MacBeth Essays (448 words) - Characters In Macbeth,

MacBeth Macbeth Historical MacBeth compared to Shakespeare's MacBeth Although most of Shakespeare's play " MacBeth " is not historically accurate, MacBeth's life is the subject of the tragedy. There are characters and events that are based on true events and real persons but, Shakespeare's "MacBeth " differs significantly from history's MacBeth. The first example of a difference between the Shakespeare "MacBeth" and historical MacBeth is the death of Duncan I. In Shakespeare's " MacBeth ", Duncan I was murdered by MacBeth. A prophecy said to MacBeth by one of the three witches "All hail, MacBeth, that shalt be King hereafter1 ." was what prompted Gruoch, MacBeth's wife to plot the murder of Duncan I as he slept in their castle. In history, MacBeth established himself as the King of Scots after killing his cousin Duncan I, in battle near Elgin not as in Shakespeare's play by killing him in his sleep. Duncan I was killed on August 14, 1040. MacBeth then reigned as king for seventeen years. As previously stated Duncan I and MacBeth were cousins, a fact not brought out in the play. Shakespeare loosely based the play," MacBeth " on events he found in Raphael Holinshed's Chronicles of England, Scotland, and Ireland. " Raphael Holinshed's Chronicles of England, Scotland, and Ireland, are the materials that furnished Shakespeare with his plot2. The chronicles were an account of the history of the country of which they came from. Another major difference, is that Duncan I was not the ageing and respected king Shakespeare makes him out to be, In real life, Fiona Summerset Fry author of History of Scotland says " He was actually an impetuous and spoilt young man whose six years of kingship brought glory neither to Scotland nor to his family3." In the play's last scene, McDuff kills MacBeth and automatically becomes the new King of Scots. In actual history MacBeth is killed by Malcom III but Lulach, MacBeth's stepson, becomes the king after the noblemen of Moray fight for his succession. Lulach reigned for seven months and was then dethroned by Malcom III of Caenmore. MacBeth is presented in the play as clumsy and unorganised. In reality though, he was one of the best kings that Scotland ever had. " During his reign, he went on a pilgrimage to Rome for several months4." His kingdom was in well enough order and he was in high enough regard with his nobleman that he could leave for a long period of time. Another way you could tell that MacBeth was a good king because, " He organized troops of men to patrol the wilder countryside and enforce some type of law and order5." As far as historians know, this was the first type of law and order in Scotland before 1100. Shakespeare had financial and political motivation to change some of the historical facts. In order for him to receive payment for his writing it was necessary for him to impress King James I. Shakespeare also changed the name of his acting company to the " Kings men," because he wanted to establish himself as a better writer. He could do this by having the King's influence.

Capitol punishment misc9 essays

Capitol punishment misc9 essays The Argument Against the Death Penalty The feeling of the condemned man was indescribable, as he was minutes away from being executed by an unjust decision. The verdict of his case was guilty on the grounds of circumstantial evidence. When in all reality, he was guilty because he was black, poor and socially unacceptable. His case never stood a chance, it was over before it started. The judge and jury sentence the man to die in the electric chair. The condemned man sat in the chair sweating profusely, waiting for a someone to wake him from this nightmare. A certain death awaited this young mans future. He could not believe that a country like ours upheld a system of such unfairness. Then as he was executed, he shouted his last plea, I am innocent, please wait... How can this innocent man be put to death in a system based on fairness, and a theory of innocent until proven guilty. There have been circumstances such as this, that were said to be true. This is one example why capital punishment should be abolished in our country. Or should it? Is capital punishment fair, and based on equality? Does it cost less than other alternatives? Is it considered cruel and unusual punishment? And does the presence of the death penalty deter crime? These are questions that need to be answered to determine whether capital punishment should be abolished or maintained in our society. To start, capital punishment is a racist and unfair solution for the criminals in our system. It discriminates toward individuals on the basis of their race, wealth or social standing in society. It is not right to kill nineteen men a year out of hundreds and hundreds of convicted murderers. These men are not being killed because they committed murder. They are being killed because they are poor, black, ugly or all of these things. As capital punishment becomes less and less likely to be applied, it becomes more likely to be used ...

Contract Law Essay Example | Topics and Well Written Essays - 2000 words

Contract Law - Essay Example In some cases, it occurs that an individual fraudulently represents themselves to the other party as the owner of goods of another identifiable person. The law on the cases relating to such kind of conducts euphemistically describe them as cases of â€Å"mistaken identity†. However, such a description is often insufficient and unsatisfactory. A considerable number of judges are reported saying that the United Kingdom law is in a â€Å"sorry condition â€Å"regarding this legal aspect and that it is only the Parliament or the Lordship House that can remedy the situation.3 This paper focuses on these arguments by analyzing a case law, legal issues involved in it, and the legal issues involved in the case. Particularly, the paper will focus on Shogun Finance Ltd v Hudson [2003] UKHL 62 and the legal issues involved in the situation described by Lord Nicholls of Birkenhead. The law of contract describes a mistake as a belief erroneously created in a contract that specific facts relating to all or some parts of the contract are true whereas they are not. Usually, if such a mistake is found to exist in a contract, then that particular contract is rendered void.4 Lord Denning, in the case of Lewis v Avery held that a contract can be void if the plaintiff can prove that at the time of entering the agreement, he or she had believed that the identity of the defendant (the other party) was of critical importance because a plain belief is not adequate.5 The common law has identified only three forms of mistakes that can arise from a contract: the common mistake, the mutual mistake, and the unilateral mistake. From this identification it is clear that the mistake of identity does not exist. It is important to point out that none of the identified mistakes has adequately covered mistake of identity. This explains why there has been increasing concern regarding the description of the case by law as being unsatisfactory.6 A closer look of the case law shows that mista ken identity cases are few in number and do not occur in increasing frequency like the other types of mistakes. Nonetheless, this does not mean that mistaken identity is not a critical legal aspect in law of contract. As a matter of fact, mistaken identity cases are very crucial as they (just like other types of mistakes) amount to breach of contract if they occur and therefore it is important that it is addressed once and for all. Besides, a key objective of law is to achieve equity and justice. As such, failing to remedy the â€Å"sorry condition† of law covering mistaken identity cases will defeat the very of law as it may lead to unjust rulings.7 Often, cases of mistaken identity happen in simple contracts, that is, contracts formed without involvement of any legal formalities. Partnership agreements and sale of goods contract mostly take the dimension of simple contracts. Sales of goods are the most prone and mistaken identity cases frequently arise from sale of goods co ntract. The principle of nemo dat non quod habet forms the major interplay in the mistaken identity cases. This principle is a fundamental legal axiom that implies â€Å"no one [can] give what one does not have† and that â€Å"a person can only give as good a title as one possesses†

The Lifecycle of the Orca Essay Example | Topics and Well Written Essays - 1750 words

