Dbq Essay on Geographies Affects on the World Free Essays

Geology DBQ The old world is exceptionally novel, and here and there intense to make sense of. The hardest piece of tackling the secrets of antiquated occasions is getting in the psyches of the individuals living in those days. Nobody can totally comprehend the full impact of a locales topography on the forming of development. We will compose a custom article test on Dbq Essay on Geographies Affects on the World or on the other hand any comparable point just for you Request Now The main way we can completely understand a civic establishments dependence on geology is by adding something extra to it. Through archives and maps we can begin to comprehend the effect topography had on a civic establishments efficient, profound and farming turn of events. Farming is the simplest thing to break when attempting to make sense of the improvement of a city in antiquated occasions. Maps give the best data on a districts topography, it gives information on potential spots where people could’ve utilized certain aptitudes for their potential benefit or to design new procedures to use against the destructions of a specific region. A useful guide of present day china instructs the overall population on the physical characteristics of an area (2). This archive is unbiased in light of the fact that it is a guide, it was made to just show individuals what China resembles, it’s realities. he explanation behind The Legend of Yu was to engage people in general by inventively clarifying how streams and oceans were made in China (4). This is an anecdotal story, in this manner it is one-sided. Spodek’s map in The World’s History is advising perusers on where some regarding the most bountiful harvests and creatures could be sit uated far and wide (8). Albeit nothing can be demonstrated totally, this guide is an awesome bit of work present-day students of history can utilize. The guide in record 9 is extremely useful and teaches people in general about the fruitful bow, the mesopotamian zone, situated in the center east (9). Impartial and demonstrated, this record, alongside the three different ones referenced are only a couple of instances of ways researchers might have the option to explore further into the horticulture of old occasions. Economy of urban areas in old occasions is somewhat harder to make sense of. Since everybody from those occasions is dead, the best way to try and get any data is by perusing spared archives from those particular occasions. In spite of the fact that the economies of urban communities have changed definitely through occasions, some current frameworks were utilized in those days. The extreme part is making sense of how those frameworks were made. Demonstrated, enlightening insights, for example, those in doc. ne, uncover to the open a portion of the manners in which individuals in those days endure when it came to social event food and making sense of approaches to make ordinary living somewhat less difficult (1). Individuals in those days needed to make some sort of ins truments so as to eat and endure ordinary. In the Epic of Gilgamesh the writer endeavors to engage his perusers by recounting to an anecdote about a pioneer what forces' identity is individuals to fabricate a divider so as to shield them from assaults (3). No one needed their city to be taken leveled out by another person, even in present day we do all that we can to ensure where we live. eography can truly impact the achievement of monitoring your city and safe from others. Building new structures, for example, sanctuaries and houses was extraordinarily influenced by topography. The image of Mohenjo daro shows the structures worked there and instructs the general population on what normal structures resembled (6). Mountains, waterways, land, all these can influence the achievement of an economy. No one can tell what could occur and albeit antiquated individuals didn’t have all the innovation we do to foresee fiascos, for example, seismic tremors and tidal waves, their capaci ty to oversee without it is exceptionally moving. One terrible thing and an entire city could be decimated. Making sense of the land sway on otherworldliness is by a wide margin the most troublesome thing to make sense of. Old individuals could just go to Gods to secure their territory. The creator of â€Å"Hymn of the Nile† is expressing gratitude toward the Nile stream for doing all the awesome things it has done, in spite of the fact that this report is one-sided it is still thankful (5). Individuals accepted and still accept that imploring and saying thanks to divine beings will bring about beneficial things transpiring. Petitioning God for downpour, or great yields, or numerous creatures was not something new. In a censuring tone, supporters of Jesus blamed the general population for exploiting God’s liberality of blessings that don’t even have a place with them (7). On account of the reality they can’t demonstrate individuals are exploiting and they’re simply basing these allegations off of their convictions, this archive is one-sided. I’m not certain in the event that we will ever have the option to have a total comprehension of the influences topography can have on the advancement of a human advancements prudent, agribusiness and profound lives, it won’t prevent students of history from exploring. There is such a great amount out there to find out about and the more profound you burrow, the more you find. The most effective method to refer to Dbq Essay on Geographies Affects on the World, Essays

Quatitative Research Article Critique Free Essays

In this article, Roy and Therin present the aftereffects of an exact examination exploring the connection between an enterprise’s information securing exercises and its ecological responsibility. The article recognizes past research identified with information procurement and natural responsibility and educates the peruser that albeit much as been expounded regarding this matter organizations stay confounded about how to receive these ecological contemplations. This investigation demonstrates to be critical, down to earth and the outcomes could be used in certifiable business applications. We will compose a custom exposition test on Quatitative Research Article Critique or then again any comparable point just for you Request Now The writing survey was extensive, cutting-edge and efficient. The creators had the option to recognize and relate past research to the ebb and flow issue. The audit recognizes a wide range of thoughts from an assortment of sources all of which identify with the difficult articulation. Exercises explicit to ecological issues should offer SMEs important information to help their endeavors towards a more prominent natural responsibility (Revel and Rutherfoord, 2003; Simpson et al. 2004) shows how an ecological relationship can support a venture. Additionally read this Critique of Stuff Is Not Salvation The investigation recognizes four inquiries of center to decide whether little and medium ventures (SMEs) can be assessed on how their insight organize identifies with condition responsibility. A speculation is built up, expecting that organizations that are increasingly associated with standard examining exercises will show a more significant level of ecological responsibility The technique is plainly sketched out in the examination; the ideal populace was SMEs from six distinctive assembling areas recognized utilizing the Quebec Industrial Research Center database. Since these organizations face direct association with condition issues they ought to be inspired to react with un-one-sided and honest reactions. The information was assembled utilizing telephone interviews with senior overseers completed by a specific review firm. The inquiries given in the review were estimated by the responders view of the information the board forms and the appropriate responses were assessed utilizing Likert-type scales. The exploration incorporates results and uses the data to order the undertakings as low or high natural duty. Since the investigation could bring about a positive or negative impact to a company’s business to can be addressed whether the reactions can be totally substantial. The creators gave unequivocally classified realistic and story proof used to help the difficult explanation. Tables containing the different undertaking classes and their ecological responsibility levels were given and are effortlessly comprehended. The example comprised of 136 organizations and t tests were performed on autonomous examples and the essentialness levels were distinguished. The entirety of the procured outcomes are firmly identified with the investigation questions and the data is deciphered precisely. This examination affirms the author’s theory and gave abundance data identified with the subject. The creators recognized the need to preform further research so as to more readily comprehend the relationship. There is no proof that the outer legitimacy of this investigation ought to be addressed, obviously the examination can be applied to a different example gathering and produce comparative outcomes. The most effective method to refer to Quatitative Research Article Critique, Essays

Determination †A Learned Trait :: Personal Narrative Experience Essays

Assurance †A Learned Trait Oddly enough, the Bolivian military tends to cause individuals to grow up. I was just about 18 when I was enrolled, however it appears I wasn’t significantly more develop than a multi year old adolescent; not that I was a lot more seasoned. I truly felt that the world was just a game where everybody would attempt to make life simple for me; I thought everything sort of spun around me. I was accomplished and considerate, however things like stating â€Å"sir† basically weren’t a piece of my way of life. The capacity to serve others in vain still hadn’t been conceived inside me. Unimaginably that changed, starting from the absolute first day of preparing in the Bolivian Army. Presumably something that helped me grow up quick was the abrupt takeoff from my folks and companions. The entirety of the unexpected I was distant from everyone else in a universe of forlornness, where my lone solace was the recruit instructor hollering his lungs out at me. It was never a smart thought to tell anybody you were pining to go home, on the grounds that the military authoritarian would arrange a â€Å"happy hug† where each and every enlist would go press you as hard as could reasonably be expected. The principal couple of cheerful embraces weren’t such awful, yet after 80 of them, a people ribs feel like they’ve been run over by a truck multiple times! Without a doubt, learning assurance, coordination, and reliability with all the activities are one of the most testing occasions in the military. Those five o’clock morning runs †whatever may happen †caused us to understand that it is conceivable to keep accomplishing something regardless of what else was going on around us; that’s an important exercise to learn throughout everyday life. We as a whole adapted rather rapidly not to yawn promptly in the first part of the day, supposing that we did the sergeant would arrange us to do the â€Å"alarm clock wake up†, where the person in front would pivot and slaps the individual behind him. At that point that person would pivot and slap the person behind him. I despite everything feel sort of sorry for the last person in line; he never got the opportunity to smack anybody! To be sure, it is a serious successful approach to awaken the soldiers. Tragically, we likewise figured out how to not have

Internet Marketing Essay Topics For Women

<h1>Internet Marketing Essay Topics For Women</h1><p>Internet promoting exposition themes are imperative for the individuals who need to enter the business and who need to concentrate how the bigger associations work. There are a ton of approaches to find out about these themes and every strategy has its own points of interest and burdens. Web promoting paper themes additionally have a slight weakness since they are difficult to remember.</p><p></p><p>Internet advertising exposition subjects ordinarily start with the 'who' part and this implies finding out about the individual who needs to begin a business. The individual is generally a lady who needs to begin a private company. This is normally the individual who is identified with beginning a business all alone or as a second job.</p><p></p><p>She as a rule has a type of a thought and she has for the longest time been itching to start a private company. She might not have any specialized skill however she needs to make something to keep her occupied. A decent Internet promoting article point will enable the lady to choose which part of the Internet advertising business will speak to her the most.</p><p></p><p>In request to pick the correct part, she ought to consider what kind of training foundation she has. She might have the option to acquire more cash on the off chance that she takes up data innovation. For those ladies who have earned their degrees in showcasing, they can settle on promoting by and large or item promoting or in any event, publicizing. They can even take a stab at counseling or advanced marketing.</p><p></p><p>Another point is finding out about the business power. Those that need to get into the business will require an individual to work with. This individual will be the one to work with all the difficult work and the benefits that the private venture needs to survive.</p&g t;<p></p><p>Once she has settled on the business power, she ought to realize what the business power resembles. He will have a uniform sort of uniform with the goal that he can undoubtedly coordinate every other person in the workplace. He will likewise have different various hues with the goal that everybody can without much of a stretch distinguish him. He will likewise have some various identifications so individuals know who he is without conversing with him.</p><p></p><p>When the business power is prepared to start his vocation, the lady should find out about the bookkeeping branch of the private company. The bookkeeping division will enable the deals to power to monitor their costs and the benefit. He will likewise work with the business power on setting up the business and the bookkeeping.</p><p></p><p>The last part will incorporate the showcasing part of the private company. This part includes various deals st rategies and various techniques for publicizing. The Internet promoting exposition points will enable the private company to succeed and they will assist the independent company with earning a great deal of money.</p>

