THE IMF Essay Example | Topics and Well Written Essays - 500 words

THE IMF - Essay Example Aside from all of these, the IMF has specific functions and initiatives created to help ensure financial stability in the world. The IMF, with its provision of world liquidity, allows countries to deposit reserves in a form of money, gold, or any convertible foreign currencies that can be used in times of needs or deficit, at least in a short span of time, while finding the resolution of financial problems may be ongoing (Gilpin, 2011, p.246). This initiative could be found under the Special Drawing Rights (SDRs), by which countries should make sure of official reserves as an exchange of IMF’s supplementary actions for its members (International Monetary Fund, 2012). SDRs are â€Å"potential claims on the freely usable currencies of IMF members, so they are â€Å"neither a currency, nor a claim on the IMF† (International Monetary Fund, 2012). In other words, the IMF could provide the best option in providing a country some financial alternatives while it may be still looking for eventual solutions to obtain the desired liquidity. Countries placing reserves at IMF are therefore able to obtain fi nancial assistance especially in times they are in need of restoring financial liquidity. Liberalisation of international free trade is important for economic benefits. After all, international trade by itself affects the world economy. The IMF has a great role to play in the liberalisation of the economy. While regulations and policies are crucial to the success of the liberalisation of international free trade, the IMF considers some important steps in order to guarantee globalisation will work for all. One important actions it comes to consider is a â€Å"successful trade round† (International Monetary Fund, 2001). According to its report, the IMF disclosed information revealing impoverished countries engaged with its policies and facilities to have come to

Information Flow in an Organization Essay Example for Free

Information Flow in an Organization Essay Depending upon the organization information is used and disseminated accordingly. Information flow plays a very important role, and is a critical component among businesses who seek to be more successful than their competition. Companies cannot operate without a proper and concise information flow which is accessible through the company’s different departments. The IT department and information systems are mainly responsible for providing ways for the various departments within the company to have access to applications and systems that assist employees in accomplishing their jobs with more ease. Businesses today rely heavily on information technology, and software applications to assist the different departments through helping them complete their daily tasks and functions in a faster and better manner. Software applications help the information systems run in a way that allow employees to perform more tasks in less time and help everything run smoothly together similar. As I examine my current employer I can see how important information flow is to the success of our company. Information is used to work together with every department; however it is easy to point out how it flows by examining each department such as Sales, Engineering, Programming and Production. As orders are placed, our sales department is the first step in information flow in my organization. Customers have specific requirements for each machine they purchase which generally always differ from previous versions we have made. Once the sales orders and specifications are in order they are sent from the sales department to our Engineering department to be designed. There are several different draftsmen and each has their own area of expertise. The Production Manager assigns the frames and machines to be designed to the draftsmen based on the specifications given by the customer. Also, while in Engineering, the machines are given job numbers that will follow them throughout the shop so that it may be tracked as well as allow employees to clock into the proper job. Having a specific job number tied to a specific machine also allows management to review every individual that has worked on these machines at any time. After the machines have designed and approved they are then sent to the programming department. The programming department is responsible for tearing the machines apart in a CAD system known as SolidWorks and separating the frame from the sheet metal. After this has been completed the next step is to individually program each piece of tubing in the frame and apply the proper programming required for optimum cutting time on the laser. The next thing that is programmed is all the sheet metal parts. In order to program sheet metal, the part which is drawn in solidworks, must be saved and transformed into a DXF file. These files are put into a software called SigmaNest and programmed fairly easy. Once all elements of the machine has been programmed, the programming department takes the programs, the job related to the machine, the machine drawings and specifications, and the sales order and hands it off to the Floor Manager for Production. After the Floor manager has all this information, he decides which machines to cut and in what order to cut them in based on shipping dates. He then takes the machine programs, jobs, and drawing and pass them out to the proper departments which will work on cutting, assembling, painting, and testing each one of our machines before they are sealed and shipped off to any of our customers throughout the world. Information flow is essential in any business in maintain functionality as well as productivity. Without some sort of order, without some sort of standard operating procedures our company could not be one of the leading manufacturer of agricultural machinery in the world.

Chemistry Term Paper :: essays research papers

Organic chemistry is the study of essentially all substances containing carbon. Organic compounds that contain only carbon and hydrogen are called hydrocarbons. The simplest hydrocarbons are the alkanes which contain only single covalent bonds. Methane is the simplest alkane. It is also the major component of natural gas. Methane contains only 1 carbon in the molecular formula and the structural formula. There is ethane which is 2 carbons, propane that is 3, butane which is 4, pentane which is 5 and so on. There are also alkenes. Alkenes are hydrocarbons containing carbon-carbon double covalent bonds, and last but not least there is the alkynes which are hydrocarbons containing carbon-carbon triple covalent bonds. They also have different names. Alkanes end with –ane. Alkenes end with –ene, and alkynes end with –yne. In organic chemistry there are also isomers, isomers are One of two or more compounds that have the same chemical formula but different arrangement s of the atoms within the molecules and that may have different physical/chemical properties. For example, CH3OCH3 and C2H5OH are isomers. They both have the same amount of carbon atoms but are arranged differently. Organic chemistry is used EVERYWHERE. For example methane, which is a gas produced by flatulence, that gas is also found in marshes.   Ã‚  Ã‚  Ã‚  Ã‚  An acid is a compound that produces hydrogen ions when dissolved in water. Therefore, the chemical formulas of acids are of the general form HX, where X is a monatomic or polyatomic ion. When the name of the anion ends in –ide, the acid name begins with the prefix hydro-. The stem of the anion has the suffix –ic and is followed by the word acid. Therefore, HCL is named hydrochloric acid. When the anion name ends in –ite, the acid name is the stem of the anion with the suffix –ous, followed by the word acid. Thus H2SO3 is named sulfurous acid. When the anion name ends in –ate, the acid name is the stem of the anion with the suffix –ic, followed by the word acid. Thus HNO3 is named Nitric acid. A base is a compound that produced hydroxide ions when dissolved in water. Ionic compounds that are bases are named in the same way as any other ionic compound—the name of the cation followed by the name of the anion. For examp le, NaOH a base used in making soap and detergents is called sodium hydroxide.

