Zimbabwe is currently experiencing unprecedented hyperinflation, which is impacting on the effectiveness and efficiency of businesses operating in this unstable economic climate. The current skewed economic policies are producing unusual threats for these businesses but are also providing unusual opportunities for exploitation. Some of these threats can be summarised as the breakdown of social infrastructure, which has worsened the effects on these operations of low world market prices for primary products. There is a large amount of strategic systems and controls theory about management in turbulent operating environments. Most of these focus on survival against fast moving competition from rivals and substitutes, rapid pace of technological change and similar developed country problems. Conventional strategic theory relies on stable currency and procurement environments and is not well adapted to operations in hyperinflation situations. This paper reports the results of a study of strategic changes introduced as survival mechanism by four businesses with a long operating cycle in primary agricultural production. The study examines the relevance of specific strategic theories to each of the respondents. The respondents questioned all expect that the economic situation will return to "normal" and that these strategic adjustments will be replaced with conventional theory soon thereafter. / Thesis (MBA)-University of Natal, 2003.

The global financial crisis has proved to have had a significant impact on countries worldwide and South Africa was not spared of this global phenomenon. The ecological systems theory, family systems theory and gestalt field theory accentuate the impact a change within the environment can have on interconnected systems and it is therefore argued that the global unstable economy can have a significant impact on families and children. Literature indicates a vast amount of confirmation on the impact of the financial crisis on already poverty stricken areas. On the contrary, less focus is offered on the impact of the financial crisis on families within middle to upper class communities. Preliminary research confirms that although the basic needs of these families (such as food and shelter) have not been affected, significant change with regards to luxuries and expenditure patterns is present. Due to the fact that parents within families are also faced with financial difficulties, these changes are not facilitated and discussed with children and adolescents, causing unresolved emotions and uncertainties. This research was therefore aimed at the development of web based assistance for parents. In addition to the set aim of this research, the study arrived at findings that indicate and emphasise the important contribution of this study. Intervention research as research method was used in the conducting of the study. The developed web based assistance proved to serve as a functional tool for parents in addressing financial issues with their children and adolescents. It also raised parents’ awareness of the impact that a change in finances in the family can have which empowered the parents as well. It was also significantly noted that the website can be utilised within an educational setting which enhances the applicability of this study. The developed assistance contributes to society as it serves as a cost effective, accessible means of providing parents with practical guidelines and activities to help their children and adolescents deal with the effects of economic instability within the family. / PhD (Psychology), North-West University, Potchefstroom Campus, 2014

The global financial crisis has proved to have had a significant impact on countries worldwide and South Africa was not spared of this global phenomenon. The ecological systems theory, family systems theory and gestalt field theory accentuate the impact a change within the environment can have on interconnected systems and it is therefore argued that the global unstable economy can have a significant impact on families and children. Literature indicates a vast amount of confirmation on the impact of the financial crisis on already poverty stricken areas. On the contrary, less focus is offered on the impact of the financial crisis on families within middle to upper class communities. Preliminary research confirms that although the basic needs of these families (such as food and shelter) have not been affected, significant change with regards to luxuries and expenditure patterns is present. Due to the fact that parents within families are also faced with financial difficulties, these changes are not facilitated and discussed with children and adolescents, causing unresolved emotions and uncertainties. This research was therefore aimed at the development of web based assistance for parents. In addition to the set aim of this research, the study arrived at findings that indicate and emphasise the important contribution of this study. Intervention research as research method was used in the conducting of the study. The developed web based assistance proved to serve as a functional tool for parents in addressing financial issues with their children and adolescents. It also raised parents’ awareness of the impact that a change in finances in the family can have which empowered the parents as well. It was also significantly noted that the website can be utilised within an educational setting which enhances the applicability of this study. The developed assistance contributes to society as it serves as a cost effective, accessible means of providing parents with practical guidelines and activities to help their children and adolescents deal with the effects of economic instability within the family. / PhD (Psychology), North-West University, Potchefstroom Campus, 2014

