International tourism : can it contribute to Nigeria's economic growth as other industrial sectors?

The growth of international tourism and the attendant economic benefits to the world nations, has been phenominal since the end of the second world war. It is considered that the industry's upsurge will continue even in the phase of various constraints exemplified in high fuel cost, constant increase in fares and the threatening world-wide recessions. Developed as well as developing countries have gained substantially from the industry. A recent development shows increasing tourist traffic towards developing countries, while developed countries still hold their fort in stable growth of tourist receipts. The strategic beneficial effects of international tourist industry are often quantified in terms of foreign exchange earnings, employments offered, and the Real Estate super-structures; but in general,the industry has innumerable direct and indirect benefits to any nation engaging in the trade. The objective of this thesis is to demonstrate by comparative analysis and proven parameters that the international tourist industry which is given low priority in development in Nigeria, can equally contribute to the nation's economic growth as other industrial sectors which receive high priority and patronage in development. The data for this paper are gathered from primary sources which are i) responses by the Federal and State Governments' tourism-related offices; ii) government publications e.a. the Third National Development Plan of Federal Republic of Nigeria; and iii) Books and collections. The secondary sources include reports,periodicals and hospitality industry publications. To formally establish the international tourist industry in Nigeria, all the governments (Federal, State and Local) and the private sector in the country, should commence the development of the industry with research and feasibility studies, to be followed by proper planning at all levels and based on the result of the research and feasibility studies.

IFRS 9 ‘Financial instruments’: Anticipated effects of the standard change at Kesko Group

IFRS 9 Financial instruments presents the classification and measurement, the impairment and the hedge accounting requirements for accounting of financial instruments. The standard was set by the International Accounting Standards Board to replace IAS 39 Financial instruments: Recognition and Measurement on 1 January 2018. Hence, the long-criticized and complexly experienced requirements for accounting of financial instruments will undergo the most significant reform. This thesis addresses anticipated effects of IFRS 9, focusing on the challenges the new classification and measurement requirements bring forth in the case organization Kesko. This thesis was conducted as an action research, in which, a case study method was applied. The thesis was conducted with a twofold manner, which involved general analysis of IFRS 9 and further covered distinct ambitions related to the case organization. For the general part, empirical data was gathered by interviewing two IFRS experts from KPMG and PwC, while the interviews within the case organization constituted for the case study. Further, the literature on the IFRS 9 was such scant that the theoretical examination was merged with the IFRS experts’ quotations that also strived to contribute to the overall objective of reinforcing the body of research related to the subject. This thesis indicates that IFRS 9 will most fundamentally reform the impairment and the hedge accounting requirements of financial instruments. Regard to impairment, the changes are anticipated to increase the amount of loan-loss provisions, whereas the relaxed hedge accounting requirements are expected to encourage more companies to commence the application of hedge accounting. The thesis provides empirical support on that the term business model for managing financial assets, introduced in IFRS 9, is ably hard to comprehend and remains ambiguous. It goes on to argue that the most prominent issue in defining the business model for managing financial assets is the limits set in IFRS 9 for selling financial assets. In consideration of Kesko, this thesis finds that the key effects of IFRS 9 are anticipated to be the reshaping of the organization’s treasury policy and further examination of the possibility to apply hedge accounting for foreign exchange derivatives. What is more, the thesis presumes that complying the requirements of IFRS 9 Kesko will apply the hold to collect and sell model for managing financial assets in future.

Status of the beach management units development in Uganda

Fisheries plays a significant and important part in the economy of the country contributing to foreign exchange, food security and employment creation. Lake Victoria contributes over 50% of the total annual fish catch. The purpose of fisheries management is to ensure conservation, protection, proper use, economic efficiency and equitable distribution of the fisheries resources both for the present and future generations through sustainable utilization. The earliest fisheries were mainly at the subsistence level. Fishing gear consisted of locally made basket traps, hooks and seine nets of papyrus. Fishing effort begun to increase with the introduction of more efficient flax gillnets in 1905. Fisheries management in Uganda started in 1914. Before then, the fishery was under some form of traditional management based on the do and don'ts. History shows that the Baganda had strong spiritual beliefs in respect of "god Mukasa" (god of the Lake) and these indirectly contributed to sustainable management of the lake. If a fisherman neglected to comply witt'l any of the ceremonies related to fishing he was expected to encounter a bad omen (Rev. Roscoe, 1965) However, with the introduction of the nylon gill nets, which could catch more fish, traditional management regime broke down. By 1955 the indigenous fish species like Oreochromis variabilis and Oreochromis esculentus had greatly declined in catches. Decline in catches led to introduction of poor fishing methods because of competition for fish. Government in an attempt to regulate the fishing irldustry enacted the first Fisheries Ordinance in 1951 and recruited Fisheries Officers to enforce them. The government put in place minimum net mesh-sizes and Fisheries Officers arrested fishermen without explaining the reason. This led to continued poor fishing practices. The development of government centred management systems led to increased alienation of resource users and to wilful disregard of specific regulations. The realisation of the problems faced by the central management system led to the recognition that user groups need to be actively involved in fisheries management if the systems are to be consistent with sustainable fisheries and be legitimate. Community participation in fisheries management under the Comanagement approach has been adopted in Lake Victoria including other water bodies.