Baque-Manalang Dental Clinic Online Reservation Essay

Introduction The use of online services nowadays becomes more necessary in the various fields. It is because of the advantage and useful effects to many people when it comes to online reservation because our society is facing rapid growths of need, availability and development of different commercial web-based application. The online reservation services differ from the traditional mode in the capacity to provide services regardless of temporal and spatial constraints. They are also different from traditional interpersonal services that are delivered face-to-face. It allows persons to employ Information Technology without being tied to a single location. This technology enables users to access the site at any time in any location. A suitable use of the online reservation services and wireless technology allows new application, management and reservation for dental clinic via online services. The objective of online reservation is to reduce the effort and the time for the customers to set appointm ent and to receive services and improved the reservation validation efficiency. Background of the study Baque-Manalang Clinic is a dental clinic located at Hilario St., Ligtasan, Tarlac, Tarlac. It is owned by Dr. Eillen B. Manalang, DMD, established since 1992. The said clinic is operated by one dentist, two dental assistants, one dental photographer, four front desk staff, and one dental technician. It offers teeth maintenance, enhancement techniques and cosmetic dentistry services. The clinic’s operating hours is 8:00 AM to 5:00 PM on weekdays and 10:00 AM to 5:00 PM on Saturdays. Daily they are accommodating an estimated 15 to 20 patients from Tarlac and nearby provinces. Despite its popularity, the said clinic is still using traditional reservation system. Statement of the Objective Despite its popularity, the said dental clinic is still using traditional reservation system which is time consuming and prone to problems like long waiting line and crowded queue. So in line with it, the following objectives are enumerated to cognate the problems. Specifically, it aims to accomplish the following: 1. To design and develop an online reservation system that aims to strengthen the weakness found in existing traditional reservation system. 2. To validate the developed system in terms of: 3.1. Effectiveness and efficiency 3.2. User friendliness 3.3. Security of data 3. To determine the proposed system feasible through Cost Benefits Analysis. Scope of the Study The scope of this study will focus on the patients, who will use the system to make the appointment via online service. The prototype can be used by the staff and dentist to manage the appointment for the dental clinic via online system for those who would like to set an appointment anytime, anywhere. This study is mainly focused on providing a website for Baque – Manalang Dental Clinic. The said website includes: * Online reservation or scheduling exclusively for registered patients. * Clinic information – address, site map, profile of dentist, etc. * List and price of services offered and the time allotted for services to be consumed. * Services-directory where the patients can view the information about the preferred service to take. * Information and tips on how to prevent dental problems. Delimitations The proponents limit this study for Baque – Manalang Dental Clinic only. Only current patients with previous transactions are given with accounts for the online reservation system. Only trained personnel can conduct the site maintenance of the proposed system. Significance of the Study This study is viewed to be valuable to following: Clinic. The proposed system will simplify and automate the clinic task inline with reservation to provide the clients with better service. Dentist and Staff. The proposed system will help the dentist easily identify the patients as scheduled online. Patients. The proposed system will help patients reduce their waiting time and provide them assurance to be accommodated as scheduled online. Definition of Terms In order to provide an adequate channel of communication between the researcher and the readers, the following terms arranged alphabetically and defined conceptually. Access. Access is to obtain entry to a particular program; with records and network entry procedure. Computer. Machine that performs a wide variety of activities with reliability, accuracy, speed and tasks, such as mathematical calculations or electronic communication, under a control of a set of instructions called a program. Internet. A means of connecting a computer to any other computer anywhere in the world via dedicated routers and server. Online. Activated and ready for operation; capable of communicating with or being controlled by a computer. Prototype. An original, full-scale, and usually working model of a new product or new version on an existing product. System. Any collection of component elements that work together to perform a task. Website. The file of information located on a server connected to World Wide Web (WWW). It includes text, photographs, illustrations and video, music and computer programs. It also often include links to other sites in the form of hypertext, highlighted or colored text that the user can click on with their mouse, instructing their computer to jump to the new site. Reservation System. A system that involves the process of reserving and booking of appointments on a specific date and time. CHAPTER 2 Review of related Literature and Studies This chapter presents a review of conceptual literature which is supported by studies relevant to this study. The review of literature focuses on online reservation for Baque-Dental Clinic. Related Literature Foreign Eric Richard (2012) .Consumers these days almost expects an online presence from a company or business. In fact, they may look past businesses that are not online or consider another provider. Convenience is a big factor in an individual’s decision-making process, and not offering customers what they want can put a business at a big disadvantage, especially if their  competitors offer this benefit. Convenience plays a big role in our â€Å"24-7† world. Many people simply do not have the time to pick up a phone during business hours to book an appointment. Some would much rather go online and schedule it when it’s most convenient for them. Online scheduling software makes it easy to accomplish this. Once a business sets up its scheduler, it can then add a button or link on its Web site for customers to access its online scheduler. Once on the scheduler page, customers typically can view and select available appointment or reservation times and dates, as well as other information such as services and specific staff members. Depending on internal preferences set by the business operator, the scheduler may also require the customer to register to use the service. Even businesses without a Web site can implement online scheduling into their operations. Once a business creates an account and scheduler, the service will issue it a URL link. In essence, the scheduler itself is a Web site. Entering this link in a Web browser will take a user directly to the scheduling application. Businesses can simply provide this link to customers. Eric Richard (2012) .For many service oriented business, accurate and timely reservations are necessity to ensure proper service and a positive customer experience. From tour operators and boat rental providers to managers of athletic fields and facilities, these groups must have a proven reservation system in place, not only for internal scheduling processes, but also for the convenience of their customers. Traditional reservation procedures often come up short in both regards. And it’s for these reasons that many business, organizations and individuals are incorporating online reservation systems into their operations. Booking and managing customer reservations, although a vital component of many service-based groups is generally viewed as time-consuming and tedious. The traditional manner of scheduling reservations doesn’t help refute this statement: It usually involves booking reservation over the phone and by e-mail, then recording and managing the dates, times, services and customer contact information in separate appointment books, files, spreadsheets or folders. Not only does this method require a considerable amount of staff time, it also does not give customers the ability to book their reservations when it’s most convenient for them. Many individuals simply do not have the time to call in a reservations or appointment during normal business hours. This can lead to two different scenarios: The person  can either book the reservation online (if the service provider offers this option), or he or she can leave a voice message, in which case the provider must take the time to follow up with the individual (and possibly engage in a game of â€Å"phone-tag† until a specific reservation time is agree upon). Most will agree that the former is the more appealing of these two schemes. An online reservation system is generally the best option for these service-providers to automate and improve their booking processes. Commonly referred to as Software as a Service (SaaS) and cloud-computing applications, this technology is accessible through any Internet connection and typically does not require any installations, downloads or expensive hardware. SaaS is software delivery method that provides access to software and its functions remotely as a Web-based service. Software as a Service allow organizations to access business functionality at a cost typically less than paying for licensed applications since SaaS pricing is based on a monthly fee. Also, because the software is hosted remotely, users don’t need to invest in additional hardware. Software as a Service removes the need for organization to handle the installation, set up and often daily upkeep and maintenance. Software as a service may also be referred to a simply hosted application. Both the service provider and its customers access is in the same manner as any Web page. Like online data storage and document uploads applications, online reservation systems are securely housed online and not confined to an individual computer terminal or network. This characteristic not only makes it possible for customers to book reservations online, it also give service providers and their staff the ability to access their reservation calendar and customer details from any Internet connection, a valuable benefit for those individuals who must have access to this information from outside their office. Booking customer reservations with a pen and paper appointment book simply doesn’t cut it in today’s busy, 24-7 world. Technology has caught up with all office procedures, including booking processes, and service providers that tap into these online reservation systems can expect a significant improvement in their overall operations. And on top of that, they’ll have more satisfied customers. Local Alice Adams (2011).Kabayan Hotel Cubao has recently integrated a reservation  system in its website for a more efficient online booking. Through this technology, travellers worldwide save time and effort in reserving accommodations as the user-friendly booking engine makes the whole process a simple and effortless activity. Online hotel reservations are becoming popular method for booking hotel rooms, and Kabayan Hotel Cubao takes this opportunity to ensure fast reservations for guests from different parts of the world. This easy-to-use system, powered by DirectWithHotels, is now fully functioning at its website, http://www.kabayanhotel.com.ph/cubao.php. With this, guest only have to go through a very short booking process to be entitled of a comfortable stay at this budget hotel. Upon clicking the â€Å"Reserve Now † button, visitors can immediately select arrival and departure dates, navigate their way to their preferred guestrooms, and view the inclusive amenities and room rates. And after paying a 10% deposit, which is certified by Trust wave and secured by VeriSign, they instantly receive confirmation directly from the hotel via e-mail. With just a few clicks of the mouse, guests are guaranteed to experience amazing ease and warm Filipino hospitality at this budget hotel in Quezon City, Philippines. Manila Bulletin Publishing Corporation (2012). BooktoEat.ph now offers the opportunity to book restaurants online, in real-time just like booking in a hotel or an airline. The days of waiting hours for a restaurant to open, call back, respond to an e-mail or a telephone message will soon be over. A real-time reservation completely automates the reservation process. When making a reservation using BookToEat.ph the reservation is instantly confirmed in the restaurant’s Electronic Reservation System. This is the same Reservation System that used by the restaurant to manage all of its bookings so it automatically checks for real-time availability. The difference between BookToEat.ph and most other restaurant reservation services that we are genuinely â€Å"real-time† so no more busy signals, waiting until the restaurant opens or waiting hours for an e-mail response. BookToEat.ph now allows you to book your favourite restaurants on online in real-time just like booking in a hotel or an airline. The soon introduction of real-time bookings into Philippines presents a significant development for the restaurant industry. The concept has been hugely successful in the USA and UK markets, and in 2008 over 36 million bookings were made online in real-time. Related studies The application of modern information technology dominated so far by the use of internet websites and online reservation systems, gives competitive advance to other with same establishment. However the potential competitive advantage can be transformed into real advantage if only the websites have proper design. As a result, the advocator conducted research on the facts related to the system that might be helpful to its development. Foreign StormSource (2002).An online reservation system has booked over 50 million appointments and reservations since its launch in 2002. Over 4,000 businesses throughout the United States, Canada and 10 other countries rely on the software for such tasks as online reservation system of customer services, booking rooms, facilities and equipment, accepting online payments, sending reminders, and e-marketing. Scottsdale, Ariz.-based technology firm specializing in the development of online appointment software for a wide variety of applications and industries. Geared primarily toward small businesses such as doctors’ offices, spas, health clubs and massage therapists, users of Appointment-Plus also include Fortune 500 companies; colleges and universities; healthcare agencies and facilities; federal and local government; and freight and delivery services. Scharl, Wà ¶ber and Bauer (2003).Evaluate the effectiveness of hotel websites. Authors identify personal, system and media factors that contribute to hotel website adoption. In the system factors group, that is more controllable by the hotel management compared to personal and media factors, they identify the perceived utility of the product, speed of the system, intelligence, layout, services, navigation, interactivity, reliability of the system. Michael Pearce (2012). The online program at ksoutdoors.com – click on â€Å"reservations† – is part of the Reserve America system, which is used by about 20 states and 30 private groups to help customers reserve camping spots. Reservations for Kansas parks also can be made by calling 620-672-5911. The new system gets money into state park coffers quicker, and also saves time that the state park staff would have spent handling the money. Those are huge benefits for the department, which is constantly battling budget and staffing issues. Lanterman said it also allows the department to better study the demographics of its users. Adjustments can  then be made to make sure the public is best served. Wilson State Park is getting the most online reservations; Cheney and El Dorado State Parks are about tied for second place. Lanterman said usually no more than about half of the camping spots can be reserved online. The rest are first-come, first-served, as they have been for years. She said a few campers have been frustrated to arrive at a park and see their favourite site empty but reserved by another camper. Park managers, though, say support for the reservation system is strong and growing. â€Å"People like that they can go online, reserve the site they want, and when they show up it’s ready,† said Ryan Stucky, Cheney State Park manager. â€Å"Most are figuring out the system and that it’s more convenient for them.† Local Studies â€Å"An online inquiry and reservation system with virtual tour for La Maja Rica Hotel and Restaurant Tarlac City† a thesis conducted by Duenias, Kathleen Joy J., Ilagan, Keneth D. and Tolenceda, Niccolo Andrei P. AMA Computer College Tarlac City (March 2010), allows management for their hotel and restaurant to be more organized in terms of reservation, inquiry and customer avail of the available services and inquire for the details even without personal appearances which they can spare time, money and efforts. The Thesis entitled â€Å"Online Cagayan Valley Economic Zone Authority Information System† by Anwar Saludsong (April 2002), discuss the advantage of web-based application to allow user acquire information through online that is accessible through any internet. â€Å"Luisita Gold And Country Club Online Reservation† a Study conducted by Rina Lyn C. Burgos and Rowena S. Cortez at AMA Computer College Tarlac City (Aug 2005) discuss the capabilities of the internet and modern application to update users about the advantage and reliability of features of an online reservation system.A real-time reservation that completely automates the reservation process and reduce the effort and the time consume of customer. Theoretical Framework The proponents proposed system is a program that has a set of elements that work together to understand some objective that will help the Baque- Manalang Dental Clinic with regards to their manual reservation. One of the problems in most clinics nowadays is how to accommodate and serve  as many patients as possible, where patients do not need to go to the clinic for appointment scheduling. An online reservation system is generally the best option for these service-providers to automate and improve their booking processes. Not only that, this will also avoid patients not to experience a longer waiting time. Online reservations also assure the availability of schedule as these are shown online and security of information is provided. The literature has its similarity to the proponents propose system in the sense of both project utilize the internet function such as the availability of date and time which is one of the features that the proponents included in the study. The proponents are looking forward that the propose system will improve the manual reservation of the Baque- Manalang Dental Clinic. Conceptual Framework Below is the research paradigm which states the input data that will process to produce an output. Research, works, books, interviews, publication, net-surfing and studies are the researches mean gathering and compiling information and data that can help in the investigation improvement and development of the system

