The economic governance for crisis prevention - Free Essay Example

Sample details Pages: 22 Words: 6602 Downloads: 8 Date added: 2017/06/26 Category Statistics Essay Did you like this example? TABLE OF CONTENT Pages Don’t waste time! Our writers will create an original "The economic governance for crisis prevention" essay for you Create order 1.0 Introduction 2.0 Background 3.0 Statement of the Problem 3 4.0 Research Questions 4 5.0 Research Objectives 4 6.0 Significance of the Study 5 7.0 Literature Review 5 7.1 Definition and indicators of governance 6 7.1.1 Broad definition of governance 7.1.2 Governance from economic perspective 7.2 Governance relationship with development and growth 6 7 11 7.3 Governance link to crisis and roles in recovery process 13 7.4 Governance roles in crisis prevention 16 8.0 Overview on the Study of Governance 17 8.1 Development of the study of governance 17 8.2 Scope and limitation of the concept of governance 18 9.0 Methodology 20 9.1 Case Study Analysis 20 9.2 Index for Economic Governance Quality 21 9.3 Analysis of Causal and Dynamic relationship to growth 23 References 25 1.0 INTRODUCTION The proposed research attempts to identify the critical components of economic governance in four Asian countries namely Malaysia, South Korea, Thailand and Indonesia. The study by employing in-depth case study analysis seeks to analyze the economic governance practices in these countries and its relationship to their economic growths. The study then attempts to investigate the links between economic governance and the Asian financial crisis in 1997, and the roles the economic governance could have played in the recovery process since the above countries had somehow recovered at somewhat different speed. Based on the identified components of economic governance considered imperative for sustainable and resilient economy, the study will develop an index namely Economic Governance Quality Index capturing the score of governance parameters by the countries during the booms and slumps of their economies throughout the period under study. Finally, the components of economic governance wil l be employed in panel data analysis to empirically determine their significance towards economic growth. Its findings then will be of significance in crisis prediction and prevention methods in which the identified key governance parameters are the core ingredients. 2.0 BACKGROUND à ¢Ã¢â€š ¬Ã…“Good governance is perhaps the single most important factor in eradicating poverty and promoting development.à ¢Ã¢â€š ¬? Kofi Annan, former Secretary General of the United Nations. The concept of governance has assumed a more central focus and been given key attention not only by the officials from the United Nations Development Program, the World Bank and the International Monetary Funds, but also from the policymakers in especially developing countries, aidà ¢Ã¢â€š ¬Ã¢â€ž ¢s donors, and regional organizations of economic cooperation as well as academics fraternity. Since the beginning of 1990s, there is a strong indication of growing emphasis that à ¢Ã¢â€š ¬Ã…“good governance,à ¢Ã¢â€š ¬? together with democracy and protection of basic human rights, is indispensable for sustainable economic growth. Economic development cannot be achieved without the development of good governance, which is composed of competence and honesty, public accountability, and broader participation in discussion and decision making on central issues. In addition to traditional view of governance which is on the public governance, there is also a notable increase in the endeavors t o grasp the concept of governance in a multi-dimensional perspective which includes economic governance. The relationship between governance and development is thus studied from diverse angles, especially in the vein of economic transformation, macroeconomic management and prevention of crisis as well as structural reforms. The Asian financial crisis in 1997 had somehow exposed the vulnerability of the once high-performing countries in the region, whose lack of governance practices was said as the main cause of the severe affects. 3.0 STATEMENT OF THE PROBLEM The Asian economies success was once dubbed the à ¢Ã¢â€š ¬Ã…“Asian Miracle,à ¢Ã¢â€š ¬? and a model to be emulated by other developing countries seeking higher growth. The success had introduced a growth model with emphasis on policies of setting the prices right, liberalizing the economy and the private sector as the engine of growth. When financial crisis struck the Asian countries in 1997, and looking at the devastating effects the countries in the region had experienced following the malaise, many however started to raise questions whether the quality of governance practices in these countries had somehow contributed to the crisis. Furthermore, the fact that South Korea and Malaysia had somehow recovered rapidly from the crisis compared to Indonesia and Thailand has sparked off interests on what roles good governance could have played in the recovery process. Hence, good governance has become a topic widely studied in the aftermath of the crisis. The discussions center on two main perspectives; firstly, the absence of good governance has been perceived as a MAJOR CAUSE of the crisis, and secondly, an inference is made that good governance is IMPERATIVE for durable and resilient economy. This study hence sets out to empirically identify and ascertain the governance parameters and their significance towards crisis prevention. Since the study focuses on economic governance, and to avoid constant repetition, the word à ¢Ã¢â€š ¬Ã…“governanceà ¢Ã¢â€š ¬? used in this proposal should be taken in the context of economic point of view, unless explicit reference to other perspective of governance is relevant. 4.0 RESEARCH QUESTIONS This study will attempt to answer the following questions: What are the economic governance parameters presumed as crucially importance for sustainable and resilient economy? How to capture the score of economic governance practices in the East Asian countries during the period under study? How would the significance of governance parameters be empirically ascertained for the purpose of crisis prediction and prevention? 5.0 RESEARCH OBJECTIVES The study hypothesized that good governance is imperative for sustainable and resilient economy, and the absence of such would result in increased vulnerability of the economy towards declining into crisis. Therefore, the objectives of the study are: To identify the parameters of economic governance crucial for resilient and sustainable economy. To develop an index of Economic Governance Quality capturing the score of economic governance practices by the East Asian countries during the period under study. To empirically ascertain the significance of economic governance parameters towards growth via a dynamic estimation model whose findings then would be of importance for crisis prediction and prevention. 6.0 SIGNIFICANCE OF THE STUDY It would be interesting to investigate what makes good governance and how do they link to economic growth in the four selected Asian countries. Furthermore, it would be crucially important to examine, from the governance perspective, how could the countries once considered by many as the fastest growing economies in the region were severely affected by the Asian crisis in 1997. Notwithstanding that, the fact that South Korea and Malaysia had made a more swift recovery than the other affected countries, it would therefore be interesting to analyze how the governance practices in the different countries facilitated the recovery process. The findings from this study are expected to provide a significant contribution to the existing governance literatures especially from the economic perspective since it attempts to discover the critical components of economic governance that are imperative for sustainable and resilient economy. Policy makers not only from the countries under study but also from other developing countries may utilize the findings of the study to evaluate their economic governance practices and be able therefore to make necessary adjustments and required changes with the objectives of registering better growth and strengthening the economy against any possibility of future crisis. The researchers from world organizations and academic community may also be interested with the findings since the study attempts to develop a new feasible dynamic estimation model to analyze the relationship between the components of economic governance and growth, of which they could use as a basis for their future research undertaking in the similar field. In addition, the findings could also stimulate and facilitate them to search for additional approaches to counter or justify the results of this study. 7.0 LITERATURE REVIEW Good governance has become a topic widely debated by academicians and economic communities especially in the aftermath of the Asian financial crisis in 1997. The discussions in this context center on two main perspectives; first, the absence of good governance has been perceived as a major cause of the crisis, and the second prognosis is drawn by inference, namely, that good governance is imperative for durable development (Lam, 2003). Therefore, to have a better understanding of the governance, this section discusses definitions and indicators of the governance, its relationship with the economic growth, how it links to the crisis and its roles in the recovery process, and finally how could these governance factors be used for crisis prevention. 7.1 Definitions and indicators of governance Definitions and indicators of governance can be found in numerous literatures. A top-down approach is best used to understand the concept of governance, where a general or broad definition of governance will be firstly explored before moving on to a more specific definition. The World Bank continuously updates key governance indicators in its regular publication of à ¢Ã¢â€š ¬Ã…“Governance Matters,à ¢Ã¢â€š ¬? a governance study encompassing many aspects like political, social, economic, legal and moral. Meanwhile, the International Monetary Funds (IMF) has been doing a great deal of works in an effort to promote governance in the financial sector management through Financial Sector Assessment Programs (FSAPs) which include regulatory, risk management and aid management. 