Personnel Economics Essay Example | Topics and Well Written Essays - 1500 words - 1

Comparison Of 1984 By George Orwell To The Actual 1984 Essay -- Compar

Examination Of 1984 By George Orwell To The Actual 1984 Since the beginning of the United States, Americans have consistently seen the future in two different ways; one, as the ideal society with an ideal government, or two, as a radical hellfire where through and through freedom does not exist anymore and nobody is upbeat. The tale 1984 by George Orwell is a blend of the two speculations. On the terrible side, a socialist state exists which is upheld with observation innovation and faithful nationalists. On the great side, be that as it may, everybody in the general public who was brought into the world after the threatening takeover, which changed over the once majority rule government into a socialist government, isn't furious about their life, nor do they wish to change any part of their life. For the couple of unbelievers who exist, it is an angering presence, of steady work and programming. George Orwell's tale was unquestionably not quite the same as the genuine 1984, however how unique right? They were distinctive in 3 different ways: government, society, and thought.1984 begins with a supposed double crosser to the gathering, Winston Smith, strolling through the avenues anxiously watching the camcorders that are keeping a close eye on him. He advances into his loft and creates a diary from his jacket pocket. He imagines that even this basic demonstration of endeavoring to monitor time and history could get him disintegrated. This scene depicts the solid hold the legislature has on its benefactors. An individual either obeys them, or is murdered, or put into a constrained work camp. After Winston begins an unlawful undertaking with a more youthful lady he gets imprudent and the gathering discovers that he has carried out what they call thought wrongdoings. An idea wrongdoing is the expectation to accomplish something illicit yet not really doing it. In Winston's reality an idea wrongdoing is similarly as extreme as a physical wrongdoing. They capture him and his better ha lf and torment them until they understand what they did wasn't right and that they love the gathering and will never really hurt it again.The two administrative frameworks were distinctive in an exceptionally significant manner. The real administration of England in 1984 was a majority rule government. This present majority rule government's establishment was comprised of a parliament and a head administrator. Most different countries of the time had a similar set up. In Orwell's tale an oligarchic state existed. Airstrip One, which is the zone we call England, was home to Winston and the focal legislature of Oceania (an enormous natio... ...omething without really doing it. In Oceania a thought wrongdoing is similarly as terrible as a physical crime.The punishment for such an offense is, that you are taken to the Service of Love, however not murdered. You are currently programmed until you love the Gathering. O'brien, an inward gathering part, legitimizes this by expressing that every single extraordinary country of the past fell since they murdered all individuals who didn't care for them. The Gathering will never fall since they don't make saints. All individuals they dispose of affection the Gathering when they are at long last murdered. For instance: Winston is caught and brought to the Service of Love, he at that point is conditioned and discharged to society when he really enjoyed the Gathering. Once he lived in the network for some time longer he is shot in the rear of the head. The lines of reasoning, government, and society of the year 1984 versus George Orwell's 1984 are unmistakably extraordinary. In the w ake of taking a gander at the distinctions I expressed, the motivation behind why a great many people who have perused the book feel frustrated about Winston ought to be more obvious than any time in recent memory. The production of books with story lines like 1984 assistance to shape our assessments of how the world ought to be, and make our perspectives more grounded than they have ever been.