The Lifecycle of the Orca - Essay Example At the beginning, the animals were referred to as killers of whale but later the name was changed to killer whales (King 4). We chose orcas because we wanted to learn more about their lifecycle considering that the animals are among the most highly socialized animals in the world. In addition, we wanted to find out how human activities threaten the life of the orcas particularly in the wild. This paper will discuss the biological lifecycle of orcas, how orcas interact with the environment and each other throughout their lifecycle, and how human beings affect the lifecycle of orcas. General Characteristics Orcas belong to the Kingdom Animalia, Class mammalian, order Cetacea, suborder Odoceti, Family Delphinidae, Genus Orcinus and Species orca (Northwest Regional Office [NRO]). They are well adapted to live in various environments and so they inhabit all oceans though they have a preference for cooler regions and coastal regions. They are highly social where they live in form of family groups that are known as pods with each pod consisting of 3 to 25 orcas (NRO). In addition, orcas hunt in groups and in a coordinated manner that is considered similar to the wolves. The family groups usually trace their origin to the mother’s side which means that they are matrilineal. Orcas are distinctively colored with patches of black and white which is an adaptation feature that makes it a deadly predator as the coloring makes it hard for preys to consider it dangerous (NRO). When it comes to size and weight, orcas can be as long as 10 meters and can weigh as heavy as 8164 kilograms (NRO). The senses of orcas are well developed with each pod having its distinct sound which is passed from generation to generation and it is believed to be a manifestation of culture (Ivkovich et al. n.pag.). Their diet is usually very varied and it consists of squids, penguins, sea lions, dolphins, whales, and tortoises (NRO). Literature Review Biological Lifecycle Reproduction and Mating Most of the information that is known about the reproduction of orcas has been gathered from studies carried out in zoological parks where the animals are kept in captivity. Sea World has the largest collection of orcas. From the observations carried out there, it has been found out that the female orcas reach sexual maturity at the age of 6 to 10 years while the male orcas reach sexual maturity at the age of 10 to 13 years (Sea World). Female orcas are usually on heat several times in a year which means that they are polyestrous and they ovulate even in the absence of a male counterpart a characteristic that is very rare in mammals (Boran, Heimlich and Boran 28). Another thing is that the female orcas do not experience menstrual blood loss (Sea World). Both the male and female orcas are promiscuous where they mate with more than one partner (Sea World). It is important to note that the age at which mating starts varies depending on the situation where in captivity orcas start mati ng early but in the wild mating takes time to occur and this has been associated with a rigid social structure where the males have to wait until they are socially mature before they can start mating (Boran, Heimlich and Boran 28). It is believed that mating does not occur between members of the same pod as a way of avoiding incest (Boran, Heimlich and Boran 31). Birth and Care of the Young Ones Gestation takes approximately 15 to 18 months after which a single calf is born. Most of the time the calves are born tail first but in some rare occasions calves have been born head first. Female orcas can bear approximately five calves within a period of 25 years (Boran, Heimlich

Disaster Recovery Plan (Information Systems) Term Paper

Disaster Recovery Plan (Information Systems) - Term Paper Example Troubleshooting Plan’ hardly needs any over emphasis; particularly, when confronted with serious I T system problems which have the potential of bringing the entire operations to a grinding halt – a virtual disaster, which any organization can ill afford. The ultimate aim of this project is to protect the principal business functions and assets, and suggest a back up strategy to successfully bail out AU in the event of disasters. The project shall attempt to examine all the relevant issues connected with identifying all the assets of AU and the risks associated with them, together with their linkages in relation to a wide variety of likely disasters, concluding with the assembling of a disaster recovery team. This effort at compilation of a dynamic Disaster Recovery Plan is to address the pertinent issues by utilizing the famed â€Å"5 W’s & H ïÆ'   What, Where, Which, When, Who and How† approach, by providing convincing answers to the six core questions spread out in the six sections that follow! In an ever changing world, organizations should be wary of natural or manmade disasters that could disrupt business processes. Loss of customers apart, millions of dollars could go down the drain and never recovered if business processes are disrupted and IT systems do not recover fast enough to normalcy within the optimum response time. The Business Continuity Plan is intended to resume business processes whereas the restoration of the IT systems is by the Disaster Recovery Plan. The objective of the latter is to restore the operability of systems that support mission-critical and critical business processes to normal operation in the quickest time possible. Business continuity plan is an amalgam of the business resumption plan, incumbent emergency plan, incident management plan, continuity of operations plan, and disaster recovery plan, all rolled into one. The following treatise presents an overview of a disaster management recovery exercise. An asset is