An Overview of Toflex Essay Software

<h1>An Overview of Toflex Essay Software</h1><p>Toflex Essay Sample is intended to address a wide range of article composing assignments. This is a decent device for understudies who are wanting to take up significant level tests and short paper composing assignments. The paper design that is available in this exposition composing instrument is extremely simple to utilize. It can draw out a decent progression of thoughts through the author's comprehension of the rules that administer the organization of the essay.</p><p></p><p>The article composing apparatuses accessible online have the most recent and most refined adaptation of the equivalent. You can discover different kinds of paper tests at a few online exposition altering administrations, which incorporate word wizards, English to Spanish converters, test article formats, and incredible article editors. You can discover them all in a similar site where you can likewise take your pick fro m various kinds of altering administrations that are offered.</p><p></p><p>When you are searching for these sorts of administrations, you have to ensure that the site is partnered with the main foundation of the equivalent, the Toflex Essay Software. This stage is the one that permits you to alter your paper in the way you like. This is the reason you should choose a proper site that offers the most mainstream programming just as the best assist you with canning get from it.</p><p></p><p>In expansion to this, you ought to consistently select Toflex Essay Sample site which accompanies various kinds of exposition tests. This site is typically utilized by the two understudies and educators who need to get familiar with the equivalent. A portion of these articles are for a wide range of tests like confirmation tests, graduation tests, credit-by-test, GCE expositions, and so forth. Truth be told, you will discover many free online expositio n models offered by this website.</p><p></p><p>To be increasingly explicit, the Essay Sample programming that you will browse the Toflex Essay Software is the one that empowers you to utilize online manager. This proofreader can do all the means required to change over your unique paper into an appropriate organization of exposition. You don't need to invest your energy and exertion on the various phases of exposition writing to ensure that your paper is faultless. This online proofreader can accomplish this work for you without giving you any difficulty.</p><p></p><p>The beneficial thing about utilizing the Toflex Essay Software is that you will have the option to alter your article on any web associated PC. You should simply introduce the free programming and you will end up in the market of paper altering administrations. You will at that point be given different alternatives to alter your exposition. Also, you don't need to stress that the online proofreader you will be working with has been compromised.</p><p></p><p>You are guaranteed that your paper will be 100% exact. You simply need to ensure that the online editorial manager you will be working with is the most solid one accessible. It is additionally significant that you pick the article tests that are anything but difficult to peruse. The best thing about these article tests is that they are structured so that even understudies who are less learned with the creative cycle can alter their essays.</p><p></p><p>This is the reason the Toflex Essay Software is enthusiastically suggested by numerous individuals as the one that permits you to utilize paper composing programming for speedy and simple altering. There are different journalists out there who guarantee that the editorial manager that accompanies the proofreader is profoundly solid. The fact of the matter is that Toflex Essay Software is viewed as per haps the most ideal alternative for your exposition composing needs.</p>

Writing an Essay in First Person View

<h1>Writing an Essay in First Person View</h1><p>When you are heading out to compose a paper, it very well may be somewhat overwhelming to attempt to compose an exposition in first individual point of view. It tends to be hard for those with constrained composing experience, or possibly just somebody who is new to the possibility of first-individual article. Be that as it may, in the event that you have some fundamental composing aptitudes, it shouldn't be excessively troublesome. Truth be told, in the event that you can invest some energy into it, you will be very successful.</p><p></p><p>When you begin composing, you should know your topic. At that point you will need to choose the subject of your paper. For instance, you may decide to expound on your present intrigue or something that you have been keen on for some time. On the off chance that you have not yet figured out how to compose, you may think that its accommodating to do a little research. There are numerous assets accessible to help you learn.</p><p></p><p>The most ideal approach to begin composing is to make your very own subject. Numerous individuals are instructed to begin with a first individual story, however this can prompt one of two issues. You could become mixed up in your own story, or you could overlook the purpose of the story, which would be lost. Commonly, you can discover the point through rewording. By utilizing a similar language and tone you utilized when composing the principal individual story, you can reword it into second individual. This can assist you with concentrating on the principle thought and data that are important to your essay.</p><p></p><p>Now that you have picked your subject, you are prepared to make the following stride recorded as a hard copy an article. You will need to ensure that you obviously characterize your fundamental thought. A few people may believe this is signi ficant, however it isn't. In case you're uncertain with regards to what the motivation behind your exposition is, you should look to your principle thought before you think about the remainder of your essay.</p><p></p><p>Once you have decided the fundamental thought, the time has come to ensure that you convey it to the peruser. This implies you have to utilize direct correspondence all through your article. This isn't really something worth being thankful for, yet that is exactly how things work as a rule. Remember that you would prefer not to begin with a paper that is not exactly an elegantly composed, if not flawless essay.</p><p></p><p>Even however it very well may be difficult to remain centered in the start of your exposition, before the end, you will have the option to center simpler. So ensure that you generally keep things flawless and clean all through your paper. Try not to forget about your topic all through the whole essa y.</p><p></p><p>Writing an exposition in first individual view takes a touch of work. In any case, when you have consummated it, you will find that it is simpler to make a far better article, in the event that you permit yourself the time. Composing a paper in first individual view can be simple on the off chance that you realize where to begin and where to finish.</p>

IBI Extended Essay Psychology Topics

<h1>IBI Extended Essay Psychology Topics</h1><p>You may discover an IBI Extended Essay Psychology themes accommodating in filling the holes in your insight about a subject. Contemplating brain research, in the event that you don't have any earlier information regarding the matter, can be a troublesome undertaking since it is perplexing. With the assistance of an Extended Essay Psychology subject, you will have a simpler time understanding the subject and conquering the questions in your brain. Along these lines, you will likewise have a simpler time in talking about subjects that are increasingly mind boggling and difficult.</p><p></p><p>IBI Extended Essay Psychology Topics were created to address the holes in your insight that can't be replied in study hall meetings. Truth be told, these subjects are utilized by numerous colleges as a methods for permitting their understudies to turn out to be better clinicians. It is additionally utilized b y many hopeful therapists to turn into an analyst or become a rehearsing clinician. The themes are normally taken from various kinds of brain research, for example, neuroscience, clinical brain science, social brain science, training brain research, character brain research, and instruction brain research. Every one of these themes has its own one of a kind style and uses.</p><p></p><p>When you utilize the IBI Extended Essay Psychology Topics, you will have the option to all the more likely comprehend the hypothesis and fundamental ideas of brain science. As you acquire information about the hypotheses and ideas, you will have the option to all the more likely detail speculations for yourself that you may need to have any kind of effect in your calling. This is the reason numerous analysts investigate these subjects to get familiar with their discipline.</p><p></p><p>The IBI Extended Essay Psychology Topics are made to address the hole s in information you have concerning brain research. One reason why individuals pick these subjects is on the grounds that they believe that they can learn things that can profit them in their calling or in school. These are the best wellsprings of data since you will find out about hypotheses and ideas from various specialists who are specialists in the field. They may show you how to discover the appropriate responses that you need or give you implies that might be valuable in certain situations.</p><p></p><p>The IBI Extended Essay Psychology Topics is exceptionally intuitive in light of the fact that they permit you to pose inquiries. On the off chance that you can't discover the solution to your inquiry anyplace else, at that point you can pose the inquiry in the gathering. This is a decent method to find an immediate solution to your inquiry that you can profit by later on.</p><p></p><p>Another bit of leeway of IBI Extended Essay Psychology Topics is that there are specialists who are equipped for addressing your inquiries inside the gathering. In the event that you don't have the foggiest idea how to scan for these points, you can look through on the web or through the web crawlers in Google or other mainstream web search tools. It is likewise simple to discover on the off chance that you simply look into these points online.</p><p></p><p>Many gatherings are related with IBI Extended Essay Psychology Topics so you will have the option to discover it without any problem. It might require some investment, yet with the utilization of the discussions, you will have the option to discover all that you have to think about the theme that you are intrigued in.</p><p></p><p>You will likewise have the option to consider on the web and get paid for it. You don't need to stress over managing your classes or investing energy in a homeroom to get ready for tests. You will j ust need to plunk down and begin reading.</p>

The Truth About Cancer Research Papers

<h1> The Truth About Cancer Research Papers </h1> <h2> Gossip, Deception and Cancer Research Papers </h2> <p>Prompt identification of disease is urgent, as it is typically all the more testing to treat in later stages. The most widely recognized sort of radiation used to manage malignant growth utilizes light emissions beams. Indigestion has transformed into a major aggravation to a considerable extent of the masses. </p> <p>Therefore, the theory is acknowledged. You can discover progressively about malignancy before picking a theme. A standard hypothesis among scientists, is the impressive increment in heftiness is causing an ascent in Adenocarcinoma of the Esophagus. These examinations help to discover progressively about how malignancy starts or spreads. </p> <h2> Ok, I Think I Understand Cancer Research Papers, Now Tell Me About Cancer Research Papers!</h2> <p>If you need to discover increasingly about clinical preliminaries which might be reasonable for you, start with asking your social insurance supplier if your facility or medical clinic conducts clinical preliminaries, or see Clinical Trials to discover more. A patient may get one specific medication at once or mixes of one of a kind medications at precisely the same time. Not all emergency clinics are made equivalent. Continuously talk with your clinical consideration group what you find in a theoretical or stud y. </p> <p>Combining various medications is an amazing methodology that doesn't just makes treatment increasingly compelling, yet additionally diminishes the opportunity of opposition showing up, Dr. Elemento clarified. The specialist may likewise flexibly the patient with the absolute best treatment control for the infection. Dynamic connection with your doctor is basic for endorsing the absolute best appropriate treatment program. Now and again another treatment gives off an impression of being truly encouraging once you perused the reports. </p> <h2> The Meaning of Cancer Research Papers</h2> <p>Cryotherapy for malignant growth contrasts and is as often as possible alluded to as cryoablation'. Since, as per you, you're responsible for the illness because of your lifestyle and propensities. Many eye complexities of diabetes can be forestalled if an individual who has the condition keeps up a refreshing lifestyle and is consistent in their diabetic treatment. T his kind of malignant growth represents around 7% of youth diseases. </p> <h2> The Battle Over Cancer Research Papers and How to Win It</h2> <p>Within this stage, the bosom malignant growth should be obtrusive. Harmone treatment works just within the sight of estrogen receptors. Different examinations are assessing if certain cardiovascular medications, called beta-blockers, can stop the heart harm some of the time because of the average bosom malignant growth chemotherapy meds, doxorubicin and epirubicin. For instance, associate investigations have considered the opportunity of utilizing postmenopausal hormone substitution treatment and a raised possibility of bosom malignant growth. </p> <p>Artificial Intelligence has a significant part to play in lifting crafted by sedate development scientists. Each investigation is a little piece of the exploration puzzle. No examination configuration is perfect. </p> <p>The past creator may likewise be the relating creator, the person who's the key contact for diary editors. The absolute first creator is a desired situation because of the more noteworthy perceivability. </p> <p>Interestingly, about every single one of the meetings introducing solid outcomes on utilizing AI were from the territory of radiology. These types of studies think about two gatherings of people. The methods coming up to interpret relations and not just examples have huge ability to fathom not just Neural Reasoning but rather also different other difficult issues including Few Shot learning challenges. On the off chance that scientists wish to consider blends of three or four medications, the measure of forthcoming groupings develops quickly, and the ability to tentatively test every one of them at the seat gets progressively intense. </p> <p>Keep rules as a top priority while you survey thoughts. It's uncommon a guide is created by just two o r three individuals any longer. Your theme can assist you with making an extraordinary amount of substance to fulfill inquire about paper rules. It's conceivable to utilize test papers on this issue of malignancy for extra thoughts. </p> <p>Over the most recent ten years, huge scope look into ventures have begun to study and index the genomic changes associated with heaps of sorts of malignant growth. Malignant growth is a confounded theme as it can comprise of various components from costs, human services, treatment options, passionate impacts, etc. A few diseases are progressively common in some particular segments of earth. Compose a paper about the piece of contamination on bosom disease costs. </p> <p>Lives are changed for eternity. Analysts are continually looking for better approaches to deal with colorectal malignant growth. They are searching for approaches to help with these difficulties. They may search for way of life or hereditary contrasts betwe en the two gatherings. </p> <p>Abortion likewise parts of the bargains of the new human individual creating inside your physical make-up. Research is continually occurring in the district of colorectal malignant growth. </p>

