International Refereed Journal of Engineering and Science (IRJES)
Ad hoc & sensor networks, Adaptive applications, Aeronautical Engineering, Aerospace Engineering
Agricultural Engineering, AI and Image Recognition, Allied engineering materials, Applied mechanics,
Architecture & Planning, Artificial intelligence, Audio Engineering, Automation and Mobile Robots
Automotive Engineering….
This letter from Greek Finance Minister George Papaconstantinou requests completion of the third review and approval of additional funds under Greece's IMF bailout program. It summarizes recent progress made in meeting fiscal and structural reform targets. It also lays out plans to finalize a medium-term budget strategy by April to further reduce Greece's deficit in a sustainable manner, including sector-specific reform plans to achieve an additional 8% of GDP in savings by 2014. The letter requests conversion of existing targets to performance criteria and proposes new structural benchmarks to support public sector, tax, and banking reforms.
γράμμα πρόθεσης του γιώργου παπακωνσταντίνουirisld
This letter from Greek Finance Minister George Papaconstantinou requests completion of the third review and approval of additional funds under Greece's IMF bailout program. It summarizes recent progress made in meeting fiscal and structural reform targets. It also lays out plans to finalize a medium-term budget strategy by April to further reduce Greece's deficit in a sustainable manner, including sector-specific reform plans to achieve an additional 8% of GDP in savings by 2014. The letter requests conversion of existing targets to performance criteria and proposes new structural benchmarks to support public sector reforms, tax administration, bank funding plans, and privatization.
This letter from Greek Finance Minister George Papaconstantinou requests completion of the third review and approval of additional funds under Greece's IMF bailout program. It summarizes recent progress made in meeting fiscal and structural reform targets. It also outlines plans to finalize a medium-term budget strategy by April to further reduce the deficit and ensure fiscal sustainability, including sector-specific reform plans targeting an additional 8% of GDP in savings by 2014. The letter requests conversion of existing targets to performance criteria and proposes new structural benchmarks.
This document analyzes the efficiency of commercial banks in Tanzania from 2008 to 2011 using data envelopment analysis. It finds that large banks were more efficient than small banks over this period, with technical efficiency ranging from 54-79% for large banks and 65-70% for small banks. Under variable return to scale, large banks had higher pure technical efficiency levels than small banks, though both experienced declining efficiency from 2008 to 2011. The document concludes that inefficient use of resources contributed to the relatively low efficiency of commercial banks in Tanzania and that banks could improve by better utilizing existing resources and reducing operating expenses.
This document summarizes a study that examined the effects of implementing International Public Sector Accounting Standards (IPSAS) on public sector financial management in Nigeria. The study found that IPSAS explained about 11.2% of the variation in public sector financial management. It was statistically significant that IPSAS implementation affects public sector financial management in Nigeria. However, challenges remain in fully implementing IPSAS in Nigeria, including the costs associated with identifying government assets and providing training. The document provides background on traditional public sector accounting standards, the meaning of the public sector and public financial management, and reviews literature on IPSAS, its challenges and implementation.
Myanmar first citizen's budget 2015 for 52 yearsMYO AUNG Myanmar
On 30 November, Spectrum received the Myanmar government’s 2015-16 Citizen’s Budget as part of the Ministry of Finance’s public distribution of 5,000 copies. To the best of our knowledge, the last Citizen’s Budget in Myanmar was released in 1963-64 – more than five decades ago. Spectrum is delighted that a Citizen’s Budget has been released. Together with UNICEF, our team developed a companion guide to the Citizen’s Budget called “Budget Guides for Growing Citizens” to support the introduction of national financial management to school students. The logic is that it is never too early to teach active citizen’s about their economic and social rights and about financial transparency and accountability. As the young girl character in the cartoon books voices: “now I understand that the nation’s wealth is our money!” Informed citizens will be the key driver for national transparency and accountability. In the chapter on "National Budget Transparency" in the 2012-2105 Framework for Economic and Social Reform (FESR), budgets are discussed as a critical link for citizen participation in democratic processes of national development. It highlights that “international experience certainly shows that civil society engagement can significantly improve budget processes, decisions and outcomes and thus transform the lives of people.” It continues “international experience also demonstrates the critical importance of at least eight key budget documents being released to the public and made available for discussion, namely the pre-budget statement, executive’s budget proposal, enacted budget, Citizens’ Budget or guide to the budget for citizens, in-year reports, mid-year review, end-year report, and audit report.” As a quick win, in the FESR the government committed to “consider preparing, publishing and making easily accessible for citizens as many of these reports as possible.” For Myanmar the public availability of a Citizen’s Budget represents special progress. The government has actually produced six of the eight key budget documents, but they have not been released or published in an accessible or timely way. Timely public release of budget reports can greatly improve Myanmar’s Open Budget Survey. Myanmar scored 0 out of 100 in 2012 and 2 out of 100 in the 2015 survey. Despite these low scores, very rapid improvement is possible. A good example of “timely release” seems to be Myanmar’s first Extractive Industries Transparency Initiative (EITI) report. The draft report was made available to representative civil society groups on 8 December, in advance of discussion in the Multi-stakeholder Group (MSG) on 18 December. It is due to be published and submitted to the EITI Secretariat by 1 January 2016.
Research Interests: Democracy, Myanmar, Government transparency, military impunity in Myanmar, and myanmar budget
The document summarizes opportunities for engaging Tanzania's diaspora given the country's economic and financial development over the past 50 years. Specifically:
1) Tanzania has achieved macroeconomic stability and strong GDP growth following financial sector reforms in the 1990s.
2) This stability and ongoing reforms to infrastructure, agriculture, and business environment present opportunities for diaspora engagement through investments, remittances, and trade.
3) The government is taking further measures to deepen financial markets and ease access for diaspora investments in areas like housing, SMEs, and government securities.
Financial management reforms and the economic performanceAlexander Decker
This document summarizes a research study that examined the impact of financial management reforms on the economic performance of public sector entities in Kenya from 2007/2008-2011/2012. The study found that financial reforms achieved more than half of intended performance targets over the period. Budgetary reforms had the strongest relationship to performance indicators, followed by accounting reforms, while audit reforms did not significantly impact performance. The study concludes that more emphasis should be placed on budgetary and accounting reforms to improve economic performance in the public sector.
This letter from Greek Finance Minister George Papaconstantinou requests completion of the third review and approval of additional funds under Greece's IMF bailout program. It summarizes recent progress made in meeting fiscal and structural reform targets. It also lays out plans to finalize a medium-term budget strategy by April to further reduce Greece's deficit in a sustainable manner, including sector-specific reform plans to achieve an additional 8% of GDP in savings by 2014. The letter requests conversion of existing targets to performance criteria and proposes new structural benchmarks to support public sector, tax, and banking reforms.
γράμμα πρόθεσης του γιώργου παπακωνσταντίνουirisld
This letter from Greek Finance Minister George Papaconstantinou requests completion of the third review and approval of additional funds under Greece's IMF bailout program. It summarizes recent progress made in meeting fiscal and structural reform targets. It also lays out plans to finalize a medium-term budget strategy by April to further reduce Greece's deficit in a sustainable manner, including sector-specific reform plans to achieve an additional 8% of GDP in savings by 2014. The letter requests conversion of existing targets to performance criteria and proposes new structural benchmarks to support public sector reforms, tax administration, bank funding plans, and privatization.
This letter from Greek Finance Minister George Papaconstantinou requests completion of the third review and approval of additional funds under Greece's IMF bailout program. It summarizes recent progress made in meeting fiscal and structural reform targets. It also outlines plans to finalize a medium-term budget strategy by April to further reduce the deficit and ensure fiscal sustainability, including sector-specific reform plans targeting an additional 8% of GDP in savings by 2014. The letter requests conversion of existing targets to performance criteria and proposes new structural benchmarks.
This document analyzes the efficiency of commercial banks in Tanzania from 2008 to 2011 using data envelopment analysis. It finds that large banks were more efficient than small banks over this period, with technical efficiency ranging from 54-79% for large banks and 65-70% for small banks. Under variable return to scale, large banks had higher pure technical efficiency levels than small banks, though both experienced declining efficiency from 2008 to 2011. The document concludes that inefficient use of resources contributed to the relatively low efficiency of commercial banks in Tanzania and that banks could improve by better utilizing existing resources and reducing operating expenses.
This document summarizes a study that examined the effects of implementing International Public Sector Accounting Standards (IPSAS) on public sector financial management in Nigeria. The study found that IPSAS explained about 11.2% of the variation in public sector financial management. It was statistically significant that IPSAS implementation affects public sector financial management in Nigeria. However, challenges remain in fully implementing IPSAS in Nigeria, including the costs associated with identifying government assets and providing training. The document provides background on traditional public sector accounting standards, the meaning of the public sector and public financial management, and reviews literature on IPSAS, its challenges and implementation.
Myanmar first citizen's budget 2015 for 52 yearsMYO AUNG Myanmar
On 30 November, Spectrum received the Myanmar government’s 2015-16 Citizen’s Budget as part of the Ministry of Finance’s public distribution of 5,000 copies. To the best of our knowledge, the last Citizen’s Budget in Myanmar was released in 1963-64 – more than five decades ago. Spectrum is delighted that a Citizen’s Budget has been released. Together with UNICEF, our team developed a companion guide to the Citizen’s Budget called “Budget Guides for Growing Citizens” to support the introduction of national financial management to school students. The logic is that it is never too early to teach active citizen’s about their economic and social rights and about financial transparency and accountability. As the young girl character in the cartoon books voices: “now I understand that the nation’s wealth is our money!” Informed citizens will be the key driver for national transparency and accountability. In the chapter on "National Budget Transparency" in the 2012-2105 Framework for Economic and Social Reform (FESR), budgets are discussed as a critical link for citizen participation in democratic processes of national development. It highlights that “international experience certainly shows that civil society engagement can significantly improve budget processes, decisions and outcomes and thus transform the lives of people.” It continues “international experience also demonstrates the critical importance of at least eight key budget documents being released to the public and made available for discussion, namely the pre-budget statement, executive’s budget proposal, enacted budget, Citizens’ Budget or guide to the budget for citizens, in-year reports, mid-year review, end-year report, and audit report.” As a quick win, in the FESR the government committed to “consider preparing, publishing and making easily accessible for citizens as many of these reports as possible.” For Myanmar the public availability of a Citizen’s Budget represents special progress. The government has actually produced six of the eight key budget documents, but they have not been released or published in an accessible or timely way. Timely public release of budget reports can greatly improve Myanmar’s Open Budget Survey. Myanmar scored 0 out of 100 in 2012 and 2 out of 100 in the 2015 survey. Despite these low scores, very rapid improvement is possible. A good example of “timely release” seems to be Myanmar’s first Extractive Industries Transparency Initiative (EITI) report. The draft report was made available to representative civil society groups on 8 December, in advance of discussion in the Multi-stakeholder Group (MSG) on 18 December. It is due to be published and submitted to the EITI Secretariat by 1 January 2016.
