History

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The theory of democracy is commonly thought to date back at least to ancient Greek times - but it has

overcomed a series of historical events that transformed it, giving it a more complete definition and

becoming the dominant form of political organisation during the 20th century.The word "democracy"

comes from the Greek words demos (meaning people) and kratos (meaning rule). By putting these twoOrder Custom history paper

words together it can be derived that democracy means "government by the people".In ademocratic

systems citizens elect officials to structure political decisions, formulate laws, and administer

programs for the public good. In the name of the people, such officials can deliberate on complex

public issues in a thoughtful and systematic manner that requires an investment of time and energy

that is often impractical for the vast majority of private citizens.In the dictionary definition,

democracy is defined as "government in which the poeple hold the ruling power either directly or

through elected representatives; rule by the ruled " ( Guralnik and Neufeldt, 366).By far, amidst

numerous definitions and interpretations regarding democracy, President Lincoln has given us

perhaps the best-known definition of democracy in American history. By "government of

the people, by the people, and for the people," he meant, the essentials of democratic

government are applicable to all nations that aspire to a democratic society.

Protecting minority rights: If by "democracy" we mean rule by the majority, then one of the

great problems in a democracy is how minorities are treated. By "minorities" we do not mean

people who voted against the winning party, but rather those who are indelibly different from the

majority by reasons of race, religion, or ethnicity. In the United States, the great problem has been

that of race; it took a bloody civil war to free black slaves, and then another century before people

of color could count on free exercise of their constitutional rights. The problem of racial equality

is one that the United States is still wrestling with today. But this is part of the evolutionary

nature of democracy, the drive to become more inclusive and to grant to those who are different

from the majority not only protection against persecution but the opportunity to participate as full

and equal citizens. Examples of nations treating their minorities in a bloody and horrible manner

are numerous, and the Nazi Holocaust against the Jews is only the most vivid illustration. But no

society can aspire to call itself democratic if it systematically excludes specific groups from the full

protection of the laws.

By Melvin I. Urofsky

"...that government of the people, by the people, and for the people, shall not

vanish from this earth."

-- President Abraham Lincoln

Gettysburg Address, 1863

Speaking at the dedication of a national cemetery at Gettysburg in the midst of a great

civil war fought to preserve the United States as a country, President Lincoln gave us in his

ringing conclusion perhaps the best-known definition of democracy in American history. By

"government of the people, by the people, and for the people," he meant, the essentials of

democratic government he so well described are applicable to all nations that aspire to a

democratic society.

Democracy is hard, perhaps the most complex and difficult of all forms of government. It is

filled with tensions and contradictions, and requires that its members labor diligently to

make it work. Democracy is not designed for efficiency, but for accountability; a

democratic government may not be able to act as quickly as a dictatorship, but once

committed to a course of action it can draw upon deep wellsprings of popular support.

Democracy, certainly in its American form, is never a finished product, but is always

evolving. The outer forms of government in the United States have altered little in two

centuries, but once we look past the surface we discover great changes. Yet, most

Americans believe -- and rightly so -- that the basic principles underlying their government

derive directly from notions first enunciated by the framers of the Constitution in 1787.

In these papers, we have tried to explicate what some of those principles are, indicating a

little of their historical development and explaining why they are important to the workings

of government in the United States in particular as well as democracy in general. Because

any democracy is an evolving system, the papers also indicate some shortcomings of the

U.S. governmental system, and how the nation has tried to address those problems. No

one claims that the American model, as successful as it has been for the United States, is

the model that all democracies should follow. Each nation must fashion a government out

of its own culture and history. But these essays do identify fundamental principles that, in

one form or another, must be present in all democracies. The exact manner in which laws

are made, for example, can vary widely, but no matter what the forms, they must obey

the root principle that the citizenry has to be involved in the process and feel ownership of

those laws.

What are these root principles? We have identified 11 that we believe are key to

understanding how democracy has evolved and how it operates in the United States.

Constitutionalism: Law-making must take place within certain parameters; there must

be approved methods for laws to be made and to be changed, and certain areas -- namely

the rights of individuals -- must be off limits to the whims of majority rule. A constitution

is a law, but at the same time it is much more than that. It is the organic document of a

government, laying out the powers of the different branches as well as the limits on

governmental authority. A key feature of constitutionalism is that this basic framework

cannot easily be changed because of the wishes of a transient majority. It requires the

consent of the governed expressed in a clear and unambiguous manner. In the United

States, the Constitution has been amended only 27 times since 1787. The framers made

the amendment process difficult but not impossible. Most of the amendments have

extended democracy by enlarging individual rights and wiping away differences based on

race or gender. None of these amendments were lightly undertaken, and when adopted, all

had the support of a great majority of the people.

Democratic Elections: No matter how well designed a government is, it cannot be

considered democratic unless the officials who head that government are freely elected by

the citizens in a manner perceived to be open and fair to all. The mechanism of an election

may vary, but the essentials are the same for all democratic societies: access of all

qualified citizens to the ballot, protection of the individual against undue influence in the

casting of the ballot, and an open and honest counting of the votes. Because large-scale

balloting is always subject to errors and fraud, care must be taken to avoid these as much

as possible, so that if there is a problem or a close election -- as happened in the 2000

presidential election in the United States -- the people will understand that despite the

difficulty, the results can still be accepted as binding upon them.

Federalism, State and Local Governments: The United States is unique in its federal

system of government, in which power and authority are shared and exercised by national,

state, and local governments. But if the model is not suited to other nations, there are still

lessons to be learned. The further government is from the people, the less effective it is

and the less it is trusted. By having local and state governments, Americans can see some

of their elected officials up close. They can tie policies and programs directly to the men

and women who enacted them and who implement them. In addition, decentralization of

authority makes it all that much harder to effect an illegitimate takeover of the

government. The principle that democracies ought to decentralize power and responsibility

may not matter much in a small and relatively homogeneous country, but it can be an

important safeguard in large and heterogeneous nations.

Creation of law: History records that formal laws have been made by mankind for five

millennia, but the methods different societies have used to make the rules under which

they will live have varied enormously, from edicts by god-kings to majority vote at village

meetings. In the United States, law is made at many levels, from local town councils, on

up through state legislatures, to the U.S. Congress. But at all these levels, there is a large

input from the citizenry, either directly or indirectly. Law-making bodies recognize that

they are responsible to their constituents, and if they do not legislate in the people's best

interests, they will face defeat at the next election. The key to democratic law-making is

not the mechanism or even the forum in which it takes place, but the sense of

accountability to the citizenry and the need to recognize the wishes of the people.

An independent judiciary: Alexander Hamilton remarked in The Federalist in 1788-89

that the courts, being without the powers of either sword or purse, would be "the least

dangerous branch" of the government. Yet courts can be very powerful in a democracy,

and in many ways are the operating arm through which constitutional constraints are

interpreted and enforced. In the United States, the courts may declare acts of Congress

and of state legislatures invalid because they conflict with the Constitution, and may enjoin

presidential actions on similar grounds. The greatest defender of individual rights in the

United States has been the court system; this is made possible because most judges have

life tenure and can focus on legal issues without the distraction of politics. While not all

constitutional courts are the same, there must be a body that has the authority to

determine what the Constitution says, and when different branches of government have

exceeded their powers.

Powers of the presidency: All modern societies must have a chief executive able to

carry out the responsibilities of government, from the simple administration of a program

to directing the armed forces to defending the nation in wartime. But a fine line must be

drawn between giving the executive sufficient powers to do the job and, at the same time,

limiting that authority to prevent a dictatorship. In the United States, the Constitution has

drawn clear lines around the powers of the president, and while the office is one of the

strongest in the world, its strength derives from consent of the governed and the ability of

the occupant of the White House to work well with the other branches of government. Here

again, the actual organization of the chief executive's office is not the issue, but rather the

constraints imposed upon that office by such principles as "separation of powers." In a

democracy, a president must rule through his or her political skills, establishing a

framework of cooperation with the legislature and above all with the people. At the same

time, the citizenry must feel secure that constitutional constraints ensure that the

president or prime minister is always the servant, and not the master, of the people.

Role of a free media: Closely tied to the public's right to know are a free media --

newspapers, radio and television networks -- that can investigate the workings of

government and report on them without fear of prosecution. English common law made

any criticism of the king (and by extension the entire government) a crime known as

seditious libel. The United States eventually did away with this crime, and in its place

created a theory of the press that has served democracy well. In a complex state, the

individual citizen may not be able to leave work to go watch trials, sit in on legislative

debates, or investigate how a government program works. But the press is the surrogate

of the citizen, reporting back through print and broadcast media what it has found so that

the citizenry can act on that knowledge. In a democracy, the people rely on the press to

ferret out corruption, to expose the maladministration of justice or the inefficient and

ineffective workings of a government body. No country can be free without a free press,

and one sign of any dictatorship is the silencing of the media.

Role of interest groups: In the 18th century, and in fact well into the 19th, law-making

represented primarily a dialogue between the voters and their elected representatives in

Congress or in state and local governments. Because the population was smaller,

governmental programs more limited, and communications simpler, there was no need for

citizens to resort to mediating organizations for assistance in making their views known.

But, in the 20th century, society grew more complex, and the role of government

expanded. Now there are many issues that voters need to speak about, and in order to

make their voices heard on specific matters, citizens create lobby groups, groups

advocating public and private interests, and non-governmental organizations (NGOs)

devoted to single issues. There has been much internal criticism of this aspect of American

democracy, and some people claim that those interests with access to large sums of

money can make their voices better heard than those with fewer resources. There is a

certain truth to that criticism, but the fact of the matter is that there are hundreds of

these groups who help to educate the public and lawmakers about particular matters, and

in doing so they help many individual citizens of ordinary means get their views known to

their lawmakers in a complex age. With the age of the Internet upon us, the number of

voices will increase even more, and these NGOs will help to refine and focus citizen

interest in an effective manner.

Creation of law: History records that formal laws have been made by mankind for five millennia,

but the methods different societies have used to make the rules under which they will live have

varied enormously, from edicts by god-kings to majority vote at village meetings. In the United

States, law is made at many levels, from local town councils, on up through state legislatures, to

the U.S. Congress. But at all these levels, there is a large input from the citizenry, either directly

or indirectly. Law-making bodies recognize that they are responsible to their constituents, and if

they do not legislate in the people's best interests, they will face defeat at the next election. The

key to democratic law-making is not the mechanism or even the forum in which it takes place, but

the sense of accountability to the citizenry and the need to recognize the wishes of the people.

