Economic Development of Greece Essay Example | Topics and Well Written Essays - 3000 words

Economic Development of Greece - Essay Example Economic development attempts to find the reasons behind the labour differences between countries or it may analyse why certain countries have higher levels of foreign investments compare to others. (Gills, 1996) Government policies normally involve efforts made by the government of the day to improve overall economic indicators. Governments can do this with the aim of reducing high unemployment rates, increasing their tax rates, instituting stable prices within the economy or expanding the tax rates. Governments can achieve this through tax policy adjustments, regulating their financial institutions and changing their fiscal policies for the better. Infrastructural policies on the other hand normally involve the use of programs aimed at making public services and infrastructure better. This is done through building affordable houses, introducing better educational facilities, reducing crime rates, building roads and many others measures./ Lastly, economic development can also be achieved through employment creation. Governments normally need to direct their efforts towards specific industries in any of the following areas; marketing, business expansion, business retention, real estate development, finance, technology transferred among other things. (Todaro, 1997) During the decade 70s, The Greek government em... They started with the introduction of uranium exploitation efforts in the northern part of their country. Their mission was to develop this sector so that they could reduce their inflation rates. Additionally, the Greek government wanted to improve their financial status through this project. By developing their natural resources, the country would curb the need to import some of these minerals and they would also get an outlet for generating more revenue. Greece was endowed with a number of resources. First of all, the country had oil reserves; secondly, it was rich in lignite. But before the seventies, Greece was not taking full advantages of these two mineral resources. The government passed laws that would facilitate greater exploitation of those minerals. These aggressive measures caused decreased balance of payments and inflation rates. This is because the country minimised its dependence on imports and substitute these with its own products. In relation to this, Greece decided that their currency would not be measured against the United States dollar. Proponents of this change claimed that they were trying to make their local currency stronger. On top of this, it was also supposed to include other development partners in the Greek currency. The decision to de-link the US dollar from their currency was made in the year 1975. (Embassy of the United States, 2007) In the next decades (1980s and 90s), the Greek government decided to move towards privatisation. In the early nineties, these efforts paid off, the country recorded a Gross Domestic Product of thirteen and fifteen percent. That period of time saw the transformation of twenty eight companies from public to private institutions. At that time, the government tried to

Water Is Invaluable Essay Example for Free

Water Is Invaluable Essay â€Å"Water is the driving force in nature.† The importance and beauty of water in our body There are many benefits water could offer to our body: It can give us healthy skin Our skin is always hungry for water and we must always provide it in order for it not to be looking dry, dull and no life. Water has proven that it can remove lines on our skin because if you feed your skin with water, it now hydrated and if it is hydrated, the cells will be awakened and will look young and radiant. That is why people who’d rink plenty of water have a radiant and glowing skin. It even made them younger looking. If you also want to correct your complexion, drink plenty of water. It will not change your complexion suddenly but it will make it even that will look even better. Water could also brighten our eyes and can avoid us from looking tired and exhausted. A simple cold compression could decrease eye inflammation brought by fatigue, lack of sleep and eye strain due to work. Make it a habit that every night you must cold compress your eyes in order for you to look fresh and radiant all the time. It can help us achieve a healthy body One reason that a person looks fat and heavy is mainly because of water retention brought by the foods they eat most especially salty and junk foods. Water accumulates in the certain parts of their body and would form a cellulite which is not good to look at. So, if you want to minimize cellulites and extra weight, avoid eating salty instead, drink plenty of water because you may still excrete it. Soaking in a hot bath or having a hot shower could lead to a better and  relaxing sleep as well because it relaxes our nerves and system that will lead to a good night’s sleep. Improves hair Drinking enough water could improve dryness of the hair because it could add to the hair moisture. Due to too much pollution, dust and humidity, we cannot really avoid that we could get a dry and coarse hair. But with the help of water, our hair could still improve its shininess and texture. It could contribute to a better digestion Drinking a lot of water could facilitate a good digestion which will lead to a normal bowel elimination. A normal bowel elimination considered to be healthy because you take out all the toxins and bad bacteria in our body. Now, you have discovered the beauty and importance of water in our lives. Starting now, we should not take for granted water because it could really work wonders for us and could contribute to the total wellness of our body. It could really make a difference in our lives because it works beautifully.

