Open-economy macroeconomists regularly invoke the policy trilemma that states that governments cannot simultaneously maintain an open capital account, a fixed exchange rate, and a domestically-oriented monetary policy. My thesis is that jurisdictions with substantial offshore activities find these and other macroeconomic choices significantly affected by something else: Concern for the continued health and development of their international financial business. Monetary, exchange-rate, and tax policies and the choice of domestic currency all will be impacted by this concern. The different choices made by (1) Denmark and Malta in ERM II, (2) offshore financial centers in Europe, and (3) financial centers in East Asia are considered to develop some general conclusions.
{"title":"The Economics of Offshore Financial Services and the Choice of Tax, Currency, and Exchange-Rate Regimes","authors":"George M. von Furstenberg","doi":"10.2139/ssrn.925885","DOIUrl":"https://doi.org/10.2139/ssrn.925885","url":null,"abstract":"Open-economy macroeconomists regularly invoke the policy trilemma that states that governments cannot simultaneously maintain an open capital account, a fixed exchange rate, and a domestically-oriented monetary policy. My thesis is that jurisdictions with substantial offshore activities find these and other macroeconomic choices significantly affected by something else: Concern for the continued health and development of their international financial business. Monetary, exchange-rate, and tax policies and the choice of domestic currency all will be impacted by this concern. The different choices made by (1) Denmark and Malta in ERM II, (2) offshore financial centers in Europe, and (3) financial centers in East Asia are considered to develop some general conclusions.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132727149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Strains on the Federal budget have created worries that Federal funding of aid for higher education will fall in the future. If this happens, state governments will need to try to re-allocate their higher education spending more efficiently. One possible way to do this would be to shift funding away from public provision towards demand-side subsidies so that more students could attend private colleges. However, this will only work if private colleges provide benefits to students over public. Whether this is true is theoretically and empirically unclear. In order to answer this question, I use highly detailed and rich data sets to assess whether there are benefits to attending private colleges over public ones. For males the wage return is small and insignificant during their twenties but both statistically and economically significant at around 11% by the time the students reach their mid-thirties. For females I do not find any statistically significant wage returns. Attending a private school does appear to enhance future educational outcomes for both genders. In particular, the increase in likelihood of obtaining a bachelor degree is 13.5 percentage points for men and 8.9 percentage points for women.
{"title":"Are There Returns to Attending a Private College or University?","authors":"Scott A. Imberman","doi":"10.2139/ssrn.975492","DOIUrl":"https://doi.org/10.2139/ssrn.975492","url":null,"abstract":"Strains on the Federal budget have created worries that Federal funding of aid for higher education will fall in the future. If this happens, state governments will need to try to re-allocate their higher education spending more efficiently. One possible way to do this would be to shift funding away from public provision towards demand-side subsidies so that more students could attend private colleges. However, this will only work if private colleges provide benefits to students over public. Whether this is true is theoretically and empirically unclear. In order to answer this question, I use highly detailed and rich data sets to assess whether there are benefits to attending private colleges over public ones. For males the wage return is small and insignificant during their twenties but both statistically and economically significant at around 11% by the time the students reach their mid-thirties. For females I do not find any statistically significant wage returns. Attending a private school does appear to enhance future educational outcomes for both genders. In particular, the increase in likelihood of obtaining a bachelor degree is 13.5 percentage points for men and 8.9 percentage points for women.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134554923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Corporate social responsibility in the field of universities refers basically to all activities undertaken by the institutions of higher education. Services to society are realized by teaching the inquisitive, doing research and rendering other services to their environment. Most of the activities in teaching and research are directly or indirectly connected to the field of knowledge transfer. Knowledge transfer especially to economy is - from a society perspective - one of the prominent services universities have to render beside teaching and research. Nearly all the time it is criticized that the potentials existing in offering these services in Germany are far from being fully exhausted. Therefore the objectives of this paper are to show the status of knowledge transfer, to analyze this actual situation by showing why the broad possibilities of knowledge transfer from universities to economy are so seldom used and finally to propose a way how the transfer willingness of the actors in the university can be increased, always looking especially at the German background. The paper shows that knowledge transfer between university and economy can be on one hand a very helpful way to overcome some of the actual problems of the university and on the other hand can fecundate both university and economy. In contrast the status quo of knowledge transfer between the two institutions shows, that potentials are not yet utilised. This could be lead back to several hindrances which occur at the emotional level and due to different uncertainties.
