NASDAQ OMX and SunGard APT Extend Partnership to Deliver Risk Analytics for NASDAQ OMX Green Economy Indexes
NASDAQ OMX and SunGard APT Lengthen Partnership to Offer Hazard Analytics for NASDAQ OMX Eco-good Financial weather Indexes &ampampampampamp#thirteen
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New York, NY (PRWEB) April 06, 2011
SunGard’s APT and The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) these occasions launched their current danger analytics partnership has been prolonged to consist of the NASDAQ OMX Eco-good Financial weather Indexes, aiding portfolio professionals discover the investment option danger and choices associated with shares in the International Eco-good Financial weather. Whilst the new cherished kinds of inexperienced indexes from NASDAQ OMX offers an essential instrument for stock option, portfolio allocation and benchmarking, traders looking for a great offer a lot much more than a benchmark will be in a place to advantage from APT’s danger analytics to evaluate choices in the growing ‘Green’ investment option schedule.
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By way of SunGard’s APT, which offers danger modeling, reporting, danger attribution and situation analysis skills, companies will be in a place to obtain higher concept into NASDAQ OMX Eco-good Financial weather Indexes, in flip aiding enhance investment option option creating. Completely totally free weightings and components for the NASDAQ OMX Eco-good Financial weather Listing cherished kinds are now accessible to APT customers. In addition, choose indexes are accessible in APT danger analysis critiques.
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John Jacobs, authorities vice president, NASDAQ OMX International Listing Group, talked about, “As the globally monetary weather recovers, traders are concentrating a great offer a lot much more on environmentally good investments. NASDAQ OMX offers a total cherished kinds of indexes checking the growing environmental and unique-energy marketplace, and we are delighted to lengthen our partnership with SunGard’s APT to help buy-element traders a great offer a lot better understand the danger and return trade-offs of their placements in Eco-good Financial weather Listing-associated products.”
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Dr. Laurence Wormald, head of research of SunGard’s APT company gadget, said“Investors are demanding a great offer a lot much more transparency into the hazards and exposures associated with any directory or directory-connected investment option. SunGard’s APT offers fast and versatile danger analytics that can help enhance investment option choices by creating a great offer a lot much more sturdy portfolios all through asset applications, places and investment option designs.”
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SunGard’s APT assists investment option companies offer with danger by supplying designs and reporting that consist of danger steps (this type of as portfolio checking error, truly worth at danger (VaR) and volatility), danger attribution and situation analysis. This information will be up to working day immediately to offer analytics on a option of NASDAQ OMX indexes, which is produced up of the inexperienced indexes. To entry the APT and NASDAQ OMX danger critiques, go to http://www.sungard.com/go/apt/nasdaq. In addition, NASDAQ OMX and SunGard offer a subset of this information on their respective internet websites as a complimentary supplying.
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Mixing the monetary components that energy renewable and unique enhancement, NASDAQ OMX’s total cherished kinds of indexes addresses the whole inexperienced monetary panorama with constituents that are chosen all through all company sectors using element in the inexperienced answer. At the head of the cherished kinds is the all-inclusive NASDAQ OMX Eco-good Financial weather Listing (NASDAQ:QGREEN). Businesses for the whole Eco-good Financial weather Listing Cherished kinds are chosen by Rona Fried, Ph.D. of SustainableBusiness.com, LLC. For a great offer a lot much more information about NASDAQ OMX’s Eco-good Financial weather Listing Cherished kinds, go to https://indexes.nasdaqomx.com/inexperienced.aspx.
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About NASDAQ OMX International Listing Group&ampampampampamp#thirteen
NASDAQ OMX International Listing Group is engaged in the type, enhancement, calculation, licensing, and marketing of NASDAQ OMX Indexes. NASDAQ OMX International Listing Group specializes in the enhancement of indexes concentrating on NASDAQ OMX's brand name title title title themes of innovation, methods, enhancement, and globalization. NASDAQ OMX International Listing Group also offers personalized directory choices and type choices as a third-celebration supplier to chosen monetary companies. For a great offer a lot much more information about NASDAQ OMX indexes, go to http://www.nasdaqomx.com/indexes.
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Entry to essential historic directory information for NASDAQ OMX indexes can be accessed from a solitary offer, NASDAQ OMX International Listing See. For extra information, make particular you go to https://indexes.nasdaqomx.com/indexwatch.aspx.
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About NASDAQ OMX Group &ampampampampamp#thirteen
The NASDAQ OMX Group, Inc. is the world's biggest trade company. It offers purchasing and marketing, trade methods and community company choices all through 6 continents, with roughly three,600 outlined companies. NASDAQ OMX offers many cash elevating choices to companies about the globe, which is produced up of its U.S. listings marketplace, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX Initial North, and the U.S. 144A marketplace. The company offers purchasing and marketing all through many asset applications which is produced up of equities, derivatives, monetary debt, commodities, structured products and trade-traded cash. NASDAQ OMX methods supports the characteristics of much more than 70 exchanges, clearing companies and central securities depositories in a great offer a lot much more than fifty countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not authorized entities but make unique the typical supplying from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For a great offer a lot much more information about NASDAQ OMX, go to http://www.nasdaqomx.com. Make certain you adhere to NASDAQ OMX on Fb (http://www.fb.com/webpages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx).
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About SunGard’s APT &ampampampampamp#thirteen
SunGard's APT offers investment option methods for a wide option of asset applications, countries and places which is produced up of information and software program plan for comprehending marketplace danger, credit score rating rating rating danger, liquidity danger and for portfolio creating and common general overall performance analysis. APT offers traders with statistical marketplace danger designs, common general overall performance and danger analytics and portfolio optimization and creating gear. APT's customers consist of institutional and retail asset professionals, pension cash, individual prosperity professionals, hedge cash, broker/sellers, main brokers and proprietary traders. http://www.sungard.com/apt/learnmore
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About SunGard &ampampampampamp#thirteen
SunGard is one of the world's leading software program plan and methods choices companies. SunGard has a great offer a lot much more than twenty,000 employees and serves twenty five,000 customers in 70 countries. SunGard offers software program plan and processing choices for monetary choices, higher coaching and the community marketplace. SunGard also offers disaster restoration choices, taken treatment of IT choices, information availability consulting choices and company continuity administration software program plan. With yearly earnings of about $ five billion, SunGard is rated 380 on the Fortune 00 and is the biggest privately held company software program plan and IT choices company. For a great offer a lot much more information, make particular you go to SunGard at http://www.sungard.com.
