Financial Markets and Institutions FITH EDITION NOTES
| Institution | UNIVERSITY |
| Course | Financial Markets |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | Mwalimu Evans Okoyo. |
| File Type | |
| Pages | 850 Pages |
| File Size | 13.49 MB |
| Views | 2212 |
| Downloads | 0 |
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Description
In the 1990s, financial markets in the United States boomed. The Dow Jones Industrial
Index—a widely quoted index of the values of 30 large corporations (see Chapter 8 )—rose
from a level of 2,800 in January 1990 to more than 11,000 by the end of the decade; this
compares to a move from 100 at its inception in 1906 to 2,800 eighty-four years later.
In the early 2000s, as a result of an economic downturn in the United States and elsewhere,
this index fell back below 10,000. The index rose to over 14,000 in July 2007,
but (because of an increasing mortgage market credit crunch, particularly the subprime
mortgage market) fell back to below 13,000 within a month of hitting the all-time high. By
2008, problems in the subprime mortgage market escalated to a full blown financial crisis
and the worst recession in the United States since the Great Depression. The Dow Jones
Industrial Arerage (DJIA) fell to 6,547 in March 2009 before recovering, along with the
economy, to over 11,000 in April 2010.
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Substitution and Elimination Electron Flow Pathway
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Path Limitations
There are three requirements for the S N 2 reaction.
In order to be pushed out, the leaving group must be at least fair, usually good. The nucleophile also must be reactive enough to push out the leaving group.
Finally, the back side of the tetrahedral carbon attacked must be
accessible to the nucleophile and not blocked by other groups.
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The SN2 reaction
The hydroxide ion is a good nucleophile since the oxygen atom has a negative charge and a pair of unshared electrons.
The carbon atom is electrophilic since it is bound to a (more electronegative)
halogen, which pulls electron density away from the carbon, thus polarizing the
bond with carbon bearing partial positive charge and the halogen bearing partial negative charge.
The nucleophile is attracted to the electrophile by electrostatic charges.
The nucleophile attacks the electrophilic carbon through donation of 2 electrons. Carbon can only have a maximum of 8 valence electrons, so as the carbon nucleophile bond is forming, then the carbon-leaving group bond must be breaking. Iodide is the leaving group since it leaves with the pair of electrons that once bound it to carbon.
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This module unit is intended to impart in trainees cooking skills and attitudes required
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XEA 406: Poverty and Development
Economic Growth
Economic growth and economic development are generally not one and the same thing but most
people use the terms interchangeably.
What is economic growth and how is it different from economic development?
Economic growth means increase in per capita income or sustained increase in a country's output
of goods and services.
Kenya’s Growth Performance
Kenya’s economic growth has followed an oscillating pattern since independence in 1963 as
shown in Figure 1. In 1964, the economy took an upward trajectory up to 1972 when the growth
took a nosedive but started rising again in 1975. Following two decades of stagnation in per
capita income and high volatility of economic activity, Kenya’s economy moved to a path of
accelerating growth after 2002 when a new government was sworn in. The rate of economic
growth increased steadily from below 1percent in 2002 to 7percent in 2007. Following the December 2007
elections, the country was hit by post election violence in January 2008 followed by global
financial crisis in 2008/2009 and this negatively impacted the rate of economic growth as shown
in Figure 1.
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