The Structure of a Financial Crisis Essay -- Economics Economy Finance

The Structure of a Financial Crisis INTRODUCTION   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The year 2001 had been unlucky for Turkey. Apart from the crisis in 1994 and November 2000, the country had to face another financial crisis, causing problems in the management of its economy. Why does a country delve deep into financial crisis? What are the possible immediate triggers for both the current and potential new crises? What precautions should be taken for the key issues like the fragility of the financial and banking system, belated reforms and privatisation, rampant corruption, exchange rate policy? And how can the governments satisfy the markets and people to undertake these reforms? The current crisis has not hit the country overnight. This article figures out the weakness of the system, years of neglect and mismanagement, possible solutions for other developing countries. One has to bear in my mind that even evaluating the aftermath of the 1994 crisis, Turkey was a rising star, with aspirations towards full membership to the European Union. Among the potential applicants of EU membership, - mostly the Transition Economies of Eastern Europe- Turkey was the mere applicant with a functioning Customs Union with the EU back in 1995. With a relatively large and dynamic market, having high hopes for rapid economic and social progress, Turkey seemed a valuable candidate for the European Integration. Now after the 2000 November and 2001 February crises, the shrinking of the economy suggests that Turkey can only catch up with the figures of year 2000, as far as the year 2004, let alone the EU membership and further growth. To indicate why such a failure has been suffered, we have to go back to the roots of mismanagement. And that begins with the problems of Privatisation practices. THE INITIATION OF PRIVATISATION Privatisation has proved to be a successful method for improving institutions and maintaining corporate efficiency all around the world. But under certain conditions either privatised firms can get into serious difficulties or delaying the privatisation programs could trigger economic crises, together with the impact caused by years of mismanagement, not undertaking the progressive reforms and corruption - as experienced in some of the transition economies of Eastern Europe, Central Asia, Far East, and as is the case in this article, in Turkey THE FIRST ... ...90, January 2000, William Davidson Institute. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Feldstein, Martin "Refocusing the IMF," Foreign Affairs, March/April 1998, pp. 20-33. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Harris- White, Barbara and White, Gordon (eds.), ''Liberalization and the New Corruption,'' IDS Bulletin, Vol. 27 No: 2 , 1996 †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Nas, F. Tevfik and Odekon, Mehmet (eds.) '' Liberalization and the Turkish Economy'' 1988, Greenwood Publishing Group. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rittenberg, Libby, (ed.) ''The Political Economy of Turkey in the Post-Soviet Era: Going West and Looking East?'' 1998 Praeger Publishing †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Shaker, Sallama State, Society and Privatisation in Turkey, 1979-1990 (Woodrow Wilson Center Special Studies)1995 Johns Hopkins Univ. Pr. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Togan, Subidey, Balasubramanyam, V.N. (Eds.) ''The Economy of Turkey Since Liberalization,'' 1996 Palgrave Publishing. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ucer, E. Murat " Monetary Policy Practice in Turkey: From the 1994 Crisis to the Present." October 1999, mimeo, Credit Suisse First Boston, Emerging Markets Economic Research †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Vishwanath, T. and Kaufmann, D. "Toward Transparency: New Approaches and their Application to Financial Markets", The World Bank Research Observer, Volume 16, No.1, Spring 2001.