Systematized Integration of Credit Reference Agencies

Systematized Integration of Credit Reference Agencies Table of Contents (Jump to) Abstract Introduction The Problem Case Studies/Examples Nigeria Tanzania Kenya Uganda Solutions/Synthesis Conclusion With unprecedented growth and an increasingly competitive global community on the horizon, Africa’s economic revolution is intimately linked to their fiscal capabilities. It is within this broad spectrum of economic expansion that businesses and individuals are directly linked to their capacity to borrow and reinvest capital into sustainable endeavors. African nationals have endured centuries of political and economic turmoil, finally reaching a precipice from which to launch a reformative program which supports internal growth and global competition. Credit reference agencies play an intricate role in this restructuring, as provision of finance is entirely dependent on their historic records and the collaborative efforts of the loosely knit African banking community. This paper explores examples of internal frailties within the credit system and proposes solutions towards overcoming inadequate resources through systematized integration of credit reference agencies. As the British and French colonists sailed away from Africa’s northern shore, they left behind their legacy, one of tumult and uncertainty. The development of Africa’s political and economic structure in the wake of colonial oppression has been a difficult and war-stricken path, one which remains uncertain and ambiguous today. Ultimately, however, in order to support some of the world’s most populated regions, the foundation for economic security and opportunity must be laid and supported. Recognizing that the incidence of poverty throughout Africa is unacceptable and consistently counterproductive, the inefficiencies within the African conglomerate system demand revision; and through dramatic reform mechanisms, sustainable industry and globally directed participation will ensure that African nationals are given an opportunity to escape their impoverished existence. Yet there remain a wide range of conflicting solutions, many of which are directly related to the very colonial heritage which placed African countries in this predicament to begin with. The future of economic growth for these citizens is directly linked to the available funding which can be proffered for development of business and expansion of industry. Currently, funding methods are limited to informal requisition stemming from the family and friends of entrepreneurs seeking materials and startup capital. As banks hoard their capital in light of the extremely high number of historic defaults which they have endured, the industry must turn to more strategic methods of evaluating the potential recipient and continue to expand their lending operations. There is a pervasive lack of credit reference agencies throughout the African continent which continues to detract from bank confidence levels and the availability of funding for activation of economic growth. Given the competitive nat ure of the global environment, inspiring industrial advances should be at the forefront of governmental strategy as in order to maintain the recent financial successes which have sustained incremental poverty reduction, participation on a global scale is becoming a necessity. In spite of the hesitation and challenges which surrounds the creation of translatable credit reference agencies, the future of the African national depends on the wealth of information which they will come to retain. As enterprise is directly dependent on available investment funds, participants continue to seek methods of revenue generation, and through well-informed credit outlets, the participative nature of expanding economics will enable entrepreneurs and businesses to expand their berth and actively compete on a much more even playing field. As Africa as a whole continues to struggle against rampant economic instability, popular theories recognize a variety of insufficiencies, including lack of available infrastructure, inadequate educational facilities and programs, and limited health care opportunities as main failures within the collaborative regime. There is, however, another piece of the African economic puzzle which has yet to evolve to meet modern competitive expectations, and that is the systematized inclusion of credit reference agencies and their foundation support mechanisms in the development of commerce and private finance. From a historic perspective, the early development of credit initiatives in Sub-Saharan Africa was entirely localized to a protective function of selective credit allocation. It was within this framework that central banks and government controlled credit mechanisms were strictly regulated, leading to substantial economic decline in the ‘80’s and ‘90’s (McDonald and Schumacher, 2007). Ultimately, banking institutions were used as a domestic funding mechanism for government programs and initiatives; however, this reduction of financial resources meant a limited availability of capital for private borrowers and desirous businesses. As developing economies evolve rapidly through a structure of industry generation, perhaps the most important component is found within the definitive walls of small to medium enterprise (SME’s), and their inclusion in growth and capital contribution is essential to stabilize a burgeoning economy (Quintyn, 2008). African economies developed in spite of lackluster credit programs, as government borrowing reformed dramatically to include the much more liquid and readily available foreign capital market in addition to foreign aid. Beraho (2007) cites the colonial legacy as a direct determinant of the modern economic frailties of Sub-Saharan Africa. Ultimately, the influence of colonial overseers was immediately entrenched in the assumed economic structure during periods of instability following the post-colonial independence. The extreme poverty which accompanied post-colonial activity left African nations rich in natural resources but limited in capacity for export and financial generation. In response, domestic debt, a form of government sustenance, has been credited with substantial reduction of available capital for lending purposes. Across Sub-Saharan Africa, the ratio of debt to broad money has held constant at 40%, dramatically reducing available financial resources for financing and supp orting private initiatives (Christensen, 2004). Escaping the confines of such imbalances has been a slow and difficult process; however, as foreign aid programs and the World Bank become increasingly involved, reform is slowly achieved. Mylenko (2008) notes that given the stabilization of the African macroeconomy as well as lower inflation and improved government treasury monitoring and regulation, banks have been increasingly able to turn towards lending opportunities. Africa is represented by the world’s most rapidly growing, yet equitably expiring population, and is limited by inefficiencies in their structural systems as they are characterized as â€Å"the world’s hardest working yet least productive† people (Kolo, 2006, p. 596). It is from this inefficient system that severe poverty has overwhelmed a diverse and frustrated people and continued limitations spawn from inappropriate fiscal programs and activities. There is a sustained movement towards more supportive programs, and much of the fiscal evolution over the past decades in Sub-Saharan Africa has been regulated and guided by intra-national monetary unions. Participants in the WAEMU (West African Economic and Monetary Union) include Benin, Burkina Faso, Cote D’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. Other monetary unions include the WAMZ (West African Monetary Zone) represented by Gambia, Ghana, Guinea, Nigeria, and Sierra Leone, as well as the CEMAC (Economic and Monetary Union of Central Africa) inclusive of Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, and Gabon. It is extremely important to recognize these collaborative monetary efforts given the expanding nature of modern credit reference agencies, as bank collaboration intra-monetarily is a direct representation of the expansionary reality which demonstrates potential for additional corroboration. Analysis of performance in dicators over the history of these African Monetary Unions offers substantial implications for other