Research Interests: Democracy, Myanmar, Government transparency, military impunity in Myanmar, and myanmar budget
The document summarizes opportunities for engaging Tanzania's diaspora given the country's economic and financial development over the past 50 years. Specifically:
1) Tanzania has achieved macroeconomic stability and strong GDP growth following financial sector reforms in the 1990s.
2) This stability and ongoing reforms to infrastructure, agriculture, and business environment present opportunities for diaspora engagement through investments, remittances, and trade.
3) The government is taking further measures to deepen financial markets and ease access for diaspora investments in areas like housing, SMEs, and government securities.
Financial management reforms and the economic performanceAlexander Decker
This document summarizes a research study that examined the impact of financial management reforms on the economic performance of public sector entities in Kenya from 2007/2008-2011/2012. The study found that financial reforms achieved more than half of intended performance targets over the period. Budgetary reforms had the strongest relationship to performance indicators, followed by accounting reforms, while audit reforms did not significantly impact performance. The study concludes that more emphasis should be placed on budgetary and accounting reforms to improve economic performance in the public sector.
Lao PDR: Public Expenditure Mangement Review 2008Jean-Marc Lepain
The document discusses public finance management reforms in Lao PDR. It notes that while macroeconomic indicators have improved, the public finance system suffered during an economic crisis and wage bill pressures limit spending. It highlights the need to [1] improve expenditure efficiency and alignment with strategy, [2] address challenges from inflation and slowing growth, and [3] reform center-province fiscal relations to increase revenue and realign spending. The document reviews progress on a public expenditure management strengthening program and identifies pending issues to discuss with stakeholders.
Problems in the System of Public Financial Control and Directions for Their S...ijtsrd
This article clarifies the concepts of financial control and public financial control. The article also analyzes national and foreign experience in the organization of public financial control. Based on the analysis, problems in the system of public financial control were identified and proposals for their elimination were developed. Abidov Mansur Ilhomjonovich "Problems in the System of Public Financial Control and Directions for Their Solution" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd46408.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/46408/problems-in-the-system-of-public-financial-control-and-directions-for-their-solution/abidov-mansur-ilhomjonovich
The Italian economy has experienced negative GDP growth for three consecutive years and prospects for 2015 suggest only a timid recovery. The Italian government is committed to addressing structural weaknesses through an ambitious reform agenda focused on job creation, competitiveness, growth, and debt sustainability. Recent reforms have reformed the labor market, improved public administration efficiency, reformed the civil justice system, deregulated credit markets, simplified taxes, and reformed education. Upcoming months will see further reforms implemented according to a timeline. Fiscal policy aims to support growth while reducing debt through tax cuts and more efficient spending on priorities like R&D, innovation, education and infrastructure. The government is determined to advance its reform agenda with support from EU institutions.
The document summarizes key details from the Union Budget for 2016-17 presented by the Finance Minister in India. Some highlights include:
- The budget emphasized growth in agriculture and infrastructure while aiming to reduce the fiscal deficit.
- It focused on rural development, social reforms, and job creation while trying to balance rural and industry needs.
- The Indian economy is estimated to grow at 7.6% in 2015-16, driven by private consumption and fixed investment. Inflation declined while the services sector grew strongly.
- Exports and imports declined in 2015-16 due to global factors, though the current account deficit fell as well due to remittances and capital inflows.
This document provides an overview of investment opportunities in Turkey. It discusses Turkey's location and climate, population and political divisions, legal system, and economic environment. Key points include:
- Turkey is located at the crossroads of Europe and Asia and has a diverse landscape and climate.
- It has a population of over 72 million people and a young and growing workforce. The government is a parliamentary democracy.
- The legal system was influenced by European codes and protects foreign investors' rights.
- Turkey has a large, growing economy and aims to join the EU. It has liberalized international trade and privatized state enterprises. Major industries include manufacturing, services, and tourism.
- The document outlines
The Nexus between Fiscal Decentralization and Economic Growth: Evidence from ...RSIS International
Panel Vector Auto Regression is used to examine the
impact of financial decentralization on economic growth in
seventeen sub-national governments (SNGs) in India taking data
from 2000-01 to 2014-15. We find the positive impact of
decentralization on the economic growth of SNGs with feedback
effect.
The document discusses Botswana's 2010/11 budget and the economic challenges it faces. It notes that mineral revenues, which make up 60% of total revenues, declined significantly due to falling global demand and prices during the economic crisis. This has resulted in a tight fiscal space. The budget projects a deficit of 12.2% of GDP for 2010/11, down slightly from 15% previously, but policy should continue emphasizing low deficits and debt to support investment and creditworthiness. A high deficit and debt are problematic as they can reduce investment and fiscal flexibility. The budget aims to balance development and recurrent spending despite constraints.
The four dimensions of public financial managementicgfmconference
In two relatively short articles, Michael Parry first proposes a definition of the modified cash basis of accounting and then describes the four dimensions of public financial management. We welcome this approach of relatively short articles addressing key issues in governmental financial management and would encourage other authors to follow Michael’s example in future issues.
Financial Administration Bangladesh Chapter 5Arif Hasan
This document provides an overview of fiscal policy and administration in Bangladesh. It discusses the functions of the Ministry of Finance, which oversees financial institutions and plans public expenditure policies. It also describes fiscal policy tools like taxation, government spending, and borrowing that influence macroeconomic variables. The effects of fiscal stances like expansionary and contractionary policy on aggregate demand, employment and inflation are summarized. Methods of funding government expenditure through taxation, borrowing, prior surpluses or asset sales are also outlined.
- Estonia weathered the recent economic crisis well due to fiscal adjustments introduced during the recession that allowed it to avoid a fiscal collapse. This included running budget surpluses in previous years that provided reserves.
- The economic recovery has been faster than expected, leading to higher than planned budget revenues in 2010. This means the budget deficit will be lower than targeted at 1.3% of GDP rather than 2.8%.
- For 2011, budget revenues are expected to increase 2% while expenditures rise 5%. This would result in a budget deficit of 1.6% of GDP, still below the 2% limit set in Estonia's budget strategy. Estonia is in a strong fiscal position compared to
Multiple Regression Analysis of Chinese Economic Factors Based on Stata Rifat Ahsan
This document is a report on multiple regression analysis of Chinese economic factors using Stata software. It includes an introduction covering the background, objectives, methodology and limitations of the study. It then provides a profile of China with information on its geography, population, economy and government. The report discusses the World Bank's Governance Indicators which measure six dimensions of governance for countries, including political stability, government effectiveness, regulatory quality, rule of law and control of corruption. It performs multiple regression analyses with China's GDP and inflation rate as dependent variables and the governance indicators as independent variables.
The 2018 Annual Report of Ukraine's Ministry of Finance Reform Support Team describes progress made on public administration reforms. Key accomplishments include:
1) Establishing a project management framework and launching 4 pilot projects using this approach within the Ministry of Finance.
2) Supporting the setup of the EU4PFM program, including recommending a quality management system to align processes with strategic goals.
3) Improving internal communications and cooperation through a new communication framework for the Ministry of Finance.
The strategic plan outlines three strategic goals for the Ministry of Finance of Ukraine from 2018-2021:
1) Increase the efficiency of allocation and use of budget funds.
2) Create transparent, effective, and fair tax and customs systems that contribute to economic development and comply with EU standards.
3) Develop a financial system that supports macroeconomic stability, effective financial monitoring, and uses resources to support economic development.
The plan analyzes the current situation for each strategic goal and identifies 13 objectives and related activities to achieve the goals over the next three years. Key areas of focus include medium-term budget planning, fiscal risk management, budget transparency, tax system efficiency, and ensuring financial sector stability.
Treasury Single Account policy is a Public Financial Management reform under the world bank that
came into full force in Nigeria in the year 2015, this was aimed at addressing impediments to effective cash
management within the Federal Government.
Definition of investment strategy for sustainable development of regional eco...SubmissionResearchpa
This article is discussed that the theoretical foundations of determining the investment strategy for sustainable development of the region’s economy, as well as the current situation, analysis and future plans. by Rakhimberdiev Oybek Alisher ugli 2020. Definition of investment strategy for sustainable development of regional economies. International Journal on Integrated Education. 2, 4 (Mar. 2020), 108-115. DOI:https://doi.org/10.31149/ijie.v2i4.241. https://journals.researchparks.org/index.php/IJIE/article/view/241/234 https://journals.researchparks.org/index.php/IJIE/article/view/241
The document summarizes an OECD Economic Survey of Spain. It finds that while the Spanish economy has returned to growth following recession, the key challenge is to boost growth and reduce unemployment significantly through productivity and competitiveness gains. This will require reducing public and private debt, improving labor market policies, and reforms to promote business entry and growth. The survey recommends continuing fiscal consolidation, shifting taxes from labor to consumption, improving insolvency procedures, strengthening active labor market policies, raising innovation quality, and further developing the business sector.
This document summarizes the budget formulation process in Finland. It discusses key aspects of the process including the role of coalition agreements, the annual budget calendar, discussions between the Ministry of Finance and spending ministries, and government decisions on spending limits. While Finland has made significant progress reducing deficits, the summary notes opportunities to strengthen the process through a more formal medium-term expenditure framework and greater Ministry of Finance involvement in coalition negotiations.
The Italian real estate market is showing signs of recovery after reforms implemented by the Italian government aimed at stimulating growth. Major transactions in 2015 involved foreign investors acquiring assets in Milan and Rome. Office properties and hotels were the most attractive asset classes, while retail investments focused on northern Italy. Competition for quality assets led to declining prime yields across major asset types as the Italian market becomes more attractive to foreign real estate investors.
