The Russian Ruble Crisis Of 1998 Economics Essay

The Russian Ruble Crisis Of 1998 Economics Essay The Russian Ruble Crisis of 1998 is termed as among the worst financial crisis to hit the Russian economy. The Crisis is believed to have been triggered by a number of factors. The Asian financial crisis of 1997 is a major cause of the crisis as it led to declines in the world commodity prices (Owyang, Chiodo 2002, p. 7). Just to be appreciated is the fact that Russian economy was heavily dependent on oil. There are other reasons such as the downfall of the Soviet Union in 1991 and the economic difficulties it brought to the Russian nation. Another common cited reason is poor financial policy practices by the Russian government as well as political crisis that were witnessed in the nation earlier that year (Owyang, Chiodo 2002, p. 7). The Russian financial crisis had various political and economic consequences. First, the crisis compromised the confidence of the citizens of Russian to the government of president Yeltsin. Indeed, facing much opposition in the parliament, Yeltsin was forced to fire Kiriyenko  as the prime minister and nominated Foreign Minister Yevgeny Primakov to the position (Tarassova, Kraakman, Black 2000, p. 12). On the economic front, the Russian crisis led to the collapsing of the Russian stock, bond, and currency market on august 13, 1998. This was a direct result of investors fear that the government could devalue the ruble as well as claims of failure by the government to repay its domestic debts. This paper gives a critical analysis on the causes and consequences of the Russian Crisis 1998. Causes of the Russian Crisis 1998 The Russian Crisis 1998 was triggered by a combination of various independent factors. First, the Russian nation experienced a decline in its productivity (Colorado School of Business 2009). According to available statistics, the Russian economic was highly dependent on petroleum, natural gas, metal, timber exports which accounted for an estimated 80 percent of its exports. It is claimed that the Asian financial crisis of 1997 significantly compromised the export demand as well as prices for these key Russian export commodities (Colorado School of Business 2009). All these had the implication of negating the nations ability to pay its workers and its domestic debts, a factor that evidently led the country into a financial crisis. Another cause of the crisis is the fact that the government relied mainly on foreign capital inflows which were marked with extremely high interest rates (McArdle 2010). The sustainable growth of an economy is greatly determined by the ability of the government to finance its affairs from its tax revenue collections. However, the Russian government was in 1998 facing an increase in its internal loan, a factor that called for engagement into external borrowing to finance them (Colorado School of Business 2009). As an explanation of this claim is the move to hike GKO interest rates to an estimated 150 percent by Kiriyenko in June 1998. Irregular internal loan payment is also to be blamed for the Russian crisis 1998 (McArdle 2010). Statistical evidence indicates that despite the many efforts by the government to resolve its internal debts, wage debts, particularly in remote regions continued to grow. This had negative impact on the nations ability to fund key budget items such as communal utilities among others. It is claimed that the government was faced with an estimated $12.5 on wage debts by early August 1998 (Owyang, Chiodo 2002, p. 9). This prompted workers to engage on strikes, a move that further complicated the economic productivity of the nation. Still, the war on Chechnya and its economic implications were cited as a potential cause of the Russian financial crisis of 1998 (Tarassova, Kraakman, Black 2000, p. 27). According to available historical information, the war cost on the Russian economy is approximated at $5.5 billion. Just to be appreciated here is the fact that this cost is exclusive of the costs incurred in reconstruction of the ruined economy of Chechnya after the war (Tarassova, Kraakman, Black 2000, p. 27). The opposition by the left wing parties of the government which led to failure to adopt anti-crisis policies by the government by mid 1998 is also another cause of the crisis. It is also claimed that prior to the meltdown, a loan given to Russian by the world bank and the International Monetary Fund was stolen, thus never functioned to serve its intended purpose. The most cited reason behind the Russian financial crisis is the ruble-dollar exchange rates crisis (McArdle 2010). During this time, the Russian government had ordered the central bank to ensure that the ruble exchange rates remained at a preset