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Trademark Info: SunGard, the SunGard emblem and APT are emblems or registered emblems of SunGard Techniques Inc. or its subsidiaries in the U.S. and other countries. All other trade names are emblems or registered emblems of their respective holders.
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Cautionary Be conscious Concerning Ahead-Looking Statements &ampampampampamp#thirteen
The problems described herein consist of forward-looking statements that are produced beneath the Secure Harbor provisions of the Individual Securities Litigation Reform Act of 1995. These statements consist of, but are not limited to, statements about the NASDAQ OMX Eco-good Financial weather Indexes. We warning that these statements are not guarantees of prolonged phrase common general overall performance. Actual results might differ materially from these expressed or implied in the forward-looking statements. Ahead-looking statements entail a amount of hazards, uncertainties or other components prior NASDAQ OMX's offer with. These components consist of, but are not limited to components total in NASDAQ OMX's yearly report on Type 10-K, and periodic critiques submitted with the U.S. Securities and Trade Commission. We undertake no obligation to begin any revisions to any forward-looking statements.
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©Copyright 1997-
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Vocus, PRWeb, and Publicity Wire are emblems or registered emblems of Vocus, Inc. or Vocus PRW Holdings, LLC.
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The Future Of The World Economy
Last year the world economy grew by 5% [1], the fastest in recent years, led by extraordinary growth in China and a very high growth in countries in the world, most of the other third. United States and Japan also have very strong growth, despite the West's most pathetic performance. Can the good times last? Or global economic crisis?
Global economic boom has been rejected by two factors.
This has been driven by the progressive liberalization of world trade and liberalization of the world's major economies such as China and India third. Level of average rates in countries such as China have been reduced from 41% in 1992 to 6% in 2004. greater liberalization of world trade has increased the volume of international division of labor and help increase growth in the world to remain whole and especially in third world countries. Especially if trade is not over, this factor will continue to help the world economy to grow. Another reason for the increase in economic growth that appears is the free market reforms, carried out by countries like China will be one of the most damaging communist system in human history (which is said to be many) into a virtual paradise of capitalism "to seem not exhausted resources work cheap, but competent and well being of no country and no union, and many other developing countries that free market reforms of the various stages of radicalism.
But there are also dark side of the current boom. This is driven by cheap money policy the Federal Reserve. And not just the U.S. economy depends on this foundation is not stable. Most of the rest of the world also rely on cheap money policy of the Federal Reserve. This is in part because of the world has become increasingly dependent on the growth of trade surplus with the United States created by excess demand in the U.S. is produced by Bold and the policies of that is because the U.S. dollar bearish pressure for lower interest rates to mimic other central banks cheap money policy Fed to prevent their currencies rising too quickly against the U.S. dollar value. In addition, global economic growth is also preferred structural problems in Europe and Japan.
To better understand the global economic outlook, we must analyze in detail the strengths and weaknesses of the four major strength of the global economy: the U.S., the European Union, Japan and China. As the prime mover of the global movement of global economy, make sense to focus on them. There are some big developing countries like India, Brazil and Russia could also be discussed.
We start with the U.S. economy. with strong U.S. economy is that it is still one of the more market-oriented economy in the world, with the level perpajakan and regulations were much lower than in European nations and Japan. The company is also developing financial markets and institutions of higher education. This is what has contributed to America is the richest country in the world (apart from small Luxembourg) and the results are better than most rich countries to another. Although some U.S. politicians to destroy the benefits will still be a positive factor in coming years.
Achilles heel of the U.S. economy relying heavily on cheap loans. Five years ago, the U.S. experienced the largest price bubble of the 1920s with valuasi technology shares, the ridiculously quality. bubble was driven by rapid expansion of money and was accompanied by a sharp increase in private sector debt and deficit balance running transactions, which they reached a new record.
Level of private sector financial savings, which usually fluctuates counter-cyclical, which fluctuated between a surplus of around 5% of GDP in the recession and around zero for a booming, has terlempar into negative territory at -6% of GDP.
When the bubble burst in the spring of 2000, the U.S. economy emerged as the background, set to a severe recession. But the recession in 2001 following the stock price bubble Meledaknya very light. Avoid a severe recession all by mixing a combination of tax cuts and increased production, and wound more quickly and higher interest rate in U.S. history, the real interest rate declined to negative territory for the first time since 1970.
But this success to avoid a deep recession that occurred at the cost of maintenance and actually worsen the imbalance that created a recession in 2001. The end of the stock market bubble followed by the creation of another bubble, this time at home. Usually for a recession, and private sector debt declining household and business balance sheets of the net savings quality. But while the balance was restored after a sharp decline in business investment and profits of a family record in spending spree has never happened before, owed more households than ever before, and save up to approximately 5
As a result, budget deficit and domestic production of oats, this time against current musical trends of the recession, the deficit rose to the level of transactions running high, the private sector debt continued to rise while the number of private sector financial savings in fixed unprecedented weakness in the recession of that was even in booming. And when the economy recovered from recession, debt accumulation, of course, have increased levels.
So, besides the fact that too high voting shares less than five years and now a strong company balance sheet, basic ketimpangan in the U.S. economy is actually greater now than then. This makes the U.S. economy vulnerable to crisis. And this imbalance even larger and more meaningful for the politicians and the central bank to reduce the crisis will be more limited because interest rates are far lower and the financial deficit, not surplus.
So, when they come from the crisis? The exact date of introduction is not possible, of course. This will be the base when the current rise, super low interest rate that is, delete, and / or imbalances become so great that fall under its own weight. You can also say that it is not possible in the future. Although there are some signs that the housing boom started late, this will be offset by the expected further increase in business investment.
With the level of company profits at near record levels remain well below the historical average and business investment remain below the historical average, it means that the company not only CASH will be required to finance the large investments without much external capital, but more important than the profit on the investment level is very high, so there is a strong incentive to increase investment.
The decrease is likely to contribute to a stable increase in the deficit and debt transactions run the private sector.
So in conclusion, if we can be quite optimistic about the U.S. economy in the short term because of the explosion and likely long-term business investment because the economic structure is relatively fixed market-oriented, making the imbalance created by the Fed's cheap money policy of a potential severe recession and a half-term prospects . But can, if strong possibility of recession will cause a reaction in the form of highly damaging protectionist, higher tax and production, or high inflation may cause long-term outlook is more pessimistic.
Europe for a long time left behind the United States and other countries in growth. Or, at least. European Union as a whole course, there are large differences between European countries. This is especially the countries three major euro zone, Germany, France and Italy, which had grown bleak. British and Spanish had a stronger growth, while Ireland and Luxembourg have been growing really unique. But like Germany, France and Italy account for more than two-thirds of the economy in the euro area, while Ireland and Luxembourg are the two smallest countries in the euro zone, their economy is more or less identical with the development across Europe.