Constitutionalism: Law-making must take place within certain parameters; there must be

approved methods for laws to be made and to be changed, and certain areas -- namely the rights

of individuals -- must be off limits to the whims of majority rule. A constitution is a law, but at the

same time it is much more than that. It is the organic document of a government, laying out the

powers of the different branches as well as the limits on governmental authority. A key feature of

constitutionalism is that this basic framework cannot easily be changed because of the wishes of a

transient majority. It requires the consent of the governed expressed in a clear and unambiguous

manner. In the United States, the Constitution has been amended only 27 times since 1787. The

framers made the amendment process difficult but not impossible. Most of the amendments have

extended democracy by enlarging individual rights and wiping away differences based on race or

gender. None of these amendments were lightly undertaken, and when adopted, all had the

support of a great majority of the people.

"The aim of every political constitution is...first to obtain for rulers, men who

possess most wisdom to discern, and most virtue to pursue the common goal of

society."

-- James Madison

The Federalist, No. 57

Democratic Elections: No matter how well designed a government is, it cannot be considered

democratic unless the officials who head that government are freely elected by the citizens in a

manner perceived to be open and fair to all. The mechanism of an election may vary, but the

essentials are the same for all democratic societies: access of all qualified citizens to the ballot,

protection of the individual against undue influence in the casting of the ballot, and an open and

honest counting of the votes. Because large-scale balloting is always subject to errors and fraud,

care must be taken to avoid these as much as possible, so that if there is a problem or a close

election -- as happened in the 2000 presidential election in the United States -- the people will

understand that despite the difficulty, the results can still be accepted as binding upon them.

By determining peacefully those who shall govern and by bestowing legitimacy on the decisions

they make, elections provide answers to crucial questions faced by any political system. These

goals are more easily achieved when the characteristics of an electoral system encourage a widely

shared perception that elections are both free and fair. Factors encouraging this perception are a

franchise and an access to the ballot that are more inclusive than exclusive; an equality of votes so

that no vote counts more than another; and election outcomes determined by rules established in

advance, with minimal cheating and fraud in the casting and counting of votes. These standards

for free and fair elections have not been static over American political history. Their evolution has

reflected each generation's experience in grappling with the nature of political community, the

latitude of lawful dissent, representation, and electoral structure and administration.

Electoral structures and procedures

Electoral rules and practices may also contribute to, or detract from, a sense that elections are free

and fair. Consider voting impediments, vote counting, and campaign finance regulations.

One conspicuous fact about elections in the United States is the widespread phenomenon of

nonvoting. (Voting in the United States is voluntary, not legally required as it is in some

countries.) Even in high-visibility presidential elections, voter turnout in recent years has hovered

around 50 percent. That is, fully half the eligible voting population (almost all citizens over 17

years of age) does not vote. This rate contrasts with a turnout of about 65 percent -- a

modern-day high -- in the presidential election of 1960. Thus, when President Bill Clinton won

re-election in 1996 with 49 percent of the popular vote in an election in which the turnout was

only 49 percent, he was the choice of slightly less than one quarter of the eligible electorate.

What is responsible for this trend? Factors such as a decline in a sense of civic and community

obligation, voter apathy stemming from a perception that elections do not make a difference in

one's life, and an increase in the percentage of two-wage-earner households may depress turnout

-- as well as the sense in recent national elections that no great issues are at stake in a prosperous

time of peace.

It is also important to keep in mind that voting in the United States entails three different

decisions. Aside from deciding to vote and deciding for whom to vote, the prospective voter must

also have registered to vote. This requirement seems to impede voting because registration rolls

usually close weeks before the election itself. Moreover, because registration is done by state and

within states by counties, and within counties is organized by precincts, persons who have

recently relocated will almost always have to re-register or make sure that their existing

registration has been transferred. So the mobility of the American population suggests that there is

always a certain number of would-be voters who are kept from the polls because of registration

requirements. Whether systems for easier voter registration, as when one applies for or renews a

drivers license (the so-called "motor voter" plan), will improve turnout rates remains unclear.

In the counting of all ballots, legal safeguards have been developed over the years to minimize

error and to assure fairness. This is why the laws of all states provide for recounts in certain

instances and permit the initial apparent loser to contest the election. Otherwise, doubts about the

accuracy of the vote count may undermine public confidence in the integrity of elections and

subtract from the legitimacy of the declared winner. No better example exists than the extended

presidential election of 2000 that highlighted all too clearly problems that can arise in the usually

mundane process of counting votes.

Free and fair elections are essential in assuring the "consent of the governed," the bedrock of

democratic politics. They are at once both power- and legitimacy-conferring instruments, just as

unfair and dishonest elections may cast doubt on one's claim to office and diminish one's ability to

govern.

Few argue that electoral politics in the United States is perfect. Some of its features from time to

time have hindered, deflected, muted, or distorted the people's consent. Yet, for several reasons,

most Americans believe that overall their electoral system is fair and honest. First, with the

noticeable and instructive example of the conflicts leading to the Civil War nearly a century and a

half ago, elections in the United States operate effectively: By determining winners and losers,

they accomplish what elections are designed to do. Defeated candidates and their supporters

willingly, if not cheerfully, defer to the victors and acknowledge their right to rule. This is no

small achievement. Such acceptance presupposes a stable political system where ultimate values

and interests are rarely, if ever, at risk.

Second, the frequency of elections means that no party or faction within a party is guaranteed

permanency in office. Today's majority might be replaced by a much different majority tomorrow.

This is a key point of democratic theory: Majorities are in flux. Third, majorities may be transitory

because the electoral system protects the right to compete. An election without opportunity for

serious opposition is a hoax.

Finally, U.S. elections link voters with officeholders. The latter depend upon a majority of voters

to govern. The people therefore perceive elected officials as their agents, authorized to act on

their behalf. Elections in America have made public officials the servants of the people, rather than

people the servants of the government.

However one measures the progress in democratic politics that the United States has made, other

nations may well choose not to follow the American model in all its particulars. Some features of

electoral politics in the United States persist only as remnants of history. An American nation

getting under way in the 21st century would not select its chief executives through the Electoral

College. It might not choose to retain an equal vote for each state in the Senate. Other features,

such as a guarantee of a free press or popular election of members of Congress, would doubtless

remain. Nonetheless, lessons emerge from America's democratic experience that point to

characteristics that are probably essential to the maintenance of a stable democratic process

elsewhere.

First, access to the vote and the ballot should be widely available, with no vote worth more than

any other vote. To restrict the political community on the basis of gender, political beliefs,

ethnicity, or religion, for instance, undercuts a regime's legitimacy. An inclusive franchise, by

contrast, encourages all elements of a society to perceive a stake in the existing order because

each has a chance eventually to prevail.

Second, encouraging high turnouts of voters in elections should be a priority. Low voting

turnouts should be cause for concern, if not alarm. Not only may they result in election of officials

without the support of a majority of the eligible electorate, but they exaggerate the influence of

well-organized and intensely motivated interests.

Third, a high level of freedom for political speech is crucial to the democratic process. Restricting

lawful dissent not only inhibits electoral politics by stifling opponents, but repression of opinion

may drive dissidents from legitimate channels of political participation into violent means of

protest.

Fourth, elections and the system of representation must enable a majority of the people to control

the government, yet safeguards must be in place to prevent a majority from overwhelming and

destroying a minority. Nonetheless, arrangements that assign undue electoral weight to minority

interests may frustrate a central element of consent of the governed: legislation that efficiently

reflects the will of the majority. Otherwise, minority views displace those of the majority or so

cripple the decision-making process that the government becomes incapable of acting at all.

Fifth, because elections function effectively only if most people perceive them to be free and fair,

procedures must be in place to respond quickly to allegations of voting dishonesty. Without such

remedial devices, electoral politics may quickly be perceived as a fraud.

Finally, free and fair elections may prove difficult to maintain in a society marked by deep

cleavages among a large part of the population over the most vital questions. Sometimes the

health of a political system can be gauged by the issues that do not dominate a campaign and by

the propositions that never appear on any ballot.

"Democratic institutions are never done," observed Woodrow Wilson over a century ago. "They

are like living tissue -- always a-making. It is a strenuous thing, this living of the life of a free

people." Close scrutiny and probable change remain the order of the day. Awareness of the flaws

in an electoral system is as important as appreciation of its virtues.

Bush, Mark E. Does Redistricting Make a Difference? Partisan Representation and Electoral

Behavior (Johns Hopkins University Press, 1993)

Chute, Marchette GaylordThe First Liberty: A History of the Right to Vote in America,

1619-1850 (Button, 1969)

Gillette,William The Right to Vote: Politics and Passage of the Fifteenth Amendment (Johns

Hopkins University Press, 1965)

Huntington,SamuelThe Third Wave: Democratization In The Late Twentieth Century

(University of Oklahoma Press, 1993)

Grofman, Lijphant, eds. Electoral Laws and Their Political Consequences (Agathon Press,

1986)

Keysser, Alexander The Right to Vote: The Contested History of Democracy in the United

States (Basic Books, 2000)

Kirk, Harold PorterA History of Suffrage in the United States (AMS Press, 1971)

Rogers, Donald W.ed. Voting and the Spirit of American Democracy: Essays on the History of

Voting and Voting Rights in America (University of Illinois Press, 1992)

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CITY OF SAN DIEGO ¡V FINAL ANALYSIS

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The City of San Diego is ideally located in Southern California on the Pacific Coast near the U.S.- Mexico border.International trade with Mexico and the Port of San Diego has been major contributing factors to the growth and stability of the economy within this City.In the past, defense contracts made up the majority of the revenues that the city depended on for the budget.However, in recent years the shift has been more toward international trade, high-tech manufacturing and research, professional services and the tourism industry.With this shift in the business focus, San Diego has been one of the few successful cities in California to maintain its revenues, reduce its expenditures and report a somewhat secure financial status. Giving way to part of this success is the fact that San Diego has concentrated on improving its business assistance programs, cutting costs and changing policies to become more business friendly.Due to the success of the business incentive programs, the increase in tourism and the industry shift, San Diego has managed to maintain its revenues and balance its budget.The City follows GASB guidelines and reports its budgetary information accordingly.The mission of San Diego's city council is to provide cost effective accounting, auditing, and fiscal management services to the Mayor, City Council, and City management; to work in partnership with the Mayor, City Council, and City management to help create positive change and assist them in the performance of their mission; to protect the interests of the general public; and to enhance the reputation of San Diego as a fiscally well-managed City.

OVERVIEW

With the diversification of business in this City, the citizens have conformed and created an equally diverse populace.The population of this great city plays a large role in the law-making process.Through the Initiative and Referendum process, citizens of San Diego have the right to have any amendment or proposition brought before the city council as long as they have gathered signatures of at least three percent (%) of the city's registered voters. This process allows the citizens to bypass both State and Local legislators and have an issue of concern put directly on a ballot for voters to either pass or reject. Many of the changes brought before the council do not make it past the city meetings, however some of the requests do make it on the ballot for public election.Many propositions have been passed due to the public feeling the need to pass what they perceived as a protective measure against ¡§big government¡¨; however, they have created a shortfall for the government by limiting the funds available.