English Coursework †Crucible Essay

The Crucible’ is a play, based on a true event in American history. Written by Arthur Miller in 1953, The Crucible was set in the small Puritan village called Salem, Massachusetts in 1692. This town can be seen to be extremely oppressive, and a place in which people had no freedom or individuality.  Miller wrote the play during the period in which McCarthy’s anti-Communist campaign was at its height. Miller saw many parallels between this period and the ‘witch hunts’ in Salem, for example unsupported accusations, fear of individual difference, and people being encouraged to inform on their friends. Senator Joe McCarthy organized a twentieth-century version of ‘witch-hunting’. In the early 1950’s he exploited the US fears about Communism and managed to create a national campaign against Communists. As chairman of the House Un-American Activities Committee, McCarthy interrogated many witnesses and tried to make them inform on their friends. Anyone suspected of communist views was arrested for taking part in ‘Un-American Activities’. Between 1950 and 1954 McCarthy investigated and accused a wide range of famous people such as Walt Disney, John Lennon, and Marilyn Monroe. Even Miller was investigated as many of his plays were seen as an attack on capitalism. This was very similar to what happened in Salem in the 17th century. Salem can be seen as a corrupted society in which people were trapped by the strict rules of Puritanism. The accusations of witchcraft and dealing with the Devil in Salem were all started off by a group of girls who were caught chanting, dancing and conjuring spirits in the woods. Dancing and partying was forbidden at this time, due to the strict puritan rules. The forest was thought to be where the Devil ‘carried out his work’, which led people to believe that the girls were witches. This was a prime example of when people’s longing for individuality and or spiritual freedom was undermined by the rules within society. This can be compared to the anti-communists during the McCarthy years, in which people’s political freedom was undermined. Also in both situations the allegations lead to hysteria.  However, many people may argue that Salem is like any other society, even today, full of good and bad people, the exploited and the exploiters. The plot in the Crucible starts after the girls were found dancing and conjuring spirits in the woods, and there were already suspicions of witchcraft. After being accused of witchcraft the girls begin to accuse other people in the town in order to deflect the attention away from themselves. The court believes these accusations made by the girls, and many are named as witches, and are sentenced to death. This then leads to many hangings of innocent individuals, who would rather die than commit the sin of lying and having their names tarnished. John Proctor and Abigail Williams are two central characters in the play. Their secretive affair results in Abigail conjuring spirits, as she was obsessed with rekindling their relationship. However John rejected her, which led to her becoming even more desperate to be with him. Her desperate act led to a catalogue of events, resulting in the death of many innocent people. John is one of those suspected of witchcraft. When given the opportunity to confess, he does so. However after signing the confession, John suddenly changes his mind. He takes back his confessions as he realises that he could not live with a name associated with witchcraft, and would therefore rather die. This can be linked to the themes of integrity and courage. Both of these themes are explored throughout the play through many different characters. Another central theme within the play is envy, which is mainly shown through the character of Abigail Williams. Tyranny, purification, justice and bigotry are also key themes in the Crucible as they all contribute to the oppressive society in which the play is set. They also show how people at the time felt a deep religious need to cleanse the town of any association with the devil. This was due to fear and intolerance of any cultural or religious difference or spiritual freedom. All of the themes explored are linked to the individual as well as the society.

Free Essays on Useless Facts

â€Å"Any Class, Any Day, Any Subject† As I looked into my classroom I saw â€Å"mindless students in perfect rows bombarded by useless facts.† As usual I was late because I needed books for the next class, but there was not enough time to get to my locker. (Compound Complex) I walk in to class and my teacher just gives me a nasty look because we have had this conversation why I am always late. Once I get seated my teacher continues his lecture in a monotone voice that is asking you to go to sleep. (Complex) Next, the clock watching starts, this famous ritual consists of looking at your teacher, yet you don’t really hear what they are saying. Then you start watching the every clock every five minutes, or that is what it seems until look and see the little red hand had not made a single one of it’s sacred revolutions. After twenty minutes of rambling and repeating himself the teacher gives us an asignment that will probably teach us very little and is do at the end of the period. It takes me about five minutes to complete the assignment. After putting my head down in my book for another five minutes I find my self bored enough to play my prehistoric video games on my calculator. Immediately after pulling my calculator out, my friend who is suffering from the same boredom begs me if he can play some games. I really don’t want to, but he is my partner in Spanish and my only chance at a â€Å"C† so I give it to him. There are ten minutes left this is the longest ten minutes of the period because the only thing you have to do is watch the clock. Every second feels like five. It seems as though you can hear the second hand moving. With five minutes left everyone packs up and starts talking which makes time fly by. As the bell rings we turn in our work and go to our next class. Every classroom has a different characteristic. Most of that depends on the teacher but, some subjects can not be taught c... Free Essays on Useless Facts Free Essays on Useless Facts â€Å"Any Class, Any Day, Any Subject† As I looked into my classroom I saw â€Å"mindless students in perfect rows bombarded by useless facts.† As usual I was late because I needed books for the next class, but there was not enough time to get to my locker. (Compound Complex) I walk in to class and my teacher just gives me a nasty look because we have had this conversation why I am always late. Once I get seated my teacher continues his lecture in a monotone voice that is asking you to go to sleep. (Complex) Next, the clock watching starts, this famous ritual consists of looking at your teacher, yet you don’t really hear what they are saying. Then you start watching the every clock every five minutes, or that is what it seems until look and see the little red hand had not made a single one of it’s sacred revolutions. After twenty minutes of rambling and repeating himself the teacher gives us an asignment that will probably teach us very little and is do at the end of the period. It takes me about five minutes to complete the assignment. After putting my head down in my book for another five minutes I find my self bored enough to play my prehistoric video games on my calculator. Immediately after pulling my calculator out, my friend who is suffering from the same boredom begs me if he can play some games. I really don’t want to, but he is my partner in Spanish and my only chance at a â€Å"C† so I give it to him. There are ten minutes left this is the longest ten minutes of the period because the only thing you have to do is watch the clock. Every second feels like five. It seems as though you can hear the second hand moving. With five minutes left everyone packs up and starts talking which makes time fly by. As the bell rings we turn in our work and go to our next class. Every classroom has a different characteristic. Most of that depends on the teacher but, some subjects can not be taught c...

A Comparison Of Night Walker And Roselily Essays - Fiction

A Comparison Of Night Walker And Roselily Essays - Fiction A Comparison of Night Walker and Roselily Brent Staples' Night Walker and Alice Walker's Roselily both present a glimpse into the world view of African-American culture through human characters set in ironic situations. The tone of Roselily is one of sardonic condemnation, whereas the tone of Night Walker is one of melancholy and anger in the face of alienation. Both deal with victimization, Night Walker's being derived from being mistaken for a criminal, and Roselily's dealing with the confines of a traditional marriage and the anxieties which result. Walker and Staples' stories hold an unusual irony as the perceived innocent are victims, and the perceived aggressors are the persecuted. Walker makes use of many descriptive images from the young woman who begins, "...dragging herself across the world."(P 335) to the "...crush of well-wishing people..." Each paragraph is anchored to the marriage by a preceding verse from a traditional marriage ceremony. Staples' descriptive images, though more contemporary in time, rely upon heavy contrast to sharply underscore his points. For instance describing, "...a relatively affluent neighborhood in an otherwise mean, impoverished section of Chicago." Morgan Glines English AP April 12, 1997

Biography of Fernand Leger, Forerunner of Pop Art

Biography of Fernand Leger, Forerunner of Pop Art Fernand Legà ©r, born Joseph Fernand Henri Là ©ger (February 4, 1881 – August 17, 1955), was a French artist, specializing in paintings, sculpture, and film. His innovative variants on cubism and figurative art led to him being regarded as a forerunner of the pop art movement. Fast Facts: Fernand Là ©ger Full Name: Joseph  Fernand  Henri  Là ©gerOccupation: Painter, sculptor, filmmakerBorn: February 4, 1881 in  Argentan, FranceDied: August 17, 1955 in  Gif-sur-Yvette, FranceSpouses: Jeanne-Augustine Lohy (m. 1919-1950), Nadia Khodossevitch  (m. 1952-1955)Key Accomplishments: Influenced by the industrial age and the two world wars, Fernand Leger developed a unique artistic outlook that preceded the developments and concerns of Pop Art. Early Life Fernand Legà ©r was born in Argentan, in the Normandy (then Lower Normandy) region of France. His father was a cattle farmer. Little is known about his early life until he began his schooling and professional career. Initially, Legà ©r did not train in the arts. At the age of sixteen, he began training as an architect. He finished his formal architectural training in 1899, and the following year, he moved to Paris. For about a year or two, he worked as an architectural draftsman, but in 1902, he shifted into the military. Legà ©r spent 1902 and 1903 in military service, based out of the city of Versailles. French expatriate artist Fernand Leger standing in front of his completed murals. John Gutmann / Getty Images After his military service ended, Legà ©r attempted to get more formal art training. He applied to the École des Beaux-Arts but was rejected. Instead, he enrolled at the School of Decorative Arts. Ultimately, he attended the École des Beaux-Arts in a non-enrolled capacity for three years while also studying at the Acadà ©mie Julian. It was not until the age of 25 that Legà ©r began working as an artist in earnest. In those early days, his work was in the mold of the impressionists; later in his life, he destroyed many of these early paintings. Developing His Art In 1909, Legà ©r moved to Montparnasse, an area of Paris known for being home to a wide array of creative artists, many of whom lived in poverty in order to pursue their art. While there, he met several other artists of the era. In 1910, he had his first exhibition, with his art displayed at the Salon dAutomne in the same room as that of Jean Metzinger and Henri Le Fauconnie. His most important painting at the time was Nudes in the Forest, which displayed his particular variation on cubism, dubbed â€Å"tubism† by art critic Louis Vauxcelles for its emphasis on cylindrical shapes. Sothebys employees pose for photographers with Fernand Legers Cubist masterpiece Etude pour La Femme Bleu, on April 21, 2008 in London, England. Cate Gillon / Getty Images Cubism was a relatively new movement at the time, and in 1911, Legà ©r was part of a group that displayed the development to the general public for the first time. The Salon des Indà ©pendants displayed together the work by painters identified as cubists: Jean Metzinger, Albert Gleizes, Henri Le Fauconnier, Robert Delaunay, and Fernand Là ©ger. In 1912, Legà ©r again exhibited work with the Indà ©pendants and was part of a group of artists dubbed the â€Å"Section d’Or†- the â€Å"Gold Section.† His works of this era mostly were in palettes of primary colors or green, black, and white. After the Great War Like many of his countrymen, Fernand Legà ©r served in World War I, then called the â€Å"Great War.† In 1914, he joined the army, and he spent the next two years serving at the Argonne. Although he was far from the studios and salons of Paris, he continued to make art. During his service, Legà ©r sketched the instruments of war that he was surrounded by, along with some of his fellow soldiers. He nearly died from a mustard gas attack in 1916, and during his recovery, he painted The Card Players, full of frightening, mechanized figures that reflected his horror of what he had seen in the war. His experiences in the war, which was the first massive war of the industrialized era, significantly influenced the next several years of his work. Referred to as his â€Å"mechanical† period, his work from the postwar years through the 1920s featured sleek, mechanical-looking shapes. As the world attempted to return to normalcy following the war, Legà ©r made similar attempts, returning to â€Å"normal† subject matter: mothers and children, landscapes, female figure drawings, etc. However, his works continued to have that mechanical, orderly look to them. Fernand Legers Builders with Aloe, is seen at the Post-War European Art Exhibition at Pushkin Museum, in Moscow, Russia, March 6, 2017.   Mikhail Svetlov / Getty Images It was during this time that Legà ©r also got married. In December 1919, he wed Jeanne-Augustine Lohy. The couple did not have any children over the course of their three-decade marriage. In many ways, his work fell under the umbrella of purism, an answer to cubism that focused on mathematical proportions and rationality, rather than intense emotions and impulses. Legà ©r also was fascinated by the dawn of filmmaking, and for a time, he even considered abandoning his visual art to pursue cinema. In 1924, he produced and directed the film Ballet Mà ©canique, a Dadaist art film consisting of images of women’s facial features, everyday activities, and ordinary objects. He also experimented with murals, which became the most abstract of his paintings. Later Career By the end of the 1920s, Fernand Legà ©r’s work had begun to evolve. Instead of sleek, cylindrical forms that evoked the machinery of industry and war alike, more organic influences- and irregular, lively shapes- took center stage. His figures took on more color and even some humor and playfulness. He began teaching more, starting a free school in 1924 along with Alexandra Exter and Marie Laurencin. Painter Fernand Leger sits among his works in his Left Bank studio in 1948, following a trip to New York.   Bettmann  /  Contributor In the 1930s, Legà ©r made his first trips to the United States, traveling to the major hubs of New York City and Chicago. His artwork was displayed for the first time in America in 1935 with an exhibition at New York’s Museum of Modern Art. A few years later, he was commissioned by American politician Nelson Rockefeller to decorate his personal apartment. During World War II, Legà ©r lived and worked in America, teaching at Yale University. His work from this era often juxtaposed organic or natural elements with industrial or mechanical imagery. He also found new inspiration for brightly colored paintings in the neon lights of New York, resulting in paintings that included bright stripes of color and starkly outlined figures. Legà ©r returned to France in 1945, after the war ended. There, he joined the Communist Party, although he was more of a humanist with socialist beliefs rather than a fervent, devoted Marxist. During this time, his paintings took a turn to depict more scenes of everyday life featuring the â€Å"common folk.† His work also became less abstract, emphasizing his stronger focus on ordinary people rather than the avant-garde world. French painter Fernand Leger straddeling a chair in front of an incomplete painting, holding paintbrushes, wearing a flannel plaid shirt and a striped tie, Venice 1950. Archivio Cameraphoto Epoche / Getty Images In 1950, his wife Jeanne-Augustine died, and he remarried in 1952 to French artist Nadia Khodassevitch. Legà ©r spent the next few years teaching in Switzerland and working on a variety of projects including stained glass windows, sculptures, mosaics, paintings, and even set and costume design. His final, unfinished project was a mosaic for the So Paulo Opera. Fernand Legà ©r died on August 17, 1955 at his home in France. As the first artist to focus on the industrial and machine age, creating images that reflected modern consumer society, he is considered a forerunner of pop art. Sources Buck, Robert T. et al.  Fernand Là ©ger. New York: Abbeville Publishers, 1982.â€Å"Fernand Là ©ger.† Guggenheim, https://www.guggenheim.org/artwork/artist/fernand-leger.Nà ©ret, Gilles. F. Là ©ger. New York: BDD Illustrated Books, 1993.