It's clear that the vast myth causes economic problems in Europe are too tight monetary policy of the ECB. This claim repeatedly made by politicians in various countries and the European press of business establishments. And Larry Kudlow even accused the ECB to carry out the land "fire deflationary" monetary policy. But this reputation as a kind of fortress ECB money (unfortunately) completely wrong. Has exceeded the ECB's own target for monetary growth and inflation. During his 6 years, M3 has grown average of 6.7% compared with the speed of growth of 4.5% and consumer price inflation has average charge of 2.2% v target of below 2%. At the end of 2004, negative interest rates in the short term, consumer price inflation was 2.4%, M3 growth of 6.4% and growth in private sector debt 6.9%. The reason behind the ECB's false reputation as a stronghold of money that appears to be a false syllogism "weak growth is a result of tight monetary policy. Europe has weak growth. That is why Europe must have a tight monetary policy." But as the first policy is false, so is the conclusion of the syllogism.
However, the cause of weak growth in Europe was two, the highest percentage on the roots.
One, government spending and the high administrative burden is much more expensive than in the United States and China.
Second, the quickly aging population in Europe as a whole and especially in Germany and Italy. In countries such as Germany, France and Italy, the retirement age of 55 music and 60 years. With the average age in Germany and Italy are expected to almost 55 in 2050, this would mean that there will be much older than the older pensioners in the population of working age. In combination with the large number of working age living on welfare, it means the collapse of fiscal and large decline in the supply of labor and capital. This process took the victims, especially in Italy and Germany. Of course, the aging population need not be a problem for the economy, with the conditions that increase retirement age average in relation to the Middle Ages. But retirement has proved very difficult. When the French government to raise the age for workers pensiun 55-57,5 publicity in the summer of 2003, causing major protests and strikes, and all the politicians trying to increase the retirement age will have the same large protest and strike, and probably will opt out of the office by National welfare addicts.
But unless the European politicians to take drastic action to stop the demographic explosion, increasing employment opportunities and increase the retirement age, this problem will get worse with time.
Germany recently to take some temporary measures to reduce the administrative burden is high and unemployment benefits, but these measures may not be enough to revive the German economy. European economic outlook is pessimistic. Unless European politicians dramatically change their welfare policies can be static outside of Europe to continue to decline relative to both the short and long term. And all the economic decline in Asia and the United States and further decline in the dollar could damage European export market, industry, and thus eliminate the only source of Europe has until now.
Europe is a bright point for the incorporation of East European economies are relatively free market, where tax rates are very low not only compared to Western Europe, but also compared with the United States. Not surprisingly, this resulted in the rapid economic growth. And the countries of Eastern Europe has become part of the European Union will support overall growth. In addition, the increased tax competition from Eastern Europe is beginning to get some Western European countries to lower taxes, particularly taxes on companies will increase their competitiveness. If for example in Eastern Europe to encourage countries in Western Europe to lower taxes and slash social production, so the prospect can be more clear. But unfortunately, there seems very likely.
Japan has long been a star rose in the world economy, it's more than Europe and America. But after a big share in Japan Bubble hotel in the late 1980s upset the Japanese economy has experienced a stagnation in the growth rate is lower than in Europe.
This is mainly because the banking system has been hampered by the large mass jammed credit. Japanese authorities have been willing to consider short-term pain associated with the liquidation of credit to be stuck and prolonged stagnation. Japan also share a lot of problems in Europe.
While Japan has a much lighter tax burden than Europe, the burden of administration, if the worse. And flexible economic structures created by the administrative burden redistribusi quality has become a source of inefficient companies is made more difficult by the inflationary boom of the United States. For this reason, the administrative burden of creating more problems for Japan now than before 1990.
Japan also faces demographic problems even worse in Europe. Japan has more people aged 65 or more people under 20 years, only Italy as well. And what is worse. Because there is less than 24 ½ million Japanese people aged under 20, while some 35 million, half of the 45-64 year age group, it means that Japan's working age will be reduced by more than 11 million or 14% over the next 20 years, whereas population is expected to fall only a few million. As in Europe, this will make a huge tax burden and reduce the supply of labor and capital, unless the retirement age. Which in turn guarantees a rate of growth rather sad.
One bright point in the Japanese economy grew in China. China's geographical proximity means that the Japanese media to take advantage of the increasing Western economic division of labor in this country. China has followed the United States as the largest trading partner. But Japan's recent export growth to China saw a sharp decrease as a result of successful efforts by the Chinese government restrict credit. But in the long run, Japan should be preserved to benefit more from China to the United States and Europe.
Another thing positive is that Japan will also benefit from the private sector has a lot to reduce the burden of debt, debt in the lowest level in more than 30 years. This means that Japanese companies do not risk another economic bust as a result of tight credit conditions.
Its medium term, however, is overshadowed by the crisis in the U.S. and its impact on China and the world. And fall of demographic and labor resources and capital reduction, which means increased load on the economy.
Since Deng Xiaoping, China began economic liberalization and as a result has developed highly unusual. Having been damaged for centuries by the English and Japanese imperialists, the destruction of civil war, and the 30 year mark of communism Mao Zedong, China has started to regain former status as an economic power.
According to official statistics on GDP by kurs dikonversi this time, the Chinese economy is still smaller than the British. But this figure is actually from China Camping measure, because no matter that the price was much lower in China than in the United. In all indirect indicators of economic size, China's economy is far greater than English. China, for example. Batubara largest customer, fertilizer and other commodities and second-largest oil customer (the U.S.) It is also the third largest trading partner in the world after the United States and Germany. China is clearly far more important for the global economy and that United will become more important in the future.
There are many reasons to believe that China will continue the extraordinary growth of the speed of at least the next decade. Not well, no unions and a large labor supply and savings, "communist" China is a paradise for capitalists. And as shown in the success of ethnic Chinese business in Hong Kong, Taiwan, Singapore and throughout Southeast Asia, China has a strong entrepreneurial spirit. And communism is no longer producing this enormous growth potential.
Although the estimated number of farmers in China vary widely depending on who you ask, even the lowest estimate calculates that at least half of the 1.3 billion Chinese people are farmers. If the relative size of the agricultural sector up to Western standards, this means that more than 600 million people will go to work in industry and services. And 600 million people is twice the total population of the United States.
Combining with the fact that China may be the highest level of savings in the world and thus can make the necessary investment for continued high growth rates. As the Economist pointed rejection, a high level of savings is largely due to the lack of well-being of a country that compels people to save if you have enough money, for example, pay medical bills.
