In this chapter, the following content will be discussed: Give a brief overview of different views of the role of government in the economy, list key issues confronting Southern African governments regarding their role in the economy, distinguish between the main institutional categories of the public sector, discuss the salient features of and trends in the size and composition of the South African public sector, discuss various aspects of the relationship between the public sector and the rest of the economy.
The market prices of project inputs or outputs will NOT
- the inputs or outputs are TRADED ie. price is
determined in world markets)
- the project is SMALL relative to the size of the
economy in which is undertaken
Bonds will play a crucial role in financing the transition to a low-carbon, climate-resilient economy. Investor interest in the asset class is growing, but what is the current investment opportunity already out there?
This report, commissioned by the HSBC Climate Change Centre of Excellence and prepared by the Climate Bonds Initiative, presents a first estimate of the outstanding global bond market size linked to key climate change themes, and examines future drivers and trends in the short term.
World Development Indicators 2011, the 15th edition in its current format, aims to provide relevant, high-quality, internationally
comparable statistics about development and the quality of people’s lives around the globe. This latest
printed volume is one of a group of products; others include an online dataset, accessible at http://data.worldbank.
org; the popular Little Data Book series; and DataFinder, a data query and charting application for mobile devices.
China’s WTO accession will have major implications for China and present both opportunities and
challenges for East Asia. We assess the possible channels through which China’s accession to the WTO
could affect East Asia and quantify these effects using a dynamic computable general equilibrium model.
China will be the biggest beneficiary of accession, followed by the industrialized and newly industrializing
economies (NIEs) in East Asia.
Stabilization Programs, Monetary Policy and Exchange Rate Movements in Emerging Markets Economies I use a unique data set consisting of observations on more than 300,000
metropolitan SAT takers from the 1994 cohort, matched to the high schools that students
attended. The size of this sample permits accurate estimation of both peer quality and
average performance for the great majority of high schools in each of 177 metropolitan
housing markets. I find no evidence that the association between peer group and student
performance is stronger in high-choice than in low-choice markets....
Most observers of the economy now accept that a major shift occurred during the 1970s.
The rapid productivity growth of the postwar years came to an end—for reasons that
are still being debated among economists and historians. Wage growth lagged, and the
economy suffered multiple shocks from energy prices and rapid inflation. The surge of
births in the postwar baby boom meant that the labor force grew rapidly, while women
were entering the labor force in numbers unprecedented in peacetime.
A positive financial outlook. Small businesses are expecting better bottom lines in 2010 than
in the previous year and a half. For the first time, more businesses expect to gain revenue (31
percent) in the current year than lose revenue (23 percent). To further support their optimism,
more small businesses (58 percent) expect to show a profit this year than just six months ago (47
percent in December 2009 expected to show a profit in the current year).
More caution with the economy. Despite the expectation of better bottom lines, small
Having discussed robustness, Section IV turns to three extensions of our baseline results.
First, we check whether the baseline results differ depending on whether the fiscal
consolidation reflects changes in government spending or changes in revenue. The results
suggest that fiscal multipliers were, on average, underestimated for both sides of the fiscal
balance, with a slightly larger degree of underestimation associated with changes in
Second, we examine forecast errors for the unemployment rate and for the components of
In the longer run, the service sector is expected to continue ex-
panding faster than the overall economy, i.e. the share of the service
sector in overall employment will increase. Our baseline scenario for
regional office employment does not forecast any big shifts in the
regional distribution of the industries. Based on population size and
the concentration of services, Istanbul is and will remain by far the
largest office market in the country, with the market’s importance as
a gateway between Europe and Asia continuing to increase.
In 1980, Austin, Texas, and Syracuse, New York, were roughly
the same size. The Austin metro area had a population of about
590,000, and the Syracuse metro area had about 643,000 residents.
By 2007, Austin’s population had increased by more than 1 million
while Syracuse’s population had been stagnant. That same disparity
exists when one examines the growth of employment and real per-
sonal income. Another disparity between the two areas is the tax
burden. State and local taxes accounted for nearly 13 percent of
personal income in Syracuse but only about 9 percent in Austin.
At the same time that California is decreasing ECE funding, researchers throughout the nation are
documenting the importance of the ECE industry as an engine of economic development. More than
58 states and localities have conducted analyses of the size and regional economic impact of the
industry. Because of the way that ECE expenditures “ripple” through the local economy, this sector
has been found to have an economic impact that rivals the impact of many of the industries that have
traditionally received economic development dollars from local and state governments (Liu et al.
This paper empirically examines the inf luence of “community effects,” in
the form of word-of-mouth communication, on the decision about whether to
participate in the stock market. In addition to its importance at the individ-
ual level, equity market participation is also important at the aggregate level
because of its ability to inf luence the size of the equity premium (Mankiw
and Zeldes (1991), Heaton and Lucas (2000), Brav, Constantinides, and Gezcy
The large size of the four banks relative to GDP and the banking system behooves careful
attention to their vulnerabilities and resilience to shocks.
Any distress among these banks
could have a sizable impact on the financial sector and the real economy in Australia and
Moreover, they may be perceived by the markets as too big to fail, which
implies they could pose a potential fiscal liability.
The second aim of this thesis is to investigate whether Thai mutual fund performance
can be explained by any of its characteristics. The study examines statistic and economic
importance of fund characteristics to its performance. In the literature, evidence is sparse and
mixed on developed markets, let alone that on emerging markets. Rather than focusing on
one particular characteristic, this study draws on the evidence from five important
characteristics in the literature, which offer theoretical and empirical support.
The value of the UK LCEGS sector was £106.5 billion in 2007/8. In terms of size, this puts the low
carbon and environmental economy somewhere between the UK’s healthcare and construction
The UK is the world’s sixth largest low carbon and environmental economy, with 3.5% of global market
share. As shown in Figure 2, the Environmental sector accounts for £22.3 billion (21%) of total UK
market value, Renewable Energy for £31.
The GCC region is a small but important part of the global economy. Its 2007 real GDP
was around US$810 billion, accounting for just 2.1% of the global total
. Despite the
relatively small size of their economies and populations13
, the rate of GDP growth in GCC
countries reached 6.4% in 2007, which is similar to the Asia Pacific average (5% to 6%).
Its growth rate exceeded the averages for Latin America, Europe, the OECD and the
Middle East. In terms of GDP per capita, Qatar, the UAE, and Kuwait rank among the
Despite all the above and whatever impacts technology, global economies and terrorism are
likely to have, there is still the desire amongst international associations to meet, press the flesh
and exchange views which will always remain. According to ICCA the UK’s market share of
the international association congress segment remains stable at around 5.6% and is second
only to the USA.
There is an oft-quoted saying believed to have originated as a Chinese proverb: “May
you live in interesting times”. It is often not interpreted with a positive connotation!
At present, it would be fair to say that the Indian mutual fund industry is living in
interesting times. It remains to be seen how positively that can be interpreted.
The last few years have seen a series of events, both within and outside the Indian
economy, which have had a deleterious effect on the industry. The world as we knew it
has changed in many ways....
Korea’s experience also illustrates how good crisis management can accelerate structural adjustment. The Asian financial
crisis of the late 1990s led to significant down-sizing among large firms in Korea. This process was characterized by mass
lay-offs of highly-skilled personnel, and large reductions in corporate R&D spending. The response of the Korean
government, in addition to boosting education expenditure, was to increase its R&D budget, to offset the decline in
corporate R&D spending.