Somit Varma, Director IFC Oil, Gas, Mining and Chemicals Department

Size: px
Start display at page:

Download "Somit Varma, Director IFC Oil, Gas, Mining and Chemicals Department"

Transcription

1 IFC is pleased to receive this independent report from Apoyo on the economic impacts of the Yanacocha mine. The report clearly lays out the significant economic impacts of the mine in terms of its contribution to employment, taxes, local spending and GDP. Yanacoha's development has coincided in recent years with a period of fast growth in the Peruvian economy to which and increased natural resource investment and production generally has contributed. The country's overall macro-economic management and the world economy have allowed Peru to take advantage of the resources investment and production boom without suffering the consequences of a "macro-economic resources curse". Over the last five years, for example, Peru's real GDP has grown by an average of close to 7% pa. As the report notes, and those who are familiar with the development of resources in Peru are aware, the inter-relationships between communities and large mining and other resource development projects is complex and can be further impacted by ongoing changes such as urbanization and economic growth and development more generally. Communities are affected in a variety of ways, not all positive from their perspective, and they may appreciate some of the benefits that such developments and their community programs bring more than others. This complexity, emphasizes the importance of investors continuing to engage with stakeholders about their programs, as Yanacocha does in Peru. Somit Varma, Director IFC Oil, Gas, Mining and Chemicals Department

2 Study of the Yanacocha Mine s Economic Impacts: Final Report Prepared for the International Finance Corporation by Lima, September 2009

3

4 Table of Contents EXECUTIVE SUMMARY... I INTRODUCTION... 1 METHODOLOGY... 4 CLASSIFICATION OF IMPACTS... 4 IMPACT ANALYSIS... 4 Impacts at the Macroeconomic Level... 4 Impacts at the Regional and Local Levels... 5 Impacts at the Socioeconomic Level... 6 INSTRUMENTS FOR IMPACT ANALYSIS... 7 LIMITATIONS OF THE STUDY... 8 ANALYSIS OF THE YANACOCHA MINE S IMPACTS IMPACTS AT THE MACROECONOMIC LEVEL Mine Production Fiscal Contribution Value Added Employment IMPACTS AT THE REGIONAL AND LOCAL LEVELS Mine Operations Effects of the Yanacocha Mine s Presence Mining Company Social Responsibility Programs Generation of Fiscal Revenues SOCIOECONOMIC IMPACTS Access to Basic Services Overcrowding Index Quality of Housing Education Per Capita Income CONCLUSIONS OVERALL IMPACTS THE MINE S DISTRIBUTIVE EFFECTS THE MINE S EFFECT ON POVERTY IN THE REGION APPENDIX: BACKGROUND ON METHODOLOGIES USED THE VALUE ADDED MULTIPLIER EMPLOYMENT MULTIPLIERS THE DOUBLE DIFFERENCE METHODOLOGY REFERENCES... 52

5 EXECUTIVE SUMMARY The economic impacts of the Yanacocha Mine are evident at the macroeconomic level, at the regional level, and locally in the mine s area of influence. These impacts are transmitted by means of four main channels. The first channel is related to the mine s operations and refers primarily to the impacts directly generated by the nature of the business, including its use of personnel, its procurement of goods and services, its construction and maintenance of roads, and its use of resources such as water and land. The second channel is the mine s presence, which refers to long-term impacts generated by the mine s existence, for example, the migration driven by the economic expectations generated by the mine, the strain on local public resources caused by the resulting population pressure, and the boost to the local economy resulting from expenditures by mine employees. The third impact channel refers to the mining company s social responsibility programs. The fourth impact channel is the generation of fiscal revenues. The overall economic impacts of the Yanacocha Mine are positive. At the macroeconomic level, the mine accounts for a significant contribution to national coffers, the demand for goods and services, and the availability of employment. The overall impacts at the regional and local levels are also positive, although interviews with focus groups identified some negative perceptions regarding the nature of mining activities and the socioeconomic conditions in the mine s area of influence. While the mine appears to account for significant improvements in nonmonetary indicators of well-being and the quality of life, monetary indicators show some improvement, but this improvement is not particularly different from that in comparable regions, possibly because Peru generally has grown relatively quickly in the period examined. Regional and local level impacts are transmitted through four different channels: the mine s operations, the mine s presence, the mining company s social responsibility programs, and the generation of fiscal revenues. Overall, the channel involving the mine s operations is positive, given its contribution to both the quantity and quality of work in the area and its boost to local businesses because of the mine s expenditures and the expenditures of its employees, who are paid significantly more than nonmine workers. Despite the mine s job creation, the extent of direct job creation is relatively low in relation to the mine s contribution to regional gross domestic product primarily i

6 because of the capital-intensive nature of mining. The local population interviewed perceives the mine s contributions to local infrastructure positively, but has an unfavorable view of the gap between the wages of mine workers and those of nonmine workers. Some interviewees also allege that the mine is responsible for water pollution and soil erosion. In so far as the second channel of regional and local impacts, the mine s presence, is concerned, the mine has attracted significant migration, especially to urban areas. This has led to some negative effects such as price increases in the city of Cajamarca brought about by increased demand, higher spending power of mine employees, and excessive demand for some public services plus some negative perceptions among local residents about the effects of the influx of migrants. The third channel refers to the social responsibility programs of the mining company, Minera Yanacocha. While these programs have made significant contributions in terms of roads and household water and sewage hookups, their contributions to health and education are relatively insignificant. The last channel of regional and local impacts refers to the generation of fiscal revenues, in particular, the mining canon (canon minero), a transfer of 50 percent of the income tax generated by mining operations to regional and local governments where mining operations are located. In 2006, these revenues accounted for more than 39 percent of central government transfers to regional governments and more than 23 percent of transfers to local governments. This channel has become an important source of resources, and if properly invested, could be a potential source of positive impacts for the region. In relation to the nonmonetary socioeconomic impacts, the population in the mine s area of influence has seen greater improvements in basic services, reductions in household overcrowding, and enhancements in literacy rates than populations in control districts, but lower levels of improvements in housing quality. Regarding monetary indicators, poverty and extreme poverty in the mine s area of influence improved between 2001 and 2007, but no more than in comparable districts elsewhere in the country. ii

7 INTRODUCTION Cajamarca is one of the 25 regions of Peru (figure 1) and includes part of the northern Andes and the northern Amazon jungle. Its population is about 1.4 million people, or 4.9 percent of Peru s total population of 28 million (2007 census). Each region is subdivided into provinces that are in turn subdivided into districts. Figure 1: The Regions of Peru 1