Of course there is the potential danger for China, which can at least temporarily derail the strong growth. The rapid transition in the state could cause social unrest. China's banking system looks very fragile because the very terbebani the jammed credit. In addition, China is too dependent on exports to the United States. Chinese exports to the U.S. last year was 12% of GDP and bilateral trade surplus was 10% of GDP.
This makes China vulnerable to U.S. economic recession. First, the negative direct effect on exports, and second, because the Chinese might be blamed for the crisis, which may create a serious blow proteksionis would damage the Chinese economy. A yuan revaluation would be a good way for China to reduce reliance on exports to the United States. Though it created a series of short-term negative effects in terms of reduced exports and reduce the value of American assets will also reduce the cost of imports. And most importantly, China proteksionis well as reduce the risk of action alleged "rigging" the eyes money (as if there is any currency that is not manipulated at this time) will be lost, and reduce the damage caused by actions such as proteksionis higher dollar value of China's economy made by the revaluation will reduce the relative importance of exports to the United States.
On the other hand, China faces potential conflict with the United States in the rebel separatist group "" Taiwan region.
Prospects for China is very good, as long as they can avoid some hazards mentioned above.
This means that even short-term prospects for China's economy is strong, carry serious dangers of every crisis the U.S. economy, which in turn raises the risk of social instability and a fragile banking system. If China achieved through this crisis without breakage of the civil war, a reversal of market reforms, or a dramatic increase protectionist west or the problem of war in Taiwan, but you should be able to continue the impressive growth.
History of several large developing countries such as Brazil, India and Russia, have many similarities with China, and also began to liberalize their economies, which have helped to increase their growth rates. Its potential can not be as great as that done by the Chinese because their culture is less inclined to save and entrepreneurial culture as China and Brazil and Russia are far smaller population and a contraction in the case of Russia. India is also affected by the unofficial caste system that makes it more difficult to communicate the success of the Chinese population. Russian economy, and Brazil is a highly dangerous dependence on oil and agriculture, respectively. However, many other developing countries tend to grow in importance.
For the world economy as a whole, we should in the short term they hope to extend the current boom, but at the expense of worsened global economic imbalances. American debt burden will continue to increase, while the whole world will grow increasingly dependent on exports to the United States. In the medium term, a sharp increase in real interest rates and / or reduce confidence in the U.S. will cause a recession, which spread throughout the world in terms of decline in the value of exports to the United States, both for the direct reduction of the demand created by the economic downturn and the effect of indirect from the dollar to fall and may direct the steps proteksionis. This will contribute much worse than the internal problems of the world.
For the longer term we may see major changes in the global economy with other developed countries and the increasing importance of China, while Europe and Japan will gradually decline in importance. Due to economic difficulties in Europe, it seems unlikely the euro will replace the dollar as world reserve currency. But can the long-term perspective (ie a few decades from now) the Chinese yuan yuan assume that role when the full conversion and when China becomes the largest economy in the world. Visit: BlogBazaar.net
Fatih Abdullah
From Bangladesh
Works as a freelancer webdeveloper and article marketer
Affleited with NGOrg Technologies
Article from articlesbase.com
USACC Encourages Investment decision decision in Immigrant Education and Custom
USACC Encourages Investment decision in Immigrant Coaching and Custom &ampamp#thirteen
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Washington, DC (Vocus) April 10, 2009
The United States African Chamber of Commerce (USACC) commends the immigrant community in the U.S., recognizing their contributions to the financial climate, psychological money, and cultural materials of the country. Immigrant groups all through the country direct to the financial climate by filling function, supplying choices, purchasing goods and choices, and revitalizing neighborhoods and communities that are in decrease. Immigrant business proprietors think about advantage of the ethnic market and ethnic clientele filling gaps nevertheless still left by mainstream American business proprietors. Therefore, immigrant business proprietors do not displace indigenous-born business proprietors but instead broaden into places not or else exploited, contributing to the improvement of the American financial climate. In 2002, Hispanic-owned companies experienced income in extra of $ 226.four billion, and the 1.two million black-owned firms in the U.S. created revenues of $ 88.eight billion.
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Immigrant business proprietors direct not only to the financial climate, but to the American customized as correctly. As 1 study of Small Village in Chicago signifies, official storefronts and street distributors "enhance the distinctive cultural materials of business way of life in the community." Immigrants provide new suggestions and sights, make important contributions in the fields of science, technologies, and other people, and they speak about their cultural traditions, artwork, and delicacies that enrich our higher high quality of way of life.
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Initiatives aimed at shelling out sources and marketing coaching and customized in immigrant communities is a substantial, cost-effective solution to reduce poverty, market financial improvement, generate function, and even reduce intergroup conflict in the U.S.
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The USACC is the top advocacy business for U.S. African relations and increasing African marketplaces. The USACC is the umbrella business for African chambers of commerce and professional trade and business associations all through the United States and abroad.
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Contact&ampamp#thirteen
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Martin Mohammed, President&ampamp#thirteen
202-465-0778
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©Copyright 1997-
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Vocus, PRWeb, and Publicity Wire are emblems or registered emblems of Vocus, Inc. or Vocus PRW Holdings, LLC.
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Harper ‘constantly’ tells us there is ‘no Canadian economy’ and then to vote for him for the economic climate? http://youtu.be/SfXzwZtAgBY #cdnpoli
Harper &ampampampaposconstantly&ampampampapos tells us there is &ampampampaposno Canadian monetary climate&ampampampapos and then to vote for him for the monetary climate? http://youtu.be/SfXzwZtAgBY #cdnpoli - by LeftWing_Pinko (LeftWing_Pinko)
Website Maps US Economic climate and its Environmental Impacts
Web website Maps US Monetary weather and its Environmental Impacts &amp#13
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Charlottesville, VA (PRWEB) May 06, 2011
Today, TRUTHstudio introduced the start of Monetary weather Map two., an on-line, interactive, visible map of the United States economy and its environmental and human well being impacts. This revolutionary software program plan enables anybody to discover and comprehend the motion of items, options, and environmental impacts amongst major industrial sectors.