The role of socio-economics in the sustainable development and management of the fisheries

The fisheries resources of Kyoga basin lakes are of greater socio-Economic significance for the poor rural communities of this area. The lake's fisheries provide the much needed animal protein as well as source of income for the fishers and the rural poor communities. Nationally, Kyoga basin lakes fisheries are economically important in that they contribute 27% of the total national fish production. In addition, more than 15 riparian districts depend on it for food and income. Moreover, fish from lakes Kyoga and Kwania playa major role in the regional export commodity trade earning the country foreign exchange. The perception that heavy exploitation of inland fishery resources threatens a loss of socio-economic benefits to local communities and their governments has prompted the new ways of management.

Actualización del software asociado a un sistema empresarial real en Django

El objetivo del TFG es ejectuar y documentar el proceso de actualizaci on de un sistema software real de car acter empresarial, perteneciente a la empresa dedicada a las transacciones de divisas Foreign Exchange Solutions SL. El sistema est a implementado en Python 2.7 usando el framework de desarrollo r apido de aplicaciones web Django que, comenzando por su versi on 1.3.1, terminar a al nal del proyecto en la versi on 1.4.10, lo que nos llevar a a tener que actualizar todas las librer as relacionadas, adem as de mejorar la calidad del c odigo e incluso cambiar la estructura del proyecto, prestando adem as especial atenci on a la pruebas unitarias y de regresi on para comprobar el correcto funcionamiento del sistema a lo largo del desarrollo. Todo esto con el n de conseguir las nuevas funcionalidades y caracter sticas que una versi on m as nueva nos ofrece, adem as de mejorar la calidad de la aplicaci on -aumentar la reutilizaci on del c odigo y reducir futuros errores gracias a un c odigo m as sencillo y legible-, aumentar el rendimiento, y obtener una buena cobertura de pruebas. Usaremos adem as la metodolog a agil Scrum, el SGBD PostgreSQL, adem as de otras herramientas como Solr, ElasticSearch, Redis, Celery o Mercurial para el control de versiones.

Sauvegarde et valorisation du patrimoine culturel immatériel du Sénègal: projet de création d'un écomusée des pratiques divinatoires et curatives

