Bernard and Austin (2012) argue that traditional theorists believed that financial market in general has no correlation with economic growth, this proposition aroused studies on finding the effect of financial market on growth. Ample of studies have conducted on the traditionalists and established association between stock market and economic growth. In developing economy like Bangladesh and Nigeria, the development and growth of stock markets have been widespread in recent times. Despite the size and illiquid nature of stock market, its...
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Job is an important factor, and without work life is impossible as it provides us with money which is essential for life. It not only fetches money for a better living, but also provides everyday learning. If you work a job you love, your life will be very different in everything. And although you spent a lot of time in a job you love or a job that pays well, your achievements and your psychological comfort and passion are different....
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While banks would prefer an limitless potential for creating deposit to make bigger profits, there are many limitations. These limitations make the system of developing deposit non-profitable. The barriers of the deposit advent technique will be discussed in this essay. Amount of Cash Affects the advent of credit with the aid of business banks. Higher the money of business banks in the shape of public deposits greater will be the savings creation. However, the quantity of money to be held...
2 Pages
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Usually, when we make a transaction, the payment is processed by a credit card company or a bank. However, this could lead to risks such as protecting data from hackers, taking longer for international payments and expensive. Therefore, cryptocurrency helps to keep data secure and protected using mathematics as it only exists in computer networks. With digital currency like Bitcoin and Ethereum, the media attention has gained as there’s public knowledge in the modern marketplace. The main argument in favor...
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The world, as we know it now, has witnessed a gigantic transformation from the discovery of chemicals and gases to the current situation when the same have become a threat to life on the planet. This transformation has resulted in, perhaps the greatest untackled issue of modern life that is, climate change. Climate change highly owes its existence to the uncontrolled massive emissions of greenhouse gases, especially carbon. When more and more quantities of greenhouse gasses are exposed in the...
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Greece’s international reputation took a battering during the European debt crisis that dominated the first half of the last decade. The country was widely perceived as irresponsible, corrupt and inefficient. The country’s financial situation was sound when it entered the EU in the early 1980s, but it deteriorated substantially over the following next thirty years. While the economy boomed from 2001 to 2008, high spending and mounting debt loads accompanied the growth. The end of 2009 and 2010 marked the...
5 Pages
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In 2008 the world’s economy had its biggest crisis since the Great Depression in 1930. According to Britannica, this epidemic “began in 2007 when sky-high home prices in the United States finally turned decisively downward, spread quickly, first to the entire U.S. financial sector and then to financial markets overseas” (para. 1). The individuals and firms associated with this were commercial banks, savings and loans lender, mortgage offices, insurance companies, and the entire banking investment industry. It affected many other...
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In this paper, I will discuss the ideas of Adam Smith in his book ‘An Inquiry into The Nature and Causes of the Wealth of Nations’, specifically, chapter 11 in the first book which is called ‘Off the Rent of the Land’. The chapter is divided into four parts: off the produce of land which affords rent, the produce of land that could afford or not, the variations in the value of the produce, and digression concerning the variations of...
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According to Kimberly Amadeo, “65 percent or around $580 billion U.S. bills in circulation are currently used outside the U.S. 75 percent consisting of $100 bills, 55 percent $50 bills, and 60 percent of $20 bills”, which have Andrew Jackson’s portrait on them. To foreign eyes abroad, President Jackson represents our country, our treasury, and our countries financial backbone or currency. Thanks to modern media and technology, Andrew Jackson’s checkered past has resurfaced and become common knowledge among most American’s...
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Do you ever wonder when is the best time to retire from work? Can you envision yourself sitting in a rocking chair, having idle time and reflecting since the day you were born? Mandatory retirement for workers over the age of 65 is ideal in today’s society. A law that enforces a mandatory retirement will help today’s generation and many more to come in the near future because as workers pass the age of 65, they become no longer physically...
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Greece is a country in South Eastern Europe consisting of 2 mainland peninsulas and thousands of islands throughout the Aegean and Ionian Seas. It is 15th largest economy among the 27 Europe Union. Greece is a developed country with high standards of living and high human development index. Participation in the European Monetary Union was a landmark development for Greece. It bestowed on its government and private sectors a rare historical privilege: the ability to borrow in open financial markets...
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Italy’s presidents have been in conflict with Europe because of their problems ever since they achieved power in the year 2018. They say that various European countries’ technocratic rules have caused economic trouble and they blame Europe’s rigidness for the country’s downturn after the 2008 financial crisis. Since then, Italy’s growth has slowly moved along at just barely below 1 percent, behind most other European economies, and the amount of youth in Italy is at a staggering 30 percent, surpassed...
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Many countries have their alternative ways of evaluating their workers. Basing on the country’s laws and policies, some have set the age of sixty years whereas others set the age of sixty-five years because the retirement age for public servants. an honest example is that the Asian and European countries with the retirement ages as sixty and sixty-five years severally. Since the thought of the health standing of a person stands to be the premise for my argument. Then the...
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The global economic crisis affects many countries worldwide. It's a period of severe difficulties which financial institutions, markets and consumers experience simultaneously. It started in 2007, the full impact of the crisis wasn’t felt until the bankruptcy of the Lehman Brothers an investment bank in September 2008. Juneja mentioned that in the years to come they were many jobs lost and a decline in GDP of many countries was witnessed. What started as the subprime mortgage crisis quickly morphed into...
