Matching Items (10)

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An Analysis of Sovereign Debt Restructurings: The Paths to Economic Sustainability

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This paper explores the history of sovereign debt default in developing economies and attempts to highlight the mistakes and accomplishments toward achieving debt sustainability. In the past century, developing economies

This paper explores the history of sovereign debt default in developing economies and attempts to highlight the mistakes and accomplishments toward achieving debt sustainability. In the past century, developing economies have received considerable investment due to higher returns and a degree of disregard for the risks accompanying these investments. As the former Citibank chairman, Walter Wriston articulated, "Countries don't go bust" (This Time is Different, 51). Still, unexpected negative externalities have shattered this idea as the majority of developing economies follow a cyclical pattern of default. As coined by Reinhart and Rogoff, sovereign governments that fall into this continuous cycle have become known as serial defaulters. Most developed markets have not defaulted since World War II, thus escaping this persistent trap. Still, there have been developing economies that have been able to transition out of serial defaulting. These economies are able to leverage debt to compound growth without incurring the protracted consequences of a default. Although the cases are few, we argue that developing markets such as Chile, Mexico, Russia, and Uruguay have been able to escape this vicious cycle. Thus, our research indicates that collaborative debt restructurings coupled with long term economic policies are imperative to transitioning out of debt intolerance and into a sustainable debt position. Successful economies are able to leverage debt to create strong foundational growth rather than gambling with debt in the hopes of achieving rapid catch- up growth.

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Date Created
  • 2015-12

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Supplies Needed for Devices to Aid in Health Care in Developing Countries

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Many developing countries do not have health care systems that can afford technological biomedical devices or supplies to make such devices operational. To fill this void, nonprofit organizations, like Project

Many developing countries do not have health care systems that can afford technological biomedical devices or supplies to make such devices operational. To fill this void, nonprofit organizations, like Project C.U.R.E., recondition retired biomedical instrumentation so they can send medical supplies to help these developing countries. One of the issues with this is that sometimes the devices are unusable because components or expendable supplies are not available (Bhadelia). This issue has also been shown in the Impact Evaluations that Project C.U.R.E. receives from the clinics that explain the reasons why certain devices are no longer in use. That need underlies the idea on which this honors thesis has come into being. The purpose of this honors project was to create packing lists for biomedical instruments that Project C.U.R.E. recycles. This packing list would decrease the likelihood of important items being forgotten when sending devices. If an extra fuse, battery, light bulb, cuff or transducer is the difference between a functional or a nonfunctional medical device, such a list would be of benefit to Project C.U.R.E and these developing countries. In order to make this packing list, manuals for each device were used to determine what supplies were required, what was necessary for cleaning, and what supplies were desirable but functionally optional. This list was then added into a database that could be easily navigated and could help when packing up boxes for a shipment. The database also makes adding and editing the packing list simple and easy so that as Project C.U.R.E. gets more donated devices the packing list can grow.

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Created

Date Created
  • 2018-05

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The Waste Picking Initiative

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Waste pickers are the victims of harsh economic and social factors that have hurt many developing countries and billions of people around the world. Due to the rise of industrialization

Waste pickers are the victims of harsh economic and social factors that have hurt many developing countries and billions of people around the world. Due to the rise of industrialization since the 19th century, waste and disposable resources have been discarded around the world to provide more resources, products, and services to wealthy countries. This has put developing countries in a precarious position where people have had very few economic opportunities besides taking on the role of waste pickers, who not only face physical health consequences due to the work they do but also face exclusion from society due to the negative views of waste pickers. Many people view waste pickers as scavengers and people who survive off of doing dirty work, which creates tensions between waste pickers and others in society. This even leads to many countries outlawing waste picking and has led to the brutal treatment of waste pickers throughout the world and has even led to thousands of waste pickers being killed by anti-waste picker groups and law enforcement organizations in many countries. <br/> Waste pickers are often at the bottom of supply-chains as they take resources that have been used and discarded, and provide them to recyclers, waste management organizations, and others who are able to turn these resources into usable materials again. Waste pickers do not have many opportunities to rise above the situation they are in as waste picking has become the only option for many people who need to provide for themselves and their families. They are not compensated very well for the work they do, which also contributes to the situation where waste pickers are forced into a position of severe health risks, backlash from society and governments, not being able to seek better opportunities due to a lack of earning potential, and not being connected with end-users. Now is the time to create new business models that solve these large problems in our global society and create a sustainable way to ensure that waste pickers are treated properly around the world.

