disseminate ?interview (face to face, telephone) ?self-administered ?mass a dministration ?mailed administration ?internet administration ?Improving Response Rates ?make survey easy to complete ?keep survey short use SASE (stamps envelopes to return) as needed ?include a good cover letter ?use multiple administration techniques Response Sets, Non-Response Bias Content Analysis ?a summarizing, quantitative analysis of messages ?conducting content analysis ?early stelps: ?theory rationale ?conceptualization ?operationalization ?detailed description ?unit of analysis: ?major phenomenon being analyzed within a study ? next steps: ?coding schemes (defined) ?sampling (determined) ?training pilot reliability Cohen’s kappa Coding Problems ?coding misinterpretations ?coder inattention ?coder fatigue We will write a custom essay sample on Comm 307 Study Guide specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Comm 307 Study Guide specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Comm 307 Study Guide specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Impact of Structural Adjustment on Economic Performance

Impact of Structural Adjustment on Economic Performance Free Online Research Papers THE IMPACT OF STRUCTURAL ADJUSTMENT ON ECONOMIC PERFORMANCE (CONTROL GROUP BEFORE AND AFTER ANALYSES) By Misbah Nosheen PhD scholar: Federal Urdu University of Arts Science Technology Islamabad Lecturer in Economics: International Islamic University Islamabad. Javed Iqbal PhD scholar: Federal Urdu University of Arts Science Technology Islamabad Research Officer: Economic Affair Division (EAD) Islamabad ABSTRACT Are adjustment policies helpful or hamper growth? This paper presents data on economic performance (aggregate and sectoral growth, inflation, investment and external account) for 8 countries. The data are classified on an annual basis according to the country’s policy stance in that year: weak reformers, moderate reformers and strong reformers. This approach allows both control-group and before and after analyses. The evidence suggests three hypotheses. First, countries with weak reforms have performed betterly in comparison with those that have moved to greater market orientation. Countries ranked with a policy score of 1 perform well on all indicators, other than investment growth and export growth, than those with scores of 3. Second, economic performance does not differ greatly between moderate and strong ones. But in case of inflation there is a significant difference between group 2 and group 3. The third hypothesis follows from noting that there is little difference in agricultural growth, manufacturing growth and overall growth among 3 groups. It is surprising that manufacturing growth is greater in case of weak reforms. New prescriptive ideas on reforms have tended to be realistic, emphasizing that reforms need to be modified to country circumstances. 1. INTRODUCTION During the 1990s there were intense changes in the national policy environment in many less developed countries. These changes were mainly brought about within the framework of structural adjustment programmes guided by the International Monetary Fund and the World Bank. The process began in early 1980s with the Bank structural adjustment loans. Yet there is a question as to the economic impact of these policies: specifically do they support or hinder growth as compared with the pre reform situation? To this end, paper presents evidence from 8 developing countries. As explained earlier data were collected on macro-economic variables and classified on an annual basis according to the country’s policy stance in that particular year. The focus of this paper is on isolating the economic impact of economic reform. These data were used for control group comparisons and to do before and after analysis. Section 2 begins with an overview of policy reform in developing countries before moving in Section 3 to a presentation of the results dealing with overall growth, inflation, investment and sectoral growth in agriculture and manufacturing. Section 4 concludes on the suitable design of adjustment. 