The document discusses fundamental analysis at the economic, industry, and company levels. It begins by explaining how fundamental analysis examines economic data, industry supply and demand forces, and company financials and management to determine a company's intrinsic value. It then provides details on various factors analyzed at each level, including key economic indicators like GDP, inflation, and interest rates; industry classification; and financial metrics reviewed for individual companies.
Do Regional Finance Accountability And Budgetary Composition Enhance Regional...inventionjournals
Accountability is pivotal factor in the implementation of successful good governance since accountability is an indicator whether public fund is spent properly or not. Another relevant factor is budgetary composition more particularly local tax revenue and capital expenditure due to their correlation with public service. Empirical evidence showed that regional finance accountability affected regional economic performance measured using the Supreme Audit Board opinion and the amount of saved fund had negative and significant influence towards Gross Regional Domestic Product. On the other hand, budgetary surplus had positive and significant influence towards the Gross Regional Domestic Product. Budgetary composition and regional expenditure improved regional economic performance measured using local tax revenue and capital expenditure that have positive and significant influence towards Gross Regional Domestic Product.
Personal Debt Annual Conference Slide ShowDJODonovan
The document summarizes the Law Reform Commission's recommendations regarding personal debt and insolvency law in Ireland. It discusses establishing a non-judicial debt settlement arrangement process as an alternative to bankruptcy that allows over-indebted individuals to repay debts over 5 years through an arrangement approved by creditors. It also recommends reforms to streamline and make the bankruptcy process less punitive, and establishing a centralized Debt Enforcement Office to oversee the enforcement system.
The candidate enjoys working with people and computers, problem solving, and being creative. They have strong communication skills and experience working both independently and as part of a team. The candidate has expertise in various computer programs and operating systems, and enjoys learning new skills. Currently they produce promotional materials, manage social media, design posters, and provide IT support at their organization. They also analyze data and create reports to help improve services. The candidate's goals include further developing skills, redesigning websites, promoting the organization, researching improvements, and helping shape its future.
Lao PDR: Public Expenditure Mangement Review 2008Jean-Marc Lepain
The document discusses public finance management reforms in Lao PDR. It notes that while macroeconomic indicators have improved, the public finance system suffered during an economic crisis and wage bill pressures limit spending. It highlights the need to [1] improve expenditure efficiency and alignment with strategy, [2] address challenges from inflation and slowing growth, and [3] reform center-province fiscal relations to increase revenue and realign spending. The document reviews progress on a public expenditure management strengthening program and identifies pending issues to discuss with stakeholders.
Problems in the System of Public Financial Control and Directions for Their S...ijtsrd
This article clarifies the concepts of financial control and public financial control. The article also analyzes national and foreign experience in the organization of public financial control. Based on the analysis, problems in the system of public financial control were identified and proposals for their elimination were developed. Abidov Mansur Ilhomjonovich "Problems in the System of Public Financial Control and Directions for Their Solution" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd46408.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/46408/problems-in-the-system-of-public-financial-control-and-directions-for-their-solution/abidov-mansur-ilhomjonovich
The Italian economy has experienced negative GDP growth for three consecutive years and prospects for 2015 suggest only a timid recovery. The Italian government is committed to addressing structural weaknesses through an ambitious reform agenda focused on job creation, competitiveness, growth, and debt sustainability. Recent reforms have reformed the labor market, improved public administration efficiency, reformed the civil justice system, deregulated credit markets, simplified taxes, and reformed education. Upcoming months will see further reforms implemented according to a timeline. Fiscal policy aims to support growth while reducing debt through tax cuts and more efficient spending on priorities like R&D, innovation, education and infrastructure. The government is determined to advance its reform agenda with support from EU institutions.
The document summarizes key details from the Union Budget for 2016-17 presented by the Finance Minister in India. Some highlights include:
- The budget emphasized growth in agriculture and infrastructure while aiming to reduce the fiscal deficit.
- It focused on rural development, social reforms, and job creation while trying to balance rural and industry needs.
- The Indian economy is estimated to grow at 7.6% in 2015-16, driven by private consumption and fixed investment. Inflation declined while the services sector grew strongly.
- Exports and imports declined in 2015-16 due to global factors, though the current account deficit fell as well due to remittances and capital inflows.
This document provides an overview of investment opportunities in Turkey. It discusses Turkey's location and climate, population and political divisions, legal system, and economic environment. Key points include:
- Turkey is located at the crossroads of Europe and Asia and has a diverse landscape and climate.
- It has a population of over 72 million people and a young and growing workforce. The government is a parliamentary democracy.
- The legal system was influenced by European codes and protects foreign investors' rights.
- Turkey has a large, growing economy and aims to join the EU. It has liberalized international trade and privatized state enterprises. Major industries include manufacturing, services, and tourism.
- The document outlines
The Nexus between Fiscal Decentralization and Economic Growth: Evidence from ...RSIS International
Panel Vector Auto Regression is used to examine the
impact of financial decentralization on economic growth in
seventeen sub-national governments (SNGs) in India taking data
from 2000-01 to 2014-15. We find the positive impact of
decentralization on the economic growth of SNGs with feedback
effect.
The document discusses Botswana's 2010/11 budget and the economic challenges it faces. It notes that mineral revenues, which make up 60% of total revenues, declined significantly due to falling global demand and prices during the economic crisis. This has resulted in a tight fiscal space. The budget projects a deficit of 12.2% of GDP for 2010/11, down slightly from 15% previously, but policy should continue emphasizing low deficits and debt to support investment and creditworthiness. A high deficit and debt are problematic as they can reduce investment and fiscal flexibility. The budget aims to balance development and recurrent spending despite constraints.
The four dimensions of public financial managementicgfmconference
In two relatively short articles, Michael Parry first proposes a definition of the modified cash basis of accounting and then describes the four dimensions of public financial management. We welcome this approach of relatively short articles addressing key issues in governmental financial management and would encourage other authors to follow Michael’s example in future issues.
Financial Administration Bangladesh Chapter 5Arif Hasan
This document provides an overview of fiscal policy and administration in Bangladesh. It discusses the functions of the Ministry of Finance, which oversees financial institutions and plans public expenditure policies. It also describes fiscal policy tools like taxation, government spending, and borrowing that influence macroeconomic variables. The effects of fiscal stances like expansionary and contractionary policy on aggregate demand, employment and inflation are summarized. Methods of funding government expenditure through taxation, borrowing, prior surpluses or asset sales are also outlined.
- Estonia weathered the recent economic crisis well due to fiscal adjustments introduced during the recession that allowed it to avoid a fiscal collapse. This included running budget surpluses in previous years that provided reserves.
- The economic recovery has been faster than expected, leading to higher than planned budget revenues in 2010. This means the budget deficit will be lower than targeted at 1.3% of GDP rather than 2.8%.
- For 2011, budget revenues are expected to increase 2% while expenditures rise 5%. This would result in a budget deficit of 1.6% of GDP, still below the 2% limit set in Estonia's budget strategy. Estonia is in a strong fiscal position compared to
Multiple Regression Analysis of Chinese Economic Factors Based on Stata Rifat Ahsan
This document is a report on multiple regression analysis of Chinese economic factors using Stata software. It includes an introduction covering the background, objectives, methodology and limitations of the study. It then provides a profile of China with information on its geography, population, economy and government. The report discusses the World Bank's Governance Indicators which measure six dimensions of governance for countries, including political stability, government effectiveness, regulatory quality, rule of law and control of corruption. It performs multiple regression analyses with China's GDP and inflation rate as dependent variables and the governance indicators as independent variables.
The 2018 Annual Report of Ukraine's Ministry of Finance Reform Support Team describes progress made on public administration reforms. Key accomplishments include:
1) Establishing a project management framework and launching 4 pilot projects using this approach within the Ministry of Finance.
2) Supporting the setup of the EU4PFM program, including recommending a quality management system to align processes with strategic goals.
3) Improving internal communications and cooperation through a new communication framework for the Ministry of Finance.
The strategic plan outlines three strategic goals for the Ministry of Finance of Ukraine from 2018-2021:
1) Increase the efficiency of allocation and use of budget funds.
2) Create transparent, effective, and fair tax and customs systems that contribute to economic development and comply with EU standards.
3) Develop a financial system that supports macroeconomic stability, effective financial monitoring, and uses resources to support economic development.
The plan analyzes the current situation for each strategic goal and identifies 13 objectives and related activities to achieve the goals over the next three years. Key areas of focus include medium-term budget planning, fiscal risk management, budget transparency, tax system efficiency, and ensuring financial sector stability.
Treasury Single Account policy is a Public Financial Management reform under the world bank that
came into full force in Nigeria in the year 2015, this was aimed at addressing impediments to effective cash
management within the Federal Government.
Definition of investment strategy for sustainable development of regional eco...SubmissionResearchpa
This article is discussed that the theoretical foundations of determining the investment strategy for sustainable development of the region’s economy, as well as the current situation, analysis and future plans. by Rakhimberdiev Oybek Alisher ugli 2020. Definition of investment strategy for sustainable development of regional economies. International Journal on Integrated Education. 2, 4 (Mar. 2020), 108-115. DOI:https://doi.org/10.31149/ijie.v2i4.241. https://journals.researchparks.org/index.php/IJIE/article/view/241/234 https://journals.researchparks.org/index.php/IJIE/article/view/241
The document summarizes an OECD Economic Survey of Spain. It finds that while the Spanish economy has returned to growth following recession, the key challenge is to boost growth and reduce unemployment significantly through productivity and competitiveness gains. This will require reducing public and private debt, improving labor market policies, and reforms to promote business entry and growth. The survey recommends continuing fiscal consolidation, shifting taxes from labor to consumption, improving insolvency procedures, strengthening active labor market policies, raising innovation quality, and further developing the business sector.
This document summarizes the budget formulation process in Finland. It discusses key aspects of the process including the role of coalition agreements, the annual budget calendar, discussions between the Ministry of Finance and spending ministries, and government decisions on spending limits. While Finland has made significant progress reducing deficits, the summary notes opportunities to strengthen the process through a more formal medium-term expenditure framework and greater Ministry of Finance involvement in coalition negotiations.
The Italian real estate market is showing signs of recovery after reforms implemented by the Italian government aimed at stimulating growth. Major transactions in 2015 involved foreign investors acquiring assets in Milan and Rome. Office properties and hotels were the most attractive asset classes, while retail investments focused on northern Italy. Competition for quality assets led to declining prime yields across major asset types as the Italian market becomes more attractive to foreign real estate investors.
