Process and Content Theories of Motivation Essay

There are several process theories of motivation: The Vroom Expectancy Theory, the Adams’ Equity Theory, the Needs-Goal-Setting Theory, and the Reinforcement Theory of Motivation. Here our centre of attention is on helping you make a clear-cut distinction between process and content. Basically, process theories of motivation focus on how workers needs influence their own behaviour. Here our attention goes beyond motivation, our focal point is on giving you a key conceptual tool to help you manage both the performance of your direct reports (management) and the performance of your entire organization (leadership). â€Å"Process† is how employees work together, as opposed to the what – the â€Å"content,† the task, the issue – they are working on. An example of â€Å"process† is the way in which people interact with each other during a meeting; on the contrary, an example of â€Å"content† is the decision they make in that meeting. Process is hiring (the hiring processes that a company practices); content is the selected candidate that becomes the new employee. Process is the nature in which day-to-day performance conversations take place between the manager and her direct reports; content is what gets talked about, agreed upon, and actually understood. Process is the way in which people interact with each other in order to solve a problem; content is the actual solution to the problem. Most executives have the unconscious tendency to focus on content – which is great, that’s what they get paid for – but unfortunately most executives also have the unconscious tendency to forget about the process they are using. However, the quality of the â€Å"process† that is used (the type of meeting that is used to make a decision for example), has an impact on the quality of the resulting â€Å"content† (if the meeting is poorly designed, the quality of the resulting decision is likely to be poorer, but if the meeting is well designed, the quality of the resulting decision is likely to be better). Again, the better the process used, the better the resulting content, and vice versa: The poorer the process used, the poorer the resulting content. Do the people in your company hate meetings because they spend too much time in them? The problem is not in the meetings themselves, but in the way your company runs those meetings. Does your company have several low performers? The problem is not in those poor people who perform below standards, but in your company’s management practices. Is your company lagging behind its competition? The problem is not in those high performing organizations, but in the leadership skills of your company’s leaders. The process by which a company is led and managed determines its long-term success.heori of Motivation A great company is successful in the long run not because of its great products or services, but because of the nature of its leadership and management processes. You can have the greatest product or service, but if you don’t have the appropriate management and leadership processes, your company won’t get too far. It’s that simple. The next time something doesn’t go as you wanted it to go, stop for a second, step back, get your focus off the content, and take a closer look at the process you are using. How can you improve the process that you are using?

Fences Baseball Essay

Fences by August Wilson is a play full of baseball imagery, which is key to understanding the writing. Being a play the reader must interpret the scenes from emotions, setting, tone, and interpretation. This gives them insight to how August Wilson wants to portray the book. Being a white man writing from the perspective of a poor black man he sends the reader back into a time where blacks were inferior. They were pushed into a life where they could never climb the social ladder in sports or work. Troy being a former baseball player holds resentment towards the world and becomes bitter over the years. He has experienced injustice for many years and this has had a toll on him. Troy has the power to future to look at the situation differently but falls into the victim roll. Foreshadowing from the first scene of the play Troy’s has arrogance toward death leads to his death in the last scene with a baseball bat in his hand. The play is based around Troy’s love for baseball a nd how characters compare it to life situations. â€Å"Death ain’t nothing but a fastball on the outside corner†(1.1.82). Troy seeing his life as a baseball game compares a fastball to death. During Troy’s life he encounters an experience that supposedly brings him close to death. This may not actually be the case due to Troy’s practice at telling stories, but its importance is from the idea of a perfect pitch. Troy’s sees this perfect pitch as a homerun, showing the reader that Troy likes to bring drama to any situation. Troy being a former baseball player reverts to old ways when he was playing, he never made it to the big leagues and holds resentment. By never growing from his baseball years, he approaches every situation as if he is in a game. Troy introduces his tale early in the play giving the reader a chance to understand his character. â€Å"You got to take the crookeds with the straights. That’s what Papa used to say†(2.5). Lyons makes this remark to Cory, the son of Troy at the play in Act 2. This is significant because this is Lyons can finally understand and relate to Troy. Lyons has a metal plate in his head and has disabilities which cause him to make poor dictions and go to jail numerous times. Troy kept paying of the judge to get him out of jail and there was a part in the play where he remarks saying that he didn’t care what happening to Lyons. Being his brother Troy and Lyons have tensions in their relationship and this when Lyons makes an important connection to Troy. By being able to see that they were both very similar in their life dictions which connect them. Though this is a sad moment in their relationship, Lyons sees that they have never accomplished their dreams. I interpret the quote meaning that even though there are good times and bad ones, one must take them both. I belie ve you cannot experience happiness without struggle because then there wouldn’t be any separation between the two. By being able to distinguish the two one can become a better person because we can learn to deal with it better. â€Å"We’re not talking about baseball! We’re talking about you going off to lay in bed with another woman†¦ ain’t talking about no baseball†(2.1.121). Rose finds out Troy’s affair with Alberta and becomes upset with Troy’s response to her. Troy doesn’t see cheating on Rose as a problem and only sees what he is doing as a game. The problem is that he isn’t playing in a baseball game anymore and he is affecting his family. Troy’s waists his eighteen years with a woman he has loved, only to get Alberta pregnant and she dies due to complications during the pregnancy. Troy feels no regret and sees Alberta as an accomplishment because he was able to â€Å"steal second†(2.1.118) while he was still married. While his wife Rose sees it as being selfish and not thinking of her or her feelings during his affair. â€Å"They got lots of colored boys playing ball now. Baseball and football†(1.1.76-1.1.77). In the beginning of the novel the Troy’s wife, Rose and best friend, Bono and trying to convince that times have changed sense he played baseball. Their son Cory is trying to get recruited for football and Troy doesn’t believe he will be able to make a living to support himself being a black football player. This causes friction and tension between the couple because of their mixed views. Troy cannot get over his personal problems and drags him to his relationship with Cory. Instead of being supportive of his child, but pretends to be concerned, only being selfish from his experiences. Troy hates the thought of his children doing better than he ever did, being suppressed by the time he is in poverty. Cory resents him because Troy was in jail and was not there for his childhood, as a result Cory does not feel as though his father should have a say in his life. â€Å"You [Cory] swung and you [Cory] missed. That’s strike one. Don’t you strike out!† (2.4.58). Cory does not believe that he did anything wrong by quitting his job and as a result of a football career. Troy believes that Cory will also be cheated and segregated from the whites. Only because Troy is being stubborn and this is his perception of what will happen to Cory. Troy doesn’t know how to describe his feelings and he uses a baseball reference to release his anger. The problem is that he still holds on this anger which is self destructive. Then Cory strikes out two times by protecting his mother. Troy refuses anything that is not his own opinion because of his own rejection from his opportunities turned down by baseball. â€Å"If you going down†¦you going down swinging† ( 69). Troy tries to explain his life and diction making. This quotation shows how Troy is trying to justify his actions to Rose. He cannot get through to her using his baseball innuendos to make his actions seem less serious. Troy needs to look at Rose and apology for what he has done, but Troy sees his actions as laughable. He cannot take what he has done serious because he has hit a home run. This is his way of making up for the past this is his own reason to keep her in his life because she is a distraction from his life. He replaces baseball with Alberta, in the sense he feels â€Å"safe† when he is with her and creates a relationship based on hitting a home run. Putting his runs on the board is how he looks at winning in life instead taking a step away from his delusional life with Alberta. â€Å"They got a lot of coloured baseball players now. Jackie Robinson was the first. Folks had to wait for Jackie Robinson† (10). Troy blaming another person for his failure, he is not capable of taking responsibility for his own problems. Thinking till the day of his death Troy was robbed of a life he could have died he cannot get over the fact that he will never get that life back. Jackie Robison is his scapegoat and wants to give the credit of being the first black baseball player, but his jealously takes him over. He talks about how Jackie wasn’t even a good ball player instead of looking why the major leagues picked him to the first man. It was because of Jackie’s strength and hitting record that one man when out on a whim and took him in.

Budgets Essay Example for Free

Budgets Essay Essay Topic: Budgets Choose cite format: APA MLA Harvard Chicago ASA IEEE AMA company About StudyMoose Contact Careers Help Center Donate a Paper Legal Terms & Conditions Privacy Policy Complaints There are certain elements that are to be considered in studying and defining the budget, especially in the field of public administration. These elements include economic, political, and ideological concerns that affect the processes budget goes through. A fourth element that defines budget is societal concerns, which proves to be an important factor for the success of the budget. The budget is said to be economic such that it paints a picture where there is a supply and demand. The supply of funds available for the organization would likewise be met by a demand by its components. The scarcity in funds, as is mostly the situation for finite resources, results to the competition of the different departments for their share in the budget. On the other hand, the political and ideological concerns would mostly be found in the budget process as reflected by the final appropriations. The debate that it has to go through in the respective legislative bodies entails a political and ideological working where each actor would pursue their interests. The last component is the concern for societal welfare. A budget, no matter how big, if it is hounded by cold gigantic infrastructures is said to be a failure. It is important that behind every amount pursued for in the budget, there should be a corresponding impact on raising the quality of life of the people for whom it is intended for. The elements of the budget? economic, ideological, political, and societal? are important elements that play several important roles during the existence of the budget and will continue to serve their purpose to make an effective appropriation. Budgets. (2016, Oct 31).

English Study Essay Example | Topics and Well Written Essays - 250 words

English Study - Essay Example I want to let you know that l have met with Dr. XXX and we have discussed my courses for next spring. Also, we have talked about my plan for the dissertation, but our conversation did not end with a particular topic. I do not have a clue yet about the topic I want to research on. Do Arabic learners need to learn the syllable patterns of Arabic and English? Will they be able to pronounce English sound or word appropriately, or intelligibility? Why does Arabic speaker sound like a foreigner? If the Arabic speaker masters English prosody, do they have a native accent of English? Does mimic or video help Arabic learner of English to be as native as different between Arabic and English prosody?Training Arabic learners to place more emphasis on the pattern of the English syllable helps to eliminate the chances of predicted errors. This can be achieved by introducing short syllable patterns and then long syllable patterns in English. In order to achieve this, it is crucial to focus on answe ring questions like: How can we make Arabic learners of English as sound native-like or sound good? How to improve their accent? Does learning prosody make them sound as native-like?Why do Arab learners often make this mistake in this particular sound of English? Is there a solution, tools or technique to help them reduce the error? Is shadowing a good learning technique for fluency and developing native-like prosody?Video and mimic can be good to master prosody. As you can see, I have random ideas and thoughts but all of them are under phonological aspects.