Usefulness of Accounting Theory to Practicing Accountants Today Research Proposal

Usefulness of Accounting Theory to Practicing Accountants Today - Research Proposal Example Throughout history, the need for a single and unified conceptual framework which will embody the needs of the business organization for financial reporting has been a pressing concern. The lack of established accounting theory to support the reporting of financial transactions and the production of financial reports called for the foundation of financial reporting. Without accounting theory, accountants grapple with the difficulty of producing reports which will clearly represent the company’s performance. Comparison and benchmarking cannot be accomplished since reporting is not supported by the same foundation. The need for a conceptual framework is even highlighted by the era of globalization which aims the creation of a single global village. However, it should also be noted that the usefulness of accounting theory is limited by the adherence of accountants which utilizes it. The financial fiascos that shook the global community highlight the need for a more stringent contr ol and adherence to the reporting process in order to produce financial reports which fully embodies the financial position of a business organization. In the early 1800s, accounting theories were random and ill-defined. Development was unstructured and the formalization of existing practices was still in the very preliminary stages. Scientific development was also quite ad hoc and inconsistent, yet 42 bulletins were already developed before 1970. These facts help magnify the importance of having a united adaptable system for the accounting profession to work consistently. The normative period began to emerge in 1956 and developed until 1970. This stage allowed the development of a set of norms for accounting practices and the commencement of the conceptual framework for accounting. It was divided into two dominant groups—the conceptual framework and the critics of historical cost. As the normative era was not being successfully accepted by the community the period ended as financial theories, and computer databases led to empirical research.

SHOULD ETHANOL BE REQUIRED IN GASOLINE Research Paper - 2

SHOULD ETHANOL BE REQUIRED IN GASOLINE - Research Paper Example However, many others argue that ethanol is neither economical nor environmental friendly and it cannot cater the energy needs of America even if the whole lands in America are cultivated with ethanol producing plants. This paper tries to find answers to the question; SHOULD ETHANOL BE REQUIRED IN GASOLINE? Korzeniewski, (2009) argued that ethanol is cheap compared to gasoline and it helps mixers generate higher octane ratings (Korzeniewski, 2009). Oil prices are growing day by day and more over, the oil sources are exhausting every day. Some experts pointed out that the available oil sources may last for only 30-40 years more if the consumptions continue at the present rate. Under such circumstances, it is necessary for us to find an alternate energy source and many people believe that biofuel may replace oil fuels in future. However, Taylor and Van Doren, (2007) have questioned above argument. In their opinion, the perception about ethanol as an economical fuel is only a myth. They have quoted a 2005 report issued by the Agriculture Department, and argued that corn ethanol costs an average of $2.53 to produce, or several times what it costs to produce a gallon of gasoline (Taylor and Van Doren, 2007). In other words, ethanol use cannot be encouraged in America without giving subsidie s. It is difficult for the government to spend huge amounts as subsidies for encouraging ethanol use, especially in the present economic crisis situations. Another major question raised by the critics of ethanol is the feasibility of ethanol fuel in old cars. These people argued that ethanol may create major problems in old car engines and the engine could be damaged if ethanol fuels used for a prolonged period. In their opinion, new engines and new cars compatible with ethanol is required to encourage the ethanol use in America. Korzeniewski, (2009) has pointed out that â€Å"todays cars and trucks are all fully

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Animal Eyes - Essay Example When light passes through the retina, it captures some while the rest passes proceeds to the Tapetum Licidum (Winifred & Krause 16). The mirror like layer of cells sequentially reflects light back to the retina (Winifred & Krause 16). This ricocheting of light is what gives off the green like flash in the animal’s eye at night (Winifred & Krause 16). Reflected light in the retina facilitates concentration of light, which enhances visualization. This process gives the animal greater and higher vision besides enabling them to hunt or scavenge their prey at night. Conversely, the â€Å"red eye† color characterizes animals that do not have Tapetum Licidum (Pendergrast 23). Therefore, this implies their eyes are not ready for the sudden entry of light except during incidences characterized by much light, which then penetrates into the eye, for instance, photographing. The â€Å"red eye† glow appears when thick light passes through the pupil of the eye and bounces off the red organs and blood capillaries in the eye. The amount of melanin in the eye can also cause â€Å"red eye† effect. People with high melanin level in the eye tend to absorb higher light intensity. Therefore, little light reflects on the red blood capillaries and body tissues leading to the absence of the â€Å"red eye† effect. Presently, numerous cameras have an installed feature meant to reduce â€Å"red eye† effect that works when flash goes off twice. The first flash makes eye pupils contract, hence making them smaller. The second flash, which is the actual one for taking pictures, finds the pupils smaller and reflects light on fewer blood vessels. This strategy reduces the â€Å"red eye† effect while taking a

Blood Assignment Example | Topics and Well Written Essays - 500 words

Blood - Assignment Example He also proved that some people’s red blood cells agglutinated. Landsteiner also came up with 3 new ways of thinking and identified existence 3 kinds of cells A, B, as well as C (Daniels, 2013). Thus, the determinant gene of ABO blood type for instance is found on chromosome 9 and is referred to as glycosyltransferase .In addition, the ABO locus is made of 3 key allelic kinds: A, B and O as discussed above and every one of them was responsible for the production of its glycoprotein better known as antigens which are always found in the blood cells of an individual and thus their ABO blood group. Therefore the A as well as B blood types are due to various antigens (they provoke immune responses) on the red blood cells’ surface. The production of antigens is usually under the DNA. Thus antigens emanate from a red blood cell surface precursor known as H substance-common to A,B as well as O. Placement of N-acetylgalactosesamine results in type A enzyme which is transferase on the H kind of substance. The attachment of galactose to H by group B transferase resulted in the formation of group B (Daniels, 2013). On the other hand, type O comes about from a basic joint mutation that adversely destroyed or reduced the potential of Type A transferase to attach the mandatory N-acetylgalactosesamine to H substance. As studies have shown on monkeys, human blood types are very archaic genetic indicators which have been evolving for several million years ago. On the basis of primary races thesis hypothesis. In addition, it has always been held that the 3 main races of man, Europe blood group A, Asian blood type B and eventually blood group O in South America. These 3 groups have been emerging gradually because of the mixing and migration of the races leading to the current situation (Daniels, 2013). Another postulation about the origin of blood types is that emergence of every blood group A and b as well as their subgroups was as a result of successive

British Airways Assignment Example | Topics and Well Written Essays - 1250 words

British Airways - Assignment Example British Airways is the largest airline in the United Kingdom. It has been the leader in innovations. Summerfield (2005) reports an innovative way that the airline allows its staff to be involved in the decision making process, â€Å"†¦British Airways’ learning division has used to promote organizational values is its ‘Owning Our Future’ program. We live in a modern society that is extremely dynamic especially due to technology. With the addition of the Internet and technology, the demands and challenges of the corporate world requires companies to develop product/process innovations and new production/technological developments. This is crucial in meeting the ever-changing demands of consumers. British Airways must also use innovative products and processes in order to deal with the negative aspects of business. An increase in income, quality of life, social factors, and mobility has increased the number of air passengers. Easier bookings and reservations, d iscounted pricing, and convenience are advantages that have been provided to consumers via technology and the Internet. With these advantages also come disadvantages in the current global marketplace. The cost of labour, maintenance, fuel, etc. also produces demands on British airways. The market is intensely competitive; hence, the airline must employ innovative tactics in order to manage the dynamic industry. It uses the Internet to sell tickets and to develop its marketing environment. British Airways also focused on their human resource and its relationship with employees. A psychological contract and reward system are two main targets. British Airways Waterside (1994-2002) reports that, "British Airways wanted to change the way they did business by introducing some new working practices. Among the things they set out to achieve were streamlined communications, minimizing paper and working more effectively as a team. In order to achieve these objectives a comprehensive educational program was designed. This British Airways 4 was initially