Sir Gawain and the Green Knight :: Essays Papers

Sir Gawain and the Green Knight What makes a man a hero? Where lies the line which when crossed changes a mortal man into a legend? Is it at the altar at Canterbury? in the Minotaur’s labyrinth? or is it an age or a time? Does a man become a hero when he transforms from a boy to an adult? or when he stops being a man and becomes a martyr? Where are the heroes of 1993? In whom do the children of this age believe? Like whom do they strive to be? Kennedy, Lennon, and even Superman are dead. World leaders are mockeries of real men, more like Pilates than Thomas Mores. Pop culture’s icons change daily. It is interesting that nearly 600 years ago someone was writing about heroism in a way that can be understood today. The poet of Sir Gawain and the Green Knight tells a tale in which a man is proven to be a hero through the seemingly un-heroic decisions made in the course of numerous tests. Sir Gawain is a hero for the 21st century. He is tried and trapped, he is inundated with opportunities to fail and yet he does not lose. More importantly though, in the end he learns an essential, inescapable fact about himself and human nature. What makes a man a hero? Just before he leaves Camelot in search for the Green Knight, Sir Gawain gives perhaps the best possible answer to this question: â€Å"In destinies sad or merry, True men can but try.† Tests and decisions are as numerous in any man’s life as are the beats of his heart. The consequences he incurs follow him forever; he is judged by them and they affect his entire existence. Gawain’s statement is not merely profound sentiment, useful even today as a measure of a man’s mettle. It is also, coming as early as it does in Part II of the poem, a harbinger of how Gawain’s tale may end. It tells a reader that Gawain means to do his level best in his grand endeavor and if in but one small way he should fail, do not persecute him until considering how a different man may have fared. Gawain, similar to most of the characters in the tale, is tested on several occasions. In the poem, as in real life, judgment should not be passed on a man’s single decisions individually, but only by observing how he has chosen to live his life. Sir Gawain and the Green Knight :: Essays Papers Sir Gawain and the Green Knight What makes a man a hero? Where lies the line which when crossed changes a mortal man into a legend? Is it at the altar at Canterbury? in the Minotaur’s labyrinth? or is it an age or a time? Does a man become a hero when he transforms from a boy to an adult? or when he stops being a man and becomes a martyr? Where are the heroes of 1993? In whom do the children of this age believe? Like whom do they strive to be? Kennedy, Lennon, and even Superman are dead. World leaders are mockeries of real men, more like Pilates than Thomas Mores. Pop culture’s icons change daily. It is interesting that nearly 600 years ago someone was writing about heroism in a way that can be understood today. The poet of Sir Gawain and the Green Knight tells a tale in which a man is proven to be a hero through the seemingly un-heroic decisions made in the course of numerous tests. Sir Gawain is a hero for the 21st century. He is tried and trapped, he is inundated with opportunities to fail and yet he does not lose. More importantly though, in the end he learns an essential, inescapable fact about himself and human nature. What makes a man a hero? Just before he leaves Camelot in search for the Green Knight, Sir Gawain gives perhaps the best possible answer to this question: â€Å"In destinies sad or merry, True men can but try.† Tests and decisions are as numerous in any man’s life as are the beats of his heart. The consequences he incurs follow him forever; he is judged by them and they affect his entire existence. Gawain’s statement is not merely profound sentiment, useful even today as a measure of a man’s mettle. It is also, coming as early as it does in Part II of the poem, a harbinger of how Gawain’s tale may end. It tells a reader that Gawain means to do his level best in his grand endeavor and if in but one small way he should fail, do not persecute him until considering how a different man may have fared. Gawain, similar to most of the characters in the tale, is tested on several occasions. In the poem, as in real life, judgment should not be passed on a man’s single decisions individually, but only by observing how he has chosen to live his life.