Total population of San Diego is 1,76,700, which is a 10% increase from the 10 census.The population growth has made this city the seventh largest in the country and the second largest within the state of California.Due to this increase in population, the city is increase its tax base and maintain its current budget status.The median age of San Diego's population is , with two-thirds less than age 5 and only 10% over 65. Because of the focus on the telecommunications industry, nearly one-third of San Diegos workforce is over the age of 5 and has at least a bachelors degree. Due to the close proximity to Mexico, the Hispanic representation in the community is 5% Hispanic helping to spark the international business contacts.The remaining population ratios are 4% White, 8% African American, and 1% Asian or other.

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Based on available data, more than 6% of San Diegans are currently employed, with the median family income approaching $40,000.Industries in San Diego have shifted from primarily defense in nature to manufacturing, tourism, international trade and agriculture. The telecommunications boom, software and biotech are among San Diegos fastest growing industries.San Diego has become the nations center for wireless industries with the city being dubbed Telecom Valley and a thriving port due to the available waterways in the San Diego area.

The City of San Diego encompasses 4.40 square miles of land giving the city a unique advantage of having room to expand and grow without the image of overcrowding.The majority of the citizens believe the quality of life within the city to be excellent.A total of 7,60 gross acres of land is set aside in Parks and Recreation sites and maintained by the Parks and Recreation Department.A staggering % of the land in San Diego is classified as vacant, allowing for additional growth.The remainder of the land is zoned as 7% for residential; % for public/semi-public; % for commercial/industrial; and 10% for agriculture.

With 7% of the available land deeded as residential and an additional % vacant, the opportunity for growth in the residential market is open to most anyone who would be interested.Housing in San Diego is handled primarily through two departments, The Affordable Housing Task Force and The Redevelopment Agency.The Affordable Housing Task Force consists of 0 members who represent community organizations and planning boards, housing and environmental supporters, charitable organizations, academics, affordable housing developers, realtors, apartment owners, business and labor. The primary responsibility of the Task Force is identifying areas of change that will result in an increase to the Citys affordable housing stock.The Redevelopment Agency of the City of San Diego was created by the City Council in 158 to alleviate conditions of blight in older, urban areas. This Agency is able to use special legal and financial methods to improve economic and physical conditions in selected areas of the City. The Redevelopment Agency obtained this authority through the state of Californias Health and Safety Code (Section 000-et.seq.), also known as the California Community Redevelopment Law. (City of San Diego, 00)

City documents report that the unemployment rate for 000 was at .0 percent, 001 was at .1 percent and the projected rate for 00 was .5 percent.At the Financial Forecast meeting in March 00, the unemployment rate as of January 00 was calculated at 4.4 percent.This is up from the projected numbers of 00 but well below the national and local levels.

San Diego's governmental structure is similar to most every city in the country with the various departments reporting to supervisors of the numerous programs such as Accounting Services, Auditing and Financial Computer Systems.Those supervisors in turn report to the City Auditor and the Comptroller, who answer to the City Council and finally, the Mayor.The citizens also play an important role in the governmental process due to their ability to bypass the legislators and have referendums presented directly to the general public.

BUDGETING

The City of San Diego's budgetary policies conform to Generally Accepted Accounting Principles (GAAP) applicable to governmental units. The accounts of the City are organized on the basis of funds or account groups, each of which is considered a separate accounting entity. The City's Governmental Funds and Expendable Trust and Agency Funds use the modified accrual basis of accounting. Governmental Fund Types are those through which most governmental functions of the City are financed and include the General Fund, Special Revenue Funds, Debt Service Funds, and Capital Project Funds.

The City of San Diego's Annual Fiscal Year 00 Budget incorporates the vision and priorities expressed by the Mayor and the City Council. In addition, the development of the Annual Fiscal Year 00 Budget took into consideration the priorities of each Council Member. Continuous departmental customer surveys and Community Budget Forums, where the City Manager and Council Members discuss the budget with various community groups, are areas where citizen input is implemented.

The City of San Diego's Budget Process begins annually every September.The Financial Management Department develops both the guidelines and the schedule for the budget preparation process.Beginning in October and lasting through December, Financial Management distributes the City Manager's budget policy guidelines to the departments and the Departments submit their base budget requests for review by the Financial Management Department. From December through March, the City Manager presents the initial budget status report to the Mayor and City Council and requests budget priorities and policy direction for the upcoming fiscal year. Citizen input on services and develop priorities is obtained for the City Manager's budget development.In March, the City Manager recommends a program of projects to be funded by Community Development Block Grant funds.Recommendations for funding are presented to the City Council for consideration. The Proposed Budget is finalized and the Financial Management Department prepares the Proposed Budget document.Next, the City Manager submits the Proposed Budget to the Mayor and City Council at the first City Council meeting in May and files a copy with the City Clerk's Office. Public comment is received at this time.The Mayor and City Council adopt the Annual Budget no later than the last City Council meeting in June. City Agency budget proposals are also presented to the Mayor and City Council in June.During July, citizen input is provided through Ordinance, which requires two noticed public hearings, usually held on consecutive days. This gives City officials the legal authority by the Mayor and City Council to expend resources.The Mayor and City Council adopt the Annual Tax Rate Ordinance no later than the last City Council meeting in August.In September the Financial Management Department prepares the Annual Budget and in October, the Annual Budget is printed and distributed

The City Council adopted a balanced budget for Fiscal Year 00 totaling $.1 billion including $7. million for General Fund expenditures, $680. million for Enterprise Fund operations, $88.4 million for Special Revenue Fund operations, $11.0 million for Debt Service and Tax Funds, and $411.4 million for Capital Improvements Program expenditures, with an adjustment for interfund transactions of $16. million.

RESOURCES

Once the budgets are approved and implemented, it is important to monitor the spending focus within the municipality and follow the manner in which they allocate and spend their resources.Financial resources for governmental funds include cash and other assets that it expects to be turned into cash during the normal course of operations. The city's highest source of revenue in recent years has been through the revenue received from Agencies and Private sector sources at 7%.Property and Sales taxes each account for 17% of revenues. Other sources of revenues for the city include Special assessments, other local taxes, licenses and permits, fines and forfeitures, charges for current services, revenues from the use of money and property and other miscellaneous sources.

Under the section ¡§Proposed Annual Budget Fiscal Year 004¡¨ summaries can be found for items such as their capital improvements programs and maintenance assessment. In ¡§Schedule 1 Summary of City Funds¡¨ there is a breakdown of what much of city revenue is spent on including salaries, citywide program expenditures, community and economic development, and development services. Improving the communities of San Diego has been a huge focus of the proposed 004 spending. The City feels that it is vital to restore neighborhoods in order to bring in more residents and a greater sense of pride in the communities. It is an issue of importance that is clearly reflected in the city's budget.

As such the Citizen's Assistance department Citizens Assistance administers the Citywide Route Slip System and Assignment Information Management Tracking System for responses to public inquiries, complaints and service requests directed to the Citys legislative officials and City Manager. This Department also performs ombudsman services, and is responsible for tracking City Council Priorities and providing quarterly updates to the City Council.Since the Citizens Assistance Department now has its own budget, it will explore funding options in order to pursue the consolidation and automation of the Assignment Information Management Tracking System, and the Route Slip Tracking System, which are systems used to respond to inquiries and complaints.Also, in fiscal year 00, the Citizens Assistance Department will begin a new process to transfer the City Council Priorities into a CD-ROM format for a simplified and more widespread transmittal.To allow for the cost of this department some budgetary adjustments were made, such as, a reduction in the supplies and services accounts was made.

The city of San Diego also has a Special Projects department that is composed of several distinct programs with unique responsibilities. The functions of the programs include coordinating citywide special projects, events and volunteer efforts; providing information and services to increase the accessibility of City services to communities; and raising funds to enhance City projects and programs.San Diego has seen it is necessary to have unique departments and programs in order to help the city prosper and grow.

Comparing prior year budgets to the current budget, there were reductions made in the General Fund with a % reduction from the prior year as well as several vacant positions being eliminated in order to save budgeted funds.All other funds remained constant with the prior year's budget and no layoffs had to be scheduled.The city was also able to plan for the additional resources that could be available to San Diego due to SuperBowl XXXVII, scheduled for January 00.Expenditures matched budgeted revenues in the General Fund, Special revenue funds expenditures exceeded budgeted revenues by 47.6 million, Enterprise Funds expenditures exceeded budgeted revenues by .8 million with 168.0 million coming from prior year and 14.4 million coming from reserves.Original budget for Capital Project funds were 411.4 million with actual expenditures reported at 14.1 million.Budgeted Expenditures for Internal Service funds were 10.5 million with the restricted use for purchases of services and products from other internal funds.Interfund transaction adjustments were included for a total of($16.) million.The Interfund transaction account is used to move resources into those funds in need of additional resources to complete the fiscal year.(City of San Diego, 00)

CAPITAL PROJECTS

The capital projects that the municipality participates in can have a dramatic effect on their financial statements and can have a huge impact on the users of those financial statements. Questions that should be answered regarding the Capital Projects information should include

1.Will the projects become long-lived assets?

.What types of long-term debts will the municipality incur in completing the capital project?

.What are the repayment provisions?

In July 00, the City Manager was directed by the City Council to implement a program that would pre-qualify contractors for City public works projects to construct, replace and improve the Citys aging infrastructure. As a result of this directive, the Engineering and Capital Projects Department developed and implemented a Contractor Pre-Qualification Pilot Program.Effective February 1, 00, contractors bidding as a prime contractor for City of San Diego public works projects, which exceed $50,000, must be pre-qualified. In order to become pre-qualified, the Pre-Qualification Questionnaire and required Financial Statements must be submitted for review and scoring. Once pre-qualified, contractors will retain that status for one year following notice of qualification. The type of Financial Statements required depends on the range of projects the contractor is interested in bidding.

