Otherwise, the abundant resources make Africa the ideal place for being a manufacturing industry for the entire world and make higher profits than it does by exporting the raw material at a decreasing cost. Africa's Industry Sectors Agriculture is the biggest industry in Africa, and it employs 60 percent of the workforce in Africa. The land of Africa boasts huge amount of natural resources such as oil, diamonds, gold, iron, cobalt, uranium, copper, bauxite, silver and petroleum and also woods and tropical fruits.
It has more recently expanded to incorporate the vibrant and growing body of research in the affiliated fields of innovation and entrepreneurship. The program benefitted tremendously from Griliches' inspirational leadership, continued by Ernst Berndt after Zvi's untimely death in We have had the privilege of co-directing the program since The program has generated a remarkable volume of research activity.
It currently has 90 active members, and the program's cumulative output includes more than affiliated working papers on a wide range of topics. The activities of the program are organized into four large project areas. This review summarizes the research in each of these four areas.
Economic Research on Productivity As Paul Krugman famously quipped, "Productivity isn't everything, but in the long run it is almost everything. A country's ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker.
Even in the recent recession, there has been an active and ongoing debate about the long-term potential growth rate of U. Understanding productivity growth is a central topic in economics, and one that naturally overlaps with many other NBER programs. The research by program affiliates displays a strong emphasis on the roles of research and development, patents, incentive systems, regulations, technological progress and organizational form in influencing the extent and nature of productivity growth.
In addition, the PRIE Program has long had a sharp focus on economic measurement, including inputs, outputs, prices, quality change, and multifactor productivity, that has been led in particular by the Conference on Research on Income and Wealth CRIW.
Activities on the broad subject of productivity center on spring and summer research meetings. These meetings allow program members to present work in progress on a variety of productivity topics. The summer meetings are split into sessions that focus on macroeconomic aspects of productivity, and on productivity issues in developing countries.
Given the breadth of program's research, we can highlight only a few examples of the research issues that program members explore. One strand of research revolves around the productivity and performance of healthcare.
For example, one recent study examines the traditional wisdom that market forces are weak in the healthcare sector, leading to a massive dispersion of performance across hospitals.
The paper finds that indeed while there is a large spread of performance across hospitals, surprisingly it is comparable to the extent of dispersion in other sectors like manufacturing and retail.
The paper concludes the healthcare is far less of an exceptional industry than is commonly believed, looking in fact rather similar to sectors like manufacturing on certain market dimensions.
Another strand of the program focuses on the importance of micro and macro forces in driving aggregate productivity. Researchers often highlight two ways aggregate productivity can rise: One recent paper on this topic investigated the role of adjustment costs and volatility in explaining the dispersion and average of productivity across over 30 developing countries.
This highlights how removing distortions and adjustment costs, as well as reducing market turbulence and uncertainty, can aid the promotion of successful firms. A third strand of work centers around management and managers.
For example, one recent paper 6 shows how the structure of top management in U. General managerial positions have shrunk as a share of the total, and the pay of such managers has fallen as more specialized product and functional managers have joined.
Another study on a related topic detailed the collection of extensive data on the daily activities of Indian CEOs. This highlights how CEO types, hours and management styles are an important driver of firm productivity, and the importance of starting to explore what these are and how to measure them.
The CRIW is also an important component of the program's research activities on productivity issues. One of its goals is to support the development of the national accounts and associated statistics. It represents an ongoing collaboration between the statistical agencies, policy community, and academia to advance the field of economic measurement.
As such the membership of the CRIW is split between academic and non-academic members. The CRIW is funded by the statistical agencies and the organization has a sixteen person executive committee, chaired by Charles Hulten, that elects the membership and arranges for individual conferences.
Infor example, one focus was on the emerging value of "big data," including both administrative records from government agencies and transaction and customer data from private firms.
The CRIW also sponsors an annual conference. Current Knowledge and Challenges. Activities in this area were launched at a meeting that included many of the leading researchers from various fields of economics that touched on entrepreneurship. This meeting led to a broad consensus that by many measures, the years since had seen a dramatic increase in the importance of entrepreneurial activity in the United States.
While the overall growth in the number of entrepreneurial firms and business starts was relatively modest, the role of new enterprises in fomenting innovation, stimulating employment, and creating value for investors increased dramatically.Banking, Financial Services and Insurance (BFSI) sector is a vital sector for the Indian economy.
It is a barometer of the economy and is reflective of macro-economic variables.
The NBER Productivity, Innovation, and Entrepreneurship Program. encourages economists to study issues relating to the productivity of U.S. firms, including the determinants of investment, R&D, labor relations and entrepreneurship.
John Bird, John Fortune, Subprime Crisis, February 14, While there are many technical explanations of how the sub-prime mortgage crisis came about, the mainstream British comedians, John Bird and John Fortune, describe the mind set of the investment banking community in this satirical interview, explaining it in a way that sometimes only comedians can.
The enhanced role of the banking sector in Indian economy and the increasing levels of competition have placed numerous demands on co-operatives. Globalization has also resulted in improved risk management practices.
6 Banking on Technology: Perspectives on the Indian Banking Industry Private Sector Banks Sr. no Category Winner 1st Runner up 2nd Runner up 11 Technology Bank of the year HDFC Bank Ltd. ICICI Bank Ltd. Axis Bank Ltd.
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JSTOR is a digital library of academic journals, books, and primary sources. Conversational banking is the next big thing. The next big thing in customer service in banking is the use of artificial intelligence to create chatbots for easy user experience. While tech giants tend to hog the limelight on the cutting-edge of technology, AI in banking and other financial sectors is showing signs of interest and adoption – even among the stodgy banking incumbents.
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