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Most of the public discussion and literature about economic development and education generally, most especially employment and education, is based on two major economic processes. First, is the interaction between the politically responsive supplies and the demands that are economically motivated in determining the number of schools provided, who can access these places, and the kind of instruction given. Second, is the important difference between private and social costs and benefits of the different educational levels as well as the...
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Since the catastrophic global financial crisis, which was directly caused by the burst of the housing bubble and mortgage default, in 2008, the Federal Reserve alone has injected roughly 7.6 trillion dollars into the global economy by the end of 2019 in order to facilitate the recovering of the economy and mitigate recessions. An alternative asset which is called digital currency or cryptocurrency emerged in 2009 due to the rising distrust of central banks and the worries over inflation. The...
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Everyone knows that Greece is famous for its rich history, mythology, and architecture. But they cannot rely solely on tourism to keep their economy afloat. There were some key mistakes and mismanagements from their government threw them into a deep, deep hole. When Greece joined into Europe, they were doing well financially. In 1981, the party that rose to power was the Panhellenic Socialist Movement, spearheaded by Andreas Papandreou. They stayed in power due to what some would call bribing...
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A financial crisis is a situation when businesses and consumers are unable to pay their debts, asset prices depreciate, and financial institutions go through a shortage of liquidity. There are several types of crises, including stock market crash, financial bubble or a currency crisis (Dabla-Norris et al., 2015). All these crises have similar causes, and the consequences are much more alike. Among the most common causes of the financial crisis include a mismatch in liquidity. On rare occasions, financial institutions...
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A cashless society is a society in which purchases of goods or services are made by credit card or electronic funds transferal rather than with cash or checks. The economic concept of a cashless society appeared as early as the 17th century, but it was presented as a check at that time. Then it slowly evolved to credit card and debit card, and then into today's e-wallet (LightNet, 2018). Today, a cashless society has become a controversial hot topic when...
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In the United States, citizens take their credit scores seriously since they can affect how they live their lives. They show the creditworthiness of people to lenders who then decide if these banks or credit card companies should provide people with loans if needed for purchases. In China, the government takes these scores more vigorously and instead of taking out loans, these scores are decided based on the honesty and integrity of their citizens. If a citizen is behaving correctly...
3 Pages
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Cryptocurrencies are digital currencies that work under blockchain which secures and controls the transaction that occurs through the network. This was created to send online payment directly without the interface of the banks. This decentralized network was created by Satoshi Nakamoto so that anyone could use it but no one can own it. The first most popular type of cryptocurrency is bitcoin. Other examples of cryptocurrencies are Namecoin, Ethereum, Litecoin, Ripple, Dogecoin or Zcash. The total number of cryptocurrencies sums...
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Over the past generations, there has always been three classes of wealth: the upper class, middle class, and the lower class. And not to mention, high Income earners likely are substantially educated, have high-status occupations, and maintain powerful social networks. The upper class, however, only makes up to 3% of the population of the United States, with 2% earning millions per year and 1% percent earning hundreds of millions to billions per year. There are pros and cons of being...
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The issue of liquidity is going to be my main focus point when looking at the 2008 financial crisis and it will constantly crop up. Liquidity refers to the ease with which an asset, or security can be turned into cash without affecting its market price. In the period leading up to the Great Recession there was a massive increase in the availability of credit for banks and loan providers which in addition lead to an increase for consumers, in...
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Before the havoc wreaked the markets in the United States and across the globe in 2007, the world’s economy was booming and expanding, growth rates of output significantly increased. Surprisingly, this expansion started to stop when the housing prices which has seen an increase over the years began to fall. Some economists were of the view that the fall in the pricing of houses would not result to a credit crunch, although it can decrease the spending of customers. Their...
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Happiness is something essential in our everyday lives. It is a part of the building blocks of living a good life. I find joy in wrestling, family, friends, my phone, and fun activities. I find happiness and joy in these because I am usually spending time with the ones I love and care about. Other people can find happiness in many things whether it’s their car, house, family, and many others. This leads us to the question… can money buy...
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Introduction 'Chi cheng!' the sound of money passed over my ears again. Do you love this kind of sound? Yes, there is someone purchasing something but there is none of my business again. Everyone said, money is not everything, but you can't do anything without money. Even though there are some people who feel that there is still something that could not be bought. However, what I wish to ask is, will you be happy without anything even like necessary...
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The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors. The Marshall Island is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for citizens and businesses on the island and worldwide. This plan was created by Israeli fintech company Neema. It is the...
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For policymakers trying to assess the impact of exchange rate movements on the real economy, these results provide various important insights. Firstly, the short-run impact of a real depreciation on firm’s output growth is likely to be negative since it is the import cost channel that dominates in the short run. Further, the impact is asymmetric, with real depreciation having a stronger impact as compared to real appreciation. At the same time, maintaining a competitive real exchange rate is imperative...
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Foreign Exchange is the process of conversion of one currency into another currency. For a country its currency becomes legal tender. For a foreign country it becomes the value as a commodity. Since the commodity has a value its relation with the other currency determines the exchange value of one currency with the other. For example, the US dollar in USA is the currency in USA but for India it is just like a commodity, which has a value which...
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“The game is rigged to work for those who already have money and power.” The celebrity world is driven by money, fame and power. The ones we look up to, our “role models” aren't playing by the same rules, or even the same game. They are teaching us that money and power protect you from justice and consequences. It is time for the likes of R.Kelly and Brett Kavanaugh to stop hiding their criminal actions behind dollar bills and powerful...
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