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Date Created
  • 2021-05

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A NEW REALM OF SUPPORT: INSPIRING COLLEGE-AGE, WESTERN TRAVELERS TO ENGAGE IN SHORT-TERM SERVICE

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Research has examined the many motivations of international volunteers (voluntourists), but there is limited research about how volunteers are reached, as well as differing perceptions between travelers who have and

Research has examined the many motivations of international volunteers (voluntourists), but there is limited research about how volunteers are reached, as well as differing perceptions between travelers who have and have not traveled before. This study examines the preferences and perspectives of college-age, western backpackers. The general terms "backpacker" and "traveler" are used throughout the paper for simplicity, but it is important to note that these backpackers are specifically from the college-age, western demographic. First, the study addresses which recruitment avenues are the most successful, as well as which avenues could be utilized to increase the number of foreign, short-term volunteers. In addition, this study examines the differences between backpacker perceptions - specifically the differences in potential volunteering motivations and concerns. Data was collected through an anonymous online survey distributed to self-identified travelers between the ages of 18 and 25 in the United States and travel destinations in Vietnam and India. According to traveler responses, personal recommendations and hotels/hostels are important resources when making travel plans. Despite the importance of both resources, personal recommendations drew more travelers to volunteer than hostels/hotels (none of the travelers surveyed learned about their last volunteer opportunity through a hostel), revealing a potential avenue of recruitment. A small number of organizations have reported successfully utilizing the hostel-partnership model, which implies that successful partnerships are possible. Further, potential motivations to volunteer were similar between those who have and those who have not volunteered, however, potential concerns between the two groups differed. Those who had volunteered before reported to be considerably more concerned about adherence to cultural norms, as well as communication barriers, while those who had not volunteered were much more concerned about safety. These findings lead to several theoretical implications for nonprofits with respect to utilizing hostels for volunteer recruitment, as well as addressing concerns of those who have volunteered before differently from those who have not.

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Date Created
  • 2016-05

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The Relationship between the Resource Curse and Economic Development and How to Respond to Rent Seeking Activities

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This paper looks at factors that drive economic growth and show the correlation between economic growth and economic development and how important economic growth is for a developing country because

This paper looks at factors that drive economic growth and show the correlation between economic growth and economic development and how important economic growth is for a developing country because when there is economic growth then the country has potential to develop. This paper continues to explain why there is economic growth in some countries and not in others with specifically focusing on the effects of having a blessed resource endowment. Having an abundance of resources should be a comparative advantage, however as seen in Latin America, South East Asia, and sub-Saharan Africa that this surprisingly does not lead to high levels of economic growth. This phenomenon is referred to as the Resource Curse and can be fully explained through assumptions derived from the macroeconomic Heckscher-Ohlin model as well as recent trends in emerging economies. Leading to the conclusion that developing countries abundant in resources are very susceptible to the Resource Curse through the increase inequality that ultimately stunts development. Literature suggests that one of the only solutions to overcoming the Resource Curse is the strengthening the effectiveness of the policies in place, which is a subsequent effect of having quality institutions.

Focusing on how to improve institutions there needs to be consideration of the fact that institutions have rent seeking behaviors because both local governments and foreign investors want to acquire a greater share of the production and the benefits. In attempt to find some solution of how countries can overcome the Resource Curse without having to totally reconstruct the political system the goal should be to be to focus on actions from the private sector. The private sector tends to magnify rent seeking behavior and to solidify any solution I performed interviews from industry leaders who have been working in economic development for the past decades. The purpose was to understand what companies are doing now to ensure sustainable development and how that has changed over the past decades.