8 The region of Cajamarca is divided into 13 provinces that are in turn subdivided into a total of 128 districts. One of the provinces is also named Cajamarca and has a population of approximately 316,000 people. The capital of Cajamarca Province (and of the region) is the city of Cajamarca, which together with the district of Cajamarca has roughly 188,000 inhabitants. The region of Cajamarca is the sixth poorest region in Peru: in 2007, 65 percent of the population fell below the poverty line and 31 percent fell below the extreme poverty line, compared with national poverty rates of 39 percent and 13.7 percent, respectively (national household survey 2007). 1 In 2007, average annual per capita income in the region was equivalent to approximately US$700, compared with US$1,460 nationally (national household survey 2007). The projected infant mortality rate for is 37 per 1,000 births, compared with a projected national infant mortality rate of 29 per 1,000 births for the same period (Cuánto 2007). Finally, in 2007, the region had 3.5 doctors per 10,000 habitants compared with a national average of 15.2 doctors per 10,000 inhabitants (Cuánto 2008). Thus with respect to these indicators, the region of Cajamarca falls well below national averages. The Yanacocha Mine is a gold mine located in the Andes in the region of Cajamarca. The mine s concession occupies around 25,000 hectares (of which the mine site is about 5000 hectares), including four important hydrographic basins (Cajamarquino, Celendín, Jequetepeque, and Llaucano) located between 3,400 and 4,120 meters above sea level. The mine s area of influence is Cajamarca Province, specifically the districts of Baños Del Inca, Cajamarca, and La Encañada. The city of Cajamarca is located 2,720 meters above sea level and is the economic, tourist, industrial, commercial, cultural, and mining hub of the Northern Sierra of Peru. The investment partners of Minera Yanacocha, the Yanacocha mining company, are Newmont Mining Corporation (51.35 percent), Compañía Minera Buenaventura (43.65 percent), and the International Finance Corporation (IFC) (5.00 percent). Currently Newmont Peru Limited, a Peruvian subsidiary of Newmont Mining, manages the mine. Newmont Mining began exploration in the area in 1982 and identified the first ore deposits in Following successful viability studies, operations began at the 2 1 National household surveys are carried out by the National Institute of Statistics (Instituto Nacional de Estadística e Informática). 2 In addition to regions, provinces, and districts, geographic divisions (coast, Sierra, Amazon basin) are commonly used to compare regions. As the region of Cajamarca is located in the Northern Sierra, it is frequently compared with other regions in this geographical area. 2

9 Carachugo pit in The first gold bar was produced in August From that time, the Yanacocha Mine s production grew considerably until it became the most important producer of gold in South America. In 1994, mining activities began at the Maqui Maqui pit. By February 3, 1996, the mine had produced 1 million ounces of gold ore. That same year, the Yanacocha Mine began to operate at the San José pit, and in 1997 work began at the Cerro Yanacocha pit. The mine s location offered excellent opportunities for exploitation, which prompted the mine company to also begin to exploit the La Quinua pit in The two pits that are currently producing gold ore are La Quinua and Cerro Yanacocha. The Yanacocha Mine has performed well at a commercial and economic level, but has nevertheless faced some negative reactions from the local community. This may indicate that not everyone in the mine s area of influence has benefited from the mine s development, and subsequently, not everyone has perceived it positively. For this reason, IFC, which has been one of the mining company s partners since 1993, decided to undertake a study to assess the mine s impacts on economic development and poverty reduction. This study includes the following specific objectives: identifying the channels through which the mining company generates impacts nationally, regionally, and locally and determining the relative importance of each channel; evaluating whether the mine s area of influence has undergone significant changes as a result of the mine s development; differentiating between groups who have benefited from the presence and operations of the mine and those who have been adversely affected. 3 Newmont Mining was the first company to develop and apply the lixiviation process to exploit disseminated ore, whose grade is low. The Yanacocha Mine s production during the early 1990s was focused on applying this extraction technology. These efforts contributed to a substantial increase in Peru s gold production such that small-scale mining is currently replicating this technology. 3

10 METHODOLOGY APOYO Consultoría estimated the impacts of the Yanacocha Mine at three different levels using a different methodological approach for each level. Classification of Impacts Given the magnitude of the mine s operations, APOYO Consultoría decided to conduct its analysis at three levels: the macroeconomic level, the regional and local level, and the socioeconomic level. The impacts at the macroeconomic level refer primarily to the mine s aggregate effects on gross domestic product (GDP) growth, national fiscal revenues, and employment generation. The impacts at the regional and local level refer to aggregate impacts generated in the region, province, or districts in relation to the mining company s operations and social responsibility actions and to the fiscal revenues generated by the mining canon. 4 At the socioeconomic level, impact indicators refer to long-term effects on individuals well-being and quality of life, for example, access to infrastructure and services at the regional and local levels. Impact Analysis The following subsections explain the methodological approaches used for each level of analysis. Impacts at the Macroeconomic Level 4 The mining canon is the transfer from the central government of the equivalent of 50 percent of the income tax generated by mining operations to regional, provincial, and district governments where mining operations are located. These resources are to be spent on infrastructure projects. 4

11 We estimated impacts at the macroeconomic level by applying the economic multiplier methodology. This permits quantifying the total impact generated by a given sector, in this case, the mining sector, on the rest of the economy by identifying forward and backward linkages created with other industries. In the case of Peru, the National Institute of Statistics (Instituto Nacional de Estadística e Informática or INEI) constructed multipliers in 2001 based on the input-output matrix it had developed in 1994 (INEI 2001). Despite the limitations of the input-output matrix (the main limitation being that linkages between industries might have changed since 1994), it is currently the only instrument available for estimating the overall impacts of the mine at the macroeconomic level. The multipliers used for this assessment include the value added multiplier and the employment multiplier. The value added multiplier represents the effects that mining output has on GDP, which may be direct, indirect, or induced. Direct effects are produced by the value added of the mine, indirect effects correspond to the output generated by the demand for inputs required to operate the mine, and induced effects correspond to the economic activity generated by consumption by the mine s employees. According to INEI estimates and the multiplier methodology (explained in the appendix), each dollar of production generated by the Yanacocha Mine generates US$2.33 in the economy. The employment multiplier is based on the ratio of total jobs generated (directly, indirectly, or induced) and jobs directly generated in the mining sector. For each job generated by mining activity in Peru, 9.58 jobs are created at the macroeconomic level. This estimated number of total jobs created includes not only the direct employment generated by the mine, but also the indirect and induced jobs created in the national economy. Impacts at the Regional and Local Levels The impacts of the Yanacocha Mine s activities at the regional and local levels are manifested through different transmission channels. Part of the research process consisted of identifying and classifying these transmission channels. This was accomplished by means of focus groups in the mine s direct areas of influence, both urban and rural, and interviews with specialists. The impact analysis was conducted by 5

12 identifying impact indicators for each transmission channel and comparing them with developments in other regions to obtain an objective comparison of the results. Impacts at the Socioeconomic Level The main difficulty with impact evaluations is that one cannot know for sure what would have occurred to the group of beneficiaries in the absence of the intervention; in this case, the mine. We therefore needed to identify a group of individuals with characteristics similar to those of the beneficiary group, but who had not been affected by the mine. We refer to this group as the control group. We estimated the Yanacocha Mine s socioeconomic impacts using a methodology known as the difference-within-difference or double difference methodology (Blundell and Costa Dias 2002; Borland, Tseng, and Williams 2005), which is often used to evaluate the impacts of social programs or projects on beneficiaries. This methodology provides an objective measurement of the value generated by a project, because it attempts to attribute specific effects to the project being evaluated by comparing indicators for the treatment group and a control group at two points in time: before and after the intervention. To this end we compared residents of a number of districts directly influenced by the mine and a number of districts with similar characteristics not influenced by the mine. The objective was to isolate effects directly attributable to the Yanacocha Mine. The first step of this comparison was to identify all the districts in the Cajamarca region that belonged to the beneficiary (or treatment) group. The second step consisted of identifying Sierra districts that had not had any mining or other comparable large-scale projects, some of which would eventually be included in the control group. To this end, the third step was to identify key characteristics from the 1993 census for the beneficiary districts and the control districts (table 1). We then selected the control districts using the propensity score matching methodology (Caliendo and Kopeinig 2005; Rosenbaum and Rubin 1983, which facilitates the identification of statistically comparable entities. 6