Get an Essay on Sale With Easy Ways to Get An Essay on Sale!

<h1>Get an Essay on Sale With Easy Ways to Get An Essay on Sale!</h1><p>Are you sick of completing your paper or you are looking for an approach to get an exposition marked down? All things considered, I have incredible news for you, you don't need to make due with an article that is completely unpublishable. What you have to do is to begin assembling all the data that is on the web. Numerous locales have both scholarly and business articles that can be offered to potential students.</p><p></p><p>There are many best destinations that you can get all the information that you have to make your scholastic exposition a triumph. You simply must know about the way that you can't simply depend on a paper just to be accepted.</p><p></p><p>A smart thought is to check whether you will go for an online degree or in the event that you might want to make that additional stride and go for a four year college education. That is the r eason picking the correct school and accreditation is important.</p><p></p><p>You need to likewise take some time and do look into on the accreditation of the school before you send them your work. You can take a gander at the association's site to check whether they are to be sure affirmed and the amount they charge for these so you can assess on the off chance that you can get the paper on sale.</p><p></p><p>Once you get a few information that you need to add to your article, you will at that point need to have the recorded before you send it to them. It is a smart thought to record your central matters that you need to be considered in your paper. You would then be able to impart the paper to the individuals that you need to jump marked down. The individuals you will send your work to would then be able to go over it and give you their feedback.</p><p></p><p>If you would prefer not to record as far as possibl e then you can do look into by going to different articles that are accessible on the web. That way you can discover an exposition that you like and that you might want to use as a beginning stage. Thusly you can make your own work without the weight of working it hard and fast first.</p><p></p><p>If you don't have a clue how to begin your exposition then you should realize that you can simply send it in without the information on the theme. When you begin utilizing an example article, you will start to appreciate going at a bargain and get this exposition on special. You will before long be utilizing a book you have composed that gets you a lot of attention!</p>

How to Write a College Essay on International Relations

How to Write a College Essay on International RelationsAre you sure that you want to include an essay on International Relations in your college curriculum? Do you have a problem with writing it or finding the right essay? You don't need to worry about it, since this essay is not that difficult to write. If you write it correctly, you will not only get an A grade, but you will also get great marks, especially from your teacher.What does the best way to write a college essay on International Relations be? If you think about it, you should not even have to think too hard. Just follow these tips and you will get a good grade.First, it is very important thing to make sure that you are writing a well-researched essay. This will really help you when you submit it to college, so make sure that you put a lot of effort into it.Second, when writing, do not forget to include facts. Since everyone needs to know a fact about something, this may not be very helpful in your college essay. Therefore , make sure that you keep everything precise.Third, you should also make sure that you write as if you are doing it for a competition, because many people do all of this in their various college essays. This will definitely give you a high grade and you will certainly win the competition. So do not be afraid to include some poetry in your essay, just to make your reader to take more interest in it.Fourth, keep it interesting by writing in a way that will grab the attention of your reader. For example, if you write about how humans often over-use words, do not be afraid to use some science fiction language, because this is not a topic that you should ignore. It will really give your reader a sense of hope and will motivate them to read further.Fifth, make sure that you do not plagiarize other essays on the Internet. There are people who try to write similar essays as their own, so be sure that you don't use any source that is related to your college essay.

Description of Different Payment Methods Medical Coding - 275 Words

Description of Different Payment Methods: Medical Coding (Essay Sample) Content: Reimbursement Methodologies: Medical CodingNameInstitutionReimbursement Methodologies: Medical CodingMedical coding systems are important in the reimbursement process as they contain the diagnosis, procedure and prescription for a disease. Also, medical coding provides the information required by insurance companies for reimbursement. Finally, coding enables the healthcare facility to estimate the reliability and effectiveness of treatment (Aalseth, 2014).Payment systemsThe healthcare payment systems used by third party payers are a fee for service, cost-based and prospective payments (Aalseth, 2014). The cost-based system defines how the service provider is reimbursed based on the cost incurred. Majorly, cost-based pay starts with an interim agreement on the amount (Aalseth, 2014). Later on, a final report on the cost is included. On the other hand, prospective payments are characterized by fixed payments made in advance. Prospective payments comprise of DRGs (Hospi tal Inpatient Payment), APCs (Hospitals Outpatient Payments) and RBRVS (Physician Professional Payment). Finally, the fee for service are payments for the services provided by the healthcare (Rapsilber DeNisco, 2014).Medical Necessity and its Impact on PaymentMedical necessity is the healthcare service offered by a physician to a patient. The service should be accepted in the medical practice to evaluate, diagnose or treat a disease. In most cases, health insurance companies refuse to pay for services that do not have any scientific proof (Aalseth, 2014). The outcome has influenced the type of payment system that should be applied to each of the medical necessities that arise. Effects of Payment Methods on CodingThe different payment methods motivate hospitals to provide excellent services to the patients an...

Tips on How to Write a Wedding Essay Sample

<h1>Tips on How to Write a Wedding Essay Sample</h1><p>It is a smart thought to give your wedding exposition test to an expert. Composing a paper for your wedding doesn't need to be as troublesome as you may might suspect. In spite of the fact that it will require some investment to compose than a standard exposition, there are ways you can work around that. Composing an article for your wedding will cause you to turn out to be progressively sure about yourself and your wedding speech.</p><p></p><p>You will need to begin with a short exposition or short report. Utilize the example that you got from your educator to discover what you ought to compose. On the off chance that you don't have an example accessible to you, you can utilize a comparable point yet experience the whole paper. Attempt to remain consistent with the tone of the sample.</p><p></p><p>You need to pick a wedding exposition point that you feel generally good with. This might be your own understanding, however it might likewise be something that is one of a kind to your wedding. Your character can radiate through on the off chance that you pick something that depends on your own encounters. Keep in mind, this is to be given to your closest companion, so you need to pick something that will be memorable.</p><p></p><p>You will need to begin your wedding paper by examining the 'why.' Explain what attracted you to your closest companion the primary spot. It could be something as basic as both of you both like voyaging and love nature.</p><p></p><p>Next, you have to discuss your own encounters. You can incorporate how your involvement in your closest companion has influenced your life and how your closest companion has affected your life.</p><p></p><p>Your wedding article can assist you with getting ready for the wedding that you will have. A great many people don't plan for their discourse until months before the wedding. If you somehow happened to give your exposition test to your closest companion, you might be astounded at the things that she or he says that you might want to consolidate into your wedding speech.</p><p></p><p>Finally, you will need to clarify your passionate needs. This implies you have to clarify why you will require your closest companion's help and how you feel about the relationship. Your enthusiastic needs should be viewed as when you are making a speech.</p><p></p><p>Give your paper test to somebody who gets composing. Regardless of whether your educator just gave you a short one, they can give you an approach to improve and clean your own paper. By giving your paper test to somebody who comprehends what they are doing, you are telling them that you realize the best way to compose a quality wedding speech.</p>

Parc Lal Essay Samples - Tips for Writing Tips

<h1>Parc Lal Essay Samples - Tips for Writing Tips</h1><p>The Parc Lal paper tests are utilized to assess the information and aptitudes of an understudy for a short exposition. They contain various linguistic developments and structures. One can without much of a stretch unravel it with simply some straightforward strategies.</p><p></p><p>This is the subsequent year, understudies are planning for an article. Yet, this year, the paper tests contain a few hints and procedures, that can make your life simpler. Understudies ought not have any issue recorded as a hard copy these. Truth be told, they are anything but difficult to compose as well as the content is extremely clear and justifiable. On the off chance that you know these tips, you will without a doubt have the option to compose that ideal paper in any subject.</p><p></p><p>The Parc Lal articles have test papers with exposition points, in which understudies can lo ok over. It might be about vocation development, managing individual issues or other individual issues. There are numerous themes that can be utilized. A few understudies have most loved subjects.</p><p></p><p>With the above advances, you will have the option to compose the example. To start with, pick your topic and afterward you can find out about it. At that point, you can locate the least demanding approach to examine it. You can utilize various thoughts and structures. When you have comprehended the ideas, you can begin composing the sentences and sections in the paragraph.</p><p></p><p>For model, if the point is about profession development, you can pick one subject in which you are increasingly intrigued. For instance, if your subject is sports, you can choose one game in which you are increasingly intrigued. You would then be able to choose a few thoughts from sports. For instance, sports can be angling, horse hustling, etc.< ;/p><p></p><p>After picking the essential point, you can begin composing the sentence. By utilizing certain expressions or musings, you can make the article all the more intriguing. For instance, in the event that you decide to compose an exposition about war, you can attempt to compose a paper on the Battle of Hastings. So you can attempt to consider fights throughout your life, which can make your article all the more fascinating. By making it intriguing, you can make the paper better.</p><p></p><p>To take care of these issues, you can utilize distinctive linguistic developments, structures and thoughts. You can utilize them to locate the best point for you.</p>

Research Essay Topics For Research

Research Essay Topics For ResearchWhen you are attempting to discover points for inquire about, you need to utilize subjects that will permit you to test yourself in a controlled situation. This is an extraordinary method to assess your composing aptitudes just as the amount you are set up to take on.You can discover a few points for explore that will challenge you yet permit you to feature your qualities and shortcomings. They may even be helpful in light of the fact that you can do them while you're perusing. You can challenge yourself through a portion of the realities introduced. For whatever length of time that they are critical to you, you'll have the option to get some training on a portion of the points that are suitable for inquire about essays.One of the best research subjects for look into that you can utilize is the exploration topic that you've decided for your theme. It very well may be your field of aptitude, a chronicled period, or simply something that you have looke d into. Whatever it will be, it's essential to ensure that you know where it falls inside your own interests.There are a great deal of genuine instances of these subjects from distributed works. You can discover them in books, magazines, and research articles. You'll likewise have the option to discover them on the Internet, particularly in case you're taking a gander at assets, for example, those found at the National Center for Science Education.It can be useful to compose your exploration subjects from your own perspective. This can assist you with finding a few associations between what you've investigated and what you truly accept. The more that you can comprehend about yourself, the better you will have the option to compose your articles. This is particularly evident in case you're managing something that is genuinely personal.Some explore points for look into are likewise about living individuals. A few people are incredibly cautious about expounding on others in their exami nation expositions, yet you do should be so cautious. In the event that you have your own examination about living individuals, you'll most likely find that you can carry this to your exposition without running into any problems.You can discover some exploration subjects for inquire about that are exceptionally compelling to you. You can discover them in books, magazines, or on the Internet. On the off chance that you have a specific individual, spot, or thing that you are keen on, you should realize where to glance so as to discover more data about it.