developing nations. Comparatively, the average inflation differential equates to between 8 and 10 percentage points lower in comparison to other low to medium income nations (Gosh et al., 2006). Interestingly, researchers equate the majority of this reduction to monetary discipline, while approximately twenty percent is relative to international confidence levels given the combinative national participation (Gosh et al., 2006). The development of private finance over the past decade has occurred as a direct result of revised fiscal policies throughout the African continent including the combined efforts of multi-national partnerships. There remains, however, a significant piece of the credit market puzzle which has yet to evolve into a supportive and extensively viable practice, and that is the creation and practice of credit reference agencies. The nature of such entities is one from which both consumer and lender confidence is fully integrated into the business cycle and default is directly undermined by the framework of the system itself. Data demonstrates that the issuance of private sector credit in Sub-Saharan Africa declined in a period between 1980 and 2004 from 15.6 percent of GDP to 15.1; comparatively, growth rates in Asia more than doubled, elevating private sector credit levels to over 40 percent of GDP, and in Latin America, incidence grew by over 50 percent, elevating levels to over 20 percen t of GDP (â€Å"Regional Economic Outlook: Sub-Saharan Africa,† 2008). There exists a pitfall of significant registry deficiency which continues to detract from the participative efforts of banks and credit reference agencies. Given the nature of Africa’s structural evolution, emphasis has slowly begun to shift towards national registries which incorporate accurate reference for mortgages and property data so as to accurately integrate collateral data into the developing structure of credit agencies (Sacerdoti, 2005). Ultimately, these registries are essential to establishing a standardized framework of collateral and credit reform. McDonald and Schumacher (2007) have determined that there is a complimentary relationship between credit issuance and the strength of creditor rights, namely the culpability and recoup potential given the incidence of default. As much of African credit heritage is characterized by default, there is little room for modern programs to allow continued systematic failures. The nature of credit reference agencies opportune an evolve structure from which to ensure compliance and stabilize a deviant legacy of poor payment history. The challenges which face Africa begin with its current lack of structural capacity, namely registration, standardized policy and legislation, and the volatile nature of government organizations. To overcome the credit crisis and define an effective program, evolution of African economic structures including opportunities for entrepreneurs and SME’s will be essential parts of the rehabilitiation. One method which has already generated support and shown long term successes is that of microenterprise and microfinance loans. Rhyne and Otero (1994) recognize that in spite of the arbitrary nature of its definition, that microenterprise is generally accepted as a company with less than ten employees and is relegated to the non-agricultural sector of the business community. Additionally, these businesses are oftentimes a source of income which arise where no alternative method for financial gain is available. Given the extreme impoverishment within the African borders, implementing s upportive programs is an essential tactic, one which will offer long term stability and positive reform mechanisms for a needy and desirous population. This paper seeks to identify some of the more prominent systematic failures within specific African infrastructures through specific case studies and devise strategy for evading, manipulating, and evolving such systems to meet financial demand and overcome the credit dilemma. Ultimately, the solutions herein recognize the necessity of credit reference agencies and through the integration of such programs, solutions can be drawn from which to prioritize their sustainability. As integrating credit bureaus and agencies into a frail infrastructure is a long term goal, identifying the key areas of potential failure prior to inception is essential to prudent and productive creation. Ultimately, the findings of this paper determine that given the nature of globalized capitalism, credit reference agencies offer a singular solution from which to pull Africa from the depths of poverty and define its prosperous multinational future. While foreign aid and government reform will assist to waylay many of Africa’s social problems, the only true option for overcoming extreme economic difficulties is through supportive initiatives which redistribute opportunities for wealth among the people who truly need sustainable financial sustenance. In order to ensure that such distribution is appropriately allocated, the historic nature of the credit reference agency will ensure that banks and credit corporations have adequate reference from which to offer the necessary funds for generation of commerce and industry. The following section represents a sample set of a diverse grouping of African participants. Each of these nations has undergone periods of remarkable recovery yet remains limited in this credit reference agency participation. While developmentally exploiting both natural and human resources to overcome the throes of poverty, these nations have yet to fully extract their legacy from the limiting factors which have undermined social and economic efforts for the past decades. Nigeria Nigeria represents a nation of over 144,700 million inhabitants of which over 54 percent currently live in abject poverty (World Bank, 2008). Endeavoring to stabilize their vacillating economy, government leaders have embarked upon a process of economic reform and consolidation over the past decade with decidedly positive results. Much of the evolution of this economy owes its legacy to the rising oil prices and increased exports in this area as demand continues to pay dividend to a resource rich Nigerian population. Unfortunately, there are other limiting constraints which continue to undermine rapid economic evolution on a broad scale, and as the population continues to grow at an annual rate of over 2.4%, there remains significant opportunity for developing internal modes of sustenance and advanced and sustainable industries to push the Nigerian economy forward (World Bank, 2008). Exemplary of the limiting factors now facing the Nigerian people, the lack of a substantial credit system, and importantly, credit reference agency, has historically undermined entrepreneurial efforts and small to medium enterprise, the keys to sustained economic growth. Before the 2005 consolidation period, over 20% of loans made by Nigerian banks were non-performing, as opposed to the remarkable decline of this negative incidence to just over 8.4% in 2007 (Corbett, 2008). It is a direct result of this negative outlook towards loan participants that the Credit Reference Company of Nigeria has been created in past years which utilizes a network of 11 banks to standardize the systematic handling of customer information and credit history. Pre-consolidation Nigerian banks could not fund long term projects due to their short term capital capabilities, in recent years, this process has now evolved to include 10-20 year loans, thereby enabling infrastructural development and social reform (Corbett 2008). As the majority of Nigerian nationals have limited desire to trust their savings to the banking system, much of the evolution over the past years has required significant adjustment in public perspective and a necessary increase in consumer confidence. In Nigeria, private sector credit and banking deposits have doubled since the 2005 banking consolidation and the number of banking branches have increased by over one third (IMF Country Report, 2008). As a testament to the efforts at financial modernization, the expansion of this banking network is a direct indication of a necessitated communication network, one which has the capacity to share consumer information and at the same time, retain the privacy of these participants. Indicative of the evolving perception regarding credit and modern purchasing methods, in 2004, Nigeria