{"title":"Hindrances, Benefits and Measurement of Knowledge Transfer in Universities - Should Be Done More in the Light of Corporate Social Responsibility?","authors":"Lisa Hubig, Dr. Andreas Jonen","doi":"10.2139/ssrn.939390","DOIUrl":"https://doi.org/10.2139/ssrn.939390","url":null,"abstract":"Corporate social responsibility in the field of universities refers basically to all activities undertaken by the institutions of higher education. Services to society are realized by teaching the inquisitive, doing research and rendering other services to their environment. Most of the activities in teaching and research are directly or indirectly connected to the field of knowledge transfer. Knowledge transfer especially to economy is - from a society perspective - one of the prominent services universities have to render beside teaching and research. Nearly all the time it is criticized that the potentials existing in offering these services in Germany are far from being fully exhausted. Therefore the objectives of this paper are to show the status of knowledge transfer, to analyze this actual situation by showing why the broad possibilities of knowledge transfer from universities to economy are so seldom used and finally to propose a way how the transfer willingness of the actors in the university can be increased, always looking especially at the German background. The paper shows that knowledge transfer between university and economy can be on one hand a very helpful way to overcome some of the actual problems of the university and on the other hand can fecundate both university and economy. In contrast the status quo of knowledge transfer between the two institutions shows, that potentials are not yet utilised. This could be lead back to several hindrances which occur at the emotional level and due to different uncertainties.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124865612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Controversies about aid effectiveness go back decades. Some experts charge that aid has enlarged government bureaucracies, perpetuated bad governments, enriched the elite in poor countries, or just been wasted. Others argue that although aid has sometimes failed, it has supported poverty reduction and growth in some countries and prevented worse performance in others. This new working paper by CGD senior fellow Steve Radelet explores trends in aid, the motivations for aid, its impacts, and debates about reforming aid. It begins by examining aid magnitudes and who gives and receives aid. It discusses the multiple motivations and objectives of aid, some of which conflict with each other. It then explores the empirical evidence on the relationship between aid and growth, which is divided between research that finds no relationship and research that finds a positive relationship (at least under certain circumstances). It also examines some of the key challenges in making aid more effective, including the principal-agent problem and the related issue of conditionality, and concludes by examining some of the main proposals for improving aid effectiveness.
{"title":"A Primer on Foreign Aid","authors":"S. Radelet","doi":"10.2139/ssrn.983122","DOIUrl":"https://doi.org/10.2139/ssrn.983122","url":null,"abstract":"Controversies about aid effectiveness go back decades. Some experts charge that aid has enlarged government bureaucracies, perpetuated bad governments, enriched the elite in poor countries, or just been wasted. Others argue that although aid has sometimes failed, it has supported poverty reduction and growth in some countries and prevented worse performance in others. This new working paper by CGD senior fellow Steve Radelet explores trends in aid, the motivations for aid, its impacts, and debates about reforming aid. It begins by examining aid magnitudes and who gives and receives aid. It discusses the multiple motivations and objectives of aid, some of which conflict with each other. It then explores the empirical evidence on the relationship between aid and growth, which is divided between research that finds no relationship and research that finds a positive relationship (at least under certain circumstances). It also examines some of the key challenges in making aid more effective, including the principal-agent problem and the related issue of conditionality, and concludes by examining some of the main proposals for improving aid effectiveness.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130799888","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2006-06-16DOI: 10.1111/j.1467-8608.2006.00449.x
Taru Vuontisjärvi
No abstract available.
