<p>The effectiveness of foreign aid in bringing economic and social development is mired in controversy. However, despite the controversial debates on its effectiveness, poor countries of the world have been receiving and using aid as a leverage to relieve themselves from development constraints they faced. Ethiopia is no exception amongst developing countries. Since the time it joined the World Bank group in 1945, foreign capital inflow has remained an important source of revenue for the government. This paper examines the fiscal impact of aid inflow into Ethiopia using time series data for the period 1975-2005. The empirical findings reveal that inflow of foreign aid influences public decision on revenue and expenditure patterns. The result shows that a larger proportion of aid is allocated to capital expenditure and that only a small proportion goes to recurrent expenditure. There is a strong positive association between aid inflow and capital expenditure. The finding also shows that, while a very weak negative association exists between aid and taxation effort, aid and borrowing are used as alternative source of finance.</p>

Due to widespread decentralization of spending responsibilities, increasing revenue power and borrowing capacity of sub-national governments, sub-national borrowing has become an increasingly important source of sub-national finance. While there are arguments for and against giving sub-national authorities room for raising their own financial resources, appropriate sub-national borrowing regulatory framework can reduce chances of defaults and fiscal crises. This dissertation investigates the effectiveness of sub-national borrowing regulations in maintaining fiscal sustainability. More precisely, it tests the hypothesis that is sub-national borrowing is restricted to financing capital investments (the “golden rule”), and if the sub-national governments are provided with some measure of revenue autonomy, then the sub-national borrowing should not endanger fiscal sustainability. Based on the sub-national government panel data for 57 countries between 1990 and 2008 and applying the system GMM estimator and the survival analysis, this dissertation provides support for this hypothesis. The results suggest that the “golden rule” is effective in maintaining fiscal sustainability at both general and sub-national government level. Sub-national tax autonomy, however, seems to have positive but very small marginal effect on fiscal sustainability. The obtained results also emphasize the risk of the soft budget constraint and the moral hazard. Significant central government financing may give encouraging signs to the sub-national governments to over-borrow and to expect being bailed out by the central government. The results obtained in this dissertation imply following policy recommendations. First, sub-national government borrowing does not have to endanger fiscal sustainability if the borrowing regulation framework is well designed and according to specific country circumstances. Second, reducing fiscal dependence on central government financing reduces the risk of moral hazard and improves the effectiveness of borrowing control in maintaining fiscal balance at the sustainable level.

This paper is about the handling of challenging terminology within the technical field of structural engineering. The translation of two texts on structural systems "Antiquated Structural Systems Series", published in STRUCTURE magazine, serves as the basis for this study. The analysis focuses on the search and textual strategies for a selection of difficult terms. The terms are divided into four groups: terms with no Swedish equivalent; terms with more than one Swedish equivalent; acronyms; and measurements. The analysis shows that the search strategies are the same, regardless of term type, and that they involve many steps, including looking for terms in dictionaries and term banks; comparing terms in encyclopedias and parallel texts; and confirming usage. The textual strategies that were helpful in the translation were procedures based on the theories of Vinay and Darbelnet (in Munday 2008) and Ingo (2007), such as literal translation, borrowing, calque, adaptation and addition. The result shows that the chosen textual strategy for each challenging term differed greatly and depended on, for example, context and translator preference.

ABSTRACT Title The Effect of Macroeconomic Variables on Market Premium. Study of Sweden, Germany and Canada Authors Samira Allahyari Westlund Arad Tahmidi Dmytro Sheludchenko Supervisor Christos Papahristodoulou Key words Macroeconomic, market risk premium, GDP, inflation, money supply, primary net lending and net borrowing, regression analysis. Institution Mälardalen University School of Sustainable Development of Society and Technology Box 883, SE-721 23 Västerås Sweden Course Bachelor Thesis in Economics (NAA 301), 15 ECTS Problem statement Risk premium value is of great interest to the financial world, since this value represents the extra return that investors receive considering the risk from investing in financial markets. The fluctuations in stock markets are believed to be influenced by changes in macroeconomic variables. Purpose The purpose of this paper is to analyze the effect of macroeconomic variables on and their relation to market risk premium in Canada, Sweden and Germany in the years 1992 – 2007. Method Multiple Regression Analysis, Ordinary Least squares (OLS) Result Forecasted Growth in real GDP is the only macroeconomic variable which has significant relation with market risk premium. The effect of money supply was found to be insignificant. Net lending and net borrowing had significant negative effect on market risk premium in Canada, whereas in Germany and Sweden the relationship was not significant.

Introduction: A general guideline was introduced on October first 2010 regarding a mortgage cap, limiting the degree of leverage of housing as collateral. Through the new guidelines the marked conditions concerning consumers’ choice of mortgage has changed. The consumers are limited in the sense that they can’t only use mortgage when purchasing a house. In this context there is a higher burden on the consumers in different aspects. In this study we intend to investigate how the consumers’ conditions affect choice of financing option when buying a home. Purpose: The study aims to highlight how consumers situation affect the choice of financing option. Furthermore, the study intends to describe the consumer’s choice of financing. That is how the consumer approaches the purchase with the mortgage cap of 85 per cent. Method: For the study, we have used a quantitative research method. The starting point has been a deductive study, where we from theory collect empirical data. In the collection of empirical data we used a convenience sample. Theory: The study’s frame of reference includes a description of the financing options that consumers can use. Further, how the decision-making process appears in the choice of financing a house purchase as well as how socio-demographic factors; age, income and family affect the process and choice of financing. Conclusion: The study shows that age and income are the two socio-demographic factorsthat have the greatest impact on consumer choice of option in the decision-makingprocess. Further, data from the study shows that mortgage and own savings are the mostrecurring funding option that consumers use. In the use of private loans, we see thatconsumers’ families have a great influence, since the majority have received private loansfrom their parents. Similar relationship can be seen in the usage of guarantor. Forunsecured debt, we see that the use is concentrated among younger consumers.