7.1.1 Broad definition of governance From the viewpoint of United Nations Development Program (1997), the definition of governance is à ¢Ã¢â€š ¬Ã…“the exercise of economic, political administrative authority to manage a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s affairs at all levels. It comprises mechanisms, processes and institutions, through which citizens and groups articulate their interests, exercise their legal rights, meet their obligation and mediate their differences.à ¢Ã¢â€š ¬? Good governance is, among other things, participatory, transparent and accountable, effective and equitable, and it promotes the rule of law. It ensures that political, social and economic priorities are based on broad consensus in society and that the voices of the poorest and the most vulnerable are heard in decision-making over the allocation of development resources (Abdellatif, 2003). In its report, Governance and Sustainable Human Development in 1997, the UNDP acknowledges the following as core characteristics of good governance, i.e. participation, rule of law, transparency, responsiveness, consensus orientation, equity, effectiveness and efficiency, accountability, and strategic vision. A report by the World Bank (2006) entitled à ¢Ã¢â€š ¬Ã…“Governance Matters Và ¢Ã¢â€š ¬? covering 213 countries and territories since 1996 until 2005, presented the latest version of the worldwide governance indicators, namely voice and accountability, political stability and absence of violence, government effectiveness, regulatory quality, rule of law, and control of corruption. Meanwhile, Inada (2003) discussed the governance in Indonesia where the word à ¢Ã¢â€š ¬Ã…“governanceà ¢Ã¢â€š ¬? is translated as à ¢Ã¢â€š ¬Ã…“Tata Pemerintahan.à ¢Ã¢â€š ¬? It however has different meanings covering different agendas from political systems to corporate governance. They includes political democratization, reorganization of police and the military, curing the problems of corruption, collusion, and nepotism (KKN), justice reform system, decentralization, financial management, corporate governance, and state-owned enterprise reforms. Shimomura (2003) in his case study of governance in Thailand adopted pluralist democracy, accountability, transparency, predictability, and openness in the manner of exercising power, rule of law, effective and efficient public sector management, prevention of corruption, and prevention of excessive military expenditures as the standard definition of good governance. 7.1.2 Governance from economic perspective According to Dixit (2006), economic governance consists of the processes that support economic activities and economic transactions by protecting property rights, enforcing contracts, and taking collective actions to provide appropriate physical and organizational infrastructure. These processes are carried out within institutions, formal and informal. He described that the field of economic governance studies and compares the performance of different institutions under different conditions, the evolution of these institutions, and the transitions from one set of institution to another. Meanwhile, Huther Shah (1998), Gonzalez Mendoza (2001) and Mahani (2003) defined governance as a multi-faceted concept, encompassing all aspects of the exercise of authority through both formal and informal institutions in the management of resources. In other words, governance is: à ¢Ã¢â€š ¬Ã…“An exercise of economic power in the management of resource endowment of a country done through mechanisms, processes, and institutions through which citizens and groups can articulate their interest, exercise legal rights, meet their obligations and mediate their differences.à ¢Ã¢â€š ¬? According to Mahani (2003), indicators of economic governance are: Macroeconomic management à ¢Ã¢â€š ¬Ã¢â‚¬Å" fiscal management, level of government debt, unemployment and inflation. Investment à ¢Ã¢â€š ¬Ã¢â‚¬Å" size and trend of foreign and domestic investments, capital flows and allocation of resources. Trade regime à ¢Ã¢â€š ¬Ã¢â‚¬Å" trade orientation, export and import performance and balance of payment position. Financial sector management à ¢Ã¢â€š ¬Ã¢â‚¬Å" the banking sector and capital market. Exchange rate regime. Private sector participation à ¢Ã¢â€š ¬Ã¢â‚¬Å" privatization and corporate governance. Social development à ¢Ã¢â€š ¬Ã¢â‚¬Å" income distribution and level of poverty. Lanyi Lee (1999) studied on various aspects of à ¢Ã¢â€š ¬Ã…“economic governance,à ¢Ã¢â€š ¬? that is, the way in which economic life is governed and regulated à ¢Ã¢â€š ¬Ã¢â‚¬Å" which does not mean solely governance by the government. They first discussed the political basis of economic governance which is in their view crucial for the way in which different aspects of economic governance operate. The other aspects include the governance of macroeconomic policy making, and the interrelated issues of financial and corporate governance. From political perspective, they argued that economic governance in a market economy consists partly of direct control or indirect influence exerted by the government and of governance exercised within markets themselves on the other part; but even self-governance by markets operates within the legal, judicial and regulatory framework that has been erected and is supported by the government. The optimum role of government in this context is à ¢Ã¢â€š ¬Ã…“market-augmenting government.à ¢Ã¢â€š ¬? Furthermore, they defined macroeconomic governance as the political and administrative processes by which macroeconomic policies are formulated, implemented, and evaluated. They argued that technically the same policies can be carried out with equal effectiveness by either an autocratic or a democratic government. An autocratic government, if supported by well-trained technocrats, is likely to come up with first-class macroeconomic governance. Nevertheless, there may be factors that over time lead to deterioration in the quality of these policies in an autocratic government, as well as problems in the ability of such governments to adjust policies in response to changes in economic circumstances. The working definition of governance used for financial and corporate governance depends on the key distinction between principals and agents. In this context, they defined governance as the legal and institutional arrangements governing the behavior of an economic entity, by which owners, creditors, markets and the government compel or induce agents to behave according to the interests of the principals, or those of the broader society. In this regard, two key elements of governance are discussed. First, there is the structure of incentives and rules facing agents with regard to such matters as granting and terminating lending, bankruptcy, the rights of boards of directors, compensation structure, and the termination of employment. Second, there is the structure of the information flow from agents to principals, that is, the rules and incentives affecting accountability, transparency and disclosure of information. In both cases, the government plays a key role in setting the rules by which private actors operate. Meanwhile, Das Quintyn (2002) in their study on the role of regulatory governance in crisis prevention and crisis management have identified four main components of the regulatory governance practices, namely independence, accountability, transparency and integrity. The study explored the quality of regulatory governance based on the financial system evaluations under the Financial Sector Assessment Programs (FSAPs). Introduced in May 1999, FSAPs is a joint effort by the IMF and World Bank aims to increase the effectiveness of efforts to promote the soundness of financial systems in member countries. Supported by experts from a range of national agencies and standard-setting bodies, works under the program seek to identify the strengths and vulnerabilities of a countrys financial system; to determine how key sources of risk are being managed; to ascertain the sectorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ developmental and technical assistance needs; and to help prioritize policy responses (IMF the World Bank, 2005). Regulatory governance applies to those institutions that possess legal powers to regulate, supervise and/or intervene in the financial sector, which include agencies like central bank, sectoral regulators and supervisors, deposit insurance agencies, and in systemic crisis situations, restructuring agencies and asset management companies. Regulatory agencies need a fair degree of independence from the political sphere and from the supervised entities to achieve good regulatory governance. Agency independence increases the possibility of making credible policy commitments and improves transparency and stability of the output. Independence goes hand in hand with accountability. Accountability is essential for the agency to justify its action against the background of the mandate given to it. Independent agents should be accountable not only to those who delegated the responsibility à ¢Ã¢â€š ¬Ã¢â‚¬Å" the government or legislature à ¢Ã¢â€š ¬Ã¢â‚¬Å" but also to the public who fall under their functional realm. Transparency in monetary and financial policies refers to an environment in which objectives, frameworks, decisions, and their rationale, data and other information, as well as terms of accountability, are provided to the public in a comprehensive, accessible, and timely manner. Global integration of financial markets and products require greater degree of transparency in monetary and financial policies, and in regulatory regimes and processes, as a means of containing market uncertainty. Increased transparency supports accountability, protect the independence and eventually increase commitment to prudent behavior and risk control in the financial business. The final component of regulatory governance is integrity which reflects the mechanisms that ensure that staff of the agencies can pursue institutional goals of good regulatory governance without compromising them due to their own behavior, or self-interest. Independence, accountability, transparency and integrity interact and reinforce each other. Independence and accountability represent two sides of the same coin, while transparency is a vehicle for safeguarding independence and key instrument to make accountability work. Transparency also helps to establish and safeguard integrity. 