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Maritime tourism economic climate
Maritime tourism economic weather is mainly based on maritime all-all-natural resources for tourism launched an economic exercise. As the maritime tourism economic weather is a department of tourism economic weather, maritime tourism economic weather ought to to be in the tourism economic weather on the basis of additional improvement. "Ninth 5-Yr" Previously, the Situation Council formulated the "China Sea Agenda 21", established up a maritime economic improvement technique. The typical idea of actively discover the sea, this type of as the tertiary business, in accordance to the specs of a contemporary port city, to speed up the building of ports and sea lanes, supporting building of numerous maritime services and amenities, the coastal metropolitan locations into sightseeing, satisfaction, vacation, rehabilitation, purchasing, conference and exhibition and other total-showcased maritime tourism economic zone. This indicates that China's maritime tourism business in China's maritime economic weather, a new lively spot.
Deliver tourism economic weather, with twenty many years in the previous, has been acknowledged in the educational neighborhood, will not be unfamiliar. But talking about "maritime tourism economic weather (Maritime tourism economic weather)", there may be a type of strangeness. This is not surprising, merely because "Maritime tourism economic weather" is a new idea, it is narrowly mainly based on the extension of tourism economic weather out of a new economic weather. As the formerly twentieth century 70 "higher seas" This new view has been moved, very rapidly in numerous countries by the globe politicians, economists, scientists agree, like, "Maritime tourism economic weather," this idea will rapidly for human acceptance.
These times, tourism has turn out to be the backbone sectors of the globe economic weather, as an economic business worried in the process of the entire socio-economic activities has turn out to be an integral component of the nationwide economic weather. Indispensable in the tourism economic weather of tourism offer resources, coastal environment, blue sea, island environment, Underwater Globe and other sea-related all-all-natural resources account for a large component. Nevertheless, the number of vacationer resources are maritime resources, tourism revenues in the number of journey from the sea is currently not possible to strictly impartial the area.
For occasion, a coastal city of tourism improvement may mostly depend on coastal environment, seaside panorama, aquarium, sea and other maritime resources to carry out the globe. Logically talking vacationers in the coastal city of tourism ought to to belong to the scope of the maritime tourism, vacationer shelling out ought to to belong to the maritime tourism earnings, coastal metropolitan locations have entry to economic advantages ought to to also be attributed to maritime vacationer economic weather. Nevertheless, merely because of to the idea of maritime tourism economic weather is nevertheless in the cradle, in economic figures, it is generally journey as a vacationer economic weather, earnings figures, but it did not impartial the economic weather as a maritime tourism earnings figures. This is merely because the tourism economic weather with components of the maritime tourism economic weather, maritime tourism economic weather in the tourism economic weather of subsidiary specifications to skilled in the tourism economic weather mainly based on the additional development of maritime tourism economic weather can be talked about that a department of the vacationer economic weather, are component of the tourism economic weather .
As we all know, tourism is an economic business. Then the use of maritime resources and the improvement of maritime tourism ought to to also be an economic business. To market maritime-mainly based tourism and economic improvement of maritime economic weather, maritime tourism economic weather can be formed. See maritime tourism economic weather is to the maritime all-all-natural resources for tourism carried out an economic exercise.
As the maritime tourism economic weather is a department of tourism economic weather, maritime tourism economic weather ought to to be in the tourism economic weather on the basis of additional improvement. But China's tourism economic weather is an economic weather arrived close to, only twenty many years of track record, not very skilled, coupled with the statistical limitations of the information and related information, can be talked about that a department of tourism economic weather - maritime tourism economic weather also belongs to a prior area of study is not worried. A new idea of the acknowledged require time to study the new idea of information content materials materials, information require to accumulate. In the absence of detailed information and particular information on the situation, this can not be a detailed evaluation and verification of information to the maritime mom mother nature tourism economic weather and its economic advantages, just the view from the use of maritime resources, maritime economic weather and tourism to make unique the relationship in in between the economic weather and its commonality of the economic improvement of maritime tourism ideas.
History has proved that all the countries to create maritime economic weather may use nationwide energy ful, or else declining nationwide energy. All events, no exceptions. With the acceleration of globalization, the globe economic weather is a lot much more and a lot much more to the coastal kind with each and every other, China's economic weather has by no means been dependent on the sea, has by no means been on the sea have excellent anticipations. In accordance to the strategy, by 2010, China will steadily turn out to be a maritime energy, maritime industrial energy, sea salt making countries, energy and maritime tourism improvement of offshore oil and gasoline resources, energy, and ultimately turn out to be a maritime energy. As a result, to create maritime tourism business, not only of our individual industrial and economic improvement specifications, but also the typical trend of China's integration into the globe economic weather.
As we all know, the Mediterranean shoreline, Hawaii, Bali, Iceland is the globe-well-recognized sea resort, a large number of vacationers each and every and and each and every yr for the close by authorities to offer significant earnings. In existing many years, as China's fast economic improvement, increasing residing specifications, a lot much more and a lot much more individuals joined the ranks of outbound tourism. Related information show that China has turn out to be the biggest vacationer offer countries in Europe and The united states. The maritime tourism routes turn out to be citizens journey overseas the most essential choice, Singapore, Malaysia, Thailand, France, Britain, Italy, the United States, Canada, Iceland, Norway, Australia, New Zealand maritime vacationer place or area, is the Chinese citizens of the most essential vacationer place.
When individuals view Scenes competing exit when the wealthy tourism resources in China are also favored by foreigners, this type of as lively sea environment. China's eighteen,000 kilometers of shoreline, a lot much more than six,5 hundred islands and 300 million sq. kilometers of maritime territory, wealthy in maritime tourism resources. Which, for the improvement of numerous coastal points of interest of 1500, now component of the improvement of coastal improvement or human points of interest, coastal points of interest, points of interest and peculiar objects hill only 350 locations, which accounts for all the points of interest of 23.5% can be created . China's huge Central China Sea, the north Bohai Sea, Yellow Sea, East China Sea, east, south China Sea, coastal and island environment differs. Nicely-recognized seaside resort, the South China Sea with the beautiful Hainan Island (Sanya's most prestigious to be a couple of of), Hong Kong, Macao and Guangxi Beihai, the East China Sea Taiwan and Taiwan, and Xiamen, Zhoushan Islands, Bohai Bay, there skilled been Dalian, Qinhuangdao, Qingdao and Weihai. There are numerous a lot much more, are "saved in purdah who did not know," the maritime panorama.
Lately, South Korea utilized a number of insurance methods to inspire the improvement of maritime tourism, and with sports activities activities activities and cultural exchanges with each and every other. For occasion: 5 carry out thirty day period technique of gradual implementation of the total improvement of the West Coast, "Publish Globe Cup" of particular safety options. Discover from overseas experience, China is also in the improvement of island tourism duties can consist of sports activities activities activities and cultural components, consequently to improve the cultural content materials materials of maritime tourism, so vacationers can really feel "sports activities activities activities well becoming island" charm.