Analysis and evaluation of the NHS

Analysis and evaluation of the NHS The National Health Service (NHS) provides healthcare for all UK citizens based on their need for healthcare rather than their ability to pay for it. NHS is funded by taxes. This report identifies the problem with NHS with problem solving tools and techniques. For finding this problem Casual Loop and BOT methodologies has been used. NATIONAL HEALTH SERVICE (NHS): On 5 July 1948, NHS was launched by Health Secretary Aneurin Bevan and for the first time health care became free to all UK citizen. In 1952, Patients started being charged for prescription. First mass vaccination programme for polio and diphtheria started in 1958. Before this, there were 8000 cases of polio and 70000 of diphtheria each year. In 1961, contraceptive pills were launched which gives women control over how many children they have. In 1962, Health Minister Enoch Powell put forward The Hospital Plan which set out a 10 year vision for hospital building. Every population of 125,000 was to get a hospital or district general hospital as they become known. In 1967 Abortion Act was passed by a free vote of MPs and introduced by Liberal MP David Steel which made abortion legal up to 28 weeks if a womans mental or physical health was at risk and further limit reduced to 24 weeks in 1990. In 1968, UKs first heart transplant surgery was carried out in the National Heart Hospital in London with 18 doctors and nurses operating a 45 year old man for seven hours. CT scanners were used for first time in 1972. CT scanners started to be used on patients through the development of the previous five years. CT scan machines take pictures of the body to develop 3D images, revolutionising investigations of the body. Worlds first test tube baby was born on 25 July 1978 before midnight in Oldham District General Hospital. To reduce breast cancer deaths in women over 50, breast screening was introduced in 1988 and along with improved drug treatment screening was estimated to have cut deaths by a fifth. In 1990 NHS and Community Care Act was introduced by the legislation which was known as the NHS internal market with health authorities given their own budgets to buy care for local populations from hospitals. In 1994 organ donor register created to co-ordinate supply and demand. It was the result of a five year campaign by John and Rosemary Cox whose son Peter died in 1989 and he had asked for his organs to be used to help others. In 2006, patients were given the choice of four or five hospitals, ending the long held tradition of going where GPs decides. The scheme has now been extended to include all hospitals in England but not adopted elsewhere in UK. PEST ANALYSIS: A review of the political, economic, social and technical (PEST) environment involves analysing the environment for any organisation. UK based healthcare provider for the public, NHS funded by contributions made from taxes distributed by the government to each of the trusts. NHS operates within a politically stable economy with funds pledged by both previous and current governments to the service for improvements in healthcare and salaries for staff. NHS facing the economic environment is a growing economy with a rising elderly population and less working people to support them. It has become increasingly difficult to recruit medical staff and shortages have often been counteracted by employing staff from other European Union countries which in turn increases the population within the UK. The social environment shapes beliefs, values and norms (Kotler). Belief is the core values of the health service and the services it offers was high on the publics list of concerns during the last general election as if NHS is an internal part of the UK and its culture. The technological environment is moving fast within the health care sector with continually development of drugs, advancement of techniques for operations and the use of technologies for both medical and administrative procedures. SWOT ANALYSIS: Strengths: There is no real competitor for the NHS although it doesnt have monopoly in the market. Accident and Emergency service is unique to the NHS though private hospitals are available throughout the UK. The NHS has continued to grow and expand upon its services since it was established in 1948. NHS maintains good relationship with health community partners. Weaknesses: Due to increasing population NHS is unable to cope with the demand. High waiting time for the patients. Bad behaviours and attitudes of some staff. Opportunities: Uses of marketing strategies to raise the profile of the NHS. Partnerships and joint ventures with private and voluntary sector. Threats: Work of contractors affects image of NHS. High turnover of staff. Shift of services to primary care. CAUSAL LOOP DIAGRAM: Causal Loop Diagrams contain several components: One or more feedback loops that are either reinforcing or balancing processes. Cause and effect relationships among the variables. Delays. Where feedback reduces the impact of change, it is a Balancing loop. Balancing loops try to bring things to a desired state and keep them there. Where feedback increases the impact of change, it is a Reinforcing loop. Reinforcing loops compound changes in one direction with even more changes in that direction. Causal Loop Diagram has two kinds of relationships between variables: When variable A changes, variable B changes in the same(S) direction. It is indicated by (S) in the diagram. When variable A changes, variable B changes in the opposite (O) direction. It is indicated by (O) in the diagram. The Causal Loop Diagram for NHS contains variables which are as follow: Number of Doctors, Nurses and other medical staff: The number of doctors, Nurses and other medical staff working in the NHS is inversely related to the waiting time for patients. This implies that when the number of staff increases, the waiting time for patients decreases because of added capacity. The number of staff working with NHS depends on softer variables such as their morale and work environment. Number of Patients on the Waiting List: This refers to the number of patients on NHS waiting list. The waiting list becomes short when a large number of patients shift from NHS to private health care and becomes particularly long due to seasonal peaks. Waiting time: This is time a patient has to wait before he/she can be treated by NHS. Number of hospitals, beds, medical equipment: The number of hospitals, beds and medical equipment are dependent on the annual NHS budget and funding. If there is a lack of these resources than it would increase tension in the system and it would take longer to treat patients. Perceived quality of Health Services (Waiting time, Treatment and After Care): -This varies from patient to patient, if the waiting time is too long, the perceived quality of the service is low and this in turn causes more people to complain against the NHS. Number of Complaints: Dissatisfaction of the patients due to increase in waiting times leads to an increase in complaints against the NHS. This increases pressure on the government and the Department of Health by acts of the National Audit Office. Number of Patients shifting to private Health care: The patients dissatisfied by the long waiting times of NHS, started complaining and shifting to private health care. Government action: Longer waiting lists increased media pressure causing the Government to increase its annual NHS budget which relaxes the system temporarily as new funds increases the NHS capacity. Investment in facilities, Medical equipment and information technology: An increase in the NHS budget allows the NHS to hire more medical staff and improve the capacities in hospitals. More patients can be treated within short time and the waiting lists can become shorter as the budget increases. Partnership with Private Health Care: NHS cannot cope with the excessive demand when the waiting lists become too long. So it tends to outsource its service to private health care e.g. BUPA, NHS express surgery units in partnership with state run German and French health care firms. This is quick and short way to fix the problem and tends to bring down the waiting time in the short run. Morale of doctors and other medical staff: This is a soft variable that depends on factors like the quality of the work environment in the NHS hospitals, the work pressure and employee satisfaction. The morale of doctors and other medical staff has a positive effect on the quality of service provided to patients. It also determines the number of doctors and medical staff that stay with NHS or join NHS. Number of patients coming back to the NHS: The waiting list tends to decrease when a large number of patients shift to private health care or/and when the NHS budget is increased to support improved health care. The waiting time for the treatment becomes short and due to this some of the patients who had previously shifted to private health care return to NHS. This once again increases the waiting list of the patients. All the actions and movements of these variables are shown in the Causal Loop Diagram of NHS (figure 1) Figure : Causal Loop Diagram for NHS Key: = Loop 1(Balancing Loop) = Loop 5(Reinforcing Loop) S = Augmenting Relationship O = Inhibiting Relationship The causal loop diagram suggests that a deeper set of forces is at work and the problem situation to be modelled is complex and dynamic. It is necessary to consider both hard variable (number of beds and hospitals) and soft variables (morale of staff). There are 6 loops in the system. There are 2 positive loops or reinforcing loops and 4 loops are negative or balancing loops. In loop 1, increasing number of patients on waiting list increases the waiting time which leads to dissatisfaction and complaints against the NHS. This also switches some patients to private health care. Increasing pressure from public and media forces the government to increase the NHS budget. This tends to have positive effect on the system by increasing NHS capacity and reducing the waiting list. Loop 1 is affected by loop 5 which is positive and reinforcing loop. Some patients decide to return to NHS from private health care as waiting list is decline. This increases the waiting list once again. Hence, there are no proper solutions to the problem or solution is difficult to achieve. Many obvious solutions to the problem like increasing the NHS budget failed in the past. The causal loop diagram contains more negative loops than positive loops. Hence the system appears to be a negative system that tends to counter uncontrolled deviation and stabilise if the waiting list increases significantly. CONCLUSION: NHS is the UK health care service run by the government funded through the taxes. This report shows environmental condition of NHS through PEST analysis and Strengths, weaknesses, opportunities and threats of NHS through the SWOT analysis. The causal loop diagram for NHS point out the main problem of NHS which is increasing waiting time for patients and a temporary increase in resources (NHS budget) gave short run solution for the problem. RECOMMENDATION: Collaboration with private health service to decline waiting time. NHS should maintain good relationship with private health service. NHS should overcome its weakness through its strength and reduce its threats through appropriate use of its opportunities. Increase its work force and equipment. NHS should stop the contract based employee and there should be better coordination between doctors, nurses and other employees.

Everyday Use by Alice Walker Essay -- Family Heritage Literature Essay

Everyday Use by Alice Walker Heritage is an important factor to every developing family. Heritage helps to develop a person's values showing what they believe in. Particularly about the values of their family. In the story Everyday Use, by Alice Walker, value of heritage is a main topic. Throughout this story there are many different words used to describe what Wangero (Dee), Maggie, and their mother value. These choices of words all play an important role in the contrasting values of these people and the battle over heritage. The mother of Wangero and Maggie is the narrator of this story. It is evident at the beginning of this story, when the narrator describes her clean yard as an extended living room, that she is proud of her home. Her house is somewhat of a shanty, meaning well run down and not very luxurious. Being proud of her home shows that she values what she has and doesn't complain about not living in luxury. The narrator also shows that she believes in having a close family. This is evident when she describes a dream of hers. The dream is about being on a TV program where Dee, her daughter also known as Wangero, comes on and hugs her; telling her how she appreciates all she has done. This experience of the hug in public shows that she values her daughter being close to her. This hug being in public shows that the narrator wants the world to see the family's interconnectedness. The narrator also shows her closeness with her other daughter Maggie, later in t...