Environmental Impact of Soil and Sand Mining

Question: Examine about the Environmental Impact of Soil and Sand Mining. Answer: Presentation: Mining can impactsly affect condition. The effect of mining would incorporate sinkholes arrangement, soil disintegration, soil sullying, and bio assorted variety exhaustion. The extreme mining can likewise have backhanded effect on the wellbeing of populace leaving in the region. It is seen that unreasonable mining have more negative effects than positive (McCarthy, 2011). Thusly, it is significant that the legislature and the associations ought not concentrate on extreme mining. Commonly, mining is done in the backwoods zones with the goal that the negative effect on human progress could be limited. The particular ways mining can affect on the earth can be talked about as: Soil Erosion: Probably the most across the board negative effect of mining on condition is soil disintegration. Actually characterized, soil disintegration alludes to the consumption of top surface of the dirt. The dirt disintegration occurs through over the top downpours, floods, or avalanches. The unreasonable mining makes the lower surface of the dirt week and thus the odds of soil disintegration increments in the top layer. The issue with inordinate mining is that it goes about as an impetus in the dirt disintegration process. The unreasonable utilization of mining shifts soil disintegration from its characteristic strategy. With the unnecessary mining there is an expanded odds of soil disintegration (Savior, 2012). The dirt disintegration is the significant purpose behind number of other related issues like groundwater exhaustion, water defilement and so forth. Therefor, it is significant that the mindful specialists ought to have an arrangement of check and equalizations to mak e a keep an eye on soil disintegration. Techniques to decrease the effect of soil disintegration: The negative effect of mining on soil disintegration could be diminished with efficient arrangement of mining. The effect could be diminished if associations find a way to return the dirt (Magwai, 2013). It is significant that the top layer of the soli ought to be loaded up with new soil so the center layer doesn't exhaust. Bio-Diversity consumption: With the expanded spotlight on information mining, there is an expanded possibility of bio assorted variety exhaustion. It is seen that bio decent variety is high in the zones where human mediation is constrained (Magwai, 2013). With mining, human mediation increments in the locale and therefore bio assorted variety consumption is watched. This is the explanation that bio assorted variety of different timberlands faces a danger. The creatures are not confortable when people increment their mediation. There are different approaches to guarantee an area with rich bio decent variety. The wealth in the widely varied vegetation would be useful in number of ways (Pollock, 2010). It would have positive effect on nature as well as have positive effect on individuals. Strategies to reduce the effect of bio decent variety consumption: There are different techniques that could be rehearsed in present moment and long haul to decrease the effect of bio assorted variety. It is significant that the foundations and the associations should concentrate on both widely varied vegetation (Song, 2010). The associations and the administration should plant more trees in the area. Thus, the trees would pull in more flying creatures and creatures in the locale. Sinkholes development: Technically characterized, sinkhole is a downturn or opening in the ground brought about by some type of breakdown of the surface layer. The arrangement of sinkholes is normal in the territories where over the top mining is watched (Pollock, 2010). The over the top importance would really make the beneath layers frail and accordingly the underneath layers can watched a move bringing about the development of sinkholes. It is accounted for that the development of sinkholes could be stayed away from by keeping a beware of mining in the zone. The mining can occur in the territories; anyway the establishments should maintain a strategic distance from the over the top mining. Strategies to reduce the effect of sinkholes arrangement: The development of sinkholes could be maintained a strategic distance from if the spread of soil is even in the territory. It very well may be done when the mining is uniformly disseminated. It is significant that associations ought not concentrate on mining in any single specific locale. In actuality, associations ought to have in any event, mining in the district (Pollock, 2010). Groundwater consumption: It can be said that groundwater is the primary wellspring of asset (water) over the world. The extreme utilization of mining is the fundamental guilty party behind groundwater exhaustion. It is seen that the groundwater levels are acceptable in the zone where bio decent variety is rich. In any case, the geographic districts where bio assorted variety isn't rich, the groundwater are a panic asset (Magwai, 2013). Hence, it is significant that elevated level of bio assorted variety ought to be kept up over the areas where mining occurs. The elevated level of bio decent variety draws in more precipitation in the locale and this builds the degree of groundwater in the district. Techniques to reduce the effect of groundwater exhaustion: There are different immediate and circuitous measures to diminish the effect of groundwater consumption. This effect could be diminished if the mining district can draw in downpours (Magwai, 2013). It tends to be done if there are more plants in the district. In this way, it is significant that associations, governments and society should center to design an ever increasing number of trees in the regions where mining action is high. Talk about how Acid Mine Drainage is framed, what sway it has on the earth and strategies that can be utilized to reduce its effect. At metal mines, the objective metal (like silver, gold, copper, and so forth.) is regularly plentiful in sulfide minerals. At the point when the mining procedure opens the sulfides to water and air, together they respond to shape sulfuric corrosive (Petrilakova, 2011). This corrosive can disintegrate other unsafe metals and metalloids (like arsenic) from the encompassing stone. It is accepted that huge scope earth unsettling influences like mining can cause corrosive stone waste. The corrosive stone seepage is additionally normal in the territories where continuous development occurs. It very well may be said that unreasonable digging is a stage for corrosive mine waste. Mining is unquestionably a significant explanation of corrosive stone seepage. Be that as it may, there could be different reasons moreover. Truth be told, there could be both regular and unnatural methods for corrosive waste. The avalanches and interruption of soil is the characteristic explanation of corrosive seep age (Strosnider, 2010). The over the top mining and a lot of development is the unnatural methods for corrosive seepage. It is significant that the foundations ought to have the way to oversee both normal and man-made reasons. The event of corrosive mine seepage could likewise be clarified with the marvel of mining under the surface. Sub-surface mining regularly advances underneath the water table, so water must be continually siphoned out of the mine so as to forestall flooding. At the point when a mine is relinquished, the siphoning stops, and water floods the mine. This presentation of water is the underlying advance in most corrosive stone waste circumstances (Hogsden, 2011). Some different wellsprings of corrosive min seepage would incorporate the stone dumps of mine waste, coal crown jewels, and following lakes and heaps. The wellspring of corrosive seepage could be little or large. Be that as it may, it is significant that individuals ought not disregard the little wellsprings of corrosive seepage. There is constantly a likelihood that little sources would prompt greater sources in future. Besides, the quality or the power of corrosive likewise varies across various sources. It is conceivable that a little wellspring of corrosive creates the corrosive of high power. It is accepted that Acid Mine waste negatively affects condition. There are different explanations behind corrosive arrangement in the mining procedure. It is significant that the association ought to have the arrangement to dump the corrosive in the managed regions (Myburgh, 2010). The corrosive can be unsafe for different plants and creatures. It is accepted that corrosive can upset the bio assorted variety in the district. With the expanded spotlight on information mining, there is an expanded possibility of undesirable corrosive development. This thusly builds the bio assorted variety consumption. It is seen that bio assorted variety is high in the territories where human mediation is restricted. With mining, human intercession increments in the district and subsequently bio assorted variety consumption is watched. The corrosive development can have negative effect on the plants populace in the area. It is accepted that the development of corrosive can limit the development of pl ants and trees (Zhang, 2012). The antagonistic impact of corrosive arrangement could likewise be the demise of trees. The overabundance acids close to the plants could be lethal for trees. Also, on the off chance that the plants get over the acids, at that point there are chances that the trees would not have organic products. In this way, it tends to be said that Acid Mine waste is destructive for plants and trees. They effect of corrosive mine waste could be diminished if the drivers of corrosive mine seepage could be controlled (Hallberg, 2010). It may not be conceivable to deal with the common wellsprings of corrosive mine seepage. Be that as it may, the endeavors ought to be made to deal with the unnatural wellsprings of corrosive mine waste. The effect could be decreased if the mining occurs in a controlled domain. For instance, there should be a significant distinction between two continuous mines. The presence of two mines close to one another builds the odds of corrosive mine seepage. Another way to diminished the effect of corrosive mine seepage is to control the development of corrosive. It very well may be finished with the foundation of dumping ground or dumping territory for corrosive. It is right to state that it is difficult to dump the acids (Kuang, 2013). Nonetheless, there are apparatuses and strategies that could be utilized to dump the corrosive in a controlled situation. Me ntion that the limited quantity of corrosive can be dumped without any problem. In any case, it would not be conceivable to dump the extreme measure of corrosive. The tree huggers accept that there is a pressing need to improve the mining exercises with the goal that the corrosive min waste could be kept away from. This is the explanation that the job of earthy people has expanded in the last de