Google vs. Yahoo

Many people around the world use search engines everyday to find information quickly. However, not many people realize that each search engine is different from each other. Every search engine is unique because they will all produce different links when a word or phrase is searched for. This means that some search engines will be better than others. Two main search engines are Yahoo and Google. Although Yahoo and Google both perform the same task, Google is a better search engine because it has a simple layout and provides links that are more relevant to the item that is being searched for.Google has a simple homepage that is about 90% white with a search bar in the center below its logo. Yahoo's homepage has a variety of items on it such as moving images and attention-grabbing headlines. This argument may seem like it is in favor of Yahoo, but in reality Yahoo's flashy homepage can distract people for a long time. People that go to Yahoo can waste their time reading about topics tha t have nothing to do with what they originally wanted to search for while people who go to Google aren't distracted by their almost blank layout.Google and Yahoo both provide links with information about the topic that is searched for but Google's links have information that are more related to the topic. Surveys have been done where the most popular search engines (including Google and Yahoo) were tested to see which one gave them the best information about the topic that was searched for. The end result was that 94 out of the 100 people that did the testing agreed that Google was the best search engine because its results were the most relevant.Most of Yahoo's results displayed pages with irrelevant information after the first three or four results. When Google was used, the information that the testers wanted was found in the first or second link. They all said that they didn't have to even go on to the second page because the first page of links was more than enough for them. Go ogle's search engine has been tested and proven to be superior to Yahoo. Although the Internet may seem like a very common thing, many people are still getting introduced to it and its many functions.These types of people will not be used to something such as a search engine so it is important to keep the search engine simple and easy to use. While it is true that Yahoo's homepage can give people an idea about all the things that the Internet can do for them, it may be hard to navigate to something such as the search bar amidst the cluttered bundles of information. I think that we should keep search engines simple so that it will be easy for people new to the Internet to utilize it.

Organizational Behaviors Essay

Every organization knows that they need a good leader to run their companies and make sure that everything is going well. Therefore, it is important that leaders have the capacity to lead themselves first before trying to lead others. If they do not have power over themselves, they will not be able to properly demonstrate their leadership skills to their subordinates. Self leadership takes several processes where people have the ability to control their own behavior. To acquire self-leadership skills, a person must first â€Å"practice self-observation, setting challenging personal goals, self-direction, and self-reinforcement. Every thing must come from one’s self first before it could be given to others. This holds true when it comes to leadership. A person cannot lead others if he or she cannot lead him or herself. If others cannot see effective leadership skills in an individual, they might not follow the person and bypass his or her authority. A good leader should also make it a point to encourage his or her subordinates or colleagues to establish their goals, which is important to have even for one’s personal life. Goals establish direction, as to where a person is heading and what his or her plans in life are. They make an individual motivated enough to achieve what he or she wants in life and be successful in the future. They would become goal-oriented individuals, which would ultimately benefit the organization in the long run. Motivation is an important factor for an employee because if this is not present, the employee might feel burnt out from the job. Self-rewarding, no matter how big or small, can influence a worker to perform better and develop a better attitude towards the work and workplace. Having this kind of behavior would result to a successful organization and more harmonious relationship in the working environment. Self-leadership can also be acquired through positive thinking. It is always better to think of the brighter side of things rather than dwell on the negative things. Having a positive outlook can change one’s perspective on things and can look at situations differently, which would result to better judgments and better leadership skills. It is also important for leaders or employers to create an environment that is suitable for self-leadership. Employees will feel that they are important when they have opportunities to grow in terms of their professional paths. They can demonstrate their skills better and become motivated because they know that their efforts will return appreciated. The final thing that employees need to remember when trying to learn self-leadership skills is to allow self-criticism. A mature person knows that he or she cannot please everyone and criticisms should be regarded as positive things taken to improve one’s self. If an individual take criticisms personally it could be destructive and would affect his or her performance at work. Self-criticisms provide a way for people to be aware of their actions and that they are not perfect. They should remember to always have room for improvement. Leaders who can lead themselves as effective as how they lead others are important, especially with the emergence of groups or teams at the workplace nowadays. People who do not know how to direct themselves would have a hard time making others follow them because they themselves do not demonstrate what and how a good leader should be.