The document discusses fundamental analysis at the economic, industry, and company levels. It begins by explaining how fundamental analysis examines economic data, industry supply and demand forces, and company financials and management to determine a company's intrinsic value. It then provides details on various factors analyzed at each level, including key economic indicators like GDP, inflation, and interest rates; industry classification; and financial metrics reviewed for individual companies.
Do Regional Finance Accountability And Budgetary Composition Enhance Regional...inventionjournals
Accountability is pivotal factor in the implementation of successful good governance since accountability is an indicator whether public fund is spent properly or not. Another relevant factor is budgetary composition more particularly local tax revenue and capital expenditure due to their correlation with public service. Empirical evidence showed that regional finance accountability affected regional economic performance measured using the Supreme Audit Board opinion and the amount of saved fund had negative and significant influence towards Gross Regional Domestic Product. On the other hand, budgetary surplus had positive and significant influence towards the Gross Regional Domestic Product. Budgetary composition and regional expenditure improved regional economic performance measured using local tax revenue and capital expenditure that have positive and significant influence towards Gross Regional Domestic Product.
Personal Debt Annual Conference Slide ShowDJODonovan
The document summarizes the Law Reform Commission's recommendations regarding personal debt and insolvency law in Ireland. It discusses establishing a non-judicial debt settlement arrangement process as an alternative to bankruptcy that allows over-indebted individuals to repay debts over 5 years through an arrangement approved by creditors. It also recommends reforms to streamline and make the bankruptcy process less punitive, and establishing a centralized Debt Enforcement Office to oversee the enforcement system.
The candidate enjoys working with people and computers, problem solving, and being creative. They have strong communication skills and experience working both independently and as part of a team. The candidate has expertise in various computer programs and operating systems, and enjoys learning new skills. Currently they produce promotional materials, manage social media, design posters, and provide IT support at their organization. They also analyze data and create reports to help improve services. The candidate's goals include further developing skills, redesigning websites, promoting the organization, researching improvements, and helping shape its future.
El documento discute la importancia de la tecnología educativa para la educación en salud y el rol del médico como educador. Explica que los médicos deben estar capacitados en habilidades educativas y usar herramientas tecnológicas de forma didáctica para transmitir mensajes de salud de manera individualizada y comunitaria. También presenta un breve ejemplo de cómo usar la tecnología para enseñar el automonitoreo de azúcar en sangre a pacientes diabéticos.
The document discusses some of the original concerns around how the internet impacts political views and democracy. It also discusses concepts like user-generated content, the long tail hypothesis, and generative vs. tethered technologies. Some risks of generative and anarchic networks mentioned include malware, incompatibilities, and use by criminals or for hate speech/censorship. Tethered networks can also enable censorship and monitoring of private information.
The Balkan Barometer, published for the first time in 2015, surveys 7,000 citizens and 1,400 businesses in Albania, Bosnia and Herzegovina, Croatia, Kosovo*, Montenegro, Serbia and The Former Yugoslav Republic of Macedonia, on a wide range of issues dealing with the political, socio-economic, business and investment climate, infrastructure, rule of law and other developments in the region.
De Facto Consultancy conducted survey in Montenegro.
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...Shkumbin Gërguri
Commercial banks are intermediators of the interaction between business entities and other economic, legal and social agents. Today, banks do not have the approach towards the classic model, whose function was only to offer classic services of deposits and loans,; with evolution of global trends and technology banks have created nowadays a modern system of operating that applies techniques and methods that are the trend of globalization.
Composition of ethiopian domestic revenues and tax buoyancies (1975 2013)Alexander Decker
This document analyzes the composition and trends of Ethiopian domestic revenues from 1975-2013. It finds that total domestic revenues as a percentage of GDP have increased under the EPRDF government compared to the Derg regime, reaching a high of 17.13% in 2004/05. However, domestic revenues also experienced high volatility, declining sharply at times. Tax revenues are the largest component and have historically been inelastic. Indirect taxes, especially foreign trade taxes, account for the majority of tax revenues. The study aims to examine tax buoyancies under the two governments to better understand domestic resource mobilization challenges in Ethiopia.
1. Serbia's economy entered a recession in 2012, contracting 1.7% as industrial output declined, unemployment remained high at 22.4%, and the current account deficit increased.
2. Fiscal performance deteriorated as the budget deficit rose to an estimated 6.6% of GDP and public debt increased to 61% of GDP.
3. Challenges for Serbia include high non-performing loans in the banking sector due to economic weakness, implementing reforms to improve fiscal discipline and the social assistance system, and transitioning to new performance-based payment systems in the health sector to improve efficiency.
1) ABBANK is a commercial bank in Vietnam that has experienced significant growth over the last 5 years, expanding from a rural bank to an urban bank with 118 offices nationwide.
2) ABBANK aims to grow annually at 35-40% through 2016 by diversifying products/services and partnering with other Vietnamese and international banks.
3) ABBANK's vision is to become a leading commercial bank in Vietnam offering universal banking services with a focus on retail banking and adopting international best practices.
The Council for the South's actual expenditures in 2017 were approximately 88.2% of the total appropriations allocated to it in the budget law, amounting to around $40 million. Implemented projects accounted for over two-thirds of expenditures at around $27.5 million (68% of total). Salaries and wages accounted for $8 billion (19.7% of total expenditures). Assistance provided by the Council for victims and affected groups amounted to around $3.9 million (9.5% of total expenditures).
Budgeting in Bulgaria - Emil NURGALIEV, BulgariaOECD Governance
This presentation was made by Emil NURGALIEV, Ministry of Finance, Bulgaria, at the 15th Annual Meeting of OECD-CESEE Senior Budget Officials held in Minsk, Belarus, on 4-5 July 2019
A study on Budget deficit AND Its impact on the economy of BangladeshMd Showeb
Government budget deficit is the difference between government revenues and expenditures. Government has different sources of revenues. Major portion of government revenues comes from direct and indirect taxes. Direct taxes come from income and profits of individuals and institutions and indirect taxes come from import duty, supplementary duty and value added tax. It can be put in different way. Direct taxes are the part of economic revenues and incomes of individuals and institutions and indirect taxes are the part of economic transactions in the form of buy, sale, export and import transactions. If government wants accelerate its revenues to meet the growing public expenditures and to reduce the budget deficit without reducing the expenditures of different influential sectors, much efforts should be made to increase economic revenues and income as well as the economic transactions so that the government revenues can meet the growing demand of the economy with the increase in revenues from income tax, import duty, supplementary duty and value added tax. In this regard the concentration of the report is on the management of deficit budget to minimize bad effects and maximize the utilization of funds. Having budget deficit is not a problem at all. The problems lie with the government inefficiency in the management of budget deficit. The evaluation of different reasons behind deficit budget and the evaluation of different bad effects of deficit budget are two crucial parts of our discussion. The impact of budget deficit on the different sectors of the economy is addressed here with relevant information. It is further concentration point of the report to find ways to improve the management performance of the government to achieve different macroeconomic goals with the help of expansion of economic revenues and transactions. The government revenues increase with the increase in economic revenues and economic transactions. The key point of our discussion is government should not decrease the public expenditures as the population is growing. The expenditures on different public sectors have to be increased as the population is growing. But budget deficit should not grow to meet the expenditures as budget deficit has some associated problems with it. For this reason government has to concentrate on accelerating the revenue collection rapidly with the expansion of economic revenues and economic transactions. For this reason government should try to integrate different policies to achieve key macroeconomic goals.
Competitiveness in South East Europe: A Policy Outlook (2016)OECDglobal
Future economic development and the well being of citizens in South East Europe (SEE) depend more than ever on greater economic competitiveness. To underpin the drive to improve competitiveness and foster private investment, an integrated policy approach is needed. This first edition of Competitiveness in South East Europe: A Policy Outlook seeks to help policy makers in Albania, Bosnia and Herzegovina, the Former Yugoslav Republic of Macedonia, Kosovo, and Serbia assess their progress towards their growth goals and benchmark them against the good practices adopted by OECD countries and the performance of their regional peers.
This report addresses 15 policy dimensions critical to competitive economies that draw on the South East Europe 2020 Strategy (SEE 2020), a regional growth strategy drawn up by the Regional Cooperation Council and adopted by SEE governments in 2013. The qualitative assessments presented herein use scoring frameworks to enable regional comparisons. A participatory assessment process – that brings together regional policy networks and organisations, policy makers, independent experts and the private sector – ensures a balanced view of performance.
The document provides information about the European Bank for Reconstruction and Development (EBRD), including what it is, its objectives, where it invests, the types of financing it provides, and examples of projects it has supported in Albania. Specifically, the EBRD is an international financial institution that owns 65 countries and promotes transition to market economies. It has invested over €86 billion in over 4,000 projects. In Albania, examples of EBRD projects include providing a €100 million credit line to the Albanian Deposit Insurance Agency, a €17 million loan to the Tirana East Gate shopping mall project, and a €10 million loan to the Hygeia Hospital Tirana project.
This is a presentation by Mr. Muluneh Ayalew, Director, Monetary and Financial Analysis Directorate, National Bank of
Ethiopia, at the 3rd Annual East Africa Finance Summit
Picking up from the previous budget, Budget 2013/14 will play a big role in laying a firm foundation to usher in the devolved system of government. The environment for budget formulation and prudent financial management at the national and county government level is now set, given the passing of requisite legislation, including the Public Finance Management Act, 2012 and the launch of the second strategy for Public Finance Management Reforms in early 2013. Given this state of play one can interrogate the budget process using the PFM, Act 2012 as a benchmark. The three arms of government managed to submit their expenditure estimates to the National Assembly by 30th April. Equally commendable is the fact that for the very first time, the National Government adopted Programme based budgeting (PBB) to present its expenditure estimates in line with PFM reforms.
This document provides an overview and analysis of the Indian economy in 2011-12. It summarizes the key findings of the annual Economic Survey presented to Parliament, including a slowdown in GDP growth to 6.9% due to weak industrial growth, high inflation that has begun to decline, and a likely fiscal deficit slippage. It also discusses developments in agriculture, industry, fiscal policy, prices, trade and the global economic challenges faced by India.