Drawing upon formal modeling, cross-national statistical analysis, and in-depth case studies, this dissertation explores the relationship between patterns of government revenue generation and political regime stability. Considering both tax and non-tax revenue (the latter of which includes foreign aid and revenue from state-owned natural resource enterprises), and building on recent redistributive theories of regime change, I use formal modeling to generate testable hypotheses about the impact of non-tax revenue on regime dynamics in both democratic and authoritarian regimes. <em>The central prediction is that rises (falls) in non-tax resources increase (decrease) the stability of authoritarian and democratic regimes, by reducing (increasing) redistributional conflicts in society.</em> I provide evidence supporting the implications of the theory for both redistribution and regime stability, drawing upon cross-national time-series statistical analysis as well as in-depth examination of three theoretically important cases: Bolivia, Mexico, and Kenya.The research has important implications for three bodies of literature. First, it advances the broad literature on the political economy of redistribution. The existing literature has generally assumed that government revenues are raised solely by taxation, the source of redistributional conflict. I demonstrate that this is not a plausible assumption---non-tax revenue makes up about a quarter of government revenue on average, and in some countries represents the large majority of government revenue---and that in fact non-tax revenue systematically decreases redistribution.Second, building on this insight, I advance the literature on democratization by developing a theory of how government revenues---both their size and their source---factor into regime change. This work builds on and extends recent influential works that have focused on formally modeling the distributional dynamics underlying regime transitions. Finally, the research sheds light on commonalities between literatures studying different areas of the world. In particular, it argues that there are similarities between insights developed in the literature on the <em>"rentier"</em> state---principally regarding how oil revenues affect regime dynamics---and those developed in the literature on foreign aid and political regimes. The reason is that oil revenues and aid are significant examples of a broader set of resources---non-tax revenues---whose importance has been underappreciated. / Dissertation

<p>This dissertation concerns methods to test whether or not self-control</p><p>is costly, the form of temptation, and the affects different assumptions</p><p>about costly self-control and temptation have on optimal borrowing</p><p>and saving mechanisms. The second chapter shows that costly self-control</p><p>and temptation can be differentiated from changing impatience in a</p><p>stochastic income consumption-savings environment. The third chapter</p><p>describes an experiment to test whether subjects have time inconsistent</p><p>preferences, whether self-control is costly, and if so, whether the</p><p>cost of self-control is time dependent. The fourth chapter describes</p><p>the affects on the optimal borrowing and savings mechanisms that assumptions</p><p>about the myopia of temptation and the strength of costly self-control</p><p>have.</p> / Dissertation

Because there has been a rapid development in wireless networks, it is important to provide quality-of-service (QoS) guarantees as they are expected to support multimedia applications. In this paper we propose a new bandwidth reservation scheme based on the characteristic of the cell equipped with sector antenna and 2-tier cell structure. According to this information, the proposed scheme can predict the next location of each connection and precisely reserve bandwidth in appropriate neighboring cells, not all of its neighboring cells. In addition, the proposed scheme incorporates bandwidth borrowing mechanism into call admission control strategy. The combination of bandwidth reservation and bandwidth borrowing provides network users with QoS in terms of guaranteed bandwidth, call blocking and call dropping probabilities.

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This thesis addresses the borrowing and adaptation of the English discourse marker (DM) anyway into the speech of the Czech-speaking diaspora in Texas, known widely as Texas Czechs (TC). The primary goal of the thesis is to assess which subtypes of 'anyway', according to the schema of Ferrara (1997), are borrowed into TC, and to what extent. Chapter one addresses the sociolinguistic history of the TC community. The historical origins of the people and cultural background are provided. Late in the chapter, I provide a discussion of previous scholarship in the field of TC linguistics over the last half-century. Chapter two addresses the theories of borrowing and code-switching in language. The two are disambiguated, and a basic set of conditions which define the two are proposed. From this, I address Serra's (1998) theory of a mixed-code system, which relies on the knowledge of two separate codes for understanding, but also utilizes borrowings. The works of Fuller (2001) and Weilbacher (2007) in Pennsylvania and Texas German communities are addressed, as is Johnson's (1995) work on Tejano. The chapter concludes with a brief description of DMs. Chapter three describes the subtypes and features of 'anyway' in English according to Ferrara's (1997) schema, as well as surveys a number of possible counterparts for 'anyway' in standard European Czech. Chapter four analyzes borrowed 'anyway' in TC speech as a Ferraran subtype. I disambiguate the uses of various types of anyway, proposing that only anyway, Ferrara's only true DM, is borrowed in TC. I demonstrate that possible functions of native TC DMs similar to 'anyway' function inherently differently than those of Ferrara. I show that 'anyway' is borrowed into TC to fulfill a pragmatic gap in the form of 'anyway', whereas the two adverbial subtypes are not borrowed. In older data, these two were borrowed, but no examples exist in modern speech. I propose that this is indicative of the TC's existence as a mixed-code system, in that knowledge of both English and TC are required to properly choose the appropriate DM and to understand borrowed DMs from the other code. / text