Blood Assignment Example | Topics and Well Written Essays - 500 words

Blood - Assignment Example He also proved that some people’s red blood cells agglutinated. Landsteiner also came up with 3 new ways of thinking and identified existence 3 kinds of cells A, B, as well as C (Daniels, 2013). Thus, the determinant gene of ABO blood type for instance is found on chromosome 9 and is referred to as glycosyltransferase .In addition, the ABO locus is made of 3 key allelic kinds: A, B and O as discussed above and every one of them was responsible for the production of its glycoprotein better known as antigens which are always found in the blood cells of an individual and thus their ABO blood group. Therefore the A as well as B blood types are due to various antigens (they provoke immune responses) on the red blood cells’ surface. The production of antigens is usually under the DNA. Thus antigens emanate from a red blood cell surface precursor known as H substance-common to A,B as well as O. Placement of N-acetylgalactosesamine results in type A enzyme which is transferase on the H kind of substance. The attachment of galactose to H by group B transferase resulted in the formation of group B (Daniels, 2013). On the other hand, type O comes about from a basic joint mutation that adversely destroyed or reduced the potential of Type A transferase to attach the mandatory N-acetylgalactosesamine to H substance. As studies have shown on monkeys, human blood types are very archaic genetic indicators which have been evolving for several million years ago. On the basis of primary races thesis hypothesis. In addition, it has always been held that the 3 main races of man, Europe blood group A, Asian blood type B and eventually blood group O in South America. These 3 groups have been emerging gradually because of the mixing and migration of the races leading to the current situation (Daniels, 2013). Another postulation about the origin of blood types is that emergence of every blood group A and b as well as their subgroups was as a result of successive

The State of the economy and how it is efecting the people Essay

The State of the economy and how it is efecting the people - Essay Example Downplaying the ideological conflicts is detrimental to the welfare of the people as well as the concept of ‘free enterprise’, because the need for a strong regulatory frame work is essential for a welfare state. This paper seeks to analyze the factors leading to the present state of economy, its impact on the people, conditions necessary for the revival of the economy and outlines the reform processes which have direct and positive effects on the people. These reforms should act as a strong catalytic force for the stimulation packages by the governments to be more effective in the long run, and are necessary for a sustainable development. Causes and factors leading to the present state of economy Savings & consumption While money saved is only meant for consumption ultimately, it is also the foundation for investment. Over the period of time, the people neglected the aspect of savings in life and its effects on economy have been largely ignored in the modern societies. Toba (148) states â€Å"Both the classics, and also J. M. Keynes, considered the individual saving as a primordial source of investments. The sacrificing of the present consumption was considered as the basis of the first stage of the investment process, respectively the savings stage. Nowadays, the main productive investments are constituted based on the credits which have been gotten from the banks†. Savings comes to the rescue of the people at the time of recession, and this culture in a society ensures uninterrupted consumption even at the time of recession, albeit at a lower level. In a study by Verma, R. & Wilson, E. J. (2005, p. 16-17) it was found that the per worker household and private corporate savings affecting GDP support the Solow growth model, whereby domestic private sector savings promote long run economic growth. The recession impacts the society severely when the people can’t fall back on savings which leads to sudden disruptions in the consumption. The cumulative effect of decrease in consumption or demand affects the business which leads to production cuts, consequently increased unemployment. The vicious cycle continues to the detriment of the welfare of the people and the state. Subprime crisis and Debt culture Borrowing is a part of the US culture which is deep rooted into the society in the case of individuals or business enterprises which is an important cause for the collapse of the economy. When it has become a rat race to entice the people to borrow, the banks and the financial institutions have developed a tendency to ignore the basic tenets of banking, principally to be more competitive in the business, increase the market share and profitability without realizing that the entire industry has been moving towards catastrophe, and the crisis is not restricted to the US. According to Bayne, N. (2008, p. 7) the collapse in September  2007  of Northern Rock in the UK was a bad shock for the Bank of England and blame s FSA’s weak supervision and lack of effective deposit protection scheme for the disaster. Actually, the situation has become like catching the tail of a tiger, without any possibility of backtracking in their policies. The collapse of the entire edifice could be caused by any flimsy trigger as the equilibrium in the economy has been very precarious.

Portfolio Analysis Essay Example for Free

Portfolio Analysis Essay ABSTRACT This paper discusses the portfolio analysis. The paper includes a brief discussion on the meaning of the portfolio and why it is important for an investor to consider portfolio. It   also explains how an investor would select a particular asset to be a part of his portfolio. The limitations and disadvantages of having a portfolio analysis is also discussed in the last paragraphs of the paper. An investor or entrepreneur must study where he or she must invest in. These assets are combined in order to maximize the return of investment of the investor and entrepreneur. The combination of these assets, according to Weston and Copeland (1992) can be called a portfolio. The aim of an investor is to maximize their investments. Weston and Copeland (1992) believe in applying the portfolio theory to optimize the selection of assets. Each portfolio has a certain degree of risk and advantages. The weighted average of the returns of the individual assets is done in order to compute for the rate of return of the portfolio. A risk of a portfolio is the combination of all assets. The risk of the portfolio is different from the asset if it is held in isolation. A particular asset can be considered as very risky if it is held in isolation. However, this may not be so if it is combined with the other assets. Rather, these assets may contribute largely to an optimal portfolio of the investor. The risk of a particular portfolio depends on the risk factors of the assets. Litterman and Winkemann (1996) had noted that investors select their portfolio depending on the benchmark or the standard that they had set. The benchmark depends on the selection of the investors. These can be a liability stream, performance index or cash return. Experts are trying to understand the risk of assets and portfolio. Littermann and Winkelmann (1996) had recommended the use of risk factors. One of the most important risk factors that the investors must looked out for is the market exposure of the portfolio. This makes the risk of portfolio very unpredictable that is why investors are expected to risk their assets when they are managing their portfolio and are deciding on where to put their money. The analysis of one’s portfolio is important in its management. Through the analysis of the portfolio an investor can estimate the return or the loss that a particular asset may contribute. Having been able to study the portfolio does not mean a total success because as stated above, investing is a risk and an investor decides based on uncertainty. There may be cases that an investor had chosen the wrong combination of assets that may result to losses. Every businesses are exposed to risk and the percentage of failing is not fixed. An investor may estimate that the percentage of success is 75% and the percentage of failure is 25%. However, this may not be the case. It could be the other way around. Failure percentage can be higher than that of the success depending on the events that may happen. Even though the investors have uncovered all the risk factors that is connected with the success of the investment, there could be other complications that can occur once the investment had already been decided.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Investing in stocks and bonds are also a part of the portfolio. There is no fixed amount of return concerning stocks. A particular company stock may be high now but because of matters in the economy or problems in the company it could go very low. The limitations of having the portfolio analysis is that the computation of the portfolio may now approach the benchmark of the investor however, there could be times that the portfolio of an investor changes because of the â€Å"risk factors†Ã‚   in the market. REFERENCES: Littermann R. and Winkelmann K. 1996.   Managing Market Exposure. Retrieved last February 20, 2008 from Goldman Sachs. Website: http://faculty.fuqua.duke.edu/~charvey/Teaching/IntesaBci_2001/GS_Managing_market_exposure.pdf Weston, J. and Copeland, T. 1992. Managerial Finance 9th edition. Dryden Press. United States ofAmerica.