recorded less than 50,000 credit card transactions per month as opposed to the remarkable growth to over 51,000,000 per month that were recorded in March of 200 8 (â€Å"Nigeria; The Rise of the Card Payment System,† 2008). Yet these charges are not representative of an extension of credit and simply attest to the acceptance of electronic payment processing as inhabitants continue to support alternate modes of payment. Unfortunately, in spite of bank and economic reform, poverty levels are holding at approximately 55 percent of the Nigerian population, further exacerbated by limited resources available given the rising population and under capitalized infrastructural reform (IMF Country Report, 2008). It is within the incapacitated growth mechanisms that Nigerian credit reference agencies are most needed, as funding unprecedented reform requires the capabilities which can only be imbued through finance and bank funding mechanisms. Recognizing the SME’s hold a key to Nigerian development, there is continued support for credit based initiatives from which to extend financial opportunities to these developing industries. The IFC (International Finance Corporation), a World Bank affiliate continues offer its partnership as Nigeria strives to develop and maintain consumer data, their efforts intimately linked with the economic future of the nation. Tanzania Tanzania, a much smaller nation than Nigeria, is represented by a population of over 39.5 million inhabitants, over 36 percent of whom live below the poverty line (World Bank, 2008). Equally representative of the reformation efforts of developing African countries, Tanzania has endeavored to undergo structural evolution in the past few decades, actively pursuing economic opportunity for its population who continues to expand by around 2.6 percent annually. One of the most significant failures within the Tanzanian system has been the lack of property registry. The World Bank (2005) reported that 90 percent of nationals could not be located through property registry and only had six national offices at their disposal for registry purposes, each fraught with unnecessary and â€Å"irrelevant red tape.† Given this lack of registry foundation, there is little collateral leverage to be gained by participating in government registration programs, therefore, citizens do not find overwh elming motivation or desire to legalize their claims to land. Additionally, the World Bank (2005) notes that there is limited liquidity of property rights for similar reasons of registration difficulties and obscure transference policies, therefore, entrepreneurs have limited opportunity to leverage their properties and gain the initial financing needed for startup capital. Characteristic of more widespread African credit issues, only 4 percent of respondents in a recent survey claimed access to trade credit as a source of start-up finances, thereby placing all required resources directly at the informal level and limited to a partnered initiative between friends and private investors (Sharma and Upneja, 2005). This failure within the credit system is directly related to the lack of credit reference agencies and the supportive information they could provide; however, given the state of the Tanzanian recording structure, there seems to be a much more pressing issue of registry and records to overcome before such projects can become a reality. In addition to the failure to support corporate trade credit, there is an overall limitation which is obvious when considering the widespread state of Tanzanian credit. More formal data recognized private credit initiatives at 8 percent of GDP in 2005; however, comparatively Kenya’s private credit in the same period was over 23 percent of GDP (World Bank, 2005). The lack of lending directly correlates to the lack of creditor rights and available, traceable collateral for loans. As default rates continue to undermine any efforts towards credit system evolution, there remains a substantial field of doubt which overwhelms banks and their lending efforts. Given the disconnect between small businesses and reception of credit from Tanzanian banks, the ability to start and maintain a business in the modern environment is extremely limited and continues to be undermined by a lack of capital. Most concerning is that given the lack of external funding, disposable income or working capital is thereby reintegrated into the business and utilized for daily refurbishments as available. Tanzanian business owners are therefore limited by both the economic factors which drive the success of their business, and their own personal integration into the business operations through consummation of personal finance, lack of new equipment and materials, and inability to improve upon current models to evolve standards to more modern efficiencies (Sharma and Upneja, 2005). These failures are a direct result of the Tanzanian credit crisis and requite the inclusion of a well positioned credit reporting agency in order to ensure that SME’s have sustaine d opportunities for generating much needed investment capital. One of the most remarkable advances which has sustained the fleeting, but evolving stability that is becoming visible within the Tanzanian infrastructure is the adjustment of government funding from domestic lending to foreign sources and foreign aid (Sharma and Upneja, 2005; World Bank, 2005). Eliminating this form of consequential taxation on bank reserves has expanded the Tanzanian opportunity for investment and greater private funding. Unfortunately, characteristic of other African nations, a lack of any form of credit reference agency prevents broad based credit dispersion among citizens and thereby limits loans to corporations and larger scale economic participants. Tanzania currently has plans to develop and establish an operational credit reference databank by the end of June, 2009 in order to extend credit into the private sector. The extension of private credit is currently projected to increase around 22 percent per year yet is entirely linked to governmental stability and internal mechanisms of fiscal policies (â€Å"United Republic of Tanzania: Third Review Under the Policy Support Instrument,† 2008). The nature of finance is derived from available resources which can be distributed for a nominal return. Given the current state of government spending, this opportunity is more realistic today than it has ever been; however, the Tanzanian government must evade the pitfalls of internal borrowing in order to enable these funds to be distributed among industrial participants, thereby facilitating the expansion of industry and inclusion of additional commerce in the resource limited business sector. Kenya Kenya is a nation of similar size to Tanzania, boasting a population of just over 36.6 million people, yet over 55.5 percent of these inhabitants live below the poverty line (Population Reference Bureau, 2008). Most significant in Kenya’s modern history, political unrest and lacking economic growth have continued to undermine efforts of reform and population support mechanisms. Credit considerations are simply another indication of the limited capabilities which a tumultuous nation has to overcome its financial and social deficits. In 2003, over one third of all bank loans were considered non-performing (NPL’s), directly undermining the lending power of institutions, as well as enhancing the proclivity for default among participants (â€Å"Kenya: Bankers Unveil Plan to Keep Tabs on Borrowers,† 2007). In spite of the frail political economy, currently the development of a credit reference bureau is in its advanced stages, as recognizing the merits of such collabor ative information sharing, Kenyan banks actively seek to minimize risk and improve their loan to repayment ratios. Remarkably, in Kenya, over recent decades exceptional opportunities have evolved for entrepreneurial credit extension as startup capital and materials costs represent a substantial portion of business success ratios. Kenyan extension of credit is significantly higher than other African regions as over 85 percent of businesses currently have opportunity to borrow from their providers (World Bank, 2004). These surveyed corporations, while a representation of Kenyan businesses, offer an optimistic perspective on the future of industry and finance. Given the relative youth of the Kenyan population with 4 out of every 10 citizens