range. Based on this reasoning therefore, the central bank was forced to invest its foreign reserves in buying rubles if the exchange rate seemed to go beyond such limits. Indeed, this was a major threat to its ability to maintain reasonable foreign reserve (McArdle 2010). It is claimed that the Russian government and other non-government borrower had borrowed large amounts of foreign investment capital over the 1995-1998 period in the form of US dollars. This meant having a huge US dollar inflow for serving these debts (Marshall 2001, p. 26). However, the central bank had spent most of its foreign reserve in sustaining its floating peg policy on the rubles. This only served to negatively affect the exchange value for rubles as well as the governments ability to settle the huge international capital debts. This was further compromised by the poor government policies which negated investor confidence, causing them to sell most of their rubles and assets in Russian (Marshall 2001, p. 29). Indeed, the collapsing of the stock bond and currency market was a direct result of lack of confidence by investor due to eminent devaluing of the exchange value of ruble by the government. According to available information, the value of the stock market had reduced by an estimated over 75 percent between January and August, 1998 (Colorado School of Business 2009). This, coupled with the other economic problems facing the nation at the time signified a real threat to investments. Economic and political implications of the crisis The Russian crisis of 1998 had various social, economic and political consequences. Following the crisis, the ruble exchange value steadily depreciated reaching 21 rubles per US dollar by the September 2nd 1998 (Colorado School of Business 2009). This move prompted the central bank to abandon the ruble floating peg policies, a factor that saw the value of ruble depreciate to 22.5 by the end of the year. It is estimated that the inflation rate in Russian economy in 1998 reached the 98 percent considerably hiking the welfare costs of its citizens (McArdle 2010). The crisis oversaw the closure of various banks in Russia such as Inkombank, Oneximbank and Tokobank. It is claimed that the wage debts by coal miners in the nation grew to more than one percent of the governments overall budget (Colorado School of Business 2009). Still, the crisis led to an increase in food commodities in the nation by 100 percent (Owyang, Chiodo 2002, p. 13). In a move to stabilize its inflated economy, the government quadrupled the prices of imported products. All these served to negate the social and economic lifestyle of the Russian citizens. Another consequence of the Russian crisis is that it led commodity and financial controls through administrative techniques by region governments (Tarassova, Kraakman, Black 2000, p. 27). Governor Aleksandr Lebed for example signed a resolution for bringing down commodity prices in the Krasnoyarsk Krai region. It is also claimed that the eastern region imposed banns for commodity flow beyond the port city to safeguard the food supply for the city residents. In Baltic, tax to the federal government was suspended. All these had the end result of compromising regional budgets and GDP from 18.2 percent in 1997 to an estimated 10.8 percent during the first quarter of the 2000 financial years (Owyang, Chiodo 2002, p. 16). The Russian crisis led to a heated political crisis on the Yeltsin government. By august 23, 1998, Yeltsin fired the then prime minister Kiriyenko (Owyang, Chiodo 2002, p. 16). However, his intend to reinstate Chernomyrdin as the prime minister and his successor for the presidency received massive opposition by the parliament. This is because Chernomyrdin was claimed to have failed in implementing economic reforms in March 1998 when he was the prime minister (Tarassova, Kraakman, Black 2000, p. 31). The parliament nevertheless anonymously approved the appointment of Foreign Minister Yevgeny Primakov as the prime minister in September 11 as he was perceived as capable of resolving conflicts by Russias quarreling political interest groups. Conclusion It is clearly established that the Russian crisis 1998 was caused by structural weaknesses of Russias fiscal management as well as currency crisis, transparency and contagion. The ruble floating peg policy by the central bank compromised its foreign reserves thus limiting its ability to settle its international capital debts (McArdle 2010). This was further complicated by its huge wage debts and the eroded investor confidence which led to the sale of most their assets including rubles and stocks. Therefore, the crisis is a real example of the social, economic, and political implications of having poor government policies.