What Is Caribbean Studies and Why Is It Important to Study It

Caribbean studies is a very fascinating subject for anyone to study but in order for one to know what exactly Caribbean Studies entails, we must know what is the basis of its existence, the Caribbean. The Caribbean is a region consisting of the Caribbean Sea, the islands (most of which enclose the sea) and the surrounding coasts. The region is located east of Central America, the southeast of North America and north of South America. This region comprises more than 7000 islands, islets, reefs and cays. The ‘West Indies’, the name used very regular today was given to it by Christopher Columbus when landing in Hispaniola in 1492, believed he had reached the Indies (in Asia). This arrival shaped the very existence of the Caribbean and most particular its people today. Knowing the history of the Caribbean region goes a long way toward understanding its people. Each island has a unique cultural identity shaped by the European colonialists, the African heritage of slaves, and the enduring legacies of the native Indian tribes. This rich history and its lasting influence is set against a backdrop of crystal clear waters and perpetual sunshine. Just knowing the history is just the tip of the iceberg. To understand the diversity of each island, their distinctive physical, political and socioeconomic challenges must be examined as well as their geography, common historical experiences, participation in the global community, not forgetting the diverse ethnic and racial groups and the continuing struggle for survival and sovereignty. This is why Caribbean Studies is important. Almost all the islands except for the very small ones are self-governed so they all exist on their own ,so why do we study them all? According to the geographical arrangement and most importantly, the settlements that were made after Columbus, the Caribbean islands were seen as one big unit that would provide liquidity for Europe. Each island shares a commonness of how they were colonized, how they fought to become independent and how they are sustaining themselves to compete with the international market. For a people to know where they are going, they must know where they came from, who they are now in order to shape their future. Many different events took place in the islands that changed the islands and their people. It is seen throughout history that the Caribbean people fought for whatever the wanted from the Indigenous people to African slaves for freedom to the Black citizens for independence of colonial rule. The independence of Haiti in 1804, mobilized the other countries in and around the Caribbean to fight for freedom. In Grenada, through Sir Eric Matthew Gary, she got her independence after long debates. Independence enabled the islands to be self-relying to make decisions on their owns so that the people today can choose what they do on a daily basis. Because of what happened many years ago, we can enjoy these benefits. This is why Caribbean Studies is important.

Discuss the importance of Budget transparency in foreign direct investment in developing countries The WritePass Journal