General Essay Topics For Govt Exams

<h1>General Essay Topics For Govt Exams</h1><p>When it comes to composing your article for a Government tests, you have to consider general exposition themes for the tests. There are various things you have to take a gander at when you are accountable for composing the exposition for government tests, so here is some exhortation to ensure that you prevail with your article point for Government exams.</p><p></p><p>When it comes to composing a General paper themes for a Government test, you ought to consistently remember your subject. It would be to your greatest advantage on the off chance that you have the arrangement of what you need to state in your article before composing your paper. Numerous understudies come to compose their expositions without having a positive point as a main priority. This makes them go around aimlessly and not get the subjects that they want.</p><p></p><p>The first thing you ought to do when you are settling on the article points for your exposition is to plunk down and design out all the focuses that you need to make in your paper. Ensure that you set up this arrangement before you begin composing your essay.</p><p></p><p>Make sure that you plan out all the paper points early so you don't need to think of them during the creative cycle. Additionally ensure that you utilize a schedule for your schedule with the goal that you realize to what extent you have to compose every day. You can begin with the days where you will take the test and afterward move to the days where you will take the general exams.</p><p></p><p>When it comes to composing General exposition subjects for a Government test, you should concentrate more on the association of your article. In the event that you have a schedule that you will utilize, at that point you can pick what days you will compose on and which days you will skip. For instance, in the ev ent that you are avoiding a day, you can begin writing toward the beginning of the day or around evening time. In any case, you can at present compose the composing process.</p><p></p><p>Tgeneral paper subjects for govt tests Another extraordinary tip for composing General exposition themes for a Government test is to pick the point that you feel generally energetic about. Try not to let your energy assume control over when you are composing the exposition. Recall this is an assessment so you will be solicited to talk about a wide assortment from points. Along these lines, regardless of whether you feel that your energy is for a specific theme, you ought not drive it since this won't help you in the long run.</p><p></p><p>Remember that composing a General exposition subjects for a Government test isn't as hard as you would might suspect. By following these tips, you will know precisely what to remember for your exposition. Likewise, re member that you ought to sort out your thoughts by time so you don't begin going in circles.</p>

The Upside to When Beginning the Evaluation of a Source for an Informative Essay an Essay

<h1> The Upside to When Beginning the Evaluation of a Source for an Informative Essay an Essay</h1> <p>It relates to the expansion in the temperature of the world's surface because of the discharge of harming ozone harming substances. Try not to go just with the stream, as if you're perusing an organization! The target of discourses is to empower a speaker in conveying a far reaching record to the audience members and permit them to know and to comprehend the realities you're giving. Every assessment will include the consideration of some sort of sentiment, to have the option to be practiced effectively, the assessment ought not peruse just as it's stubborn. </p> <h2>What You Should Do About when Beginning the Evaluation of a Source for an Informative Essay an Essay Starting in the Next 8 Minutes </h2> <p>The system is precisely the same. The presentation for the most part begins with some kind of foundation subtleties. There's no specific st yle for the presentation, however foundation data has become the most incessant technique of approach. An ideal suspicion is compose for a general crowd so you don't miss any significant data considering your crowd might be well aware of it as of now. </p> <p>The assets utilized are fit to be crossed checked to approve the information. It's additionally significant to realize how to convey information in a perfect and compact technique. In this way, don't be hesitant to counsel her or him on the off chance that you stuck when choosing a point. Numerous totally free instances of different scholastic papers on different points are accessible on the web, and we propose to get a glance at one of the many top examples. </p> <h2> Ruthless When Beginning the Evaluation of a Source for an Informative Essay an Essay Strategies Exploited </h2> <p>Informative composing lets you share confounded contemplations and themes at all entangled way conceivable. Comp osing an enlightening discourse is very simple. For the most part, this kind of paper will think about disputable perspectives about a specific subject. Thusly, a logical exposition is a touch of composing that offers a useful perception about the specific subject or thought. </p> <p>For occasion you watch a film and after that you are mentioned to assess it on the grounds of your piece. The framework of your draft should be founded on the theme, central matters, and the data you need to share concerning the point. As an approach to create an instructive paper, it is critical to consider the legitimate grouping while referencing the focuses. The plan of this area of the article is to protect the proposal articulation, or so the substance in these kinds of sections must be excellent. </p> <h2> Things You Should Know About when Beginning the Evaluation of a Source for an Informative Essay an Essay </h2> <p>The choice of assessment exposition point i s a noteworthy advance before composing. Composing is a specific blessing that it is conceivable to grow, yet should you truly feel like it isn't your thing, our team of expert authors can assist with completing an exposition without any preparation or do paper altering you've just done. An educational exposition is just about the hardest kind of task that ought to be cultivated with outright consideration and concern. Try not to be concerned, EssayPro is here so as to show our understudies all that they should find out about creating an instructive essay!</p> <p>You are in all likelihood thinking about a cunning route about how to escape from the situation where you undoubtedly have not ever needed. At the point when you settled regarding the matter, it's a great opportunity to plunk down and put in a couple of hours or increasingly dependent on the task's volume on the useful exposition plot. The decision assumes a vital job in the inclination it ties up the full exposition. The past issue to watch is the best approach to make an end for an interpretive paper. </p> <p>Besides the 3 techniques, there are loads of means by which you can sort out a useful paper that gives you a definition. For a powerful assessment article you must win a reasonable standards in your contemplations. A blueprint for this sort of scholastic exposition isn't phenomenal. Despite the fact that there are deliberate ways on forming your own one of a kind useful exposition, it very well may be trying to do. </p> <h2> New Step by Step Ro admap for when Beginning the Evaluation of a Source for an Informative Essay an Essay </h2> <p>The best useful papers aren't just instructive, they're likewise interesting and intriguing. The people who worked in the plants had a few issues they needed to adapt to. Give certain models from genuine to show that you have confronted the issue. The main thing you must do is think about a theme that you have to directly about. </p> <p>Evaluation papers offer some benefit decisions identified with a few subjects. Proof is all the information used to help the judgment. </p> <p>'Informative papers are accessible in numerous structures,' she clarified. Additionally, you should choose modern sources since they offer you the most recent subtleties on your subject. It is desirable over pick the chief sources. Your sources should be believable and definitive. </p>

Persuasive Essay Topic Ideas For Middle School

<h1>Persuasive Essay Topic Ideas For Middle School</h1><p>In when numerous instructors are utilizing the web and online networking just as junior college to assist understudies with picking up school credit, it is significant that center teachers are not gotten short by utilizing Internet asset and influential article point thoughts for center school. We as a whole ability significant that subject is when understudies make it to school. However, with no particular subject information, understudies may get themselves sick outfitted to manage any school course in English.</p><p></p><p>These days, numerous individuals will in general use composing programming, for example, Microsoft Word to compose online expositions. Accordingly, these PCs have become practically natural to numerous grown-ups who currently can compose an article in a matter of moments. Sadly, this accommodation can likewise imply that an article can be written in a manner that isn't effectively perused by a reader.</p><p></p><p>One of the most well-known issues with these papers is the spelling blunders that are ordinarily observed. Understudies may wind up composing in troublesome words, for example, 'notwithstanding' when they truly intended to type 'in this way.' This isn't satisfactory in a center school essay.</p><p></p><p>One approach to battle this issue is to have the understudy play out a PC look for the whole article point before starting the task. For instance, have the understudy type in 'noticeable spots' rather than 'spots of unmistakable quality.' Then, as they do their examination, utilize the PC search to stay up with the latest on every single new theme that spring up concerning the points they had as of now researched.</p><p></p><p>Other strategies for tending to this issue are to have the understudy invest more energy exploring the paper and expounding on the data that is as of now in the article. And afterward, when the article is finished, have the understudy re-compose it in a manner that incorporates the new thoughts that are presently remembered for the paper. Another alternative is change the paper yet to put another title at the highest point of the article that clarifies that the exposition was reworked. While this methodology may sound troublesome, some center teachers and managers concur that understudies ought to be allowed this chance to get this sort of understanding practice. The key is to ensure that it is introduced in a manner that is anything but difficult to peruse. For instance, if the understudy has utilized the web to inquire about what can be found in a specific zone, spot or timeframe, at that point as opposed to placing in data that the understudy can't promptly see, just disclose to the understudy how they reached their conclusions.</p><p></p><p>Here's a last thought that will work with any in fluential article theme thoughts for center school. Rather than giving a rundown of points to be canvassed in the article, attempt to think about a solitary thing that is straightforwardly applicable to the subject. For instance, on the off chance that the subject is 'political occasions' at that point give instances of political occasions, or pick a solitary individual or gathering of individuals that will give the greatest knowledge into the topic.</p><p></p><p>While these are only a couple of thoughts for powerful paper theme thoughts for center school, it isn't the main procedure that works. We simply needed to show the advantages of giving composing practice to understudies that they may not be getting in center school. There are different approaches to achieve this also, yet we are discussing center school here.</p>