What determines the research and development costs for innovative new PowerPoint Presentation

What determines the research and development costs for innovative new prescription drugs, how might legal and ethical considerations affect the cost of developing a new prescription drug - PowerPoint Presentation Example As a function of describing and critiquing each of these constraints, this author will analyze each of these factors and attempt to draw a clear level of discussion as a means of identifying the core components and key considerations that must be engaged with as a function of the developmental cycle for new/prospective pharmaceuticals. As a guiding entity of the process, the legal departments of the requisite entities must be continually engaged and aware of the process. This represents an added cost and necessity that each and every pharmaceutical firm engaged in research and development must necessarily incorporate a team of legal experts and lawyers to guide them through each and every process of clinical trials, reporting requirements, paperwork, and associated compliance issues. Ultimately, economic theory dictates that that price discrimination corresponds to the following three market conditions: the power of market sellers, the segmentation and overall price responsiveness of the market, and the direct and indirect potential that exists for arbitrage. With respect to market power, this is a concept which can simply be understood as a function of the ability of the seller to raise its prices as compared to the other sellers that exist within the market. Obviously, in the case of a brand name drug that has r ecently been cleared by clinical trials and is available to the marketplace, the ability of the seller to raise his/her prices above that of the competition is very high due to the fact that no perfect substitute exists and there is a near perfect monopoly engaged by the given pharmaceutical manufacturer; albeit for a limited amount of time (Gupta et al 2011, p. 15). As a way of understanding such a construct to a more full and complete level, the researcher and/or reader must consider the total cost that is necessitated in bringing a drug to market in the first

Foreign Direct Investment Research Paper Example | Topics and Well Written Essays - 2500 words

Foreign Direct Investment - Research Paper Example Acquiring equity interest in foreign countries is considered to be the most effective and easiest form DFI. From a pure financial perspective, acquiring equity interest in companies which does not give controls over the financial decisions of the local entity is not considered to be an effective FDI. By acquiring the controlling interest in a local company, a foreign country has an opportunity of obtaining strategic advantage. Another form of DFI, which has been gaining a lot of attention lately, is licensing and technology transfer between organizations. With the advancement in science and technology, the MNCs are now investing heavily in Research and Development (R&D) in order to devise cheaper, more effective and efficient ways of production. Through licensing and technology, organizations are entering into alliances with foreign entities, even academic institutions, which have brought significant advancement in the fields of medical, food and agriculture, digital media production , robotics and information technology communication. Licensing agreements are lucrative and beneficial for the companies as it allows them to take full advantage of the latest technologies and advancement, without having to expose themselves to the risk of failed R&D investments. Readymade ideas and innovations are on the shelves, and all the organization has to do, is to pay royalty. Organizations, particularly MNCs, indulge themselves in FDI bearing a defined set of motives into consideration. Enhancing profitability and shareholders wealth, reducing cost of production and improve the method of production are few. Broadly, the reasons for doing DFI can be divided into two categories; Revenue related motives and Cost related... Organizations, particularly MNCs, indulge themselves in FDI bearing a defined set of motives into consideration. Enhancing profitability and shareholders wealth, reducing the cost of production and improve the method of production are few. Broadly, the reasons for doing DFI can be divided into two categories; Revenue related motives and Cost related motives. Considering its revenue related motives, a company has to constantly evaluate the potential of its current market in order to identify whether it has been saturated to an extent where the derivation of additional revenue is impossible. These situations often arise when there is intense competition in the home country and the growth of the company has reached its threshold. In order to survive and operate profitably, the organizations then seek other horizons. Countries such as China, India, South Korea and Malaysia are few which have been attracting foreign investors lately. With the passage of time and international trade becomi ng more and more regulated, the trade barriers have been abolished and consumers of developing countries are being benefited. A Foreign market can be proved to be profitable in cases where the factor of production in the organization’s home country is expensive. Race for new and advance technology is becoming more vicarious among the giant MNCs. It is quite apparent that the organizations which are heavily technology driven are performing at a better pace when put in comparison with their competitors.

Learning, Coaching, Development Essay Example | Topics and Well Written Essays - 2500 words

Learning, Coaching, Development - Essay Example Thus the training program would be differently focused as now teaching, helping, guiding, and developing the employees would be given attention such that the multi channel strategy can successfully be implemented. Employee development is an essential aspect of any business organization that is carried out by the Human Resources Team of the organization. Development and hence training is essential as it helps the employees to improve upon their skills and effectiveness (Werner and DeSimone 2011). Individual learning and development have always proved to be beneficial for organizational employees who become more committed, responsible, and motivated to their tasks followed by such training program. Organizations thus find it an essential part of the HRM processes to include training processes, particularly focused on learning and coaching, for development of employees (Park 2007). Based on the case study and the need for the organization to develop its employees towards the use and imp lementation of multiple channel communication for their business, a four weeks training program will be developed, along with discussion of the different stages of the training cycle, and the impact of learning and coaching on development of employees. 2. Identification of Training and Development Needs: When training and development is considered within an organization, there are individual roles and responsibilities of the organizational managers, the professionals of the HR team, and the employees (Jackson, Schuler and Werner 2011). The basic roles and responsibilities can be outlined as follows: Managers need to understand the developmental needs of the employees and cooperate with the HR team to implement the necessary training measures. They need to encourage the participation of the employees in the program and offer the learning and coaching techniques to them thereby participating and giving effort in the program (Jackson, Schuler and Werner 2011). The HR professionals need to coordinate with the managers and determine the employee needs for development. Accordingly, the training program needs to be planned and implemented followed by evaluation. To communicate with the employees, and administer the program involving complete participation of the employees, are the responsibilities of the HR team (Jackson, Schuler and Werner 2011). The role of the employees is to understand the organizational objectives, and hence realize the need for their development of skills and effectiveness. Based on their understanding they need to cooperate with both the managers and the HR team to successfully implement the training program. The learning and coaching offered to them by their managers and HR team need to be considered as opportunities for them to enhance their positive skills (Jackson, Schuler and Werner 2011). 2.1. Basic Skills and Competencies for Call Canter Work: Call centers have emerged to be significant development for organization of white-collar works . Several businesses are now outsourcing their works and call center proves to be a major development

Contemporary marketing Assignment Essay Example | Topics and Well Written Essays - 1000 words

Contemporary marketing Assignment - Essay Example With such keen interest in building a strong brand, two issues usually come up. One has to do with the components of a strong brand and the other has to do with ways of developing a strong brand (Farris et al., 2010). While customer loyalty is mainly described by what individuals do, brand loyalty usually is defined by the feelings and impressions of individuals (Dawes, 2009). A number of global brands can boast the kind of loyalty and passion shown by generations of certain companies like Disney. Disney Company is going to be the basis of this paper on which examples will be drawn on how the company has come up with strategies to build a strong brand that leads to increasing customer retention and loyalty. For more than eighty years, the company has experienced and maintained a lasting and comfortable position in the market. There are numerous reasons as to why the company has managed to be as so, but one of the main reasons is because of the creation of a strong brand (JZMcBride an d Associates, 2011). This document will scrutinize various ways through which Disney Company has built a strong brand, which has helped the company retain millions of customers and their loyalty thus increasing profits. The paper will cite specific examples of how the company has managed to do this. There are different ways through which Disney is able to keep its customers happy and loyal. One of the ways through which the company has accomplished this is through the creation of a brand promise. The company has been able to narrow down its promise of brand to a single action, which is using heart to entertain (JZMcBride and Associates, 2011). Studies suggest that loyalty includes some level of pre- dispositional commitment in a brand. Loyalty to a brand is seen as a construct that is multidimensional. Such loyalty is dependent on a number of distinct psychological processes and it involves a number of measurements, the perceived value of customers, trust in brands, satisfaction of customers and commitment are all thought to be key influencing entities of loyalty to a brand (Fournier, 2007). As it follows, the strategy of Disney to use heart or feelings in entertaining the customers fulfils all these requirements and ensures that the company maintains the loyalty of its customers. Another way the company builds its brand and retains customers is by controlling its brand. By being true to its brand in numerous ventures is what differentiates the company from other brands in the market. For instance, the company owns ABC, which broadcasts numerous programs. For instance, ABC broadcasts a show Called Pan Am that is based on the lives of individuals in the 1960s. One thing that one notices is that the show does not include scenes of smoking even though they were increasingly common during this time. This shows that the company wishes to stick to its promise of broadcasting shows that are family friendly (JZMcBride and Associates, 2011). According to a number of st udies, commitment to behaviour of repeated purchase are considered as necessary elements for creating brand loyalty and customer loyalty, followed by satisfaction, perceived value and brand trust. Several scholars claim that enhancing customer

Auscultation and Spirometry Lab Report Example | Topics and Well Written Essays - 250 words

Auscultation and Spirometry - Lab Report Example Therefore, it is necessary for the lab partner to expel as much air as feasible through this process in order to determine the exact expiratory volume. The tidal volume of an individual is the amount of air that an individual can move in the lungs during the breathing procedure (Marieb & Hoehn, 2010). According to the information, the tidal volume is approximately 500ml. Approximately 340ml reaches the alveoli while the rest of the air remains in the respiratory tract. However, this breathing procedure is heavily affected by factors such as exercise, weather conditions and medical conditions. In addition, there is a residual volume of air that keeps the respiratory system partly filled. COPD is an initial for the term chronic obstructive pulmonary disease (Marieb & Hoehn, 2010). As previously stipulated, the tidal volume usually represents the volume of gas that is exchanged during every single ventilated breath. However, individuals with COPD are not able to exhale all the air in a single breath. Therefore, the tidal volume in these patients depends on the lung condition of the patient. In normal cases, individuals have a tidal volume of 5 to 8 mL/kg. In a normal individual, approximately 70% of the forced vital capacity is expelled. However, individuals who suffer from COPD produce a less ratio (Marieb & Hoehn, 2010). The severity of the conditions vastly affects the vital capacity of the individual. This asserts that individuals with the COPD condition produce a lower percentage of vital capacity due to complications in the respiratory

The Benefits of Training Hotel Employees Research Paper

The Benefits of Training Hotel Employees - Research Paper Example As a function of this, the need to train and change with the determinants that define the current model of business becomes clearly manifest. Moreover, for purposes of this brief analysis, the author will seek to integrate an understanding and appreciation for the means by which training within the realm of the hospitality industry is both necessary and intimately linked to the future performance of whatever organization or team integrates with a productive source of training. As a means of integrating an appreciation and understanding of the importance of training within the hospitality industry, this analysis will consider and discuss the means by which training can improve the key skills, conflict resolution capabilities, and client retention rates that an entity might seek to engage. Finally, a list of concerns that a given entity or organization should consider prior to engaging in training will also be enumerated and elaborated upon as a function of allowing the reader to see s ome of the common pitfalls that many within the field of business development fall prey to. One of the primary factors that comes to the mind of the reader when they hear the term training or seek to explain the importance that such a construct can bring to a given entity or organization, one of the primary thoughts that is entertained has to do with the level to which training can seek to impart a new skill set within the shareholders of the organization/entity. This is very much true with the hospitality industry as well. For instance, whereas basic consumer relations, phone etiquette, and best practices can be instilled within the culture of the organization and passed down from employee to employee in something of a seemingly unbroken line, these are virtues and factors of the company’s culture that are somewhat immutable (Sobaih, 2011). On the topic of