7.2 Governance relationship with development and growth Economic governance is often studied through its role in the promotion of growth. This is done by setting policies, incentives and institutions that create an environment conducive to sustained stable growth through efficient management of a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s resources. It means managing a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s resources in a way that is accountable to, and representative of, the community; transparent, that is, open and predictable; and efficient and equitable in terms of the use, and distribution of, resources. Hence, good and effective governance requires government policies that encourage and efficiently manage investment and economic growth, support a fair and efficient public sector, strengthen the rule of law, protect human rights, and foster public participation and representation in decision making. Among the many studies that have examined the economic governance and growth nexus is such as that of Barro (1997). He studied the concept of growth based on the conditional convergence hypothesis which centers on the speed of economic growth in a country towards its steady-state level. He had empirically identified that more schooling, better health, lower fertility rate, less government consumption relative to GDP, greater adherence to uncorrupted rule of law, improvements in terms of trade changes, and lower inflation all go hand-in-hand with faster economic growth. Furthermore, he also explored on the interplay between economic and political development, and found that there is nonlinear relationship between democracy and growth. According to his findings, in countries with low levels of political freedom, a marginal increase in political freedom is associated with an acceleration in growth. However, at high levels of political freedom, a marginal increase in political freedom is associated with a slowing in growth. Huther Shah (1998) also studied the relationship between governance and growth and found that countries that practiced good governance have also enjoyed high growth. They developed a governance index featuring four sub-indices, i.e. citizen participation index (CP), government orientation index (GO), social development index (SD) and economic management index (EM) and each of the sub-indices has several components. For the Economic Management index, its components are outward orientation, central bank interdependence, and debt-to-GDP ratio which were used to assess trade policy, monetary policy and fiscal policy respectively. Gonzalez Mendoza (2001) argued that Southeast Asia provides ample evidence that there is a remarkable connection between administrative guidance and economic upturn. They compared the average growth rate of national output during the last decade against the quality of country governance and found that the high-performing economies à ¢Ã¢â€š ¬Ã¢â‚¬Å" Singapore and Malaysia à ¢Ã¢â€š ¬Ã¢â‚¬Å" have the edge in public management. Those left behind, such as the Philippines and Indonesia, have poor management structures. A study by Inada (2003) on Indonesia governance showed the importance of political stability and effective economic management as key elements for sustainable economic development among many governance factors. Bordo (2007) provides a good qualitative analysis on the possible determinant of emerging market crises from the perspective of balance sheet approach, which then put at center stage the importance of financial development. Though he never mention the word à ¢Ã¢â€š ¬Ã…“governanceà ¢Ã¢â€š ¬? itself, he outlines the deep institutional determinants of financial development à ¢Ã¢â€š ¬Ã¢â‚¬Å" including the governance parameters such as the rule of law, protection of property rights, political stability, and representative democracy à ¢Ã¢â€š ¬Ã¢â‚¬Å" towards achieving financial stability. He further conjectures about the ways countries learn from their financial crises to improve their institutions and grow up to financial stability. 7.3 Governance link to crisis and roles in recovery process Lanyi Lee (1999) presented a strong case that governance issues were important in the East Asian crisis. They hypothesized that transparency and accountability in macroeconomic policymaking, in the operation of the financial system, and in corporate governance do serve to lessen a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s vulnerability to financial crises and to strengthen the ability to deal with crises when they occur. They also hypothesized that a democratic political system, in which leaders are held accountable to their electorate by both direct election of the executive and an elected legislature à ¢Ã¢â€š ¬Ã¢â‚¬Å" as well as by an independent judiciary and a free press and civil society à ¢Ã¢â€š ¬Ã¢â‚¬Å" is less likely to collapse in the face of economic and financial difficulties than is a country run by an autocratic government, which imposes severe restraints on the public expression of opinion and dissemination of information. On the political basis of economic governance, they have suggested a hypothesis regarding the kind of political regimes likely to produce an effective, growth-enhancing, market-augmenting government. It is the type of political regime that is especially effective in the early stages of economic development may be less suited to fostering the creation of a full-fledged, sophisticated market economy at a later stage. They argued that there certainly seems to be some indications of this in the Asian experience, where authoritarian regimes fostered rapid growth when these economies were at relatively low income levels, but seems to be evolving toward more democratic models to deal with demands for greater market autonomy. They however suggested that even if a case can be made for the desirability of democratization as a market economy becomes more sophisticated, the varied historical examples warrant the need to find out more about the conditions under which either an autocratic or a democratic government can be market-augmenting, or not. They further highlighted that it would be useful to find historical examples of, and develop plausible scenarios for, the transition from discretionary (an autocratic government) to armà ¢Ã¢â€š ¬Ã¢â€ž ¢s-length (a democratic government) approaches to state economic governance, and to define the most effective ways in which the international community might assist with this transition. Furthermore, they believed that empirical work on macroeconomic governance would need to tap into the huge literature on macroeconomic policies and their effect, and link existing work with variables that reveal the quality of governance. Unfortunately, such variables are hard to quantify; but perhaps a classification of regimes together with a classification of the way macroeconomic policy is organized, could yield ways of exploring the relationships between the political and administrative variables, on the one hand, and the more familiar economic variables on the other. In other words, it would be interesting to look how the macroeconomic policies are formulated, implemented and evaluated through the governance perspective, to understand whether adherence to, or lack of, the governance practices could influence the outcome of the macroeconomic policies, as well as to determine conditions that would lead to good quality policies which would eventually identify the appropriate type of market-augmenting government as the market economy progresses. Besides, they also made preliminary attempts to trace the relationship between empirical indicators of financial and corporate governance with some governance variables that have been developed by others. They however suggested that one needs to look more carefully, perhaps through case studies, at the realities of financial and corporate governance in particular cases and the linkage between indicators of these types of financial and corporate governance with the more carefully articulated classification of political regimes. Specifically with regard to the adjustment of most severely affected countries to the Asian crisis, they suggested that it would be interesting to examine the reasons why recovery in Korea has been more rapid than in the Indonesia and Thailand. Similarly, it would also be interesting to investigate Malaysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s speedy recovery from the crisis even though the country did not subscribe to the IMF recovery prescriptions. Mahani (2003) highlighted that after the rapid recovery of the Asian economies in 1999, discussion of the causes of the crisis has been centered on the quality of economic governance in these economies. The East Asian economies success was at one time a model to be emulated by other developing countries, but after the 1997 financial turbulence, doubts were raised about the quality of economic governance in these Asian countries. Questions were raised whether the governance in these economies contributed to the crisis when countries like Indonesia, Malaysia, Thailand and South Korea experienced sharp economic contraction during the crisis. She further highlighted that questions on the quality of governance centered on the issue whether or not the same economic governance that produced high growth also weakens the economies and makes them vulnerable to external