The emerging markets - Free Essay Example

Sample details Pages: 30 Words: 9133 Downloads: 5 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Over the last few decades world stock markets are growing enormously and the stock markets particularly in developing countries represent a large share of this boom. Investors are venturing into the world s newest markets and some are seeing handsome returns but are developing countries themselves reaping any benefits from their stock markets? The evidence indicates that they are. Over the past 10 years, the total value of stocks listed in all of the world s stock markets rose from $4.7 trillion to $15.2 trillion, while the Share of total world capitalization represented by the emerging markets jumped from less than 4 percent to almost 13 percent. Trading in the emerging markets also surged: the value of shares traded climbed from less than 3 percent of the world total in 1985 to 17 percent in 1995. Don’t waste time! Our writers will create an original "The emerging markets" essay for you Create order The emerging markets have attracted the interest of international investors while raising a number of critical questions for policy makers in developing countries: Do stock markets affect overall economic development and, if so, how? What is the relationship, between stock markets and banks in fostering economic growth? And, how can developing countries benefit from stock market growth? Impact on development: Do stock markets affect overall economic development? Although some analysts view stock markets in developing countries as  casinos that have little positive impact on economic growth, recent evidence suggests that stock markets can give a big boost to economic development. Stock markets may affect economic activity through the creation of liquidity. Many profitable investments require a long-term commitment of capital, but investors are often reluctant to relinquish control of their savings for long periods. Liquid equity markets make investment less risky and more attractive because they allow savers to acquire asset equity and to sell it quickly and cheaply if they need access to their savings or want to alter their portfolios. At the same time, companies enjoy permanent access to capital raised through equity issues. By facilitating longer-term, more profitable investments, liquid markets improve the allocation of capital and enhance prospects for long-term economic growth. Further, by making investment less risky and more profitable, stock market liquidity can also lead to more investment. Put succinctly, investors will come if they can leave. There are alternative views about the effect of liquidity on long-term economic growth, however. Some analysts argue that very liquid markets encourage investor myopia. Because they make it easy for dissatisfied investors to sell quickly, liquid markets may weaken investors commitment and reduce investors incentives to exert corporate control by over- seeing managers and monitoring firm performance and potential. According to this view, enhanced stock market liquidity may actually hurt economic growth. The empirical evidence, however, strongly supports the belief that greater stock market liquidity boosts or at least precedes economic growth. To see how, consider three measures of market liquidity three indicators of how easy it is to buy and sell equities. One commonly used measure is the total value of shares traded on a country s stock exchanges as a share of GDP. This ratio does not directly measure the costs of buying and selling securities at posted prices. Yet, aver- aged over a long time, the value of equity transactions as a share of national output is likely to vary with the ease of trading. In other words, if it is very costly or risky to trade, there will not be much trading. This ratio is used to rank 38 countries by the liquidity of their stock markets in four different groups. The nine countries with the most illiquid markets are in the first group; the nine countries with the most liquid markets that is, with the largest value-traded-to-GDP ratios are in the fourth group; the second and third groups, each of which contains 10 countries, fall between the two extremes of liquidity. As Chart 1 show, countries that had relatively liquid stock markets in 1976 tended to grow much faster over the next 18 years than countries with illiquid markets. The second measure of liquidity is the value of traded shares as a percentage of totals market capitalization (the value of stocks listed on the exchange). This turnover ratio measures trading relative to the size of the stock market. Chart 2 indicates that greater turnover predicted faster growth. The more liquid their markets in 1976, the faster countries grew between 1976 and 1993. The third measure is the value-traded-ratio divided by stock price volatility. Markets that are liquid should be able to handle heavy trading without large price swings. As Chart 3 shows, countries whose stock markets were more liquid in 1976 countries with higher trading-to-volatility ratios grew faster over the next 18 years than countries with less liquid markets. As demonstrated in the series of papers on which this article is based (see back- ground note), the strong link between stock market liquidity and economic growth continues to hold when controlling for other Economic, social, political, and policy factors that may affect economic growth, and when using instrumental variable estimation procedures, various periods, and different country samples. The basic conclusion that emerges from this statistical work is that stock market development explains future economic growth. What is important is that other measures of stock market development do not tell the same story. For example, stock market size as measured by dividing market capitalization by GDP is not a good predictor of economic growth (Chart 4), while greater stock price volatility does not necessarily predict poor economic performance (Chart 5). Empirically, it is not the size or volatility of the stock market that matters for growth but the ease with which shares can be traded. Countries may be able to garner big growth dividends by enhancing the liquidity of their stock markets. For example, regression analyses suggest that if Mexico s value-traded-to- GDP ratio in 1976 had been the same as the average for all 38 countries in our sample (0.06 instead of Mexico s actual ratio of 0.01), the annual income of the average Mexican would be 8 percent higher today. This type of forecast does not explain how to enhance liquidity, but it does give an indication of the potentially large economic costs of policy, regulatory, and legal impediments to stock market development. Is there really a link between stock market liquidity and economic growth, or is stock market liquidity just highly correlated with some nonfinancial factor that is the true cause of economic growth? Multiple regression procedures suggest that stock market liquidity helps forecast economic growth even after accounting for a variety of nonfinancial factors that Influence economic growth. After controlling for inflation, fiscal policy, political stability, education, the efficiency of the legal system, exchange rate policy, and openness to international trade, stock market liquidity is still a reliable indicator of future long- term growth. Stock markets versus banks: Is there and independent link between stock market development and growth, or is stock market liquidity correlated with banking development and is the latter the financial factor that really spurs economic growth? Although countries with well-developed banks as measured by total bank loans to private enter- prises as a share of GDP tend to grow faster than countries with underdeveloped banks (Chart 6); the effects of banks on growth can be separated from those of stock markets. To evaluate the relationship between stock markets, banks, and growth, our 38 sample countries were divided into four groups. Group 1 had greater-than-median stock market liquidity (as measured by the value- traded-to-GDP ratio) in 1976 and greater- greater-than-median banking development. Group 2 had liquid stock markets in 1976 but less-than-median banking development. Group 3 had less-than-median stock market liquidity in 1976 but well-developed banks. Group 4 had illiquid stock markets in 1976 and less-than-median banking development. Countries with both liquid stock markets and well-developed banks grew much faster than countries with both illiquid markets and underdeveloped banks. Furthermore, greater stock market liquidity is associated with faster future growth no matter what the level of banking development. Similarly, greater Banking development implies faster growth no matter what the level of stock market liquidity. Thus, it is not a question of stock market development versus banking develop- mint each, on its own, is a strong predictor of future economic growth. Why might stock markets and banks both, independently of each other, boost economic growth? Although the empirical evidence is consistent with the view that stock markets and banks promote economic growth independently of each other, the reasons are not fully understood. One argument is that stock markets and banks provide different types of financial services. Stock markets offer opportunities primarily for trading risk and boosting liquidity; in contrast, banks focus on establishing long-term relationships with firms because they seek to acquire information about projects and managers and enhance corporate control. (There is, of course, some overlap. Like stock markets, banks help savers diversify risk and provide liquid deposits. Like banks, stock markets may stimulate the acquisition of information about firms, because investors want to make a profit by identifying under- valued stocks to invest in; stock markets may also help improve corporate governance by simplifying takeovers, providing an incentive to improve managerial competency.) Is greater stock market liquidity associated with more or better investment? Both Chart 7 shows that countries that had more liquid stock markets in 1976 enjoyed both faster rates of capital accumulation and greater productivity gains over the next 18 years However, although liquid equity markets imply more investment, new equity sales is not the only source of finance for this increased investment? Most corporate capital creation is financed by retained earnings and bank loans. Although this phenomenon is not wholly understood, greater stock market liquidity in developing countries is linked to a rise in the amount of capital raised through bonds and bank loans, so that corporate debt-equity ratios rise with market liquidity. Stock markets tend to complement not replace bank lending and bond issues. Economist believes differently regarding the importance of financial system and its impact on economic growth. Walter Bagehot (1873) and John Hicks (1969) viewed role of financial system as a critical factor for the mobilization of capital. Joseph Schumpeter (1912) explains that a well developed financial system stimulates funding for entrepreneurs; According to his view, Economic development fabricates demand for financial arrangements, and the financial system automatically counters these demands. Besides this, some economists just do not believe the role of finance development is crucial to economic growth. Among those (Robert Lucas, 1988) reasoned that economists poorly over-stress the role of financial development for economic growth. A growing body of work would push even most skeptics toward the belief that the development of financial markets and institutions is a critical and inextricable part of the growth process and away from the view that the financial system is an inconsequential side show, responding passively to economic growth and industrialization. There is even evidence that the level of financial development is a good predictor of future rates of economic growth, capital accumulation, and technological change. This research paper is based on an existing papers by (Garcia and liu; 1999) and (Julia Losseva, 2006). The main objective of this paper is to find the relationship between stock market development and the economic growth in developed economies. However there is an effort made to address the role of liquidity in the development of stock market which hasn t been given much of the attention. Some researchers argue that there is no influence of stock market development on economic growth. Recent evidence confirmed that Stock markets may affect economic development by providing liquidity to the market. Usually a profitable investment require long term commitment of the capital however Investors are apprehensive in holding up there capital for long time. Liquid equity market makes facilitates investment and offer quicker ways to alter portfolios so it s vital to both the investor and stock market development. (King and Levine, 1933) provide mechanism to enhance the economic activity they highlighted that financial system is better able to evaluate and finance the profitable prospective investor. The study explicate that financial institution provide the mechanism of evaluation and monitoring less costly and more efficiently, than the individual investors. Additionally the financial system provides better mobilization of capital and financing to the investors. Therefore promotes the growth by productivity improvements. Besides this financial system also assist in risk diversification for investor in relation to uncertain innovative improvements despite of the fact that financial system distortion result in a reduction over the rate of economic growth. It is stressed that the more developed financial system including banks and stock markets enhances the productivity and stimulate economic growth. Government policy on financial systems may have crucial influence on long run growth. (Levine and zervos, 1998) proposed that a well functioning stock market and banks enhance long run economic growth. In light of these conflicting views, this paper uses existing theory to organize an analytical frame work of the finance-growth nexus and then assesses the quantitative importance of the financial system in economic growth. In light of these conflicting views, this paper uses existing theory to organize an analytical frame-work of the finance-growth nexus and then assesses the quantitative importance of the financial system in economic growth. Although conclusions must be stated hesitantly and with ample qualifications, the preponderance of theoretical reasoning and empirical evidence suggests a positive, first-order relationship between financial development and economic growth. Broad problem area  Is there a Causal relationship between stock market development and economic growth? Literature Survey: Financial development and economic growth: the role of stock markets: Economists Hold startlingly different opinions regarding