Project Range Required Financial Statements

$50K - $1 MillionCompiled Financial Statements

$1,000,001 - $10 MillionReviewed Financial Statements

$10,000,001 and aboveAudited Financial Statements

The process for pre-qualification involved a structured process that must be completed and followed by all contractors interested in completing any projects for the city.They were required to complete and submit the pre-qualification questionnaire, along with appropriate financial statements; city staff was to verify the information submitted in the questionnaire and financial statements, and interviews with the contractors previous clients; the city staff would use standardized rating criteria to evaluate and score the questionnaire and interviews, and will determine the contractors maximum bidding capacity; once pre-qualified, contractors would have one-year eligibility to bid on City projects with an annual renewal of pre-qualification status being required.After the decision has been made that there is a need for the capital projects, a notification is sent out to receive bids on the projects.As stated earlier, if the cost is more than $50,000 a pre-qualification is required of all contractors.The division in need of the project must interview prospective constructors and submit its selections to the City Manager.The construction award phase begins with the purchasing agent for construction bids. As soon as the low bidder has been identified, the project manager requests for City Manager action or City Council action. The contractor provides the City with the appropriate documents and a contract is issued. The Purchasing Agent then sends a Notice to Proceed to the Field Engineering Division of Engineering and Capital Projects and the project is now under their jurisdiction.

Once the contracts are signed, the project now has a cost associated with it and the City is required to record these resources in the Capital Projects fund.

The Capital Projects fund include public improvement projects that encompass building fire stations, libraries, parks and parks buildings, police stations, bikeways, drainage, streetlights, traffic signals, street improvements, and water and sewer facilities. The Water Department has three projects that they are working on; The City's Bayview Reservoir Replacement Project, the Mid-City Pipeline Project and the Waring Road Pump Station Project.All three projects are part of the City of San Diego Water Department's citywide Capital Improvements Program. Water infrastructure improvements (replacements, upgrades and expansions) are underway throughout the City's water system, including pipelines, water pump stations, reservoirs and treatment plants. These improvements will help ensure a safe and reliable water supply, protecting the region's job base, environment, and overall quality of life for generations to come. The Metropolitan Wastewater Department (MWWD) provides regional wastewater treatment and disposal service for two million people living and working in 16 local cities and districts. Upon completion of the publicly used sewer lines, sewer pump stations, water treatment plants, and other water and sewer related projects, these Capital Projects under construction would be included as fixed capital assets.

Fixed capital assets provide services in periods beyond those in which they are completed or acquired.As such, these assets will be classified as long-lived assets.Long-lived assets are a key component of many of the services provided by any government.They include its police cars, administrative buildings, and its utility lines and roads.All of the projects currently under construction meet the criteria.All completed projects would be classified as long-lived assets and would be subject to the new GASB Statement No. 4, which requires governments to show depreciation of their assets on their full accrual, government-wide statements.

The Capital Projects are funded in a variety of ways.The Capital Outlay Funds are used exclusively for the acquisition, construction and completion of permanent public improvements, replacement or reconstruction of public facilities, including buildings, real property, and other improvements of a permanent character. Repair or maintenance expenditures cannot be made from the Capital Outlay Funds. Revenue for the Capital Outlay Funds is derived primarily from an annual Sales Tax allocation, but it can come from other sources per Section 77 of the San Diego City Charter. In addition, certain projects have allocations of Housing and Urban Development Section 108 loan funding. These loans are received during the fiscal year, and they are paid back in anticipation of future Community Development Block Grant receipts.Split Funding is a method by which two different revenue sources are used to fund a capital project on a percentage basis. This approach is most commonly used in the Water, Metropolitan Wastewater, and Airports Capital Improvements Programs to differentiate revenue sources that are frequently used for projects within these programs.The city of San Diego also funds its capital projects from revenues, fees, and service revenues from the various entities within the city.The city itself has little long-term debt to fund any of its capital projects.

One of the most important factors involved when discussing the capital projects that the city of San Diego may be affiliated with is what are the repayment provisions? A huge of money is poured into these causes, it is important for all involved to be able to realize just when and how this money is to be repaid. A capital project that the city of San Diego has borrowed funds for is the construction of a new community center.Funds will be used for a new senior center as well as public works improvement projects, among other items. The terms of repayment on this particular loan is twenty years. ¡§By agreement with the SEDC, $100,000 of tax increment will be transferred to the city annually for their share of the repayment and the city will allocate the remainder of the repayment from District 4's annual CDBG allocation.¡¨ Security and collateral is also discussed for this loan. The collateral will have to be identified before any approval. ¡§The senior center will be built on parkland and the city is still reviewing legal issues regarding the use of such property as collateral.¡¨

Clearly, many areas of the city of San Diego's budget and other financial statements can be greatly affected by the capital projects that the city is involved in. Decisions for the future must take these projects into consideration and be able to calculate if they will play a positive or negative role in the city's financial affairs. Each factor involved, will the projects be considered long-lived assets, what types of long-term debts may occur and what are the repayment provisions, are all vital questions that have been asked and analyzed for their affect on San Diego. (City of San Diego, 00)

CAFR

As stated in the text, the Management Discussion and Analysis (MD&A) included all the necessary information such as a brief description of the financial statements, an analysis of the government's overall financial position, changes in the capital assets, and a discussion of the condition of infrastructure assets, just to name a few.The City of San Diego appears to be adhering to all requirements set forth by GASB statements.The MD&A also explained that the City of San Diego had implemented the new GASB Statement No. 4 which required the municipality to report its financial data in the government-wide format.

The Notes to the Financial Statements include the overview for the various policies of the city, fund activity and balances, and summary of the financial statements.The Notes include

¤Summary of Significant policies

¤Reconciliation of Government-wide and Fund Financial Statements

¤Cash and investments

¤Capital Assets

¤Governmental activities Long-term debt

¤Business-Type Activities Long-term Debt

¤Discretely presented component unit long-term debt

¤Governmental activities short-term debt

¤Discretely presented component unit short-term debt

¤Lease commitments

¤Deferred compensation plan

¤Pension Plans

¤Post Retirement Health Insurance

¤Interfund receivables, payables, and transfers

¤Risk Management

¤Fund Deficit

¤Commitments

¤Contingencies

¤Third party debt

¤Closure & Pot Closure Care Cost

¤Operating Agreements

¤Restatement of beginning balances

¤Subsequent events

The additional disclosure that was required and that was not included in the Management Discussion and Analysis was pertaining to the San Diego City Employees Retirement System (SDCERS).Effective June 0, 001, the fund was 8.% fund, which is indicative of sound financial health for a benefit plan.

The major fund types used by the City of San Diego include the General Fund, Enterprise Fund, Special Revenue Fund, Capital Improvements, and the Debt Service and Tax funds.The General Fund is the only fund that could be affected by the current recession due to the State of California currently reporting a deficit of $6 - $5 million.The Enterprise Fund, Special Revenue Fund, Capital Improvements Fund and the Debt Service and Tax Funds are all fully funded either by prior distributions or current user fee revenues staying at the level required to cover expenditures.

The current account groups listed within the MD&A included Capital Assets and Outstanding Debt.The financial data was listed in detail with specific assets listed in the two-column format and the debt detail included how the revenues were distributed by government activities and business type activities.

The City of San Diego originally passed a balanced budget totaling .1 billion dollars.Although the current budget that was presented was balanced at the time it was approved, there are now issues with being able to remain within the budgeted perimeters including a shortfall in revenues due to the slow economy.The projected shortfall in the General Fund revenues is expected to be $0 million due to the State of California being in deficit mode as well.Due to the increases in health care costs, the General Funds Worker's Compensation expenditures are expected to be $6 - $8 million over budget.

While the economic forecast for the near future is uncertain, the City Manager, the City Auditor and Comptroller and the departments have been working diligently to resolve the issues and end the year with a balanced budget, as required in the City Charter.Some of the steps taken to date to help reduce the deficit include an increase of Vehicle License fees, reduction in non-essential maintenance and repairs in the Parks and Recreation Department as well as for the Library system, street improvements will done on an as needed basis with a determination of the importance of the repairs, any open positions within the Fire and Police departments will remain unfilled and all unnecessary training will be deferred.However, looking at the national trends, the City of San Diego has been performing better than the national and State averages due to the housing market and San Diego's diversified economic base.While the unemployment numbers may be higher than the previous year, they are still lower than the national average.San Diego is maintaining a constant line of revenues during this time of recession due to the diligence of the city officials and the citizens.

References

City of San Diego.(00, October). Annual Fiscal Year 00 Budget ¡V San Diego at a Glance. [Online]. Available http//www.sannet.gov/budget/annual (00, June ).

Granof, Michael H. (001). Government and Not-for-Profit Accounting (second ed). New York John Wiley & Sons, Inc.

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Trend of Population Change and its Impact on the Environment - INDONESIA

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Indonesia is located across the equator and stretch from Sumatra in the west to Iranian Jaya in the east, or from Sabang to Merauke (Dari Sabang Ke Merauke). Its geographic coordinates are 5 00 S,10 00 E .The total area is 1,1,440 sq km. But interestingly only 0% consists of land, the rest is water. The number of islands in the Indonesian archipelago is disputed, but a commonly cited figure is 1,667, of which about 6000 are inhabited. Its capital is Jakarta.

Indonesia is regarded as the forth most populated country in the world. At present its total population is about 8,47,870 (July 000 est.) and its population growth rate is 1.6% (001 est.) Among this huge population 88% are Muslims,

Indonesian climate is tropical; hot, humid more moderate in highlands.

Write your Trend of Population Change and its Impact on the Environment - INDONESIA research paper

Methodology

Our total study is mainly based on secondary data .We collected the data from statistical yearbook and web page related to Indonesia. From those data we tried to analyze the overall picture by tables, graphs, charts and maps. Moreover our honorable instructor Dr. Ziaush Shams also helped us a lot.

General Geology

Indonesia is the worlds largest archipelago located between Asia and Australia and between two oceans, Pacific and Indian. Indonesia comprises more than 1,000 islands extending east to west over a distance of ,400 miles and north to south over more than 1,100 miles. The total land area is 75,865 square miles. Indonesian seas area extent is about four times greater than the land area, for approximately ,67,000 square miles of combined land and sea, an area larger than the continental United States or even Australia. The Western Indonesia comprises mostly called Sunda shelf including the Malacca straits, Natuna Sea, offshore Southeast Sumatra, North Java, East Java Sea and Offshore Kalimantan delimits the sea depth shallower than 00 meters. The population of Indonesia is estimated at 180 million, making it the fifth most populous country in the world after China, India, United States and Russia. The Java Island itself represents less than 7% of total area, but supporting for more than 50% of the population making the most densely populated island in the world. The major islands of Indonesia are Sumatra, Kalimantan (most of Borneo), Java, Sulawesi and Irian Jaya (west half of New Guinea. Kalimantan is the largest landmass with area of 08,000 square miles, making the largest island in the world. Sumatra is the second largest island with 18,000 square miles. Indonesia is an equatorial country; its tropical forest is only second to Amazon. The rainfall, especially in Kalimantan averages 150 inches per year. There are more than 60 sedimentary basins in Indonesia, which may generate and trap hydrocarbons. The main productive basins are North Sumatra, Central Sumatra, South Sumatra, Sunda, Northwest Java, East Java, Barito, Kutei, Tarakan, and Salawati. The basins are located in a unique geological framework, with 1 identified in the west andin the east. Only two basins are still undrilled in the west as opposed to 1 in the east. Thus, 1 of the basins (5%) are classified as virgin or immature areas. The remaining basins are considered semi-mature, consisting of 5 non-producing basins and mature, and 14 producing basins.