being under the age of 15, there is substantial opportunity to ensure that financial resources are available for these growing future business owners (Population reference Bureau, 2008). Ultimately, Kenya presents a fairly optimistic outlook for the future of credit extension and opportunities for broad scale industrial financing; however, the completion and full integration of their credit reference bureau stands to offer the most reliable statistics after its inception later this year. Uganda Uganda, a nation of 29.9 million citizens, has continued to experience substantial population growth over the past decade, holding near 3.2 percent, a number significantly advanced from other referenced African nations (World Bank, 2008). Of significant concern to the development of a progressive Ugandan infrastructure, trade credit plays an intricate part in sustaining emerging business and defining industrial evolution. Current statistics demonstrate that only 60 percent of firms have access to this capital as material providers must, themselves, be supplied with the external financial means from banking institutions to extend such credit (World Bank, 2004). When firms are afforded the opportunity to borrow directly from banking institutions, the interest fees associated with such loans are oftentimes overwhelmingly costly and therefore, detract from the efficacy of such endeavors. Overwhelmingly, the inadequacies within the Ugandan credit structure can be directly attributed to a lack of credit tracking mechanisms, and thereby, the capacity for benchmarking and substantiation of creditworthiness. Researchers note that over 40 percent of all loans held in Uganda have a maturity date of one year or less; and of those firms who to receive loans, over 60 percent of all participants are required to post collateral as a loan prerequisite (World Bank, 2004). Essentially, this extreme precedence of default aversion represents an obvious inadequacy in the Ugandan credit reporting system, as given more stringent standards and a confluence of bank participants, protection mechanisms would become fully integrated with the reporting system, providing a deterrence net to reduce defaults through natural and appropriate fiscal processes. Characteristic of many African nations, the pervasive nation of credit doubt in terms of default and repayment potential is an indication of the necessity for credit reference agency construction. As lenders seek to develop new streams of available capital, Ugandan SME’s represent an expanding opportunity, however, they will require support from struc tural evolution in order to ensure their continued operation. There are extreme challenges presented by the African credit woes, most of which will not be overcome through foreign aid or current infrastructure development programs. Indicated by the nations herein, there is substantial need for integration of credit reference agencies into the structure of these modernizing nations; specifically, there is a need for support of small to medium enterprise and the merits of developing an economy through advanced and evolving industry. Ultimately, determining a singular solution to the credit crisis is impossible, however, by coupling several key zones of evolution into a targeted plan of action, the potential for sustained advancement becomes a much more plausible reality. Quintyn (2008) noted that other developing nations who have evolved through similar credit challenges have utilized a form of hub and spoke credit agency system from which to operate these units with limited startup capital required for each branch. In its â€Å"Regional Economic Outlook† (2008), the IMF recognizes that there is a need for leveraged reference agencies, specifically those who are sustained by a technologically advanced central hub yet localize their economy of scale operations in areas of public access. Given the limited nature of credit agencies, a hub and spoke system would reduced the cost of a credit report by $ 2-5 and allow firms the opportunity to extend credit more freely given the support base of their regional offices. The IMF (2008) also recognizes that current credit offerings are only 200,000 people out of every 15 million, a direct result of a lack of credit data and agency interaction within the modern banking structure. In order to overcome the geographical, political, and economic constraints which undermine the constructs of a successful African credit program, the continuity of credit reporting policies across geographic lines must be maintained. While banking unions have taken the initiative to link participants, there remain additional opportunities for broad scale communication expansion and technically advanced sharing techniques which protect both the consumer and the bank from fraud. In spite of the banking cooperatives which are integrated into the Western and Central African economic structures, there remains a difficult framework for monetary exchange outside of these conglomerates. Pervasive in widespread Sub-Saharan fiscal analysis, the necessity of a central banking structure continues to challenge unorganized methods of bank-dominated financial systems. The application of such a combinative operation is one which would assist in the integration of regional credit reference agencies with centralized control mechanisms. This transformation of the informal structure into a more systematized and coordinated pragmatism would generate synergies between monetary policy and banking oversight, thereby establishing a supervisory committee while propagating a bank dominated industry (Quintyn, 2008). The central oversight which is lacking in terms of African banks is basically a function of communicable objectives, a framework which is essential when considering the n ature of investing in economic futures. African capacity for growth is readily foreseeable, however, there must be an active pursuit of this evolution, one which directly integrates the unique partnerships of a banking network and captures communicative data which is readily available across geographic lines. There is a continued deficit within the African lending structure, one which demands reform and challenges banks to contin

Do The Right Thing :: essays research papers

The first scene begins with a close up shot of Senor Love Daddy's mouth, the top of a microphone, and an alarm clock. The alarm clock, being used as a prop, is making a very loud, annoying, ringing sound. This is done in order to get the viewers attention to the problem of racism. After the ringing stops, we start reframing in, and zooming out slowly, seeing more of Senor Love Daddy and the microphone. There is hard lighting present in the scene. The entire shot has a reddish color to it. A slow zoom and the reddish color are used to show the viewer how hot the setting of the movie is. The color also reflects tension, conflict, anger, and frustration, things that are not being expressed in the film yet. As we are zooming out, Senor Love Daddy says "Wake up, wake up, wake up†¦" This part of the scene is also is intended to get the viewers attention to the problem of racism. The foreground and some of the middle ground are in shallow focus. This is a get in your face type of shot, letting the viewer know that this movie will be in your face for the next two hours and that the viewer better pay attention to the problem at hand: racism. This shot is solely for the viewers, to get their attention. We stop zooming out once we see the whole microphone. At that point, we start tracking out and the camera starts moving slowly up, via a crane. We now see the reflection of the street outside Senor Love Daddy's workplace, on the glass window Senor Love Daddy is facing. We also see hats of many different cultures sitting Senor Love Daddy's desk. This shows that he respects many different cultures and shows he is a very open person. Also Senor Love Daddy's workplace is street level. He talks to all the characters in the movie like Mookie, Radio Raheem, and the people playing outside with the fire hydrant. This shows he is willing to communicate with the neighborhood and also show once again that he is a very open person. He is always looking outside the window at the community. Senor Love Daddy is not hiding from anybody. He is the voice of the neighborhood. The camera continues moving up on a crane until it is at an high angle, and we start panning to the left.