the importance of the financial system for economic growth. Walter Bagehot (1873) and John Hicks (1969) argue that it played a critical role in facilitating the mobilization of capital. Joseph Schumpeter (1912) contends that well functioning banks spur technological innovation by identifying and funding those entrepreneurs with the best chances of success. In contrast, Joan Robinson (1952, p. 86) declares that, economic development creates demands for particular types of financial arrangements, and the financial system responds automatically to these demands. The relationship between financial development indicators and economic growth has received a considerable attention in recent empirical literature. Many authors have concluded that the development of the financial system has a positive effect on the rate of economic growth. And the volume and efficiency of investment Fry, (1997), McKinnon (1973) Shaw 1973, and others such as Kapur (1976), Matheson (1980) and fry (1989) and (1997) have presented the theoretical backward of the relationship . Financial intermediation has positive effect on economic growth. McKinnon, 1973 and Shaw, 1973; emphasis the role of financial liberalization to increase saving and investment they argued that financial deepening improve not only productivity but also capital and saving. Therefore it improves prospects for investments and growth. Second by reducing the information and transaction cost the financial intermediaries. The main policy implication of the McKinnon/ Shaw frame work is that government restriction on the financial sector such as interest rate ceilings, high reserve requirements and directed credit policies distort the process of financial development and reduce economic growth. Greenwood and Jovanovic (1990) and king and Levine (1993) argue that the government intervention in the banking system reduces the growth rate of the economy because of the high transaction cost. Gurley and Shaw 1955, 1960, 1967; centred their theme on the importance of financial intermediation to direct saving to investment. Further to their research Atje and Jovanovich; 1993, link stock market development as a positive sign for economic growth and efficiency. Similarly Levine and zervos; 1998 and Singh; 1997 proposed stock market development as a positive function to the long term growth. (Gold smith; 1969) emphasized that the well structured financial system facilitates the growth economy and explained the overall positive impact of financial structure on economic growth. Pagano, 1993; identify that there is an increased risk sharing benefits in larger stock markets through market externalities while Levine and bencivenga smith and Starr, 1996; show that the stock market may affect economic activity through the creation of the liquidity similarly Devereux and Smith, 1994; and obstfeld 1994 shows that the risk diversification through internationally integrated stock markets is another vehicle through which the stock markets can effect economic growth. In the early researches carried out by (Greenwood and jovanovic s, 1990) emphasized the argument that well functioning financial markets lowers the transaction cost which help in directing the capital to most favourable project in terms of returns therefore promotes growth. Both (McKinnon/ Shaw and Gurley and Shaw 1955, 1960, 1967) stress the role of financial intermediaries on economic growth and they concluded that the easy transfer of funds gears the high social return for economic growth. (King and Levine, 1933) provided empirical evidence by observing financial intermediaries and their role in economic growth by using a cross country data of 80 different countries establish a direct relationship between a well developed stock market, banking system promotes economic growth. (King and Levine, 1933) provide mechanism to enhance the economic activity they highlighted that financial system is better able to evaluate and finance the profitable prospective investor. The study explicate that financial institution provide the mechanism of evaluation and monitoring less costly and more efficiently, than the individual investors. Additionally the financial system provides better mobilization of capital and financing to the investors. Therefore promotes the growth by productivity improvements. Besides this financial system also assist in risk diversification for investor in relation to uncertain innovative improvements despite of the fact that financial system distortion result in a reduction over the rate of economic growth. It is stressed that the more developed financial system including banks and stock markets enhances the productivity and stimulate economic growth. Government policy on financial systems may have crucial influence on long run growth. (Levine and zervos, 1998) proposed that a well functioning stock market and banks enhance long run economic growth. Joseph Schumpeter s view financial intermediaries are crucial for innovation and economic development and the same argument was concluded in the empirical work by Goldsmith, 1969; McKinnon, 1973); However some economist like Lucas, 1988 believe that financial development is not important for economic growth and describe the relationship of financial development and economic growth as over stressed. King and Levine strongly hold the view that there is strong relationship between among financial development and real per capita GDP growth and the rate of capital Allocation. They also determined the financial development is robustly correlated with future rates of economic growth. As a result King and Levine supported the idea which was proposed by Schumpeter 80 years back. In another article (Levine, 1933) develop an endogenous model to clarify the relationship between growth finance and entrepreneurship. The study the role entrepreneurs in initiating economic activity there are two views of Schumpeter; the first one which states that innovation are the motivation to seek temporarily monopoly profit. The second view which less popular is financial intermediary play a vital role in economic growth because of the fact that these financial intermediaries provide fund to the entrepreneur for their innovative activity and facilitate development of new product in the market. Previously the economist such as (Schumpeter, 1911) and (Walter Bagehot, 1873) emphasize the role of banking system in economic growth. Beside this historical emphasize on banking system there are few researches on the relationship between stock market and long run growth. Therefore (Levine and zervos, 1998) focused on stock market by using 47 countries data from (1976 -1993). The study empirically investigates whether banking and stock market indicators are strongly correlated with the current and future rate of economic growth, capital accumulation and productivity growth. Te evidences are consistent with the views that service provided by financial institution and markets are noteworthy for long run growth as argued by (King Levine, 1933) finally the study summarizes that financial environment plays crucial role in the economic growth process. In recent papers by (Rajan and Zingales, 1998) contribute to the finance and growth literature by examining whether industrial sector requiring external finance, in countries with well developed financial markets grow faster compared to those less developed financial market. The results are consistent with the theory that financial markets and institution reduce the cost of external finance. For firms and promote industrial growth a emphasized this would imply that an industry in need of external finance such as pharmaceutical grow relatively faster than tobacco industry requires little external finance in countries with well developed financial system Rajan and Zingales ,1998. Similarly Demirguc-kunt and Maksimovic, 1966 found consistent results with Rajan and Zingales, 1998 that firms in countries with well functioning banking system and equity markets grow faster than it was predicted to sum up the study suggest that financial development may cause the rise of new firms and can improve the growth indirectly and also finding provide evidence that financial market imperfection have an important role in on investment and growth. Moreover, some economists just do not believe that the finance-growth relationship is important. Robert Lucas (1988, p. 6) asserts that economists badly over-stress the role of financial factors in economic growth, while development economists frequently express their skepticism about the role of the financial system by ignoring it (Anand Chandavarkar 1992). The link between liquidity and economic development arises because some high-return projects require a long-run commitment of capital, but savers do not like to relinquish control of their savings for long periods. Thus, if the financial system does not augment the liquidity of long-term investments, less investment is likely to occur in the high-return projects. Indeed, Sir John Hicks (1969, pp. 143-45) argues that the capital market improvements that mitigated liquidity risk were primary causes of the industrial revolution in England. The critical new is capital market liquidity. With liquid capital markets, savers can hold assets-like equity, bonds, or demand deposits-that they can sell quickly and easily if they seek access to their savings. Simultaneously, capital markets transform these liquid financial instruments into long-term capital investments in illiquid production processes. With liquid capital markets, savers can hold assets-like equity, bonds, or demand deposits-that they can sell quickly and easily if they seek access to their savings. Simultaneously, capital markets transform these liquid financial instruments into long-term capital investments in illiquid production processes. Informational asymmetries and transaction costs may inhibit liquidity and intensify liquidity risk. These frictions create incentives for the emergence of financial markets and institutions that augment liquidity. Liquid capital markets, therefore, are markets where it is relatively inexpensive to trade financial instruments and where there is little uncertainty about the timing and settlement of those trades. Before delving into formal models of liquidity and economic activity, some intuition and history may help motivate the discussion. Demirguc kunt and Levine; 1996 identifies the relationship between stock market development and financial intermediary development. They find that better developed stock markets also have better developed financial intermediaries. Levine and Zervos; 1998; proposes that liquidity of the stock market is significantly correlated with current and future rates of economic growth. They also discovered that stock market liquidity and banking development significantly predict future areas of growth. Demirguc kunt and Levine, 1996; investigated the relationship between stock market development and financial intermediary development they also found that those countries having well developed stock markets have better developed financial intermediaries. Therefore they concluded that stock market development goes hand in hand with financial intermediary development. The financial development and its impact on new firms creation are investigated by (Beck, Demirguc-kunt and Levine, 2001) and the impact of economic development and financial structure on industry growth are examined by using country industry panel based on work by Rajan and Zingales, 1998 it is questions that whether industries that heavily depend on external finance grow faster in market or bank based financial system. Whether the level of financial development is a matter for economic development , beck Demirguc kunt and Levine, 2001 found that the banks non banks financial intermediaries and stock market are larger more active and more efficient in richer countries. These characteristics of financial system develops as countries become wealthier also the result indicates that while countries become wealthier stock markets become more active and efficient relative to the banks the more important finding of the article is that externally dependent industries grow relatively faster in countries with better developed financial systems which is consistent with the financial services view predicting that industries that dependent on external finance grow faster in economies with a higher level of financial development grow relatively faster in countries with better developed financial systems, which is consistent with the financial services view predicting that the industries that dependent on external finance grow faster in economies with a higher level of financial development. Further to their research by using 44 industrial and developing countries they investigated that institutionally developed market with strong information disclosure laws, international accounting standards and unrestricted capital flows are larger more liquid markets with less volatility and are internationally integrated with smaller markets. (Levine and Renelt, 1992; Arestis and Demetriades, 1997; Luintel and khan 1999) regarded the presence of endogeneity which weakens the estimated effect of stock market indicators (Harris, 1997) as in case of cross country regression to establish the relationship between stock market development and economic growth. Thus our results may be indirectly valuable for less developed economies in way that may help policy decision relating to the adoption of specific types of financial system. Informational asymmetries and transaction costs may inhibit liquidity and intensify liquidity risk. These frictions create incentives for the emergence of financial markets and institutions that augment liquidity. Liquid capital markets, therefore, are markets where it is relatively inexpensive to trade financial instruments and where there is little uncertainty about the timing and settlement of those trades. The ability to acquire and process information may have important growth implications. Because many firms and entrepreneurs will solicit capital, financial intermediaries, and markets that are better at selecting the most promising firms and managers will induce a more efficient allocation of capital and faster growth (Jeremy Greenwood and Boyan Jovanovic 1990). Bagehot (1873, p. 53) expressed this view over 120 years ago. Acquiring Information about Investments and Allocating Resources It is difficult and costly to evaluate firms, managers, and market conditions as discussed by Vincent Carosso (1970). Individual savers may not have the time, capacity, or means to collect and process information on a wide array of enter-prises, managers, and economic conditions. Information acquisition costs create incentives for financial intermediaries to emerge (Diamond 1984; and John Boyd and Edward Prescott 1986). Assume, for example, that there is a fixed cost to acquiring information about a product-ion technology. Without intermediaries, each