This can be achieved by providing a conducive environment that provides incentives to work, promotes risk taking and inculcates a culture of saving. The path towards an optimal tax system is littered with trade-offs and in cannot therefore be viewed in isolation. The impact of fiscal policy is more potent when it is implemented in conjunction with monetary policy. Several theories on how income taxes affect work effort, risk taking and saving have been development but the collection of empirical evidence to support these theories has lagged somewhat. Below are some of the reasons why conclusions have been difficult to draw.
It incorporates public sectors standardized strategies and initiatives to achieve its efficiency. It’s a mechanism that reorganizes public sector entities so as to bring accounting management and reporting closer to business techniques ((Dunleavy et al, 2005; Hood, 1995). Its main principles are decentralization, efficiency, accountability and transparency. Also, there are varied mechanisms adopted and implemented through these reforms by various nations. The emphasis is on strategies and accounting information.
Recognizing the critical importance accurate and complete spend data has on the value of their own solutions, several e-procurement and e-sourcing platform providers are boosting their spend data management capabilities by acquiring spend data cleansing and classification applications or developing or partnering for spend data management services – or both. Other business service providers, such as procurement service providers, financial services firms, and consultants, are making similar investments to bolster their spend data management capabilities and
Application of Protectionism in Global Finance Kashyap Pd. Marahatta BUS 630 International Business Professor: Prachanda Man Shrestha Westcliff University 02/05/2017 Abstract This paper will try to analyze the case ‘The Global Financial Crisis and Protectionism’. While doing so, this paper will try to point out why calls for protectionism are greater during sharp economic contractions. It will then try to put light on why the increase in protectionist measure even during the sharp contraction of 2008-2009 was fairly modest. This paper will then finally conclude by providing insights on why international trade/ business is essential for the development and prosperity of a country.
Malaysia is committed to further develop its financial market as outlined in the Bank Negara Malaysia’s Financial Sector Masterplan 2003. The Masterplan outlines the strategies to enable the domestic financial sector to cope with the rapid pace of economic development and transformation that creates new demands and opportunities. The objective of the Masterplan which is “….to develop a more resilient, competitive and dynamic financial system with best practices, that supports and contributes positively to the growth of the economy throughout the economic cycle…” (Bank Negara Malaysia, 2003: 11) is a clear manifestation of the importance of bank lending in the economy. By having this objective, Bank Negara Malaysia is clearly emphasising on ensuring a healthy and stable financial system that can provide continuous financing to the economy. The objective could well be implied to financing in the form of bank loans since 70% of total financing in the Malaysian economy comes from bank lending.
Conceptual Background The conceptual background to public sector governance is traced in the underpinnings of good governance and New Public Management- NPM. As an approach to public management, NPM emerged in the 1980s as an alternative to traditional public administration which had failed to deliver the public good because it had been proved to be ineffective, sluggish and very costly (Gumede & Dipholo, 2014). Prior to prior the emergence of NPM paradigm, public administration was seen as the most rational avenue for managing the affairs of the public. However, Osborne and Gaebler (1992) opine that there was a need to reinvent government and harness the entrepreneurial spirit to transform the public sector and later “banish the bureaucracy”.
The world seems interconnected and interdependent as a result of international factors. However, there are positive and negative impacts of being global citizens. This essay is going to discuss the impacts of globalisation in education, culture, and business, focusing on global marketing. As Carnoy (2000) cited in Tarc (2012) mentions the impacts of globalisation in educational sectors are divided into several fragments such as the reduction of public spending on education, the expansion of higher education, and the participation in international comparisons of educational systems. Firstly, the pressure to reduce public spending on education occurs because of the bias of IMF and World Bank policies, especially for developing countries (Tarc, 2012, p. 9).
The role of NBFCs as effective financial intermediaries has been well recognized as they have inherent ability to take quicker decisions, assume greater risks, and customize their services and charges more according to the needs of the clients. While these features, as compared to the banks, have contributed to the proliferation of NBFCs, their flexible structures allow them to unbundle services provided by banks and market the components on a competitive basis. The distinction between banks and non-banks has been gradually getting blurred since both the segments of the financial system engage themselves in many similar types of activities. At present, NBFCs in India have become prominent in a wide range of activities like hire-purchase finance, equipment lease finance, loans, investments, etc. By employing innovative marketing strategies and devising tailor-made products, NBFCs have also been able to build up a clientele base among the depositors, mop up public savings and command large resources as reflected in the growth of their deposits from public, shareholders, directors and their companies, and borrowings by issue of non- convertible debentures,
The banking sector is the backbone of the Ghanaian economy. Financial institutions play the role of financial intermediation by collecting and mobilizing resources to finance business and development projects that are essential for economic development ( Kutsienyo, 2011). For a healthy and developing economy, a sound financial system is a requisite. The banking sector constitutes a predominant component of the financial system of any economy (Sing, 2010). During the 1970’s, the banking systems in Ghana were having weaknesses which include; high non-performing loans, major government control, weak banking law and regulations, fixed exchange rate, no interest on deposit, geographic restrictions and poor banking services.
(Peixoto, 2012) Asserts that public budgeting is viewed as an object of process that is, it is formulated under procedural stages from the drafting stage to the execution stage. Continuous engagement throughout the whole process of the budget is detrimental in the sense that case citizens contribute their opinions throughout the budget process. Furthermore participatory budgeting has a direct impact on the budget. This means that engaging citizens can allow changes and promote changes for the betterment of the budgetary process. Again in this case citizens should decide on the rules of governing the process.