shocks, whether the economic governance fails to avoid market failures in pursuing its high growth strategy, whether the conditions for good governance always the same irrespective of the stage of economic development, and whether the crony capitalism a result of the governance failure since it was among the widely acknowledged factors contributing to the crisis. To know whether economic governance had made the economy vulnerable to a crisis, it is crucially important to examine the causes of the crisis and to link them with the economic weak points. Was the crisis due to the imprudent economic management or due to external factors? Although external factors have been recognized as the key cause for the crisis, domestic shortcomings were also responsible for deepening or aggravating the impact of the crisis. Furthermore, Malaysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s own crisis remedies and the rejection of the IMFà ¢Ã¢â€š ¬Ã¢â€ž ¢s standard crisis solutions open the debate on what is good economic governance. She argued that the 1997 Asian experience showed the economic governance framework by the IMF and the World Bank has some weaknesses, namely unfettered short term capital flows, lack of long-term and broader macroeconomic objectives when growth is driven by the private sector, and minimal attention given to socioeconomic issues such as income distribution. The rapid recovery by Malaysia and Korea, which adopted different strategies shows that there are alternative ways to respond to a crisis, implying that there is also no single definition of economic governance. Policy flexibility arising from good economic governance before the crisis made it possible to Malaysia to take response measures specially tailored to its need and situation, and rejecting one-size-fits-all prescriptions by the IMF. 7.4 Governance roles in crisis prevention The rapid pace and spread of globalization pose stiff challenges to economic governance as new criteria and developments may impose a heavier governance burden on the government and economy. One of the biggest challenges is the increasingly volatile international flow of capital that makes economic governance much more difficult as economic fundamentals are not the only factors that determine performance. Global integration also limits the choice of measures that are available to a country in making its response. Yet good governance is essential for sustained economic growth. The challenge is to determine what good governance consists of under these changing conditions. Ever better economic management is called for, to preserve economic resilience and prevent external shocks from turning into crises. Thus, a close and critical evaluation of the new economic governance parameters and institutions is essential. 8.0 OVERVIEW ON THE STUDY OF GOVERNANCE 8.1 Development of the study of governance Inada (2003) outlined the development in the study of governance over the last 10 years which can be categorized into several types: Identifying factors of governance: what factors are the governance factors that affect the performance of the economies of developing countries? Example à ¢Ã¢â€š ¬Ã¢â‚¬Å" World Bank (1992) documented such factors as accountability, transparency, predictable legal framework, efficiency of the public sector, etc. Categorization: of several factors of governance. Typical categorization is to divide the factors into political (democratic) factors and administrative (public sector management). Das Quintyn (2002) looked governance from regulatory perspective, whereas Lanyi Lee (1999) categorized economic governance into political basis of governance, macroeconomic governance and financial and corporate governance. Huther Shah (1999) categorized governance factors into four in developing a governance index, which includes Citizen Participation, Government Orientation, Social Development, and Economic Management. Making governance index: effort to make a cross-sectional governance index. UN and World Bank have been making efforts to elaborate their own cross-sectional data on governance. The United Nations University (UNU) has been trying to make a à ¢Ã¢â€š ¬Ã…“World Governance Surveyà ¢Ã¢â€š ¬? (2001) and the World Bank published its report titled à ¢Ã¢â€š ¬Ã…“Governance Mattersà ¢Ã¢â€š ¬? (1999) and à ¢Ã¢â€š ¬Ã…“Governance Matters IIà ¢Ã¢â€š ¬? (2002). Huther Shah (1999) also developed an index of governance factors in their study, which made used a great deal of social and economic data, and in some cases, made qualitative ratings using social surveys and feedback from experts, especially regarding political and social factors which are difficult to make quantitatively measure. Analysis on causal relationship: the next step is to analyze causal relations between governance factors and economic or efficiency-based performance. This is the most challenging area in an academic sense. There are two types of analyses, firstly cross-national analyses. World Bank has made many kinds of regression analyses, one of them is World Bank report titled à ¢Ã¢â€š ¬Ã…“Assessing Aidà ¢Ã¢â€š ¬? (1998), which analyzed the relationship between governance factors of the recipients and the effectiveness of the donorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ aid. Secondly, case studies on a specific country, community, program, etc. which is an analysis how governance factors affect the economic performance or efficiency of the specific case. Both types of analyses have common methodology of analyzing the causal relationship: Define certain economic institutional factors as governance factors, To set the governance factors as independent variables, To set the socio-economic performance of the target (country, program, community) as dependent variable, To analyze the causal relationship between independent variables (governance factors) and dependent variable (performance). 8.2 Scope and limitation of the concept of governance The concept of governance is very useful for understanding non-economic and institutional factors of economic development as it is capable of explaining important non-economic factors such as institutions, public sector management, political process, and the role of civil society. Nevertheless, there are some criticisms against the methodology in the governance analysis, as questions are raised on: What governance factors among the many possible important non-economic factors are picked up as independent variables? Some say that it depends on an analystà ¢Ã¢â€š ¬Ã¢â€ž ¢s judgment based on the analystà ¢Ã¢â€š ¬Ã¢â€ž ¢s personal values. Ambiguity and difficulty of measurement and index-making of governance factors, whereby the measurement is said to be done arbitrarily. The questions above underline the limitations faced by the governance study. Though it is able to prove certain factors that affected the performance are important, it may in some way or other neglect the other factors that could be important too. This simple causation trap à ¢Ã¢â€š ¬Ã¢â‚¬Å" one factor can be proved to significantly affect the performance, but other factors might affect as importantly as well à ¢Ã¢â€š ¬Ã¢â‚¬Å" can be possibly reduced by making more comprehensive multi-variants regression analysis. Still there will be some invisible factors like social capital, initial conditions and political environment that might be very importance yet difficult to identify as index. Furthermore, from economic perspective, it has some limitations in conducting an empirical study. Though cross-national regression analyses using econometrical or statistical method are very popular especially among the experts of international organizations such as World Bank and United Nations, those analyses do not always prove causal relationship between governance factors and economic performance especially when discussing the case of a specific single country. Hence, the definitions of governance are still ambiguous and broad (Inada, 2003). Another trap is that the governance factors themselves may have been changing over time according to socio-economic performance hence making the governance factors specified in the model are not independent variables in reality. Thus, we need a dynamic model which analyzes dynamic relationship among many factors instead of simple static causation model. Nevertheless, dynamic model in analyzing governance factors are in fact very difficult to construct in econometrical methods. Therefore, a descriptive analyses/case studies capturing all critical factors of governance and analyzing its link to growth/crisis and recovery are therefore very useful and important to supplement the limitations of simple causation models. Notwithstanding that, there still a great need to develop dynamic model feasible in analyzing key governance factors and their dynamic relationship with growth/crisis and recovery. 9.0 METHODOLOGY The proposed methodology for the study is divided into the following stages: Stage One: employing in-depth descriptive/case study analysis on the selected countries and identifying important economic components or indicators. Example: Mahani (2003). Stage Two: developing an index of Economic Governance Quality based on the identified indicators. Example: Huther Shah (1999). Stage Three: Analyzing the dynamic relationship of the identified indicators towards economic growth/crisis using panel data estimation techniques. Methodologies utilized by Barro (1997) would be the framework on which the proposed study will base on. 9.1 Case Study Analysis A detailed case study analysis on the countries severely hit by Asian Crisis would be conducted to identify the critical governance factors that had, prior to the crisis, contributed to their phenomenal growth and to investigate how did the governance factors link to the crisis when it struck. Furthermore, the study would also like to examine the roles played by governance in the respective countries in their recovery process. Mahanià ¢Ã¢â€š ¬Ã¢â€ž ¢s (2003) case study on Malaysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s economic governance identified the following as governance indicators, which have apparently captured wider areas of governance. They are: Macroeconomic management à ¢Ã¢â€š ¬Ã¢â‚¬Å" fiscal management, level of government debt, unemployment and inflation. Investment à ¢Ã¢â€š ¬Ã¢â‚¬Å" size and trend of foreign and domestic investments, capital flows and allocation of resources. Trade regime à ¢Ã¢â€š ¬Ã¢â‚¬Å" trade orientation, export and import performance and balance of payment position. Financial sector management à ¢Ã¢â€š ¬Ã¢â‚¬Å" the banking sector and capital market. Exchange rate regime. Private sector participation à ¢Ã¢â€š ¬Ã¢â‚¬Å" privatization and corporate governance. Social development à ¢Ã¢â€š ¬Ã¢â‚¬Å" income distribution and level of poverty. 