Economic Consequences of Credit Market Failure in Uganda Assignment

Economic Consequences of Credit Market Failure in Uganda - Assignment Example Its influence is becoming increasingly pervasive through a constant series of federal court decisions as well as steady enlargement in the size and scope of administering agencies. "The failure of formal credit institutions to serve the poor is due to a combination of high risks, high costs and consequently low returns associated with such business." (Orkut et al. 2004:5) Despite the pressure from the International agencies and Governments of the developed nations it will neither fruitful for the economy of the developing countries nor for the consumers of these countries to implement terms and conditions of lending and borrowing as applied in the developed countries. Factors contributing to this argument are many and varied, which include: Difference in economic conditions. Difference in technology and skills. Dependence economies of both the countries on Labour intensive industries. Loss of competitive advantage in international trade. The economy of Uganda is considered as one of the fastest growing economy in the African countries. The growth in the Gross domestic Product of Uganda has reached to 6.9%per year from 2.9% in the era of 1980s according to World Bank. (World Bank 2004:183) As a consequence of this growth,Appleton (2001:4)has estimated,based on household surveys,that the poverty headcount (defined relative to a poverty line close to the widely used dollar a day)has declined substantially:From 56%in 1992 to 34%in 1999/2000 - mainly because mean consumption per adult equivalent rose by 4.7%%per annum over this period (its distribution worsened slightly).Wider measures of poverty (the poverty gap ratio P1 and the poverty severity ratio P2)declined even more tha n the poverty headcount ratio (P0),thus indicating that the...This responsibility is being increasingly codified in law and various governmental orders. Its influence is becoming increasingly pervasive through a constant series of federal court decisions as well as steady enlargement in the size and scope of administering agencies. Despite the pressure from the International agencies and Governments of the developed nations it will neither fruitful for the economy of the developing countries nor for the consumers of these countries to implement terms and conditions of lending and borrowing as applied in the developed countries. The economy of Uganda is considered as one of the fastest growing economy in the African countries. The growth in the Gross domestic Product of Uganda has reached to 6.9%per year from 2.9% in the era of 1980s according to World Bank. (World Bank 2004:183) a. Competitive advantage: For the labour intensive economies like Uganda the competitive advantage heavily relies on the low cost of labour. In the countries like Uganda where most of the population of the country is leading their life below the poverty line it sometimes become inevitable for the consumers to make their child work so that they can get the basic necessities of life i.e. food, shelter and clothing.

Features Of The Ancient African Art Research Paper - 2

Features Of The Ancient African Art - Research Paper Example The book talks about the cultural belief behind the costume. The locals or indigenous members of the Kuba community believe that in order for life to be balanced you have to connect with the ancestors, therefore; the costume assists them in the connection. The book emphases that like in many African cultures death is a natural event and is characterized as a rite of passage, therefore, these costumes are designed for such events and rites of passage in the society. The Bwoom is a very iconic and symbolic artifact from the Kuba community. It represents a sign of royalty from the society. The mask assists the masquerade element to act out in its design and appearance. This aspect gives us an overview of the origin of the Kuba Kingdom, therefore; it will act as an archive for the history of this unique community in this globe1. This particular mask is named Bwoom because it is like a cornerstone of the community. This is a special mask in the community and it is different from any other mask ever used in the community. It is the only mask not used in funerals or any other sorrowful event in the community. During joyful occasions such as harvests and weddings, the males would be the mask on the forehead and see-through, the holes under the nose of the mask while dancing the. When people whore the mask in any occasion they would cover all parts of their bodies to give a real representation of the spirit. The picture below shows a Bwoom Helmet. The mask the will act as an exhibit dedicated to the tourist and researchers who are interested in the African culture. Including the artwork in the museum is also reflective of the shift of the ethnologists in western culture to view African cultures as diverse and complementary to other cultures.