The relationship between stock markets and economic development Essay

The relationship between stock markets and economic development - Essay Example Empirical studies do suggest that a well developed stock market can considerably support economic growth in the long run through faster capital accumulation, improved resources allocation and exploiting the prevalence of positive sentiment across the country. (Ahmed, Ali & Shahbaz, 2008) In 19th and 20th centuries, academicians such as Bagehot (1873) and Schumpeter (1911) had focused on contribution of financial sector to economy. The main function of money or capital in the initial years was to trade in credit for the purpose of financing development before the Great Depression. Gurley and Shaw (1955) were the first to study the relationship between financial markets and real activity. However, the direct relationship was not very clear until recently. Recent literature has paid much attention to banking reforms which directly affected both the stock markets and economic growth relationships. Levine (1997) suggested that liquid market spread can lead to stable and long term investments leading to economic growth through reduced transaction expenditure. While the conventional economists always believed that there was no direct relation between stock market growth and economic growth because of presence of level effect and not the rate effect. Many of them in fact be lieved that stock markets actually harm the economic growth due to its volatile nature, market flexibility due to unstructured and unexplainable sentiments and generally no justification for sudden surge or fall in stock indexes leading to perceived gains and losses of millions of dollars in a fraction of a day. However, there has been considerable growth of stock market share in economic direction of a country. During late 90s over a period of a decade, the total value of world’s stock markets rose from $4.7 trillion to $15.2 trillion while capitalisation share jumped fro 4% to 13%. (Levine 1998). The figures have since seen exponential growth in the past decade too, with world economy growing

Why smoking should be banned Essay Example | Topics and Well Written Essays - 500 words

Why smoking should be banned - Essay Example According to the American Lung Association (2014), cigarette smoking in the U.S. causes 393,000 deaths annually; also the cost associated with cigarette smoking is high for the government. According to the study by American Lung Association (2014), in 2004, cigarettes smoking costs were $193 billion. The healthcare costs associated with the use of cigarettes in 2004 was $96 billion, while lose of productivity due to cigarette smoking was approximately $97 billion. Additionally, the study shows that cigarette smoking causes lung cancer. Smoking of cigarettes emits 7000 chemicals, and research shows that 69 of the chemicals cause lung cancer, which is responsible for close to 90% deaths from lung cancer. In addition, cigarette smoking is responsible for 20% to 30% of low birth weights in the U.S and is the cause of 10% of infant deaths and 14% pregnancy complications such as premature deliveries. The research shows that neonatal healthcare costs associated with cigarette smoking in the U.S. is approximately $366 million annually. The statistics above are attributed to sales of cigarettes in U.S. markets. This means that ban of cigarettes sales would reduce healthcare costs and deaths caused by diseases such as lung cancer. However, those opposing the prohibition of cigarettes sales argue that government revenue would reduce if the ban is imposed. They explain that federal states in the U.S. are already imposing high taxes on cigarettes. The U.S. average tax per a pack of cigarettes is $1.01, which is higher than any other products’ tax. The taxes are high for government and banning of cigarettes sales will be a disadvantage for government because they will not be able to get revenue (Heartland Institute n.d.). According to Hu and Mao (2001), cigarette smoking in China is high and is considered a health problem. However, the study also shows that China benefits from taxes levied on cigarettes sales and importation. For

Flannery Oconnor's a good man is hard to find Essay

Flannery Oconnor's a good man is hard to find - Essay Example After the cat jumped on Baileys shoulder and caused the car to wreck, the grandmother was scared of Baileys reaction. She was relieved to see the other car coming at first. Upon recognizing the Misfit, the grandmother blurted out who he was. If she would have not recognized him, maybe the men would have just stole the car. Maybe they would have fixed the car and had the family take them somewhere. However once the grandmother said the Misfits name, she signed their death warrants. When Bailey said the nasty phrase that made his mother cry, he knew that they would all be killed. The Misfit and the grandmother had a conversation as his friends were killing her family in the woods. In some ways the Misfit heard the grandmother and vice versa unlike their respective friends and families. The grandmother was trying to relate to the Misfit by insisting he must be a good man. The Misfit was trying to explain that he was not a good man. The grandmothers words are what condemned her to death. The grandmother was trying to conform the Misfit into her idea of a good man. The Misfit was not that man. In many ways the Misfit was more honest than the grandmother. He knew who he was; a thief, killer, and reprobate. The grandmother had lived a hypocritical life. Her goal was to be seen as a lady, when in reality she was not. She lied, manipulated, and twisted her son daily. The Misfit knew this. "She would of been a good woman," The Misfit said, "if it had been somebody there to shoot her every minute of her life." The violence is what made her real. In this way she was just like the Misfit. The violence made him