An Indian Muslim Wife Essay Example for Free

An Indian Muslim Wife Essay Religion plays an important part in family and society in most of the Muslim societies. Muslims and Christians are spread throughout the world and the puritanical Christian and Muslim wife based in the concepts of scriptures of both religions may be a part of the books only [Rashid, 2007]. Cultural influences, economic conditions and varying influence of religion in the society means that a Muslim wife of one society is not subject to the same kind cultural practices throughout the world. An Afghan or a Saudi Arabian woman is more likely to follow the local religious practices of modesty and veils, while most Muslim women in India only have to observe a modest dress code. The very traditional families or families of religious scholars may still observe the hijab, a dress similar to that worn by Catholic nuns [Women, Islam Hijab, 2007]. For the information given here, I contacted a few of Indian women in my locality and they happened to be of Muslim religion and agreed to share their knowledge and experiences with me [Indian Muslim Wife, 2007]. The first thing one hears in these conversations is that ‘there is no such thing as a typical Indian Muslim or Hindu Wife’. The society in many of the developing countries has vast difference between the rich and the poor, and there is also a fast developing middle class. The very rich have become largely anglicized and the English medium public education under the Cambridge/Oxford based schooling system has given them the perception of family life very similar to that of a European or American family. A few characteristics common to all Indian Muslim families are importance of family life, providing protective environment for the children, fidelity in marriage and finding spouse of Muslim faith. The Muslim wife of a rich Indian family is well provided for. She is normally well educated and even if she is not involved in her own career or business, she has to accompany her husband to social parties; she does not drink even if the Muslim husband has given up practicing the prohibition imposed by religion. A Muslim Indian wife is expected to be faithful to her husband. The pressure of the society is such that even if men were to astray, the wife risks the risk of being ostracized if she indulges in any such activities. Indian Muslim families normally have to live in an extended family. Looking after the parents is responsibility of the male children of the family. It is almost given that she any Muslim woman will have her in-laws living in the same house. Depending on their nature, it may be blessing to share a house with in-laws as a number of women can go out more freely to pursue their career or to attend the social functions while the elder members of the family can look after the children. Most rich Indian Muslim women can hire servants and only have to supervise the household responsibilities. The middle class Muslim Indian wife has many more problems. The man is the breadwinner and the woman looks after the house, brings up the children, looks after the in-laws if they are old and infirm and makes ends meet in relatively moderate income. The Indian middle class society is rather conservative and the religious restriction placed on Muslim middle class women due to conservatism restricts the freedom of movement, ability to work, choice of professions for women in the middle class Muslim families is also limited. The traditional families prefer to keep the women at home or if they have to work professions such as teaching, medicine and assisting family members in their business are preferred. The poor Indian Muslim wife probably suffers the most. They are married off at an early age by marriages arranged by their parents. Low income of the family means that Indian Muslim wife from a poor family has to work hard often in poor paid jobs as domestic servant or on farms. The full day work, however does not reduce her responsibilities at home as she has to do all the household work, cooking cleaning, looking after the husband and children and in laws too. The poverty-stricken family has to stay in huts or semi constructed houses in shantytowns and suffers all the problems of poverty. The Muslim Indian women are brought up in traditional ways and given Islamic as well as normal education. Divorce rates among Muslims are very low. This may also be a result of the problems in the society. Divorce carries some stigma, the women are allowed to re-marry and the young divorcees normally do. The pressures on families are economic, social and emotional. Break-up of family deprives the woman of financial support, women if they do not re-marry are not free to socialize or date as openly as in Europe/America.

File transfer protocols Essay Example for Free

File transfer protocols Essay File transfer is the process of transmitting complete files from one computer to another. To achieve a successful transfer, both sending and receiving devices must establish the protocol (set of rules) by which they will communicate. Various protocols are commonly recognised but they vary in their performance and suitability for particular tasks. Some examples are described below. FTP File Transfer Protocol (FTP) allows large amounts of information to be transferred between computers very conveniently. FTP originated with the UNIX operating system and was to transfer files of all types between remote computer systems. A popular application of is for the uploading and downloading of Web site pages. ASCII This is only appropriate for text files, which contain no control characters. Thus it cannot be used to transfer files produced with a word processor, spreadsheet or graphics package. Neither can it transfer command (COM) or executable (EXE) files, or files in compressed (ZIP, for ex) form. Apart from this, the protocol is not good at controlling errors. Xmodem A file-transfer protocol used for asynchronous communications. It is commonly used in communications packages. The Xmodem protocol transfers data in blocks of 128 bytes, giving each transmitted frame a sequential block number; this number is used to identify the location of errors. A checksum (see Block Check Characters) is attached to each block to check transmission errors. Its ability to find and correct errors makes it suitable for the transfer of files, which must retain their integrity, such as program files. Zmodem Is one of the most advanced protocols, being much faster than Xmodem. Its error correction controls are absolutely reliable. CCITT V42bis. This protocol includes a data compression (through encoding, data is reduced in volume) technique and error detection and correction. Both the sending and receiving modem must possess the error correction facility. Implementation Top Down implementation is one way to achieve implementation of software. This involves coding, testing and debugging each module in turn starting with the top level and working down. This means that each new module fits naturally into the module hierarchy. Starting with the control module i. e. Songs; we code, test, debug and retest it etc. This involves calling Set_Up, Process_Votes and Menu, even though these have not yet been coded. Therefore, we create test stubs to ensure that we can test that the Songs module achieves its function. A Test Stub can simply consist of a statement which will display a message showing that the module has been called correctly, or it may consist of a set of statements which simulate the operation of the module in order to return results to the calling module which is under test. At this stage, the program would look like this Program Songs(Input, Output); Plan should be constructed which indicates an incremental development where each module is to be tested in turn, with appropriate test stubs. For each test, expected results should be noted. A Test Log indicates the results of each test run, whether the test is successful or not. If a test is successful and an error has been discovered then the code should be redesigned, amending pseudocode, recoded and retested. Total_Votes In 3. Narrative Description No Module Description 0 Songs Calls Set_up to set up the table, Process_Votes to read votes from the keyboard and Menu to offer options. 1 Set_Up Calls, in turn, Initialise and Load. 2 Process_Votes Reads in votes from the keyboard and increment the appropriate total. 3 Menu Displays menu, accept choice, and call appropriate modules Display or Report 1. 1 Initialise Initialises all entries of the table. 1. 2 Load Reads in the song details from the file and store in a table. 3. 1 Display Displays the number of votes for an input song. 3. 2 Report. Displays the percentage votes for each song. Subprogram. Stepwise Refinement is a process which takes an initial solution to a problem and refines each step until the algorithm is detailed enough for implementation in a suitable high level language. Level 0 Level 1 Level 2   Since programs can become very large and consequently can involve a number of programmers in the development process, it is useful to have a way of splitting up a program into components each of which can be handled separately. This uses a facility called a subprogram. The process of developing a solution as a collection of interconnected subprograms is called Modular Design. Each module has a single complete function and is implemented using the particular subprogram facilities of suitable high level languages. Pseudocode Each programmer can be allocated a separate module / group of modules to work on in isolation. Each module may call lower level modules. A module may be called from more than one other nodule. Programmer A Programmer B Programmer C   A subprogram is a way of grouping together statements which havea common purpose i. e.all statements help to produce a singleobjective. They allow a natural way of dividing an algorithm intoparts where each individual part can be handled separately andcarries out a single task for the problem. This is a natural extension of the philosophy of stepwise refinement where subprograms may be executed in sequence, be part of a selection or be iterated. A subprogram can be thought of as a small program which can carry out any of the functions of a program. A subprogram is called when it is needed, executed and then the processor returns control to the place where the subprogram was called from. Although subprograms can be developed in isolation, by separate programmers, they have to communicate with other subprograms in the system, particularly, with regard to the data which is shared between a subprogram and its caller. Subprograms communicate with the calling program through a well-defined interface which specifies the data being shared between the calling program and the subprogram. The interface allows the processor to suspend the calling program, transfer control to the subprogram and pass any data specified down to the subprogram. Once the subprogram finishes executing, then the interface communicates any required data changes back to the calling program and returns control to the main program at the line immediately after the subprogram call. A subprogram may be called any number of times within a program. The subprogram heading specifies the subprogram name, the type of each piece of data which is expected and the nature of each piece of data, i. e. whether it is simply to be passed down in order to aid the function of the subprogram or whether it. is a value which is being changed or calculated as part of the function of the subprogram. A piece of data which is being passed to/from a subprogram is called a parameter. A parameter has an associated data type e. g. integer. A parameter can be specified as either value (reference) or variable depending on whether the subprogram is allowed to change the parameter value permanently. This allows the program to protect certain parameter