investor must pay the fixed cost. In response to this information cost structure, however, groups of individuals may form (or join or use) financial intermediaries to economize on the costs of acquiring and processing information about investments. Information costs, however, may also motivate the emergence of money. Because it is costly to evaluate the attributes of goods, barter exchange is very costly. Thus, an easily recognizable medium of exchange may arise to facilitate exchange (King and Charles Plosser 1986; and Williamson and Randall Wright 1994). The financial systems ability to provide risk diversification services can affect long-run economic growth by altering resource allocation and the saving rates. The basic intuition is straightforward. While savers generally do not like risk, high-return projects tend to be riskier than low-re-turn projects. Thus, financial markets that ease risk diversification tend to induce a portfolio shift toward projects with higher expected returns (Gilles Saint-Paul 1992; Michael Devereux and Gregor Smith 1994; and Maurice Obstfeld 1994). Furthermore, a growing literature shows that differences in how well financial systems reduce information and transaction costs influence saving rates, investment decisions, technological innovation, and long-run growth rates. If we will consider the discussion exist on the relationship between the financial system and economic growth; financial markets development is always considered as pivotal element for growth of economy through the diverse contribution of stock markets and banks. Stiglitz (1985) argues that, because stock markets quickly reveal information through posted prices, there will be few incentives for spending private resources to acquire information that is almost immediately publicly available. The absence of financial arrangements that enhance corporate control may impede the mobilization of savings from disparate agents and thereby keep capital from flowing to profitable investments (Stiglitz and Andrew Weiss 1981, 1983). Because this vast literature has been carefully reviewed (Gertler 1988; and Andrei Shleifer and Robert Vishny, forthcoming), this subsection notes a few ways in which financial contracts, markets, and institutions improve monitoring and corporate control, and reviews how these financial arrangements for monitoring influence capital accumulation, resource allocation, and long-run growth. On the other hand Levine at al. 200 focus on the connection between financial intermediaries and the economic growth and the research question is that whether better functioning financial intermediaries account for a causal effect on the economic growth if so what determines the level of financial development, hence results might help the policy maker to adopt new incentives to develop specific financial sector in order to promote economic growth Levine et al. 2000 believe that financial development is an important indicator of future economic growth and it might be leading predictor rather than underlying cause of economic growth. Economists have recently modelled the emergence of financial markets in response to liquidity risk and examined how these financial markets affect economic growth. Theory, however, suggests that enhanced liquidity has an ambiguous affect on saving rates and economic growth in most models, greater liquidity. Increases investment returns Lowers uncertainty. Higher returns ambiguously affect saving rates due to well-known income and substitution effects. Further, lower uncertainty ambiguously affects savings rates (David Levhari and T. N. Srinivasan 1969). Thus, saving rates may rise or fall as liquidity rises. Indeed, in a model with physical capital externalities, saving rates could fall enough, so that growth actually decelerates with greater liquidity (Tullio Jap-pelli and Marco Pagano 1994). Besides reducing liquidity risk, financial systems may also mitigate the risks associated with individual projects, firms, industries, regions, countries, etc. Banks, mutual funds, and securities markets all provide vehicles for trading, pooling, and diversifying risk. Causality between financial development and economic growth: It is now well recognised that financial development is critical for economic growth. Recent literature on growth deals with the causal relationship along three lines Financial Deeping stimulates economic growth: Some analyst suggests that the financial development has a causal influence on economic growth. The financial sector increases saving and allocates them to more productive investments. Economic growth promotes the development of the financial sector : Some of the analyst thought financial development appears as a consequence of the overall economic development Continual economic expansion requires more financial services and new instruments. The financial system adapts itself to the financing needs of itself to the financing needs of the real sector and fits in the autonomous development. A circular relationship that financial development and the economic growth simultaneously affect each other: Reciprocal relationship; economic growth makes the development of the financial intermediation system profitable and the establishment of an efficient financial system permits faster economic growth. Specifically, countries with larger banks and more active stock markets grow faster over subsequent decades even after controlling for many other factors underlying economic growth. Industries and firms that rely heavily on external financing grow disproportionately faster in countries with well developed banks and securities markets than in countries with poorly developed financial systems. Moreover, ample country studies suggest that differences in financial development have, in some countries over extensive periods, critically influenced economic development. Economic activity and technological innovation undoubtedly affect the structure and quality of financial systems. Innovations in telecommunications and computing have undeniably affected the financial services industry. Moreover, third factors, such as a countrys legal system and political institutions certainly drive both financial and economic development at critical junctures during the growth process. Nevertheless, the weight of evidence suggests that financial systems are a fundamental feature of the process of economic development and that a satisfactory understanding of the factors underlying economic growth requires a greater understanding of the evolution and structure of financial systems. In arising to ameliorate transaction and information costs, financial systems serve one primary function: they facilitate the allocation of resources, across space and time, in an uncertain environment (Merton and Bodie 1995, p. 12). Based on previous literature we will investigate below mentioned variables as determinants of stack market development. Financial Intermediary Development, Regulatory framework, Income growth, Savings and investment, financial development, Inflation, Market capitalization, stock Market liquidity, GDP, Gross fixed investment. Real income has been found to be highly correlated with stock market development. Typically the higher the saving the higher the amount of capital flows towards stock market. The speed at which investor buy or sell the securities is pivotal to the development of stock market hence the liquidity of the market is (miller, 1991) hence without liquid stock market less investment may occur. A growing body of work would push even most skeptics toward the financial factors in economic growth, while development economists frequently express their skepticism about the role of the financial system by ignoring it (Anand Chandavarkar 1992). Put differently, in a Kenneth Arrow (1964)-Gerard Debreu (1959) state-contingent claim framework with no information or transaction costs, there is no need for a financial system that expends resources researching projects, scrutinizing managers, or designing arrangements to ease risk management and facilitate transactions. Thus, any theory of the role of the financial system in economic growth (implicitly or explicitly) adds specific frictions to the Arrow- Debreu model. Financial markets and institutions may arise to ameliorate the problems created by information and transactions frictions. Different types and combinations of information and transaction costs motivate distinct financial contracts, markets, and institutions. In arising to ameliorate transaction and information costs, financial systems serve one primary function: they facilitate the allocation of resources, across space and time, in an uncertain environment (Merton and Bodie 1995, p. 12). Thus, economic growth provides the means for the formation of growth-promoting financial intermediaries, while the formation of financial intermediaries accelerates growth by enhancing the al-location of capital. In this way, financial and economic development is jointly determined (Greenwood and Jovanovic 1990). Evidence on the relationship between financial structure and the functioning of the financial system, however, is more inconclusive. The Level of Financial Development and Growth: Cross-Country Studies consider first the relationship between economic growth and aggregate measures of how well the financial sys-tem functions. The seminal work in this area is by Goldsmith (1969). He uses the value of financial intermediary assets divided by GNP to gauge financial development under the assumption that the size of the financial system is positively correlated with the provision and quality of financial services. Using data on 35 countries from 1860 to 1963 (when avail-able) Goldsmith (1969, p. 48) finds: Goldsmiths work, however, has several weaknesses: (a) the investigation involves limited observations on only 35 countries; (b) it does not systematically control for other factors influencing economic growth (Levine and David Renelt 1992); (c) it does not examine whether financial development is associated with productivity growth and capital accumulation; (d) the size of financial intermediaries may not accurately measure the functioning of the financial system; and (e) the close association between the size of the financial system and economic growth does not identify the direction of causality.20. Recently, researchers have taken steps to address some of these weaknesses. For example, King and Levine (1993a, 1993b, 1993c) study 80 countries over the period 1960-1989, systematically control for other factors affecting long-run growth, examine the capital accumulation and productivity growth channels, construct additional measures of the level of financial development, and analyze whether the level of financial development predicts long-run economic growth, capital accumulation, and productivity growth. (Also, see Alan Gelb 1989; Gertler and Andrew Rose 1994; Nouriel Roubini and Xavier Sala-i- Martin 1992; Easterly 1993; and the overview by Pagano 1993.). They use four measures of the level of financial development to more precisely measure the functioning of the financial system than Goldsmiths size measure. Table 1 summarizes the values of these measures relative to real per capita GDP (RGDP) in 1985. The second measure of financial development, BANK, measures the degree to which the central bank versus commercial banks is allocating cr. The role of stock and credit market in the economic development has been an important subject of economic analysis. The main question is whether the stock or the credit market either follows or precedes economic development (Dritsaki and Dritsaki Bargiota, 2006). The subject under preview was initially studied by Schumpeter (1912), who considers that the development of the financial sector of a country affects not only the level but also the rate of growth. Other important studies are those of Lewis (1955) and Jung (1986). Lewis (1955), confirmed the existence of a bilateral relationship between the financial development and the real growth while Jung (1986) found a unilateral relationship from financial development to economic growth for the LDCs (Less Development Countries) and the reverse causal direction is valid for the DCs (Developed Countries). According to Levine and Zervos (1993), the stock market development is strongly correlated to the growth rates of real GDP per capita, while they found that the stock market liquidity and banking development may well predict the future growth rate of the economy. Other important studies that used the Granger causality tests are those by Luintel and Kahn (1999), Kar and Pantecost (2000), Shan and Morris (2002), and Dritsaki and Dritsaki Bargiota (2006). To be more specific, Luintel and Kahn (1999), found a bi  directional causality between the financial development and economic growth through the empirical investigation of the long  run relationship in ten sample countries. Furthermore, Kar and Pantecost (2000) that used data from Turkey found that economic growth leads financial development. The most significant finding though, is that the direction of causality between financial development and economic growth is related to the choice of measurement for financial development, at least in the case of Turkey. Shan and Morris (2002), found results that contradict those of Kar and Pentecost (2000). With the employment of Granger causality tests found that there is no causal relationship between financial development and economic growth in the most countries out of the 19 OECD countries. Finally, Dritsaki and Dritsaki Bargiota (2006), found a bilateral causal relationship between the banking sector development and economic growth, a unidirectional relationship between economic growth and stock market development in the case of Greece.. The present paper has as an objective to investigate the causal relationship between the stock market, the credit market and their role in the economic development. This study involves a transition economy, to be more specific Bulgaria and presents a great importance due to the special way that the particular markets function in such an economy. Another interesting feature is the entrance of Bulgaria in the EU as well as the adaption of euro as a national currency of the economy. What also must be mentioned is the openness of the economy and the inflow of the foreign capitals to the domestic economy, while at the same time the inflation may well be a factor that affects the link between banks, stock markets and economic growth; To be more specific Boyd et al. (2000), have shown that for countries with low  to moderate inflation, the inflation rates (as Bulgaria is the last few years) there is a strongly negative relationship between the banking and stock market development with inflation. Additionally, higher long  run inflations may lead to slower economic growth. For the reasons mentioned above the inflation should be tested as exogenous variable. Furthermore, the Granger causality test