2. POLICY REFORM IN DEVELOPING COUNTRIES: AN OVERVIEW The term adjustment in the discussion of international development agencies refers to a set of economic reforms that nudge the economy toward market based development. Specifically they aim to achieve internal and external balance by reduction of the fiscal and trade deficits, trade liberalization and export expansions as opposed to import substitutions. During the last more than two decades almost all developing countries have taken steps toward economic liberalization achieving the stated policy objectives. But these changes have resulted in different outcomes. It is instructive in this context to refer to an analysis of six African countries, Engberg-Pedersen et al. (1996) who distinguish three stages of adjustment: (1) stabilisation, agricultural price reform and some trade liberalisation; (2) internal trade liberalisation, investment promotion and social dimensions of adjustment; and (3) public sector reform, beginning with the banking sector and civil service, and social expend iture rationalisation. The experience of the 8 countries shows that there are divergences in the experiences of economic policy reforms with respect to the pre assigned target variables. The main push for reforms has begun at different times in these countries; but all of them have undertaken market based reforms during the last more than two and a half of decades. It is certainly the case that tariff reforms and agricultural price liberalization have been spearheaded the reforms; along with some change in exchange rate policy. Experience with stabilisation has not so uniform for instance, stablisation in many cases has been attempted at the outset of adjustment but not always successfully. Most frequently, it has been turned out to be more of a problem than a solution of the problem. Indeed, this unpleasant experience has forced the IMF to deemphasize this aspect to spearhead structural reforms. It is certainly the case that privatisation and public sector reform come at the tail end of the reforms and ha ve not been carried out in all countries (especially public sector reform). The practice of trade liberalization and market-oriented economic reform that had launched in many developing countries in early 1980s intensified in the 1990s. The reform undertaken varied in ownership and contents in different countries. The reforming countries can be divided into three groups. The first group consists of a number of countries in East Asia which continued their own dynamic industrial and trade policies initiated in 1960s. The second group includes a large number of countries, mostly in Africa and Asia, which have gone through the reform programmes designed and dictated by the IFIs. The third group comprises a number of Latin American countries that undertook economic reform since early 1980s, initially under pressure from international financial institutions. Nevertheless, in 1990s they intensified the reform process without having been necessarily under pressure of those institutions in all cases. The contents and philosophy of their reform programmes were, howeve r, similar to those designed by the international financial institutions which in turn have been referred to as the â€Å"Washington Consensus† since the early 1990s. Universal and uniform trade liberalization was a part of the Washington Consensus. The term Universal implies that all developing countries are to follow the same trade policy regime i.e they are required to liberalize trade and capital flows irrespective of their levels of development and industrial capacities. The term Uniform implies that all sectors and industries are to be subject to the same tariff rates i.e, preferably a zero rate, or a very low rate. Apart from trade liberalization, such reform programmes included mainly: capital account liberalization, devaluation at the early stages of reform to compensate for trade liberalization, fiscal and financial reform through contractionary macroeconomic policies such as budget cuts, increase in interest rates and privatization. As for the timing of reform, there seems to be something of a regional pattern to it, although with significant exceptions. Asian countries began reform earlier (Sri Lanka in 1977, Bangladesh, India and Pakistan relaxed controls somewhat in the 1980s, although in all cases more intensive reform began in 1991). â€Å"Policy scores† have been based on the degree of reform of the exchange rate, trade, price policy, finance, fiscal policy, private sector development, privatization and public sector undertaking by different countries. The score 1 is corresponding to weak reform, 2 to moderate reform and 3 to strong reform for each country. Figure 1 shows the average score across the 8 countries since 1980, giving a strong graphical evidence of the world trend towards reform. There has been a continuous increase in the average policy score, with a sharp incline in 1990 and 1991, when several countries intensified their reform efforts. It may be noted that a higher score means that it has become more market oriented; whether or not it has assured better growth and lower poverty remains to be analyzed in the present study. Figure: 