values against accidental change. e. g. Subprogram Add_Nos(Numl, Num2 : Integer; Var Result : Integer) Here Num1 Num2 are value parameters therefore the subprogram will expect to receive input values for each of these parameters every time the subprogram is called. These values can be supplied either as variable values or constants. e. g. Call Add_Nos Using Numi, Num2, Result Call Add_Nos Using 5, 6, Result Result is a variable parameter and therefore the subprogram will change/calculate a value which is to be returned to the calling program. Thus the subprogram will expect to receive the name of a variable of the required type where it is to store the returning value. The subprogram call must contain a data value (of a suitable type) for each corresponding parameter in the subprogram heading. When a subprogram is called the data values in the subprogram call (actual parameters) are passed down to the corresponding data values in the subprogram heading (formal parameters). Since a subprogram can be used more than once within a system then it is necessary to allow different names to be used for formal and actual parameters. e. g. Call Add Nos Using Nol, No2, Result Exercise Design an algorithm which will input 2 integer values, display a menu, read a choice and call an appropriate subprogram to add, subtract, divide, multiply these numbers returning the result of the calculation. The Systems Development Cycle System Testing and Implementation Implementation is the stage where the system design is converted to a working system. This is arguably the most important stage of systems development, since a well designed system which is poorly implemented may. fail, whereas a badly designed system which is well implemented may survive. The key to success is in planning for the implementation early in the design process, the main issues to be considered being :- ? site preparation ? hardware/software procurement ? system testing ? user education and training ? changeover ? Outcome 6 of the Systems Development 2 Unit includes system testing, user education and training and changeover, and these topics are outlined in the following sections. System Testing System testing ensures that the system works accurately and efficiently before it is put into live operation. All clerical and computer procedures are tested. Programs are tested individually and then in groups to verify program linkages. Hardware and communications links are also tested. The final stages of testing are the system trials involving user staff, this also being part of user training. Test data for program testing should follow the guidelines of the Software Engineering Unit. System trials should be carried out in an operational environment, using test data from earlier time periods, or even parallel runs with the old system using live data. The types of tests which should be considered for a system are as follows Inputs- form design (ease of use) data transmission input validation and correction Files- empty files addition/deletion/update access controls/security Outputs- output documents/screens recipient understanding ComputerProcedures- program linkages operating procedures recovery and security timings Clerical Procedures- effects on other systems user understanding error correction timings User Education and Training The success of a new system is very much dependent on the attitudes of the people who use it. Education aims to convince users of the benefits of the system to themselves, their department and the company. Management policy regarding re-deployment ,redundancy etc should be clearly stated. while casualties may result from the introduction of new systems, there are also many positive aspects such as ? reducing very boring clerical activities? upgrading of skills ? ? improving job satisfaction ? d? Education, therefore, complements and is a pre-requisite to training. e? Training enables users to understand their role in the new system, and prepares them for their own specific tasks. The users and people affected by the new system must be trained, and arrangements for release from normal duties must be made. Many different methods of training are available including f? formal lectures a? ? discussions/seminars ? computer-assisted training (tutorial packages,help facilities etc) ? user manuals/quick reference guides ? Usually a combination of methods will be chosen with an emphasis on hands on experience. Timing and pacing of training is also important, too early and users may forget aspects or become disinterested, too late and users will become flustered. Training does not cease with implementation, but must meet needs of new staff and system changes. changeover Implementation may involve change from a manual system to a computer system or from one computer system to an other. In both cases the system data and procedures require to be changed. A major task prior to changeover is file conversion. The data in existing clerical or computer files must be converted to the new system files, and this can be a massive task involving the preparation of thousands of records using data from a number of different sources. It is also essential that the new system data is accurate or system credibility will suffer. Changeover is the period from the start of live running to the time the DP department withdraws system support, other than for maintenance. ? Methods of changeover depend on the particular circumstances of a system development project, and fall into the following categoriesdirect changeover ? parallel running? pilot running ? Direct changeover is the complete replacement of the old system by the new in one move. This may be appropriate when system testing has been exhaustive and users have complete confidence in the new system. Also if the system is totally new and there is no comparable old system, or if there is no staff available to operate a parallel run. Parallel running is the method of processing current data using the old and new systems at the same time, then cross-checking results. It may be seen as an extension of testing, and generates confidence among users, however it places a strain on resources. Pilot running may be used in two ways, either in retrospective running of data from previous time periods, after results have been obtained from the old system, or as a staged changeover where a complete logical section of records is chosen and committed to the new system without parallel operation in the old system. when this section is operating satisfactorily the remaining records are transferred. The end of the changeover is signified by user acceptance of the new system. System performance must meet acceptance criteria previously established. Acceptance criteria would relate to factors such as response times, degree of reliability and tolerable error rate. Test Narrative An incremental development approach will be taken. This will involve each module being designed, coded and tested in turn before moving onto the next. This Top Down approach will allow newly written modules to fit naturally into the module hierarchy. Test stubs will be used to simulate the calling of modules which have not yet been coded. Menu Tests would be continued until all tests completed amendments logged and retests completed satisfactorily . Interviewing Interviewing is better than questionnaires for gathering certain information because you could see the interviewee facial expressions. Also one other advantage is that in an interview you can hear the response of the interviewee has to say. One disadvantage about the interviewing is that it takes long of time. But couple of things you would gain from the interview is that you would be gaining the trust in the interviewee, you would be making the interviewee feel important and it shows that you are interested. They will be able to give to the interviewer information that will be of value for the new system. If the interviewee says that the current system is unsatisfactory then you will need to look at the weak point of the current system and making sure that you dont make the new system have similar problem as the current system. Interviewing is factual and you would get the answers to know questions right away. Some other problems in a interview is that there isnt enough detail to know whats happening in the job and needs to meet the interviewee to observe the body language. Interview is long but an questionnaire is quicker but it has less information. Questionnaire Questionnaires are useful when you are gathering a small amount of information from a large number of people. But if you are getting a lot of information from people then it will take you a lot of time to process the whole information which will take a lot of time. A questionnaire is quick if it is a small amount of information, it is simple but a questionnaire has a slow response. A questionnaire is quicker than an interview. Questionnaire is one of the best resources to get information from. Like documents they do have information but documents it may not be regularly updated. Examination of documents is factual and has a lot of information but depending on what you are looking for. In a questionnaires you wouldnt get as much information as examination as documents. Some problems in a questionnaire is the person may not be as honest as the person would be in a interview, an questionnaire is too long and boring. Questionnaire is easy to analyze. Study of forms and documents. Procedures manual is an already made source of information so all you got to do is read the information. Examination of documents is the quicker than interviewing and Questionnaires. Records are all factual like all the rest but one of the main things may be bad about is that the information may not be as accurate as a Questionnaire and Interviewing . Input / Formatting / Validation MS Access Input Formatting Symbol. Meaning (space) Display spaces as literal characters.. ABC Display anything inside quotation marks as literal characters. ! Force left alignment instead of right alignment   Fill available space with the next character. Auto Data Types in MS Access Data Type Explanation of Data Type Text Alphanumeric Max 255 alpha-numeric, characters, 50 is the default Memo Alphanumeric Max 64000 alphanumeric characters Number Numeric Numeric values for calculation Five formats Date/Time Dates/Tinies Five date and three time formats Currency Monetary Monetary values up to 15 digits, plus decimal places AutoNumber Unique Value for each record Sequential numbers automatically inserted by access Yes/No Boolean Logical values in Yes/No, on/of for True/False formats OLE Pictures/Graphs or other OLE Object Linking and Embedding items, graphics or binary Hyperlink. Decimal placeholder and thousand date and time separators. (The actual character used depends on the settings in the Regional Settings section of the Windows Control Panel). Causes all characters to be converted to lowercase. Causes all characters to be converted to uppercase. ! Causes the input mask to display from right to left, rather than from left to right, when characters on the left side of the input mask are optional. Characters typed into the mask always fill it from left to right You can include the exclamation point anywhere in the input mask \ Causes the character that follows to be displayed as the literal character. If you create a validation rule for a field Microsoft Access doesnt normally allow a Null value to be stored in the field. If you want to allow a Null value add Is Null to the validation rule as in 8 Or Is Null. Query criteria in MS Access Field Data Field data finds an exact match for a field Smith will find smith Access is not case sensitive wildcards Two wildcards can be used to replace field characters. any single character 0 any characterds values greater than or equal to 01/12/92 Compound Criteria The user can specify more than one example and criteria at any one time.