Discuss the importance of Budget transparency in foreign direct investment in developing countries Introduction Discuss the importance of Budget transparency in foreign direct investment in developing countries Introduction What is Foreign Direct Investment and what are the determinants of FDI? Fitting the pieces together, FDI and Budget Transparency. Budget Transparency and FDI, Case Study evidence from Uganda: Conclusions and Implications: ReferencesRelated Introduction In recent literature, capital flows from rich to poor nations has become a subject for intense debate among development theorists. (Kolstad, 2008) Many development theorists have come to understand that foreign direct investment (FDI) can provide a positive incentive for growth and development in poor nations. The gains from FDI are numerous, and include technological and productivity spillovers, as well as reduced prices for downstream suppliers for domestic firms, increase demand in local labor markets, increased wages, and an increase in revenue streams for the domestic government. (Javorcik, 2004) Thus, understanding why foreign direct investment flows into some developing countries and not others can have a major impact on development policy in many organizations; including multinational organizations, intra-government development ministries, and private sector aid agencies. In traditional macroeconomic theory, capital flows from countries with a low marginal product of capital to those with a higher marginal product of capital. (Biswas, 2002) In reality however this does not uniformly occur. Furthermore, according to the IMF, â€Å"there is no unique and widely accepted theory of foreign direct investment.† (Lizondo, 1990) Classical macroeconomic theory therefore does not sufficiently explain foreign direct investment rates and supplement theories are required. There is a combination of theories that include numerous explanations of foreign direct investment in developing countries. These include, risk reduction (risk diversification) and market size, market imperfections, oligopolistic rivalry and product cycle hypothesis, liquidity of subsidiaries, currency exchange rates, and lastly political stability and domestic tax rates. (Lizondo, 1990) For the purposes of this essay, I will be focusing specifically on risk diversification, currency excha nge rates, political variables and domestic fiscal norms –as these have the most applicability to budget transparency. Clearly, the outlined above determinants of foreign direct investments are all affected by budget transparency. The OECD Best Practices for Budget Transparency (2002) outlines the determinants of budget transparency, and the relevant institutional reforms necessary to maintain fiscal and monetary transparency, while ensuring accurate economic outlooks and protecting against off-budget expenditures. (OECD, 2002) Budget Transparency Foreign Direct Investment in Developing Countries 2011 Within this essay, I will make the argument that adopting fiscal and monetary transparency, while producing sound economic outlooks and protecting against off-budget expenditures -and complying with these rules in a coherent manner- should reduce the risk of investment in the eyes of foreign entities; which would in turn view increased foreign direct investment more favorably. In order to validate my argument, I will first look at the existing theory behind foreign direct investment, as well as the theory behind budget transparency, and then elaborate on the theoretical and logical link between the two. Lastly, in order to attach these theoretical frameworks to the true state of the world, I will examine a series of case studies. I will examine several states and look at budget transparency within these individual states, analyze the strengths and weaknesses of budget transparency within their government and its subsequent effects on their domestic economies, and then compare the flo w of foreign direct investment (net inflows) as a percentage of GDP. What is Foreign Direct Investment and what are the determinants of FDI? In order to fully understand why foreign direct investment is both affected by budget transparency, and beneficial to developing countries we need a clear working definition of what foreign direct investment actually is. According to the United Nations Development Program (UNDP), foreign direct investment as: â€Å"†¦investment made to acquire a lasting interest in or effective control over an enterprise outside the domestic economy of the investor†¦ FDI net inflows are the value of inward direct investment made by non-resident investors in the reporting economy, including reinvested earnings and intra-company loans, net of repatriation of capital and repayment of loans.† Given this definition, in order to understand what determines the flow of foreign direct investment into a developing economy, and how it corresponds with budgeting transparency, we must understand the decision making process of entities wishing to invest in any particular economy. As mentioned in the introduction of this essay, this is more difficult then it appears as the topic is subject to ongoing academic debate. However, some common trends can be picked out of the academic thicket. Budget Transparency Foreign Direct Investment in Developing Countries 2011 In Determinants of Foreign Direct Investment (2002), Romita Biswas cites, Keefer and Knack (1995), Lee and Mansfield (1996), and Clague (1999) as explaining property rights and –key for our purposes- quality of governance as crucial to explaining net rates of foreign direct investment in emerging and developing economies. There are numerous indicators for this â€Å"quality of governance† variable; however for our purposes, the most important is government corruption and off budget expenditures, risk of expropriation by government officials and tax rates- all of which are either mitigated by or influenced directly by budget transparency. In support of these variables, Biswas finds that the introduction and interaction of the â€Å"quality of government† variables (again, composed of the above variables) with traditional determinants of foreign direct investment, produces a highly statistically significant effect (5% level) on determining net inflows of foreign di rect investment. (Biswas, 2002) Taking the above into account, we might then explain in more detail the classical determinants of foreign direct investment in developing counties. First and foremost, firms undertake foreign direct investment as a means to mitigate risk. According to an International Monetary Fund working paper produced in 1990: â€Å"†¦a firm would presumably be guided by both expected returns and the possibility of reducing risk. Since the returns on activities in different countries are likely to have less than perfect correlation, a firm could reduce its overall risk by undertaking projects in more than one country. Foreign direct investment can, therefore, be viewed as international portfolio diversification at the corporate level.† (Lizondo, 1990) This tells us that entities diversify risk by spreading foreign direct investments -principally in capital- across many countries. Further expanding on this, we can make a small logical step. We can then assume that entities, wishing to diversify risk would assess the risk inherent in individual economies. Rather than just spreading capital over a high number of developing economies, the entity would pick and choose which developing and emerging economies to locate capital in, and prioritize those locations according to domestic risk –as assessed from the factors mentioned in the introduction. This is a crucial assumption because it says a great deal about the nature of economic entities. In principle, it tells us that these actors do not simply look at the marginal product of capital and prioritize foreign Budget Transparency Foreign Direct Investment in Developing Countries 2011 direct investment accordingly. Indeed, we assume for the purposes of this essay that economic entities wishing to engage in foreign direct investment balance risk along with their marginal product of capital for individual developing economies. Moving on from assumptions to other classical determinant of foreign direct investment, we can look at the strength of the entities domestic currency, weighted against the strength of the currency of the recipient economy- destination of the foreign direct investment. This theory is based on â€Å"capital market theory† and the strength of exchange rates. In essence, the theory proposed by Aliber (1970, 1971) hypothesis that the stronger the domestic currency of the actor wishing to partake in foreign direct investment, against the currency of the recipient economy, the more likely it is that this actor is to undertake foreign direct investment. Further, this theory explains this relationship primarily through the preference of an investor to hold a select currency. (Blonigen, 1997) Numerous studies to test this theory have shown that there is indeed a statistically significant negative correlation between strength of currency and net inflows of foreign direct investment. (Bis was, 2002 Blonigen, 1997) Lastly, another determinant of foreign direct investment -which has been studied with mixed results-, is domestic fiscal norms. While the literature on this particular determinant has yielded mixed results, we must still give attention to both the status quo and risk inherent in the fiscal norms of the recipient economy. Given the assumption above -that entities wishing to engage in foreign direct investment assess and quantify the risk of their investments of capital in all individual economies they wish to invest in- we can ascertain that fiscal frameworks play some role in that assessment. Included in fiscal norms are both the tax rates, and the stability of those norms. We can make the assumption that both unfavorable tax rates and instability of fiscal norms will have a negative impact on foreign direct investment. This subject has been partially studied with some encouraging results. In a 2007 International Monetary Fund piece, published in the Journal of Comparative Economics the authors find that the policy environment (including fiscal policy) does have a significant effect on levels of FDI. (Demekas, 2007) Budget Transparency Foreign Direct Investment in Developing Countries 2011 Before moving to connect the above determinants of FDI with budget transparency theory, I would briefly like to touch on the interconnected nature of the above determinants of FDI as well as to summarize for the sake of clarity. Above, I cite numerous studies that explain risk, fiscal policy, currency strength, and quality of governance as the crucial determinants of foreign direct investment. Furthermore, hidden in the quality of governance index are several factors that some perceptive academics have looked into; namely government corruption, risk of expropriation by government officials and tax rates. Now, as we’ve discussed fiscal policy, corruption, and risk of expropriation have been mentioned and studied as both an independent contributor to foreign direct investment, as well as part of a â€Å"quality of government index.