La situation préoccupante de l'économie internationale lors des dernières années révèle la nécessité urgente de repenser la régulation économique contemporaine. Ce travail de thèse se centre sur l'étude du Système Monétaire International (SMI) et soutient que celui-ci est un facteur d'instabilité. L'objectif de cette recherche est double. Il s'agit d'abord de montrer que l'utilisation de monnaies nationales dans les opérations économiques internationales provoque des tensions pouvant déboucher sur des crises. La vérification de ce premier point nous mène, ensuite, à proposer des éléments pour une possible réforme structurelle du SMI.Pour cela, la recherche s'appuie sur les apports théoriques de différents courants qui permettent de détecter la formation de tensions propres au SMI dans des contextes historiques très différents. Sur cette base, la thèse soutient qu'au fur et à mesure que les relations économiques internationales se développent, le SMI provoque des tensions croissantes qui empêchent une gestion stable de la liquidité internationale sur le long terme.En partant de ce constat deux analyses sont menées : d'une part, celle des formes que ces tensions ont prises depuis la généralisation de l'utilisation des monnaies-clé, d'autre part, celle des stratégies suivies par les Etats, non seulement pour se placer dans le SMI mais aussi pour calmer les tensions du système. Cette analyse intègre également une étude critique de la crise contemporaine et plus particulièrement des tensions observées aux Etats-Unis et au sein de l'Eurozone. Tout en admettant la multi-dimensionnalité et la complexité de cette crise, ce travail met en lumière le rôle déterminant qu'a eu l'architecture monétaire dans la formation des instabilités. En effet, la crise résulte à la fois d'une régulation de type libéral du marché financier, et, des tensions cumulées à l'intérieur des zones.Finalement, pour apporter une réponse à ces défaillances du SMI, la thèse propose une série de réformes structurelles, autant sur l'aspect financier que monétaire. / The worrying situation of the international economy in the last years clearly shows the necessity to rethink the international economic regulation. This PHD thesis focuses on the study of the International Monetary System (IMS) and claims that it is a destabilizing factor. The research has a two-fold purpose. First, it shows that the use of national money at an international level creates tensions that can ultimately lead to economic crisis. Once this assertion is verified, some proposals are made for a structural reform of the IMS.For this double aim, a heterogeneous theoretical approach is built in order to detect inherent tensions of the IMS in different historical contexts. On that basis, the thesis argues that while international economic relations develop, the IMS creates inherent tensions that make it difficult to grant a stable management of international liquidity.In the light of this, two analysis are developed in this research. First, it is shown how inherent tensions have repeatedly appeared in the international economy since the generalization of the “key-currency” system. Second, the research explains the different national strategies pursued both for the integration in the IMS and for relieving the observed tensions. Recent tensions in the United States and in the Eurozone are studied carefully. From the study of these cases one main conclusion is made about the instability of the IMS, which is that crisis occurs due to destabilizing dynamics in a liberalized financial system and from accumulated tensions inside and among monetary zones.Finally, in order to correct the failures observed in the international monetary architecture, some structural reforms are proposed, both in the financial field and in the monetary one.

We extend sociodynamic modeling of the financial business cycle to the Euro Area and Japan. Using an opinion-formation model and machine learning techniques we find stable model estimation of the financial business cycle using central bank lending surveys and a few selected macroeconomic variables. We find that banks have asymmetric response to good and bad economic information, and that banks adapt to their peers' opinions when changing lending policies.

The purpose of the thesis is to gain more insights into the factors of business-to-consumer (B2C) relationships and how they can be used to mitigate negative changes in consumer behaviors during crises. In today's changing landscape, companies are faced with the challenge of understanding and managing consumer behavior in moments when they are hit by unpredictable events in the form of crises, where the importance of B2C relationships can have a significant influence on consumer behavior. The study employs a qualitative research method, utilizing semi-structured interviews with consumers to gain valuable insights into their experiences and perceptions. The study supports and builds on the existing theoretical framework and provides more insights into the subject. The results highlight the importance of establishing and maintaining relationships with consumers during crises, and the significance of trust, commitment, and communication as important factors within these relationships. The paper contributes to companies' ability to maintain consumers during crises. Ultimately, the results of this thesis enable companies and marketers to effectively manage and understand the importance of B2C relationships as well as navigate the complexities of consumer behavior during times of crisis.