13 Table 1: Characteristics of Beneficiary and Control Districts Percentage of the population that is rural Altitude of the capital city (meters above sea level) Percentage of professionals Employment rate (%) Average years of education Region District Group Population pscore a Ancash Ataquero Control 83 2, , Ancash Chavin de Huantar Control 83 3, , Ancash Parobamba Control 84 3, , Ayacucho Santiago de Pischa Control 80 3, Cajamarca Cajamarca Beneficiary 26 2, , Cajamarca La Encañada Beneficiary 96 3, , Cajamarca Los Baños del Inca Beneficiary 80 2, , Cajamarca San Juan Control 83 2, , Huancavelica Huancavelica Control 16 3, , Huánuco Quisqui Control 94 2, , La Libertad Quiruvilac Control 44 4, , Puno Sina Control 79 2, , Source: 1993 census. a. The pscore is an indicator used to identify the level of similarity between district groups. Disctricts with similar pscores can be compared. We used the double difference methodology at the district level to assess nonmonetary indicators of the mine s socioeconomic impacts. However, to assess the monetary indicators, we needed to use other comparators such as the Sierra or Northern Sierra because of the lack of information at the district level. In these cases, the accuracy of the analysis is limited, but it does provide some valuable insights into trends of the impacts. Instruments for Impact Analysis To analyze the main economic impacts of the Yanacocha Mine we used information provided by the mining company as well as secondary data sources, such as national censuses; information available from the Central Bank, the Ministry of Finance, the Ministry of Energy and Mines, and the INEI; and national household surveys. To strengthen the analysis we developed an expenditure survey of mine workers and also conducted several focus groups in the mine s area of influence. The objective of the expenditure survey was to characterize the expenditure patterns of Yanacocha Mine workers and contractors to determine the total contribution of this group to local consumption in the Cajamarca region. The total sample size was 383 (165 mine workers and 218 contractors), with a 5.5 percent sampling error and a 95 percent confidence level. We conducted the focus groups to identify the main channels of transmission of 7

14 impacts and to ascertain people s perceptions about different aspects of the mine and its operations. 5 We held these focus groups in three different areas: rural communities, semi-urban areas, and urban areas. We conducted the rural focus groups in various rural communities in the districts of Cajamarca and La Encañada (Aliso Colorado, Chilipampa, Hualtipampa, Huambocancha, La Ramada, Porcón, and Purhuay). We held the semi-urban focus groups in the districts of Baños del Inca (community of Santa Barbara) and La Encañada (community of San José). We ran the urban focus groups with middle-income residents of the city of Cajamarca. The eight focus groups consisted of men and women between the ages of 25 and 60. Limitations of the Study In an ideal scenario, the analysis of the Yanacocha Mine s impacts on development and poverty reduction would be based on a baseline study that would have provided impact indicators at the beginning of the mine project for both the beneficiary group and an adequate control group. Unfortunately, no such study was carried out, hence our use of secondary information and focus groups. Given study constraints, we were not able to analyze in detail the mine s disaggregated purchases by types of goods and services; the source of the purchases (abroad, national, or local); and the suppliers. This means that we could not directly identify the impacts derived from local purchases of goods and services, but have considered the general impacts of mine spending with local companies. The study was also limited by public data availability, particularly at the regional and local levels. The most significant restrictions in relation to secondary information were at the local level in that little information exists at this level. Census information provides the only database that has information on population centers at two points in time (1993 and 2005), but changes in census methodology and variations in the regions population structure make comparing information at the regional level impossible; however, the censuses do provide good information at the district level for some indicators. Nevertheless, information from the censuses did not permit us to conduct a more complete analysis of well-being variables such as people s health, 5 Note that the information generated by the focus groups may not be representative of all residents in a particular location. 8

15 household incomes, and the like. For this reason, we conducted much of the evaluation of socioeconomic impacts at the regional level using the national household survey and comparing the 1998 survey with the 2006 survey. 6 Given study constraints, we were not able to gather and assess quantitative information about the mining company s social responsibility activities at the local level in order to analyze the individual effectiveness of such activities. For this reason we based our analysis on figures obtained from the mining company s annual reports and individuals perceptions ascertained during focus group discussions. Finally, one of the main channels through which the mine can bring about changes in people s well-being and incomes comes from the mining canon, which goes directly to subnational governments (regional, provincial, and district) from the national government. However, most of the canon s impacts will depend on the quality of the expenditures and investments by subnational governments. 6 Even though the comparability of both surveys is not optimal, they provided sufficient information for us to obtain a good estimate of impact indicators. 9

16 ANALYSIS OF THE YANACOCHA MINE S IMPACTS Mining activity at the Yanacocha Mine began in Since that time, the mine has become an important source of value added, employment, and fiscal revenues. Impacts at the Macroeconomic Level The Yanacocha Mine s economic impact has been positive at the macroeconomic level as evidenced by its effects on the principal macroeconomic variables. Mine Production The main mineral the Yanacocha Mine produces is gold. Between 1994 and 2007, Peru produced 1,857 tons of gold, of which 42 percent, or 782 tons, was produced by the Yanacocha Mine (figure 2). Gold production at the mine grew at an average annual rate of 17 percent between 1993 and 2007, reaching its maximum level of 104 tons in However, the mine has reduced its production since 2006, primarily because the reserves at its main deposits have decreased significantly. Figure 2: National Gold Production, Percentage of total production Production by the Yanacocha Mine National production excluding the Yanacocha Mine Source: Yanacocha Mine and Central Bank data. 10

17 The Yanacocha Mine also produces silver as a byproduct of the gold extraction process. It produces approximately 48 tons of silver per year, or 3.5 percent of Peru s total silver production. Virtually all the mine s production is exported, making the mine an important component of the Peruvian mining sector s total exports. The mine s gold exports have accounted for 14.5 percent of total mining exports and 7 percent of total exports. Between 1993 and 2007, mining exports accounted for close to 54 percent of total exports (figure 3). This constituted an important source of foreign currency inflows that became even more valuable after 2002 with the boom in metal prices. Figure 3: Evolution of Total and Mining Exports, US$ billions Mining exports Total exports Source: Yanacocha Mine and Central Bank data. The cumulative value of the Yanacocha Mine s exports between 1993 and 2007 was US$10 billion (figure 4), representing 43 percent of total gold exports. Figure 4: Evolution of Gold Exports, US$ billions Yanacocha Mine All other Peruvian gold mines Source: Yanacocha Mine and Central Bank data. 11

18 Fiscal Contribution Tax payments by the mining industry as whole have grown substantially in recent years. The Yanacocha Mine has made an important contribution in this respect. During , the mining company paid US$1.150 billion in income tax, customs duties, and the National Housing Fund (Fondo Nacional de Vivienda) tax, the Solidarity Extraordinary Tax (Impuesto Extraordinario de Solidaridad IES), as well as US$18 million in contributions to the Social Security Scheme (table 2). The mining company s total tax contributions grew at an average annual rate of 47 percent during Table 2: Contributions to Fiscal Revenues by the Yanacocha Mine, (US$ thousands) Social Security National Housing Year Customs duties Income tax Scheme Fund tax Total a , , , , , , , , , , , , ,715 1, , ,328 16,481 1, , ,522 1, , ,162 1, , ,449 2, , ,495 2,926 n.a. 235, ,482 3,874 n.a. 260,939 Total 6,891 1,121,094 18,064 4,002 1,150,052 Source: Yanacocha Mine data. Note: n.a. = not applicable. a. Also including Solidarity Extraordinary Tax. Corporate tax payments by the mine increased significantly from 2003 because of increases in international metal prices. The Yanacocha Mine s corporate tax contribution between 2000 and 2006 averaged 28 percent of the corporate tax paid by the entire mining sector (figure 5). 12