Relationship between Foreign Direct Investment and Growth

Relationship between Foreign Direct Investment and Growth Chapter 1: INTRODUCTION This study will give us an opportunity to identify the determinants of FDI that develops economic growth, to understand the importance of foreign direct investment (FDI) in enhancing the economic growth in Malaysia, and also the relationship between (FDI) and the economic growth in Malaysia. In this chapter of study, the main focus will be on research background, research objectives, research questions and also the significant of study. Research Background 1.1.1 The Trend of Foreign Direct Investment (FDI) Flow in Malaysia The relationship between the growths of FDI with countries has been a debatable issue for several decades. This has become an eye opener which agreed by (Karimi, Sharift and Yusop, 2009, p.2) which drive policymakers to engage in incentives such as export processing zone and tax incentive in order to attract FDI. However, the determinant of FDI in each country is different and failure to understand how a specific country can attract FDI will bring difficulties to changes in economy. In the case of Malaysia, in 2007 the economy was ranked at 29th largest economy in the world with gross domestic products that worth to be $357.9billion (World Bank, 2007). Despite the impact of many externalities such as, oil crises in 1970s, to downturn in electronic industry in 1980s, and majorly impact the Asian financial crisis in 1997s. According to (Ministry of Finance, 2006) the growth of economy in Malaysia was consistent from 1988 to 1996 and maintain the economic annual growth of 7-10% per annu m, by the year 2005 the main source of growth was the manufacturing sector whose share of GDP increase to 31.4 percent. The key driver for the ongoing performance of Malaysias economy is the result of policy reform which is a determinant Foreign Direct Investment (FDI) which enhances the economic growth of Malaysia. The evidence here can be seen by (Ministry of Finance, 2001) introducing the Investment Incentives Act 1968, free trade zones in early 1970s, and export incentives with open policy in 1980s has led to an establishment of FDI in the 1980s. One good example to show that the government has use policy as a determinant of FDI would be, The Promotion of Investment Act (PIA) 1986 which gave a larger percentage of foreign equity ownership in order to attract FDI to enhance economy of Malaysia. This graph illustrates the FDI inflow from 1970-2004 in Malaysia. This research shown that (Har, Teo and Yee, 2008, p.12) FDI stock in Malaysia grew tremendously from 1970s to 1990s, despite fluctuation between the years, and the growth of FDI has been promising from $94 million dollars in 1970s to $2.6 billion by 1990s. Unfortunately, in the early 1990s, the rate of FDI inflow has decrease because of the slowdown investment in Malaysia by two main sources of investors which is Japan and Taiwan. As of 1996, the FDI rate (Har, Teo and Yee, 2008, p.12) has reach its peak when Malaysia successfully accumulated $7.3 billion dollar, by the end of 1998. There has been a major reduction in FDI inflow due to the financial crisis in 1997 that affected many Southeast Asia countries. Unfortunately, by the early 2000s the inflow of FDI in Malaysia has been unpredictable and inconsistent, but still manages to generate average inflow of $3billion per year. In 2007, Malaysias inward (FDI) performance index has reduce compared to the inward (FDI) potential index which shows that Malaysia lack the capability to attract foreign investors in this recent years as seen in table1, and the key factors is because neighboring countries such as China, and India has much more attractive offers such as lower labor cost that make their business more efficient. Since the inflow FDI has been decreasing, Malaysia was ranked 71 in 2007. The table above explains that inward FDI inflow in Malaysia were only US $ 8,043 million and it was only 2.6% of total inflow of FDI to Asia and by that time China has possesses the share of as much as 26.05%.(World Investment Report, 2008) The conclusion can be made here is that Malaysias reduction inflow of FDI is mainly because their incentive are becoming less competitive compared to other countries in Asia. Problem Statement FDI is strongly recommended to achieve consistent economic growth and resulting in modernisation in industrialisation and raise the living standards of the society. There are many determinants regarding FDI and based incentive policy is one of them. Research shows that (Lam and Liew, 2009, p.435) 2 main assumption of this incentive are that high monetary incentive allows FDI to be attracted easier and high inflow of FDI might lead to higher economic growth. Unfortunately, incentive is not necessary monetary-based like tax exemption but can be a long term relationship that seeks for mutual benefits of both sides. The evidence can be seen that the total inflow of FDI into the region of South East Asia, East Asia and South Asia has increased by 15% to USD 165million in 2005 but for Malaysia despite the fact that many monetary based incentives is provided, Malaysia still experiencing a decrease in foreign direct investment. (Tomlinson, Abdullah, Kolesnikov and Jessop, 2006) In 1990, Mala ysia was ranked 4th in the world for FDI, but was ranked 62th in 2005 and recorded negative inflow of net foreign direct investment in the year 2007 More attention should be given by government, researchers and policy makers to identify the problem and produce the solution that can stimulate the FDI in Malaysia. Much research has been done to stimulate FDI, but a lot lesser research has been carried out considering international relations because mostly focus on microeconomic aspect of domestic firm performance. It is very important for foreign investors to gain confidence to invest in Malaysia, hence enhance the economic growth in Malaysia. More research should be done to determinant other determinants of FDI in order to develop the performance of economy in Malaysia. It is very important for more research to be done on FDI with international relation in order to identify the determinants of FDI that can stimulate the economic growth of Malaysia and not on incentive that only focuses on profit maximization of one sided benefits. Research Objectives The objective of carrying out this study is as below: To review the determinants of FDI that is affecting economic growth in Malaysia To analyze the relationship between FDI and economic growth in Malaysia. To evaluate some policy actions related to increase the inflow of FDI in Malaysia. Research Questions This study is conducted to address the following research questions: Do the determinants of FDI inflow affect the economic growth in Malaysia? Will relationship with FDI result in bloom of economic growth in Malaysia? How policy actions can increase the inflow of FDI in Malaysia? Chapter 2 : LITERATURE REVIEW 2.0 Introduction In this section, a review of literature will provide us with a better understanding of the determinant of FDI and the growth of economic in Malaysia. This chapter focuses on the empirical studies on the role of FDI in the economic growth of host countries. Furthermore, a conceptual framework of these variables will be provided. 2.1 Review of Literature 2.1.1 Foreign Direct Investment (FDI) Foreign Direct Investment (FDI) has associate with many leading roles in development of host countries such as source of capital, new job opportunities, diffusion of new technology into country, and develop overall economic growth of host countries. Empirical studies have been carried out to show the relationship between FDI and economic growth while others focuses more on the causality of these two variables. Different methods are use by research to find out the determinants of FDI and the relationship it has with economic growth of host countries. By using cross-section data and OLS regression, Balasubramanyam (1996) found out that host countries that impose export promoting strategy produce positive growth of FDI on the economic growth but this does not apply to host countries as imposes import substitution strategy. Cross-sectional data has also conclude that high level of institutional capability which measured by degree of property right protection and bureaucratic efficiency in host country leads to a positive effect of FDI which enhances the economic growth of host countries. (Olofsdotter, 1998) In the work of Borensztein, et al. (1998), they utilize the cross country regression framework to analyse the effect of FDI on economic growth. They use the FDI flows data from industrial countries to 69 developing countries for the past two decades. Their research provided essential information that shown FDI plays an important role in diffusing new technology in host countries, and relatively boost overall economic growth rather than domestic investment. According to another research on (Borensztein et, al.1998) developing economies which focuses on the diffusion process of technology and economic growth, they found out that the positive impact of FDI on economic growth is highly dependent on the availability of human capital in the specific host country. De Mello (1999) uses both time series and panel data fixed effects for a sample of 32 developed and developing countries to study the relationship of FDI and economic growth. However, he only found out little result showing positi ve effect of FDI that affects the economic growth of host country. There are also other research that focuses on the causality between FDI and economic growth. Zhang (2001) and Choe (2003) use co integration and Granger causality test for a sample of 11 developing countries in East Asia and Latin America. Zhang (2001) found out that 5 cases that shows enhancement of economic growth but the condition of host country is important, so factors such as macro stability and trade regime must be attractive to attract FDI in host countries. Through the research of Choe (2003), the finding of casuality between FDI and economic growth shows that FDI is dependent on the economic growth of host country and not the other way around. Little evidence was shown that FDI enhance the growth of economy, but mainly supports that rapid economic growth enhances the FDI inflow into the country. Chowdhury and Mavrotas (2003) use innovative econometric methodology to identify the causality of FDI and economic growth. The research was done using time series data from 1969 to 2000 for three developing countries that are Malaysia, Chile and Thailand. Each country involve with different background of determinants of FDI such as macroeconomic episodes, growth patterns, and policy regimes. Their study found out that GDP was the cause of growth of FDI in Chile, but it does not go the same with Malaysia and Thailand which has strong evidence of bi-directional causality of these two variables. In the case of Frimpong and Abayie (2006), In the research (Bengoa and Sanchez-Robles, 2003) by using panel data to study Latin America between the relationship of FDI and economic growth, they found out there is a positive impact of FDI that lead to increase in economic growth but the research is similar to Borensztein, et.al, (1998) that says economic development depend on the countrys stability condition. Finally, Duasa (2007) which focus on the causality between FDI and output of economic growth in Malaysia and the study found no evidence of relationship between FDI and economic growth. These has indicate that in the case of Malaysia, FDI does not cause economic growth but FDI contributes to stability of growth as growth contributes to stability of FDI. In order to understand the determinants of FDI more accurately, we can see through research done by Vernon (1966) by using product cycle hypothesis which relates to trade theory by Hufbauer (1966). The theory is about the relationship between investment theory and trade theory by using products as they are export or invested. They found out that competition prices in host countries drives foreign investors to seek cost advantages especially labour cost. This shows that innovation of countries to attract FDI is important to improve economic growth. 2.1.2 Economic growth in Malaysia Export growth can be considered as the most researched determinant factor of (FDI) in economic growth. According to Chow (1987, p.124), the export growth of development countries can be identified through the impact of increase in countrys income, non-export production of goods, resource allocation, and capital efficiency, ability in handling external shocks, negative external effects and also total productivity factor. Therefore, research has shown export strategy has been an effective factor in enhancing the economic growth of developing countries. Furthermore, these countries have also testified that export promotion is an effective development strategy (Jung and Marshall, 1985). However, export strategy is not the main determinant factor of FDI that promotes economic growth. According to Ahmand and Harnhirun (1996) research, by using time data series from 1966 until 1988 to determine whether export is the main (FDI) factor that affects countries economic growth on industrial countries like Malaysia, Philipines, Singapore and Thailand, they found out that economic growth and export is dependent on development of countrys policy, and also economic development causes export growth not the other way around. In order to (Alfano et.al, 2004) identify the relationship between FDI, financial market, economic growth and also to find out whether countries with better financial systems are able to exploit FDI effectively. An empirical analysis was done by using cross country data from 1975 to 1995 which concluded that FDI played a leading role in contributing to economic growth in 71 countries which means countries with good financial market are able to take advantage of opportunity offered by FDI. Li and Liu (2005) studied whether FDI affect economic growth by using single and simultaneous system of equation techniques to test these two variables. Their research found a significant relationship between FDI and economic growth which identified, Human capital has indirect interaction with FDI that leads to positive impact on economic growth in developing countries, whereas countries with insufficient technology knowledge will have significant negative impact on economic growth in developing countries Another study done by Hsiao and Hsiao (2006) using panel data and time series from 1986 to 2004 to identify Granger causality between GDP, export and FDI among China, Korea, Taiwan, Hong Kong, Singapore, Malaysia, Philippines and Thailand found out that FDI has direct one way effect on GDP and indirect effect through export. There was also bilateral causal relationship between export and GDP. Lastly, study done by Baharumshah and Thanoon (2006) using quantitative assessment found out that FDI effects economic growth both long-term and short term in the host countries. Their research has also shown that countries that are able to attract inflow of FDI successfully can generate more investment which leads to faster overall development of economy, hence FDI is a major contributing factor in the economy of East Asian countries. Ang (2007) use annual time series data from 1960 to 2005 in order to find out the determinants of FDI in Malaysia found out that GDP growth had a significant positive impact on FDI inflow. 