Tourism is an economic business. Then the use of maritime resources and the improvement of maritime tourism ought to to also be an economic business. To market maritime-mainly based tourism and economic improvement of maritime economic weather, maritime tourism economic weather can be formed. See maritime tourism economic weather is to the maritime all-all-natural resources for tourism carried out an economic exercise.travel blog
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US Sturmfeuerzeug Technik
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Technische Patentschriften rund um US Sturmfeuerzeuge.
US Sturmfeuerzeug Technik
The role and impact of ICT on economy growth
Title: The Role and Impact of ICT on Economy Growth
Name: KELLY WEE KHENG SOON
Faculty :FACULTY OF BUSINESS MANAGEMENT AND PROFESSIONAL STUDIES
University: MANAGEMENT AND SCIENCE UNIVERSITY (MSU)
TABLE OF CONTENTS
1.0 Introduction
2.0 Literature and theories
3.0 Role and Impact of ICT on Economy Growth
3.1 Role and Impact of ICT investment
3.2 Measurement of ICT contribution to economic growth
3.3 Policy implication boosting economic growth
4.0 Future Research
5.0 Conclusions
6.0 References
ABSTRACT
Use of information to the discretion of the prediction of economic growth driven by investments in the Information and Communication Technology(ICT). This paper discuss on the use of ICT that contributes to the economic growth and how it being measured. Prediction analysis resulting to empirical studies and research had been carried out between ICT and economic growth found there is both mixed results depending on the methodology of the research engaged and geographical landscape or situation that should be considered. The analysis of estimates reveal a significant impact on economic growth of investments in ICT towards specific region implies whereby countries seek to enhance their economic growth, they need to implement specific policies that facilitate investment in ICT. A proposed future research has been made in this paper that could help to ensure the role and impact of ICT to spur the economy growth with the continuing trend that is growing is also given.
1.0 Introduction
This research paper is to examine whether ICT role and impact to the economy growth. Though there is so many debate about whether it does help in the progress over the past decade on the increase in the impact of economy and the way people work, communicate and spend time across countries around the world, however, research will explain that in the past decade several methods have been used to analyze the impact of ICT on economy growth. Studies throughout 1990s showed that increasing investment in this field constantly resulted in emergence of positive relationship between economic growth and information technology. However, there is much research is needed due to the challenges to ensure how much ICT has contributed to economic growth to the country as well as the global levels. Study is needed to investigate the impact of ICT on economic growth on a global basis by examining all countries with significant expenditure on ICT over the past decade.
This study aims to investigate the relationship between economic growth and ICT in developed and developing countries as well. The methodology of "Measuring the contribution of ICT to economy growth and productivity" is based on original work by Solow (1957) and (Jorgenson and Griliches (1968)) and later extended by (Alia Oliner and Sichel (2000) ) and (Jorgenson and Stiroh (2000)). ICT can impact economic growth through four major channels referred to by (Jalava, Pohjola 2002): (i) Production of ICT goods and services, which directly contributes to the aggregate value added generated in an economy; (ii) Increase in productivity of production in ICT sector, which contributes to overall productivity in an economy Total Factor Productivity (TFP); (iii) Use of ICT capital as input in the production of other goods and services; (iv) Contribution to economy-wide TFP from increase in productivity in non-ICT producing sectors induced by the production and use of ICT (spillover effects). One of the example looking into Finland economic growth based on analysis by (Jalava, Pohjola 2005) that ICT is the source of output and also productivity growth to Finland thus impacting the improvement of the GDP and economic growth.
In developing countries, SMEs industries are challenged by the globalization of production and shift in the importance of the various determinants to competitiveness. By spreading the information and communication technologies (ICT) complement with the ever decreasing prices for communication, markets in different parts of the world become more integrated. The influence of ICT has led many comment on the argument that these technologies are creating a new economy in which information is the most critical resources that provides competitive advantages in all sectors such as manufacturing and even more in the services sectors. From performance perspective, the competitiveness effect of ICT is derives from the impact that ICTs have upon the productivity of the factor inputs. ICT can improve the efficiency and increase productivity by separate ways including, improving efficiency in resource allocation, reducing transaction costs and technical improvement that leads to the shift of the production functions. Referring to Moodley (2002) conducted an in-depth quantitative and qualitative analysis of the use of B2B e-commerce by manufacturing firms in South Africa and his study is based on 120 firm level interviews and 31 interviews with industry experts. The evidence indicates that the incidence of use is fairly low. From the analysis, 87% of the firms had access to the Internet, only 49% of the firms had a corporate website and only 22% was using the Internet for order taking. The findings enables him to come to a conclusion that e-commerce is not yet an important strategic objective for most South African firms.
Hoon (2003) explored the impact of ICT investment on economic growth using a cross-country analysis based on data from 56 developing countries for the years 1970–1998 and found that ICT positively contributes to economic growth in the developing world. While van Ark and Piatkowski (2004) analyzed IT investment patterns and their impact on economic performance in two sets of countries regarded as being at different levels of economic development: the 15 countries of the European Union (‘‘old'' Europe) and 10 Central European economies under accession (‘‘new'' Europe). They had come to a conclusion that there is a trend moving into the convergence of investment in IT between ‘‘old'' and ‘‘new'' Europe. Investment in IT capital was also found to be the vital factor affecting productivity growth in both sets of countries. There is studies made from this developed world with a strong evidence of a strong positive correlation between IT and economic performance, IT-induced changes in workforce composition in favor of highly skilled or educated workers and organizational changes that allow firms to implement IT more effectively and efficiently. Using the new data from after 1995, Jorgenson and Vu (2005) found that the contribution of ICT capital to world GDP had more than doubled and now accounts for 0.53 per cent of the world average GDP growth of3.45 per cent. The percentage was higher for the group of G7 countries, where ICT investments contributed with 0.69 per cent to a GDP growth of 2.56 per cent during 1995–2003.
Therefore, this research paper intends to discuss and find out more about what and how the roles of ICT plays a major part to contributes and have an impact on the economics performance and growth across globally.
2.0 Literature and Theories
Literature review by Avgerou (2001) stated that ICT is a necessity for taking part in today's global economy and as such the role of ICT in the emerging global market cannot be over-emphasised. ICT has the potential to integrate the whole world economies in other words demolishing the barriers created by time and distance. It will ease the trade in goods and services and encouraging investment by the creation of new sectors of enterprises, new revenue streams and new jobs. Meng & Li (2002) maintain that the role of the ICT industry in developing countries is far from clear as developing countries are still short of capital investment and knowledge, thus they will lag behind in ICT-industry development and diffusion in comparison to the industrialized nations. This late adoption of ICT might translate into a competitive advantage for the developing countries since they to learn from the experience of the developed countries while adopting the latest generation technologies. However, they will benefit from not incurring the learning and experimentation cost that typically characterised the adoption of new technologies by the early adopters referred by (Wong, 2002).