"Highlights":
Annual inflation was stable in April
GDP growth maintained by retail trade and impeded by energy sector
Labour market gradually becoming more favourable for employees
"In Focus":
Eurosystem's monetary policy: Expanded Asset Purchase Programme; autors: Egils Kaužēns
The document provides information about Albania, including its government, economy, and investment opportunities. Some key points:
- Prime Minister Sali Berisha is optimistic about Albania's future and its integration into the EU, citing progress in areas like fighting corruption and attracting foreign investment.
- The Minister of Economy notes Albania has reformed its legal system and offers a flat tax rate to attract EU investors. Key sectors for investment include services, tourism, and energy.
- The Finance Minister highlights Albania's reduced corporate tax rate of 10% and streamlined tax system as appealing to foreign companies. The banking sector remains liquid despite the global financial crisis.
Economic growth in Albania: Influencing Factors yesterday, today and tomorrowALTAX Consulting
According to the annual report of the Bank of Albania, for the years 1980 to 1990, the average economic
growth was at 0.9%. The largest economic downturn it is in the year 1990 at a level of -10%. The largest
economic growth it is in the year 1989 at a level of 9.8%. For the years 1991 to 2000, the average
economic growth was at 1.3%. The largest economic downturn it is in the year 1991 at a level of -28%. The
largest economic growth it is in the year 1999 at a level of 13.5%.
For the years 2001 to 2011, the average economic growth was at 5.3%. The slowed economic growth it is
in the year 2011 at a level of 3.1%. The largest economic growth it is in the year 2001 at a level of 7.9%.
Economic growth of past three decades of the Albanian economy is growing at an average 2.5%.
Based on the data of the last thirty years (one third of the life of the Albanian state) economy in this paper
will be presented in reference to significant economic and political factors that affect economic
development.
Reforms, technology and leadership will help Albanians toward the next stormALTAX Consulting
Knowing the situation, which economy will go through the economic challenges ahead will require Albanian leaders to have a clear sense of direction and steady but decisive hands on the tiller. The current environment still offers the opportunity to advance policies and reforms and build fiscal and financial scenarios for sustainable, robust, and inclusive growth. Albanian leaders need to take advantage of this moment.
The document summarizes the macroeconomic environment and financial developments in Uganda and globally. It finds that:
1) Global growth is projected to slow in 2015 due to lower growth in emerging markets like China and slumping commodity prices, posing risks to financial stability.
2) Growth is also expected to slow in sub-Saharan Africa, including East African countries, due to declining commodity prices and tightening global financial conditions.
3) For Uganda, risks arise from the strengthening US dollar, potential for capital outflows, a slowdown in China, and falling commodity prices, which could impact the shilling exchange rate, foreign investment, and agricultural export earnings.
This document describes an automatic safety door lock system for cars that uses infrared sensors and a hydraulic piston to prevent injuries caused by closing car doors. The system uses IR sensors placed along the door and outer panel connected to a microcontroller. When an object is detected between the closing door and outer panel, the sensors transmit a signal to the microcontroller which activates a relay driver to extend the hydraulic piston to stop the door from closing. The system aims to prevent the over 120,000 injuries that occur annually from unexpected car door closings.
Extrusion can be defined as the process of subjecting a material to compression so that it is forced to
flow through an opening of a die and takes the shape of the hole. Multi-hole extrusion is the process of
extruding the products through a die having more than one hole. Multi-hole extrusion increases the production
rate and reduces the cost of production. In this study the ram force has calculated experimentally for single hole
and multi-hole extrusion. The comparison of ram forces between the single hole and multi-hole extrusion
provides the inverse relation between the numbers of holes in a die and ram force. The experimental lengths of
the extruded products through the various holes of multi-hole die are different. It indicates that the flow pattern
is dependent on the material behavior. The micro-hardness test has done for the extruded products of lead
through multi-hole die. It is observed that the hardness of the extruded lead products from the central hole is
found to be more than that of the products extruded from other holes. The study suggests that multi-hole
extrusion can be used for obtaining the extruded products of lead with varying hardness. The micro-structure
study has done for the lead material before and after extrusion. It is observed that the size of grains of lead
material after extrusion is smaller than the original lead.
Analysis of Agile and Multi-Agent Based Process Scheduling Modelirjes
As an answer of long growing frustration of waterfall Software development life cycle concepts,
agile software development concept was evolved in 90’s. The most popular agile methodologies is the Extreme
Programming (XP). Most software companies nowadays aim to produce efficient, flexible and valuable
Software in short time period with minimal costs, and within unstable, changing environments. This complex
problem can be modeled as a multi-agent based system, where agents negotiate resources. Agents can be used to
represent projects and resources. Crucial for the multi-agent based system in project scheduling model, is the
availability of an effective algorithm for prioritizing and scheduling of task. To evaluate the models, simulations
were carried out with real life and several generated data sets. The developed model (Multi-agent based System)
provides an optimized and flexible agile process scheduling and reduces overheads in the software process as it
responds quickly to changing requirements without excessive work in project scheduling.
Effects of Cutting Tool Parameters on Surface Roughnessirjes
This paper presents of the influence on surface roughness of Co28Cr6Mo medical alloy machined
on a CNC lathe based on cutting parameters (rotational speed, feed rate, depth of cut and nose radius).The
influences of cutting parameters have been presented in graphical form for understanding. To achieve the
minimum surface roughness, the optimum values obtained for rpm, feed rate, depth of cut and nose radius were
respectively, 318 rpm, 0,1 mm/rev, 0,7 mm and 0,8 mm. Maximum surface roughness has been revealed the
values obtained for rpm, feed rate, depth of cut and nose radius were respectively, 318 rpm, 0,25 mm/rev, 0,9
mm and 0,4 mm.
Possible limits of accuracy in measurement of fundamental physical constantsirjes
The measurement uncertainties of Fundamental Physical Constants should take into account all
possible and most influencing factors. One from them is the finiteness of the model that causes the existence of
a-priori error. The proposed formula for calculation of this error provides a comparison of its value with the
actual experimental measurement error that cannot be done an arbitrarily small. According to the suggested
approach, the error of the researched Fundamental Physical Constant, measured in conventional field studies,
will always be higher than the error caused by the finite number of dimensional recorded variables of physicalmathematical
models. Examples of practical application of the considered concept for measurement of fine
structure constant, speed of light and Newtonian constant of gravitation are discussed.
Performance Comparison of Energy Detection Based Spectrum Sensing for Cogniti...irjes
With the rapid deployment of new wireless devices and applications, the last decade has witnessed a growing
demand for wireless radio spectrum. However, the policy of fixed spectrum assignment produces a bottleneck for more
efficient spectrum utilization, such that a great portion of the licensed spectrum is severely under-utilized. So the concept of
cognitive radio was introduced to address this issue.The inefficient usage of the limited spectrum necessitates the
development of dynamic spectrum access techniques, where users who have no spectrum licenses, also known as secondary
users, are allowed to use the temporarily unused licensed spectrum. For this purpose we have to know the presence or
absence of primary users for spectrum usage. So spectrums sensing is one of the major requirements of cognitive radio.Many
spectrum sensing techniques have been developed to sense the presence or absence of a licensed user. This paper evaluates
the performance of the energy detection based spectrum sensing technique in noisy and fading environments.The
performance of the energy detection technique will be evaluated by use of Receiver Operating Characteristics (ROC) curves
over additive white Gaussian noise (AWGN) and fading channels.
Comparative Study of Pre-Engineered and Conventional Steel Frames for Differe...irjes
In this paper, the conventional steel frames having triangular Pratt truss as a roofing system of 60 m
length, span 30m and varying bay spacing 4m, 5m and 6m respectively having eaves level for all the portals is at
10m and the EOT crane is supported at the height of 8m from ground level and pre-engineered steel frames of
same dimensions are analyzed and designed for wind zones (wind zone 2, wind zone 3, wind zone 4 and wind
zone 5) by using STAAD Pro V8i. The study deals with the comparative study of both conventional and preengineered
with respect to the amount of structural steel required, reduction in dead load of the structure.
Flip bifurcation and chaos control in discrete-time Prey-predator model irjes
The dynamics of discrete-time prey-predator model are investigated. The result indicates that the
model undergo a flip bifurcation which found by using center manifold theorem and bifurcation theory.
Numerical simulation not only illustrate our results, but also exhibit the complex dynamic behavior, such as the
periodic doubling in period-2, -4 -8, quasi- periodic orbits and chaotic set. Finally, the feedback control method
is used to stabilize chaotic orbits at an unstable interior point.
Energy Awareness and the Role of “Critical Mass” In Smart Citiesirjes
This document proposes a novel analytical model to define a new concept of critical mass in the context of spreading energy awareness in smart cities. The model incorporates centrality measures in both single-layer and multilayer social networks. Simulation results show that including centrality measures and a multilayer approach lowers the critical mass needed to trigger and spread good consumer habits. Specifically, the model calculates critical mass values using eigenvector centrality in single layers and a heterogeneous eigenvector-like centrality in multilayers. Considering network structure and central nodes' influence allows a smaller critical mass to foster diffusion compared to models that do not account for centrality. Extending the analysis to multilayers further reduces critical mass by increasing tie strength between nodes.
A Firefly Algorithm for Optimizing Spur Gear Parameters Under Non-Lubricated ...irjes
Firefly algorithm is one of the emerging evolutionary approaches for complex and non-linear
optimization problems. It is inspired by natural firefly‟s behavior such as movement of fireflies based on
brightness and by overcoming the constraints such as light absorption, obstacles, distance, etc. In this research,
firefly‟s movement had been simulated computationally to identify the best parameters for spur gear pair by
considering the design and manufacturing constraints. The proposed algorithm was tested with the traditional
design parameters and found the results are at par in less computational time by satisfying the constraints.
The Effect of Orientation of Vortex Generators on Aerodynamic Drag Reduction ...irjes
One of the main reasons for the aerodynamic drag in automotive vehicles is the flow separation
near the vehicle’s rear end. To delay this flow separation, vortex generators are used in recent vehicles. The
vortex generators are commonly used in aircrafts to prevent flow separation. Even though vortex generators
themselves create drag, but they also reduce drag by delaying flow separation at downstream. The overall effect
of vortex generators is more beneficial and proved by experimentation. The effect depends on the shape,size and
orientation of vortex generators. Hence optimized shape with proper orientation is essential for getting better
results.This paper presents the effect of vortex generators at different orientation to the flow field and the
mechanism by which these effects takes place.
