Lending by foreign banks to emerging markets is a defining feature of financial globalization. In the years preceding the recent global crisis, foreign bank lending to emerging economies expanded rapidly—whether directly from foreign banks‘ headquarters (cross border) or through affiliates operating in host countries. Although it had its pros and cons, on balance the presence of foreign-owned banks was generally believed to have enhanced competition and aided overall financial stability.
During the recent global credit crunch, however, foreign banks were potential vehicles for spreading a crisis that originated in advanced economies into emerging markets. As their financial health deteriorated sharply, banks‘ global scramble for dollar liquidity and the need to deleverage balance sheets raised concerns that these bank flows could retrench significantly, disrupting macroeconomic stability in emerging markets.
The Earned Income Tax Credit (EITC) is a refundable federal income tax credit first enacted with bipartisan political support in 1975. The EITC encourages low-income workers with children to enter and remain in the labor market by supplementing the earnings of those working for low wages, thus “making work pay.”
The EITC’s popularity is based in part on its ability to provide both work incentives and tax relief for low-income workers and their families. Considered the nation’s largest anti-poverty program, in 2004 the EITC reached more than 21 million households and provided benefits of more than $39 billion to low-income workers and their families. Every year, the EITC is credited with lifting more than 4.5 million individuals more than half of them children–above the federal poverty line (Greenstein, 2005b).
This study examined nutrient intake, dietary habits, and the weight status of adult women in South Africa, Kenya, and Nigeria, with a focus on breakfast intake and the use of spreads on bread. Dietary intake from South African women was based on secondary data analysis of dietary studies which were already undertaken previously (n=992), and those from the National Food Consumption Survey and the South African Demographic and Health Study. A sample of 1008 women was randomly selected from all adult women in Kenya, as a representative sample of four districts. Data from Nigeria came from a national survey undertaken in 2003. In all three studies, fieldworkers were trained to do personal interviews using specific questionnaires with each participant at their homes, namely a socio-demographic questionnaire, and a 24-hour recall questionnaire. Furthermore, each participant was weighed and waist and hip circumferences were measured. Reliability of the 24-hour recalls in Kenya were checked by means of repeated interviews on a sub-sample of 10% of the participants (n=104).
Overall, South African women had an energy intake of 7239 kJ, carbohydrate intake of 244.5 g, protein intake of 61.6 g and a fat intake of 46.6 g while this was 6967 kJ, 231.1 g, 42.4 g and 62.3 g, respectively, in Kenyans. Generally, South African macronutrient and mineral intakes were higher than those of Kenyans were, with the exception of fat, saturated fat and iron intake. Fat intake as a percentage of total energy intake was greater in Kenya (33.1%) compared to that in South Africa (22.9%). Dietary data for South Africa showed that calcium, iron, folate, vitamin B6, and vitamin D were the most deficient in the diet. In Kenya, the most deficient nutrients were also calcium, vitamin B6, niacin, vitamin D, and folate; additionally niacin, thiamine and riboflavin intakes were low.