7 RESUME/ABSTRACT Au Sénégal, il existe des pratiques culturelles et cultuelles, séculaires que l’on retrouve au niveau de toutes les composantes ethnolinguistiques. Une donnée qui nous interpelle, chacun en ce qui nous concerne, et nous invite à repenser le devenir de nos spécificités et particularités culturelles face aux assauts répétés et multiformes de la modernité. La caractéristique qui entoure les rites et rituels est le plus souvent sujette à plusieurs formes d’interprétations fantaisistes et parfois dévalorisantes. Force est de reconnaître que le recours à la médecine moderne ne saurait pleinement répondre à ce besoin de tranquillité et de sérénité mystique qui habite chaque africain en général et chaque sénégalais en particulier. Il s’agit ici, pour l’africain et en ce qui nous concerne le sénégalais, de trouver une tranquillité psychologique et une assurance symbolique propres à créer les conditions d’une guérison physique et/ou morale. En ce sens que l’emprise du modernise ne peut aucunement influer totalement sur cette croyance ancestrale que bon nombre de sénégalais, et pas des moindres, ont en l’endroit de ces pratiques. Une prédisposition culturelle sous-tendue par des préoccupations cultuelles qui font l’objet d’une communion agissante entre les différents membres des communautés. Une prise de conscience qui se manifeste à travers des cérémonies ponctuellement organisées et présidées par des prêtres et prêtresses. Notre présente étude participe de la recherche d’un juste équilibre spirituel et temporel apte à offrir une possibilité de concilier les aspects traditionnels des spécificités culturelles de nos composantes ethnolinguistiques avec ce qui constitue les contraintes et exigences de la modernité. Il reste certes évident que cette opposition a généré une sorte de fracture culturelle en véhiculant une autre manière de voir, mais surtout de percevoir nos traditions et coutumes. Cependant à l’heure d’un redimensionnement et d’une adaptation contextuelle de ce qui constitue nos valeurs identitaires, il nous revient de procéder à une démarche de sensibilisation et d’explication pour conférer plus de lisibilité à nos expressions culturelles. La mise en place d’un écomusée des pratiques divinatoires et curatives, est un moyen moderne et pratique de sauvegarde et de valorisation des savoirs et connaissances thérapeutiques endogènes. Outre la création d’emplois et de revenus, cette infrastructure sera une vitrine du patrimoine local qui favorisera le développement d’un tourisme culturel source de devises et vecteur de développement local; ABSTRACT: In Senegal, there are cultural and religious practices, ancient that we find in all the ethno-linguistic components. A given that challenges us, each in our case, and invites us to rethink the future of our cultural specificities and characteristics and multifaceted face of repeated assaults of modernity. The characteristic surrounding the rites and rituals is usually subject to various forms of demeaning and sometimes fanciful interpretations. We must recognize that the use of modern medicine can not fully meet this need of tranquility and mystical serenity that inhabits every African in general and Senegal in particular each. This is, for Africa and for us Senegalese, find a psychological tranquility and symbolic own insurance to create conditions for physical healing and / or legal. In that the grip of modernizing can in no way affect totally on this ancient belief that many Senegalese, not least, have the place of such practices. A cultural predisposition underpinned by cultic concerns that are the subject of an active communion between the community members. An awareness that manifests itself through occasionally organized ceremonies presided over by priests and priestesses. Our present study involved the search for a fair balance spiritual and temporal able to offer an opportunity to reconcile the traditional aspects of the cultural specificities of our ethno-linguistic components with which constitutes the constraints and demands of modernity. While it remains clear that this opposition has generated a kind of cultural divide by conveying a different way of seeing, but above all to collect our traditions and customs. However at the time resizing and contextual adaptation of what constitutes our identity values, it is our responsibility to conduct an outreach approach and explanation to give greater clarity to our cultural expressions. The establishment of a museum of divination and healing practices, is a modern and convenient way to backup and recovery of therapeutic knowledge and endogenous knowledge. In addition to creating jobs and income, this infrastructure will be a showcase of local heritage that promote the development of cultural tourism source of foreign exchange and local development vector.

Empirical evidence of S-curves in the Colombian

The Marshall-Lerner condition, the J-curve and S-curve have emerged as theoretical and empirical foundations developed for the study of the interaction between exchange rates and international patterns of bilateral trade -- They have a significant bearing on thedevelopment of public policy, and are of equal interest to the academic and professional communities -- The most recently developed of these theories, the S-Curve, is named after the theorized short-run behavior to be found in the cross-correlation function of the real exchange rate and the trade balance -- Considering this theoretical context, the paper seeks empirical evidence of the existence of the S-Curve in the bilateral trade in commodity and non-commodity goods between Colombia and the United States and Venezuela, its main trading partners, for the yearly quarters between 1994:1 and 2009:4

LA POLÍTICA MONETARIA ANTE LA CRISIS

Resumen La actuación del Banco Central frente a la crisis ha sido objeto de críticas constantes por distintos sectores del país, pues su accionar se considera pobre e inclusive equivocado. Los problemas de la gestión de la política monetaria no son recientes, iniciaron en el 2006 con la implementación del sistema de bandas cambiarias. El sistema como tal no tiene fallas, sin embargo, las autoridades han cometido errores importantes en su aplicación que dificultan adoptar medidas anticrisis en el presente. Una política monetaria procíclica es quizás el principal problema que enfrenta el Banco Central, que en la actualidad afronta una fuerte contracción de la economía costarricense y no ha creado las condiciones para aplicar medidas paliativas. Adicionalmente, el Banco aún no reconoce la contradicción de sus medidas y pronto deberá enfrentarse a una disminución de las tasas de interés y un ajuste del tipo de cambio. Abstract The Central Bank's performance against the crisis has been the subject of critics by different economic sectors, because its performance is considered poor or even wrong. The problems of management of monetary policy are not recent, initiated in 2006 with the reform of foreign exchange policy. The system itself has no faults, but the authorities have made mistakes in its implementation that difficult the anticrisis action. A procyclical monetary policy is perhaps the biggest problem facing the Central Bank, which now faces a sharp contraction in the Costa Rican economy and has created the conditions for implementing mitigation measures. Additionally, the Bank still does not recognize the contradiction in their policies, and must soon face a reduction in interest rates and exchange rate adjustment.