An Assessment of The Relationship Between The Availability of Financial Resou...irjes
The availability of financial resources is an important element in impacting the success of a planning
process for an effective physical planning. The extent to which however, they are articulated in the process
remained elusive both in scholarly and public discourse. The objective of this study wastherefore, to examine
the extent to which financial resources affect physical planning. In doing so, the study examinedwhether
financial resources were adequate or not to facilitate planning processes in Paidha. According to the study
findings,budget prioritization and ceilings are still a challenge in Paidha Town Council. This is partly due
limited level of knowledge of physical planning among the officials of Paidha Town Council. As a result, there
were no dedicated budget line for routine inspection of physical development plan compliance and enforcement
tools in Paidha. In conclusion, in addressing uncoordinated patterns of physical development that characterize
Uganda‟s urban centres, a critical starting point ought to be the analysis of physical planning process. The
research of this kind is not only significant to other emerging urban centres facing poor a road network,
mushrooming informal settlements and poor social services including poor pattern of residential and commercial
developments but also to all institutions that are involved in planning these towns. Knowing the extent of need
for financial influences in planning may assist local authorities to take the processes of planning seriously which
will help enhance the sustainable development of emerging urban centres including Paidha.
The Choice of Antenatal Care and Delivery Place in Surabaya (Based on Prefere...irjes
This study analyzed factors affecting the utilization of antenatal care and delivery places in Surabaya, Indonesia based on preferences and choice theory. The study found that:
1) Nearly half of women chose healthcare for delivery based on information from others
2) Most women's main criteria for choosing a delivery place was that it was safe, comfortable and cheap
3) The majority of women's primary choice for a delivery place was one that was close, comfortable and cheap
Prediction of the daily global solar irradiance received on a horizontal surf...irjes
This document presents a new approach for predicting the daily global solar irradiance received on a horizontal surface as a function of local daytime and the maximum daily value. An exponential distribution function is suggested and compared to experimental data from several locations. The maximum daily value (qmax) is estimated theoretically in terms of the solar constant adjusted for earth-sun distance variation. Computed values using the new approach show good agreement with experimental data, within 16% error except for some extreme points.
HARMONIC ANALYSIS ASSOCIATED WITH A GENERALIZED BESSEL-STRUVE OPERATOR ON THE...irjes
This document summarizes a research paper that considers a generalized Bessel-Struve operator on the real line. It defines generalized Bessel-Struve and Weyl integral transforms, which are shown to be transmutation operators relating the generalized Bessel-Struve operator to derivatives. These tools are then used to develop a new harmonic analysis associated with the generalized Bessel-Struve operator, including generalized Sonine integral transforms. Key results proven include Paley-Wiener theorems and properties of the various integral transforms.
The Role of Community Participation in Planning Processes of Emerging Urban C...irjes
This document summarizes a research study examining the level of community participation in the physical planning process in Paidha Town, Uganda. The study found that community participation in planning is very low, limited mostly to a few mass meetings. Few community members are actually involved in planning. Even those involved do not understand their rights and roles. Physical planning has not been adequately prioritized or funded. To improve participation, the study recommends involving communities at different administrative levels from villages to the town council, and using a wider range of participatory methods beyond just meetings. Overall, the study finds that community participation in planning is still limited and needs to be strengthened for more sustainable urban development.
Understanding the Concept of Strategic Intentirjes
This document summarizes the concept of strategic intent in strategic management. It begins by discussing the origins and evolution of strategic management from Greek history to modern theories. It then defines strategic intent, comparing various authors' definitions. A key model by Hamel and Prahalad links strategic intent to other strategic components like foresight and core competencies. Strategic intent inspires long-term thinking beyond strategic planning alone. It provides direction and commitment to help organizations shape competitive priorities and capabilities for the future. Chief executives play a critical role in developing strategic intent to guide organizational progress over 10-20 years.
The (R, Q) Control of A Mixture Inventory Model with Backorders and Lost Sale...irjes
This document summarizes an inventory model that considers a mixture of backorders and lost sales when stockouts occur. The model has the following key features:
1) The set-up cost and lead time are controllable variables that can be optimized.
2) Instead of minimizing stockout costs, the model employs a service level constraint to bound the stockout level per cycle.
3) The model is solved using a genetic algorithm approach to find optimal values for ordering quantity, set-up cost, and lead time that minimize total costs while satisfying the service level constraint.
Relation Between Stress And Menstrual Cycle At 18-21 Years Of Ageirjes
The document summarizes a study that examined the relationship between stress and menstrual cycles in Indonesian nursing students ages 18-21. It found:
1) Nearly half (45.5%) of the 132 students studied experienced irregular menstrual cycles.
2) Slightly over half (50.8%) of students reported experiencing stress.
3) There was a significant relationship between stress and irregular menstrual cycles, with stressed students over 4 times more likely to have irregular cycles.
The study concluded that most of the nursing students experienced irregular menstrual cycles and stress, and that stress was strongly correlated with irregular menstrual periods.
Wave Transmission on Submerged Breakwater with Interlocking D-Block Armorirjes
1. The document summarizes a study on wave transmission through a submerged breakwater with interlocking D-block armor. Laboratory experiments were conducted to determine how water depth, wave period, structure height, and wave steepness influence the transmission coefficient.
2. Regression analysis showed that transmission coefficient (Kt) is most influenced by the ratio of wave length to top width, ratio of structure height to water depth, and ratio of wave height to wave period squared. A formula for Kt in terms of these parameters was developed.
3. Comparisons with previous studies show the same trend that higher wave steepness results in lower transmission coefficient, validating the results. The study provides useful insights into breakwater design using inter
An improved modulation technique suitable for a three level flying capacitor ...IJECEIAES
This research paper introduces an innovative modulation technique for controlling a 3-level flying capacitor multilevel inverter (FCMLI), aiming to streamline the modulation process in contrast to conventional methods. The proposed
simplified modulation technique paves the way for more straightforward and
efficient control of multilevel inverters, enabling their widespread adoption and
integration into modern power electronic systems. Through the amalgamation of
sinusoidal pulse width modulation (SPWM) with a high-frequency square wave
pulse, this controlling technique attains energy equilibrium across the coupling
capacitor. The modulation scheme incorporates a simplified switching pattern
and a decreased count of voltage references, thereby simplifying the control
algorithm.
Null Bangalore | Pentesters Approach to AWS IAMDivyanshu
#Abstract:
- Learn more about the real-world methods for auditing AWS IAM (Identity and Access Management) as a pentester. So let us proceed with a brief discussion of IAM as well as some typical misconfigurations and their potential exploits in order to reinforce the understanding of IAM security best practices.
- Gain actionable insights into AWS IAM policies and roles, using hands on approach.
#Prerequisites:
- Basic understanding of AWS services and architecture
- Familiarity with cloud security concepts
- Experience using the AWS Management Console or AWS CLI.
- For hands on lab create account on [killercoda.com](https://killercoda.com/cloudsecurity-scenario/)
# Scenario Covered:
- Basics of IAM in AWS
- Implementing IAM Policies with Least Privilege to Manage S3 Bucket
- Objective: Create an S3 bucket with least privilege IAM policy and validate access.
- Steps:
- Create S3 bucket.
- Attach least privilege policy to IAM user.
- Validate access.
- Exploiting IAM PassRole Misconfiguration
-Allows a user to pass a specific IAM role to an AWS service (ec2), typically used for service access delegation. Then exploit PassRole Misconfiguration granting unauthorized access to sensitive resources.
- Objective: Demonstrate how a PassRole misconfiguration can grant unauthorized access.
- Steps:
- Allow user to pass IAM role to EC2.
- Exploit misconfiguration for unauthorized access.
- Access sensitive resources.
- Exploiting IAM AssumeRole Misconfiguration with Overly Permissive Role
- An overly permissive IAM role configuration can lead to privilege escalation by creating a role with administrative privileges and allow a user to assume this role.
- Objective: Show how overly permissive IAM roles can lead to privilege escalation.
- Steps:
- Create role with administrative privileges.
- Allow user to assume the role.
- Perform administrative actions.
- Differentiation between PassRole vs AssumeRole
Try at [killercoda.com](https://killercoda.com/cloudsecurity-scenario/)
Introduction- e - waste – definition - sources of e-waste– hazardous substances in e-waste - effects of e-waste on environment and human health- need for e-waste management– e-waste handling rules - waste minimization techniques for managing e-waste – recycling of e-waste - disposal treatment methods of e- waste – mechanism of extraction of precious metal from leaching solution-global Scenario of E-waste – E-waste in India- case studies.
Comparative analysis between traditional aquaponics and reconstructed aquapon...bijceesjournal
The aquaponic system of planting is a method that does not require soil usage. It is a method that only needs water, fish, lava rocks (a substitute for soil), and plants. Aquaponic systems are sustainable and environmentally friendly. Its use not only helps to plant in small spaces but also helps reduce artificial chemical use and minimizes excess water use, as aquaponics consumes 90% less water than soil-based gardening. The study applied a descriptive and experimental design to assess and compare conventional and reconstructed aquaponic methods for reproducing tomatoes. The researchers created an observation checklist to determine the significant factors of the study. The study aims to determine the significant difference between traditional aquaponics and reconstructed aquaponics systems propagating tomatoes in terms of height, weight, girth, and number of fruits. The reconstructed aquaponics system’s higher growth yield results in a much more nourished crop than the traditional aquaponics system. It is superior in its number of fruits, height, weight, and girth measurement. Moreover, the reconstructed aquaponics system is proven to eliminate all the hindrances present in the traditional aquaponics system, which are overcrowding of fish, algae growth, pest problems, contaminated water, and dead fish.
Rainfall intensity duration frequency curve statistical analysis and modeling...bijceesjournal
Using data from 41 years in Patna’ India’ the study’s goal is to analyze the trends of how often it rains on a weekly, seasonal, and annual basis (1981−2020). First, utilizing the intensity-duration-frequency (IDF) curve and the relationship by statistically analyzing rainfall’ the historical rainfall data set for Patna’ India’ during a 41 year period (1981−2020), was evaluated for its quality. Changes in the hydrologic cycle as a result of increased greenhouse gas emissions are expected to induce variations in the intensity, length, and frequency of precipitation events. One strategy to lessen vulnerability is to quantify probable changes and adapt to them. Techniques such as log-normal, normal, and Gumbel are used (EV-I). Distributions were created with durations of 1, 2, 3, 6, and 24 h and return times of 2, 5, 10, 25, and 100 years. There were also mathematical correlations discovered between rainfall and recurrence interval.