History

Indonesia is an old country, steeped in history.Scientists believe it goes back a long way to when 500,000 years ago Java man inhabited the islands.Indonesias history is one, which has been influenced by outsiders and foreigners.The Dutch, Japanese and Indians, just to name a few, have had something to do with Indonesias past and their culture of today.Foreigners from India and Persia brought new religions to Indonesia and changed the country forever. Indonesia is believed to have existed 4 million years ago, when it was part of the Asian mainland.The beginning of Indonesian history began when the ice started to melt just North of Europe and the American continent.Many other species of man were thought to have lived and evolved on the islands and the mainland Indonesia. India played a vital role in the development of the history and culture of Indonesia today.Indian settlers, mostly those from Southern India began to migrate to Indonesia during the 1st to 7th century AD.Indians introduced new religions and helped refine the Sanskrit language, which eventually caused the spread of Indian civilization into Indonesia. Moslem merchants from India and Persia established trade routes with Indonesia in the 1th century AD.Along with their goods the traders also brought the Islamic faith with them.Soon many Indonesians, particularly those along the coastal areas of Java, were converted, so began the coming of Islam about six centuries after the Hindu period. The Dutch began their quest for spices to sell on the European market in the 16th century AD.Selling spices in Europe would mean huge profits for the Dutch government, so in order to maximize their profits; they increased their efficiency and organization by founding the Dutch East Indies Company (VOC - Verenigde Oostindische Compagnie) in 160.After nationalizing the VOC in 17, the Dutch government had more control then ever before in Indonesia.The natives were forced to hand over their crops to the Dutch merchants; it was the beginning of Dutch colonialism. When Germany started World War II in Europe, Japan then made its move and

attacked Pearl Harbor in Hawaii.They later moved southwards to conquer as many Southeast Asian countries as they thought possible.Once Singapore was under Japanese control, they invaded the Dutch East Indies and the Dutch colonial army surrendered and the Japanese occupation occurred in March 14.Once Japan had a hold of Indonesia they began their propaganda campaign for what the Japanese called Great East Asia Co-prosperity.Indonesians soon thought this would be the key to positive change in Indonesia, but things did not quite turn out that way.

Although Indonesia is a diverse country with over 00 different ethnic

groups, most of Indonesias population comes from an Indo-Malaysian world, which today encompasses Malaysia, Brunei and the Philippines.Indonesias first populations had a rudimentary understanding of an agricultural economy based on cereals, and had knowledge of pottery and stone tools, during 500 to 500 BC.During the period 500 AD to 500 BC, when Indonesians were believed to have interacted with the people of South and East Asia, experts agree that metals and farm animals were probably introduced to the natives.

Dutch colonialism

The Dutch set out to control the spice trade and they eventually began

ruling Indonesia as a colony, but caused turmoil in the country.Once the Dutch seized Ambon in the Moluccas in 1605 and Banda Island in 16, they had a firm grip on the trade monopoly of the Spice Islands.Later the Dutch cut up and divided the land between them.This way trade among the local people of Makassar, Aceh, Mataram and Banten was brought to a halt. Indonesia was eventually brought to an agricultural country that supplied Europe with their goods.The Hindu Kingdom of Mataram was converted to Islam and was ruled by Sultan Agung Hanyokrokusumo.He was the one who developed the political power of the state and was eventually a fierce enemy of the Dutch.It was in 16 that he sent his military forces to attack Batavia, but they were defeated by Governor General Jan Pieterszoon Coens troops. In the year 1666 the Sultan Hasanuddin of Goa declared war against the Dutch.The result was the defeat one year later and Goa became a vassal state of the VOC (Verenigde Oostindische Compagnie) under the treaty of Bunggaya.Thirteen years later in 1680, prince Trunojoyo of Madura also waged war against the Dutch; he was later defeated and killed.The Dutch were looking for a way to secure their control of the spice monopoly in the Moluccas, so they began their Hongi expeditions.Their goal was to burn down as many clove gardens as possible, in an effort to eliminate overproduction.The people of Indonesia were hurt most by these expeditions.These excursions lead to brutal crimes committed against those who attempted to defend their crops.The VOC did benefit greatly from its control of the spice trades, however in 17 the VOC fell into bankruptcy due to mismanagement and corruption amongst its people.

Climate

Indonesia is generally classified as having a tropical or equatorial climate, which is controlled, by its archipelago structure and its position on the equator. These factors assure high, even temperatures and its location between Asia and Australia strongly influences the monsoon rainfall patterns. Temperatures are uniformly high, ranging from -1

degree Celsius (74-88 degree Fahrenheit) and are a function of elevation

rather than latitude. The area `s relative humidity ranges between 70 and 0 percent. The extreme variation in rainfall are linked with monsoons. In Indonesia, there normally is a dry season (June to September) that is caused by Australian continental air masses, and a rainy season (December to March) that is influenced by the Asian and Pacific air masses. Precipitation is the most important element of the climate of the Indonesian archipelago and it shows a great variation over the area as a whole. Local variations in precipitation are great, for example, Jakarta, near sea level, receives 70 inches of rain annually while Bogor which is higher in the mountains at an altitude of 70 feet records nearly 170 inches.

Flora

Reputed as the Spice Islands of the East, the Indonesian flora originates mostly from the Asian mainland, which makes it very diverse and exotic. The archipelago vegetation varies accordingly to rainfall, altitude and soil conditions. The plant life includes 40,000 different species belonging to ,000 different families with 10 percent of all plant

species in the world. About 60% of Indonesia is still covered with tropical rain forest especially in areas like Kalimantan and Irian Jaya, which are mostly forest-covered; while islands like Java and Bali have

much smaller forest-covered areas. The Indonesian vegetation includes ,500 species of orchids and ,000 species of trees, which includes durian, sandalwood, illupi nut, valuable of timber varieties like teak and ironwood, and rattans. The hill forests consist of oaks, chestnuts and other mountain plants. Most of the timber that is exploited in Indonesia comes from Kalimantan but also from certain regions of Java. But the island of Java is mostly known for its agricultural activity resulting from rich soils caused by volcanic eruptions and extensive deforestation. The culture of wet-rice, corn and tea is widespread in Java since it requires less land than other cultivation and can be done in mountainous terrain. Other islands like Sumatra are sources of rubber or palm oil but also petroleum, copper and bauxite. Another typical feature of Indonesian vegetation is the mangrove forest, which grows only in salty water along muddy shores. Mangrove swamps are extensively developed along the shallow seas on Sumatra, Kalimantan and Irian Jaya. To provide for the growing population, there has been a massive deforestation of areas in Java, which have caused erosion and soil exhaustion. These problems have been recognized by the Indonesian, which has been promoting selective cutting and reforestation. Six percent of the land has also been set aside for natural reserves and national parks.

Fauna

The Indonesian wildlife is influenced by two faunal regions the Megagaean of Asia in the west and Notogaean of Australia in the east. These two realms are separated by Wallace's Line which runs between Kalimantan and Sulawesi in the north and Bali and Lombok in the south. The Indonesia fauna incorporates 500 mammals like the tigers, orangutans, elephants of Sumatra, freshwater dolphins of Kalimantan, tree kangaroos, wallabies of Irian Jaya, rhinoceros and tapirs. Fifteen hundred species of birds are also found in Indonesia like different species of birds-of-paradise, parrots, cockatoos and peacocks, which are only found on the island of Java. Species of fish, reptiles, amphibians and invertebrates populate the seas and the coasts, including giant sea turtles and the carnivorous monitor lizards of Komodo also known as the Komodo Dragon. The warm seas surrounding the Indonesian archipelago are considered the richest waters in the world for their extraordinary sea life (fish, corals and mammals like dolphins). Indonesia also has an enormous and varied insect life that includes many unusual species like the giant walkingsticks, walking leaves, huge atlas beetle and Luna moths. Since Indonesia is home to many endemic species that are in danger of extinction, Indonesian government decided to protect these animals by

creating National Wildlife Parks like Mount Leger National Park, which is home to the Orangutan rehabilitation centers.

Indonesian Economy

The Republic of Indonesia is appearing to be a most productive economy in the Asia Pacific Region. Deemed as a tiger and labeled as one of the ten Big Emerging Markets by the United States Department of Commerce, their longest period of economic stability, spanning 5 years, has been significant in the lives of the countrys 00 million inhabitants. Indonesia has shown progress through numbers, and statistics on the Indonesian economy prove quite positive. The country still relies on agriculture, although not quite as heavily, due to their developing industries. Protectionist policies are evolving to liberalization to attract foreign investment, which has been on the rise in the country.

Most recently, the crash in the Southeast Asian stock market has been an obstacle to any further economic development, yet Indonesias economy is still relatively young and can, with its neighboring countries, emerge all the wiser and learn much from what has happened.

Economic Activities of Indonesia

The economy of the Republic of Indonesia is primarily mixed, meaning that they encourage the growth of the public sector and commit to the idea of full employment by combining the methods of capitalism and socialism. By 15 estimates, their purchasing power parity equaled $710. billion, and real GDP growth during the previous ten years was at an average of about 7%. GDP per capita was $,500. Indonesia has been working hard at industrializing itself, something, which reflects in the statistics for GDP composition by sector.

PEA

Agriculture, which produces rice, tapioca, peanuts, rubber, cocoa, coffee, palm oil, copra and other tropical products, as well as poultry, beef, pork and eggs, contributed 17% of GDP.

SEA

Industries, however, controlled .6% with petroleum and natural gas,

Textiles, mining, cement, chemical fertilizers, plywood, food and rubber.

Developing Industries

While agriculture still remains important, industries are surfacing in the

country, marking its development in a vital manner. The International Labor Organization (ILO) recently released a report indicating that employment in the textile, garment and footwear industry has gone up in Asia while tumbling in the West by as much as 40%. The ILO also states Indonesia had a growth rate of jobs of 4% in the years 170 - 10. Asia holds the biggest share of world clothing exports with %, and even though industrialized countries still lead in turnout, their annual production growth rate was averaged at 0.% for the past twenty years, while Asias was .6%. The government of Indonesia has also seen the importance of tourism for they have increased its budget to around US $47 million for 17, up by 4%. Post and telecommunications sectors, however declined by 8. rupiah. After the turmoil surrounding the countrys currency, Indonesias economic growth is estimated to sink between six and 6.5% from last years 7.1% (it reached 7.5 in 14 and 8.1 in 15).Manufacturing and construction industries are to be the most affected, with service and trade sectors suffering as well.