Family Interaction

Introduction This paper describes a significant learning family interaction that occurred when I was working in a community placement as a student nurse. I would be reflecting on that family interaction and use the â€Å"One Question Question† approach and analyse how this would contribute to your learning needs and nursing practice. Critical or significant interactions can be defined as situations that make an impression or have a special meaning to an individual.The analysis of such incidents, a useful reflective technique helps us to identify professional capabilities, increase knowledge of self and improve patient care outcomes (Lian, 2001) and lead to practice that is better informed than before the reflection (Usher et al, 2001). Critical reflection on one nurse-family interaction and the impact I was in my community placement where I got an opportunity to interact with an adolescent who was Insulin Dependent Type 2 diabetes and his family.The community nurse visited for the monitoring of the BGL tests and insulin administration as he had fluctuating BGLs and he had a history of not complying with the insulin. He was admitted to hospital numerous times with episodes of hypoglycaemias and hyperglycaemias. The family were very concerned about him and were worried about his erratic lifestyle. I must say the interactions I had with this family had some impact on me and I realised my shortcomings and learning needs. I used John’sIs this the right essay for you? Watch the video below to read 2 more pages now. or Sign Up for Free and read the full essay Cite This Essay APA (2011, 05). Critical Reflection on One Nurse-Family Interaction. StudyMode. com. Retrieved 05, 2011, from http://www. studymode. com/essays/Critical-Reflection-On-One-Nurse-Family-Interaction-708992. html MLA CHICAGO Welcome StudyMode. com is the web's leading learning tool. We inspire millions of students every day with over 650,000 model essays nd papers, AP notes and book note s. Learn More Related essays Weekly Critical Reflection: Week One †¦ Weekly Critical Reflection: Week One 1. a. Identify one legal rule†¦ 4 pagesJan 2012 Critically Reflective Portfolio Extract Related To One Of The Nmc (2004) Standards Of Proficiency For Pre-Registration Nursing Education, Allowing The Integration Of Theory With Practice †¦ assignment is to produce a critically reflective portfolio extract related†¦ 10 pagesMar 2011 a 2000 Word Reflection On One Specific Conversation Where Personal Communication And Interpersonal Skills Has Had a Direct Impact On The Patient's Nursing Care †¦ A 2000 word reflection on one specific conversation where personal†¦ 9 pagesMar 2012 Nursing Mentorship Critical Reflection †¦ my mentees as possible. To that end, this essay will be a critical reflection†¦ 12 pagesJul 2012 a Critical Reflection On Pshe †¦ A critical reflection on PSHE This essay will look at the teaching of an†¦ 12 pagesMay 20 11

An Industry View of the Organic Baby Food Market Essay

â€Å"The organic niche for baby-food processors and retailers may continue to be a window of opportunity for increasing sales in an otherwise stagnant industry. † There are limited studies done on the organic baby food niche, but it is proven by many studies that its popularity and market share continue to grow at a double digit rate when compared to conventional baby food products. * Organic baby products averaged around 7. 7% total market share in 2010, and expected to be 10. 9% by 2014. * Growth is partially contributed to the expanding sector of consumers buying only organic products. * It is important to note that Individual manufactures and retailers are never again expected to achieve growth rate like that in recent years (since 2000) due to the saturation and leveling of the market. A growing number of baby food consumers are realizing the benefits of organics over conventional counterparts, and are in most cases willing to pay a premium for organic products. However; being organic or not organic has yet to become a major determinate in making baby food purchasing decisions. * The most important factor influencing the decision to purchase organic vs. conventional remains nutrition. Organic or not organic comes in a very distant 4th according to a study done by Bond, Thilmany, and Bond. * The same study concluded that although most people are willing to pay a premium for organic baby food, it is not considered to be a dominate purchasing factor. * On the other hand, when looking specifically at consumers who purchase only organic food, organic baby food is among the most popular items purchased. Illustrations below produced by Agriculture and Agri-Food of Canada show that per capita dollars spent on organic baby food and the compound annual growth rate for organic baby food is second only to organic ice cream. With the increasing number reputable companies starting to produce organic baby food, reliance on â€Å"trendy† advertising, product innovation & development, SEO, a constant effort to educate consumer awareness, and acquiring shelf space everywhere possible is recommended to stay competitive. * Eating at home and eating healthy are important trends that are likely to increase demand for organic foods in general. * The misconception that organic food is only accessible and purchased by wealthier consumers is fading. Organic products are still considered to be a niche market, but organic packaged food has increasingly penetrated mass market grocery retailers such as Wal-Mart and Whole Foods. * On-line sales will continue to increase as people become more connected and comfortable with technology. Especially true for the next generation of mothers who are already experts in convenience and on-line shopping. Continue to focus on developing your e-commerce capabilities. * The organic food retail industry is highly fragmented and comprised of many small local and regional chains. Focusing on expanding into these stores will allow you access to additional locations; therefore increasing brand recognition and influence on consumer decisions. * Develop relations with suppliers. Major competitors manufacturing organic baby food include: * Earth’s Best- Gerber. * Hain Celestial Group – Happy Family * Happy Baby- Kamut International More at http://www. theorganicpages. com Bottom line; with the national influx of local health food stores and the expanding selection available at grocery stores and boutiques, organic baby food should provide for a steady market increase in the years to come. People are increasingly requesting organic products, and like most adopted trends, these parents will pass on their buying habits to their children who will also become devoted patrons. The key to long term success will be to stay on top of your industry. This includes aggressive marketing strategies, developing good business relations with you suppliers and retailers, and actually understanding what your consumers want rather than telling them what they want.   [ 1 ]. Demand for Organic and Conventional Baby Food – Victoria S. LeBeaux, James E. Epperson, Chnng L. Hnang (March 1, 2009) [ 2 ]. Agriculture and Agri-Food of Canada [ 3 ]. Demand for Organic and Conventional Baby Food – Batte et al. (2007) [ 4 ]. Datamonitor, Whole Foods Market, Inc Market Profile.