In the end, the private industry is focusing on regulations that standardize polices for companies pursuing foreign direct investment requiring them to also focus on local economic growth and development. This requires foreign investors to understand the local culture, environment, and institutions leading to overall better choices for long term profitably, thus fulfilling their rent seeking tendencies. One of the biggest proven solutions is the Social License to Operate which is essentially an agreement created by the private investor that requires the local community to be informed and holds the investor accountable. In the end, if the private sector can positively impact a community whilst maintaining their own agenda then a country can overcome the Resource Curse.

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Date Created
  • 2019-05

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Assessment of the regenerative potential of organic waste streams in Lagos Mega-City

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There is never a better time for this study than now when Nigeria as a country is going through the worst time in power supply. In Lagos city about 12,000

There is never a better time for this study than now when Nigeria as a country is going through the worst time in power supply. In Lagos city about 12,000 tons of waste is generated daily, and is expected to increase as the city adds more population. The management of these waste has generated great concern among professionals, academia and government agencies. This study examined the regenerative management of organic waste, which accounts for about 45% of the total waste generated in Lagos. To do this, two management scenarios were developed: landfill methane to electricity and compost; and analyzed using data collected during field work and from government reports. While it is understood that landfilling waste is the least sustainable option, this study argued that it could be a viable method for developing countries.

Using U.S EPA LandGEM and the IPCC model, estimates of capturable landfill methane gas was derived for three landfills studied. Furthermore, a 35-year projection of waste and landfill methane was done for three newly proposed landfills. Assumptions were made that these new landfills will be sanitary. It was established that an average of 919,480,928m3 methane gas could be captured to generate an average of 9,687,176 MW of electricity annually. This makes it a significant source of power supply to a city that suffers from incessant power outages.

Analysis of composting organics in Lagos was also done using descriptive method. Although, it could be argued that composting is the most regenerative way of managing organics, but it has some problems associated with it. Earthcare Compost Company processes an average of 600 tons of organics on a daily basis. The fraction of waste processed is infinitesimal compared to the rate of waste generated. One major issue identified in this study as an obstacle to extensive use of this method is the marketability of compost.

The study therefore suggests that government should focus on getting the best out of the landfill option, since it is the most feasible for now and could be a major source of energy.

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Created

Date Created
  • 2016

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Promoting sustainable tourism in the backpacker community: how technology devices can impact local economic development in developing countries

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This study aimed to explore the relationship between international backpackers and local communities in the developing world. By investigating the role of technology design in a backpacking trip, this research

This study aimed to explore the relationship between international backpackers and local communities in the developing world. By investigating the role of technology design in a backpacking trip, this research analyzed the potential to improve Sustainable Tourism for both international backpackers and local communities. The idea of achieving sustainability in this research is to assess both economic and cultural impact through the assistance of technology. This study originates from a grounded theory approach triangulated from literature reviews and the researcher’s observations. The research tested the suitability of this theory by using qualitative research methods, then analyzed the appropriateness of its applicability. The findings suggested some useful standards for proposing design solutions to enhance sustainable tourism within the backpacker segment

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Date Created
  • 2016

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Perceptions of international tourism destinations

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Destination image has been explored by studying various aspects of the process of forming a perception about an area and choosing to visit or not. This study uses a variety

Destination image has been explored by studying various aspects of the process of forming a perception about an area and choosing to visit or not. This study uses a variety of theories from previous research which has focused on subsets of factors which influence the overall process to create a model to organize the perception formation and decision making progress into one continuous and interrelated progression. Online questionnaires using Likert scale statements and questions were distributed to participants through Facebook in order to measure and test the model. A total of 266 questionnaires were completed and analyzed using t test, ANOVA, regression, factor analysis, and cluster analysis. The original model from the beginning of the study transformed with the removal of some variables and the alteration of others. The factors that were shown to influence perception of the destination were tourist type and knowledge of the country. Tourists who were more likely to seek new environments and had a higher level of knowledge of the country used in the marketing video had a better perception of the destination before and after the video. Obstacles for deciding to visit the destination were found to be long distances traveling and substitution of alternative destinations. The results show that marketing videos do create a positive change in the perception of the destination, but this alone is not likely enough to influence the decision to visit the destination. Marketing agencies should consider more ways of informing consumers of the destination in addition to commercials so that overall knowledge of the area can be improved. In addition, marketing agencies should target consumers that are interested in visiting new environments by using travel magazine subscriptions, international airline agencies and hotels, and social media groups.