没有摘要。
{"title":"The European Context for Corporate Social Responsibility and Human Resource Management: An Analysis of the Largest Finnish Companies","authors":"Taru Vuontisjärvi","doi":"10.1111/j.1467-8608.2006.00449.x","DOIUrl":"https://doi.org/10.1111/j.1467-8608.2006.00449.x","url":null,"abstract":"No abstract available.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129025646","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The proliferation of aid projects may overburden recipient governments with reporting requirements, donor visits, and other administrative overhead, siphoning off scarce domestic recipient resources, such as tax revenue or the time of skilled government officials, from directly productive use. But greater oversight may also improve the administration of projects, increasing development. I present a model of aid projects that reflects both sides of this coin. It posits a distinction between national-level governance and project-level governance. A donor can raise project-level governance above the baseline national level by requiring oversight activities of the recipient, although the benefits from doing so are less where national-level governance is already high. The model assumes that larger projects demand proportionally less oversight activity from the recipient. Comparative statics analysis suggests that to maximize development, projects should be larger where aid volume is higher, to avoid overburdening recipient administrative capacity; where recipient resources are scarcer, for the same reason; and where national governance is good, since the marginal benefit of oversight is then lower. A multi-donor generalization shows how donors that are imperfectly altruistic, caring most about the success of their own projects, will tend to sink into competitive proliferation, in which each donor subdivides its aid budget into smaller projects to raise the marginal productivity of the recipient’s resources in those projects and attract them away from other donors. The inefficiency arises from the lack of a market among donors for recipient resources. In a Nash equilibrium, competitive proliferation reduces overall development. But the smallest (selfish) donors can gain. This would discourage them from cooperating with other donors to contain competitive proliferation.
{"title":"Competitive Proliferation of Aid Projects: A Model","authors":"G. David Roodman","doi":"10.2139/ssrn.983151","DOIUrl":"https://doi.org/10.2139/ssrn.983151","url":null,"abstract":"The proliferation of aid projects may overburden recipient governments with reporting requirements, donor visits, and other administrative overhead, siphoning off scarce domestic recipient resources, such as tax revenue or the time of skilled government officials, from directly productive use. But greater oversight may also improve the administration of projects, increasing development. I present a model of aid projects that reflects both sides of this coin. It posits a distinction between national-level governance and project-level governance. A donor can raise project-level governance above the baseline national level by requiring oversight activities of the recipient, although the benefits from doing so are less where national-level governance is already high. The model assumes that larger projects demand proportionally less oversight activity from the recipient. Comparative statics analysis suggests that to maximize development, projects should be larger where aid volume is higher, to avoid overburdening recipient administrative capacity; where recipient resources are scarcer, for the same reason; and where national governance is good, since the marginal benefit of oversight is then lower. A multi-donor generalization shows how donors that are imperfectly altruistic, caring most about the success of their own projects, will tend to sink into competitive proliferation, in which each donor subdivides its aid budget into smaller projects to raise the marginal productivity of the recipient’s resources in those projects and attract them away from other donors. The inefficiency arises from the lack of a market among donors for recipient resources. In a Nash equilibrium, competitive proliferation reduces overall development. But the smallest (selfish) donors can gain. This would discourage them from cooperating with other donors to contain competitive proliferation.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126812993","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper we analyze the conditions under which a foreign direct investment (FDI) involves a net capital flow across countries. Frequently, foreign direct investment is financed in the host country without an international capital movement. We develop a model in which the optimal choice of financing an international investment trades off the relative costs and benefits associated with the allocation and effectiveness of control rights resulting from the financing decision. We find that the financing choice is driven by managerial incentive problems and that FDI involves an international capital flow when these problems are not too large. Our results are consistent with data from a survey on German and Austrian investments in Eastern Europe.