Abnormal Psychology - Free Essay Example

Sample details Pages: 4 Words: 1222 Downloads: 8 Date added: 2018/12/30 Category Psychology Essay Type Case study Level High school Topics: Mental Health Essay Did you like this example? Presenting symptoms Carl Landau symptoms are behavioral and emotional. They include, he has excessive showering and washing, he studies and dresses following magic rituals. He has a behavior of coughing and hissing before taking food. Don’t waste time! Our writers will create an original "Abnormal Psychology" essay for you Create order When eating, he has a behavior of tossing his head. Carl is observed to walk in a manner of wiping and shuffling his feet when walking. Has a deteriorated healthy and his body is weak. He looks confused and not composed, (Carson et al., 2000). His funny physical appearance with long and dirty hair. He is always withdrawn and does not interact with anybody. He has a behavior of urinating at the corner of his room. He has stopped brushing. He wears the same close and does not wash them. He has developed a funny behavior of overturning wastebaskets and removing curtains. He has developed a behavior of selecting some food while avoiding others. Has a behavior of doing a given activity repeatedly without being occupied with another. He keeps his left hand out of shirt withdrawn making it appear as if the arm is injured. He does not sleep at night and is ever occupied with his disturbing or problematic behavior. Background info / Personal history Carl Landau is a 19 years old. Carl gender is a male, belonging to African American race and is single. He is a first-year student in college undertaking philosophy as his major subject. He is attached to some ceremonial rituals and beliefs and hence is culturally traditional. He has isolating behavior and does not associate himself with friends. Has a deteriorated healthy and his body is weak. Has a deteriorated behavior and he cannot keep by himself. He has emotional stress, (Carson et al, 2000). Does not engage in personal hygiene and has neglected his appearance. He has a trauma after he was harassed by his classmates. He also has long and dirty hair. Carls history items are relevant to his symptoms. This is because most of his history items are associated with his abnormal behavior which seems to be developing to be more complex as time goes on. His initial abnormal behavior was not as chronic as the current abnormal behavior that has turned disturbing, very complicated which ha s made his parent to take him to a psychiatric hospital for diagnosis. Assigned Diagnosis After a thorough diagnosis of Carl Landau disorder using DSM-V diagnostic criteria, I traced post-traumatic stress disorder to be the source of his emotional and behavioral change. Rationale for diagnosis The disorder was diagnosed using DSM-V diagnostic criteria. After focusing on various presenting symptoms, I applied DSM-V diagnostic criteria and focused on the change of behavior of Carl Landau that according to his clinical history shows that his behavioral change was observed after his classmates had harassed him, (Carson et al, 2000). His symptoms also display emotional disorder as he has even withdrawn himself from people. Application of DSM-V diagnostic criteria involves analysis of patients described behavior that may be related to emotional dysfunctions that are associated with an individual as a result of personal stress especially resulting from harassment. According to DSM-V, individuals suffering from emotional stress those results in behavior change, the cause of emotional stress should be determined as the first step in diagnosis process of the disorder. After tracing the origin of Carl from harassment from his classmate and this opened the way for more diagnosis and analysis of Carl disorder focusing on post-traumatic stress disorder. DSM-V diagnostic criteria further give that as a result of continued memory flashback of such emotional event in the mind of the victim facilitates re-experiencing of such event which triggers victims emotion with high impact, (Goethe et al, 2017). After a short period, the victim starts to experience frequent flashbacks and nightmaresof threatening event. Victims of such events are faced with emotional feelings that make them start withdrawing slowly from other people since they do not trust anybody anymore. Such victims are also are characterized with quick to anger and being chronically over-aroused. Within a period of up to three months, the victim that has emotional feelings develops a trauma as a result of such traumatic event. This is a point when the total behavior of the trauma event victim st arts showing behavioral changes such as isolation, continued fear not only to human beings but also to almost everything that comes across traumatized individuals, (Carson et al, 2000). For instance, analysis of Carl behavioral change was identified after a short time of harassment, and it continued becoming complicated. Has the trauma continues to grow in ones brain more effect of such trauma continues to be observed. For instance, emotional and behavioral change of Carl after it started deteriorating; even parents were in a position to note the change in his behavior and emotional change thus why they took him to a psychiatric hospital. And thus concluding that, Carl disorder diagnosis using DSM-V diagnostic criteria fitted the characteristics of his disorder and the results obtained was effective. Differential diagnoses It is also possible that Carl could also be suffering from the obsessed, compulsive