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Date Created
  • 2014

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Identification of risk factors, success practices, and feasibility of the best value approach application to improve construction performance in Vietnam and other developing countries

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The Vietnam Construction Industry (VCI) has been facing risks that cause delays, budget overrun, and low customer satisfaction that required continuously research efforts to manage them. This research assesses the

The Vietnam Construction Industry (VCI) has been facing risks that cause delays, budget overrun, and low customer satisfaction that required continuously research efforts to manage them. This research assesses the current conditions of the VCI in terms of performance, common risks, and success factors; and explores the potential of using the Best Value Approach (BVA), an innovative procurement and project management technology, to improve overall VCI performance. VCI risk factors were presented in an analysis of the data collected from a survey that include the 23 common risk factors that cause non-performance in construction projects in developing countries. The factors were consolidated from an extensive literature reviews, and inputs were solicited from 103 construction practitioners in Vietnam. The study reveals the top five risk factors as the bureaucratic administrative system, financial difficulties of owner, slow payment of completed works, poor contractor performance, financial difficulties of contractor. Factor analysis explored the correlations among the risks and yielded four outcomes – Lack of Site and Legal Information, Lack of Capable Managers, Poor Deliverables Quality, and Owner’s Financial Incapability. VCI success factors were revealed from a survey that is adopted from 23 Critical Success Factors (CSFs) related to common construction risks, found through extensive literature reviews, and inputs were solicited from 101 VCI participants. The experts ranked those CSFs with respect to impact to project success. The study reveals the top impactful CSFs such as all project parties clearly understand their responsibilities, more serious consideration during contractor selection stage, test contractors’ experience and competency through successful projects in the past. Factor analysis was conducted to explore the principal success factor groupings and yielded four outcomes – Improving Management Capability, Adequate Pre-Planning, Stakeholders’ Management, and Performance-based Procurement. An analysis from six industry experts determined how current VCI conditions, namely risk and success factors, are related to BVA. Sixteen BVA success principles were identified and ranked based on their perceived impact to project performance by an industry survey with 98 VCI practitioners. The results show high agreement rate with all sixteen BVA principles. The majority of participants agreed that BVA would improve project performance and were interested in learning more about BVA. The results encourage further BVA testing and education in the VCI.

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Created

Date Created
  • 2019

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Implementation of the best value approach in India

Description

The construction industry in India suffers from major time and cost overruns. Data from government and industry reports suggest that projects suffer from 20 to 25 percent time and cost

The construction industry in India suffers from major time and cost overruns. Data from government and industry reports suggest that projects suffer from 20 to 25 percent time and cost overruns. Waste of resources has been identified as a major source of inefficiency. Despite a substantial increase in the past few years, demand for professionals and contractors still exceeds supply by a large margin. The traditional methods adopted in the Indian construction industry may not suffice the needs of this dynamic environment, as they have produced large inefficiencies. Innovative ways of procurement and project management can satisfy the needs aspired to as well as bring added value. The problems faced by the Indian construction industry are very similar to those faced by other developing countries. The objective of this paper is to discuss and analyze the economic concerns, inefficiencies and investigate a model that both explains the Indian construction industry structure and provides a framework to improve efficiencies. The Best Value (BV) model is examined as an approach to be adopted in lieu of the traditional approach. This could result in efficient construction projects by minimizing cost overruns and delays, which until now have been a rarity.

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Created

Date Created
  • 2013