An efficient financial system is one of the foundations for building sustained economic growth and an open, contestable economic system. In its best efforts, finance works quietly at the background, but when things go wrong, financial failures are painfully visible. For an economy to attain sustainable growth in the long run, financial sector development is crucial and indispensable. The financial sector traditionally comprises banks, non-bank financial ...
Saving is considered a vital element in the development process by stepping up the process of capital formation as assets accumulated through saving are commonly used to finance further consumption or investment. Again, total savings in an economy comprises domestic, corporate, foreign and contractual and household. Of these, the importance of household savings is undeniable on account of its rising influence in shaping the aggregate savings in an economy. Again, ...
Just-in-Time (JIT) is a management philosophy catering to the needs of global consumerism. By definition, JIT is an inventory strategy with the principal objective of reducing in-process inventory and eliminating waste and associated costs through different operational activities. Historically, JIT was implemented in a manufacturing organization. However, implementation of JIT entails a number of problems like leaving the suppliers and downstream consumers ...
Banking reforms have played an important role in China’s overall effort to transform a centrally planned economy into a market-based economy since 1978. Although the banking sector has undergone remarkable changes over the period, deep-seated structural problems of asset quality, capital adequacy and profitability continue to pose a challenge to the sector. China quickened the pace of reform in 1998 and seems to be aware of two lessons that can be drawn from ...
Despite the uneven consequence of tobacco consumption, it is on the rising spree for the middle and the low income countries, as evident from over 80 percent of the smokers hailing from developing and transitional economies. Here comes the role of the tobacco industry, having a huge market potential in these countries due to weaker tobacco control measures and increasing prevalence of tobacco consumption among the youth and women. In such a scenario regulation of ...