TEA

Services picked up the remaining 50.4%. It is not easy to take in the . million workers who enter Indonesias labor force of 67 million each year. Worker productivity between 185 and 15 doubled, and from 171 until 15, 44 million new jobs have been created. Minimum wage rose 55% in 15.This extra income has certainly given the workers an incentive to spend more. Industrial production rate is estimated at 1.%, and agriculture in particular can benefit from science, technology and industry. The underemployment rate is 40% (14 estimate). The countrys revenue is around $8.1 billion and capital expenditure (for year 6/7) is 14.5 billion. Indonesias exports total $ . billion and imports were $ billion for the year 14. Export commodities are led by manufactured products (almost 60%), fuels (6.4 %), foodstuffs (1.7%) and raw materials (%). Trading partners include Japan (7.4%), America (14.6%), Singapore (10.1%), South Korea (6.5%), Taiwan (4.1%), Netherlands, China and Hong Kong (.%), and Germany (.%). Indonesia has an external debt of $7.6 billion (15 estimate), and receives economic aid of $ 1.54 billion (1). Japan is Indonesias most important buyer of exports as well as supplying help. In the meantime, plantation crops are used for exports and job creation. The countrys assorted supply of natural resources, such as crude oil, natural gas, timber, etc., sometimes still serve as a base for industrial production.

Population Density and Distribution

The three islands of Java, Bali and Madura have very high population densities in comparison with other regions. This contrast reflects the actual variation in resource endowments and ecological situations between the nations provinces. Throughout most of the 0th century, Javas population has been growing at a much slower rate than that of the islands of Outer Indonesia. Hence the proportion of Indonesians living in Java has declined from around two-thirds at the time of Independence to 60 per cent at the 10 census. In the late 170s and early 180s some 1. million families (around four and a half million people) were moved under the transmigration program. The goals of the program are however, predominantly articulated in terms of regional development in the Outer Islands rather than demographic redistribution. The shift in government policy in the late 180s to facilitate investment and industrialization, however, is tending to favor growth in Java. Between 185 and 10 the number of people moving into Java (77,78) was almost as great as the number moving in the opposite direction (7,40).

The Parameters of the Population Change

The parameters, that we used to explain the trend of the population, are defined underneath.

Crude Birth Rate (CBR)

The number of live children who are born for every thousand people in a particular country each year is called the crude birth rate. Mathematically;

Crude Birth Rate (CBR) = B/P1 00

Here,

B - Total number of children who are born within one year.

P = The average population for one year

Crude Death Rate (CDR)

The number of deaths that occur per 1000 people in a country. Within one year is called the crude death rate. Mathematically

Crude Death Rate (CDR) = D/P1 000

Here,

D = Total number of deaths occurred within one year

P = The average population for one year

Total Fertility Rate (TFR).

The average number of children a woman bears during her lifetime is called total fertility rate.

Gross Domestic Product (GDP)

The total output of goods and services for final use produced by an economy, by both residents and non- residents, regardless of the allocation to domestic and foreign claims. 1It does not include deduction for depreciation of physical capital or depletion and degradation of natural resources.

The Demographic Transition

Social change and development in a society is accompanied by a sequence of changes in birth and death rates. The Demographic Transition model identifies this sequence. A fall in fertility is ascribed to an increase in the burden of rearing children in an urban industrial society and the improved survival rates of infants, supported by improved methods and practice of contraception. The generalized descriptive model was developed from observation and description of the experience of Western developed countries in the early part of this century. The model, however, is not accepted as being universally applicable.

Stage 1.

The first phase is of a traditional society where there is a high level of fertility and high but unstable mortality rates caused by famines, wars and infectious disease epidemics.

Stage .

The model suggests that the transition begins in response to modernization, better living conditions, and disease control. A decline in death rates occurs, while fertility rates stay high. There is a great population growth.

Stage .

Stabilization of death rate at low levels, a reduction in the birth rate levels off population growth and death and birth rates converge in this stage. Indonesia is well into this phase in which natural increase is falling as the nation is moving towards low equilibrium.

Stage 4.

The final phase is of slight growth, as in the initial stage. Both birth and death rates are however, low, with some fluctuations in fertility due to changes in economic and, to a lesser extent, social trends.

Graph

Population Growth Rate

Year 1651.8

Year 170.1

Year 175.4

Year 180.

Year 185.1

Year 101.

Year 151.7

Year 0001.6

The graph of population growth rate from year 165 to 000 shows us a wave curve of growth rate. That curve increases to the middle and decreases from the middle to the end. In 165 the growth rate was 1.8 and it increases to highest of these given years as .4 in 175. After that the population starts to decline to 1.6 in year 000. The population became more stable this year.

The day-by-day improvement of the socio-economic situation is the prime cause of the decrement of the population growth.

Total Population Of Selected Years

Year 1801546

Year 18517065

Year 101166

Year 150108

Year 000661

The above chart shows us the population of Indonesia from year 165 to 000. The population was 11.6 million in year 165. That increases to 6.61 million in year 000. So the difference of the population of these two years is 114.5 million. That implies it takes the population only 5 years to be doubled. It is happened, although the population growth rate is 1.6 now, because of the high growth rate of the years from year 165 to 10. Among this 5 years duration the population increases as much as (11.6-11.6million) 7.00million people. After that period from year 10 to 000 the population increases only 17.51 million. Because of the population growth rate decreases in these years.

CBR and CDR

Year 180 5.0 1.0

Year 1851.10.

Year 107.68.8

Year 154.67.7

Year 000.7.0

We have analyzed the population of years 165-000. But the data of the crude birth rate (CBR) and the crude death rate (CDR) of 165 to 175 were not available. So if we consider the given graph of CBR and CDR of year 180 to 000, we can easily notice that the crude birth rate declined very sharply in that period. Although the CBR was very high in 180 the CDR was less than that. The change of CDR is not much significant as CDR, though it's decreasing. That implies the position of Indonesia in Demographic Transition Model is the Late DTP. Because we know that the Late DTP contains significant decrement of CBR and slow decrement of CDR.

Total Fertility Rate

Year 1804.8

Year 185.80

Year 10.

Year 15.8

Year 000.5

Another important phenomena to be considered in population trend are total fertility rate. From the given graph of total fertility rate we find that the fertility rate decreases from year 180 to 000. It was 4.8 in 180 and it became .5 in 000. That also impacts the CDR to be declined at a high rate. Thus the total population is also indirectly effected by the decreasing fertility rate.

Total Population of Male and Female

Year 188 186 154

Year 000 118 110

The above graph shows the total population of male and female in the year 188 and 000. We find that, the ration between male and female is not that much. Actually it is almost same. But if we compare the ratio of male and female over the last 1 years (year 188-000) it increases.

The Age Structure

The figure (above) shows the number of Indonesians recorded in each five-year age group at the 180 and 10 censuses. The 180 population pyramid has a broad base, with each older five-year age group tending to have fewer members than the one directly below it. This is because for any birth group mortality will gradually erode their numbers as they age up the pyramid. Hence if fertility is more or less constant, each older age group will have less than the one immediately below it and more than that immediately above it. If there is a significant continuing decrease in the death rate, however, it will mean that as a group moves into an older age category the numbers in that age category will - relatively - increase. This is because although the group may have started off around the same size as that of the slightly older group leaving that age category, more of its members have been saved from death by the lower mortality rate. This is the situation in Indonesia.

Overall Analysis of Graph And Data

With an estimated population in 000 of 6.6 million people, Indonesia is the fourth most populous nation in the world and accounts for 40 per cent of Southeast Asias population. Population issues have been a major concern to governments in Indonesia both during the colonial era and since Independence.

Population Growth

Indonesias population has risen dramatically in the last two centuries, especially in Java. A high priority has been given to population reduction. For several years after Independence lower rates of growth occurred due to the disruption caused by the Japanese occupation and War of independence. Improvements in mortality in the 160s and 70s led to an increase in the annual growth rate. The 180s, however, saw a decline in the growth rate that has continued into the 10s. The success in reducing population growth has been achieved mainly through a significant reduction in the birth rate over the last two decades, while mortality levels have been greatly reduced. Life expectancy at birth has also increased from 47 in 171 to 5 in 180, and is now around 5 (58 for males and 61 for females). Indonesia is now well advanced in the demographic transition and it is anticipated that fertility will reach replacement level early in the next century.

Indonesias Changing Age Structure

It is important to realize that certain age groups in Indonesia are increasing more quickly than the population as a whole. This is due to a degree of unevenness in the age structure. The age structure reflects past trends in both fertility and mortality in Indonesia. Continuing significant improvements in infant and child mortality rates have resulted in each age group growing substantially as a more recently born group replaces an older group. Therefore the numbers of males, for example in the age group 10-1, were larger in 10 than the number of males aged 10-1 in 180. Between 180 and 10 there has been a very large increase in population aged between 10 and 40. Hence Indonesias labor force is currently growing more quickly than the population as a whole. It also means that the numbers of women in the childbearing age groups are also increasing rapidly so that, even while the number of births per woman is decreasing, the total number of births will remain large for some time.

Indonesia, like many countries in the Asian region, faces a massive growth of its elderly population. At present Indonesia has some 11.5 million people aged 60 years and over but this will increase to 16 million by 000 and will reachmillion in 00. Over this period they will increase from 6.4 per cent to 11.4 per cent of the total population in 00. This represents a considerable challenge to policy makers since the present availability of support for the dependent elderly is almost totally from family sources. Contemporary changes in the Indonesian family and society may mean that this source will not be so readily available in the future.

Future Trends

Indonesias population growth still remains one of the greatest challenges facing policy makers and planners. Few countries in the world have been more active in seeking to influence their population growth and distribution, and in the case of the family planning program, few have been more successful than Indonesia. Nevertheless the demographic momentum built into the Indonesian age pyramid will ensure that substantial population growth will continue well into the next century, even if fertility continues to decline. It appears that the national population will increase to 10 million by the year 000, 5 million in 010 and 54 million in 00 and will peak at 54 million. Finding ways to provide jobs and education, for example, for this substantial net increment to its population, while improving the quality of living of the total population, as well as preserving the natural endowment of resources through using them in sustainable ways, presents a huge challenge to policy makers and the Indonesian nation. The figure (below) shows the number of Indonesians recorded in each five-year age group at the 180 and 10 censuses. The 180 population pyramid has a broad base, with each older five-year age group tending to have fewer members than the one directly below it. This is because for any birth group mortality will gradually erode their numbers as they age up the pyramid. Hence if fertility is more or less constant, each older age group will have less than the one immediately below it and more than that immediately above it. If there is a significant continuing decrease in the death rate, however, it will mean that as a group moves into an older age category the numbers in that age category will - relatively - increase. This is because although the group may have started off around the same size as that of the slightly older group leaving that age category, more of its members have been saved from death by the lower mortality rate. This is the situation in Indonesia.