† In essence, all of these variables have been studied and in one way or another, and have been found to contribute to net inflows of foreign d irect investment. Furthermore, these variables all are directly affected or are altered by the application of budget transparency theory. We will now examine the definition of budget transparency, its application to developing nations, and how the above determinants of foreign direct investment fit into budget transparency theory specifically. Fitting the pieces together, FDI and Budget Transparency. In order to accurately and neatly fit the determinants of net inflows of foreign direct investment together with budget transparency, we need to clearly define what budget transparency is, and its applicability to developing economies. Keeping in mind both the aggregate â€Å"quality of governance† determinant of foreign direct investment as mentioned in the previous section -and its subsidiary parts- the OECD explains that, â€Å"The budget is the single most important policy document for governments.† Furthermore, the OECD explains that budget transparency can be defined, â€Å"†¦as the full disclosure of all relevant fiscal information in a timely and systematic manner.† (OECD, 2002) By maintaining the assumption that, in order to mitigate risk, entities wishing to engage in foreign direct investment prioritize possible recipient economies in terms of their risk and reward, we can see that the level of budget transparency greatly influences many of the ke y determinants of net Budget Transparency Foreign Direct Investment in Developing Countries 2011 inflows of FDI at both the aggregate level in the recipient economy, as well as the individual entities decision of whether or not to engage directly a recipient economy. We will now move to accessing individual determinants of net inflows of FDI in terms of budget transparency norms, attempt to tie them to OECD best practices on budget transparency, before finally concluding this section spending some time on the applicability of budget transparency to developing economies. First, we will talk about the currency determinant of foreign direct investment as it relates to budget transparency. Fundamentally, currency exchange rates are affected by interest rates and the amount currency in circulation –both of which are directly affected by government debt. The budget transparency outline is first and foremost a budget document that is designed to –among other things- impose fiscal disciple on a government. (OECD, 2002) This fiscal disciple influences currency strength by (theoretically) lowering the debt incurred by governments, as well as providing for more accurate revenue forecasts. The OECD outlines the conditions for these outcomes in several key areas. First in section 1 by outlining that the government should provide a comprehensive list of all government activities, a forecast of future and previous fiscal year’s government expenditure and revenue, and a complete list of all government liabilities. (OECD, 2002) These measures in the OECD guide have been linked to improved fiscal stability and lower debt ratios of governments in developing countries. For instance, Kopits and Craig (1998) assert that, â€Å"better-performing countries (those with better debt ratios and higher levels of FDI)†¦ generally follow more transparent fiscal norms.† Similarly, Alesina, Hausmann, Hommes, and Stein (1996) find that budget institutions do affect fiscal outcomes. They explain that more hierarchical (as defined by their index) budget institutions produce lower debt to GNP ratios. From this we can extrapolate that a key condition for entities willingness to engage in foreign direct investment is met by increasing budget transparency, through increasing currency stability as well as balancing government accounts. Budget Transparency Foreign Direct Investment in Developing Countries 2011 A closely related determinant of foreign direct investment is domestic fiscal norms in the recipient economy. Conceivably, entities wishing to engage in foreign direct investment would evaluate not only the current fiscal conditions of a recipient economy, but also the fluctuations in this fiscal regime. Viewing highly unstable fiscal conditions as a far higher risk, these entities would then prioritize their investments accordingly. Working under this assumption, we can see how the OECD budget transparency guidelines both improve fiscal outcomes, as well as stabilize the budget process, providing for long run fiscal stability. In Fiscal Discipline and the Budget Process (1996) Alesina and Perotti hypothesize that the implementation of budget transparency and a normative budget process should improve long-run fiscal performance. Using these findings as a working assumption, we can draw a clear parallel from specific elements of the OECD Best Practices of Budget Transparency and impro ved long-run fiscal performance. More specifically, we can see that stipulations corresponding to medium-term expenditure frameworks, and the long-term report of government fiscal challenges –including demographics among other things- should in theory stabilize the budgetary process, and thus the fiscal situation in the long-run. Lastly, we will turn out attention to a fuzzy term, namely the â€Å"quality of governance† indicator used in so many studies, as well as its subsidiary parts. As mentioned in prior sections, the â€Å"quality of governance† indicators, as well as its sub components were shown to have a highly statistically significant effect on net inflows of foreign direct investment. This broad index covers many areas of interest; these include variables such as political stability, level of democratization, and the â€Å"policy environment.† For the purposes of this essay however, we will be looking at specifically government corruption, the risk of expropriation, and how budget transparency affects these variables, as well as quality of governance in a broad perspective. Looking at budget transparency and government corruption first, we see that the literature on government transparency and corruption is extensive. In Is Transparency the Key to Reducing Corruption in Resource-Rich Countries? (2008), Ivar Kolstad and Arne Wiig explore transparency as a means to push Budget Transparency Foreign Direct Investment in Developing Countries 2011 developing countries out of the resource paradox. They conclude that, â€Å"Transparency can reduce bureaucratic corruption by making corrupt acts more risky, by making it easier to provide good incentives to public officials, and by easing selection of honest and efficient people for public service.† (Kolstad, 2008) This is especially important within the context of developing economies because these economies have a higher probability of being highly resource dependent. Within the context of the OECD standards for budget transparency, expenditure is classified by administrative unit, financial liabilities are more acutely planned for and the development of more thorough employee compensation obligations provides that government administrators are thus less likely to experience gaps or disruptions in compensation. Furthermore, adhering to budget transparency norms reduces the risk of embezzlement of government funds by creating a clear and routine audit framework. The additional oversight mentioned above can also help to mitigate the risk of expropriation of foreign actors wishing to engage in foreign direct investment. In Democracy, Autocracy, and Expropriation of Foreign Direct Investment (2009), Quan Li explains that â€Å"†¦governments are most likely to expropriate foreign investment when leaders face little political constraint.† While Quan Li works directly with variables found very often in expropriation literature, -namely rule of law, property rights, investment behaviors, and privatization reforms- I would make the argument that budget transparency helps to mitigate the likelihood of expropriation through better revenue stream planning, as well as the imposition of government fiscal norms. Foreign entities are most at risk of expropriation when operating in countries with unstable fiscal balance sheets, which implies both poor budget transparency and inadequate fiscal norms. In recent history, a prime example of this phe nomenon was Hugo Chavez of Venezuela ordered the nationalization of oil production operations owned by two foreign firms. According to the International Budget Partnership Venezuela, â€Å"lacks information on fiscal activities†¦ including extra-budgetary funds, and quasi-fiscal activities.† (IBP, 2011) This lack of transparency would imply very few constraints on political Budget Transparency Foreign Direct Investment in Developing Countries 2011 leader’s ability to affect fiscal and economic conditions in Venezuela, which likely contributed to the expropriation of private firms for political purposes. In summarizing budget transparencies effect on determinants of foreign direct investment, we should briefly note that all of the above factors affect the risk inherent when a foreign entity is deciding whether or not to invest in a recipient economy. Currency considerations, the stability of domestic fiscal norms, quality of governance –more specifically corruption and risk of expropriation- are all mitigated by properly enacted budget transparency measures. Using the OECD’s guide to budget transparency I have outlined which elements of the guide apply to each of the above determinants. Going further, we can talk briefly about the applicability of these reforms within the context of developing economies. In Budgeting in Poor Countries: Ten Common Assumptions Re-examined (1980), Naomi Caiden challenges many common budgeting assumptions relevant to the context of developing economies. Most importantly for our purposes, are the assumptions dealing with national economic planning and inadequate resources. Caiden explains that national economic planning with regard to budgeting norms should be used to coordinate development objectives. This argument holds merit in that extremely detailed development plans require vast resources, expertise and foresight by governments that are typically short of all three in one way or another. This same argument holds true for countries with a sever lack of resources- both expertise and financial. However, I would argue against this line of thought on the basis that increased foreign direct investment offsets the costs of implementing budget transparency. Increases in revenue, technological and management spillovers (Aitken, 1999), increased productivity of domestic firms, combined with the other benefits of budget transparency, especially with regard to improved fiscal performance and an increase in quality of governance; the benefits should outweigh the costs in the minds of most policy makers. Budget Transparency and FDI, Case Study evidence from Uganda: We now move to an in-depth case study of Uganda to show how the effects of budget transparency can directly increase levels of foreign direct investment. Budget Transparency Foreign Direct Investment in Developing Countries 2011 Uganda is a sub-Saharan African nation that has seen considerable political and economic turmoil over the last fifty years. Throughout much of the 1960s Uganda had a robust economy; however political instability, poor macroeconomic policies by its government, and economic shocks with roots in the global market quickly deteriorated this advantageous economic situation. Due to these factors, chief among them poor macroeconomic policy, the 1970s and 1980s experienced high levels of inflation due to dramatic mismanagement of public debts. (Kuteesa, 2006) The greatest factor in this period of economic destabilization was the government was printing money to finance public sector deficits, which lead to very high rates of inflation. (Mwenda, 2005) As a result of these economic problems Uganda’s net flow of foreign direct investment flat lined at zero percent of GDP. (World Bank) Furthermore, industrial production fell by 3.9% annually from 1983-86. This decline in industry made Ugan da more heavily dependent on agriculture which was also experiencing poor performance due to the economic