Effect of Exports on Growth

Effect of Exports on Growth 1. Introduction 1.1. Theoretical Framework The general idea of free trade agreement of growth was developed in advocacy of free trade based on neoclassical trade theory (Solow, 1956) and from recent endogenous growth theory (Romer P. , 1990). The support for free trade is drawn from Ricardian principles of comparative advantage (Viner, 1937). Similar idea is drawn from the notion of perfect competition and the believe of neoclassical economists who argues on the importance of efficient capital allocation due to free trade (Krugman, 1986; Corden W. , 1974). The phenomenon of free trade came under severe scrutiny in the face of Great Depression. Hence, theoretical foundations of ‘optimum tariff were developed in support of protection (Johnson, 1950; Kaldor, 1940). Johnson (1958, 1971) advocated trade protection in three groups in his classical exposition. They are the economic arguments, non-economic arguments and non-arguments. Economic arguments raise infant industry argument, optimal tariff argument and correction of domestic market distortions, while non-economic arguments emphasize on self-sufficiency for domestic economy. Non-arguments attempt to resolve balance of payment distortions through trade protection. Johnson concluded that ‘optimal tariff protection is the only valid argument, while in other cases such arguments will only inflict distortions. The neoclassical economists refute the notion of protection as an alternative, as this would result in intra-industry effects. The increased barrier to entry would make domestic traders to engage in monopolistic competition, while small enterprises will be left inefficient. Intra-industry effects are the source to welfare loss (Tybout J. D., 1991). In addition, Bhagwati(1988) and Kruger(1974), raises the theory of directly unproductive and profit (DUP) seeking activities, which will cause waste to national resources. Additionally, the Solow-growth model embodies technology as an endogenous factor (Agion, 1992; Romer P. , 1989), which argue that international trade ensures faster diffusion of technology, that is embodied into the better intermediate goods which results in higher productivity and growth for domestic economy (Grossman, 1991). This will result in learning by doing effect and technological know-how is surpassed. In addition, management is more efficient and all will combi ne in high growth (Krugman, 1987; Young, 1991; Lucas, 1988) . 1.2. Objective of the study A high number and standard of studies have been conducted on Export-led growth, trade openness, â€Å"manufacturing exports as a new engine of growth†, specifically in the last decade, on different economies, ranging from developed to poor countries, drawing interesting conclusions. The present study seeks to investigate the effects of export, openness on growth in the context of Bangladesh. Firstly, the study will seek for stable effects of policy shifts and implementation, in Bangladesh, which will be determined by stable changes in the determinants. Stationarity conditions, if satisfied, will ensure the stability of economy and productivity, towards a particular goal. Secondly, the study will investigate the current association between growth and trade openness. While it is desired, that the adopted outward-looking trade policies of Bangladesh to result in positive association of productivity to liberalization, trade openness might be effected by other variables and may render different conclusions. Thirdly, the study will examine, if the export led growth hypothesis is still applicable to Bangladesh, as before, while many countries, such as Sri-Lanka, Philippines, Nigeria have seen opposite relationships. Additionally, Hossain and Karunaratna (2004) have argued that â€Å"manufacturing exports have become new engine of growth† which is a disciple of the de novo hypothesis. In contrast, Adelman (1984) suggests that, agricultural exports should have dominant effect for a pro-agricultural society as Bangladesh. It is important to see if, ‘manufacturing exports is an engine of growth, or still other factors are dominant as before. Investment is an endogenous factor that should imply the increased import of intermediate goods, as a result of increased export, and more openness, would consequently; render higher productivity (Krugman, 1987; Lucas, 1988; Young, 1991). 1.3. Relevance and limitations of the study Relevant studies have been conducted in the context of Bangladesh, in last decade and have drawn interesting remarks. However, the major drawback is the timeframe of earlier studies, which did not cover analyses from the last ten years. In the last ten years, econometric methods have changed and improved rigorously. Hence, many studies have been rendered invalid due to absence of proper methodology. The world economy has seen dramatic events in politics, international trade and global economy. The trends in global economy, which were much more rigorous, in the last ten years, have affected Bangladesh magnificently, as Bangladesh emerges as a high power economy in Asia, and have interested researchers, due to high deviations and high rises to productivity. It is necessary to embody recent econometric techniques of Johansens maximum likelihood cointegration analysis and vector error correction methodology, which will inform on recent associations, among the interested indicators. Hence the state-of-art econometric techniques will provide reliable results that would help the policy makers to observe the relationships and bring sufficient changes, in trade policy to render profit. Among the few limitations of the study was the absence of first hand secondary sources. Most data sources for Bangladesh are not available online and are preserved in paper based format. The lack of proper technology and internet, withdraw the authorities of the country, to provide data directly. Therefore, data are collected from World Bank sources, which may not correct for errors, and sometimes fail to provide detailed data series as an intermediary. 1.4. Structure of the dissertation The second section will contain a brief country profile and approaches to liberalization. The third phase will contain literature review that will discuss literatures in support to export-led growth hypothesis and trade liberalization. This section will bring forth studies that contrast and significance of the study. The fourth and fifth section will contain methodology to estimation and results of analysis. The final section will give conclusion and remarks to the dissertation. 2. Process of trade openness and Export-growth in Bangladesh After independence in 1971, Bangladesh has gone through three phases of policy changes, towards deregulation and openness to trade. The first phase was marked by severe control on exports and imports. The policy implemented in 1972 to 1975, put the country in a socialist framework, with a fixed exchange rate system. Industrial enterprises, banking and trade infrastructure was massively nationalized as an inward-looking, import substitution approach was adopted. Agricultural inputs and outputs were controlled. Empirical literature suggests that this was a good decision for the researched timeframe (Ahmed N. , 2000). The second phase of policy shifting began in 1976 and continued up to 1990. This phase of denationalization, deregulation and trade liberalization lacked a good direction to work out the process. Nationalized trade barriers were reduced, and a ‘free trade approach was undertaken. Privatization of industries and banking sector was allowed and price controls over nationalized firms were lifted. Abolishment of state trading was initiated. The third phase of policy shift, were introduced in the beginning of 1991 and continued up to 2002 with significant remarks. In the recently developed policies toward export-promotion and trade openness, ‘trade barriers have been removed as a flexible exchange rate regime is adopted. To encourage further reduction of anti-export bias, export processing zones have been established, to co-operate manufacturing exports. This recent policy shift has moved towards complete privatization of banks, infrastructure and agricultural sector. During this phase, Bangladesh continued to experience rapid liberalization. In order to further opening up the boundaries, Bangladesh has entered into a ‘free trade agreement among countries in the region. As discussed, to encourage EP trade policies, and free trade, Bangladesh entered into bi-lateral agreements with India, Pakistan, Sri-Lanka, and continues to trade and investment framework agreement with United States. Bangladesh is an active member of SAARC, Developing-8, and Bangkok Agreement. The country is rigorously seeking to import in developing of a regional co-operation among Bangladesh, Bhutan and seven northeastern states of India and Nepal. From the graph presented above, it can be seen that, starting form 1971, imports were increasing at a low rate, with a fall in 1976-77, but moved up after that. The import line took a peak after the third policy implementation in 1991, and continued to rise at a high speed. The export trend was almost at a constant level, until the 1991 policy implementation. Afterwards, the trend peaked, gained a momentum after 2000. However, the export line still falls below the import trend. As reported by the export promotion bureau, in 2005-2006 FY, export earnings have grown by 21.3%, which is due to high demand of, chiefly manufactured goods, led by garments industry and knitwear. During this period, import payments have grown by 9.5%. In contrast to real export, manufacturing exports exhibit of higher exports than imports which are in percentage of merchandise exports. This is indicative of higher productivity. When the country adopts rigorous trade policy towards openness and promoting exports, large scale capital owners and labor unions are in oppose to liberalization. The cause of opposition may lie in the fact that, increased competition, effect the workers, in protected public and private sector, who fail to adjust to the exposed economy, with increased productivity. The politicians tend to protect large scale owners, who severely discourage competition and create bias towards exports (Sattar, 2004). 3. Literature Review 3.1. Concepts and Empirics on Export-Led Growth Phenomenon Export led growth phenomenon has been central to the trade and development literature for many years. The bulk of researches that has taken place on this issue are therefore, not small in number and range. The focuses of these studies were bi-directional. Some of the studies attempted to find whether expanding export would improve the growth performance. Others tried to find the paths through which the expansion of export will affect the growth performance. Economic theory confirms that export expansion leads to increase the growth performance, as that efficiently allocates productive resources and also with the high volume of productive resources accumulated as a result of higher capital earned through export growth, (Bardhan, 1970; Cheneray, 1966; Basu, 1991; Romer P. , 1989 ; McKinnon, 1964; Grossman, 1991). Export expansion makes the home country to concentrate on comparative advantages and to earn economies of scale. The home country continues to invest on its economies of scale and achieve better efficiency. The increased efficiency creates external competitive pressure on the home country, along with improved internal competition. In the face of more competition, the monopolistic and oligopolostic behavior of the market is eliminated. Efficiency is also created as learning by doing. Knowledge is transferred to other sectors and growth is enhanced. The external competition, aids the small economy to realise and emphasize on removing limitations, through economies of scale, and by reaping the true advantage of globalisation, which is acquired by increasing export. The theoitical literature also argues that, export expansion increases the investment and capital accumulation in a country. The two-gap model explains , that growing export reduces the constraints that prevail in foreign exchange. Such reduction of constraints lead to better accumulation of productive resources, capital goods and intermediate goods (McKinnon, 1964; Bacha, 1984; Cheneray, 1966). Export expansion also increases investement opportunity of a country. Modern economists suggest that, savings by domestic and banking system, government savings and foreign exchange savings cannot only induce investment. Investment opportunities determine investment rather than savings. The growth of export will provide investment opportunities to home country, (Sandrum, 1994). Theories suggest that, the relationship of export and economic growth is bi-directional. Economic growth may also increase export for a country. The effect of better learning and technological development, give rise to output. The growth of output ensures that domestic demand is met and export will expand. However, this technological process development or learning process development is not directly related to the export promoting policies (Jung, 1985). As the home country realizes economies of scale, expansion of export takes place. Investemnt (Grossman, 1991). Therefore, the bi-directional theory suggests that, GDP is a function of investment, that enhances export performance, and export increases investment opportunity, that is directed to GDP growth. In the designing process of development economics, entailed was dominant export passimistic theories, rather than export promoting views. After the end of world war II, import substitution strategies were to be followed by many countries. However, the initial phase of implementing import substitution strategies seemed ideal during that period, but the results of taking attempts to implement the import substitution strategies were not favorable for all economies. Economists found that, that export passimistic views were not justified for many economies that have reached a certain level of development, and industrialization. On the other hand, the import substitution trade policies laid undesirable effcts on balance of payment. As a result, the growing economies did not accept import substitution strategies, rather accept export promoting views (Adelman, 1984). The growth led export is also suggested by theories. According to Bhagwati (1988), growth led export hypothesis is dominant when supply and demand is induced by growth. In such cases, anti-trade bias is turned down.The possibility of bi-directional causality prevails in many major theoritical literture (Grossman, 1991; Bhagwati J. , 1988). On the other hand, Irma Adelman (1984) argues that, export-led growth is not the only open development strategy for a least developed country. The open development strategy that ensures the allocation of agriculturally driven resources may prove superior than the strategy for allocation of capital for investment resources. An alternative to the import substituion strategy, for a closed development approach, maybe an ADLI ( agricultural-demand-led-industrialization) strategy. It is important to identify the phase of closed development ideology, which is dominant after the era of Pro-agricultural strategy is over. Another theoritical literature similarly argued that, ADLI as a balanced-gowth-approach, can only be a mean, to attain the goal for developing countries need for higher growth, and the need for growing industrialization by expanding the demand for domestically produecd consumer goods and intermediate goods. The linkage effect to agriculture with industrialization is also exam ined (Singer, 1979). Singer (1979) defines this target as Lime target and ADLI is the solution. However, Irma Adelman(1984), also puts out the constraints to ADLI strategy as it requires the improvement of infrastructure in Agriculture which is difficult to attain in South Asian Sub-continent. The physical