1 Average Policy Score for 8 Countries Table: 1 Aid Per Capita ($ Per Person) by Policy Score (1980-2007) 1 2 3 Mean 10.204 8.739 8.239 Median 10.449 2.0741 3.787 Standard deviation 6.155 11.469 11.841 No of observations 19 55 150 Source: Calculated by author Table: 2 Before and After Comparisons of Aid Per Capita ($ Per Person) (1980-2007) Country Before reforms After reforms Mean Median Stand Dev Mean Median Stand Dev Argentina 2.061 1.598 1.305 3.839 2.867 2.119 Bangladesh 15.331 15.499 2.679 10.941 10.204 3.012 Brazil 1.317 1.282 0.477 1.068 1.131 0.736 Chile -0.431 -0.639 0.499 6.527 7.075 3.965 India 2.353 2.277 0.407 1.651 1.609 0.677 Pakistan 10.272 9.645 2.350 8.826 7.999 3.132 Sri Lanka 31.659 29.560 5.563 33.673 30.536 17.483 Venezuela 0.865 0.884 0.194 2.035 1.854 0.796 Source: Calculated by author This section will often compare indicators for countries with different policy scores. Table 1 provides the example of aid per capita given to the sample countries. Aid per capita dealings the net official development assistance (net of repayment of principal) available per person in each country receiving foreign aid. Data are specified in current U.S. dollars per person . The averages (both mean and median) shown here have been calculated across all available observations, so a country can enter the data set up to 28 times (the data cover 1980-2007) though, of course, it will appear in a different column depending on its policy score for that year. It may be surprising that average aid is higher for 1 than for 2 and 3. This result is partly explained by the fact that bilateral conditionality came in during the 1980s, so that poor performers could still get high aid in the early part of the decade. But once conditionality started, many of the home grown reform efforts were not rewarded by the international community. Aid flows only resumed once an International Financial Institution (IFI)-backed programme was started. Table 2 shows the before and after analysis of aid per capita. It presents more or less the same picture as shown by table 1. 3. ECONOMIC IMPACT OF ADJUSTMENT POLICIES BY KEY VARIABLES 3.1 Overview Table 3 presents a summary of the main results from the control group analyses, which are explored in more detail below. I have suggested three hypotheses. First, countries with weak reforms have performed better in comparison with those that have moved to greater market orientation. As compare to countries with score of 3, than with a policy score of 1 perform well on all indicators, other than investment growth and export growth. Second, economic performance does not differ greatly between moderate reformers (score 2) and strong reformers (within score of 1) ones. But in case of inflation there is a significant difference between group 2 and group 3. This finding is partly explained by the fact that some countries which have carried out quite far-reaching reforms have seen only insignificant impact on their growth rates but a greater impact on their inflation. The third hypothesis follows from noting that there is not much difference in agricultural growth, manufacturing growth and overall growth among 3 groups. It is not surprising but may be important that manufacturing growth is greater in case of weak reforms. Table: 3 Summary of Control Group Analysis by Types of Reformers (1980-2007)(Median Scores) 1 2 3 Growth 5.181 4.141 5.123 Inflation 26.536 10.726 93.801 Investment rate 18.482 21.094 21,656 Export growth 3.601 5.203 7.832 Agricultural growth 3.658 2.609 3,167 Manufacturing growth 7.033 4.661 5.259 Source: Calculated by author 3.2 Growth The data presented in Table 3 show that growth performance has been weaker the greater the degree of reform in the control countries. Moreover, the results are the same. Countries with policy score 3 perform significantly better than moderate reformers: the t-statistic for the difference in means between 3 and 2 is 2.537 and that for 3 and 1 is 0.721. So there is no significant difference in growth performance between weak and strong reformers. Table: 4 Control Group Analysis of Real GDP Growth by Type of Reformers (1980 to 2007) 1 2 3 Mean 5.344 2.810 4.591 Median 5.181 4.141 5.123 Standard deviation 2.218 4.411 4.467 No of Observations 19 55 150 Source: Calculated by author The data in Tables 3 and 4 are simple control group comparisons; we are comparing various degrees of adjustment (between different countries and different periods for the same country) without any reference to other factors. Table 5 presents a before-and-after analysis, which does control for country specific, but not other, factors. Chile is experiencing stronger growth