2.2 Theoretical Framework Foreign direct investment (FDI) Independent variable Dependent variable Technology advancement Economic growth in Malaysia Human Capital Policy development Social GDP 2.2.1 Analysis path This framework is to understand the research of the two variables in the case of my research proposal, foreign direct investment (FDI) is the independent variable and economic growth in Malaysia would be the dependent variable. The purpose of this research proposal is to understand the relationship of FDI and economic growth in Malaysia. In addition, Malaysia can implement different FDI contributing factor that can enhance economic growth in the country. The analysis here is about the determinants of FDI and it interests me in which Malaysia can implement and make FDI more attractive to be invested by foreign firms. In this analysis, the information accumulated should provide the key determinants of FDI at the same time enhance the development of economic growth in Malaysia. Chapter 3: METHODOLOGY 3.0 Introduction This section describes the research methodology use in the study to access the relationship between FDI and economic growth in Malaysia. Simple ordinary least square (OLS) regression and the empirical analysis are done using annual data of FDI and economic growth in Malaysia over the 1970-2005 periods. The research was done using annual data from IMF international Financial Statistic tables, published by International Monetary Fund to find out the relationship between FDI and economic growth in Malaysia. 3.1 Data 3.1.1 Data Resources According to Romano (2004), primary data can be define as data that is collected specially for the purpose of answering research question, while secondary data can be define as existing data collected in order to answer different research project. Secondary data was chosen for this research because it is less expensive compared to primary data, and takes less time to collect data that is needed for research. (Romano, 2004) Secondary data has made information far easier to be obtain by interpreting information from primary data and published them through secondary resource such as newspaper, journals, books, internet, and also research reports. () The existence of secondary data happens when a project needs the collection of data that has already been research in order to further understand the research question on a new project That is why secondary data is essential in order for us because it provide us with the knowledge to form research design and also answering our research quest ions in a more in depth scale. 3.1.2 Data Analysis Procedure In order to complete this research proposal we have mainly use secondary resource such as journals, websites, books, and also research report. Secondary resource has provided us with the information needed at the same time save us time and cost. KBU International College has provided us with books that contain the information needed for us to make references for our research topic. Internet network has been a major contribution by using the Google Chromes search engine we are able to obtain various journals and reports from websites that allows us to make reference and understand our research objectives. Emerald website in particular by using Anglia Ruskin University account has granted us the access to various journals that are easy to obtain without any hassle. The usage of less text book is because the library has insufficient information needed to answer our research questions. 3.2 Hypothesis Null hypothesis H0: FDI is not important for transporting advance technology to enhance host country economic growth. Alternate hypothesis H1: FDI is important for transporting advance technology to enhance host country economic growth. Technology advancement is essential in developing economic growth because it produces skilled labor that will enhance productivity and satisfying demands from consumer. According to Easterly et al. (1995), technology transfer depends on the diffusion process and can take place in 4 forms which is transfer of new technologies and ideas, high technology imports, foreign technology adoption and also level of human capital. Diffusion process of technology into host countries can be different depending on the human capital and availability of technology in the country itself. Example, study made by Borensztein (1998) on developing economies concluded that FDI has positive economy growth but the effect of magnitude depends on the availability of human capital in the host country. This clearly shows that advance technology is very important to enhance economic growth at different level of diffusion growth. Null hypothesis H0: Economic stability is not important to attract FDI into the country Alternate hypothesis H2: Economic stability is important to attract FDI into the country Many countries should pay more attention to economic stability in order to attract FDI which can enhance economic growth. With a stable economy it portrays a positive image and good economic positioning, which in turn attracts foreign investors to invest and generate profit from the investment made in the foreign country as a guaranteed. Therefore, determinants of economic stability should be given attention, the determinants are such as exports, and government expenditure, domestic consumption, and exchange rate that should be manage well by government. According to the research done by Kogid,et.al,(2010) , the most important determinant of economic stability in Malaysia is export and consumption expenditure. Their study also found out that government expenditure and exchange rate are less effective on economic growth but it does not mean it should be ignored but these factors can be act as catalyst and complement factor of economic growth. Null hypothesis H0: Implication of policy does not promote economic growth. Alternate hypothesis H3: Implication of policy does promote economic growth Implication of policy reform is important to draw attention of foreign investment. Policies to promote growth have evidence but it does not work for other countries. This can be seen from the study made by Ahmad and Harnhirun (1996) which studied on new industrial countries such as Indonesia, Malaysia, Philipines, Singapore and Thailand that found out export and economic growth dependent on development of policy. Therefore, government should impost relevant policies to attract FDI into Malaysia. Example, policies like joint venture which give opportunities to domestic producer to become one with foreign investors. This way will benefit local partner as they have exposure towards technology. 3.3 Limitation Theoretical framework of FDI that is use to analyses the FDI determinants and economic growth in Malaysia could have been done more accurately with more secondary resources. Firstly, KBU International College provides insufficient books that have relation with this research topic. However, KBU does provide student with the account to access Emerald websites that contains many research journals and reports that is very convenient for our research topic. In addition, some determinants of FDI in the theoretical framework were not taken into consideration because there has been insufficient research done on some determinants of FDI that affects economic growth in Malaysia. As a result, this research is not entirely completed to reflect the full extent of FDI on Malaysias economy growth. Since this research is mainly dependent on opinions of researchers around the world, this may lead to inaccuracy of research because they might disagree with research and opinions done by other authors around the world. 4.0 Ethical Consideration Before the research is done, respondents will be notified regarding the aim, benefits and purpose of the research is conducted and the method that is engage to carry out this research so that respondent will be able to understand the reason of caring out this research and the potential hazard level of this research. There are also no pressure of any kind shall be force for individual to become subject of research. In addition, respondents have the permission to withdraw or terminate from participating and becoming subject of the research. These are the ethical action taken so that there will be no violation of human rights. The identity of respondents from who involves in the survey is strictly confidential and shall be discarded once research is completed unless permission is granted by respondents for publish sake. No information of respondents will be revealed and included in the final report. Relationship between Foreign Direct Investment and Growth Relationship between Foreign Direct Investment and Growth Chapter 1: INTRODUCTION This study will give us an opportunity to identify the determinants of FDI that develops economic growth, to understand the importance of foreign direct investment (FDI) in enhancing the economic growth in Malaysia, and also the relationship between (FDI) and the economic growth in Malaysia. In this chapter of study, the main focus will be on research background, research objectives, research questions and also the significant of study. Research Background 1.1.1 The Trend of Foreign Direct Investment (FDI) Flow in Malaysia The relationship between the growths of FDI with countries has been a debatable issue for several decades. This has become an eye opener which agreed by (Karimi, Sharift and Yusop, 2009, p.2) which drive policymakers to engage in incentives such as export processing zone and tax incentive in order to attract FDI. However, the determinant of FDI in each country is different and failure to understand how a specific country can attract FDI will bring difficulties to changes in economy. In the case of Malaysia, in 2007 the economy was ranked at 29th largest economy in the world with gross domestic products that worth to be $357.9billion (World Bank, 2007). Despite the impact of many externalities such as, oil crises in 1970s, to downturn in electronic industry in 1980s, and majorly impact the Asian financial crisis in 1997s. According to (Ministry of Finance, 2006) the growth of economy in Malaysia was consistent from 1988 to 1996 and maintain the economic annual growth of 7-10% per annu m, by the year 2005 the main source of growth was the manufacturing sector whose share of GDP increase to 31.4 percent. The key driver for the ongoing performance of Malaysias economy is the result of policy reform which is a determinant Foreign Direct Investment (FDI) which enhances the economic growth of Malaysia. The evidence here can be seen by (Ministry of Finance, 2001) introducing the Investment Incentives Act 1968, free trade zones in early 1970s, and export incentives with open policy in 1980s has led to an establishment of FDI in the 1980s. One good example to show that the government has use policy as a determinant of FDI would be, The Promotion of Investment Act (PIA) 1986 which gave a larger percentage of foreign equity ownership in order to attract FDI to enhance economy of Malaysia. This graph illustrates the FDI inflow from 1970-2004 in Malaysia. This research shown that (Har, Teo and Yee, 2008, p.12) FDI stock in Malaysia grew tremendously from 1970s to 1990s, despite fluctuation between the years, and the growth of FDI has been promising from $94 million dollars in 1970s to $2.6 billion by 1990s. Unfortunately, in the early 1990s, the rate of FDI inflow has decrease because of the slowdown investment in Malaysia by two main sources of investors which is Japan and Taiwan. As of 1996, the FDI rate (Har, Teo and Yee, 2008, p.12) has reach its peak when Malaysia successfully accumulated $7.3 billion dollar, by the end of 1998. There has been a major reduction in FDI inflow due to the financial crisis in 1997 that affected many Southeast Asia countries. Unfortunately, by the early 2000s the inflow of FDI in Malaysia has been unpredictable and inconsistent, but still manages to generate average inflow of $3billion per year. In 2007, Malaysias inward (FDI) performance index has reduce compared to the inward (FDI) potential index which shows that Malaysia lack the capability to attract foreign investors in this recent years as seen in table1, and the key factors is because neighboring countries such as China, and India has much more attractive offers such as lower labor cost that make their business more efficient. Since the inflow FDI has been decreasing, Malaysia was ranked 71 in 2007. The table above explains that inward FDI inflow in Malaysia were only US $ 8,043 million and it was only 2.6% of total inflow of FDI to Asia and by that time China has possesses the share of as much as 26.05%.(World Investment Report, 2008) The conclusion can be made here is that Malaysias reduction inflow of FDI is mainly because their incentive are becoming less competitive compared to other countries in Asia. Problem Statement FDI is strongly recommended to achieve consistent economic growth and resulting in modernisation in industrialisation and raise the living standards of the society. There are many determinants regarding FDI and based incentive policy is one of them. Research shows that (Lam and Liew, 2009, p.435) 2 main assumption of this incentive are that high monetary incentive allows FDI to be attracted easier and high inflow of FDI might lead to higher economic growth. Unfortunately, incentive is not necessary monetary-based like tax exemption but can be a long term relationship that seeks for mutual benefits of both sides. The evidence can be seen that the total inflow of FDI into the region of South East Asia, East Asia and South Asia has increased by 15% to USD 165million in 2005 but for Malaysia despite the fact that many monetary based incentives is provided, Malaysia still experiencing a decrease in foreign direct investment. (Tomlinson, Abdullah, Kolesnikov and Jessop, 2006) In 1990, Mala ysia was ranked 4th in the world for FDI, but was ranked 62th in 2005 and recorded negative inflow of net foreign direct investment in the year 2007 More attention should be given by government, researchers and policy makers to identify the problem and produce the solution that can stimulate the FDI in Malaysia. Much research has been done to stimulate FDI, but a lot lesser research has been carried out considering international relations because mostly focus on microeconomic aspect of domestic firm performance. It is very important for foreign investors to gain confidence to invest in Malaysia, hence enhance the economic growth in Malaysia. More research should be done to determinant other determinants of FDI in order to develop the performance of economy in Malaysia. It is very important for more research to be done on FDI with international relation in order to identify the determinants of FDI that can stimulate the economic growth of Malaysia and not on incentive that only focuses on profit maximization of one sided benefits. Research Objectives The objective of carrying out this study is as below: To review the determinants of FDI that is affecting economic growth in Malaysia To analyze the relationship between FDI and economic growth in Malaysia. To evaluate some policy actions related to increase the inflow of FDI in Malaysia. Research Questions This study is conducted to address the following research questions: Do the determinants of FDI inflow affect the economic growth in Malaysia? Will relationship with FDI result in bloom of economic growth in Malaysia? How policy actions can increase the inflow of FDI in Malaysia? Chapter 2 : LITERATURE REVIEW 2.0 Introduction In this section, a review of literature will provide us with a better understanding of the determinant of FDI and the growth of economic in Malaysia. This chapter focuses on the empirical studies on the role of FDI in the economic growth of host countries. Furthermore, a conceptual framework of these variables will be provided. 