Semiconductor devices and circuits Coursework Example | Topics and Well Written Essays - 1500 words

Semiconductor devices and circuits - Coursework Example Each atom after sharing electrons will attain a full outer shell. Conductors: Conductor materials have large number of free electrons and thus conduct easily. Examples of a good conductor are copper and aluminum and they have, at room temperature, many electrons for conduction. Insulators These are materials which do not conduct. For insulators, there is a very large gap between the two bands i.e. conduction and valence bands. Insulators can only conduct at extremely high temperatures or when they are subjected to very high voltage. Examples of insulators are, wood, glass, paper and mica. Semiconductors: These materials are between conductors and insulators. They are neither conductors nor insulators. They can easily conduct at room temperatures. Examples of these materials are silicon and germanium. Intrinsic semiconductors: These are pure semiconductors since the content of impurity is minimal. These materials are cautiously refined to achieve this form of purity. When intrinsic se miconductors are subjected to room temperature, valence electrons absorb heat energy breaking the covalent bond and move to conduction band. Electrons and holes conduction In intrinsic semiconductors, holes and free electrons are the major charge carriers. Holes and electrons which are generated at room temperatures move in a random motion and can’t conduct any current. ... This allows electric current to flow as a result of electrons movement in the conduction band. The motion of holes in semiconductors is opposite to that of electron. As a result of electrons escape from valence band to conduction band, holes are created in the valence band. When current is applied the electron break and moves to feel the holes present, at the same time this electron leaves another hole and this process continues. The movement of these holes in the valence band leads to current flow referred to as whole current. Extrinsic Semiconductors Small amounts of other materials are added to intrinsic semiconductor to alter the properties and this result to extrinsic semiconductor. This is process of adding an impurity to improve the conductivity of the semiconductor is referred to as doping. The materials used as impurities are called dopant. These semiconductors are the most widely used in practice since they have better conductivity compared to intrinsic semiconductors and a re used in manufacture of electronics components such as transistors and diodes. There are two types of extrinsic semiconductors and each depending on the type of impurity used. They are n-type and p-type. N- Type Atoms with five electrons in their outer most shell are referred to as pentavalent atoms. When these pentavalent atoms are used to dope intrinsic semiconductors, they donate a free electron to the semiconductor and they are called donor dopers. Examples of donor materials are phosphorous, arsenic and bismuth. The resulting semiconductor has a large quantity of free electrons and is called n-type semiconductor. Example of n-type semiconductor formation is when arsenic atom with five electrons on the outermost shell combines with silicon with four