conditions. (Mwenda, 2005) However, in 1987 Uganda –with the help of the International Monetary Fund, World Bank and other donors- initiated an Economic Recovery Programme whose aim was to, reduce inflation, balance the budget, and implement sound fiscal and monetary policy. (Kuteesa, 2006) These policies had a dramatic effect on the Ugandan economy, producing healthy GDP growth since the late 1980s. With the stabilization of the currency, improved public debt management, and a clear adherence to thoughtful fiscal norms, foreign direct investment began to grow in the few years following the reforms. However, it is very important to note that the Economic Recovery Programme overseen by the IMF and World Bank did not produce immediate rises in foreign direct investment. Indeed this economic reform package was implemented in 1987 and Uganda did not see any significant increase in net inflows of foreign direct investment until 1993. (World Bank) Hence there is a six year gap where serious economic recovery wasn’t enough to entice foreign entities to invest in Uganda, despite the improvement in public debt management and the curbing of inflation. Budget Transparency Foreign Direct Investment in Developing Countries 2011 Although, in the end of 1992 beginning of 1993 Uganda embarked on a reform scheme aimed at increasing budgetary discipline. These changes to the budget system included, enhancing fiscal discipline, enhancing efficiency and effectiveness of public expenditures, improved financial management and accountability, and finally, improving transparency and openness of the national budget processes. (Mwenda, 2005) As consistent with the OECD guide to budget transparency, the Ugandan government adopted a clearly defined system of cash accounting, overseen a realignment of policy objectives to an outcome/output orientation, undertaking clear public expenditure reviews (performance auditing), and lastly increased the scrutiny of parliament through the newly formed Parliamentary Committee on the Budget. In adopting these reforms, many of which explicitly outlined in the OECD guide to budget transparency, we can see a noticeable effect on all of our aforementioned determinants of foreign direct in vestment. The Ugandan currency (shilling) has experienced stable rates of inflation, around 4.6%. (World Bank) The level of corruption in Uganda while still quite widespread is on par with that of its neighboring countries. Further, the perception of corruption in Uganda has become less and less accepted over the past decade. (Transparency International) Crucially on the topic of corruption, the International Monetary Fund and World Bank have stated that as African governments adopt reforms aimed at budget transparency and various administrative reforms would, â€Å"lead to the emergence of a smaller and more competent state, one in which there would be fewer opportunities for corrupt behavior.† (Mwenda, 2005) The dramatic budgetary reforms, along with the macroeconomic corrections, have produced stable and predictable fiscal norms, as well as fiscal decentralization within Uganda. In 1993 -just after these budgetary reforms-, Uganda began to see levels of foreign direct investment for the first time in almost twenty years. Recently, the International Budget Partnership (UBP) has shown an increase in the level of budget transparency in Uganda. From a score of 31% on the budget transparency scale (0-100%), the Ugandan government has steadily increased its level of budget transparency to 55% as of the latest survey in 2010. According to Budget Transparency Foreign Direct Investment in Developing Countries 2011 the IBP, Uganda publishes a comprehensive citizens budget document, publishes decent (grade of C) In-Year Reports, produces a very substantive (grade of A) Pre-Budget Statement and enacts the national budget in a clear and concise manner which has the rule of law once enacted. Since improving its budget transparency index, and putting fiscal practice in line with international best practice –as outlined by the OECD- Uganda has predictably seen a sizeable increase in net in-flows of foreign direct investment, growing from just 2% of GDP to over 7% of GDP over the last decade. (World Bank) Conclusions and Implications: In this essay I attempted to summarize the theoretical determinants of foreign direct investment, connect them to OECD best practices of budget transparency, and then link the two together in a clear and concise real world case study –Uganda. In summarizing the determinants of FDI, we can see that currency strength, domestic fiscal norms, level of corruption, risk of expropriation all contribute to, and are interconnected to the risk inherent in undertaking foreign direct investment. We should care about this topic because in the current fiscal climate, governments around the world are cutting expenditure making foreign aid to developing countries less and less sustainable while such economic uncertainties exist. Thus, it is important for developing economies and the governments wishing for better outcomes for their people to find alternative modes of development revenue, foreign direct investment provides such revenue. Along with increased revenue, FDI in developing economies also provides numerous positive spillovers which include, technological and managerial gains by domestic firms, increased domestic production, and increased downstream profits for domestic enterprise. However, there is some serious resource problems associated with undertaking budgeting reforms. As mentioned above, I believe that the benefits vastly outweigh the costs of undertaking such reforms. Adopting budget transparency has led to more favorable fiscal and monetary outcomes, a check on corruption, better governance, increased citizen involvement, and the subject of this essay, increased FDI. Budget transparency should be seen as a priority for developing countries. It is Budget Transparency Foreign Direct Investment in Developing Countries 2011 not however a panacea, or a fix all for developing countries. Budget transparency can be seen however as a substantial first step towards integration into the world economy through increases in FDIs and a first step towards getting out of the resource/aid paradox for developing nations. Budget Transparency Foreign Direct Investment in Developing Countries 2011 References * Aitken, Brian J. and Harrison, Ann E. 1999. Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela American Economic Review, Vol. 89, No. 3 pp. 605-618 * Alesina, Alberto and Perotti, Roberto 1996. Fiscal Discipline and the Budget Process, American Economic Review, Vol. 86, No. 2 * Alesina, Alberto, Hausmann, Ricardo, Rudolf, Hommes, and Stein, Ernesto. 1996. Budget Institutions and Fiscal Performance in Latin America. Working Paper 5586, National Bureau of Economic Research.. 447-465 * Allen, Richard. 1996. The Challenge of Reforming Budgetary Institutions in Developing Countries IMF Working Paper, Fiscal Affairs Department *Asiedu, Elizabeth. 2001. On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different? World Development Vol. 30, No. 1, pp. 107-119. * Biswas, Romita. 2002. Determinants of Foreign Direct Investment. Review of Development Economics, 6(3), 492–504 * Blalock, Garrick and Gertler, Paul J. 2008. Welfare gains from Foreign Direct Investment through technological transfer to local suppliers. Journal of International Economics Vol. 74 pp. 402-421. * Blondal, Jon R. 2003 Budget Reform in OECD Member Countries: Common Trends. OECD Journal on Budgeting Vol.2, No. 4 * Blonigen, Bruce A. 1997. Firm-Specific Assets and the Link between Exchange Rates and Foreign Direct Investment. The American Economic Review, Vol. 87, No. 3 pp * Borensztein, Gregorio, and Lee. 1998. How does foreign direct investment affect economic growth? Journal of International Economics Vol. 45 pp. 115–135 Budget Transparency Foreign Direct Investment in Developing Countries 2011 * Busse, Matthias and Hefeker, Carsten. 2007. Political risk, institutions and foreign direct investment. European Journal of Political Economy Vol. 23 pp. 397-415. * Caiden, Naomi. 1980. Budgeting in Poor Countries: Ten Common Assumptions Re-Examined, Public Administration Review, Vol. 40, No. 1 pp. 40-46 * Demekas, Dimitri G., Horvth, Balzs., Ribakova, Elina., Wu, Yi. 2007. Foreign Direct Investment in European transition economies- The role of policies. Journal of Comparative Economics 35 (200 * Duce, Maitena and Espaà ±a, Banco de. 2003. Definitions of Foreign Direct Investment (FDI):a methodological note Banco de Espaà ±a, International Economics and International Relations Department. * Foreign Direct Investment in Emerging Market Countries. (2003) Report of the Working Group of the Capital Markets Consultative Group. * Hameed, Farhan. 2005. Fiscal Transparency and Economic Outcomes. International Monetary Fund Working Paper. WP/05/225 7) 369–386 * International Budget Partnership. Uganda Info. internationalbudget.org/what-we-do/open-budget-survey/?fa=countryDetailsid=2311countryID=UG * Jarmuzek, M. 2006. Does Fiscal Transparency Matter? The Evidence from Transition Economies. Warsaw, Poland: Center for Social and Economic Research. * Javorcik, Beata Smarzynska. 2004 Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers Through Backward Linkages. The American Economic Review Vol. 94 No. 3, pp. 605-627. * Kopits and Craig (1998) Transparency in Government Operations. International Monetary Fund. Occational Paper 158. * Kolstad, Ivar and Wiig, Arne. 2008. Is Transparency the Key to Reducing Corruption in Resource-Rich Countries? World Development Vol. 37, No. 3, pp. 521-532. * Kraan, Dirk-Jan. 2004. Off-budget and Tax Expenditures. OECD Journal on Budgeting Vol.4, No. 1 Budget Transparency Foreign Direct Investment in Developing Countries 2011 * Kuteesa, Florence, Magona, Ishmael, Wanyera, Maris and Wokadala, James. 2006. Uganda: A Decade of Budget Reform and Poverty Reduction. OECD Journal on Budgeting Vol 6 No. 2. * Li, Quan 2009. Democracy, Autocracy, and Expropriation of Foreign Direct Investment. Comparative Political Studies 2009 42: 1098 * Lizondo, Saul J. 1990. Foreign Direct Investment. International Monetary Fund Working Paper. WP/90/63. * Markusen, James R., Venables, Anthony J. 1999. Foreign direct investment as a catalyst for industrial development. European Economic Review Vol. 43, pp. 335-356 * Mello, Luiz R. de Jr. 1999. Foreign direct investment-led growth: evidence from time series and panel data. Oxford Economic Papers 51, pp. 133-151. * Mwenda, Andrew M. and Tangri, Roger. 2005. Patronage Politics, Donor Reforms, and Regime Consolidation in Uganda. African Affairs, 104/416, pp. 449-467. * OECD Best Practices for Budget Transparency. 2002. OECD Journal on Budgeting. 1(3): 7-14. * Ram, Rati and Zhang, Kevin Honglin. 2002. Foreign Direct Investment and Economic Growth: Evidence from Cross†Country Data for the 1990s. Economic Development and Cultural Change, Vol. 51, No. 1 pp. 205-215 * Renzio, Paolo de, Gomez, Pamela and Sheppard, James.2009. Budget transparency and development in resource-dependent countries UNESCO 2009. Published by Blackwell Publishing Ltd. * Schneider, Friedrich and Frey, Bruno S. 1985. Economic and Political determinants of Foreign Direct Investment. World Development, Vol. 13, No. 2, pp. 161-175, * Transparency International Global Corruption Report(s). transparency.org/publications/gcr * Walsh, James P. and Yu, Jiangyan. 2010 Determinants of Foreign Direct Investment: A Sectoral and Institutional Approach. IMF Working Paper, Asia Pacific Department. WP/10/187. Budget Transparency Foreign Direct Investment in Developing Countries 2011 * World Bank Data Indicators. http://data.worldbank.org/indicator