{"title":"When is FDI a Capital Flow?","authors":"Dalia. Marin, Monika Schnitzer","doi":"10.2139/ssrn.1328369","DOIUrl":"https://doi.org/10.2139/ssrn.1328369","url":null,"abstract":"In this paper we analyze the conditions under which a foreign direct investment (FDI) involves a net capital flow across countries. Frequently, foreign direct investment is financed in the host country without an international capital movement. We develop a model in which the optimal choice of financing an international investment trades off the relative costs and benefits associated with the allocation and effectiveness of control rights resulting from the financing decision. We find that the financing choice is driven by managerial incentive problems and that FDI involves an international capital flow when these problems are not too large. Our results are consistent with data from a survey on German and Austrian investments in Eastern Europe.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"336 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134114794","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Multilateral Debt Relief Initiative (MDRI) is the latest phase of debt reduction for poor countries from the World Bank, the IMF, and the African Development Bank. The MDRI, which will come close to full debt reduction for at least 19 (and perhaps as many as 40) qualifying countries, is being presented as a momentous leap forward in the battle against global poverty. However, the analysis in this paper suggests that the actual gains may be more modest and elusive. This is not because, as some anti-debt campaigners fear, that the initiative is a mere accounting trick. Rather, the limited short-term financial impact of the MDRI on affected countries is because the debt service obligations being relived were themselves relatively insignificant. For example, in 2004 the average African country in the program paid $19 million in debt service to the World Bank, but received 10 times that amount in new Bank credit and more than 50 times as much in total aid. Just as importantly, finances are rarely the binding constraint on poverty and other development outcomes. This is not to say that the MDRI is futile. Indeed the impact could be considerable over the long-term, especially on the ability of creditors to be more selective in the future. But most of the impact of the MDRI will be long-term and difficult to measure. As such, expectations of the effect on indebted countries and development indicators should be kept modest and time horizons long.
{"title":"Will Debt Relief Make a Difference? Impact and Expectations of the Multilateral Debt Relief Initiative","authors":"Todd J. Moss","doi":"10.2139/ssrn.983182","DOIUrl":"https://doi.org/10.2139/ssrn.983182","url":null,"abstract":"The Multilateral Debt Relief Initiative (MDRI) is the latest phase of debt reduction for poor countries from the World Bank, the IMF, and the African Development Bank. The MDRI, which will come close to full debt reduction for at least 19 (and perhaps as many as 40) qualifying countries, is being presented as a momentous leap forward in the battle against global poverty. However, the analysis in this paper suggests that the actual gains may be more modest and elusive. This is not because, as some anti-debt campaigners fear, that the initiative is a mere accounting trick. Rather, the limited short-term financial impact of the MDRI on affected countries is because the debt service obligations being relived were themselves relatively insignificant. For example, in 2004 the average African country in the program paid $19 million in debt service to the World Bank, but received 10 times that amount in new Bank credit and more than 50 times as much in total aid. Just as importantly, finances are rarely the binding constraint on poverty and other development outcomes. This is not to say that the MDRI is futile. Indeed the impact could be considerable over the long-term, especially on the ability of creditors to be more selective in the future. But most of the impact of the MDRI will be long-term and difficult to measure. As such, expectations of the effect on indebted countries and development indicators should be kept modest and time horizons long.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129820507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research explores why some facilities accrue greater costs when adopting an environmental management system (EMS) and why costs vary among three different ownership structures. Using survey data of organizations that documented their EMS adoption costs over a three-year period, the results show that publicly traded facilities had stronger complementary capabilities prior to EMS adoption and therefore lower adoption costs. By contrast, government facilities and privately owned enterprises had fewer capabilities and accrued higher EMS adoption costs. The development of organizational capabilities and resources therefore appears to be a function of both organizational exploitation of imperfect or incomplete market factors, and the institutional context of these decisions.