capital needs to be perfectly infrustructred for ADLI yield expected results. Therefore, ADLI strategy is a solution to allow time to the developing countries to bring abouth changes structurally, in 1980s to 1990s. This strategy cannot wire out the importance of export-promoting strategies as an alternative for import substituion strategies at all (Adelman, 1984). Alongside the theoritical literatures on export-led growth hypothesis, the number empirical literature from the first of its kind by Maizels(1963) is many. Jung and Marsall(1985) scanned 11 empirical studies that were carried out from 1967 to 1982 timeframe, and all of the studies found supportive relationships to export and growth. Greenaway and Sapsford(1994), reviewed 14 empirical studies that were conducted on the export-led growth hypothesis, and 12 empirical studies vividly shown relationships between export and growth. One of a major study conducted by Giles and Williams (2000), which conducted 150 cross country analysis from 1963 to 1999. Out of the 57 countries that were analysed , only 4 countries failed to show significant relationships between export and growth, and only 10 out of the 102 time series analysis didnt show significant relationships between export and growth. It has interested the empirical literature to examine export-led growth hypothesis prior and after the oil shock in 1973-74 timeframe. Among the studies,that took place prior to the oil shock, Michalopoulos and Jay (1973) conducted a study in a 1960-73 timeframe, by estimating export and gowth into a poduction function, signifcant relationships were found. Tyler (1981) conducted study on a group of middle income countries, putting export and growth into similar production function framework, and found similar relationships.Therefore, export orientation into the framework is supposed to effect growth therough economies of scale, allcation of productive resources and utilization of capital, optimally. The study of Feder (1983) found similar results. Balassa (1983) were dubious about the relationship afther oil shock, as in the face of economic recession 1974-75 that took place after the quadrupling of oil price in 1973-74, may have effected the relationship because of the orientation o f external shock in the production function. The study he conducted had taken th period of 1973-79, after the shcok, on 43 developing countries, who were directly affected by subsequent recession. The result did show export affecting growth positively and the numerical magnitude of the effect did grow compared to early results. The changes in intercountry growth rate before and after the oil shock is rather a result of different trade policies introduced. An important theoritical implication is increasing export also paves the way for imported capital goods to be entered into the country (Islam M. , 1998). As productivity is increased, investment along with profit grows and the economy enjoys higher growth (Edward, 1993; Levine, 1992). In last two decades, exports of newly industrialized countries grew by 20%. Manufacturing exports entailed 70% of total exports. As a third factor, import of manufactured and productive capital goods increased. The demand for these capital goods indicates the increasing rate of growth. Therefore, the plethora of studies on export and growth make this issue important enough to review. 3.2. Cross-country empirical analyses In light of previous section, many empirical literature also focused on perticular countries or a category of countries to examine the export-led growth hypothesis. In theoritical literature, it is defined that, if export growth coefficients and and output growth coefficients are significantly positive in regression, the country follows export promoting strategies. If output growth causes export growth in regression than the country is labelled IGE or internally generated exports. On the other hand if a export growth coeiicient and output growth coefficient is negetively correlated in the regression for growth, the country follows ERG or export reducing growth strategy (Jung, 1985). Such countries are following inward-oriented strategies rather than outward-oriented policies. Inward-oriented countries may also follow IS (import substitution) trade policy. Many empirical studies on cross-country did confirm the existence of export-led growth for different countries, and in some countries results otherwise is found. Hatemi J. and Irandsout (2000) continued analysis on Ireland, Portugal and Mexico, and significant relationship was confirmed. In the same study, they failed to confirm causal relationship for Greece and Turkey (Hatemi-J.A., 2000). The study by Ghirmay et al. (2001) did find positive relationship of export and growth for a number of developing countries. Just after one year, another study by Greenaway et al. (2002) conducted analysis on a number of selected developing countries and found that the growth rate for these countries dropped immediately after trade reform, for a constant rate of export, but gained momentum following a J-curve response after the affect of trade refor wires out. M. Michaely (1976) analysed 41 developing countries for a significantly large period. The resulting conclusion implicated that while Greece, Taiwan, Portugal, Spain, Israel, Yoguslavia and Koria had rapid growth with increasing export, Portugal did not show significant export growth, while GDP was growing in same pace. On the other hand, when Ethiopia incresed its export performance considerably, but failed to increase its growth to the pace with other countries. On the basis of rank correlations, M. Michaely (1976) concluded that export performance will positively effect growth of a country, only when a country achieves development of a perticular level. Countries below this level will fail to exhibit good export-growth relationships. Bela Balassa(1977) followed similar study conducted by M. Michaely (1976), running rank correlations on a sample of countries that established industrial base for a timeframe of 1960-73. Among these countries, Korea, Singapore and Taiwan adopted EP (ex port promoting) strategies at a very early stage and provided incentive to the exporting sector by subsidizing the sector in many ways. On the contrary, though, Israel and Yoguslavia promoted export during the same period, but their efforts seemed to dim in the later periods. On the other extreme, Argentina, Brazil, Columbia and Mexico, continued the existing trade policy, supporting import substitution (IS). During this period, Chile and India continued their inward-oriented policies and was in the phase of weakly introducing export promotion policies. The resulting conclusion estimated that, while Korea and Taiwan would have less growth with more export, Chile, India, Mexico,Brazil and almost all other countries would have better levels of growth with higher levels of export. The countries that moved to opposite direction is due to the unfavorable internal conditions and policy constraints, the countries have. Similarly, for Phillipines and Srilanka, opposite direction of relation ship is found (Islam M. , 1998). 3.3. Controversial Theories and Evidence Due to the debt crisis and continued recession that prevailed during 1980s, after many countries adopted export promoting strategies, theorists and economicsts were dubious about export-led growth hypothesis. It became a necessity to re-examine the export promoting strategies (Bhagwati J. , 1988). The revived passimistic school of thought was dominated by old and new school of thoughts. The most influencial school of thoughts were suggested by two great contemporay development economists, that were Raul Prebisch (Prebisch, 1952) and Ragner Nurkse (Nurkse, 1953). Prebisch (1952) recommended that, chief exports for newly industrialized countries will decline following a natural cycle, regardless of the trade policy implemented by the home country. Producers of home economy will respond by rapid industrialization and the economy will respond by employing more protection and higher level of restrictions. All these attempts will make export promotion unjustified. The other dominant export passimism was realized by Nurkse(1953), who stressed more on â€Å"balanced growth†. The â€Å"balanced growth† theory suggests that the accelerated pace of growth and exports of developing countries, make foreign markets unable to accommodate imports on sufficient level. Developing economies shift from raw materials to synthetic materials as inputs, and damage exports for developing countries longer run. Riedel (1984) suggests that, demand dominates export performance. It is a biased view towards export growth relationship if that is explained by export performance of selected countries. Export performance maybe more reliant on domestic incentives of a country, rather than the external conditions (Riedel, 1984). The new literatures focus more on successful Asian exporters, which maybe a mistake to be implemented as a general strategy for all economies. The sources of worry advocates that, markets are shifted to export promotion, markets will fail to absorb all exports. The earlier wave of export passimism was afflicted by this idea. Economists have always supported the idea of intra-industry specialization which leads to adoption of inward-oriented policies, and terms an economy as closed economy.The countries that adopt outward-oriented policies to a greater extent, or publicly promotes export promoting strategies, associates some level of government intervention. The government intervention makes sure that exports are promoted, subsidized and invested into. The countries that are empirically supportive of export-led growth hypothesis, mostly follow government intervention. This practice is generalized except countries like Hong-Kong. However, these are exceptional cases and should not be g eneralized (Bhagwati J. , 1988). Economists also view that, export promoting trade policies, make the domestic market less sheltered and susceptible to world economic condition, outside pressure, world competition as well as innovation. This view has also been critisized and the opposite direction is supported by Schumpeterian arguments (Bhagwati J. , 1984). The theory of market imperfections addressed by Fields(1984) suggests that, in presence of excessively high wages, countries may do poorly. An example of this theory is set to Jamaica. Another interesting theory is the satisfaction theory of import substitution suggests that, the export promotion strategies are not suitable for many newly industrialzed countries due to their lack of flexibility for movemet of capital resources. Countries also lack the political capabilities to implement this flexibility (Ruggie,1983). Similar argument is also suggested by Adelman (1984) who argues that, agricultural-demand-led-industrialization strategy should be applied to allo w a country enough time, for it to develop a structural base, before the country can successfully implement export promoting strategies. Export-led growth will follow if the country can achieve a minimum level of development as suggested before. While in the face of rapid growth, many countries are doing well with export promoting trade policies, countries like Taiwan, Sri-Lanka, Phillipines, Jamaica, Brazil, Korea. are examples of countries, that was not in the position to implement export-promoting trade strategies,and the desired export-led growth was not achieved. In some theories, learning by doing or intra-industrial knowledge transfer was an important factor for adopting export promotion strategies. It is believed to be a mean of acquiring economies of scale for industries. The know-how process is a major motivating factor for economies, to support export promotion strategies. However, even, learning by doing effect dims down and may stop completely in absence of newly developed technology (Young, 1991). This makes outward-orientation unjustified and export-led growth, a failure. Import substitution and export promotion strategies do best when they are complementary (Grabowski,1994; Hamilton and Thompson, 1994). One important alternative suggested by Adelman (1984), is the ADLI (agricultural-demand-led-industrialization) strategy. The ADLI argument can be set into the similar footsteps of IGE (internally gorwn exports) of Jung (1985). Adelman (1984) argues that, when the countries became more reliant on industrial export-led growth, the controversies arise as many of least developed countries experienced lower employment, deteriorated income distribution, high level of food imports as domestic demand is not met, and lower level of growth. Therefore, countries required to implement more basic need oriented strategies. The rising foreign exchange constraints, and the serious liquidity problems, least developed countries faced, as they moved towards more export promoting strategies, following the export-led growth hypothesis, newly renewed export passimism (Adelman, 1984). As empirical evidence, causality tests between export and groth conducted by Jung and Marshall (1985) on 37 countries should be addressed. In this empirical study, countries as many as South Africa, Korea, Pakistan, Israel, Bolivia and Peru did not show significantly positive relationship between export and growth. Rather these countries showed export reducing growth, which is the other way around. If these countries implements export promoting trade strategy, the countries will experience crippled economy and lower growth. Countries such as Iran, Kenya and Thailand are in favor of internally generated growth, and in the process of successfully implement export promoting growth policy (Jung, 1985). Looking at the above results, countries therefore, support import substitution as a pro-agricultural trade policy (Adelman, 1984). Countries are also adviced to move towards ADLI strategy in this stage. It may not be favorable for countries to immediately implement export promoting trade strategies, hoping to yield benefits of export-led growth hypthesis. In the primary stage, countries require import substitution policies, to develop intra-indistrial skills, economies of scale, and a trade base to a minimum level. The level in between is a complementary stage between import substitution and export promotion. Countries as India, Malaysia, Bangldesh in South east Asian region, followed import substitution for longer period until they believed to reach the minimum level, before these countries can move towards outward-oriented policies and introduced trade openness, and enjoyed the benefits of export-led-growth. For many countries mentioned above, steps taken in an earlier phase, have backfired. Therefore, the controversies to export led growth is as prevailent as the support toward the hypothesis. 