9.2 Index for Economic Governance Quality Huther and Shah (1999) have constructed an index to gauge the quality of governance as the following: GQI = CPÃŽÂ ¸1 * GOÃŽÂ ¸2 * SDÃŽÂ ¸3 * EMÃŽÂ ¸ ÃŽÂ ¸1- ÃŽÂ ¸2- ÃŽÂ ¸3 where à ¢Ã¢â€š ¬Ã‹Å"ÃŽÂ ¸Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢ is the weight indicating relative importance of components to overall governance assessment. The Governance Quality Index (GQI) features four pertinent sub-indices namely Citizen Participation index (CP), Government Orientation index (GO), Social Development index (SD) and Economic Management index (EM). For every sub-index, there are several number of component indices. Our focus is Economic Management index, which captures the following: EM = OOà Ã‹â€ 1 * CBà Ã‹â€ 2 * DBà Ã‹â€  à Ã‹â€ 1- à Ã‹â€ 2 Components indices of Economic management index are Outward Orientation (OO) which is performance indicator of trade policy, Central Bank Independence (CB), indicator of monetary policy, and Debt-to-GDP ratio (DB), indicator of fiscal policy. Outward Orientation index includes a component of investorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ perceptions of the receptivity of government to trade. The data sources for this component index is obtained from World Bank which comprises of factors such as population-adjusted trade ratio, country credit rating by Institutional Investor, Foreign Direct Investment as a share of GDP and share of manufacturing that is exported. Meanwhile, Central Bank Independence index is based on the legally stated independence of the central bank. It is based from Cukierman, Webb, and Neyapti (1992) who compiled the index from examination of 16 statutory aspects of central bank operations including the term of office for the chief executive officer, the formal structure of policy f ormulation, the bank objectives, and limitations on lending to the government. Finally, Debt-to-GDP index was compiled from IMF and IFS. Though it is considered somewhat imperfect measure of institutional orientation, it is offset to some degree by the historical perspective it provides since debt is a cumulative measure of a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s fiscal policies. Based on the similar index framework by Huther Shah (1999) and the economic governance indicators by Mahani (2003), an Economic Governance Quality index capturing broader aspects of economic governance will be developed. The aspects of governance and their sub-indices are likely to be as the following: Macroeconomic management: fiscal policy (debt to GDP ratio à ¢Ã¢â€š ¬Ã¢â‚¬Å" similar to that of Huther Shah (1999)) monetary policy (central bank independence similar to that of Huther Shah (1999)) Inflation Unemployment Investment: size of foreign and domestic investments (domestic investment to GDP, FDI to GDP, FDI growth) capital flows (short term flows as percentage of GDP) Trade regime: trade orientation (similar to that of Huther Shah (1999), export and import as a percentage of GDP, and balance of payment surplus/deficit) Financial sector management:  ­banking sector (bank loan growth, non-performing loans ratio to GDP) capital market (number of instruments, size of markets, growth of public and private debt securities, etc.) Exchange rate regime: fixed vs. floating regime Private sector participation: corporate governance (rate of bankruptcies, fraud cases, etc.) Social development: level of poverty (rate of poverty incidence) income distribution (growth in per capita income vs. rate of poverty eradication) In developing the index, this study would rely on the existing indicators and data sources measuring the salient features in each sub-index based on the identified components of governance in the previous case analyses. 9.3 Analysis of causal and dynamic relationship to growth Barroà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1997) cross-country empirical study on the economic growth determinants employed panel data estimation analysis on around 100 countries from 1960 to 1990, and his findings strongly supported the general notion of conditional convergence. He found that for a given starting level of real per capita GDP, the growth rate is enhanced by higher initial schooling and life expectancy, lower fertility, lower government consumption, better maintenance of rule of law, lower inflation, and improvements in the terms of trade. For a given values of these and other variables, growth is negatively related to the initial level of real per capita GDP (the conditional convergence effect). His panel estimation model not only captured the cross-sectional (between-country) variations, but also time-series (within-country) dimensions which resulted in increased explanatory power of the economic variables like terms of trade and inflation that have varied a good deal over time within the countries. The estimation used an instrumental-variable (IV) technique where some of the instruments are the earlier value of regressors, and employed three-stage least square (3SLS) method. This approach, according to Barro, may be satisfactory because the residuals from growth-rate equations are essentially uncorrelated across periods. In any event, the regressions describe the relation between growth rates and prior values of the explanatory variables. The system has three equations, where the dependent variables are the growth rates of real per capita GDP for 1965-75, 1975-85, and 1985-1990, whereas the independent variables are GDP, male schooling, life expectancy, fertility rate, government consumption ratio, rule-of-law index, terms-of-trade change, democracy index, inflation rate, and dummy variables for sub Saharan Africa, Latin America and East Asia. Different instrumental variables are used for different equations, and they includes five-year earlier value of GDP, actual value of schooling, life expectancy, rule-of-law, and terms-of-trade variables, and earlier values of other variables. This study proposed to employ similar methodology, with similar dependent variable i.e. growth rate of per capita GDP, and rather limited independent variables which captures only economic governance indicators previously identified in Stage Two. The estimation will utilize panel data of the identified economic governance indicators of the four selected Asian countries over a certain number of years presumably divided into two sub-periods, prior and after the 1997 crisis, with sufficient length to capture the booms and slumps of the economies. The result is expected to suggest the importance economic governance indicators during periods before and after the crisis.

Bell Hooks And The Feminist Movement - 872 Words

Bell Hooks was born in Kentucky on September 25, 1952. She went to all black schools until she was in high school, and after the shift to an integrated school she felt that black students were seen as not â€Å"really belonging† she says this experience â€Å"taught [her] the difference between education as the practice of freedom and education that merely strives to reinforce dominance.†(teaching to transgress 4). After high school she received her bachelor’s degree from stanford university and her master’s degree from UC Santa Cruz. She experienced racial and sexual discrimination throughout her life, and when she was in college, Bell Hooks was exposed to the women’s liberation movement; a feminist movement from the 1970’s that fought for issues that affected women. This movement gave her an outlet to express her ideas about feminism. Bell Hooks fought for women’s rights through literature and created a more inclusive feminist movem ent by exploring how race and class factor into women’s oppression. Bell Hooks is part of the feminist movement but did not feel that the movement represented the levels of oppression that individual women of different groups face, so she introduced new ideas with the concept of intersectional feminism. Intersectionality, a term coined in 1989 by scholar and professor Kimberle Crenshaw, is the interaction between different systems of oppression. Although the term was coined more recently, the idea still existed with other activists like Sojourner TruthShow MoreRelatedCritical Reading Skills : Analyzing The Logic Of Bell Hooks Book914 Words   |  4 PagesCareful and Critical Reading Skills: Analyzing the Logic of bell hooks’ book Use this scaffolding below to help you break the assigned article/chapter for your class presentation Your Name: Chiagozie Harry Okeke Date: 04/7/2016 Chapter #--2 and 3---- Title of Chapter: Consciousness Raising (A Constant Change of Heart Author’s Name: _Bell Hooks Year of Publication: _____________________ Directions: Careful and critical reading of bell hooks’ Feminism is for Everybody. After reading your assignedRead More Expanding Feminist Activism Essay1263 Words   |  6 Pages Expanding Feminist Activism I chose this topic mainly because of interest. When thinking about the idea of feminism aside from all stereotypes one would think the struggle for womens rights. The idea sounds unified in saying and one would assume most women were involved. For a long time the womens movement applied to just white upper class females. I found a source on extremist women, which focused on the powerful ideas of white supremacy. This article was geared toward white women, and theRead MoreFeminism As A Black Woman774 Words   |  4 Pageswhat it means to Bell Hooks. In Feminism is for Everybody, Hooks defines feminism as, â€Å"a movement to end sexism, sexist exploitation, and oppression.