Understanding import diversification: an empirical analysis

This paper analyzes import diversification in an aggregated perspective -- Using a dataset for 60 countries covering the period 1995-2010, we study the main determinants of import diversification -- We expect to contribute to the current literature, taking into account that there have been few empirical studies addressing import diversification and more specifically, at the cross-country level -- We take into account variables classified into four categories: Structural factors, macroeconomic factors, international trade factors and political factors -- We find robust evidence that total factor productivity (TFP), capital stock, real Exchange rates and terms of trade are key drivers of import diversification -- On the other hand, domestic consumption and trade openness exert an effect leading to import concentration -- We interpret this finding, taking into account the theoretical framework provided by the international trade and growth theories

Reporte financiero Burkenroad / Latinoamérica – Colombia Avianca Holdings S.A.

La recomendación de compra expuesta y el valor estimado de la acción para los próximos 12 meses se sustentan en los siguientes aspectos -- El crecimiento esperado en los próximos años en el transporte de pasajeros en la región donde principalmente opera Avianca Holdings (Latinoamérica), las inversiones de capital proyectadas por la empresa en materia de flota y eficiencia, la capacidad demostrada para mantener sostenidamente altos índices de ocupación, el posicionamiento de la marca y las estrategias concebidas al interior para reducir costos y gastos -- No obstante, a pesar de los logros obtenidos por la empresa en temas como la distribución de los ingresos y la estabilidad en los índices de ocupación, tras evaluar los resultados del análisis de sensibilidad al que se sometió la valoración realizada, debe aclararse que el alto grado de incertidumbre que caracteriza algunas de las variables determinantes de los resultados de la empresa, como el precio de los combustibles fósiles y la tasa de cambio, hacen que el valor de la acción pueda diferir de lo aquí estimado con un nivel de probabilidad considerable -- Esto hace que la recomendación de compra se adapte mejor a un perfil arriesgado de inversión

Re-imagining China's future : soft power, cultural presence and the East Asian media market

As various contributors to this volume suggest, the term soft power is multifaceted. In 2002 Joseph Nye, the political scientist who coined the term more than a decade previously, noted that the soft power of a country rests on three resources: a country’s culture, its political values, and its foreign policies (Nye 2002). However, several factors can be drawn together to explain China’s adoption of this concept. First, China’s economic influence has precipitated a groundswell of nationalism, which reached its apex at the Opening Ceremony of the 2008 Beijing Olympics. This global media event provided an international platform to demonstrate China’s new found self-confidence. Second, cultural diplomacy and foreign aid, particularly through Third World channels is seen by the Chinese Communist Party leadership as an appropriate way to extend Chinese influence globally (Kurlantzick 2007). Third, education in Chinese culture through globally dispersed Confucius Institutes is charged with improving international understanding of Chinese culture and values, and in the process renovating negative images of China. Fourth, the influence of Japanese and Korean popular culture on China’s youth cultures in recent years has caused acute discomfit to cultural nationalists. Many contend it is time to stem the tide. Fifth, the past few years have witnessed a series of lively debates about the importance of industries such as design, advertising, animation and fashion, resulting in the construction of hundreds of creative clusters, animation centres, film backlots, cultural precincts, design centres and artist lofts.

Foreign Capital and Finland : Central government's first period of reliance on international financial markets, 1862-1938

The main objective of the study is to evaluate the Finnish central government s foreign borrowing between the years 1862 and 1938. Most of this period was characterised by deep capital market integration that bears resemblance to the liberal world financial order at the turn of the millennium. The main aim is to analyse the credit risk associated with the state and its determination by evaluating the world financial market centres perception of Finland. By doing this, the study is also expected to provide an additional dimension to Finland s political and economic history by incorporating into the research the assessments of international capital markets regarding Finland during a period that witnessed profound political and economic changes in Finnish society. The evaluation of the credit risk mainly relies on exchange-rate risk free time series of the state s foreign bonds. They have been collected from quotations in the stock exchanges in Helsinki, Hamburg, Paris and London. In addition, it investigates Finland s exposure to short-term debt and Moody s credit ratings assigned to Finland. The study emphasises the importance of the political risk. It suggests that the hey-day of the state s reliance on foreign capital markets took place during last few decades of the 19th century when Finland enjoyed a wide autonomy in the Russian Empire and prudently managed its economy, highlighted in Finland s adherence to the international gold standard. Political confrontations in Finland and, in particular, in Russia and the turbulence of the world financial system prevented the return of this beneficial position again. Through its issuance of foreign bonds the state was able to import substantial amounts of foreign capital, which was sorely needed to foster economic development in Finland. Moreover, the study argues that the state s presence in the western capital markets not only had economic benefits, but it also increased the international awareness of Finland s distinct and separate status in the Russian Empire and later underlined its position as an independent republic.