Early macro level studies, going back to late 1980s and early 1990s, indicated that ICT's share in productivity and economic growth was very small (Roach, 1987, 1989, 1991; Oliner and Sichel, 1994; Jorgenson and Stiroh, 1995). Macro-economic studies showed that investments in ICT had a considerable effect on the productivity of labor force and economic growth as well (Jorgenson,2001, Oliner and Sichel, 2004, Jorgenson and Stiroh, 2000). Gordon (2000) attributed that productivity growth of the 1995-2000 period to business cycles, whereas Stiroh (2001) and some others show that business cycles had little Influence on productivity growth during those years. Results sometimes diverge due to different methodologies employed. For example, Jorgenson and Stiroh (1995, 2000), 47 Jorgenson (2000), and also Oliner and Sichel (1994, 2000) use a "growth accounting framework" in which they separate ICT capital from non-IT capital, and focus mainly on business cycles. Mankiw, Romer, and Weil (1992) using data from 42 developing and 24 high income developed countries over the period of 1985-1999 and also Pohjola (2001) using Panel Data Modeling, found that ICT/GDP effect on growth in these countries was meaningful and positive in high income countries, positive but not meaningful in developing countries.
Sotiris and Papaioannou (2004) explored the effects of ICT on productivity and economic growth in both developing and developed countries over the time period of 1993-2001, using a "production function" framework and foreign direct investment (FDI) as a proxy for ICT and concluded that FDI has a positive and meaningful effect on productivity and economic growth and that the effect was greater in developing countries, and positive but not meaningful when all the courtiers were lumped together. Pohjola (2001) drawing data from more than 36 countries over different continents concluded that in more prosperous and industrial countries, there was a highly positive and meaningful relationship between ICT and economic growth, but there was no evidence of such a relationship in developing countries. Dewan and Kraemer (2000) suggest that the gap is due to low levels of IT investment in developing countries and also a lack of complementary assets such as knowledge-based structures for developing the use of IT goods.The impact of ICT on economic growth and development, however, attracted the attention of researchers. Studies had been conducted as well in Taiwan by (Wang, 1999), China (Meng & Li, 2002), United States (US), the Organisation for Economic Cooperation and Development (OECD) countries (Colecchia & Schreyer, 2002), Britain (Dolton & Makepeace, 2004) and the Asian region Jussawalla, 1999) is done to determine the role played by the ICT sector on economic growth.
3.0 Role and Impact of ICT on economy growth
It may be too early to tell how the role of ICT in growth and productivity performance will develop in the first decade of the 21st century. However, initial assumption was that ICT will continue to be a driver of economic growth. When the world entered a new era from half of the 20th century, introducing computers to the market and combining with the field of information and communications, computers linked to the telephone and television – and "ICT" revolution occurred. The ICT has some effects on different economic variables. In fact ICT will influence both supply and demand side of the consumer's economic behavior through utility function and from supply perspective on producer's behavior through production functionality that will be affected. ICT together with other infrastructure components will result in capital deepening, re-organization of economic processes thus increasing the economic growth and productivity factors in developing countries. Looking thru developing countries, there is not enough competitive space and the majority of market is under the government control, therefore, ICT effects on economic growth and productivity is observed. This research paper focuses on three areas: (a) the role and impact of ICT investment on the efficiency of economic growth; (b) measuring the contribution of ICT investment to economy growth and analyzing the variation of the ICT contribution across countries; (c) policy implications related to each country's efforts to encourage investment in ICT towards boosting the growth of economy.
Economic growth is the increasing ability of the nation or countries to produce good and service quoted by Miles (2001). The function of ICT enabling products or goods of services to be produced within a shorter period of time with all the computerised system. It improves efficiency in delivering services rapidly. With the evolution of ICT with best technology and management practice coupled with the increasing use of labor, land, capital and resources available, ICT is perceived to contributes to the impact of economy growth, thus resulting in development of countries growth by technology. ICT are becoming major factor for economic growth. By enabling "virtual mobility", ICT provide the means to undertake many of the activities that have so far needed physical transport quote by (Lake, 2004). Use of email , e-commerce and online transaction for banking or any other activities had tremendously reduce the amount of time for transportation, hence, saves money. According to Lake (2004), increasing use of information and communication technologies (ICT) is changing with nature on the the use of virtual mobility that distance appears less important, but insists that mobility connection should remains.
Prior to showing the result of ICT impacting economy growth, this research paper will examines some of the past data studies done. In order to measure economic growth, metrics used are the GDP (Gross Domestic Product) which determines the value of output produced within a country during a time period and the GNP (Gross National Product) which also identifies the value of output produced within a country plus net property income from abroad (Bized, 2004).
Example of Countries where ICT had impacted on economic growth over period of time
Description
Year
Countries
Australia
Canada
Finland
France
Germany
Italy
Japan
USA
UK
Contribution of ICT
90-95
0.48
0.30
0.24
0.18
0.30
0.21
0.31
0.27
0.43
96-99
0.66
0.51
0.62
0.33
0.35
0.36
0.38
0.47
0.88
Real Output Growth
90-95
3.37
1.79
-0.70
0.97
2.22
1.44
1.33
2.12
2.64
96-99
4.72
4.09
5.62
2.60
1.73
1.93
1.10
3.48
4.43
A study by Coleccia and Schreyer (2001) cited by Kanamori et al (2004) provided the results below on the contribution of ICT to economic growth.
Fig 1: Results from Past Studies
Source: Coleccia and Schreyer (2001) cited by Kanamori et al (2004)
From the data analysis from past results on the studies done by Coleccia and Schreyer (2001), what conclusion we can make is that for example countries like USA, between 1990-1995 with the contribution of ICT at 0.27 percentage point of economic growth, the real output growth at the period of time is showing 2.12, but in comparison to year 1996-1999 period the contribution of ICT is at 0.47 percentage point of economic growth, the real output growth at the period of time is showing 3.48. There is significant improvement in the increased of Real Output Growth thru the drive of contribution on ICT. Thus, this explained how ICT can impact on the economy growth.