with reform. Argentina and Venezuela have a moderate reforme growth. Brazil has declined in growth (relatively). The South Asian countries Bangladesh, India, Pakistan and Sri Lanka have all maintained comparable growth rates regardless of policy stance; indeed they are lower in the case of Pakistan. In case of India, Sri Lanka and Bangladesh it has improved upon with reforms. Thus it seems that some countries have experienced growth with reform, whereas others have not. Table: 5 Before and After Growth Performance (Growth of Real GDP per Annum) (1980-2007) Country Before reforms After reforms Mean Median Stand Dev Mean Median Stand Dev Argentina 0.026 2.212 5.346 4.076 5.836 7.639 Bangladesh 3.465 3.732 1.444 5.124 5.228 0.776 Brazil 2.954 3.600 5.042 2.207 2.439 2.357 Chile 1.350 4.737 8.127 6.116 6.352 2.860 India 5.887 5.809 1.739 6.599 7.129 2.681 Pakistan 6.646 6.538 1.665 4.751 4.847 2.377 Sri Lanka 4.350 4.814 1.553 4.946 5.362 1.918 Venezuela 0.770 0.193 3.937 2.962 3.687 7.462 Source: Calculated by author 3.3 Inflation Stabilisation is considered a pre-requisite for growth, as high levels of inflation create uncertainty by confusing price signals. An important focus of the stabilization programme is to bring the rate of inflation under check. Most studies find that inflation has been brought down when stabilisation has been pursued. As shown in Table 3, this view is not supposed by the experience of our sample of 8 countries. Median inflation in strong reforming countries is more than three times greater than that in weak reforming ones and it is more than two times in weak reforms as compared with moderate reform ones. The region of Latin America has a history of fiscal wastefulness, in which deficits were covered by printing money resulting in high inflation, and in extreme cases, hyperinflation or by tapping financial markets, leading to exploding debt ratios, often ending in debt crises. Despite a fall in aid during the 1990s, inflation in Bangladesh dropped from double to single digits because of a reduction in the budget deficit resulting from a rise in tax revenue and increased foreign financing. First, there was a devaluation of the exchange rate, which was then fixed, and wage and price controls were maintained in order to ‘break inflationary expectations’. Increases in some prices however, led to a gradual appreciation and overvaluation. In the wake of further devaluation in 1993 inflation increased and can be seen to have followed closely the rate of nominal devaluation. Table 6 represents the control group analysis of inflation. Results show that inflation has been higher as the degrees of reform proceed. Table 7 shows completely the sane picture. Table: 6 Control Group Analysis of Inflation (CPI) by Type of Reformers (1980 to 2007) 1 2 3 Mean 27.208 18.307 89.877 Median 26.536 10.726 93.802 Standard deviation 8.025 19.815 51.690 No of Observations 19 55 150 Source: Calculated by author Table: 7 Before and After Comparisons of Inflation [CPI (2000=100)] (1980-2007) Country Before reforms After reforms Mean Median Stand Dev Mean Median Stand Dev Argentina 0.005 0.000 0.011 103.939 100.670 42.792 Bangladesh 41.543 41.598 12.400 97.840 97.839 26.100 Brazil 0.000 0.000 0.000 81.179 89.091 58.763 Chile 9.216 8.427 2.572 74.811 83.534 34.525 India 29.164 28.084 7.864 91.446 96.145 26.567 Pakistan 30.259 29.890 6.204 92.915 95.816 29.140 Sri Lanka 23.409 22.098 8.131 101.405 94.183 41.592 Venezuela 0.577 0.510 0.228 96.141 69.638 97.311 Source: Calculated by author Table 7 presents before and after comparisons of inflation. It shows that all the sampling countries have experienced higher inflation after reforms. In case of Latin American countries (Argentina, Brazil and Venezuela) the condition is severe. 3.4 Investment The role of investment in promoting economic growth has received considerable attention in many countries around the world. The link between investment and growth is well established. The early Domar-Harrod models specified investment as the key to promoting economic growth. The data from the countries studied shows that the investment rate gets higher with increased degrees of reforms. Based on both the mean and the median, the investment rate appears to be about 19 per cent in weak reformers and a little over 21 per cent in moderate reformers and this difference is insignificant as t value is 1.517. But the difference between weak and strong reformers is significant with t value 2.445. Table 9 shows a really very mixed picture comparing before and after reforms. Bangladesh, Chile and India have significantly improved their investment growth with reforms. Argentina, Sri