Computer-Mediated Communication

Many problems arise when people communicate over the internet. In fact, over the past few weeks, with our class communicating via email and GoogleSites, I encountered a few obstacles. It was difficult to process all the information being sent out. I was wary of reading every single post because it was just so much information. I certainly thought it was a great way to really see how computer mediated communication affected relationships. The interesting thing is that my generation is so keen on using facebook, twitter, myspace, etc. But when it comes to something like email, it feels disorganized or confusing to us.When it came to the GoogleSites, I found it difficult to navigate through everything. I rarely check my email and really just use it to send junk mail to. Relationships develop differently over the internet than in person or over the phone. For one thing, the internet creates a certain veil for people hide behind. Here you can take as much time as you like to think about w hat you will say. You have much more power to direct which way the conversation will go. You have the ability to say whatever you please without much of a consequence. There is also a huge disconnect between the two people communicating.It's not uncommon for strangers to get in heated political debates, saying hurtful things in order to get a message across. It's much less common to lose control of yourself when speaking face-to-face because there are possible consequences if you offend the other person. You may feel more sympathy and guilt. Whereas on the internet, the disconnect is greater. The internet can be very beneficial for relationships, however. For instance, many people who have difficulty communicating their thoughts to people in person, now have the ability to speak freely and comfortably.They often find it easier to talk to another person this way. Another benefit is the easy access to communicating on the internet when no other communication is available. Soldiers acr oss seas may be able to speak daily to their loved ones over the internet. During the wars before the internet, soldiers relied on written letters. This may be a more romantic and story tale way of communicating, but the reality is, the internet brings much comfort to the soldier and his family. There are obvious downsides of communicating over the internet. Relationships may often develop too rapidly or dishonestly because of it.Feedback from one person to the other may become unclear create confusion. In person, because of body language, eye contact, and vocal tone, it is much easier to communicate clearly and express your thoughts. While we can still express our thoughts on the internet, we must take into account that our voice, body language, and tone, are all missing. It is especially important to express your thoughts clearly on the internet so that all audiences and people you are speaking with understand you clearly. The internet is a window to almost all information you cou ld possibly be in search for.It is the world in the palm of your hand. Yet most people do not use it for this purpose. It can be a huge distraction and time waster when it comes to getting things completed. Students often use it as a way to keep their minds off of homework that needs doing. I strongly believe that it contributes to a person's attention span, making it easy to multitask and do a million things at once. Life used to move more slowly, assignments were done thoroughly and thoughtfully with complete attention on the task at hand. Now, students may find it difficult just to sit down for an hour and focus on one thing.When things need doing, they are usually done quickly and thoughtlessly without much effort being put into it. The one thing that makes computer-mediated communication different from any other form of communication is the speed at which you can communicate. There is almost no waiting for the message to be sent, just instant communication. The beauty of commun ication before the internet was how important it was to people. They held it very close to themselves and it was a very personal thing to everyone. Now, communication has lost its quality. Sure, it's communication, but it's not nearly as personal.People speak without thinking, or even feeling. Relationships are diluted because of the internet. They are not as genuine, as rare, as special, anymore. Relationships formed before speaking on the internet may still be genuine and valuable. But relationships formed on the internet often develop too quickly and possibly dishonestly. There is no sure way to tell when a person is telling the truth and it is much harder to get to know a person this way. To overcome the problems associated with computer-mediated communication we must be able to trust what we are reading from the person sending the message.The biggest and most crucial rule I would create would be honesty. It is so easy to form a different identity on the internet. A very extreme example of this would be child molesters pretending they are teens in chat rooms or on facebook to befriend younger children. Though this is a really extreme case, it just goes to show that when people are given unlimited opportunities to do what they please without any consequences, what they may never think to do in reality is now a possibility. By staying honest to the person, as well as that person remaining honest, communication can become much clearer.When we can trust what we read, we can continue on with the relationship. Another rule to ensure clear communication would be the use of proper spelling and grammar. Many messages can be misleading because of misspelled words and can even give the impression to the reader that the person is uneducated. Incorrect spelling can create an image of the speaker that is not a true representation of themselves. I believe these two rules are the most crucial in ensuring that a message via the internet is interpreted correctly.