Approved for public release, distribution is unlimited / Ethnicity, sectarianism and economic instability are fundamental variables of internal security threats to Pakistan. Religious extremism has created an unenviable image of Pakistan in the eyes of the rest of the world and has affected the country adversely. At the same time inter-provincial grievances could potentially cause serious damage to the federation. Despite recent economic recovery and sound macro policies, the absence of genuine socio-economic development has provided ethno-sectarian elements and regional forces grounds to exploit and weaken Pakistan internally. This paper argues that ethno-sectarian problems are major security threats to Pakistan and will remain a huge impediment to the goals of economic prosperity. Interdependence of these multifaceted threats and their overall impact on internal security is the focus of this analysis. Pakistan needs to address these national security threats and find a viable solution in a reasonable timeframe to find its rightful place in the community of modern nations. The immediate requirement is to introduce political, economic and education reforms and take bold initiatives to obviate present and future threats. This paper recommends three-pronged strategy to counter ethnosectarian threats to Pakistan: halt then reverse present trends, enforce rule of law and lastly introduce fresh incentives for socio-economic development. / Lieutenant Colonel, Pakistan Army

The diploma thesis analyses the influence of money on the economic instability by the view of Post Keynesian economic theory. The paper answers the question, what creates the economic instability and if it's possible to eliminate or least reduce the instability. The money is here always seen as credit, which is made by institutions on the financial market. We need trust to create money. However the confidence is based on long-term expectations, which are not rational. The result of the analysis is that the trust growth in economy leads to growth of creation of money, whereby more money based on irrational, by psychology influenced expectations, is made. The economy becomes less stable, because there is more money in it, than people will have in the future to pay for its extinction. As the irrational expectation is an exogenous variable, which basically cannot be influenced, the economic instability is ineliminable and therefore allied to economy. We can only reduce instability by focusing on limiting factors in the creation of money, or on areas, where the irrational action can vent itself. Into consideration comes regulation of the financial institutions size, or regulation of international capital flow.

O fato de haver na economia brasileira um baixo volume de crédito ao setor privado, tornando mais difícil o acesso das empresas a financiamentos que lhes possibilitem aceitar projetos de investimentos que as faria maiores e mais lucrativas, desenvolvendo o setor empresarial e a sociedade como um todo, é a motivação deste trabalho que busca avaliar o impacto de três fatores específicos no nível de crédito ao setor privado existente em um país: (i) o nível de eficiência jurídica; (ii) o grau de instabilidade econômica; e (iii) o volume de poupança total. A importância de tais fatores é fundamentada na revisão da literatura e sua análise, através do uso de regressões simples e múltiplas do tipo cross-section envolvendo 207 países, confirmou em todas as especificações a hipótese de que quanto mais eficiente for o sistema jurídico de um país, maior será o volume de crédito nele disponível. O grau de instabilidade econômica e o nível de poupança se mostraram também fatores condicionantes do volume de crédito, mas não em todas as especificações e com um impacto menor ao verificado para o sistema jurídico. Estimativas mostraram que o volume de crédito ao setor privado no Brasil seria 43% superior ao observado caso houvesse uma melhoria de apenas meio desvio padrão nas medidas referentes às três variáveis independentes acima citadas. Fatores adicionais foram brevemente avaliados como o nível da taxa de juros real, o grau de participação nos fluxos internacionais de comércio e o nível de desenvolvimento. Esses fatores se mostraram também importantes e merecem estudos que os tenham como foco. Espera-se com este estudo contribuir para a compreensão do funcionamento do mercado de crédito e para a discussão a respeito de medidas e posturas que possam ser adotadas no Brasil e no mundo visando seu desenvolvimento, que se reflete no desenvolvimento das empresas e da sociedade. / The fact that the Brazilian economy has a low volume of credit available to the private sector, making it difficult for the companies to have access to loans which would able them to accept investment projects and could make them larger and more profitable companies, developing the business sector and the society, is the motivation of this work that reaches to evaluate the impact of three specific factors in the credit volume existing in one country to the private sector: (i) the level of the legal system efficiency; (ii) the economic instability level; and (iii) the total volume of savings accounts. Those factors importance are based on the literature review and it’s analysis, by the use of simple and multiple cross-section regressions involving (two hundred and seven) 207 countries, have confirmed in all of the specifications that as more efficient is its legal system, higher will be the volume of credit available in such country. The economic instability level and the total volume of savings accounts have showed also to be factors related to the credit volume, but not in all specifications and with a lower impact compared to the impact verified by the legal system. Estimations have showed that the credit volume to the private sector in Brazil would be 43% higher than the actual in case an improvement of only half standard deviation in the measures referred to the 3 independent variables above mentioned. Additional factors were also briefly evaluated, like the real interest rate level, the participation on the international trade flow and the development level. Such factors have also showed importance and do deserve studies of their own. It is a purpose of this study to contribute for the understanding of the credit market and its performance and for the discussion of measures and postures, which could be adopted in Brazil and in the world objecting its development that reflects on the companies and the society development.