Lanka and Venezuela have declined in their investment growth as reform process moves on. Brazil has a slight impro vement while Pakistan works with almost same investment rate from weak to strong reform process. Table: 8 Simple Control group comparisons for investment rate (Per cent of GNP) by Type of Reformers (1980 to 2007) 1 2 3 Mean 19.234 20.903 21.901 Median 18.482 21.094 21.656 Standard deviation 4.032 4.164 4.532 No of observations 19 55 150 Source: Calculated by author Table: 9 Before and after comparisons of investment rate (per cent of GNP) (1980-2007) Country Before reforms After reforms Mean Median Stand Dev Mean Median Stand Dev Argentina 20.422 19.964 2.536 18.118 18.014 3.875 Bangladesh 16.536 16.701 0.921 21.541 22.193 2.819 Brazil 20.363 21.094 2.829 21.047 21.118 1.268 Chile 15.706 13.677 5.811 23.368 22.991 2.682 India 22.222 22.410 1.743 26.544 24.777 5.438 Pakistan 18.698 18.774 0.383 17.920 17.375 1.401 Sri Lanka 25.749 23.660 4.005 25.307 25.136 2.527 Venezuela 22.430 24.425 5.258 21.246 21.485 5.817 Source: Calculated by author 3.5 External Account and Debt Trade liberalisation measures cover exchange rate liberalisation (usually devaluation), the reform of the system of distributing foreign exchange, liberalisation of domestic factor markets, import liberalisation and moves from non-tariff restrictions towards tariffs. All these are designed to create incentives by improving the profitability of tradables relative to non-tradables, thus rewarding exporters and punishing importers. Caballero and Pangeas (2006) calculate that for a country like Chile, with good fundamentals, hedging the probability of suffering a sudden stop the debt flow can be equivalent to a reduction in the stock of debt of 10 percentage points of GDP. However, IDB (2007) shows that the benefit of debt reduction varies by country, depending on the current stock of debt and the quality of policies and institutions. They show recent empirical estimates that have found a non-linear relationship between external debt levels and growth levels of debt appear to be beneficial for growth up to a point, and then the correlation turns negative. The problem is that estimates for this turning point range between 10 and 60% of GDP. In addition, Imbs and Ranciere (2005) find that the threshold level at which debt becomes negative for growth is higher for countries with better institutions. To make an optimistic calculation, assume that Latin American countries are in the negative coefficient territory of the above non-linear relationship between debt and growth, so reducing debt would be beneficial – a not too unreasonable assumption, given an average level of external debt to GDP of almost 50% in 2004, excluding Argentina and Nicaragua that were above 110%. Following IDB (2007), this would mean that a 10 percentage point reduction in the debt / GDP ratio could generate a growth benefit of around 0.8 percentage points per year. However, the shakiness of this estimate cannot be stressed enough (Miguel Braun, 2007). Table: 10 Control Group Analysis of Current Account Deficit (As percentage of GDP) by Type of Reformers (1980 to 2007) 1 2 3 Mean -2.318 -2.999 -1.594 Median -2.428 -2.791 -2.424 Standard deviation 1.337 1.984 3.457 No of Observations 19 55 150 Source: Calculated by author Table: 11 Before and After Comparisons of Current Account Deficit (As percentage of GDP) (1980-2007) Country Before reforms After reforms Mean Median Stand Dev Mean Median Stand Dev Argentina -3.244 -2.791 1.829 -0.105 -1.703 4.068 Bangladesh -2.457 -2.428 1.502 -0.237 -0.080 1.040 Brazil -2.267 -1.981 2.600 -1.084 -0.356 2.403 Chile -9.548 -9.466 3.446 -2.357 -1.604 2.433 India -1.667 -1.822 0.549 0.037 -0.685 1.657 Pakistan -2.855 -3.331 1.261 -1.296 -2.742 3.731 Sri Lanka -7.321 -6.511 4.319 -3.443 -3.229 2.057 Venezuela 1.075 5.298 6.657 6.629 5.128 7.198 Source: Calculated by author Analysis of the external account is made difficult by the fact that reform efforts are often accompanied by an aid inflow, which necessarily worsens the current account. Nonetheless, we find a significant improvement in the current accounts of reforming countries compared to weak reformers. These results suggest that there may have been some improvement in exports and this is indeed shown by data on export performance (Tables 12 and 13). Table: 12 Simple Control group comparisons for Export Growth by Type of Reformers (1980 to 2007) 1 2 3 Mean 6.229 5.886 8.281 Median 3.601 5.204 7.832 Standard deviation 10.026 10.618 7.802 No of observations 19 55 150 Source: Calculated by author Table: 13 Before and after real export growth (1980-2007) Country Before reforms