Findings: Based on findings, the Gumbel approach produced the highest intensity values, whereas the other approaches produced values that were close to each other. The data indicates that 461.9 mm of rain fell during the monsoon season’s 301st week. However, it was found that the 29th week had the greatest average rainfall, 92.6 mm. With 952.6 mm on average, the monsoon season saw the highest rainfall. Calculations revealed that the yearly rainfall averaged 1171.1 mm. Using Weibull’s method, the study was subsequently expanded to examine rainfall distribution at different recurrence intervals of 2, 5, 10, and 25 years. Rainfall and recurrence interval mathematical correlations were also developed. Further regression analysis revealed that short wave irrigation, wind direction, wind speed, pressure, relative humidity, and temperature all had a substantial influence on rainfall.
Originality and value: The results of the rainfall IDF curves can provide useful information to policymakers in making appropriate decisions in managing and minimizing floods in the study area.
Rainfall intensity duration frequency curve statistical analysis and modeling...
International Refereed Journal of Engineering and Science (IRJES)
1. International Refereed Journal of Engineering and Science (IRJES)
ISSN (Online) 2319-183X, (Print) 2319-1821
Volume 3, Issue 8 (August 2014), PP.11-16
The Effect of Institution Efficiency in Developing
Albanian Economy
Ermir Shahini
Lecturer and PhD Candidate in Economic Science, Department of Economic Science,
Aleksander Moisiu University of Durres, Albania
Abstract:- On the basis of the contribution of the Bank of Albania, the report examines the development in the
economy of Albania. The report emphasizes on the role of banking system in the development of an economy.
The efficiency of the financial institutions of the country was an important part of the Albanian economy. The
global financial crisis had a gradual impact on the economy of Albania, affecting all the factors that form the
economy. The major issue for the country was the financial instability, which was eventually having an impact
on the working of the banking system of Albania. Using the recent years results derived from researches and
studies, the report has detailed the measures taken by the Albanian bank with the support of the government to
bring stability in the economy as well as develop the economy.
Keywords: - Bank efficiency, economic growth, financial development, macroeconomic stability
I. INTRODUCTION
The economy of any country grows at different rates. The empirical growth literature come up with
various explanation of cross country differences in growth including institutional and educational development,
human and capital resources, legal system effectiveness, degree of macroeconomic stability, international trade
etc. One critical factor that has begun to receive more attention recently is financial markets in growth process.
The positive link between financial market and economy growth is obvious. More developed countries have
more developed financial market. The growth of any country depends on the level of financial market and
financial institutions. Therefore it would seem that policies to develop for financial institution would be
expected to raise economic growth.
Economic development of any country depends on financial development of that country. The purpose
of this paper is to examine the effect of institution efficiency in developing Albanian economy. Albania is
applying the multiparty democracy, pluralism and market economics in according to Article 1 of the agreement
establishing the bank. Albania was one of the south-eastern European countries that avoided a recession in
recent year [1]. GDP growth of Albania currently forecast by the bank fall about 1.2 percent in 2012 but with
modest increase in 1.8 per cent in 2013. Under this baseline, growth is expected around 3 to 4 per cent in 2014-
2015. Over the past two decades Albania has made steady progress with structural reform despite having
institutional weaknesses.
II. THEORETICAL BACKGROUND
It is essential to assess the relationship between financial market development and economic growth.
Two causal relationships were identified between financial development and economic growth, the first– called
“demand following” – views the demand for financial services as dependent upon the growth of real output and
upon the commercialization and modernization of economic sectors. Thus, the creation of modern financial
institutions, their financial assets and liabilities are a response to the demand for these services by investors in
the real economy. The financial system can help and sustain the leading sector in growth process. Thus financial
system induced as a consequence of the real economic growth.
I.1. Efficiency of the Albanian Banking Market
To possess an efficient Banking system is a major requirement of a developed economy as the banking
system is the backbone of the economy of the country. The Bank of Albania has emerged as a strong institution
that contributed in making the banking sector of Albania healthy. The efficiency of the sector depends on the
financial ratios like net interest margins (NIM), cost-income ratios, overhead costs to total assets, operating
expenses to operating revenues and return on investments. The efficiency of a bank is considered to be low
when the net interest margin and the overhead costs are high [2].
The cost incurred on these ratios is high as well as there is a higher wedge between the borrowed and
deposited interest which reduces the efficiency of banks. Moreover high ratios of cost income ratio, O/H cost to
www.irjes.org 11 | Page
2. The Effect of Institution Efficiency in Developing Albanian Economy
total assets, operating expenses to operating revenues also indicate poor efficiency of banks. However, the ROA
is considered as the basic tool to evaluate the performance of the banking system as a whole and indicate the
profitability of the bank. The use of ROA for indicating the performance of Bank of Albania has shown positive
results continuously for the time period of 2002-2007 [3].
Although the bank incurred high operational expenses in expansion, still the financial results of the
banks from the main operations were positive. The trend of positive performance broke in the year 2008 when
the performance of the Albania banking system weakened. By the year 2010, the Albanian banking system
again geared up experiencing a swift rise in its net profits whereas the increase in the average assets was a
minute one, but this growth could not continue in the next year. The Albanian banking system again had a poor
performance graph in the year 2011.
Figure 1-Fig. 1 Efficiency indicators for Albanian banking system (in %)
Source: Bank of Albania (2003-2012).
I.2. Stabilizing the Microeconomic Environment
The Government of Albania implemented the Economic and Fiscal Program (EFP) for 2012-2014. The
aim of implementing the program was to bring stability in the macroeconomic environment of the country and
fiscal consolidation. The program also made attempts to maintain public investment at a substantial level and
economic growth to match the EU income levels. The effect of the global financial crisis (2008) was less on the
Albanian economy in comparison to its neighboring countries. The GDP of the country grew each year but at
lower rate relative to the pre-crisis period. For instance GDP in 2009 and 2010 was 3.6% and 3.8% respectively.
This shows that the growth was only by 0.2%. Gradually the demand from foreign countries started to fall which
reduced the exports. The domestic market also got affected by the crisis. The non-performing loans formed
about 19% of the total loans. The government and Central bank took steps to control the instability in the
microeconomic environment of Albania. The country experienced a speeded inflation rate in the first quarter of
the year 2011, which was controlled by the bank by the second half of the same year. The Central Bank aimed to
reduce the inflation rate to 2-4% in the year 2012, but the results were unexpected as the inflation rate fell below
the target of the Central Bank [4].
On the other hand, to improve the economic growth rate, the Bank of Albania announced another cut to
the policy rate, making it 4.5% in January 2012. Various other reforms by the bank with regard to fiscal policy
have made it possible for the bank to control the inflation rate. The current account deficit of the country was
10% of GDP in 2007 that incremented to 15% in 2008. Authorities have forecasted the deficit to reduce to 7.1%
by 2015. The country experienced a slight fall in its unemployment rate in the year 2011 resulting into 13.3%
www.irjes.org 12 | Page
3. The Effect of Institution Efficiency in Developing Albanian Economy
unemployment but again in the year 2012 the rate increased by approx. 1.6 but at a rate less than the previous
years [5].
Methods were applied for promoting the employment of women in need and first time job seekers.
However, the employment promotion programs‟ budget in 2010 reduced in the consecutive years and by 40% in
2012, this demotivated the participants. Almost 3.5% of the total unemployed officially registered population
which was 4,880 in number got the opportunity to receive public vocational training in 2011. To increment this
% the country has nine vocational training centers along with a mobile vocational training centre in North-
Eastern Albania. Measures to deal with informal employment have also been an important part of the
employment in Albania [6].
The Albanian economy applied the Small Business Act in respect to company registration and business
start-up. To promote Industrialization an innovation fund of almost € 285,000 was announced for the time
period of 2011-2014. To provide financing for the SMEs, actions were taken under the Credit Guarantee Fund.
Financial schemes provided by the Italian government were implemented along with the preparations for the
second phase of the scheme for the year 2012-2014.
I.3. Financial Development and Economic Growth in Albania
Prior 1990, the banking system and the Albanian economy was a purely centralized system. There was
an Albanian State Bank- the monetary and lending authority was a one-tier banking system and the Agricultural
Bank which provided funds to the agricultural department. Various limitations were identified in banking sector
prior 1990 on the basis of the performance of banking system. These included: a) there was a limited financial
institution that includes limited range of products and services where bank played the role of recording
transactions among producing enterprises, b) there was a lack of risk evaluation techniques and management of
credit risk, c) the accounting system was inconsistent with international accounting standards as accounting
system includes only recording and monitoring process and hence excluding the analysis process and d) lack of
modern governing, international banking and management practices [7].
Albania‟s agricultural sector and farm land was rapidly privatized and small household businesses were
established. Albanian market is mainly concentrated on goods‟ marked as far as in financial intermediation
concerned it was at very low level. A two tier banking system implies the focus of monetary authority at the first
level- with the Bank of Albania being mandated as a responsible authority and focus of commercial function at
the second level. When two tier banking system was established, the second level consisted of three banks i.e.
Saving Bank, National Commercial Bank and Agricultural Commercial Bank.
By the end of 1996, five other banks were open two of which Greek Capital-owned, one bank owned
by Bank of Kosovo and two other joint venture bank of Albania with an Italian bank and an Arabic one. In
1997, during pyramid crisis which affected both economic and social aspect of Albania, the financial system
entered at another development stage. At present time the Albanian financial system consist of 16 banks, 7 non-banking
financial institutions and 10 insurance sectors. In order to increased number of banks, the Albanian
banking sector evidence the privatization of the National Commercial Bank, the Saving Bank.
The American Bank of Albania was merged with Italian-Albanian Bank. Albanian banks have lack of
specialization in certain area like investment banks, saving banks or commercial banks. Economic growth is one
of the basic factors of economic development and also social development of any country. A stable macro-economic
situation is the basis for the development of economic condition and financial condition. The
performance of economic growth in Albania is around 6% in recent years. Despite, there is more reduced level
of poverty, one fifth of the total population still lives in poverty. In comparison to other regional countries
Albania has same GDP growth [8].
www.irjes.org 13 | Page
I.4. Strategic Direction
The Albanian Bank‟s priorities for next years will focus on sustainable development of private sector
banks and banking sector also focuses on high priority public sector banks. In the light of challenges faces by
banking sector, banking activities focuses on the following areas. Albanian banks will work on environmentally
sound investment. Albanian banks work with Albanian authorities which is an independent regulator to enhance
the regulatory and administrative framework for private sector banks. Banks through its dedication and focused
facilities will increase energy efficiency and renewable energy resources. Banks will support the energy
generation. The Banks will assist the Albanian Authorities to increase private sector involvement in
commercialization including road maintenance, municipal services etc.