Ralph Abernathy: A leader of the Civil Rights Movement

Being a prominent leader during the Civil Rights movement was a perilous position to occupy. Very few people have the guts to make themselves the face of a movement, and even fewer succeed at it. Ralph Abernathy was an American Civil Rights activist who advocated equality alongside Martin Luther King Jr. and many others. Ralph Abernathy strived to help establish a more equal and welcoming America for all.Abernathy went on a journey to help change the way America is today and help create a more equal America for all, regardless of race or ethnicity. Ralph Abernathy began gaining the skills to be a leader at a young age, and exemplified those skills by leading multiple demonstrations. Ralph Abernathy was born on March 11, 1926, in Linden, Alabama. He was born into a time of social inequality and race segregation. Abernathy served in the United States Army during WWII and served as a platoon Sergeant, leading his own group of soldiers. After being discharged from the Army, he enrolled a t Alabama State University (ASU).While attending ASU he began to notice how the university was segregated. He gained fame when he started his first demonstrations, protesting the lack of heat and hot water in his dormitory and the dreadful food served in the cafeteria. Later, in 1951, he was called to the Civil Rights Movement when he became the pastor of the First Baptist Church in Montgomery, Alabama. As pastor he mentored Martin Luther King Jr. as a minister of a nearby church. They formed a close friendship that would carry on for the rest of their lives.Abernathy developed a leadership role from the start of his life which helped lead him into his role as one of the biggest Civil Rights advocates America had ever had. Abernathy organized, created, and lead multiple different protest and organizations to help the Civil Rights Movement. One of The biggest protests he organized was the Montgomery Bus Boycott. Abernathy organized it with the help of Martin Luther King Jr. and toget her they lead the biggest boycott of the whole Movement. â€Å"It was decided that black people in Montgomery would refuse to use the buses until passengers were completely integrated† (Simkin).This protest was his call to action and one of his main contributions to the movement. Another one of Abernathys main contributions to the Civil Rights Movement was that he founded the Southern Christian Leadership Conference (SCLC). Martin Luther King Jr. was president of the organization and Abernathy was secretary treasurer.   They worked together in helping to desegregate America and  teaching people how to stand up for themselves and protest non- violently. The biggest trial that Abernathy went through was when his church was â€Å"sieged† by white supremacists. 1,500 men and woman were surrounded and Abernathy was willing to give himself up to save the innocent people stuck in the church.Ultimately, he did not end up sacrificing himself, but this was also a test of his character. â€Å"Over the next few years Abernathy was arrested nineteen times† (Simkin). Abernathy proved himself to be a dedicated, powerful, and resourceful leader. As the Civil Rights Movement progressed, Abernathy's role became a less dire. When Martin Luther King Jr. was assassinated, Abernathy took over the role as president of the SCLC. Ralph Abernathy led â€Å"daily demonstrations in May and June 1968, just a month after King's assassination† (Kirkland). Some of the important last demonstrations he led were the: Poor Peoples March in Washington D.C. in May, 1968, Atlanta sanitation workers strike in 1968, and lastly the Charleston Hospital workers strike in 1969.Abernathy retired his position as president of the SCLC in 1977. He then ran for a spot in the Georgia Congressional Seat. He was unsuccessful in the running yet continued advocating peace until his retirement. Abernathy's journey came to an end and he retired his title as a leader of the Civil Right s Movement. To conclude, Ralph Abernathy was a dedicated Civil Rights Activist who advocated equality and justice for all. Alongside many others, he accomplished impressive feats that once seemed unreachable. He went on a journey towards helping America become a more equal country. He was tested to his limits and proved himself to be a worthy, dedicated, and powerful leader.