After reforms Mean Median Stand Dev Mean Median Stand Dev Argentina 2.725 2.583 9.524 8.246 7.647 7.088 Bangladesh 7.167 7.899 9.510 11.655 13.222 8.506 Brazil 11.088 14.332 12.912 8.160 9.250 5.626 Chile 3.476 4.716 8.498 8.801 8.148 3.512 India 5.933 7.250 6.108 13.251 13.782 9.987 Pakistan 9.789 11.990 13.201 7.765 7.573 11.317 Sri Lanka 5.954 4.999 3.359 6.638 6.263 5.307 Venezuela -0.850 -3.101 10.175 2.664 5.754 8.857 Source: Calculated by author Exports analysis of average real export growth across the 8 countries since 1980 given in Table 12 shows that export growth performance is significantly stronger the greater the degree of reform across the sample as a whole. The t-statistic at the 20 per cent level for the difference in means between 2 and 3 is 1.75 but that for 1 and 2 is 0.123. The country-specific comparisons of export growth in periods of before and after comparisions, gives a clear picture. For 6 of the countries (Argentina, Bangladesh, Chile, India, Sri Lanka and Venezuela) export growth appears to be greater during periods of after reform than during before reform. Indias main success in trade reform has been in the area of tariffs. In 1990-91, the unweighted average tariff was 125 per cent. That figure came down to 71 percent in 1993-94. The peak tariff rate in 1990 was an unbelievably high 355 percent. The peak rate in 1993-94 came down to 85 per cent. In 1995 the highest rate of tariff was further reduced t o 50 percent and it was only 18 percent in 2004. Moreover Export promotion schemes are also being pursued with more than usual vigor. Only Brazil and Pakistan exhibit Weak export growth rates during periods of strong reform than when reform is not being adopted. A main argument of this review is that the control regime resulted in bad performance, but while the evidence that market-based reform is the best alternative is sufficient, this is so in relation to export performance. Control group analyses e.g. Adjustment in Africa (World Bank 1994) and Kirkpatrick and Weiss (1995) find that countries engaging in macro-economic policy reform, and in particular trade liberalisation, experience faster growth in real exports. And these simple control-group analyses can in fact adequately control for other factors, and so the results can clearly demonstrate the positive impact of reforms. The case studies also find positive effects. Husain and Faruqee (1994) report strong export growth in the case studies in the companion volume, despite declining terms of trade, and all but Burundi have achieved some success in diversification. On the other hand, Sahn et al. (1994) find mixed results from the case studies where reforms have been implemented. On the other hand the picture is far less positive with respect to debt, the debt burden having increased in many countries. Large aid inflows have tended to increase the debt burden rather than reduce it; although bilateral aid is virtually all grant aid, the substantial inflows from the international financial institutions are not. Table 14 shows that the total debt burden has risen in all countries. Table: 14 Total long-term debt (Period average, US$ billions) 1980-84 1985-89 1990-94 1995-99 2000-04 2005-06 Argentina 27.8992 48.2506 52.7302 91.8722 122.336 78.28317 Bangladesh 4.20178 8.40382 12.926 14.9476 16.7164 18.09767 Brazil 74.053 97.0186 104.9232 170.548 189.608 158.4533 Chile 13.5523 16.7214 15.7376 23.9212 34.4018 38.785 India 21.941 46.7864 81.2144 89.6896 103.394 116.935 Pakistan 9.2423 12.9838 19.9136 27.2814 30.619 30.72017 Sri Lanka 1.83248 3.8743 5.9005 7.71406 8.90006 10.27893 Venezuela 19.54 29.6404 29.4056 31.5568 30.751 34.592 Source: World Development Indicators 4 Economic Impact of Adjustment Policies: By Key Sectors 4.1 Agricultural Supply Response Economic performance at the sectoral level, particularly in agriculture and industry, is crucial to success of the economy in coping with changing economic circumstances brought about by macro-economic reform. There is also a gender aspect to this analysis since in many low-income countries, particularly in South Asia, women are responsible for the vast majority of agricultural labour. The impact of adjustment policies on agriculture is therefore an issue of great importance for gender relations and a proper analysis and appreciation of gender relations should inform the design of agricultural policy. Historically, developing countries have tended to tax their agricultural sectors through trade and pricing policies, often to keep food prices low for the benefit of the urban population and to generate export tax revenue. Schiff and Valdes (1992) have shown that these policies