19 Figure 5: Corporate Tax Collections from the Mining Sector 5 4 (US$ billions) Yanacocha mine Total Sector Source: Yanacocha mine and National Tax Administration data. During , the Yanacocha Mine s workers contributed directly to the national treasury with payments of US$$69.8 million for personal income tax (table 3), or an average of 0.7 percent of total personal income tax collections. This is in addition to payments of US$77 million to the Fund for Training and Job Promotion. Table 3: Employees' Contributions to Fiscal Revenues, (US$ thousands) Personal income tax Fund for Training Personal income tax Year (mine's own employees) and Job Promotion (contractors' employees) Total , , ,073 3, ,088 7, , ,984 5, , ,361 4,691 1,891 8, , ,158 6, , ,702 8, , ,377 10, ,928 13,199 3,425 24, ,260 15,018 3,401 27, ,097 19,395 3,682 34, ,131 10,339 3,964 28,434 Total 69,968 77,023 30, ,257 Source: : Yanacocha Mine data; : APOYO Consultoría estimates. 13

20 In addition, the mine s shareholders generated direct contributions of US$38 million in taxes withheld in years that dividends were paid. Value Added The Yanacocha Mine s value added was US$6.3 billion during (table 4), or an average of 0.8 percent of Peru s GDP, 26 percent of the Cajamarca region s GDP, and 15 percent of mining GDP. 7 Its total impact on GDP (including indirect and induced effects) is substantially larger. Based on the mining sector multiplier mentioned in the methodology section, each dollar of production generated by the Yanacocha Mine generates, on average, US$2.33 of GDP. Hence, given that between 1993 and 2006 the gross value of the Yanacocha Mine s production was approximately US$9.1 billion, the total value generated in the economy was approximately US$21.3 billion. Figure 6: The Yanacocha Mine s Contribution to GDP, Percentage of GDP Direct effect Indirect and induced effect Source: Yanacocha mine and INEI data; APOYO Consultoría estimates. 7 To estimate the value added by the Yanacocha Mine, we used the structure of the sector as registered in The value added by the mining sector represents approximately 68 percent of the gross value of production and the remainder corresponds to intermediate consumption. According to information provided by the mine in May 2008, the cash production cost of gold (excluding depreciation and other capital costs) was US$350 per ounce and the final product was worth US$890 per ounce. Taking into account that production costs include payments for factors of production and expenditures on inputs, we believe that the ratio suggested by the input-output matrix is a valid approximation. 14

Fine-Tuning Regulation based on Access Indicators

Fine-Tuning Regulation based on Access Indicators Fine-Tuning Regulation based on Access Indicators Fiorella Arbulú Díaz 1 / Abstract This document highlights the importance of financial inclusion data in the policymaking process. In particular, it describes

More information

ENGINEERING LABOUR MARKET

ENGINEERING LABOUR MARKET ENGINEERING LABOUR MARKET in Canada Projections to 2025 JUNE 2015 ENGINEERING LABOUR MARKET in Canada Projections to 2025 Prepared by: MESSAGE FROM THE CHIEF EXECUTIVE OFFICER Dear colleagues: Engineers

More information

The Economic Impacts of Reducing. Natural Gas and Electricity Use in Ontario

The Economic Impacts of Reducing. Natural Gas and Electricity Use in Ontario The Economic Impacts of Reducing Natural Gas and Electricity Use in Ontario Prepared for Blue Green Canada July 2013 Table of Contents Executive Summary... i Key Findings... i Introduction...1 Secondary

More information

The peruvian mining sector an overview

The peruvian mining sector an overview The peruvian mining sector an overview Pedro Martinez Carlevarino President January 19th, 2012 National Society of Mining, Oil and Energy (SNMPE) Our institution represents the main mining, hydrocarbons

More information

Coastal Restoration Spending in Louisiana Economic Impact Analysis

Coastal Restoration Spending in Louisiana Economic Impact Analysis Coastal Restoration Spending in Louisiana Economic Impact Analysis Louisiana Workforce Commission www.lmi.laworks.net/green September 2011 In 2009, Louisiana and Mississippi partnered to research economic

More information

FOURTH QUARTER 2011 RESULTS

FOURTH QUARTER 2011 RESULTS FOURTH QUARTER 2011 RESULTS Mexico City, February 27, 2012, Minera Frisco, S.A.B. de C.V. ( Frisco, BMV: FRISCO OTC: MSNFY) announced today its results for the fourth quarter and full year 2011. Highlights

More information

HW 2 Macroeconomics 102 Due on 06/12

HW 2 Macroeconomics 102 Due on 06/12 HW 2 Macroeconomics 102 Due on 06/12 1.What are the three important macroeconomic goals about which most economists, and society at large, agree? a. economic growth, full employment, and low interest rates

More information

Evolution of informal employment in the Dominican Republic

Evolution of informal employment in the Dominican Republic NOTES O N FORMALIZATION Evolution of informal employment in the Dominican Republic According to official estimates, between 2005 and 2010, informal employment fell from 58,6% to 47,9% as a proportion of

More information

The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States

The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States August 2014 The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States THE PERRYMAN GROUP 510 N. Valley Mills Dr. Suite 300 Waco,

More information

Peru RATING PERU Competitive Index WB Doing Business WB Starting a Business Corruption Index S&P s Economic/Industry Risk Heritage Economic Freedom

Peru RATING PERU Competitive Index WB Doing Business WB Starting a Business Corruption Index S&P s Economic/Industry Risk Heritage Economic Freedom Peru Driven mainly by domestic demand and rising investments, Peru s economy will be one of the best-performing economies in South America in 2014 according to Euromonitor International. The trade agreement

More information

Islamic Republic of Afghanistan Ministry of Public Health. Contents. Health Financing Policy 2012 2020

Islamic Republic of Afghanistan Ministry of Public Health. Contents. Health Financing Policy 2012 2020 Islamic Republic of Afghanistan Ministry of Public Health Contents Health Financing Policy 2012 2020 Table of Content 1. Introduction 1 1.1 Brief County Profile 1 1.2 Health Status Data 1 1.3 Sources

More information

The Business Case for Sustainability

The Business Case for Sustainability The Business Case for Sustainability The Business Case for Sustainability Whether managing downside risk, creating business value by incorporating sustainable solutions, or identifying innovative ways

More information

Macroeconomic. impact of the Wind Energy Sector in Belgium

Macroeconomic. impact of the Wind Energy Sector in Belgium Macroeconomic impact of the Wind Energy Sector in Belgium Report December 2012 For further information please visit www.deloitte.es Deloitte provides audit, tax and legal advisory, consulting and corporate

More information

SITUATION OF CHILDREN IN PerU

SITUATION OF CHILDREN IN PerU SITUATION OF CHILDREN IN PerU executive SUMMARY Index INTRODUCTIOn... 1 SituaTIOn OF CHILDREN AND adolescents... 2 EARLY CHILDHOOD (FROM CONCEPTION THROUGH 5 YEARS)... 4 CHILDHOOD (FROM 6 TO 11 YEARS)...

More information

Agricultural ECONOMICS. The Use of Multipliers in Economic Impact Estimates

Agricultural ECONOMICS. The Use of Multipliers in Economic Impact Estimates EC-686 $1.00 Agricultural ECONOMICS Community Development The Use of Multipliers in Economic Impact Estimates David Broomhall Extension Economist Introduction In many communities across America local officials

More information

MEASURING ECONOMIC IMPACTS OF PROJECTS AND PROGRAMS

MEASURING ECONOMIC IMPACTS OF PROJECTS AND PROGRAMS Economic Development Research Group April 1997 MEASURING ECONOMIC IMPACTS OF PROJECTS AND PROGRAMS GLEN WEISBROD, ECONOMIC DEVELOPMENT RESEARCH GROUP BURTON WEISBROD, ECONOMICS DEPT., NORTHWESTERN UNIV.