The banks will support an active investment policy and development of more private sectors. The
banks active investment policy includes agricultural sectors, manufacturing units and services, tourism and so
on, all of which have potential to modernize the Albanian economy. The Banks will support the financial market
with credit lines and Medium Size Co-Financing Facility (MCFF). The Banks with Albanian Bank‟s respond in
a timely way to need of the financial sectors. The Bank will integrate closely with European Union and with
4. The Effect of Institution Efficiency in Developing Albanian Economy
other financial institutions in all its operation and function in order to achieve maximum and integrate Albania
to European Union.
III. FINDINGS AND ANALYSIS
After discussing effects of institutional efficiency on Albanian economy, this report has provided
quantitative analysis to support the topic and highlight the effects of various financial elements and its role in
growth of the economy. Along with the banking and financial development in the economy, various factors such
as Freedom from corruption, Fiscal freedom, Business freedom, Labor freedom and Trade freedom are
considered as independent variables showing institutional development in Albania. Foreign direct investment in
the country was although having negative growth over the last few years, but it has resulted in the growth of
domestic business development and production level. Overall GDP of the country was $12.90 billion in 2013
wherein FDI was 2.99 %. Considering FDI as the dependent variable, data were found to highlight the growth
on factors mentioned above.
Financial Freedom score for Albania's is 66.9 that make it world‟s 54th nations for free to business in
the 2014 Index. Its general score has expanded by 1.7 focuses, with eminent enhancements in trade as well as
investment freedom. It led for venture opportunity and exchange flexibility. Albania is positioned 25th among
the 43 nations in the European marketplace making it over the world‟s average score.
Over the 20-year history of the Index, Albania has progressed its monetary flexibility score by around
17 focuses, a main 20 change. With score expands in nine of the 10 financial opportunities, Albania has climbed
bit by bit into the "respectably free" class. Prominent structural changes have included exchange liberalization,
privatization, execution of focused level expense rates, and modernization of the nature's turf. Alongside the
compelling support of low expansion, more noteworthy money related strength has likewise been attained.
The legal stays subject to political obstruction, and deeper institutional changes to annihilate waiting defilement
and expand legal autonomy are discriminating to guaranteeing more noteworthy financial opportunity in
Albania. Climbing monetary shortages lately have expanded open obligation to over 60 percent of GDP, as far
as possible set in 2008.
www.irjes.org 14 | Page
a. Understanding Correlation
Table 1: Correlation based on different economic variables Correlations
Freedom
From
Corruption
Fiscal
Freedom
Business
Freedom
Labor
Freedom
Trade
Freedom
FDI
FreedomFromCorru
ption
Pearson
Correlation
1 .806** .162 .447 .853** -.773**
Sig. (2-tailed) .000 .495 .196 .000 .000
N 20 20 20 10 20 20
FiscalFreedom Pearson
Correlation
.806** 1 .370 .025 .915** -.638**
Sig. (2-tailed) .000 .108 .946 .000 .002
N 20 20 20 10 20 20
BusinessFreedom Pearson
Correlation
.162 .370 1 .100 .403 .211
Sig. (2-tailed) .495 .108 .784 .078 .371
N 20 20 20 10 20 20
LabourFreedom Pearson
Correlation
.447 .025 .100 1 .317 .045
Sig. (2-tailed) .196 .946 .784 .372 .901
N 10 10 10 10 10 10
TradeFreedom Pearson
Correlation
.853** .915** .403 .317 1 -.665**
Sig. (2-tailed) .000 .000 .078 .372 .001
N 20 20 20 10 20 20
FDI Pearson
Correlation
-.773** -.638** .211 .045 -.665** 1
Sig. (2-tailed) .000 .002 .371 .901 .001
N 20 20 20 10 20 20
**. Correlation is significant at the 0.01 level (2-tailed).
5. The Effect of Institution Efficiency in Developing Albanian Economy
From the above results, it can be understood that keeping FDI as the dependent variable, all the other
element of institutional growth gets changed. There is a strong relation of FDI‟s with the change in Freedom
from corruption, Fiscal freedom, Business freedom, Labor freedom and Trade freedom. There is significant
correlation between freedom from corruption and fiscal freedom at 0.01, significance level. Similarly at this
point of significance level, it can be seen that there is a significant correlation between all the independent
variable. Along with the change in growth of FDI, such factors play its role. In the marketplace of Albaian
economy, such a significant level of growth in FDI has led to the development of freedom for doing business
and generating employment. Government has also played an important role in it.
Regression Analysis
Model Summary
Model R R Square Adjusted R Square Std. Error of the
Estimate
1 .989a .978 .950 .24555
a. Predictors: (Constant), Freedom From Corruption, Labor Freedom, Business Freedom,
Trade Freedom, Fiscal Freedom
From the results, it is clear that 95% variation in FDI is explained by independent variables. When in an
economy, there is relaxation for global players to enter and less political interfere, it results in less corruption,
business freedom, labor freedom, fiscal freedom and trade freedom. In Albanian economy over the last 10 years,
we can see that score in financial freedom was about 30 earlier, but it increased to 70 now in 2013. Banking and
financial development in the economy has resulted in expansion of domestic business in retail and
manufacturing. This is why, it has affected the FDI level as well. Now various global players are looking
forward to expand business in Albania for lowering down its cost of production and maximum use of resources.
ANOVAa
Model Sum of Squares Df Mean Square F Sig.
1 Regression 10.543 5 2.109 34.971 .002b
Residual .241 4 .060
Total 10.784 9
www.irjes.org 15 | Page
a. Dependent Variable: FDI
b. Predictors: (Constant), Freedom From Corruption, Labor Freedom, Business Freedom,
Trade Freedom, Fiscal Freedom
Model is fit as “F” value is significant.
Coefficientsa
Model Unstandardized Coefficients Standardized
Coefficients
t Sig.
B Std. Error Beta
1 (Constant) -70.852 11.333 -6.252 .003
Fiscal Freedom .467 .093 1.816 5.032 .007
Business Freedom .112 .016 1.018 6.987 .002
Labor Freedom 1.151 .145 1.375 7.937 .001
Trade Freedom -.169 .042 -1.375 -4.068 .015
Freedom From Corruption -.693 .060 -2.330 -11.463 .000
a. Dependent Variable: FDI
From the results above, it is clear to at P<0.05, there is a positive and significant impact on FDI from
Fiscal freedom, Business freedom, Labor, Trade freedom has positive and significant (P<0.05) impact on FDI..
However, corruption freedom has negative impact on FDI at significant level of P<0.05.
6. The Effect of Institution Efficiency in Developing Albanian Economy
IV. CONCLUSION
The economy of Albania although was not majorly affected by the global financial crisis yet the affects
came forward gradually. The various elements that form an economy started showing loopholes for example the
GDP was at a very low %, exports started to fall, etc. These factors as a whole contributed in the poor economic
growth. However, the government of the country along with the support of the Central Bank and Bank of
Albania took measures to overcome this situation of crisis. Therefore, the banking system of Albania plays an
important role. Efficiency of the banking system has been a significant part of the development of the Albanian
economy. The Bank of Albania has framed policies to bring stability in the economic environment of Albania.
For this purpose the institution has worked on every sector like finance, agriculture, industrial, etc. The Albania
bank in co-ordination with the Albanian authorities and European Union have been working and developing
strategies which have been discussed in the report, to make the economy of Albania a developed economy.
Amid the previous five years FDI-s have expanded pointedly from 250 million € in 2006 to 827 million € in
2010, while FDI-s have developed with 17% contrasted.
Albania economy profited from the FDI inflows in these potential segments either in giving distinctive
administrations yet in the meantime offering to buyer cost proficient benefits through rivalry. From the
statistical data, business freedom, financial freedom, trade freedom and corruption level of the Albanian
economy were the major factors that resulted change in FDI level. FDI inflows animate monetary improvement
and have helped creating nations for example, Albania when confronted with monetary hardship beforehand.
FDI in Albania are considered as one of the fundamental patrons on the monetary development of the nation.
Our GDP and fare development rates were the quickest developing in South East Europe from 1997 to 2008.
FDI-s in Albania has expanded essentially amid the most recent years, reflecting an expanded inclination of
remote financial specialists in Albania creation elements and danger lessening.
REFERENCES
Journal Papers:
[1]. Fang, Y., Hasan, I., Marton, K., (2011). Bank efficiency in transition economies: recent evidence from
South-Eastern Europe, Bank of Finland Research, Discussion Papers.
[2]. Kristo, S., (2012). Efficiency of the Albanian banking system: Traditional approach and Stochastic
Frontier Analysis. International Journal of Economic Sciences and Applied Research, 6(3), 61-78.
[3]. Fukuda, T., Dahalan, J., (2012). Finance-Growth-Crisis Nexus in Asian Emerging Economies:
Evidence from VECM and ARDL Assessment‟, International Journal of Economic Sciences and
Applied Research, 5 (2), 69-100.
[4]. Gramoz, P., (1991). The Albanian Economy at the Beginning of 1990s. In:"Economic Change in
Balkan States", Sjoberg and Wyczan ed. St. Martin's Press, New York, 128-147.
[5]. Koutsomanoli-Filippaki, A., Margaritis, D., Staikouras, C., (2009). „Efficiency and productivity growth
in the banking industry of Central and Eastern Europe‟, Journal of Banking and Finance, 33, 557-567.
Books:
[1]. De Guevara, J. F., Maudos, J., (2007). Explanatory Factors of Market Power in the Banking System,
Manchester School, 75, 3, 275-296.
Proceeding Papers:
[1]. NBU, Raiffeisen Research, (2012). „Performing in challenging times‟ CEE Banking Sector Report.
[2]. European Commission, (2012). Commission Staff Working Document. Albania 2012 Progress Report.
www.irjes.org 16 | Page
Brussels.