have resulted in a slowdown in agricultural sector growth and in overall economic growth, with industrial and macro-economic policies often having a greater impact than more direct, sector-specific measures. Table: 15 Average growth of real agricultural value added by Type of Reformers (1980 to 2007) 1 2 3 Mean 3.894 2.658 3.339 Median 3.658 2.608 3.166 Standard deviation 4.171 4.707 4.179 No of Observations 19 55 150 Source: Calculated by author One of the objectives behind adjustment is to reduce the level of indirect taxation of agriculture through trade liberalisation and removing price controls. The success or failure of orthodox adjustment programmes could be said to center on the supply response of agriculture to adjustment measures given the significance of agriculture in these economies for exports, domestic food supply and hence for inflation. Measures such as currency devaluation, reduced export taxes and lower input prices (through reduced domestic industrial protection, although a countervailing effect can come from the removal of subsidies) have attempted to increase the relative prices and profitability of agricultural and other tradable goods. Table 15 gives an analysis of average growth of real agricultural value added across the countries. From the results shown, it is evident that there is no significant difference in growth rates between weak reform, moderate and strong reform periods. Looking at the country specific results in Table 16 Brazil, India, Pakistan, Sri Lanka and, Venezuela exhibit strongest growth rates in real agricultural value added during periods of before reform. For Argentina, Bangladesh and Chile the strongest the reform implementation the greatest the rate of growth. Table: 16 Before and after comparisons of growth of real agricultural value added (1980-2007) Country Before reforms After reforms Mean Median Stand Dev Mean Median Stand Dev Argentina 0.973 0.167 4.068 3.052 4.097 4.846 Bangladesh 2.322 1.013 3.018 2.891 2.530 1.932 Brazil 4.175 3.370 7.055 3.263 4.100 2.763 Chile 2.292 3.786 4.110 5.286 6.248 4.944 India 4.396 1.483 5.801 2.698 2.448 4.551 Pakistan 4.303 4.405 3.841 3.901 4.567 4.170 Sri Lanka 2.925 2.629 4.348 1.339 1.900 2.608 Venezuela 3.631 3.976 3.948 2.715 2.022 5.282 Source: Calculated by author 4.2 Manufacturing Performance under Adjustment Pre-adjustment policies gave support to a heavily protected manufacturing sector, much of which was in state hands, through heavy tariffs, sometimes so high as to allow the firm a domestic monopoly, and both direct and implicit subsidies, such as receiving foreign exchange allocations at overvalued exchange rates. In general, state-owned firms faced a soft budget constraint. As adjustment is about achieving a more efficient allocation of resources, the process should entail moving resources out of such activities, i.e. a reduction of output and employment. Table: 17 Control group comparison of policy impact on manufacturing growth by Type of Reformers (1980 to 2007) 1 2 3 Mean 6.436 3.266 18462. Median 7.033 4.662 5.258 Standard deviation 3.727 6.385 226066.5 No of Observations 19 55 150 Source: Calculated by author The results of the analysis are presented in Tables 17 and 18. Table 17 reports the simple mean and median values of manufacturing growth in the countries using the classification by policy episodes described earlier. At first glance these results appear to lend support to the view that market-based reforms in fact have has a negative impact on manufacturing growth. A more mixed picture emerges from the country-level before and after analysis in Table 18. Countries with a positive message: Bangladesh (where growth has come from liberalization permitting rapid growth in textiles, rather than successful restructuring of the old state owned sector), Sri Lanka be added to this list, having had high growth throughout the period, which may be characterised by an increasingly liberal regime. It is important that the period under study is characterized by widespread trade and financial reforms in Latin America, to which the manufacturing sector responded by promoting cost reduction strategies in order to maintain some degree of competitiveness. These strategies in most cases involved cuts in employment levels, and this can cause an upward bias in the levels of labor productivity. Second, it is important to stress that there is a large degree of heterogeneity in the national experiences across the countries in the sample. In most of the cases, the shares of manufactures in GDP and exports have declined over the last two decades, in favor of agriculture (Argentina) or mining/oil (Venezuela). In some