More information

Ireland and the EU 1973-2003 Economic and Social Change

Ireland and the EU 1973-2003 Economic and Social Change Ireland and the EU 1973-2003 Economic and Social Change Table 1 Population, 1971-2002 viii Table 2 Population of the provinces ix Table 3 Births, deaths and life expectancy ix Table 4 Numbers in education

More information

The Economic Impact of the Health Sector on the Economy of Dallas County, Iowa a. Daniel Otto and Georgeanne Artz b

The Economic Impact of the Health Sector on the Economy of Dallas County, Iowa a. Daniel Otto and Georgeanne Artz b The Economic Impact of the Health Sector on the Economy of Dallas County, Iowa a Daniel Otto and Georgeanne Artz b The importance of medical and health facilities as community service providers is well

More information

VII. DIRECT, INDIRECT, AND INDUCED ECONOMIC IMPACTS OF UC SAN DIEGO

VII. DIRECT, INDIRECT, AND INDUCED ECONOMIC IMPACTS OF UC SAN DIEGO VII. DIRECT, INDIRECT, AND INDUCED ECONOMIC IMPACTS OF UC SAN DIEGO THE CONCEPT OF INDIRECT AND INDUCED ECONOMIC IMPACTS The impact of UC San Diego on the local, regional, and state economies is greater

More information

COMMODITY PRICES AND THE TERMS OF TRADE

COMMODITY PRICES AND THE TERMS OF TRADE COMMODITY PRICES AND THE TERMS OF TRADE Introduction The global economic upswing since 2003 has spurred a sharp increase in world prices for resource commodities. Higher prices from recent contract negotiations

More information

A Private-Public and Social Partnership to Change Water and Sanitation Management Models

A Private-Public and Social Partnership to Change Water and Sanitation Management Models Public Disclosure Authorized 33068 Public Disclosure Authorized Public Disclosure Authorized The Small Town Pilot Project in Peru A Private-Public and Social Partnership to Change Water and Sanitation

More information

Salavanh Province SAL/PR/04: Sustainable Livestock Health Management System for Salavanh Province

Salavanh Province SAL/PR/04: Sustainable Livestock Health Management System for Salavanh Province Salavanh Province SAL/PR/04: Sustainable Livestock Health Management System for Salavanh Province Subproject Name Country Province Subproject code Number Subproject type Source of Funding/Amount ADB and

More information

Regional Economic Impact Analysis

Regional Economic Impact Analysis Section III: Applying Knowledge Regional Economic Impact Analysis Summary In this activity, teachers present a lecture related to assessing regional economic impacts and students use this knowledge to

More information

The Macroeconomic Situation and Monetary Policy in Russia. Ladies and Gentlemen,

The Macroeconomic Situation and Monetary Policy in Russia. Ladies and Gentlemen, The Money and Banking Conference Monetary Policy under Uncertainty Dr. Sergey Ignatiev Chairman of the Bank of Russia (The 4 th of June 2007, Central Bank of Argentina, Buenos Aires) The Macroeconomic

More information

An Economic Impact Analysis.

An Economic Impact Analysis. Briefing August 2013 Making Dollars and Sense of Canada s Mutual Fund Industry An Economic Impact Analysis. At a Glance Canada s mutual fund industry directly created $5.8 billion in real GDP in 2012 on

More information

Estimation of Disaster Impact on Personal I ncome IIncome a nd and and Poverty Application of the DaLA Methodology J Roberto J Robe rto J ve v l

Estimation of Disaster Impact on Personal I ncome IIncome a nd and and Poverty Application of the DaLA Methodology J Roberto J Robe rto J ve v l Estimation of Disaster Impact on Personal Income and Poverty Application of the DaLA Methodology J. Roberto Jovel PLS308 Damage, Loss and Needs Assessment Impact on Personal Income and Poverty 1 Disasters

More information

EXECUTIVE SUMMARY. Where Value Meets Values: The Economic Impact of Community Colleges

EXECUTIVE SUMMARY. Where Value Meets Values: The Economic Impact of Community Colleges EXECUTIVE SUMMARY Where Value Meets Values: The Economic Impact of Community Colleges ANALYSIS OF THE ECONOMIC IMPACT & RETURN ON INVESTMENT OF EDUCATION FEBRUARY 2014 EXECUTIVE SUMMARY America s community

More information

Presented by D. R. Khanal Chairman Institute for Policy Research and Development (IPRAD)

Presented by D. R. Khanal Chairman Institute for Policy Research and Development (IPRAD) Work in Progress Construction of GTAP Compatible Input Output (I/O) Table and Social Accounting Matrix (SAM) with Limited Data Base : Nepalese Experience Presented by D. R. Khanal Chairman Institute for

More information

LIST OF MAJOR LEADING & LAGGING ECONOMIC INDICATORS

LIST OF MAJOR LEADING & LAGGING ECONOMIC INDICATORS APRIL 2014 LIST OF MAJOR LEADING & LAGGING ECONOMIC INDICATORS Most economists talk about where the economy is headed it s what they do. Paying attention to economic indicators can give you an idea of

More information

The Insurance Industry in Antigua and Barbuda, Key Trends and Opportunities to 2017

The Insurance Industry in Antigua and Barbuda, Key Trends and Opportunities to 2017 The Insurance Industry in Antigua and Barbuda, Key Trends and Opportunities to 2017 Market Intelligence Report Reference code: IS0276MR Published: May 2013 www.timetric.com Timetric John Carpenter House

More information

SHORT-TERM ECONOMIC INDICATORS AT BANCO DE MEXICO. June 2002

SHORT-TERM ECONOMIC INDICATORS AT BANCO DE MEXICO. June 2002 SHORT-TERM ECONOMIC INDICATORS AT BANCO DE MEXICO June 2002 I. Summary Banco de México generates a set of short-term economic indicators that has proved to be useful in assessing the current business cycle

More information

THE ECONOMIC IMPACT OF AEROSPACE AND DEFENSE FIRMS ON THE STATE OF ARIZONA

THE ECONOMIC IMPACT OF AEROSPACE AND DEFENSE FIRMS ON THE STATE OF ARIZONA THE ECONOMIC IMPACT OF AEROSPACE AND DEFENSE FIRMS ON THE STATE OF ARIZONA Final Report September 2010 L. William Seidman Research Institute W. P. Carey School of Business Arizona State University Tempe,

More information

FINANCIAL INCLUSION INDICATORS FOR DEVELOPING COUNTRIES: The Peruvian Case

FINANCIAL INCLUSION INDICATORS FOR DEVELOPING COUNTRIES: The Peruvian Case FINANCIAL INCLUSION INDICATORS FOR DEVELOPING COUNTRIES: The Peruvian Case Mrs. Giovanna Priale Reyes Head of the Office of Products and Services to the Consumer gpriale@sbs.gob.pe Superintendency of Banking,

More information

The Economic Impact of the New Hospital on the Economy of Drumright, Creek County, Oklahoma

The Economic Impact of the New Hospital on the Economy of Drumright, Creek County, Oklahoma The Economic Impact of the New Hospital on the Economy of Drumright, Creek County, Oklahoma Drumright Creek County Oklahoma Cooperative Extension Service Oklahoma Office of Rural Health Rural Health Policy

More information

Reference: Gregory Mankiw s Principles of Macroeconomics, 2 nd edition, Chapters 10 and 11. Gross Domestic Product

Reference: Gregory Mankiw s Principles of Macroeconomics, 2 nd edition, Chapters 10 and 11. Gross Domestic Product Macroeconomics Topic 1: Define and calculate GDP. Understand the difference between real and nominal variables (e.g., GDP, wages, interest rates) and know how to construct a price index. Reference: Gregory