{"title":"Predicting the Cost of Environmental Management System Adoption: The Role of Capabilities, Resources and Ownership Structure","authors":"Nicole Darnall, D. Edwards","doi":"10.1002/SMJ.518","DOIUrl":"https://doi.org/10.1002/SMJ.518","url":null,"abstract":"This research explores why some facilities accrue greater costs when adopting an environmental management system (EMS) and why costs vary among three different ownership structures. Using survey data of organizations that documented their EMS adoption costs over a three-year period, the results show that publicly traded facilities had stronger complementary capabilities prior to EMS adoption and therefore lower adoption costs. By contrast, government facilities and privately owned enterprises had fewer capabilities and accrued higher EMS adoption costs. The development of organizational capabilities and resources therefore appears to be a function of both organizational exploitation of imperfect or incomplete market factors, and the institutional context of these decisions.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123623350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. van der Berg, R. Burger, R. Burger, M. Louw, D. Yu
Using a constructed data series and another data series based on the All Media and Products surveys (AMPS), this paper explores trends in poverty and income distribution over the post-transition period. To steer clear of an unduly optimistic conclusion, assumptions are chosen that would tend to show the least decline in poverty. Whilst there were no strong trends in poverty for the period 1995 to 2000, both data series show a considerable decline in poverty after 2000, particularly in the period 2002-2004. Poverty dominance testing shows that this decline is independent of the poverty line chosen or whether the poverty headcount, the poverty ratio or the poverty severity ratio are used as measure. We find likely explanations for this strong and robust decline in poverty in the massive expansion of the social grant system as well as possibly in improved job creation in recent years. Whilst the collective income of the poor (using our definition of poverty) was only R27 billion in 2000, the grants (in constant 2000 Rand values) have expanded by R22 billion since. Even if the grants were not well targeted at the poor (and in the past they have been), a large proportion of this spending must have reached the poor, thus leaving little doubt that poverty must have declined substantially. However, there are limits to the expansion of the grant system as a meaNS of poverty alleviation, pointing to the importance of economic growth with job creation for sustaining the decline in poverty The data also shows that there is substantial progress in economic terms amongst some Black, who have managed to join the middle class. This expansion was most rapid at the upper end of the income spectrum – Blacks constituted about half the growth of this segment of the consumer market in the period 1995-2004.
{"title":"Trends in Poverty and Inequality Since the Political Transition","authors":"S. van der Berg, R. Burger, R. Burger, M. Louw, D. Yu","doi":"10.2139/ssrn.982093","DOIUrl":"https://doi.org/10.2139/ssrn.982093","url":null,"abstract":"Using a constructed data series and another data series based on the All Media and Products surveys (AMPS), this paper explores trends in poverty and income distribution over the post-transition period. To steer clear of an unduly optimistic conclusion, assumptions are chosen that would tend to show the least decline in poverty. Whilst there were no strong trends in poverty for the period 1995 to 2000, both data series show a considerable decline in poverty after 2000, particularly in the period 2002-2004. Poverty dominance testing shows that this decline is independent of the poverty line chosen or whether the poverty headcount, the poverty ratio or the poverty severity ratio are used as measure. We find likely explanations for this strong and robust decline in poverty in the massive expansion of the social grant system as well as possibly in improved job creation in recent years. Whilst the collective income of the poor (using our definition of poverty) was only R27 billion in 2000, the grants (in constant 2000 Rand values) have expanded by R22 billion since. Even if the grants were not well targeted at the poor (and in the past they have been), a large proportion of this spending must have reached the poor, thus leaving little doubt that poverty must have declined substantially. However, there are limits to the expansion of the grant system as a meaNS of poverty alleviation, pointing to the importance of economic growth with job creation for sustaining the decline in poverty The data also shows that there is substantial progress in economic terms amongst some Black, who have managed to join the middle class. This expansion was most rapid at the upper end of the income spectrum – Blacks constituted about half the growth of this segment of the consumer market in the period 1995-2004.","PeriodicalId":199069,"journal":{"name":"SEIN Social Impacts of Business eJournal","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126541188","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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