Development in banking and finance Essay Example | Topics and Well Written Essays - 4500 words

Development in banking and finance - Essay Example With passage of time things turned more complex; bankruptcy of big financial institutions like Merrill Lynch, Morgan Stanley and Bank of America disturbed the sentiment of the market. Such state of affairs affected the global stock markets and soon almost all the developed nations were engulfed by economic recession (p.63-67) To support the economy, the government of different nations infused stimulus packages for injecting liquidity in the market. Government also provided bails to several corporate companies to save them from bankruptcy. The increasing financial crisis was aggravated by a decline in demand; hence government had to enhance spending so as to raise the demand. To raise the demand and boost confidence among the investors, government reduced tax rate on several direct as well as indirect tax instruments so that the investors can have more money in their hand. To boost expenditure among the investors and to enhance supply of cash in the market, government reduced prime lending rate as low as possible. From the above given fact it appears that government of almost all the developed nations are following expansionary monitory and fiscal policy. Through expansionary monitory policy governments were able to reduce the rate of interest to a great extent. Through open market operations the central bank enhanced total money circulating in the economy whereas the government enhanced the monitory supply through sovereign bond transactions. The governments of developed nation enhanced disbursement of cash through banking sector by reducing cash reserve ratio i.e. the cash which the banks need to maintain as deposit with central bank. Reserve banks gave loans to the financial instructions at lower rate so that they can disburse loans to the investors and supply of money increases. Interest rate is the most commonly used monitory tool to

Written report of Ma Wan Essay Example | Topics and Well Written Essays - 1250 words

Written report of Ma Wan - Essay Example Although Ma Wan is a small island, it has proved to be a favourable destination for international and local tourists (Sewell & James, 1995). It has a number of leisure places such as the Ma Wan Park, Noah’s Ark Museum, Ma Wan Tung Wan Beach overseen by the Leisure and Cultural Services Department and the Heritage Centre (Sewell & James, 1995). Ma Wan is an island and a relative small one and as such has a small number of inhabitants. One thing notable is the old abandoned houses that are found in sections of the island. The governments seem to have prompted an agenda of relocating some of the locals to ease population in this area. The reduction of the population had fallen to 800 in 2008 (You Lin Xu, 2011). Abandoned shops are visible, and schools too, one being the Kei Wai Primary School indicating that the locals had not been alienated to the outside world. Religion integration is well-bonded in Ma Wan. Noah’s Ark is also an important landmark in Ma Wan. It is based on the Biblical story about Noah. The presence of temples has been an indication of the preservation of Ma Wan’s religion. Presence of churches and temples places Ma Wan as a multi-religion region, and there has been a peaceful co-existence between these different groups. These indicates an important aspect of diversification around Ma Wan. Ma Wan transport has been significantly advanced, and the construction of Kap Shui Mun Bridge is an indication of this progress. However, though, the people of Ma Wan depend on water transport mainly to get to the mainland and also the tourists mainly use water transport as part of their leisure activities. Therefore, it is an indication that Ma Wan has limited connection of roads to the mainland of Hong Kong. As such, the locals offer transport services through boats. A harbour is also present in Ma Wan, and this has been as a result of the evacuation