More information

CURRENT ACCOUNT: THE REGIONAL DEVELOPMENTS AND TRENDS

CURRENT ACCOUNT: THE REGIONAL DEVELOPMENTS AND TRENDS CURRENT ACCOUNT: THE REGIONAL DEVELOPMENTS AND TRENDS Prepared by Armenuhi Burnazyan and Arevik Aleksanyan In our project we tried to analyze Current Account (CA) balance trends for Armenia, Georgia and

More information

Public Information Notice (PIN) No. 01/94 FOR IMMEDIATE RELEASE September 19, 2001 International Monetary Fund 700 19 th Street, NW Washington, D. C. 20431 USA IMF Concludes 2001 Article IV Consultation

More information

KING COLLEGE SCHOOL OF BUSINESS KING COLLEGE REGIONAL ECONOMIC STUDIES (KCRES) KCRES PAPER NO. 4, May 2012

KING COLLEGE SCHOOL OF BUSINESS KING COLLEGE REGIONAL ECONOMIC STUDIES (KCRES) KCRES PAPER NO. 4, May 2012 KING COLLEGE SCHOOL OF BUSINESS KING COLLEGE REGIONAL ECONOMIC STUDIES (KCRES) KCRES PAPER NO. 4, May 2012 Economic Impact Multipliers for the Coalfield Region of Southwestern Virginia The Coalfield Region

More information

National Heavy Duty Truck Transportation Efficiency Macroeconomic Impact Analysis

National Heavy Duty Truck Transportation Efficiency Macroeconomic Impact Analysis National Heavy Duty Truck Transportation Efficiency Macroeconomic Impact Analysis Prepared for the: Union of Concerned Scientists 2397 Shattuck Ave., Suite 203 Berkeley, CA 94704 Prepared by: Marshall

More information

FEDERAL RESERVE BULLETIN

FEDERAL RESERVE BULLETIN FEDERAL RESERVE BULLETIN VOLUME 38 May 1952 NUMBER 5 Business expenditures for new plant and equipment and for inventory reached a new record level in 1951 together, they exceeded the previous year's total

More information

Principles of Macroeconomics Prof. Yamin Ahmad ECON 202 Fall 2004

Principles of Macroeconomics Prof. Yamin Ahmad ECON 202 Fall 2004 Principles of Macroeconomics Prof. Yamin Ahmad ECON 202 Fall 2004 Sample Final Exam Name Id # Part B Instructions: Please answer in the space provided and circle your answer on the question paper as well.

More information

In 2012, GNP in constant prices increased by 1.8% compared with 2011.

In 2012, GNP in constant prices increased by 1.8% compared with 2011. 8 Economy In 2012, GNP in constant prices increased by 1.8% compared with 2011. The building and construction sector fell by 7.7% in value added terms in 2012 compared to 2011. Manufacturing industry decreased

More information

Macroeconomics Instructor: Jen Dinsmore Hanson Homework Assignment Chapter 9. Multiple Choice Questions

Macroeconomics Instructor: Jen Dinsmore Hanson Homework Assignment Chapter 9. Multiple Choice Questions Macroeconomics Instructor: Jen Dinsmore Hanson Homework Assignment Chapter 9 Multiple Choice Questions 1. Net domestic product is usually preferred to GDP by economists because net national product A.

More information

Saskatchewan Small Business Profile 2015

Saskatchewan Small Business Profile 2015 Saskatchewan Small Business Profile 2015 October 2015 Ministry of the Economy Performance and Strategic Initiatives Division economy.gov.sk.ca Table of Contents INTRODUCTION... 1 KEY FACTS... 3 1. SMALL

More information

HUMAN SETTLEMENT DEVELOPMENT Vol. IV - The Five Cities of Buenos Aires: poverty and Inequality in Urban Argentina - Michael Cohen, Darío Debowicz

HUMAN SETTLEMENT DEVELOPMENT Vol. IV - The Five Cities of Buenos Aires: poverty and Inequality in Urban Argentina - Michael Cohen, Darío Debowicz THE FIVE CITIES OF BUENOS AIRES: POVERTY AND INEQUALITY IN URBAN ARGENTINA Michael Cohen Director, Graduate Program in International Affairs, New School University, New York, USA Darío Debowicz Economist,

More information

On March 11, 2010, President Barack

On March 11, 2010, President Barack U.S. Department of Commerce International Trade Administration Introduction Exports Support American Jobs Updated measure will quantify progress as global economy recovers. On March 11, 21, President Barack

More information

The Economic Impact of Texas State University

The Economic Impact of Texas State University The Economic Impact of Texas State University James P. LeSage 1 Fields Endowed Chair for Urban and Regional Economics McCoy College of Business Administration Department of Finance and Economics Texas

More information

Economic Contributions of Pacific Gas and Electric Company

Economic Contributions of Pacific Gas and Electric Company Economic Contributions of Pacific Gas and Electric Company February 2014 Prepared for: Pacific Gas and Electric Company 77 Beale Street San Francisco, CA 94105 www.pge.com Prepared by: 400 Capitol Mall,

More information

The impact on the UK economy of a reduction in fuel duty

The impact on the UK economy of a reduction in fuel duty The impact on the UK economy of a reduction in fuel duty Report for Fair Fuel UK March 2012 Centre for Economics and Business Research Ltd. Unit 1, 4 Bath Street, London EC1V 9DX t: 020 7324 2850 f: 020

More information

The direct economic impact of gold

The direct economic impact of gold www.pwc.co.uk The direct economic impact of gold October 2013 www.pwc.co.uk The work carried out by PricewaterhouseCoopers LLP ("PwC") in relation to this report has been carried out only for the World

More information

The Evolving External Orientation of Manufacturing: A Profile of Four Countries

The Evolving External Orientation of Manufacturing: A Profile of Four Countries The Evolving External Orientation of Manufacturing: A Profile of Four Countries José Campa and Linda S. Goldberg Changes in exchange rates, shifts in trade policy, and other international developments

More information

Advanced Financial Management

Advanced Financial Management Progress Test 2 Advanced Financial Management P4AFM-PT2-Z14-A Answers & Marking Scheme 2014 DeVry/Becker Educational Development Corp. Tutorial note: the answers below are more comprehensive than would

More information

Economics 212 Principles of Macroeconomics Study Guide. David L. Kelly

Economics 212 Principles of Macroeconomics Study Guide. David L. Kelly Economics 212 Principles of Macroeconomics Study Guide David L. Kelly Department of Economics University of Miami Box 248126 Coral Gables, FL 33134 dkelly@miami.edu First Version: Spring, 2006 Current

More information

Agricultural Catastrophic Insurance for Poor Farmers in Perú. Lourdes del Carpio Manager, Agricultural Insurance Rio de Janeiro, November 2011

Agricultural Catastrophic Insurance for Poor Farmers in Perú. Lourdes del Carpio Manager, Agricultural Insurance Rio de Janeiro, November 2011 Agricultural Catastrophic Insurance for Poor Farmers in Perú Lourdes del Carpio Manager, Agricultural Insurance p g, g Rio de Janeiro, November 2011 La Positiva Seguros Who we are? La Positiva Seguros

More information

PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING

PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING 988-89 TO 998-99 Prepared for THE COLORADO SCHOOL FINANCE PROJECT Colorado Association of School Boards Colorado Association of School Executives Colorado

More information

May 2015. The economic impact of the UK Maritime Services Sector: Business Services

May 2015. The economic impact of the UK Maritime Services Sector: Business Services May 2015 The economic impact of the UK Maritime Services Sector: Business Services Contents 1 Executive summary... 2 2 Introduction... 4 2.1 The channels of economic impact... 4 2.2 Report structure...