How American Hisotry X Relates to Political Science Text Think American Government

Lisa _______________ Professor _______________ Political Science 02 Due April 3, 2013 SUMMARY American History X was written by David McKenna and directed by Tony Kaye. Starring Edward Norton as Derek Vinyard, the film was released in 1998. The main idea of the film is the social and political issues of racism. It is a story of how a family is affected by one son’s view of the history of race roles in America, his life within the neo Nazi culture, and finally, after resigning himself to such a lifestyle due to prison reformation, his attempt to pull his younger brother from the same way of violent life.Ultimately, it is a story of the cycles of hate surrounding racism. The film is shown in non-linear narrative where events are given out of chronological order. When going back in time, the audience is given black and white film whereas the present is portrayed in color. Danny Vinyard, is given an assignment to write an essay on the incarceration of the main character, his older brother, Derek. The essay was to entail what led up to the incarceration and how his family was affected. The verbal reflection of his essay is when the audience is shown the film presented in black and white.Also during the verbal reflection, we find out that Derek was incarcerated for the murder of 2 Black thieves who were trying to steal the truck left to him by his late father who was killed by, not without intent of the writer, a Black man a few years prior. With that, the storyline is set up so that we know why Derek and Danny have turned to a life of neo Nazism and why Derek was given a 3 year sentence for going overboard in killing the thieves: the brothers have been affected by the criminality of the Black culture.The essay assigned to Danny, which was due the following day, was an assignment given by Danny’s Black principal after his Jewish teacher reported a questionable essay to him entitled My Mein Kampft. In the 24 hours in which the essay is being written, and narrated to the viewers, we learn the entire story of the brothers’ journeys from average kids, through neo Nazism and back, only to learn their lesson too late when Danny is fatally struck down by a former Black recipient of his race hatred, essay still in hand.American History X correlates to the discussions of the class as well as various points of the class textbook, Think American Government. The film backs up two class discussions thus far in the semester: Khalil Muhammad’s theory on Black criminality in America in addition to Bryan Stevenson’s ideas on the stigma of mass incarceration attached to the Black culture in America.The film also touches on political issues from the text, such as: immigration, the first amendment to The United States Constitution, and Hate-Crimes Legislation. Khalil Muhammad: The timeline of the film literally goes back 24 hours; flashes back 3 years; and historically traces back to both 1863 and 1865 when, respectively, the Ema ncipation Proclamation was signed (proclaiming slaves in Confederate territory to be free forever) and when the first Ku Klux Klan (KKK) was organized.Some may even argue that the story goes back to the beginning of slavery in the United States colonies because those were the first racist acts of early America and upon which America was formed. Khalil Muhammad, a current day Black historian, might argue that the plot of this film traces back to the moment when, in 1865, following the Civil War, European immigrants were given opportunities by the government to stray from their acts of criminality but recently freed Black people were not.Instead, as Muhammad asserts in a Bill Moyers interview, as well as his book, Condemnation of Blackness, Black people were sent to ghetto housing to sort their criminality out on their own, whereas White European immigrants were given social welfare and job opportunities because they were, as Muhammad states, thought of as â€Å"children of Americans who need our help†, but Blacks were thought of as â€Å"naturally morally inferior and had propensity to harm people or steal†.American History X mimics this way of American ideology when Derek preaches, â€Å"We're so hung up on this notion that we have some obligation to help the struggling Black man, you know. Cut him some slack until he can overcome these historical injustices. It's crap. I mean, Christ, Lincoln freed the slaves, like, what- 130 years ago? How long does it take to get your act together? † If Derek had read Damnation of Blackness, he would understand Muhammad’s theory that it has been 130 years (from the end of Civil War to the making of the film) of a race in America that has ontinued to be downtrodden and imprisoned through actions such as Black Codes, Stop and Frisk policy, and the â€Å"invention of the criminal justice system as a repressive tool to keep black people in their place†. That is a hard battle to win. Derek migh t also understand how he fits into Muhammad’s theory that the European race has ideologies of an institutionalized Black race when Derek complains, â€Å"One in every three Black males is in some phase of the correctional system. Is that a coincidence or do these people have, you know, like a racial commitment to crime? † Bryan Stevenson:Not only does such a statement back up Muhammad’s theory about American ideologies, but it also touches on Bryan Stevenson’s argument. In Stevenson’s interview conducted by Bill Moyer, Stevenson states that in order to change the notion that the Black man is a criminal, we must understand the history from where it stems, and we must care about human rights and dignity while we remember that all of our survival â€Å"is tied to the survival of everyone. That our visions of technology, design, entertainment and creativity have to be married with the visions of humanity, compassion and justice†.Derek’s r ant about Black males in the correctional system oozes with Stevenson’s idea that the power of criminality identity among Black culture ultimately came from how American government and Europeans have stigmatized the Black race. In the scene where Derek finds himself in his prison cell begging African American Principal Sweeney to help him, it is not until Sweeney replies, â€Å"Has anything you’ve done made your life better? † that Derek sees the light and begins to make a change toward a life outside neo Nazism. This is a perfect example of the power of identity which is Stevenson’s underlying idea to his theory.Immigration: The writers of American History X touch on the illegal immigration topic as does the text, Think American Government, in chapter 1. The textbook says that, â€Å"critics (of illegal immigrants) charge that undocumented workers drive down wage rates for American citizens† (15). In the film there is a scene in which Derek gives a lecture to his neo Nazi peers on the subject of illegal immigrants to pump them up to terrorize a neighborhood store that has been taken over by a Korean owner who replaced the American workers with 0 illegal immigrants: â€Å"It’s about the hardworking Americans falling through the cracks and getting the shaft because their government cares more about the constitutional rights of†¦Ã¢â‚¬  illegal immigrants. However, the textbook lends a contrasting thought stating â€Å"advocates contend that the United States benefits from†¦ illegal immigration. They argue that undocumented workers take jobs that citizens do not want and that they pay more taxes than they receive in government services† (15). It is also worth noting the difference in illegal immigrant statistics from when the film was released in 1998 until now.According to the U. S. Department of Homeland Security (DHS) â€Å"2,830,000 illegal immigrants resided in California in 2011 compared to 2. 