countries the patterns of specialization remained fairly stable. Table: 18 Before and After Comparisons of Manufacturing Growth (1980-2007) Country Before reforms After reforms Mean Median Stand Dev Mean Median Stand Dev Argentina -1.144 -2.685 7.593 2.758 4.645 8.307 Bangladesh 4.667 4.373 2.985 10.941 10.204 3.012 Brazil 1.783 0.946 7.451 145724.200 1.700 635193.000 Chile 0.127 3.096 12.132 4.958 5.241 3.565 India 6.942 6.959 3.060 1.651 1.609 0.677 Pakistan 8.400 7.885 2.649 8.826 7.999 3.132 Sri Lanka 5.714 5.184 3.432 33.673 30.536 17.483 Venezuela 2.323 3.432 3.998 2.035 1.854 0.796 Source: Calculated by author In several countries (Bangladesh and Sri Lanka) industrial growth has been partly based on the creation of new enterprises in more labor intensive sectors rather than successful restructuring of existing enterprises, though there has been some of that in the Sri Lankan case. 4. CONCLUDING REMARKS In this paper market-oriented policy reform has taken place in the 8 countries under consideration. Have these changes had beneficial effects on economic performance is the question to be investigated in this paper? For a very large number of indicators reviewed, performance has been better in reforming economies in some cases while it is unsatisfactory in others. Although there are deficiencies in both control-group and before and after analysis, these results are both strong and consistent, suggesting that there is something going on here. But care must be exercised in deciding what that something is. This paper has a few important findings to report. First, in spite of problems of implementation, many less developed countries of South Asia and Latin America have undertaken significant policy reforms during the 1990s, particularly trade liberalization, pricing and marketing reform, and the creation of a policy regime favorable to foreign direct investment. The national policy environment at the end of the 1990s in many less developed countries is thus very different from maintaining a given level of net transfers to a country involved high transaction costs associated with the continual negotiation of the proportion of scheduled debt payments to be serviced from the country’s own resources that at the end of the 1980s. It has moved decisively in the direction of economic liberalization. Second the impact of economic reforms in South Asia on the policy environment presents a mixed picture. The industrial and trade policy reforms have gone far, though they need to be supplemented by labor market reforms which are a critical missing link. The logic of liberalization also needs to be extended to agriculture, where numerous restrictions remain in place. Reforms aimed at encouraging private investment in infrastructure have worked in some areas but not in others. The complexity of the problems in this area has been underestimated, especially in the power sector. This has now been recognized and policies are being reshaped accordingly. Progress has been made in several areas of financial sector reforms, though some of the critical issues relating to government ownership of the banks remain to be addressed. However, the outcome in the fiscal area shows a worse situation at the date than at the start. Thirdly, our results would also support a case for more extensive structural and institutional reforms that is, for broadening the scope of reform because pushing macroeconomic reforms to the levels of performance achieved in the faster- growing. The policy debates triggered by the crises and lagging economic performance in Latin America have not produced a clear â€Å"winner,† much less a new consensus. In this regard, they differ from the debates of the 1980s, which led to the â€Å"Washington consensus,† a set of policy prescriptions that was widely supported by policymakers and economists both in the region and outside. Most economists and policymakers including many that continue to believe that stabilization and liberalization were the right policy prescriptions in the 1980s and early 1990s will now take the view that the â€Å"Washington consensus† agenda needs to be either augmented or replaced. Finally, new prescriptive ideas on reforms have tended to be realistic, emphasizing that reforms need to be modified to country circumstances. For example, the work on â€Å"Politics of Policies† sponsored by the Inter-American Development Bank starts with the premise that weak institutions are a common problem in Latin America, but argues that the solutions might be quite different across countries, depending on the â€Å"political game† that is currently in place. 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