More information

The Credit Card Report May 4 The Credit Card Report May 4 Contents Visa makes no representations or warranties about the accuracy or suitability of the information or advice provided. You use the information

More information

The National Accounts and the Public Sector by Casey B. Mulligan Fall 2010

The National Accounts and the Public Sector by Casey B. Mulligan Fall 2010 The National Accounts and the Public Sector by Casey B. Mulligan Fall 2010 Factors of production help interpret the national accounts. The factors are broadly classified as labor or (real) capital. The

More information

Unemployment: Causes and its Economics Outcomes during Recent Years in Afghanistan

Unemployment: Causes and its Economics Outcomes during Recent Years in Afghanistan Unemployment: Causes and its Economics Outcomes during Recent Years in Afghanistan Summary, Conclusion and Recommendations The objective of the paper is to study the current situation of labor market in

More information

IMF Statistical Forum Measuring Material Conditions of Households. Krislert Samphantharak November 20, 2015 Frankfurt, Germany

IMF Statistical Forum Measuring Material Conditions of Households. Krislert Samphantharak November 20, 2015 Frankfurt, Germany IMF Statistical Forum Measuring Material Conditions of Households Krislert Samphantharak November 20, 2015 Frankfurt, Germany Introduction Need to understand the distribution of individual s wellbeing

More information

Lecture 3: National Income Accounting Reference - Chapter 5. 3) The Income Approach

Lecture 3: National Income Accounting Reference - Chapter 5. 3) The Income Approach Lecture 3: National Income Accounting Reference - Chapter 5 3) The Income Approach The income approach defines GDP in terms of the income derived or created from producing final goods and services. Net

More information

There are 6 base years in China GDP estimation history. The base year of 1952-1956

There are 6 base years in China GDP estimation history. The base year of 1952-1956 Improvement in Real GDP Estimation by Production Approach Zhang Dongyou 1. Summarize As GDP estimation at current price, production approach for China GDP estimation at constant price which based on National

More information

Gross Domestic Product Province of Buenos Aires

Gross Domestic Product Province of Buenos Aires Gross Domestic Product Province of Buenos Aires This report describes the preliminary results for 2011. November 15, 2012 Ministry of Economy Under-secretariat of Economic Coordination Provincial Office

More information

Alberta Economic Multipliers

Alberta Economic Multipliers Alberta Economic Multipliers 2011 Representations and Warranties Government of Alberta, 2015 The information contained in this publication is based on the 2011 Input tables produced by Statistics Canada.

More information

DRAFT. 1. The statistical indicators to measure the impact of the mining industry on the economy:

DRAFT. 1. The statistical indicators to measure the impact of the mining industry on the economy: DRAFT 1. The statistical indicators to measure the impact of the mining industry on the economy: = Must have indicators (high priority) by green or ** asterisks = Good to have indicators (medium priority)

More information

We can look at agricultural data in two general groups:

We can look at agricultural data in two general groups: The agricultural statistics series will be based on the Global Strategy to Improve Agricultural and Rural Statistics that is located in the resource section and available from the Wikipedia web page (wiki.asfoc.ibge.gov.br).

More information

Public Opinions, Attitudes and Awareness Regarding Water in Colorado

Public Opinions, Attitudes and Awareness Regarding Water in Colorado Public Opinions, Attitudes and Awareness Regarding Water in Colorado Colorado Water Conservation Board FINAL REPORT Final Report July 22, 2013 Public Opinions, Attitudes and Awareness Regarding Water in

More information

Compiling the Gross Domestic Product: The Myanmar Experience

Compiling the Gross Domestic Product: The Myanmar Experience Compiling the Gross Domestic Product: The Myanmar Experience by Ministry of National Planning and Economic Development The views expressed in this document are of the author(s) and do not necessarily reflect

More information

ECONOMIC GROWTH* Chapter. Key Concepts

ECONOMIC GROWTH* Chapter. Key Concepts Chapter 5 MEASURING GDP AND ECONOMIC GROWTH* Key Concepts Gross Domestic Product Gross domestic product, GDP, is the market value of all the final goods and services produced within in a country in a given

More information

Addressing the social impact of mining activities on communities for sustainability

Addressing the social impact of mining activities on communities for sustainability Addressing the social impact of mining activities on communities for sustainability John-Mark Kilian, Director Umsizi Sustainable Social Solutions (Pty) Ltd, johnmark@umsizi.co.za It is very important

More information

Global Urbanization: Trends, Patterns, Determinants, and Impacts. Abdullah Baqui, DrPH, MPH, MBBS Johns Hopkins University

Global Urbanization: Trends, Patterns, Determinants, and Impacts. Abdullah Baqui, DrPH, MPH, MBBS Johns Hopkins University This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike License. Your use of this material constitutes acceptance of that license and the conditions of use of materials on this

More information

SUMMARY OF ECONOMIC IMPACT ANALYSIS AND IMPACT REVIEW

SUMMARY OF ECONOMIC IMPACT ANALYSIS AND IMPACT REVIEW SUMMARY OF ECONOMIC IMPACT ANALYSIS AND IMPACT REVIEW The Governor s Office of Economic Development ( GOED ) uses IMPLAN for economic modeling of new and expanding businesses applying for incentives administered

More information

Personal Retirement Accounts and Saving Emma Aguila. Web Appendix (Not for Publication)

Personal Retirement Accounts and Saving Emma Aguila. Web Appendix (Not for Publication) Personal Retirement Accounts and Saving Emma Aguila Web Appendix (Not for Publication) Social Security Reform: Social Security Wealth The present value of social security benefits is computed under the

More information

Economic Watch Mexico

Economic Watch Mexico Economic Watch Mexico Economic Analysis Mexico Arnulfo Rodríguez arnulfo.rodriguez@bbva.com Alma Martínez ag.martinez2@bbva.com Mexican manufacturing exports gained competitiveness in - * During the -

More information

Investment opportunities in Andean Region of Peru

Investment opportunities in Andean Region of Peru PERU-QATAR January 2013 Investment opportunities in Andean Region of Peru Sierra Exportadora 1 Peru s investment climate has been changing in a very positive way Greater social inclusion and poverty reduction.

More information

Rural America At A Glance

Rural America At A Glance United States Department of Agriculture Rural America At A Glance 2014 Edition Overview While the U.S. economy is now in its sixth year of recovery from the Great Recession of 2007-09, its performance

More information

Assessment Schedule 2014 Economics: Demonstrate understanding of macro-economic influences on the New Zealand economy (91403)

Assessment Schedule 2014 Economics: Demonstrate understanding of macro-economic influences on the New Zealand economy (91403) NCEA Level 3 Economics (91403) 2014 page 1 of 10 Assessment Schedule 2014 Economics: Demonstrate understanding of macro-economic influences on the New Zealand economy (91403) Assessment criteria with Merit

More information

CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE CBO. The Distribution of Household Income and Federal Taxes, 2008 and 2009

CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE CBO. The Distribution of Household Income and Federal Taxes, 2008 and 2009 CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE Percent 70 The Distribution of Household Income and Federal Taxes, 2008 and 2009 60 50 Before-Tax Income Federal Taxes Top 1 Percent 40 30 20 81st

More information

The economic impacts of the UK sea fishing and fish processing sectors: An input-output analysis

The economic impacts of the UK sea fishing and fish processing sectors: An input-output analysis The economic impacts of the UK sea fishing and fish processing sectors: An input-output analysis The economic impacts of the UK sea fishing and fish processing sectors: An input-output analysis The contents

More information

ECONOMIC ANALYSIS (Republic of the Marshall Islands: Public Sector Program)

ECONOMIC ANALYSIS (Republic of the Marshall Islands: Public Sector Program) Public Sector Program (RRP RMI 43321-1) A. Summary ECONOMIC ANALYSIS (Republic of the Marshall Islands: Public Sector Program) 1. The Republic of the Marshall Islands (RMI) gross domestic product (GDP)