5 million in 2000. † In the same scene, Derek states, â€Å"There’s over 2 million illegal immigrants bedding down in (California) tonight†¦ $400 million just to lock up a bunch of illegal immigrant criminals†¦Ã¢â‚¬  In an article by BakersfieldNow. com on May 25, 2011, it was estimated, using data from California Department of Corrections and Rehabilitation from 2010, that California now spends $1 billion on illegal immigrant prisoners compared to the time the movie was released. irst amendment & Hate-Crimes Legislation: Another point worth noting, from when the movie was released in 1998 until now, is hate-crime laws. Within the Bill of Rights, the first ten amendments to the United States Constitution added in 1791, Amendment 1 states, â€Å"Congress shall make no law†¦ abridging the freedom of speech†¦Ã¢â‚¬  (363). Although the first amendment protects freedom of speech, it is not legal to use freedom of expression during an act of hate crime. The textbook states â€Å"in recent years, many states have adopted hate-crimes legislation, enhancing penalties for persons convicted of crimes motivated by bias† (69).Interestingly, Obama signed a bill in 2009 which was rooted by two hate-crimes of 1998, the year American History X was released, but it was before the movie that the Hate Crimes Statistics Act of 1990 came into effect. According to USA Today, in an article published October 28, 2009 and entitled â€Å"Obama Signs Hate-crimes Law Rooted in Crimes of 1998†, the Matthew Shepard and James Byrd Jr. Hate Crimes Prevention Act expanded the existing Hate Crimes Statistics Act of 1990 and mandated that it is against the law to attack any person â€Å"based on sexual orientation or gender, in ddition to race, color, religion or national origin†. Matthew Shepard was a gay teenager beat by two Wyoming men in October of 1998, after which he was tied to a fence where he died. In June of the same year, James B yrd Jr. , an African American man, was chained to a truck by three white men in Texas and dragged to his death. Notably, as the text explains increased penalties are given for those charged with hate-crimes, Derek only received 3 years for his hate-crime in the film.In conclusion, I would recommend the film to anyone interested in wanting to broaden their horizons on the race wars in America. I thought it was prudent that Derek verbally gave the stereotypical views of hate mongers in America, but it would be interesting to see how Khalil Muhammad and Bryan Stevenson might add their theories to the dialogs of the Jewish teacher or the Black principal to show America a way of thinking that I believe is not in the public eye as much as it should be. Perhaps a film should come our way from those two aforementioned?

Literacy Narrative Essays - American Writers, Writers, Free Essays

Literacy Narrative Essays - American Writers, Writers, Free Essays Kennedy Sims @02839811 Literacy Narrative Growing up, reading and literature was always something that was subtly but definitely emphasized in my household. Although this was the case, I don't ever recall being that interested later on in my educational career, but I was always great at it. When it comes to writing and literacy the clearest picture that comes to mind is my experiences before high school. This is the stage in my life when I knew that it was something that I had a distant love for, but the individuals set to teach me this material weren't adequately informed on the subject themselves. My most significant memories of reading always bring me back to the summer time. Every Tuesday and Thursday all I can remember is walking into my local library with my mom and picking out as many books as I could carry, hoping they would be enough for the top prize that week. My library had a summer reading program that I would always participate in and these books would be what would carry on my love for literature and readin g for many years, it became tradition. Although I don't remember specific details or stories about these interactions, I do know the feeling that it gave me: to win that iPad in 6th grade for reading the most books, to win those prizes after turning in dozens and dozens of books I had read and wrote about over the summer, to be the student picked out of the crowd to read the school announcements over the speakers because I was just that good at it. It made me feel great to know that I was actually good at something I loved to do. Not until recently did I realize that all these experiences helped shaped my current mindset about literature and its conditions. Everything began in junior high school. I would come into my 6th grade homeroom every day, ecstatic to see my teacher Mrs.Tonad, and ready to learn whatever she was going to teach that day. Mrs. Tonad was the first and only teacher that I had that made me feel great about reading and literature because it was obviously something that she loved to do. Her love for the subject made teaching it to her students, that much easier. She made the comparison with other teachers who taught the subject that much harder. Being in her class was the primary reason I won the reading competition for that year because she was the person who motivated me to do so. That's when I knew that the things that I was being introduced to in the classroom didn't have to stay there, I didn't need a teacher to learn; and that's when books really became my best friend. This new-found discovery of reading for my own enjoyment soon dwindled down as I transitioned from junior high to high school. Throughout high school, I often felt disconnected from the material that was being taught because it had no real meaning in my life. It didn'tmatter to me if I understood it or not because I didn't see why or how it was important.The standard curriculum in literature that was taught in my school never really matched the African American demographic that it was being taught to, and as a result left many kids feeling the way I did. One of the things that made me confirm this notion was the testimony of one of the focal writers in the article Mahiri Sablo: "Writing For Their Lives", Keisha. Keisha let researchers know that the main inspiration for her piecescame from the things around her, things that she experienced in her everyday life. I believe that this is very important in determining what matters to children being taught in school. How much of the curriculum actuallyrelates to us? Voluntary writing should be just that, voluntary, but the subjects discussed in school are not alwa ys interesting because they don'trelate to children learning it. Another example that comes to mind when discussing perspective and subjectivity in the class room is Jacqueline Royster's essay in "Visons and Cyphers". After reading Royster's essay in David E. Green Jr's "Visons and Cyphers", I realized that the things