The Electromagnetic Spectrum essays

The Electromagnetic Spectrum essays X-rays are used in many ways. The most common is to take X-rays of people. Dentists used it to check for weakenings in the teeth, and doctors use it to look at broken bones. Although X-rays are very helpful they can be harmful too. If youre over exposed to them they can deteriorate your cells and cause cancer. Infrared rays help us detect heat. With special equipment, you are able to take pictures. Infrared rays arent seeable by the naked eye. It is also used to heat food. Remote controls used infrared rays to change the TV channels and radio stations. A negative effect of infrared rays is that they can burn you and cause eye cancer. Short wave radiation is used to talk all around the world. HAM radios use short wave radiation to send signals. A bad thing is that the waves are sometimes too short and the powerful towers have been accused of causing cancer. Ultra violet rays can be used to give a better, more appealing looking skin. Its also been know to cause cancer if you are over exposed to it. Special sunglasses are worn to protect our eyes from these rays. Even though you cant see them, they are still Visible light includes all the colors of the rainbow. This allows us to see in color. The colors we can see are red, orange, yellow, green, blue, indigo, and purple. All though its good to be able to see in color, visible light allows us to only see the Gamma rays are very useful in killing cancerous cells. But as with anything good, theres a bad. If gamma rays come in contact with any living cell, it will kill them also. Microwaves have wave lengths measured in centimeters. The longer the waves are close to a foot and they are used to heat our food. They cause radiation and can Radio waves are used to transmit sound and music waves to us. This is good because I like to listen to music. Radio wave can ca ...

Employment Relations Essay Example | Topics and Well Written Essays - 1500 words - 2

Employment Relations - Essay Example Workplaces have been using flexibility like outsourcing and casualisation which have a less direct relationship between employer and the worker. The employers prefer flexible labour policies as it allows them to adjust to match the changing demand patterns, thereby enabling the employers to exercise internal numerical flexibility. They are able to attain external numerical flexibility when they outsource particular functions. Employers benefit as they save on costs by engaging labor on just-in-time basis. Outsourcing helps to avoid capital investment and the funds can be used for other investments. By contracting out, the employers also gain as they are able to de-unionize the unionized workforce. Most importantly, through outsourcing, employers gain from the highly specialized skilled workforce that can be available. The employers may have to compromise on quality as the flexile workers have less experience and expertise. The flexible workers are less likely to receive training as t hey are not integrated into the human resource system of the organization. Co-ordination and delivery of services also pose problems in outsourcing out work. Employees benefit as it serves to provide temporary employment to many who do not want full-time employment and also serves a springboard for those who are looking for stable employment.

Critically analyse the role of Perception in Consumer Behaviour Essay

Critically analyse the role of Perception in Consumer Behaviour - Essay Example This particular aspect can further be observed as a multidimensional concept which in itself is quite challenging to be defined and identified in the real life context being influenced by various other attributes such as cultural beliefs, social diversity and lifestyle needs (Desmond, 2003). The paper intends to discuss regarding the role of perception in consumer behaviour with particular focus on the UK based brands. Moreover, this paper also discusses regarding the exposure, attention, interpretation and sensation of consumers while making purchasing decisions towards different products and services. Perceptual Process In its simple meaning, perception can be associated with gathering of information through our senses i.e. through seeing, hearing and tasting among others. In other words, perception can be related with a process by which humans become familiar and aware of a particular event and interprets a stimulus. It can further be argued that not all the human beings are alike in all contexts. There are some dissimilarities persisting in the perceptions of humans that further distinguish an individual from another. Contextually, an individual’s perceptions regarding products and/or services can differ within a group in terms of features, prices, qualities and brand names among others. It has often been observed that among these large groups of individuals, different opinions can persist about a particular product and/or service which are offered by the marketers (Ziethaml, 1988). It has been further observed in this context that an individual frequently desires to obtain information regarding products and/or services through their five senses, i.e. smell, taste, touch or texture, sound and sight (Solomon, 2012). As these attributes are believed to be the fundamental aspects of defining customer perceptions, modern day marketers often tend to utilise these senses in order to identify the expectations of the potential customers and channelize their buying behaviour towards the determined goals (Arnould & et. al., 2005). It is in this context that contemporary organisations always attempt to ensure proper evaluation of consumers’ perceptions in order to effectively facilitate their target markets with appropriate offerings and deliver the products and/or services which are fit for the potential customers’ expectations (Creusen & Schoormans, 2005; Vigneron & Johnson, 1999). To be illustrated, Tesco PLC and British Airways are often characterised as two of the leading brands that have always considered and implemented various buying behaviour theories and concepts to recognise customers’ perceptions accurately, while introducing new products and services in its target markets. In terms of influencing consumer buying behaviour, British Airways implements unique promotional strategies which directly impacts upon attracting the potential consumers to adopt the company’s services in an efficient manner (Te sco PLC, 2013; British Airways, 2010). Sensory Stimuli According to Krishna (2011) â€Å"sensory marketing is an application of the understanding of sensation and perception to the field of marketing —