may confirm or not, the existence of a unilateral or bilateral relationship among the economic growth, the development in the banking sector and the development in the stock market. Thus, the present paper studies the validity of the theories that suggest that the financial development plays an important role in the process of the economic growth. Financial development and economic growth: the role of stock markets: The role taken by stock market and the ever increasing dependence of economic growth on financial growth provides new opening to research in to the relationship between financial development and economic growth, which focuses the effect of stock market development. Numerous studies have been carried out to reveal the relationship of stock market development and its role in economic growth by using the economic indicators to explain the part of the variation of growth development rates across countries. (Atje and Jovanovic 1993; Levine and zervos 1998) provided a cross country growth analysis using regression analysis to measure the effect of the economic indicators on banking system since these results are obtained by using cross country regression analysis which doesn t provides a precise view the relationship of stock markets and growth. Further to their analysis there is a wide spread critique concerning the robustness of the econometric results which have been raised because of using cross country growth regressions. So these results must be viewed with some caution. There is considerable econometric advantage if we deploy time series analysis instead of cross country regression analysis in examining the role of stock markets in the relationship between financial development and growth; this will better enable us to address of issue of causality and there are less likely that the research will suffer from other limitation of cross country growth regressions. Times series method also provides useful insight in identifying the relationship across countries and clarifies important details that are hidden in averaged out results. The paper utilizes the time series analysis to examine the relationship between economic growth and stock market development while controlling the effect of commercial banking and stock market volatility. Time series analysis has its own limitation; e.g. we need to obtain long time series of stock market development indicators which narrows down the focus of empirical analysis to five developed economies namely Germany, United States, Japan United Kingdom and France. While the absence of less developed economies form our sample means that no direct inferences can be made about the contribution of stock markets at early stages of economic development our finding never the less have implication for the debate on bank based versus capital market based financial system which has been already been discussed by the following researchers (Rajan and Zingales 1995, 1996) and (Horace, okazaki 1994); (Edwards and Fischer, 1994); (Corbett and jenkinson; 1994). Thus our results may be indirectly valuable for less developed economies in way that may help policy decision relating to the adoption of specific types of financial system. The paper is structured as follow. In section 1 we provide the role of stock markets and banks in the process of economic growth in section 2 we provide our data and econometric methodology in section three we present finding and discussions and their implications and debate on financial system. And the last section 4 will provide the summary and some concluding remarks. STOCK MARKETS AND BANKS AND ECONOMIC GROWTH: Positive effect of stock markets: Recent studies suggest that stock markets may contribute to long run growth. Stock market encourage specialization as well as acquisition and dissemination of information (diamond, 1984; greenwood and Jovanovic 1990; Williamson 1986) and may reduce the cost or saving thereby facilitating investments. (Greenwood smith, 1997) well developed stock markets may enhance corporate control by mitigating the principal agent problem through aligning the interest of managers and owners. Tips for policymakers: Given the important role well-functioning stock markets seem to play in economic growth, what can countries do to promote them? Fully answering this question is well beyond the scope of any single article. Legal, regulatory, accounting, tax, and supervisory systems influence stock market liquidity. The efficiency of trading systems determines the ease and confidence with which investors can buy and sell their shares. And the macroeconomic and political environments affect market liquidity. Consider the impact of one particular policy lever: liberalizing controls on international capital flows. Liberalization may involve easing restrictions on capital inflows or reducing impediments to repatriating dividends or cap- ital. In either case, reducing barriers to cross- border capital flows can affect the functioning of emerging stock markets: first, by enhancing the integration of emerging markets into world capital markets, thereby bringing the prices of domestic securities into line with those elsewhere; and, second, by forcing. However As shown in Chart 5, volatility does not have any measurable effect on long-term growth. Thus, if policymakers have the patience to weather some short-run volatility, lib- realization offers expanded opportunities for long-run economic growth. Does every country need an active stock market of its own? Unfortunately, there is not much evidence available to answer this question. In principle, all countries do not need domestic stock markets. They do, however, need easy access to liquid stock markets where residents and domestic firms can buy, sell, and issue securities. It is the ability to trade and issue securities easily that facilitates long-term growth, not the physical location of the market. In other words, there is little reason to believe that California would grow faster if the New York Stock Exchange were moved to Los Angeles. When should policymakers really push stock market development? This is even more uncertain. The available information suggests that policy maker Domestic firms seeking foreign investment to upgrade their information disclosure policies and accounting systems. Moreover, the entry of more foreign investors into emerging markets may lead to pressure to upgrade trading systems and modify legal systems to support more trading and the introduction of a greater variety of financial instruments. Through all of these channels, the removal of barriers to foreign investment can improve the operation of domestic capital markets. This is consistent with recent evidence. As shown in the table, stock market liquidity raised significantly in 12 out of 14 countries those lib- realized controls on international capital flows. Chile, for example, liberalized restrictions on the repatriation of dividends by foreign investors in January 1988. None of the 14 countries experienced a statistically significant drop in liquidity following liberalization. In conjunction with the earlier findings that market liquidity boosts economic growth, these results suggest that liberalizing international capital flow restrictions can accelerate economic growth by enhancing stock market liquidity. The table also indicates, however, that stock market volatility rose in 7 out of 11 countries following liberalization. Volatility did not fall significantly in any of the 11 countries following liberalization. Thus, while easing international capital flow restrictions may increase liquidity, it may also increase volatility. This should not be of much concern in the long run should remove impediments tax, legal,and regulatory barriers to stock market development. But there is not strong evidence to support interventionist policies like tax incentives that artificially boost stock market size and activity. While much work remains to be done, a growing body of evidence suggests that stock markets are not merely casinos where players come to place bets. Stock markets provide ser- vices to the nonfinancial economy that are crucial for long-term economic development. The ability to trade securities easily may facilitate investment, promote the efficient allocation of capital, and stimulate long-term economic growth. Furthermore, the evidence suggests that stock market liquidity encourages or at least strongly forecasts corporate investment, even though much of this investment is financed through retained earnings, bank loans, and bonds, rather than equity issues. Policymakers should consider reducing impediments to stock market development. Easing restrictions on international capital flows would be a good place to start. Own contribution and proposed methodology: I will use econometric analysis to find out what is the key to stock market development. We will follow the work of Garcia and Liu (1999). I will perform a panel regression on the pooled dataset constituting the United Kingdom, France, Italy and Spain. Unlike other research I am going to cover past 18 years in my panel set of data (1990-2008). I will test the following determinate of stock market development (market capitalization), economic growth, turnover ratio, GFI, FDI, and Inflation government debt risk, privatization risk, banking index and financial intermediary development. The main sources of my data are EBRD, and UNCTAD statistical tables And SP. The data will cover the listed and major sock holding companies. Description of the model: This paper will undergo cross sectional analysis over a period of 1990 to 2008. We will not use simple regression analysis because of the possibility of omitting important variables. As a result we will use panel data with a large number of observations to increases the degrees of freedom and by decreasing the correlation between explanatory variables which in turn gives a better statistical result. Therefore we will run a regression by using the following equation. YSMD = a + ÂÂ ²i xt + U  a  ÂÂ ² are constants and  X is a variable. Following is the general assumption of OSL. The term  a is specific for an individual country and varies across different countries. We will further refine our regression equation as we proceed with the project. The focus will be to compare the differences of emerging markets of South Asia with west Asia. To make our research more conclusive we will put a strong emphasize on liquidity of stock market which can give better prospects for the stock market development and the overall economic growth. We will get the data from UNCTAD united nation conference on trade and development.Afterwards the determinant identifies and discussed in the literature review will undergo panel regression and we will see the correlation between different variables. This will follow the implication of the research. TEST OF CO INTEGRATION CO INTEGRATION TEST: This study uses Granger causality test proposed by Granger; 1969 for testing the causality between stock market growth and economic growth. The hypotheses of interest are, Stock market (Granger) development cause economic growth. Stock market development doesn t (Granger) cause economic growth. Stock market growth doesn t causes (Granger) Economic growth and vice versa (i.e. there is no bilateral causation) The study of this relationship has been achieved with the implementation of co integration test. The co integration test was preceded by a stationarity test (ADF test). In particular, a multivariate autoregressive VAR model will be used while other independent variables, GDP, stock market capitalization will be used as exogenous variables. Furthermore, Granger causality tests were applied in order the causal relationship between SMD development, economic growth (IPI) and stock market development (capitalization index) to be examined. We will conduct also the Granger causality test: Granger s test is used when the variable is stationary or co integrated. Regression: xt=c+ÂÂ ±xt-1+ÂÂ ²yt-1+ut. Test H0: ÂÂ ²=0 (Time Series Econometrics, J. Hamilton, P.G. 302). The process of cointegration should be followed by the estimation of a VAR model in which a vector error correction mechanism should be included. This process is necessary given the fact that the variables under preview in logarithmic form are cointegrated. Unit Root Test: In order to apply the cointegration technique as mentioned above, we examine the stationarity of the time series studied. A pre-condition for the implementation of a multi VAR cointegration technique is the unit root test. The unit root test for our data will be Augmented Dickey Fuller (ADF) test (1979). The ADF (1979) test has been widely used for testing the existence of a unit root in the time series studied. This test is based on the following auxiliary regression of the general form; Where; This test aims at testing the null hypothesis that ÂÂ ³2 = 0 which is tantamount for a single unit root in the data generating process for pt. In order to determine the ADF form the significance of the constant was examined as well as the significance of the coefficient of the trend. Following these steps we ended up to the final form of the regression that includes no constant and no time trend. Cointegration with the Johansen technique: The cointegration analysis will be based on Johansen s multivariate cointegration methodology. Additionally, the estimation of the cointegration vectors will be applied with the treatment of the Johansen s maximum likelihood approach. According to Johansen (1988) any p  dimensional vector autoregression can be written in the following  error correction representation. Where; Xt: p  dimensional vector of I (1) processes, ÂÂ ¼: a constant ÂÂ µt: a p  dimensional vector with zero mean (ÂÂ   is the variance  covariance matrix) The ÂÂ   matrix has a rank that is limited in the (o, r) and can be decomposed into: Where; ÂÂ ±, ÂÂ ²: p x r matrices r: distinct cointegrating vectors. The procedure of Johansen provides the maximum likelihood estimates of ÂÂ ±, ÂÂ ², while ÂÂ   and the two likelihood ratio test statistics determine the order of the cointegration space. The trace and the maximum eigenvalue statistics are used to determine the rank of ÂÂ   and to reach a conclusion on the number of cointegrating equations, r, in our multivariate VAR system. The economic time series studied are I(1), while when only one relationship in the long run exists their combination is I(0). VAR Model with an Error Correction Mechanism: The error correction model may well be derived by the long run cointegration vector having the following form; Where; : denotes the first differences of the variables. : are the estimated residuals from the cointegrated regression ÂÂ ´: is the short run parameter that takes values in the (0,1) ut: is a white noise. What must be underlined in the process of estimation of a VAR model is the criterion used for the correct specification of the model. 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