3.4. Empirics on export led-growth and trade liberalization in the context of Bangladesh As one of Asias growing power house economy, The export-led growth hypothesis has been examined in the context of Bangladesh, in many empirical literaures. Among the newly conducted researches, conintegration analyses, vector error correction models, explained many important variables such as manufacturing exports, investment capital to the total exports and growth. This part will briefly review the studies conducted in the context of Bangladesh. Since its independence, Bangladesh embarked in a import substitution trade policy; following the ideology that a pro-agricultural society should be motivated to develop intra-industry to achieve economies of scale (Adelman, 1984). The mounting foreign debt, instable political condition, low productivity and growth, lower national income, did not allow the country to achieve its economic objective. Therefore, the country had to convert its inward looking policies, towards more outward looking policy, and adopted export promoting trade policy in 1982. Many structural adjustments were adviced by world bank and international monetary fund. The country went under furth Effect of Exports on Growth Effect of Exports on Growth 1. Introduction 1.1. Theoretical Framework The general idea of free trade agreement of growth was developed in advocacy of free trade based on neoclassical trade theory (Solow, 1956) and from recent endogenous growth theory (Romer P. , 1990). The support for free trade is drawn from Ricardian principles of comparative advantage (Viner, 1937). Similar idea is drawn from the notion of perfect competition and the believe of neoclassical economists who argues on the importance of efficient capital allocation due to free trade (Krugman, 1986; Corden W. , 1974). The phenomenon of free trade came under severe scrutiny in the face of Great Depression. Hence, theoretical foundations of ‘optimum tariff were developed in support of protection (Johnson, 1950; Kaldor, 1940). Johnson (1958, 1971) advocated trade protection in three groups in his classical exposition. They are the economic arguments, non-economic arguments and non-arguments. Economic arguments raise infant industry argument, optimal tariff argument and correction of domestic market distortions, while non-economic arguments emphasize on self-sufficiency for domestic economy. Non-arguments attempt to resolve balance of payment distortions through trade protection. Johnson concluded that ‘optimal tariff protection is the only valid argument, while in other cases such arguments will only inflict distortions. The neoclassical economists refute the notion of protection as an alternative, as this would result in intra-industry effects. The increased barrier to entry would make domestic traders to engage in monopolistic competition, while small enterprises will be left inefficient. Intra-industry effects are the source to welfare loss (Tybout J. D., 1991). In addition, Bhagwati(1988) and Kruger(1974), raises the theory of directly unproductive and profit (DUP) seeking activities, which will cause waste to national resources. Additionally, the Solow-growth model embodies technology as an endogenous factor (Agion, 1992; Romer P. , 1989), which argue that international trade ensures faster diffusion of technology, that is embodied into the better intermediate goods which results in higher productivity and growth for domestic economy (Grossman, 1991). This will result in learning by doing effect and technological know-how is surpassed. In addition, management is more efficient and all will combi ne in high growth (Krugman, 1987; Young, 1991; Lucas, 1988) . 1.2. Objective of the study A high number and standard of studies have been conducted on Export-led growth, trade openness, â€Å"manufacturing exports as a new engine of growth†, specifically in the last decade, on different economies, ranging from developed to poor countries, drawing interesting conclusions. The present study seeks to investigate the effects of export, openness on growth in the context of Bangladesh. Firstly, the study will seek for stable effects of policy shifts and implementation, in Bangladesh, which will be determined by stable changes in the determinants. Stationarity conditions, if satisfied, will ensure the stability of economy and productivity, towards a particular goal. Secondly, the study will investigate the current association between growth and trade openness. While it is desired, that the adopted outward-looking trade policies of Bangladesh to result in positive association of productivity to liberalization, trade openness might be effected by other variables and may render different conclusions. Thirdly, the study will examine, if the export led growth hypothesis is still applicable to Bangladesh, as before, while many countries, such as Sri-Lanka, Philippines, Nigeria have seen opposite relationships. Additionally, Hossain and Karunaratna (2004) have argued that â€Å"manufacturing exports have become new engine of growth† which is a disciple of the de novo hypothesis. In contrast, Adelman (1984) suggests that, agricultural exports should have dominant effect for a pro-agricultural society as Bangladesh. It is important to see if, ‘manufacturing exports is an engine of growth, or still other factors are dominant as before. Investment is an endogenous factor that should imply the increased import of intermediate goods, as a result of increased export, and more openness, would consequently; render higher productivity (Krugman, 1987; Lucas, 1988; Young, 1991). 1.3. Relevance and limitations of the study Relevant studies have been conducted in the context of Bangladesh, in last decade and have drawn interesting remarks. However, the major drawback is the timeframe of earlier studies, which did not cover analyses from the last ten years. In the last ten years, econometric methods have changed and improved rigorously. Hence, many studies have been rendered invalid due to absence of proper methodology. The world economy has seen dramatic events in politics, international trade and global economy. The trends in global economy, which were much more rigorous, in the last ten years, have affected Bangladesh magnificently, as Bangladesh emerges as a high power economy in Asia, and have interested researchers, due to high deviations and high rises to productivity. It is necessary to embody recent econometric techniques of Johansens maximum likelihood cointegration analysis and vector error correction methodology, which will inform on recent associations, among the interested indicators. Hence the state-of-art econometric techniques will provide reliable results that would help the policy makers to observe the relationships and bring sufficient changes, in trade policy to render profit. Among the few limitations of the study was the absence of first hand secondary sources. Most data sources for Bangladesh are not available online and are preserved in paper based format. The lack of proper technology and internet, withdraw the authorities of the country, to provide data directly. Therefore, data are collected from World Bank sources, which may not correct for errors, and sometimes fail to provide detailed data series as an intermediary. 1.4. Structure of the dissertation The second section will contain a brief country profile and approaches to liberalization. The third phase will contain literature review that will discuss literatures in support to export-led growth hypothesis and trade liberalization. This section will bring forth studies that contrast and significance of the study. The fourth and fifth section will contain methodology to estimation and results of analysis. The final section will give conclusion and remarks to the dissertation. 2. Process of trade openness and Export-growth in Bangladesh After independence in 1971, Bangladesh has gone through three phases of policy changes, towards deregulation and openness to trade. The first phase was marked by severe control on exports and imports. The policy implemented in 1972 to 1975, put the country in a socialist framework, with a fixed exchange rate system. Industrial enterprises, banking and trade infrastructure was massively nationalized as an inward-looking, import substitution approach was adopted. Agricultural inputs and outputs were controlled. Empirical literature suggests that this was a good decision for the researched timeframe (Ahmed N. , 2000). The second phase of policy shifting began in 1976 and continued up to 1990. This phase of denationalization, deregulation and trade liberalization lacked a good direction to work out the process. Nationalized trade barriers were reduced, and a ‘free trade approach was undertaken. Privatization of industries and banking sector was allowed and price controls over nationalized firms were lifted. Abolishment of state trading was initiated. The third phase of policy shift, were introduced in the beginning of 1991 and continued up to 2002 with significant remarks. In the recently developed policies toward export-promotion and trade openness, ‘trade barriers have been removed as a flexible exchange rate regime is adopted. To encourage further reduction of anti-export bias, export processing zones have been established, to co-operate manufacturing exports. This recent policy shift has moved towards complete privatization of banks, infrastructure and agricultural sector. During this phase, Bangladesh continued to experience rapid liberalization. In order to further opening up the boundaries, Bangladesh has entered into a ‘free trade agreement among countries in the region. As discussed, to encourage EP trade policies, and free trade, Bangladesh entered into bi-lateral agreements with India, Pakistan, Sri-Lanka, and continues to trade and investment framework agreement with United States. Bangladesh is an active member of SAARC, Developing-8, and Bangkok Agreement. The country is rigorously seeking to import in developing of a regional co-operation among Bangladesh, Bhutan and seven northeastern states of India and Nepal. From the graph presented above, it can be seen that, starting form 1971, imports were increasing at a low rate, with a fall in 1976-77, but moved up after that. The import line took a peak after the third policy implementation in 1991, and continued to rise at a high speed. The export trend was almost at a constant level, until the 1991 policy implementation. Afterwards, the trend peaked, gained a momentum after 2000. However, the export line still falls below the import trend. As reported by the export promotion bureau, in 2005-2006 FY, export earnings have grown by 21.3%, which is due to high demand of, chiefly manufactured goods, led by garments industry and knitwear. During this period, import payments have grown by 9.5%. In contrast to real export, manufacturing exports exhibit of higher exports than imports which are in percentage of merchandise exports. This is indicative of higher productivity. When the country adopts rigorous trade policy towards openness and promoting exports, large scale capital owners and labor unions are in oppose to liberalization. The cause of opposition may lie in the fact that, increased competition, effect the workers, in protected public and private sector, who fail to adjust to the exposed economy, with increased productivity. The politicians tend to protect large scale owners, who severely discourage competition and create bias towards exports (Sattar, 2004). 3. Literature Review 3.1. Concepts and Empirics on Export-Led Growth Phenomenon Export led growth phenomenon has been central to the trade and development literature for many years. The bulk of researches that has taken place on this issue are therefore, not small in number and range. The focuses of these studies were bi-directional. Some of the studies attempted to find whether expanding export would improve the growth performance. Others tried to find the paths through which the expansion of export will affect the growth performance. Economic theory confirms that export expansion leads to increase the growth performance, as that efficiently allocates productive resources and also with the high volume of productive resources accumulated as a result of higher capital earned through export growth, (Bardhan, 1970; Cheneray, 1966; Basu, 1991; Romer P. , 1989 ; McKinnon, 1964; Grossman, 1991). Export expansion makes the home country to concentrate on comparative advantages and to earn economies of scale. The home country continues to invest on its economies of scale and achieve better efficiency. The increased efficiency creates external competitive pressure on the home country, along with improved internal competition. In the face of more competition, the monopolistic and oligopolostic behavior of the market is eliminated. Efficiency is also created as learning by doing. Knowledge is transferred to other sectors and growth is enhanced. The external competition, aids the small economy to realise and emphasize on removing limitations, through economies of scale, and by reaping the true advantage of globalisation, which is acquired by increasing export. The theoitical literature also argues that, export expansion increases the investment and capital accumulation in a country. The two-gap model explains , that growing export reduces the constraints that prevail in foreign exchange. Such reduction of constraints lead to better accumulation of productive resources, capital goods and intermediate goods (McKinnon, 1964; Bacha, 1984; Cheneray, 1966). Export expansion also increases investement opportunity of a country. Modern economists suggest that, savings by domestic and banking system, government savings and foreign exchange savings cannot only induce investment. Investment opportunities determine investment rather than savings. The growth of export will provide investment opportunities to home country, (Sandrum, 1994). Theories suggest that, the relationship of export and economic growth is bi-directional. Economic growth may also increase export for a country. The effect of better learning and technological development, give rise to output. The growth of output ensures that domestic demand is met and export will expand. However, this technological process development or learning process development is not directly related to the export promoting policies (Jung, 1985). As the home country realizes economies of scale, expansion of export takes place. Investemnt (Grossman, 1991). Therefore, the bi-directional theory suggests that, GDP is a function of investment, that enhances export performance, and export increases investment opportunity, that is directed to GDP growth. In the designing process of development economics, entailed was dominant export passimistic theories, rather than export promoting views. After the end of world war II, import substitution strategies were to be followed by many countries. However, the initial phase of implementing import substitution strategies seemed ideal during that period, but the results of taking attempts to implement the import substitution strategies were not favorable for all economies. Economists found that, that export passimistic views were not justified for many economies that have reached a certain level of development, and industrialization. On the other hand, the import substitution trade policies laid undesirable effcts on balance of payment. As a result, the growing economies did not accept import substitution strategies, rather accept export promoting views (Adelman, 1984). The growth led export is also suggested by theories. According to Bhagwati (1988), growth led export hypothesis is dominant when supply and demand is induced by growth. In such cases, anti-trade bias is turned down.The possibility of bi-directional causality prevails in many major theoritical literture (Grossman, 1991; Bhagwati J. , 1988). On the other hand, Irma Adelman (1984) argues that, export-led growth is not the only open development strategy for a least developed country. The open development strategy that ensures the allocation of agriculturally driven resources may prove superior than the strategy for allocation of capital for investment resources. An alternative to the import substituion strategy, for a closed development approach, maybe an ADLI ( agricultural-demand-led-industrialization) strategy. It is important to identify the phase of closed development ideology, which is dominant after the era of Pro-agricultural strategy is over. Another theoritical literature similarly argued that, ADLI as a balanced-gowth-approach, can only be a mean, to attain the goal for developing countries need for higher growth, and the need for growing industrialization by expanding the demand for domestically produecd consumer goods and intermediate goods. The linkage effect to agriculture with industrialization is also exam ined (Singer, 1979). Singer (1979) defines this target as Lime target and ADLI is the solution. However, Irma Adelman(1984), also puts out the constraints to ADLI strategy as it requires the improvement of infrastructure in Agriculture which is difficult to attain in South Asian Sub-continent. The physical