Contract Law Case Study Example | Topics and Well Written Essays - 1000 words

Contract Law - Case Study Example If Y makes an offer to Z, it is a specific offer and Z is the only person who can accept it. But in many cases, it is immaterial to whom the offer is made. Offers made by advertisement are the commonest form of offers made to the world at large, and can be accepted by anyone by acting on them. 2 For this case, Igor made an offer through advertisement and it was to be accepted by anyone who acted on the advertisement. Jonquil acting on the advertisement accepted the offer through the post in an acceptance letter he wrote on January 29th. The advertisement said that anyone accepting to the offer must reply to the Ritz Hotel in London by February 1st. A contract had already been entered into between Igor and Jonquil immediately a letter of acceptance was posted. It is immaterial that Igor sold the guitar since he had not received any acceptance from Jonquil. The acceptance is considered complete immediately the letter of acceptance is posted, even if it is lost or destroyed in the post so that it never arrived. As long as the offeree can prove that he posted the letter of acceptance, the court will enforce the contract. b) Ali had made a contract between him and Blessing Builders for a fixed price of 5,000 but when the repair of the kitchen was half way finished Ali added them a further 700 since he heard the they were likely to abandon the work since they had under priced the job. It is immaterial for Ali to fail to pay them the extra 700 he had added them just because he lost money on the stock market. The extra 700 he added to encourage them to complete the repair of the kitchen had not been attached to any condition that failure of not making enough money on the stock market, would make him not pay them the extra amount. For this case, Blessing Builders should be paid their promise of an extra 700 since it was not attached to any condition. It is immaterial that he is failing to pay them since he made losses on the stock market. For this case, Blessing Builders may sue Ali for damages. Ali should not withhold the extra 700 he promised to give Blessing Builders upon completion of repairing the kitchen. 4 c) On the case where Neil was advised by his uncle to leave Manchester where he worked as an insurance clerk to undertake a dentist course as he give him monthly allowances, the uncle should be sued for breach of contract. Neil enjoyed a full social life in Manchester as he worked as an insurance clerk. His uncle disrupted his social life by advising him to take a dentist course in London as he promised to give him monthly allowances while studying. For this case, there was an intention to create

Beethoven- family Essay Example | Topics and Well Written Essays - 250 words

Beethoven- family - Essay Example This placed a lot of pressure on Beethoven at the young age of 17 because he took it upon himself to look after his two younger brothers. Because there was little family income, Beethoven began playing viola in the court orchestra; this provided him with enough to take care of himself, his alcoholic father, and his two younger brothers. A few months after Beethoven left the family home to once again pursue his music career, he learned of his father’s death. Later on in his life, Beethoven’s younger brother, Carl, died from tuberculosis. Beethoven had contributed a great deal while Carl was ill. After his brother died, Beethoven attempted to gain custody of his nephew (Carl’s son), Karl, but Carl’s wife, Johanna, refused to allow Beethoven to do so. A long and bitter legal dispute followed, with Beethoven eventually granted sole custody. Beethoven was very controlling of Karl’s activities. Perhaps as a result of this treatment, Karl attempted suicide but did not succeed. After this, Karl recuperated under the care of his mother, and Beethoven had little contact with Karl until his death in March of

3.Deaths and serious injuries at work could be cut dramatically if the Essay

3.Deaths and serious injuries at work could be cut dramatically if the penalties for breaches in the legislation were higher and individual managers and direct - Essay Example of injuries and deaths that could happen in a industry, as well as the reasons why the injury and deaths happen, how can it be addressed and finally what are the changes that will be visible, if the causes are addressed. Unison of humans with an urge to usher an organization into a leading ‘utopia’ will be a successful endeavor, if the humans show unified, undaunted, unabated and unabashed conduct. And, if all the ‘parts’ of an organization, which include the workers and the departments, conduct this way, they can be fully utilized to have ubiquitous presence all over the world. So, it is similar, to how all the body parts or organs function unison ly to help a human survive, study, search, succeed etc. But, ironically when the body parts of the worker itself gets affected including the physical body and the mental part, due to the events that take places inside an organization or in a workplace, then the concept of unison will be unfulfilled. This could happen when the tragedies of injury and death takes place in the workplace. Nichols (1997) has shown how the term ‘industrial injuries’ should be preferred to the term ‘industrial accidents’ since variations in their rates are not random, but vary with determinant conditions, particularly with changes in the intensification of labour. The injury and the resultant death can be classified into four types aaccording to the nature of the injury. That is, how the injury or death happened is crucial and based on the frequency of the injury and death, it is classified. The classification comprises of injury and death due to fall from heights, injury and death that happens when workers are struck by moving or falling objects, likewise by moving vehicle and finally by the trapping that takes place due to collapse and overturning. â€Å"There is a small but important corpus of work on the sociology and social history of industrial injury and illness† (Bloor 2002). From the table given, one can understand