Conclusion

We tried our best to analyze all the data and also tried to find out the impacts of growing population of Indonesia .In conducting this study we had some limitations. Most of the studies are based on secondary data. It would be amore rich & precise study if could collect the primary data correctly. And we also have the shortage of time.

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PROFILE OF AN EMERGING MARKET ECONOMY:THE CASE OF THAILAND

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THE CASE OF THAILAND

NAME GE BAI BBA1 / WS000-001

TABLE OF CONTENTS

INTRODUCTIONPage 1 -

ECONONMIC POLICIESPage-5

INVESTMENT CLIMATE Page 5 -

ECONOMIC TREND AND OUTLOOKPage 10-1

SUMMARYPage 1

APPENDIX TABLESPage 14-18

REFERENCES Page 1-0

INTRODUCTION

In a very general terms , an Emerging Market is a country that is in the process of attempting to improve its economy with objective of achieving a per capita Gross National Product comparable to that of the world's more economically developed andwealthier countries. The World Bank classifies any country whose economy generates a Gross National Product per capita of less than approximately $10,000 annually as a less developed or Emerging Market country.

Most Emerging Market countries receive financial aid or support from international organizations such as the International Monetary Fund and the World Bank to help them improve their economies. Many of these countries are seeking to achieve sustained economic growth through the adoption of one or more of the following measure

·Reducing foreign debt

·Controlling domestic inflation

·Introduction of tight fiscal and monetary policies

·Privatization of large industry sectors

·Reduction of trade and investment barriers

·Developing a skilled labor force

·Stabilizing exchange rates

For global investors, the primary attraction in investing in Emerging Market countries is that they potentially offer the greatest opportunity for rapid economic expansion and high returns on investments on a middle to long-term basis. Another factor is the fact that many of these countries have yet to achieve a high degree of political and economic stability.

There are about 50 countries in the world that may be classified as Emerging Markets, and these Emerging market countries are quite diverse and vary in speed in which they are improving their economic infrastructure. Only about 15 countries are considered to be the leading countries in this category as far as global investors are concerned. Thailand is one of them.

Thailand, officially Kingdom of Thailand, a country of 514,000 sq km and roughly 61 million inhabitants, borders Myanmar( Burma ), Laos, Cambodia and Malaysia in South East Asia. Administratively, the country is divided into 76 provinces. Bangkok is the capital and by far the largest city.

Thailand has long been considered one of the more advanced developing nations in Asia, both economically and because of its commitment to developing viable democratic political institutions. With an annual per capita Gross National Product growth rate of at least 8 percent, continuously increasing foreign investment and a thriving export market, Thailand's "tiger economy" until recently was a model for other developing nations.

The Asian financial crisis, which began in Thailand in 17 and spread quickly to other nations inthe region and throughout the world, has resulted in a depression in Thailand.The Thai economy contracted 0.4% in 17 and shrank another 8.5% in 18. Foreign investment for new projects , the long-time catalyst of Thailand's economic growth, has slowed down. Unemployment has risen dramatically, and even those who remained employed faced wage cuts and delayed payments. The once thriving middle class was shrinking; disparities between rich and poor have been exacerbated. The Thai government quickly implementedInternational Monetary Fund restructuring demands in exchange for billions of US $ aid package and adhered closely to the economic recovery. Some analysts predict that it will have the fastest economic recovery in the region. Even so, most economists are now believing that the recovery will take at least 5 years.

ECONOMICPOLICIES

General Policy Framework

Thailand's economic development is based upon an export-oriented economy, bolstered by a free market philosophy. Within the last generation Thailand's economy has changed from one primarily based upon agriculture, with some light industries, to one dominated by manufacturing. About 40 percent of the Thai labor force is still engaged in agriculture. The growing service, manufacturing, and wholesale and retail trades now account for two-thirds of Thailand' GDP. After years of strong export growth, Thai export growth slowed sharply in 17, as in many of its Asian neighbors.The new government, since coming to power in November 17,has had to face Thailand's greatest post-war economic crisis. The government made promises of structural reform in the financial sector to IMF in exchange for a rescue package. The reforms and the re-capitalization of the surviving financial institutions, have progressed step by step.

There are also long term problems that are likely to negatively affect the Thai economy for some time. Thai competitiveness in labor intensive industries has been falling as its ASEAN neighbors have taken a greater share of those markets. There is a shortage of well-educated management and workers capable of shifting smoothly into higher-tech industries, where Thailand's economic future purportedly lies. Inadequate infrastructure, especially in the overcrowded Bangkok area, is an ongoing problem.

The government depends upon exports to bring the country through the current economic crisis, but they may not be the engine of recover. Exports, except in textiles and agro-industries, have not reaped the expected gains from a cheaper currency, because so many of Thailand's products are assembled with components bought abroad which necessarily come at higher prices.

Exchange Rate Policy

From 184 to 17 the Thai baht was pegged to a basket of currencies of Thailand's principal trading partners, with the US Dollar representing the largest share. The exchange rate averaged about 5 baht to the dollar during most ofthat period. However, under pressure from dwindling foreign exchange reserves, the baht was allowed to float on July , 17. It began to depreciate immediately, falling to 56 dollar by mid-January 18. As reform measures and IMF support took hold, the baht stabilized and traded around 45 up to now ( see Appendix tables ).

In 10, the Thai government announced a series of measures to liberalize the exchange control regime and accepted the obligations of the IMF 's Article VIII. Commercial banks were given permission to process foreign exchange transactions, andceilings on money transfers were increased. Since 11, banks in Thailand have offered Foreign Currency (FCD) accounts for Thai residents, though such accounts are limited to $500,000 for individuals and $ 5 million for corporations.

After letting the baht float in July 17, the government began to tighten conditions on foreign exchange, requiring customers to show evidence of foreign currency obligations to open FCD accounts. Thailand also shortened to 10 days from shipment the period within which exporters must transfer foreign exchange earnings, or deposit them in FCD accounts.

Structural Policies

Thailand's obligations within the WTO and ASEAN have prompted reforms in tariff rates, trade regulations, regulation of financial institution, and currency policies.

Tariffs

The Thai government continues to reduce tariff rates pursuant to a reduction schedule established in 14, although progress was impeded during 18 and 1 due to the economic crisis and shortfalls in government revenues from other sources. As the government want to promote industrial and trade development through reducing tariff rates and adjusting the tariff structure, a revised tariff structure is to be unveiled soon which will categorize goods under three general headings primary / raw materials; intermediate and semi-processed products; and finished products. This reorganization could remedytroublesome anomalies in the Thai tariff schedules.

Taxation

The Thai taxation code has undergone revision since 1, when a 7 percent Value Added Tax ( VAT ) system was introduced. In September 17, the government announced an increase in the VAT, form 7 to 10 percent ( most basic foodstuffs are excepted ). This was necessary to raise revenues, and to meet the requirements of the IMF rescue package. And exemption for businesses making less than $ 4,000per annum remains in place. Firms grossing between $ 4,000 and $ 48,000 per annum pay a rate of 1.5 percent, up .5 percent.Exportersare zero rated but must file VAT returns and apply forrebates. The corporate tax rate is currently 0 percent of net profits for all firms. In March 1,as part of economic stimulus plan, the VAT temporarily reduced from 10 % to 7 % and it will remain in effect until March 001.

Debt Management Policies

Thailand's financial crisis resulted in part from significant increases inexternal debt. As the end of 17, the stock of public sector external debt stood at $ 17. billion, of which only $ 0 million is short term. Private sector debt stood at $ 67. billion, of which $ . billion was short term. Public sector external debt is owed to multilateral and bilateral institutions, as well as to capital markets and is divided relatively evenly between direct government borrowings and loans guaranteed by the government. Thailand' s debt service, as a percentage of exports of goods and services, propelled by stagnating exports, has risen considerably.

The financial crisis prompted Thailand to seek assistance from the IMF, which arranged a $ 17. billion stabilization program firstly. Restructuring the corporate debt overhang is an important element of the IMF program and the overall effort to stabilize and rejuvenate the Thai economy. The government has conditioned public assistance for re-capitalizing banks in part on progress in restructuring and also announced principles for debt restructuring and established the corporate debt restructuring advisory committee to assist targeted debt workouts.

Export policies

Thailand maintains few restrictions on exports, except when related to national security, environment protection and cultural concerns or pursuant to trade agreement.

In December 14, Thailand ratified the Uruguay Round agreements. Thailand maintains several programs that benefit manufactured products or processed agricultural products and which may constitute export subsidies. These include subsidized credit on some government to government sales of Thai rice, preferential financing for exporters in the form of packing credits, tax certificates for rebates of packing credits, and rebates of taxes and import duties for products intended for re-export. The Thai EX-IM bank currently offer an 11 % rate, about one point below the prime rate offered by the large commercial banks.

INVESTMENT CLIMATE

Openness To Foreign Investment

The Thai government has long maintained an open, market-oriented economy and encouraged foreign direct investment as a means of promoting economic development, employment, and technology transfer. Thailand welcomes investment from all countries and seeks to avoid dependence on any one country.

During the past two years, the government in concert with the IMF has embarked on an economic reform program intended, in part, to foster a more competitive and transparent climate fore foreign investors and creditors in an effort stimulate investment flows. A primary focus of this program has been the financial sector, which was crippled by a huge amount of bad debt resulting from the Asian economic crisis.

Although many aspects of the recently enacted reform measures were controversial and strongly resisted by the political opposition and other powerful elements of Thai society, the government still persevere with its reform agenda in the face of strong domestic opposition, which is indicative of its commitment to economic reform and an open investment climate.

Privatization

As part of its economic reform program, the Thai government embarked on a privatization program for state economic enterprises and state monopolies with the aim of encouraging capital inflows and relieving resource constrains in many key sectors of the economy. State-owned enterprises in Thailand operate primarily in the utility, energy, telecommunications, banking , tobacco and transportation sectors. In 18, state enterprises had total revenues of$4 billion, employed over 6,000 people and accounted for around 14 percent of the GNP.

Up to now, however,the government only has several plans and almost no privatization has yet occurred.

Performance Requirements andIncentives

As Thailand's central investment promotion authority, the Board of Investment (BOI) may establish certain requirements in exchange for its incentives. These requirements may include linking the minimum export level of a project to its minimum Thai shareholding level or restricting investment to certainsectors or certain locations. Generally, the most generous incentives are offered to those economic activities that bring new technology to Thailand.