capital needs to be perfectly infrustructred for ADLI yield expected results. Therefore, ADLI strategy is a solution to allow time to the developing countries to bring abouth changes structurally, in 1980s to 1990s. This strategy cannot wire out the importance of export-promoting strategies as an alternative for import substituion strategies at all (Adelman, 1984). Alongside the theoritical literatures on export-led growth hypothesis, the number empirical literature from the first of its kind by Maizels(1963) is many. Jung and Marsall(1985) scanned 11 empirical studies that were carried out from 1967 to 1982 timeframe, and all of the studies found supportive relationships to export and growth. Greenaway and Sapsford(1994), reviewed 14 empirical studies that were conducted on the export-led growth hypothesis, and 12 empirical studies vividly shown relationships between export and growth. One of a major study conducted by Giles and Williams (2000), which conducted 150 cross country analysis from 1963 to 1999. Out of the 57 countries that were analysed , only 4 countries failed to show significant relationships between export and growth, and only 10 out of the 102 time series analysis didnt show significant relationships between export and growth. It has interested the empirical literature to examine export-led growth hypothesis prior and after the oil shock in 1973-74 timeframe. Among the studies,that took place prior to the oil shock, Michalopoulos and Jay (1973) conducted a study in a 1960-73 timeframe, by estimating export and gowth into a poduction function, signifcant relationships were found. Tyler (1981) conducted study on a group of middle income countries, putting export and growth into similar production function framework, and found similar relationships.Therefore, export orientation into the framework is supposed to effect growth therough economies of scale, allcation of productive resources and utilization of capital, optimally. The study of Feder (1983) found similar results. Balassa (1983) were dubious about the relationship afther oil shock, as in the face of economic recession 1974-75 that took place after the quadrupling of oil price in 1973-74, may have effected the relationship because of the orientation o f external shock in the production function. The study he conducted had taken th period of 1973-79, after the shcok, on 43 developing countries, who were directly affected by subsequent recession. The result did show export affecting growth positively and the numerical magnitude of the effect did grow compared to early results. The changes in intercountry growth rate before and after the oil shock is rather a result of different trade policies introduced. An important theoritical implication is increasing export also paves the way for imported capital goods to be entered into the country (Islam M. , 1998). As productivity is increased, investment along with profit grows and the economy enjoys higher growth (Edward, 1993; Levine, 1992). In last two decades, exports of newly industrialized countries grew by 20%. Manufacturing exports entailed 70% of total exports. As a third factor, import of manufactured and productive capital goods increased. The demand for these capital goods indicates the increasing rate of growth. Therefore, the plethora of studies on export and growth make this issue important enough to review. 3.2. Cross-country empirical analyses In light of previous section, many empirical literature also focused on perticular countries or a category of countries to examine the export-led growth hypothesis. In theoritical literature, it is defined that, if export growth coefficients and and output growth coefficients are significantly positive in regression, the country follows export promoting strategies. If output growth causes export growth in regression than the country is labelled IGE or internally generated exports. On the other hand if a export growth coeiicient and output growth coefficient is negetively correlated in the regression for growth, the country follows ERG or export reducing growth strategy (Jung, 1985). Such countries are following inward-oriented strategies rather than outward-oriented policies. Inward-oriented countries may also follow IS (import substitution) trade policy. Many empirical studies on cross-country did confirm the existence of export-led growth for different countries, and in some countries results otherwise is found. Hatemi J. and Irandsout (2000) continued analysis on Ireland, Portugal and Mexico, and significant relationship was confirmed. In the same study, they failed to confirm causal relationship for Greece and Turkey (Hatemi-J.A., 2000). The study by Ghirmay et al. (2001) did find positive relationship of export and growth for a number of developing countries. Just after one year, another study by Greenaway et al. (2002) conducted analysis on a number of selected developing countries and found that the growth rate for these countries dropped immediately after trade reform, for a constant rate of export, but gained momentum following a J-curve response after the affect of trade refor wires out. M. Michaely (1976) analysed 41 developing countries for a significantly large period. The resulting conclusion implicated that while Greece, Taiwan, Portugal, Spain, Israel, Yoguslavia and Koria had rapid growth with increasing export, Portugal did not show significant export growth, while GDP was growing in same pace. On the other hand, when Ethiopia incresed its export performance considerably, but failed to increase its growth to the pace with other countries. On the basis of rank correlations, M. Michaely (1976) concluded that export performance will positively effect growth of a country, only when a country achieves development of a perticular level. Countries below this level will fail to exhibit good export-growth relationships. Bela Balassa(1977) followed similar study conducted by M. Michaely (1976), running rank correlations on a sample of countries that established industrial base for a timeframe of 1960-73. Among these countries, Korea, Singapore and Taiwan adopted EP (ex port promoting) strategies at a very early stage and provided incentive to the exporting sector by subsidizing the sector in many ways. On the contrary, though, Israel and Yoguslavia promoted export during the same period, but their efforts seemed to dim in the later periods. On the other extreme, Argentina, Brazil, Columbia and Mexico, continued the existing trade policy, supporting import substitution (IS). During this period, Chile and India continued their inward-oriented policies and was in the phase of weakly introducing export promotion policies. The resulting conclusion estimated that, while Korea and Taiwan would have less growth with more export, Chile, India, Mexico,Brazil and almost all other countries would have better levels of growth with higher levels of export. The countries that moved to opposite direction is due to the unfavorable internal conditions and policy constraints, the countries have. Similarly, for Phillipines and Srilanka, opposite direction of relation ship is found (Islam M. , 1998). 3.3. Controversial Theories and Evidence Due to the debt crisis and continued recession that prevailed during 1980s, after many countries adopted export promoting strategies, theorists and economicsts were dubious about export-led growth hypothesis. It became a necessity to re-examine the export promoting strategies (Bhagwati J. , 1988). The revived passimistic school of thought was dominated by old and new school of thoughts. The most influencial school of thoughts were suggested by two great contemporay development economists, that were Raul Prebisch (Prebisch, 1952) and Ragner Nurkse (Nurkse, 1953). Prebisch (1952) recommended that, chief exports for newly industrialized countries will decline following a natural cycle, regardless of the trade policy implemented by the home country. Producers of home economy will respond by rapid industrialization and the economy will respond by employing more protection and higher level of restrictions. All these attempts will make export promotion unjustified. The other dominant export passimism was realized by Nurkse(1953), who stressed more on â€Å"balanced growth†. The â€Å"balanced growth† theory suggests that the accelerated pace of growth and exports of developing countries, make foreign markets unable to accommodate imports on sufficient level. Developing economies shift from raw materials to synthetic materials as inputs, and damage exports for developing countries longer run. Riedel (1984) suggests that, demand dominates export performance. It is a biased view towards export growth relationship if that is explained by export performance of selected countries. Export performance maybe more reliant on domestic incentives of a country, rather than the external conditions (Riedel, 1984). The new literatures focus more on successful Asian exporters, which maybe a mistake to be implemented as a general strategy for all economies. The sources of worry advocates that, markets are shifted to export promotion, markets will fail to absorb all exports. The earlier wave of export passimism was afflicted by this idea. Economists have always supported the idea of intra-industry specialization which leads to adoption of inward-oriented policies, and terms an economy as closed economy.The countries that adopt outward-oriented policies to a greater extent, or publicly promotes export promoting strategies, associates some level of government intervention. The government intervention makes sure that exports are promoted, subsidized and invested into. The countries that are empirically supportive of export-led growth hypothesis, mostly follow government intervention. This practice is generalized except countries like Hong-Kong. However, these are exceptional cases and should not be g eneralized (Bhagwati J. , 1988). Economists also view that, export promoting trade policies, make the domestic market less sheltered and susceptible to world economic condition, outside pressure, world competition as well as innovation. This view has also been critisized and the opposite direction is supported by Schumpeterian arguments (Bhagwati J. , 1984). The theory of market imperfections addressed by Fields(1984) suggests that, in presence of excessively high wages, countries may do poorly. An example of this theory is set to Jamaica. Another interesting theory is the satisfaction theory of import substitution suggests that, the export promotion strategies are not suitable for many newly industrialzed countries due to their lack of flexibility for movemet of capital resources. Countries also lack the political capabilities to implement this flexibility (Ruggie,1983). Similar argument is also suggested by Adelman (1984) who argues that, agricultural-demand-led-industrialization strategy should be applied to allo w a country enough time, for it to develop a structural base, before the country can successfully implement export promoting strategies. Export-led growth will follow if the country can achieve a minimum level of development as suggested before. While in the face of rapid growth, many countries are doing well with export promoting trade policies, countries like Taiwan, Sri-Lanka, Phillipines, Jamaica, Brazil, Korea. are examples of countries, that was not in the position to implement export-promoting trade strategies,and the desired export-led growth was not achieved. In some theories, learning by doing or intra-industrial knowledge transfer was an important factor for adopting export promotion strategies. It is believed to be a mean of acquiring economies of scale for industries. The know-how process is a major motivating factor for economies, to support export promotion strategies. However, even, learning by doing effect dims down and may stop completely in absence of newly developed technology (Young, 1991). This makes outward-orientation unjustified and export-led growth, a failure. Import substitution and export promotion strategies do best when they are complementary (Grabowski,1994; Hamilton and Thompson, 1994). One important alternative suggested by Adelman (1984), is the ADLI (agricultural-demand-led-industrialization) strategy. The ADLI argument can be set into the similar footsteps of IGE (internally gorwn exports) of Jung (1985). Adelman (1984) argues that, when the countries became more reliant on industrial export-led growth, the controversies arise as many of least developed countries experienced lower employment, deteriorated income distribution, high level of food imports as domestic demand is not met, and lower level of growth. Therefore, countries required to implement more basic need oriented strategies. The rising foreign exchange constraints, and the serious liquidity problems, least developed countries faced, as they moved towards more export promoting strategies, following the export-led growth hypothesis, newly renewed export passimism (Adelman, 1984). As empirical evidence, causality tests between export and groth conducted by Jung and Marshall (1985) on 37 countries should be addressed. In this empirical study, countries as many as South Africa, Korea, Pakistan, Israel, Bolivia and Peru did not show significantly positive relationship between export and growth. Rather these countries showed export reducing growth, which is the other way around. If these countries implements export promoting trade strategy, the countries will experience crippled economy and lower growth. Countries such as Iran, Kenya and Thailand are in favor of internally generated growth, and in the process of successfully implement export promoting growth policy (Jung, 1985). Looking at the above results, countries therefore, support import substitution as a pro-agricultural trade policy (Adelman, 1984). Countries are also adviced to move towards ADLI strategy in this stage. It may not be favorable for countries to immediately implement export promoting trade strategies, hoping to yield benefits of export-led growth hypthesis. In the primary stage, countries require import substitution policies, to develop intra-indistrial skills, economies of scale, and a trade base to a minimum level. The level in between is a complementary stage between import substitution and export promotion. Countries as India, Malaysia, Bangldesh in South east Asian region, followed import substitution for longer period until they believed to reach the minimum level, before these countries can move towards outward-oriented policies and introduced trade openness, and enjoyed the benefits of export-led-growth. For many countries mentioned above, steps taken in an earlier phase, have backfired. Therefore, the controversies to export led growth is as prevailent as the support toward the hypothesis. 3.4. Empirics on export led-growth and trade liberalization in the context of Bangladesh As one of Asias growing power house economy, The export-led growth hypothesis has been examined in the context of Bangladesh, in many empirical literaures. Among the newly conducted researches, conintegration analyses, vector error correction models, explained many important variables such as manufacturing exports, investment capital to the total exports and growth. This part will briefly review the studies conducted in the context of Bangladesh. Since its independence, Bangladesh embarked in a import substitution trade policy; following the ideology that a pro-agricultural society should be motivated to develop intra-industry to achieve economies of scale (Adelman, 1984). The mounting foreign debt, instable political condition, low productivity and growth, lower national income, did not allow the country to achieve its economic objective. Therefore, the country had to convert its inward looking policies, towards more outward looking policy, and adopted export promoting trade policy in 1982. Many structural adjustments were adviced by world bank and international monetary fund. The country went under furth