† Beyoncà ©Ã¢â‚¬â„¢s feminism may be personal to her but the narratives she depicts in Lemonade resonate with her fans. Through the lenses of Hooks, I will examine the lyrics and images of Beyoncà ©Ã¢â‚¬â„¢s Lemonade by comparing their views on marriage, political liberation, and double standards. Many women are empowered by the words of Bell Hooks. They can also beRead MoreThe Black Imagination By Bell Hooks954 Words   |  4 Pages bell hooks, renowned black feminist and cultural critic criticizes the lack of racial awareness in her essay, Representing Whiteness in the Black Imagination (1992). ‘bell hooks’ is written in lower case to convey that the substance of her work reigns more important than the writer. From a marginalized perspective, hooks argues that sites of dominance, not otherness is problematic and critiques the lack of attention that white scholars pay to the representation of whiteness in the black imaginationRead MoreExplanatory And Dig Deep By Sheryl Sandberg793 Words   |  4 PagesExplanatory Synthesis of â€Å"Lean In†¦Ã¢â‚¬  and â€Å"Dig Deep†¦Ã¢â‚¬  Since the beginning of the American feminist movement in 1848 at the Seneca Falls Convention to the present, gender equality has been heavily debated and discussed. The liberties being called for by feminists have changed over the years, but their message has always remained the same; equality for all women and men. â€Å"Lean In†¦Ã¢â‚¬ , written by modern day feminist and COO at Facebook, is a new age telling of the difficulties and inequalities women faceRead MoreRepresenting Whiteness In The Black Imagination By Bell Hooks Summary1519 Words   |  7 Pagesand their feelings. In this case, an intersectional feminist analysis matters because women who are able bodied, cis-gendered, privileged and white are only being considered whereas bell hooks argue that men, women and trans people who oppressed should be fought for. And Peggy McIntosh adds onto this but a white woman who addresses and recognizes her privilege to help other white individuals understand what they have and blacks do not. In bell hooks, â€Å"Representing Whiteness in the Black ImaginationRead MoreFeminism, By Bell Hook And Sheryl Sandberg Essay866 Words   |  4 Pagesmisconception that feminist ideals are outdated has lead modern women to fall short in their desire to accomplish more. Sheryl Sandberg refuels feminist goals in the article â€Å"Lean In: What Would You Do If You Weren’t Afraid.† She addresses lack of females in the work force, as well as, the way society prompts boys compared to girls. Bell Hook, in contrast, provides a deeper understanding of feminist ideals, along with, an in depth analysis of Sandberg’s work. The articles written by Bell Hook and SherylRead MoreFeminism And The Age Of Media1337 Words   |  6 Pages1102 with Dr. Allukian this semester. ENGL 1102, Feminism in the Age of Media, is a course focus on the theoretical world of feminism: feminism definitions and its presentations in real life. Through the reading of various feminist theories by fa mous pioneers such as bell hooks and Sandra Bartky, I gradually understand the concept of feminism. The further practices of integrating my learning with practices such as making videos and presenting Pechakucha allow me to deepen my understanding with theseRead MoreThe Femenine Mystique and Feminist Theory: From Margin to Theory901 Words   |  4 PagesIn the books The Feminine Mystique and Feminist Theory: From Margin to Theory all focus on Feminism. Feminism is a work of movements; theories and ideas all aimed to define, establish equal rights for women. Feminism came in three different waves, 1. The Suffrage, 2) Woman’s liberation movement, and 3) was a continuation of the second wave and its accomplishments and failures. Both of the books focus on the second wave of feminism and take us on a journey on how woman, black and white, survived theRead MoreA Review Of Feminist Theory2248 Words   |  9 Pages A Review of â€Å"Feminist Theory: From Margin to Center† Jessica Arizaga DePaul University A Review of â€Å"Feminist Theory: From Margin to Center† bell hooks’ second book, Feminist Theory: From Margin to Center, was published in 1984. It is one of her more widely known works, pushing her into the forefront as a leading voice between second and third-wave feminism. Third-wave feminism theory is inclusive of elements of anti-racism, lesbian theory, and women-of-color consciousness, brought

Welfare Reform The United States - 1435 Words

In 1935, President Roosevelt signed into law the Social Security Act, sending the United States onto the historically unprecedented path of the welfare of the welfare state. In the wake of his footsteps, aggressive expansion has grown welfare programs to include everything from Medicare to food stamps. Many would say that the US government is not only obligated morally to provide welfare but also that it provides extensive societal economic windfalls. However, critics of welfare argue that the flaws of the US welfare system and its runaway nature outweigh the potential benefits. There are currently two prevalent narratives on the duties, the obligations, of a government, both of which have been used to justify government welfare. The first, and most vocal is that a government, in general and without exception, ought to protect its own citizens from any and all harms. The second popular narrative is where the government is strictly in existence to protect the rights (life, liberty, pr operty, Bill of Rights, et cetera) of its citizens. First, it is first imperative to know that 14.5% of American families are below the poverty line and struggle to even place food on the table and are in a real danger of starving (Bread). Whether it is to protect its citizens from poverty or their lives from the effect of it, most would agree that the government has a moral obligation to act. Thus, it is reproachable for a government to take no action in protecting its citizens from from theShow MoreRelatedWelfare Reform : The United States1457 Words   |  6 PagesWelfare Welfare s purpose should be to eliminate, as far as possible, the need for its own existence. Ronald Reagan said this statement on January of 1970 when the Los Angeles Times interviewed him (Williamson). Federal government funded welfare in the United States started in the 1930s during the Great Depression. Because of the vast numbers of people out of work and with insufficient funds to buy food for their families, President Franklin D. Roosevelt approved a program to giveRead MoreWelfare: The Governments Failure Essay1330 Words   |  6 PagesThe United States Government has pumped more than $3.5 trillion U.S. taxpayer dollars into welfare but, ironically, the poverty rate is higher than when they started (Tanner, Welfare Reform). This outrageous amount of money proves that welfare will lead United States into debt. The original intent of current welfare benefits has failed; therefore the national welfare system must be reformed. To fully understand how to reform the welfare system Americans must know what the history of welfare isRead MoreEssay about Hcr 230 Week 3 Assignment the Welfare Reform Act1018 Words   |  5 PagesThe Welfare Reform Act HCR/230—Claims Prep II Jeana Timmcke University of Phoenix—Axia College The Welfare Reform Act Welfare has been a controversial issue since the 1960s, and continues to be a controversial issue. During the late 1980s, citizens were calling for reform of the Welfare System. Due to citizen concern the Personal Responsibility, Welfare and Opportunity Reconciliation Act (PRWORA) came into effectRead MoreWelfare Reform Essay1040 Words   |  5 PagesWelfare has been around for than six decades. Since the beginning of its creation people have question whether the programs offered is helping the community. As American taxpayers, your funds contribute to welfare for others. Due to the large number of members who receives government assistants, it is not that simple to monitor every individual. But, I propose that welfare should be reformed. Society is abusing the access to social welfare and to change the downfall sure to come, the governmentRead MoreEssay about Immigrants Are Americans Too1405 Words   |  6 PagesThe 1996 welfare reform, also known as the Personal Responsibili ty Work Opportunity Reconciliation Act (PRWORA), was enacted to increase the efficiency of the welfare system but its discriminatory nature has resulted in economic hardship, lack of funds to receive food, and poorer health among new immigrants to the United States. One of the main provisions of the PRWORA was that it repealed Aid to Families with Dependent Children (AFDC) and replaced it with Temporary Assistance to Needy FamiliesRead MoreEssay on Welfare Reform1372 Words   |  6 PagesWelfare Reform Look at our nation! We have industrial technology, an education system, advanced health care, a banking system, plenty of food available and so much more that is easily accessible. If all this is available to everyone, why are there people that dont have places to sleep and things to eat? The fact that the United States is a rich country is the key reason why people, that are willing, will never starve or go without having shelter. The biggest objection that people have withRead MoreWelfare to Work Programs Essays932 Words   |  4 PagesThe worth of a society is often based on the monetary network of individuals. Moreover, in the United States this is the norm to focus on individual responsibility. However, every society is faced with the conflict of poverty that requires some type of social welfare policy. Poverty is not a stranger to the United States and therefore it created program such as welfare to assist the poor. The welfare system has evolved over the years someti me for the good and others for the bad. In 1996, PresidentRead MoreThe Welfare System Makes People Dependent Essay1129 Words   |  5 PagesThe Welfare System Makes People Dependent One of the many reasons why America is called â€Å"The Land of Opportunity† is because its citizens can move up in socio-economic status through hard work and dedication. However, when U.S. citizens fall on hard times, government-established programs offer financial assistance. The history of welfare reform reveals that the question of personal responsibility versus assistance to those in need has been a constant in the debate over welfare. In the 1950sRead MoreWhat Is the Evidence of Welfare State Retrenchment ?1444 Words   |  6 PagesWhat is the evidence of welfare state retrenchment in western welfare states? 