O fato de haver na economia brasileira um baixo volume de crédito ao setor privado, tornando mais difícil o acesso das empresas a financiamentos que lhes possibilitem aceitar projetos de investimentos que as faria maiores e mais lucrativas, desenvolvendo o setor empresarial e a sociedade como um todo, é a motivação deste trabalho que busca avaliar o impacto de três fatores específicos no nível de crédito ao setor privado existente em um país: (i) o nível de eficiência jurídica; (ii) o grau de instabilidade econômica; e (iii) o volume de poupança total. A importância de tais fatores é fundamentada na revisão da literatura e sua análise, através do uso de regressões simples e múltiplas do tipo cross-section envolvendo 207 países, confirmou em todas as especificações a hipótese de que quanto mais eficiente for o sistema jurídico de um país, maior será o volume de crédito nele disponível. O grau de instabilidade econômica e o nível de poupança se mostraram também fatores condicionantes do volume de crédito, mas não em todas as especificações e com um impacto menor ao verificado para o sistema jurídico. Estimativas mostraram que o volume de crédito ao setor privado no Brasil seria 43% superior ao observado caso houvesse uma melhoria de apenas meio desvio padrão nas medidas referentes às três variáveis independentes acima citadas. Fatores adicionais foram brevemente avaliados como o nível da taxa de juros real, o grau de participação nos fluxos internacionais de comércio e o nível de desenvolvimento. Esses fatores se mostraram também importantes e merecem estudos que os tenham como foco. Espera-se com este estudo contribuir para a compreensão do funcionamento do mercado de crédito e para a discussão a respeito de medidas e posturas que possam ser adotadas no Brasil e no mundo visando seu desenvolvimento, que se reflete no desenvolvimento das empresas e da sociedade. / The fact that the Brazilian economy has a low volume of credit available to the private sector, making it difficult for the companies to have access to loans which would able them to accept investment projects and could make them larger and more profitable companies, developing the business sector and the society, is the motivation of this work that reaches to evaluate the impact of three specific factors in the credit volume existing in one country to the private sector: (i) the level of the legal system efficiency; (ii) the economic instability level; and (iii) the total volume of savings accounts. Those factors importance are based on the literature review and it’s analysis, by the use of simple and multiple cross-section regressions involving (two hundred and seven) 207 countries, have confirmed in all of the specifications that as more efficient is its legal system, higher will be the volume of credit available in such country. The economic instability level and the total volume of savings accounts have showed also to be factors related to the credit volume, but not in all specifications and with a lower impact compared to the impact verified by the legal system. Estimations have showed that the credit volume to the private sector in Brazil would be 43% higher than the actual in case an improvement of only half standard deviation in the measures referred to the 3 independent variables above mentioned. Additional factors were also briefly evaluated, like the real interest rate level, the participation on the international trade flow and the development level. Such factors have also showed importance and do deserve studies of their own. It is a purpose of this study to contribute for the understanding of the credit market and its performance and for the discussion of measures and postures, which could be adopted in Brazil and in the world objecting its development that reflects on the companies and the society development.