This article reports on tests of rational political business cycle (PBC) models using an extensive new data set covering all Portuguese mainland municipalities. With a panel of observations for budget balances and expenditure items over the 1979-2000 periods, it is possible to examine the fiscal choices of local governments over a number of electoral cycles.
This study explores the reasons why organizations chose to use these systems, the problems and benefits derived from the MRP/ERP systems, and the characteristics of the types of companies that have benefited from the use of MRP-type systems. The survey participants evaluated the performance of their manufacturing or enterprise planning systems on the basis of data accuracy, customer satisfaction, user satisfaction, systems effectiveness, convenience, information relevance, and software reliability. Furthermore, success factors associated with organizational performance were tested and evaluated. The correlation between perceived performance was tested against the influence of upper management support, the level of emphasis on training, sources of technical expertise, and organizational experience with MRP-type systems.
No macro economic problem is as complex as public debt. The most distressing, that deprives even the basic amenities (health & education) to its people. According to the United Nations Programme for development, many countries spend a greater proportion of their budget on debt repayment than they allocate to education, health and other social services. In 2001, 38% of the budget in African countries was devoted to debt servicing.
Malawi with a Debt to GDP Ratio of 235.70% and Tanzania with 6.1% ranks first and last respectively among the 106 most indebted countries in the World for the year 2004. India ranks 43 rd position with an estimated public debt of 59.70% of its GDP. The debt crisis is echoed in the US and throughout Europe. Under George Bush’s Presidency, the national debt has risen by 34% which is 64.8% of GDP. Several financial crises in the past decade in large emerging markets (Argentina, Brazil, Mexico, Russia and Turkey) were triggered by Public debt.