1. Introduction 1. Crisis of Welfare State At the end of the 1970’s, the welfare state moved into crisis (OECD, 1981; Rosanvallon, 1981). As the period of high economic growth ended and stagflation appeared, governments couldn’t afford the social expenditure which had been expanded before. Fiscal deficit appeared and unemployment rate started to increase with economic depression. The idea shared byRead MoreWelfare Is Not Solving Poverty923 Words   |  4 PagesRonald Reagan said, â€Å"Welfare’s purpose should be to eliminate, as far as possible, the need for its own existence.† Welfare is not solving Poverty in America. Before I start this argument I need to assert that I do not think that welfare is a matter of solving poverty anymore. I agree with Ban Ki-Moon when he says, â€Å"True security is based on people’s welfare.† Welfare has become a way of keeping the impoverished people from becoming desperate enough to commit crimes, but within this system, that

The Refugee Blues And Inside Dachau Essay - 1500 Words

Submission: Ethical Witnessing through Poetic Expressions in the â€Å"Refugee Blues† Experiences, emotional events, and imaginations are often condensed into poetic forms of expression. In Refugee Blues and Inside Dachau, W.H. Auden and Sherman Alexie brought to the fore the struggles and conflicts that characterize humanity through the dynamics of political plots and human biases. A refugee is a psychologically or physically displaced person from their conceived home or country either by reason of tribe, war, religion or politics. Thus, being a refugee means that one has to be displaced and Displacement occurs not just in the physical world, but in the head, in the very language one has to learn again† (Smith 190). The use of the word â€Å"Blues† in the poem is suggestive of resignment and sadness. It is characteristic of the African American musical notes enslaved in the Southern part of America’s plantations. The traumatic events of the European Holocaust and th e American Indian genocides infused in the poems are meant to invoke ethical responses from readers. Ethical witnessing in literature requires three actions from the reader; empathy, consideration of the traumatic portrayal, and a view of the world around the reader (Peterson 76). The speakers in both poems are outsiders who seek to elicit empathy in the readers. The melancholic rendition makes it a plain ballad. This paper looks at the formal analysis and ethical witnessing in Refugee Blues by W.H. Auden alongside

Literature Review on Http Session Hijacking

Question: Discuss about the Literature Review on Http Session Hijacking. Answer: Introduction HTTP session hijacking is a form of hacking into the system for extracting the information regarding the computer web surfing session (Sum Keng Chung et al., 2014). The hackers would exploit the cookie session of the system for gaining the access to services and information in the computer system. Another term, theft of magic cookie has been given to the HTTP session hijacking (Yogesh Mundada et al., 2014). The HTTP cookies that is used for maintaining the particular web server and login session of the users can be hacked into for extracting the information from it. The use of intermediary computers would be used by the attacker for accessing the saved information in form of cookies. The following assignment has been made for forming the literature review on the topic of HTTP session hijacking form the available literatures. It would exclude the technical details and process included for the HTTP session hijacking. The different attacks on the computer session and its vitality would be highlighted in the following report. The available literatures are prone to provide a description on the increased HTTP session hijacking and their impact on users personal data. However, the final section of the review would provide the summary of the complete literature on HTTP session hijacking. Preventives for HTTP Session Hijacking on users The HTTP session hijacking has been the most prominent issue for the users and it has affected the operations of the user sessions (Weaver et al., 2013). The web session would have to be controlled for protecting the occurrence of attack. The use of SALT (sequence number alteration by the use of logical transformation) would be useful for protecting and defending the HTTP session hijacking (Nishanth Babu, 2014). Different types of methods should be used for protecting the HTTP session hijacking for different users. Selection of Research Topic The selection of any research topic is based on the interest of the individual doing the research. It is important for making sure that the topic selected for the research purpose must be collateral and there should be ample amount of previous literature available on the research topic (Raymond Lukanta, 2014). There are some principles that must be followed for selecting any topic for research and performing research on it. They are: Brainstorming of ideas- it helps in forming an overview of the research plan of collaborative environments and forming frontline techniques for vulnerabilities of web application (Shashank et al., 2013). The brainstorming of ideas would form a cognitive research overview of how an individual should proceed with the research topic. Accumulation of background information- The accumulation and collection of available information and data on the research topic is another important factor for the development of the research paper and forming a review on the available information. Focusing on crucial aspects- The research should focus on important facts and figures of the research topic. Unnecessary data and information (mere statements without any proof of existence) should be omitted from the research. Flexibility in research methodology- It is important for being flexible in the research methodology used (Mei et al., 2013). As it is possible that sometimes the research would require practical data analysis while on the other hand theoretical data should have to be used. Making a theory discussion- The important data and information should be accumulated and used for making a thesis discussion. The discussion should be elaborated to cover all the important and crucial points of the research on preventive measures for HTTP session hijacking. Available Literatures on HTTP Session Hijacking The HTTP session hijacking would be more formidable for attacking the progress of user web server utilization (Bursztein et al., 2012). The secure web server login would be helpful for dealing with the HTTP session hijacking. The goal of the secure login would be to deal with the hacking of users session along with personal data and information (Hanmanthu et al., 2015). The discussion of the report would be based on the analysis of the available literature and articles on the HTTP session hijacking. The discussion would be ordered on the basis of its importance and proof of statements. The analysis of the preventive measures is conceptual and it has been done by analyzing the various facts and data collected from different sources. The generation of session ID, encryption and comparison of cookies would be helpful for forming the security of wireless networks. A strong and encrypted session would help in formation of prevention models (Manivannan Sathiyamoorthy, 2014). The sections headings that would be used are the title of the 3 articles that would be used for forming the literature review. The client authorisation process for the modern web surfing structure can also be used for protecting the occurrence of HTTP session hijacking (Mundada et al., 2014). The New apparatus works the treats sets into two for testing. One set is the login treats and the second set is the non-sign in cookies. Newton tests the treats sets from top and the second treat set from the base in a rotating pattern. The Newton calculation stops where there are no more treat sets left to test. Newton decides the confirmation treats from the client sign in and client log out example Relation of Available Literature on HTTP Session Hijacking The use of automatic and robust protection for cookie based sessions would be helpful for providing the client side protection. The solution has been named as the one time cookies and it can be used for preventing the attacks on users information (Dacosta et al., 2011). The session of the user would be kept and stored secretly without any expensive synchronization requirement. The implementation of O. T. P. would be plugged in on the platform of word pres. The issue of HTTP session hijacking could be dealt by improving the security of web applications session management (De Ryck,P et al., 2014). The solution of the problem is based on the light weight mechanism. An unknown key value is infused between the server and the program and it keeps an attacker from assuming control over the client's session, as the key can't be transmitted or acquired easily. The security properties are observed to be upgraded and raise the level of security for HTTP organizations. The components like HTTP session, flags, browser model, and feather weight Firefox would be helpful for protecting the cookie based session (Bugliesi et al., 2014). The session is the most vital sort of assault in systems. These assaults are propelled by fake get to focuses. The fundamental target of this paper to recognize the fake get to focuses with the utilization of server hubs in the system. We likewise