2.1 Review of Literature 2.1.1 Foreign Direct Investment (FDI) Foreign Direct Investment (FDI) has associate with many leading roles in development of host countries such as source of capital, new job opportunities, diffusion of new technology into country, and develop overall economic growth of host countries. Empirical studies have been carried out to show the relationship between FDI and economic growth while others focuses more on the causality of these two variables. Different methods are use by research to find out the determinants of FDI and the relationship it has with economic growth of host countries. By using cross-section data and OLS regression, Balasubramanyam (1996) found out that host countries that impose export promoting strategy produce positive growth of FDI on the economic growth but this does not apply to host countries as imposes import substitution strategy. Cross-sectional data has also conclude that high level of institutional capability which measured by degree of property right protection and bureaucratic efficiency in host country leads to a positive effect of FDI which enhances the economic growth of host countries. (Olofsdotter, 1998) In the work of Borensztein, et al. (1998), they utilize the cross country regression framework to analyse the effect of FDI on economic growth. They use the FDI flows data from industrial countries to 69 developing countries for the past two decades. Their research provided essential information that shown FDI plays an important role in diffusing new technology in host countries, and relatively boost overall economic growth rather than domestic investment. According to another research on (Borensztein et, al.1998) developing economies which focuses on the diffusion process of technology and economic growth, they found out that the positive impact of FDI on economic growth is highly dependent on the availability of human capital in the specific host country. De Mello (1999) uses both time series and panel data fixed effects for a sample of 32 developed and developing countries to study the relationship of FDI and economic growth. However, he only found out little result showing positi ve effect of FDI that affects the economic growth of host country. There are also other research that focuses on the causality between FDI and economic growth. Zhang (2001) and Choe (2003) use co integration and Granger causality test for a sample of 11 developing countries in East Asia and Latin America. Zhang (2001) found out that 5 cases that shows enhancement of economic growth but the condition of host country is important, so factors such as macro stability and trade regime must be attractive to attract FDI in host countries. Through the research of Choe (2003), the finding of casuality between FDI and economic growth shows that FDI is dependent on the economic growth of host country and not the other way around. Little evidence was shown that FDI enhance the growth of economy, but mainly supports that rapid economic growth enhances the FDI inflow into the country. Chowdhury and Mavrotas (2003) use innovative econometric methodology to identify the causality of FDI and economic growth. The research was done using time series data from 1969 to 2000 for three developing countries that are Malaysia, Chile and Thailand. Each country involve with different background of determinants of FDI such as macroeconomic episodes, growth patterns, and policy regimes. Their study found out that GDP was the cause of growth of FDI in Chile, but it does not go the same with Malaysia and Thailand which has strong evidence of bi-directional causality of these two variables. In the case of Frimpong and Abayie (2006), In the research (Bengoa and Sanchez-Robles, 2003) by using panel data to study Latin America between the relationship of FDI and economic growth, they found out there is a positive impact of FDI that lead to increase in economic growth but the research is similar to Borensztein, et.al, (1998) that says economic development depend on the countrys stability condition. Finally, Duasa (2007) which focus on the causality between FDI and output of economic growth in Malaysia and the study found no evidence of relationship between FDI and economic growth. These has indicate that in the case of Malaysia, FDI does not cause economic growth but FDI contributes to stability of growth as growth contributes to stability of FDI. In order to understand the determinants of FDI more accurately, we can see through research done by Vernon (1966) by using product cycle hypothesis which relates to trade theory by Hufbauer (1966). The theory is about the relationship between investment theory and trade theory by using products as they are export or invested. They found out that competition prices in host countries drives foreign investors to seek cost advantages especially labour cost. This shows that innovation of countries to attract FDI is important to improve economic growth. 2.1.2 Economic growth in Malaysia Export growth can be considered as the most researched determinant factor of (FDI) in economic growth. According to Chow (1987, p.124), the export growth of development countries can be identified through the impact of increase in countrys income, non-export production of goods, resource allocation, and capital efficiency, ability in handling external shocks, negative external effects and also total productivity factor. Therefore, research has shown export strategy has been an effective factor in enhancing the economic growth of developing countries. Furthermore, these countries have also testified that export promotion is an effective development strategy (Jung and Marshall, 1985). However, export strategy is not the main determinant factor of FDI that promotes economic growth. According to Ahmand and Harnhirun (1996) research, by using time data series from 1966 until 1988 to determine whether export is the main (FDI) factor that affects countries economic growth on industrial countries like Malaysia, Philipines, Singapore and Thailand, they found out that economic growth and export is dependent on development of countrys policy, and also economic development causes export growth not the other way around. In order to (Alfano et.al, 2004) identify the relationship between FDI, financial market, economic growth and also to find out whether countries with better financial systems are able to exploit FDI effectively. An empirical analysis was done by using cross country data from 1975 to 1995 which concluded that FDI played a leading role in contributing to economic growth in 71 countries which means countries with good financial market are able to take advantage of opportunity offered by FDI. Li and Liu (2005) studied whether FDI affect economic growth by using single and simultaneous system of equation techniques to test these two variables. Their research found a significant relationship between FDI and economic growth which identified, Human capital has indirect interaction with FDI that leads to positive impact on economic growth in developing countries, whereas countries with insufficient technology knowledge will have significant negative impact on economic growth in developing countries Another study done by Hsiao and Hsiao (2006) using panel data and time series from 1986 to 2004 to identify Granger causality between GDP, export and FDI among China, Korea, Taiwan, Hong Kong, Singapore, Malaysia, Philippines and Thailand found out that FDI has direct one way effect on GDP and indirect effect through export. There was also bilateral causal relationship between export and GDP. Lastly, study done by Baharumshah and Thanoon (2006) using quantitative assessment found out that FDI effects economic growth both long-term and short term in the host countries. Their research has also shown that countries that are able to attract inflow of FDI successfully can generate more investment which leads to faster overall development of economy, hence FDI is a major contributing factor in the economy of East Asian countries. Ang (2007) use annual time series data from 1960 to 2005 in order to find out the determinants of FDI in Malaysia found out that GDP growth had a significant positive impact on FDI inflow. 2.2 Theoretical Framework Foreign direct investment (FDI) Independent variable Dependent variable Technology advancement Economic growth in Malaysia Human Capital Policy development Social GDP 2.2.1 Analysis path This framework is to understand the research of the two variables in the case of my research proposal, foreign direct investment (FDI) is the independent variable and economic growth in Malaysia would be the dependent variable. The purpose of this research proposal is to understand the relationship of FDI and economic growth in Malaysia. In addition, Malaysia can implement different FDI contributing factor that can enhance economic growth in the country. The analysis here is about the determinants of FDI and it interests me in which Malaysia can implement and make FDI more attractive to be invested by foreign firms. In this analysis, the information accumulated should provide the key determinants of FDI at the same time enhance the development of economic growth in Malaysia. Chapter 3: METHODOLOGY 3.0 Introduction This section describes the research methodology use in the study to access the relationship between FDI and economic growth in Malaysia. Simple ordinary least square (OLS) regression and the empirical analysis are done using annual data of FDI and economic growth in Malaysia over the 1970-2005 periods. The research was done using annual data from IMF international Financial Statistic tables, published by International Monetary Fund to find out the relationship between FDI and economic growth in Malaysia. 3.1 Data 3.1.1 Data Resources According to Romano (2004), primary data can be define as data that is collected specially for the purpose of answering research question, while secondary data can be define as existing data collected in order to answer different research project. Secondary data was chosen for this research because it is less expensive compared to primary data, and takes less time to collect data that is needed for research. (Romano, 2004) Secondary data has made information far easier to be obtain by interpreting information from primary data and published them through secondary resource such as newspaper, journals, books, internet, and also research reports. () The existence of secondary data happens when a project needs the collection of data that has already been research in order to further understand the research question on a new project That is why secondary data is essential in order for us because it provide us with the knowledge to form research design and also answering our research quest ions in a more in depth scale. 3.1.2 Data Analysis Procedure In order to complete this research proposal we have mainly use secondary resource such as journals, websites, books, and also research report. Secondary resource has provided us with the information needed at the same time save us time and cost. KBU International College has provided us with books that contain the information needed for us to make references for our research topic. Internet network has been a major contribution by using the Google Chromes search engine we are able to obtain various journals and reports from websites that allows us to make reference and understand our research objectives. Emerald website in particular by using Anglia Ruskin University account has granted us the access to various journals that are easy to obtain without any hassle. The usage of less text book is because the library has insufficient information needed to answer our research questions. 3.2 Hypothesis Null hypothesis H0: FDI is not important for transporting advance technology to enhance host country economic growth. Alternate hypothesis H1: FDI is important for transporting advance technology to enhance host country economic growth. Technology advancement is essential in developing economic growth because it produces skilled labor that will enhance productivity and satisfying demands from consumer. According to Easterly et al. (1995), technology transfer depends on the diffusion process and can take place in 4 forms which is transfer of new technologies and ideas, high technology imports, foreign technology adoption and also level of human capital. Diffusion process of technology into host countries can be different depending on the human capital and availability of technology in the country itself. Example, study made by Borensztein (1998) on developing economies concluded that FDI has positive economy growth but the effect of magnitude depends on the availability of human capital in the host country. This clearly shows that advance technology is very important to enhance economic growth at different level of diffusion growth. Null hypothesis H0: Economic stability is not important to attract FDI into the country Alternate hypothesis H2: Economic stability is important to attract FDI into the country Many countries should pay more attention to economic stability in order to attract FDI which can enhance economic growth. With a stable economy it portrays a positive image and good economic positioning, which in turn attracts foreign investors to invest and generate profit from the investment made in the foreign country as a guaranteed. Therefore, determinants of economic stability should be given attention, the determinants are such as exports, and government expenditure, domestic consumption, and exchange rate that should be manage well by government. According to the research done by Kogid,et.al,(2010) , the most important determinant of economic stability in Malaysia is export and consumption expenditure. Their study also found out that government expenditure and exchange rate are less effective on economic growth but it does not mean it should be ignored but these factors can be act as catalyst and complement factor of economic growth. Null hypothesis H0: Implication of policy does not promote economic growth. Alternate hypothesis H3: Implication of policy does promote economic growth Implication of policy reform is important to draw attention of foreign investment. Policies to promote growth have evidence but it does not work for other countries. This can be seen from the study made by Ahmad and Harnhirun (1996) which studied on new industrial countries such as Indonesia, Malaysia, Philipines, Singapore and Thailand that found out export and economic growth dependent on development of policy. Therefore, government should impost relevant policies to attract FDI into Malaysia. Example, policies like joint venture which give opportunities to domestic producer to become one with foreign investors. This way will benefit local partner as they have exposure towards technology. 3.3 Limitation Theoretical framework of FDI that is use to analyses the FDI determinants and economic growth in Malaysia could have been done more accurately with more secondary resources. Firstly, KBU International College provides insufficient books that have relation with this research topic. However, KBU does provide student with the account to access Emerald websites that contains many research journals and reports that is very convenient for our research topic. In addition, some determinants of FDI in the theoretical framework were not taken into consideration because there has been insufficient research done on some determinants of FDI that affects economic growth in Malaysia. As a result, this research is not entirely completed to reflect the full extent of FDI on Malaysias economy growth. Since this research is mainly dependent on opinions of researchers around the world, this may lead to inaccuracy of research because they might disagree with research and opinions done by other authors around the world. 4.0 Ethical Consideration Before the research is done, respondents will be notified regarding the aim, benefits and purpose of the research is conducted and the method that is engage to carry out this research so that respondent will be able to understand the reason of caring out this research and the potential hazard level of this research. There are also no pressure of any kind shall be force for individual to become subject of research. In addition, respondents have the permission to withdraw or terminate from participating and becoming subject of the research. These are the ethical action taken so that there will be no violation of human rights. The identity of respondents from who involves in the survey is strictly confidential and shall be discarded once research is completed unless permission is granted by respondents for publish sake. No information of respondents will be revealed and included in the final report.