More information

ANNEX 1 - MACROECONOMIC IMPLICATIONS FOR ITALY OF ACHIEVING COMPLIANCE WITH THE DEBT RULE UNDER TWO DIFFERENT SCENARIOS

ANNEX 1 - MACROECONOMIC IMPLICATIONS FOR ITALY OF ACHIEVING COMPLIANCE WITH THE DEBT RULE UNDER TWO DIFFERENT SCENARIOS ANNEX 1 - MACROECONOMIC IMPLICATIONS FOR ITALY OF ACHIEVING COMPLIANCE WITH THE DEBT RULE UNDER TWO DIFFERENT SCENARIOS The aim of this note is first to illustrate the impact of a fiscal adjustment aimed

More information

PAYMENT SYSTEMS FOR LOW INCOME URBAN COMMUNITIES IN LUSAKA, ZAMBIA Case Study A - Monthly payment card system

PAYMENT SYSTEMS FOR LOW INCOME URBAN COMMUNITIES IN LUSAKA, ZAMBIA Case Study A - Monthly payment card system PAYMENT SYSTEMS FOR LOW INCOME URBAN COMMUNITIES IN LUSAKA, ZAMBIA Case Study A - Monthly payment card system The Practice The monthly card payment system used in Chipata compound, in Lusaka for the collection

More information

THE ECONOMIC IMPACTS OF THE PORTS OF LOUISIANA AND THE MARITIME INDUSTRY

THE ECONOMIC IMPACTS OF THE PORTS OF LOUISIANA AND THE MARITIME INDUSTRY THE ECONOMIC IMPACTS OF THE PORTS OF LOUISIANA AND THE MARITIME INDUSTRY Prepared by: TIMOTHY P. RYAN UNIVERSITY OF NEW ORLEANS February, 2001 EXECUTIVE SUMMARY The ports of Louisiana and the maritime

More information

The Economic Impact of Technical College System of Georgia Institutions on their Service Delivery Areas Economies in FY 2012

The Economic Impact of Technical College System of Georgia Institutions on their Service Delivery Areas Economies in FY 2012 The Economic Impact of Technical College System of Georgia Institutions on their Service Delivery Areas Economies in FY 2012 January 2014 A Study Commissioned by The Technical College System of Georgia

More information

11th International Conference on Urban Drainage, Edinburgh, Scotland, UK, 2008 communities where livelihoods are more vulnerable with virtually all the members of the community suffering because of food

More information

Over the last 10 years, the value of stocks held

Over the last 10 years, the value of stocks held Peter B. Nelson Quality of Life, Nontraditional Income, and Economic Growth New Development Opportunities for the Rural West Areas with high levels of natural amenities have enjoyed growing populations

More information

S.Y.B.COM. (SEM-III) ECONOMICS

S.Y.B.COM. (SEM-III) ECONOMICS Fill in the Blanks. Module 1 S.Y.B.COM. (SEM-III) ECONOMICS 1. The continuous flow of money and goods and services between firms and households is called the Circular Flow. 2. Saving constitute a leakage

More information

Estimating the Effects of Spending

Estimating the Effects of Spending Economic Impacts of Protecting Rivers, Trails, and Greenway Corridors Estimating the Effects of Spending Contents Page Direct, Indirect, and Induced Effects 6-3 Multipliers 6-5 Economic Impact Models 6-7

More information

Thinking globally and acting locally: HP community investment and involvement in Latin America

Thinking globally and acting locally: HP community investment and involvement in Latin America Thinking globally and acting locally: HP community investment and involvement in Latin America For HP, global citizenship is a long-standing corporate objective. We take responsibility for making a positive

More information

Personal debt ON LABOUR AND INCOME

Personal debt ON LABOUR AND INCOME ON LABOUR AND INCOME Personal debt Although the economy and population are almost times the size of s, the two countries show several similarities. Both have relatively high per-capita income and living

More information

Chapter 12. Aggregate Expenditure and Output in the Short Run

Chapter 12. Aggregate Expenditure and Output in the Short Run Chapter 12. Aggregate Expenditure and Output in the Short Run Instructor: JINKOOK LEE Department of Economics / Texas A&M University ECON 203 502 Principles of Macroeconomics Aggregate Expenditure (AE)

More information

Measuring Women Status And Gender Statistics in Cambodia Through the Surveys and Census

Measuring Women Status And Gender Statistics in Cambodia Through the Surveys and Census Global Forum on Gender Statistics 27 29 March 2012, Dead Sea, Jordan Measuring Women Status And Gender Statistics in Cambodia Through the Surveys and Census By Mrs. Hang Lina, Deputy Director General National

More information

Progress report: Artisanal and Small-scale Mining over the last 10 years. Presented by Assheton Stewart Carter SVP Global Engagement Pact

Progress report: Artisanal and Small-scale Mining over the last 10 years. Presented by Assheton Stewart Carter SVP Global Engagement Pact Progress report: Artisanal and Small-scale Mining over the last 10 years Presented by Assheton Stewart Carter SVP Global Engagement Pact Objectives To give a sense of where progress has been made in the

More information

The Return of Saving

The Return of Saving Martin Feldstein the u.s. savings rate and the global economy The savings rate of American households has been declining for more than a decade and recently turned negative. This decrease has dramatically

More information

The Economic Contribution of Copyright-Based Industries in Australia

The Economic Contribution of Copyright-Based Industries in Australia The Economic Contribution of Copyright-Based Industries in Australia 3 Prepared for the Australian Copyright Council by Price Waterhouse Coopers Contents Key findings 3 Introduction 7 1 Value added by

More information

DEPARTMENT OF MINERAL RESOURCES

DEPARTMENT OF MINERAL RESOURCES DEPARTMENT OF MINERAL RESOURCES MINERALS POLICY HANDBOOK DEPARTMENT OF MINERAL RESOURCES PRIVATE MAIL BAG PORT MORESBY POST OFFICE PORT MORESBY NCD PAPUA NEW GUINEA DEPARTMENT OF MINERAL RESOURCES MINERALS

More information

MN Lake Superior Watershed Stream Science Symposium: Economic Aspects of Stream Restoration Henry Eichman USDA Forest Service, TEAMS Enterprise Unit

MN Lake Superior Watershed Stream Science Symposium: Economic Aspects of Stream Restoration Henry Eichman USDA Forest Service, TEAMS Enterprise Unit MN Lake Superior Watershed Stream Science Symposium: Economic Aspects of Stream Restoration Henry Eichman USDA Forest Service, TEAMS Enterprise Unit Non market values, Ecosystem Services Economic Objectives

More information

GOVERNMENT EXPENDITURE & REVENUE SCOTLAND 2013-14 MARCH 2015

GOVERNMENT EXPENDITURE & REVENUE SCOTLAND 2013-14 MARCH 2015 GOVERNMENT EXPENDITURE & REVENUE SCOTLAND 2013-14 MARCH 2015 GOVERNMENT EXPENDITURE & REVENUE SCOTLAND 2013-14 MARCH 2015 The Scottish Government, Edinburgh 2015 Crown copyright 2015 This publication is

More information

Jobs and Growth Effects of Tax Rate Reductions in Ohio

Jobs and Growth Effects of Tax Rate Reductions in Ohio Jobs and Growth Effects of Tax Rate Reductions in Ohio BY ALEX BRILL May 2014 This report was sponsored by American Freedom Builders, Inc., a 501(c)4 organization. The author is solely responsible for

More information

Growth of the Service Sector

Growth of the Service Sector 9 Growth of the Service Sector What are the economic reasons behind industrialization and postindustrialization? Everything that grows also changes its structure. Just as a growing tree constantly changes

More information