There is another study made on how the ICT contribution to the real output growth of a post communist county, Poland by Piatkowski (2003). In Poland, ICT investment contributed on average 0.47 of a percentage point or 8.9% of GDP growth and 12.7% or 0.65 of a percentage point contribution to labour productivity between 1995-2000. In the year 2001, Poland had grown their economy in comparison lower and middle income nations, in terms of ICT spending per GDP
This paper will also work on analysis to confirm and reaffirms the findings on policy implication of IT investment to boost the economy growth. The main policy conclusions that can be drawn are:
1. Strengthening competition in ICT goods and services:Competition in ICT goods and services requires attention, as continued technological change is creating new challenges to competition in many markets.
2. Improvement on business environment: This includes having an environment that provides access to finance, allows firms to change the organisation of functions and tasks, helps workers acquire the skills they need in a rapidly changing global environment, and promotes good management practices. Rigid regulations of product and labour markets that impede re-organisation or competition between firms also need to be addressed. The experience of countries such as Australia shows that structural reform is key in harnessing the new dynamism that is associated with ICT. Firm creation also needs to be fostered. Experimentation and competition are key in selecting those firms that seize the benefits of ICT and in making them flourish and grow. In the current time of rapid technological change, greater scope for experimentation may enable new ideas and innovation to emerge more rapidly, leading to faster technology diffusion. Barriers to the entry, exit and growth of firms therefore need to be addressed whereas competition needs to be strengthened. Competition not only helps lower the costs of ICT products and services, which fosters diffusion, it also strengthens pressures on firms to improve performance and change conservative attitudes.
3. Security and trust: Concerns on security, privacy and authentication continue to affect the uptake and use of ICT and should remain a priority for policy.
4. Barriers to the effective use of ICT in services:Sector-specific regulations reduce the development of new ICT applications and limit the capability of firms to seize the benefits of ICT. Further reform of regulatory structures is needed to promote competition and innovation, and to reduce barriers and administrative rules for new entrants and start-ups.
5. Innovation:ICT is closely linked to the ability of firms to innovate, i.e. introduce new products, services, business processes, and applications. Firms that have already innovated achieve much better results from ICT than those that have never innovated. Policies to harness the potential of innovation are thus of great importance in seizing the benefits of ICT. To strengthen innovation, policy needs to give greater priority to fundamental research, improve the effectiveness of public R&D funding and promote the flow of knowledge between science and industry.
4.0 Future research
In the recent development, research on the impact of ICT on economic growth have so far focused on their results on the statistics that dated between 1990 and 2000. No research has so far been done from the year 2000 to 2010 (recently) to justify the link between the contribution of ICT in economic growth and the real output growth for that period as what was done from the period of 1990 - 2000. Although the assumption is that the trend is still continuing (Cette et al, 2004), it would be essential to identify the changes in statistics that have taken place from the early 2000 to the current year.
We also foresee that the use of broadband and recent developments in mobile telephony and for the new businesses thru cloud computing recently being a hype to the business world have made business processes so much easier, thus, this signifies that ICT investments might be catching up with the needs and demands of the ever changing business environment to retain the trend of profits that is associated with them. It is also vital for us to do comparative analysis that would help identifying why the reasons for the difference in ICT contribution to economic growth, amongst developed and developing nations. This would assist developing and slow moving nations in pin pointing areas for concern and improvements to catch-up with the developed nations.
Future research should mainly focus on more of data collection in order to do measurement analysis from developed and developing countries over every period of time constantly such every 5 year period to recent as with the evolution of ICT how does that it really gives a major impact to the real output growth (GDP) on this nations. This enables us to make even in-depth research about the role ICT contributes to the economy with the actual data that had been collected.
5.0 Conclusions
Main conclusion prior to this study is that there is positive impact of ICT on economic growth and performances of already developed countries as compared to developing countries. Due to the huge contribution of the use of ICT in economic growth, we can conclude that businesses play a major role in ensuring the usage of sufficient technology to ensure their processes faster, cost effective and increases their production levels. It is equally important for businesses to know that an increased in productivity could only be achieved if fuelled by steady and rapid improvements in ICT performance referred by (Cette et al, 2004). Large impact of ICT capital is due to an extraordinary acceleration in ICT investments between 1990-2000 induced by a combination of rapid falling prices of ICT products and services complement with the large demand for ICT fuelled by high economic growth in the 1990's and substantial pent-up demand due to infrastructure under investment in ICT.
ICT is the key driver to the economic growth, there is no doubt, therefore, major nations government takes a major role in promoting the benefits associated with the use of ICT, but it is imperative to set up some independent bodies that would be actively involved in monitoring, giving feedback and develop improvement on ICT performance in the economy. ICT had been proven to consumers and business to reduce transportation costs and all this can be achieved through regular technical optimization with the prime quest for speed, security and multifunction complete with a dynamic management with strong development focuses. Flexibility in international trade and laws is crucial factors in ensuring that businesses are able to import ICT goods of their choice and specification, from different parts of the world. The adoption of ICT and the consequent increased productivity and economic growth induced by it has been described as the dawn of the new economy. The astounding high rate of productivity in the US for example, which occurred at the same as well with the rapid diffusion and production of ICT directly led to the term new economy. In a broader sense the term would describe everything that is recent and new in the economy. It would imply that old economic rules like the limits of maximum production capacity and the traditional trade-off between inflation and employment would be invalid as a result of efficiency arising from the adoption of ICT. The major driving force of this new economy has been described as ICT (van Ark, 2002; Meng & Li, 2002). There is more research and development in ICT that must be encouraged and measured against the needs and demands of the market. Governments should invest in the creation of ICT industries, and in the diffusion of ICT products and services referred by Smith (2002).
Prior to all the studies and fact findings by most of the researchers with all the data collection analysis, I truly believe that there is definitive reason to conclude that with ICT in most of the industries across developed countries, it will thus impact on the economic growth, however, in developing countries it showing the positive significant result on how ICT has an impact to the economy.
6.0 References
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[Accessed: 17 February 2011].
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the United States a Unique Case? A Comparative Study of Nine OECD Countries.
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6. Jorgenson, Dale w. and Stiroh, Kevin j., 1999. Information technology and growth" American Economic Review. 89(2) pp 109-15.
7. Jussawalla M. 1999. The impact of ICT convergence on development in the Asian
region. Telecommunications Policy. Volume 23, Issues 3-4, April 1999, Pages 217-234.
8. Mankiw N. Gregory, David Romer, and David N. Weil., 1992. A contribution to the empirics of economic growth, Quarterly Journal of Economics, 1072:407-437.
9. Meng Q. & Li M. 2002. New Economy and ICT development in China. Information
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Kelly Wee Kheng Soon
Management & Science University (MSU)
(Malaysia)
Email : kellyweekhengsoon@gmail.com
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