disorder. This is a kind of disorder that many individuals suffer from as a result of obsession thoughts such as aggressive impulses, somatic concern as well as thoughts of contamination. Focusing on Carl change of behavior, we can find that he is obsessed with the fear of contamination of food thats why he coughs and produces hissing sound to determine whether the food has poison. Individuals suffering from obsession are characters with personal withdrawal from other people, and hence they are much conserved with doing their activities, (Carson et al, 2000). They are also associated with compulsions which include thoughts or action that individuals suffering from obsessed, compulsive disorder provide relief to them. For instance, such victims may be concerned with praying and worshiping or excessive washing and cleaning. From the Carl symptoms, initially was taking excessive bathing and showers and t hus he could also be suffering from the obsessed, compulsive disorder. Treatment recommendations Psychological treatment of post-traumatic stress disorder involves making the tarmac victim gradually re-experience the necessary aspects of traumatic events which are effected by supportive context. This ensures that such person has developed essential and effective coping procedures that highly aids in impacting emotional learning which makes the traumatized individual recover from such trauma. For instance, a person who has post-traumatic stress disorder as a result of harassment need to be exposed to such event special in a film context, (Goethe et al, 2017). This will enable him/her to develop alternative or repulsive ability to such traumatic events. Prognosis Individual diagnosed with post-traumatic stress disorder have the average likelihood to recover from such disorder since it affects their brain. But after they have started the process of recovering using either psychological or clinical; method, there is a high likelihood that they will recover completely from it. References Carson, R. C., Butcher, J. N., Monika, S. (2000). Abnormal psychology and modern life. Needham Heights, MA: Allyn Bacon. Goethe, W. F., Duello, J. A., Schmitt, A. L., Sullivan, J. R., Rangel, A. (2017). Comparing Delivery Approaches to Teaching Abnormal Psychology: Investigating Student Perceptions and Learning Outcomes. Psychology Learning Teaching,? 16(3), 336-352. Schaefer, J. D., Casper, A., Balky, D. W., Harrington, H., Hoots, R., Harwood, L. J., Moffitt, T. E. (2017). Enduring mental health: Prevalence and prediction.? Journal of abnormal psychology,? 126(2), 212. Abnormal Psychology - Free Essay Example Sample details Pages: 1 Words: 448 Downloads: 1 Date added: 2019/07/30 Category Health Essay Level High school Tags: PTSD Essay Did you like this example? Introduction According to Abnormal Psychology ( 7th edition), PTSD is termed as an anxiety disorder in which fear and associated symptoms continue to be experienced long after the traumatic situation thus the term post-traumatic. The book explains explicitly a vivid horror of what PTSD might be too for the old veterans. Two-thirds of the veterans interviewed describe the atrocities of war such as witnessing their colleagues wounded or dying during battlefield moments. These flashbacks and memories create a feeling of self-blame and guilt which torments them for the better part of their lives. However, it is evident that women are more prone to PTSD symptoms compared to men (Corner, 2010). Nonetheless, they can come forward and seek guidance, unlike men who are afraid to admit they are in need of support as it could be a sign of weakness. When people who have PTSD takes a long period before seeking counseling guidance, they are at more risk of experiencing chronic symptoms that are difficult to treat since the fear, anxiety, and guilt continues to build rapidly into them. However, there is a treatment of PTSD; diagnosis must be given. Debriefing is one of the most sorts out treatment strategy used to treat PTSD. It is a preventative strategy. The main aim of debriefing is counseling people (Corner, 2010). Don’t waste time! Our writers will create an original "Abnormal Psychology" essay for you Create order What groups of people does PTSD affect? Anybody can develop PTSD at any age. This incorporates war veterans and also overcomers of physical and rape, misuse, vehicle mishaps, calamities, dread assaults, or different genuine occasions. Not every person with PTSD has experienced a hazardous occasion. A few encounters, similar to the sudden or unforeseen passing of a cherished one, can likewise cause PTSD. As per the National Center for PTSD, around seven or eight of each 100 individuals will encounter PTSD sooner or later in their lives. Ladies are bound to develop PTSD than men. A few injuries may put a person at a higher hazard, and natural factors like qualities may make a few people bound to create PTSD than others. What are the side effects of PTSD? Indications more often than not start inside three months of the horrendous occurrence. However some of the time they start later. For indications to be viewed as PTSD, they should last more than a month and be sufficiently serious to meddle with working seeing someone or work. The course of the ailment fluctuates from individual to individual. A few people recoup inside a half year, while others have side effects that last any longer. In a few people, the condition winds up constant (progressing). A specialist who has experience in helping individuals with psychological sicknesses, for example, a specialist or analyst, can analyze PTSD.