propose in giving security for IP satirizing utilizing scrambled calculation. Another method that can be used for protecting the IP spoofing and session hijacking is by using the sensor nodes (Abhishek Kumar Bharathi, 2014). The specialists have concentrated the broken verification assaults and the sessions administration assaults in awesome profundity and clarified the procedure of the interruptions that occur. The preventive measures have additionally been proposed by the analysts in the review which is a choice of existing preventive measures accessible today. Hence, it can be said that all the literatures available are based on the verification of designs and adaptability of new tools for the prevention of HTTP session hijacking. It would result in extraction of personal information from the user web session. According to Thiago Rocha (2014), the web surfing store the information in forms of cookies and the hackers get into the webs server system for accessing the information and use it for their personal use. Justification of the Assignment with the Research Available The research paper has been able to assist in making and distinctly analyzing the preventive measures for HTTP session hijacking for the operations of the business organizations and human use. The study has been done by concentrating on the development of the preventive measures for HTTP session hijacking and support ease of web server processing. The assignment has been done by focusing on the issues faced by the users due to the issue of HTTP session hijacking on the web service storage. The study had shown the critical evaluation of the issues of HTTP session hijacking. The research done in this assignment would be helpful for providing an overview on the preventive measures for HTTP session hijacking. Conclusion The review of the various literatures would result in finding the implementing methods for the preventions of HTTP session hijacking. The use of preventive methods plays a crucial role for considering all the safety measures, achieve the security considerations, supported the foundation of solutions for preventing HTTP session hijacking. The use of different source routed packets for IP configuration would be helpful for supporting the network participation and encouragement of IP packets to pass through Bs machine. The study would be helpful for the development of an idea of the preventive measures for HTTP session hijacking and its implications in the development of commercial operations. The research has been done in conceptual methodology for the study purpose. The conceptual analysis of the HTTP session hijacking was based on the available studies and articles. The critical analysis on the topic has yielded the benefits and drawbacks of the commercial usage of preventions for HTTP session hijacking. The structure for the research includes a basic introduction for defining the topic of study, data collection methods, evaluation of the available literature, forming a thesis of the topic, and concluding the topic. References Abhishek Kumar Bharathi, m. c. (21014). prevention of session hijacking and IP spoofing with sensor nodes and cryptographic approach. International Journal of Sciences: Basic and Applied Research (IJSBAR). Bugliesi, M., Calzavara,S., Focardi, R.,andKhan,W.(2014) Automatic and RobustClient-Side Protection for Cookie-Based Sessions,pp:161-168,Pdf.,retrieved on Dec 9th 2016 Bursztein,E.,Soman,C.Boneh,D. Mitchell,J.C.(2012) Session Juggler: Secure WebLogin From an Untrusted Terminal Using Session Hijacking,978(1) 321-330 Pdf. retrieved on Dec 8th 2016 Dacosta, I., Chakradeo, S., Ahamad, M., Traynor, P. (2011). One-time cookies: Preventing session hijacking attacks with disposable credentials. De Ryck,P., Desmet,L., Piessens,F., Joosen,W.(2014) Improving the Security ofSession Management in Web Applications,pp:1-13,Pdf. retrieved on Dec 8th 2016 Hanmanthu, B., Ram , R., Niranjan , P. (2015). Decision tree classification. SQL Injection Attack Prevention Based on Decision tree classification, 1-5. Manivannan, S. Sathiyamoorthy, E. (2014). A Prevention Model for Session Hijack Attacks in Wireless Networks Using Strong and Encrypted Session ID.Cybernetics And Information Technologies, 14(3). Mundada, Y., Feamster, N., Krishnamurthy, B., Guha, S., Levin, D. (2014). Half-Baked Cookies: Client Authentication on the Modern Web. Nagpal, B., Chauhan, N. Singh, Nanhay., Shatma,P.( 2014) Preventive Measures for Securing Web Applications using Broken Authentication and Session Management Attacks: a Study, 24(81) 1-3, Discovery, retrieved on Dec 9th 2016 Nishanth, N. Babu, S. (2014). Sequence Number Alteration by Logical Transformation (SALT): A Novel Method for Defending Session Hijacking Attack in Mobile Ad hoc Network. International Journal Of Computer And Communication Engineering, 3(5), 338-342. Raymond Lukanta, Y. A. (2014). Scanning tool for session management vulnerabilities. A Vulnerability Scanning Tool for session management vulnerabilities, 6. Shashank, K., Shah, P., Bhavsar, K., Gandhi, S. (2013). Frontline Techniques to Prevent Web Application Vulnerability. International Journal Of Advanced Research In Computer Science And Electronics Engineering (IJARCSEE), 2(2), 2-5. Sum Keng Chung, Ow Chee Yee, Manmeet Mahinderjit Singh, Rohail Hassan. (2014). Preventing session hijacking. SQL Injections Attack attack and session hijacking on E-learning systems, 5. Thiago S. Rocha, E. S. (2014). ETSS detector tool. ETSSDetector: a tool to automatically detect CrossSite scripting vulnerabilities. Weaver, N., Kreibich, C., Dam,M., PaxsonV. (2013)Here Be Web Proxies,PP: 1-10,Pdf., retrieved on Dec 9th 2016 Yogesh Mundada, Y. Feamster,N., Krishnamurthy,B, Guha,S. Levin,D.(2014) Half-Baked Cookies: Client Authentication on the Modern Web, pp1-6 pdf.,retrieved on Dec 9th 2016

How Authors Affected the Frontier Movement Essay Sample free essay sample

The Frontier Movement is a period in American history that refers to the westbound motion of Americans toward the Pacific Ocean during the mid-1800s lasting until the early 1900’s. This motion was characterized by an expansionist ardor for chance and escapade. but was besides to a great extent characterized by widespread societal subjugation and reform. It was during this clip that both writers and reformers were inspired to compose and portion their thoughts. many of which called attending to the frequently ignored societal unfairnesss of the clip. These author’s thoughts non merely were inspired by the motion ( the beginning of American Literature ) . but besides to a great extent fueled and contributed to the motion in return. Writers Mark Twain and Susan B. Anthony. for illustration. played an of import function in the frontier motion through their Hagiographas as they used these to convey the feelings they held toward America’s crooked societal favoritism an d socio-economic disparities. We will write a custom essay sample on How Authors Affected the Frontier Movement? Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Mark Twain and Susan B. Anthony are considered to be two of America’s first American Literature writers. Mark Twain. known as the â€Å"Father of America Literature† . became an writer in the West after the terminal of the Civil War. Susan B. Anthony. known as one of the first women’s militants. plants focused chiefly on the gender inequality customary of the clip. Both of these author’s plants are recognized as being bold and reflecting much of the American frontier movement’s attitude and complaints. Their plants helped fuel their readers understanding of who they were and helped animate their audience in the spirit of the frontier motion. Mark Twain’s works frequently embodied the freshly discovered American frontier spirit of individualism and escapade. His plants were both entertaining and bucked up Americans to make their ain fate. This was both a popular and important impression during the frontier motion as it embodied the idea’s Americans had about spread outing due west in hunt of a new life. In add-on to his inspirational and humourous plants. his Hagiographas besides addressed the societal favoritism he witness during the epoch of the frontier motion. Many of his plants. like Huckleberry Finn for illustration. showed the possibility of conveying alteration to a universe dominated by racism and folly. His works both captured American’s imaginativeness. inspired American’s frontier attitude. and called attending to societal wrongs. Susan B. Anthony’s works focused more on the daring of the American. Rather than idolising the spirit of America. she frequently called Americans out on the societal unfairnesss prevalent throughout America during the frontier epoch and promoted alteration. She called attending to both American racism and particularly gender inequality. While Americans were get downing to place the distinctly American features they took pride in. Susan B. Anthony identified the facets of American life that Americans came to recognize they should be ashamed of. Her Hagiographas and causes were bold. reflecting the rugged American Spirit. but her plants besides helped determine the societal facets of the American Frontier motion. The frontier motion of America marked the beginning of American individuality. and therefore the beginning of American Literature. It was this motion that influenced the plants of going writers. many. who in bend. influenced the frontier motion. Mark Twain and Sarah B. Anthony both contributed to the frontier motion through their Hagiographas in that they helped Americans recognize their individuality. During the frontier motion. Americans began to see themselves as an adventuresome and bold people. and it was these writers who helped Americans addition and develop an apprehension of who they were. even though their thoughts were frequently negative. In short. by supplying Americans with literature about who the American people were. the writers helped animate Americans to show this new attitude of escapade and acknowledge American societal values in the Frontier Movement.