Business Law Essay Example | Topics and Well Written Essays - 750 words - 16

Business Law - Essay Example This is because after the purchase of the vehicle, it developed various mechanical problems that led him to sue the seller of the vehicle. Ford Motor Company is a company that deals with motors. Denny is suing Ford Motor Company for the injuries that she sustained from the accident. The accident occurred as a result of her trying to avoid a deer that was walking directly into sport utility vehicle (SUV) path. In her case she argued that she purchased Bronco for the purpose of using it in a paved city and not for off road use. Peter and Geraldine Tabala are debtors who purchased a house and carvel ice cream business from carvel incorporation. Carvel incorporation is suing Tabala for failure to pay debt obligation of $100,000. The couple however had transferred their house to their three daughters and is claiming bankrupt forcing carvel incorporation to sue them. Top Quality is Auto sales that deal with used old cars and its inventory is financed by credit obtained from ICE. ICE is suing Alderson for recover the truck that was sold to them by Chrisman who had bought the same truck from Top Quality. On selling the truck to Alderson and Christiana, they found out that the truck had not been paid for by Top Quality to ICE. Dan miller is a professional photographer who takes series of photographs some appearing in New York Times. Miller is suing Newsweek newspapers for his photographs that were lost. Newsweek newspaper had requested 72 photographs from Miller which they were to use for their commercial. On delivery of the photographs Miller attached a delivery memo that contained various conditions for example that in each photograph that was lost, Newsweek was to pay $1500 for each of the lost or destroyed photo. Newsweek however decided that they were no longer in need of the photographs they told miller that the photos were lost, Miller demanded for payment but they declined forcing him to sue them. A&M was a small

Christian Democracy Essay Example | Topics and Well Written Essays - 1500 words

Christian Democracy - Essay Example We combine the principle of centralization and that of popular sovereignty. Christian Democracy had, for all intents and purposes, begun with the immediate pre-war period. Thus, unlike political movements like socialism, or even liberalism, Christian Democracy became an important political force before it had matured ideologically. As a result, the development of its ideology was inhibited by the pressures of political responsibility. The Italian Christian Democratic Party, for example, was founded in 1943 and came to power in 1948. It was never able to develop its autonomous self separately from a close and intimate relationship with the state. The Christian Democratic phenomenon raises several puzzles: the contradiction between these parties' religious roots and their enduring success in the heart of one of the most secular social environments in the world, western Europe; the success of religion in structuring impressively successful political parties at a time of general secularization and decline of the institutional power of the church; the translation of religion, a supposedly premodern cleavage, into mass parties, the modern political weapon par excellence; the emergence of confessional parties in some countries but not in others; the domination (and often monopolization) of the bourgeois political space by confessional parties; the integration into... Solving these puzzles requires a theory of Christian Democracy. Such a theory should specify the conditions under which parties that appeal to voters on religious grounds form and succeed; account for the failure of such parties to emerge in seemingly favourable environments; and determine the impact of confessional parties on the politics of the societies in which they operate and the ways in which they shape the relationship of religion and politics. (Stathis, p.2) European Scenario One of the initial problems that European Christian Democratic leaders had to overcome was the traditional reluctance of many devout Catholics to get involved in politics. After the unification of Italy by a liberal, anticlerical movement in 1870, the popes exhorted their followers to stay aloof from politics. At the time of the virulently anti-Catholic phase of the French Revolution, many French Catholics adopted similar positions of separation and intransigence. Both the French Revolution and the Italian unification were accompanied by substantial increases in state power. This meant significantly less respect for traditional ecclesiastical prerogatives. The Church and many faithful Catholics reacted to this state usurpation by attempting to withdraw from the political system and withholding their cooperation. This attitude split the Catholic faithful, with some believers maintaining that they ought to participate in politics, even under a liberal, anticlerical state, to "Christianize" the political process. (Einaudi, 187-90) By the beginning of the twentieth century, the official Church position toward the liberal state had softened somewhat. In 1891, Pope Leo