The criteriaeligible for BOI incentives

·Significantly strengthen Thailand's balance of payments position, especially through production for export;

·Support the development of the country's resources;

·Substantially increase employment;

·Locate operations in provinces outside of Bangkok;

·Conserve energy or replace imported energy supplied;

·Establish industries that further technological development.

The BOI incentives include

Tax Incentives

·exemption or 50 percent reduction of import duties on imported machinery;

·reduction of import duties of up to 0 percent on imported raw materials and components;

·exemption from corporate income taxes for three to eight years and deduction ( in case of loss) of annual loss from net profits carried forward for up to five years;

·exclusion from taxable income of dividends derived from promoted enterprises during the income tax holiday.

Permission

·to bring in foreign nationals to undertake investment feasibility studies;

·to bring in foreign technicians and experts to work under promoted projects;

·to own land for carrying out promoted activities.

Guarantees

·against nationalization;

·against competition by new state enterprises;

·against state monopolization of the sale of products similar to those produced by promoted firms;

·against price controls; against tax exempt import by government agencies or stage enterprises of competitive products.

After the broken the recent economic crisis, the Thai governmentbegan to relaxed more and more rules and instituted other policy changes to boost foreign investment in Thailand. The BIO linked export targets to minimum domestic shareholding level. For projects manufacturing mainly for the domestic market, for example, Thai nationals had to hold not less than 51 percent of the registered capital of a projects to qualify for BIO benefits. When at least 50 percent of the output was for export, foreign investors could be granted permission to hold a majority of the shares; and, where more than 80 percent of production was exported, foreign investors could hold all of the shares.

Capital Markets and Portfolio Investments

The Thai government maintains a regulatory framework that broadly encourages investment and largely avoids market-distorting support for specific sectors. The government policies do not restrict the free flow of financial resources to support product and factor markets, and credit is generally allocated on market terms rather than by directly lending. Legal, regulatory and accounting systems are largely transparent. The Thai government has devoted considerable effort to bringing these systems into line with international norms, and significant progress has been made.

In the aftermath of the financial crisis, access to credit and restructuring the financial sector are the major issues of the Thai government. In 17, 56 finance companies were closed and 6 banks were nationalized. With the successful efforts, the government stabilized the economy and brought down the interest rates.

At the same time, Thai firms appear to employ few defenses against foreign investment, especially through cross- and stable-shareholding arrangements. Furthermore,defenses against hostile takeovers would typically be applied against all potential investors rather than against foreign potential investors alone. Companies are not forbidden from specifying limits on foreign ownership more strict than those established by the government, but the practice is not considered prevalent. In the recent environment, limits on foreign ownership and participation in the Thai economy have eased, a trend that should continue.

Intellectual Property Protection

Thailand is a member of the Berne Convention and afounding member of the World Trade Organization. As such, the Thai government is taking the steps necessary to be in compliance with both groups. During the past several years, Thailand is working on improving its patent laws and copyright laws. At the same time, it established the Intellectual Property Department and the International Trade and Intellectual Property Court. However, enforcement is still a problem, as large quantities of illicit goods continue to be sold at the retail level.

Political Turmoil and Corruption

Thailand has a history of frequent changes in government, often by military intervention. The last coup was in 11, followed in 1 political unrest and a confrontation in the streets of Bangkok in which over 50 civilian demonstrators were killed. Despite the changes in governments over the years, Thai economic policies have remained remarkably consistent, characterized by letting the private sector do what it does best. There is no significant segment of the Thai political organizations that disagrees with these policy fundamentals. Thailand has laws to combat corruption. The Commission of Counter Corruption, part of the Prime Minister's office, coordinates official efforts against corruption. Recently Thai administration have stated publicly their intention to improve transparency in the evaluation of bids and the awarding of contracts. Increasing media scrutiny of public figures has raised political pressure to curtail favoritism and corruption. Despite these improvement, both foreign and local companies continue to complain about irregularities.

Labor

The Thai labor force totals .86 million workers out of a 1 population of 6 million. This figure includes all Thais 1 years of age and older who are actively seeking work. Unemployment in 1 was estimate at .1 %. down from a high of 4.8 % in 18. Despite rapid growth in the industrial and service sectors, about 40 % of those employed are still engaged in agriculture. However, the shift of workers from the agricultural sector is continuing, and the proportion of those working on the land continues to drop.

The economic downturn has stemmed shortages in the labor market of workers with at least a secondary education. As Thailand's economy recovers, it is likely that highly skilled and experienced engineers, technicians and managers are in short supply again.

At the same time, the labor relations' climate in Thailand is generally peaceful with strikes relatively infrequent.

Thailand's education system is still geared toward the needs of a largely agrarian, traditional economy and society and lags behind the country's contemporary skill requirements. The government has made great progress over the last two decades in providing basic education. However, at present compulsory education is only through grade 6. A commitment to increase compulsory education to nine years is included in the new constitution.

Foreign Trade Zones and Free Ports

Thailand has ten export processing zones in which businesses may import raw materials and export finished products free of duty. In addition to these zone, any factory may apply for permission to establish a bonded warehouse within the factory to which raw materials, used exclusively in the production of products for export, may be imported duty free.

ECONOMIC TRENDS AND OUTLOOK

Where the Economy Stands Now

At the end of first half of 1 the Thai economy is finally beginning to show some signs of returning to health. Thailand's economic performance is showing sighs of picking up as the government's stimulus policies have gradually taken hold. Manufacture, imports and exportshave all recorded positive growth.In financial sector, banks have been largely successful in raising capital, interest rates are at historic lows , and the currency remains stable within a narrow range.

Although the improvement in sentiment over lastyears is palpable, the recovery remains fragile. The real economy refused to respond to the favorable macroeconomic outlook and the financial system reacted cautiously. Strong and balanced growth in the future will depend on a number of factors, not all of which are within Thailand's control.

Keys To Recovery

Over the pastyears the Thai government has initiated significant restructuring of the Thai economy, particularly the financial sector. Much of this restructuring is being carried out in coordination with and assistance from the IMF, the World Bank and the Asian Development Bank. While progress overall has been impressive, much remains to be accomplished, and solid future growth depends to a significant degree on progress in the following areas.

Re-capitalizing the Financial Sector

On August 14, 18, the Bank of Thailand and the Finance ministry jointly announced a major initiative to restructure and re-capitalize Thailand 's financial sector. Since their announcement, only several financial institutions have been approved for applications for government assistance. More importantly, Thailand's major banks and finance houses have raised capital on theirown, and most financial institutions now have capital adequate to meet current requirements.

Getting Government Held Assets Back on the Market

In 17 the government closed 56 finance companies and created the Financial Sector Restructuring Agency (FRA)to auction their assets back into the marketplace. By quickly selling these assets to private ownership and management, the government aimed to establish market-clearing prices for similar assets and to prevent their further deterioration.

Corporate Debt Restructuring

In mid-18 the government created the Corporate DebtRestructuring Advisory Committee (CDRAC) to facilitate debt restructuring, and in March 1 CDRAC oversaw the drafting of agreements between debtors and creditors and among creditors to establish a framework for restructuring that should speed negotiations. With a more active CDRAC monitoring negotiations and streamlined legal procedures for bankruptcy and foreclosure soon to be implemented, there has been more and more progress indebt restructuring up to now.

Building a Legal Framework

The lack of a modern legal framework allowing creditors to pursue bankruptcy and foreclosure perhaps is one of the major reasons why debt restructuring has moved slowly. In response, the government has pushed through the Parliament a package of reform legislation including a new foreign investment law and other provisions which can boost the debt restructuring significantly.

Stimulating the Economy

With the macroeconomic framework stable and interest rates at historic lows,boosting consumption has become a major government objective over the short term. By agreement with the IMF the government has launched several stimulus packages which have increased employment, increased direct spending, reduced production costsand given the economy a significant boost.

Major Trends and outlook

The Thai government and public are hoping that 18 will be remembered as the year when the Thai economy hit rock bottom and that 1 marked the beginning of a solid

recovery. Since the middle of 18, the Thai government policies have focussed increasing on stimulating growth. Up to now, the government has announced several massive stimulus packages which designed to create employment and stimulate production and consumption.

The government recognized from the start of the crisis that restructuring and re-capitalizing the financial sector and restructuring the huge burden of non-performing debt would be key to Thailand 's economic recovery, knowing that market confidence would return only when investors believed these issues were being resolved. Now the government has made significant progress in addressing these issues, but much remains to be done.

With the economy successfully stabilized and beginning to grow again, many investors have expected that the economy recovery ofThailand will be healthy and solid.

For the most part Thailand retains the fundamental strengths that had made it a generally attractive destination for investment. Thailand's strategic location at the center of Southeast Asia helped make it an export platform, and its economy is diversified with a growing domestic market. Transportation and communications infrastructure has improved dramatically over the recent past, and additional expansion is underway. Thailand has no industrial policy directing investment, and several successive governments have committed the country to an increasingly open trade and investment regime. Full implementation of the ASEAN Free trade Area should improve Thailand's regional competitiveness in several sectors,particularly the automotive industry. Thailand's political process is democratic and pluralistic, and the military no longer plays a central role in that process. Doing business in Thailand has challenges , to be sure , but the government appreciates the need for foreign investment. Thailand's basic strengths and the government's policy initiatives should provide better opportunity for foreign investors and business over the medium term as the economy recovers from the economic crisis.

SUMMARY

As one of the leading countries in Emerging Markets,Thailand had achieved high-speed growth in economy for nearly 0 years before the crisis in 17.

Its economic development policies are based on a competitive export-oriented, free market philosophy.Its economy is well along in a transition froman agricultural base to a more open and broadly based economy with a large manufacture sector.

In 17, Thailand became the trigger of the Asian financial crisis, which spread quickly to other nations in the region and throughout the world. Thailand had weathered the worst of the storm of the financial crisis.

With the aids of IMF, the World Band and the Asian Development Bank, the Thai government began their packages of reform, especially in the structure of financial sector. Now Thailand has made significant progress in preparing the economy for renewed growth. And most indicators now point to beginning recovery. Production, consumption and investment have bottomed ore are now inching their wayoff the bottom. Rebuilt foreign exchange reserves and a solid current accountsurplus provide Thailandwith some insulation against external shocks. Fiscal and monetary policies are now more accommodating and geared to stimulate the domestic economy.Overall signs are becoming more positive. Although expectations that the economy is set to rebound quickly to former rates of growth are unrealistic, the Thai government's success in pursuing the reforms have made the local and foreign investorsshared more hopes that as the reforms proceed and the economy recovers , one more open , more healthy and more robust emerging marker is being presented to the world.

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