INTERNATIONAL FINANCIAL STRATEGY Coursework Assignment

Global FINANCIAL STRATEGY Coursework - Assignment Example Budgetary emergency started in the USA, spread to Europe and the remainder of the world. In the year 2007 to 2009, a dangerous money related emergency hit the world (Jones, n.d.). Downturn hit a few nations, for example, UK, Spain, USA and Ireland, where the primary encounters included raising costs exuding from the lodging. Financial experts, columnists, and different bodies like nations' administrations deciphered the downturn broadly (Munyo, n.d). As per Fosberg (n.d.), the monetary emergency began from subprime contract advances, and obligations. These kinds of accounts upheld other money related components decay. It stretched out their issues to different areas. For instance, Bear Stearns declared the underlying pointer of budgetary emergency; two of their subprime speculative stock investments have converted into useless resources in a brief timeframe (Leeuwen, 2011). In addition, there was crumbling of the monetary market in the USA when the selling rates fallen in 2008. Purch asers who neglected to offer for protections in the market described it. As indicated by Fosberg (n.d.), downturn is a critical decay of financial activity happens in a period running from months to years. From the European Commission, there is no particular meaning of the term monetary exercises (Smith, and mendoza, 2011). Rather, the European Commission is looking at the economy movers’ factors, for example, Gross Domestic Product (GDP), and Production and Income of the nation according to its GDP. This clarifies the distinguishing proof of an economy made a beeline for downturn (Grenville, 1999). Merrouche and Nier characterizes downturn as a period of business cycle whereby the general yield in the financial activities like pay and work decays for a period reached out for over a half year (Munyo, n.d). The monetary emergency contracts the business action and the GDP lessens prompting bringing down of the work possibilities. Besides, downturns happen when there is a decrea se in the territory of Gross Net Product for the greater part a year. Their definition and referencing of the proportions of the monetary emergency is more extensive than just GDP (Zarebski, and Dimovski, 2012). The event of the monetary emergency had a few negative effects on the money related market. For example, there was a decrease of protections gave by the firm, for example, the loaning associations (Powell, Nilipornkul, and Allen, 2013). Additionally, the world experienced different impacts of the monetary structure, for example, upset money related markets, the obligation and the value capital for organization use decreased, and serious downturn in numerous nations. What's more, financial downturn denoted a noteworthy change in the manner individuals spend their salary as far as the example and propensities followed when spending. The principle issue required fathoming and expectation of the normal new condition with a comprehension of consumers’ perspectives and nece ssities (Zarebski, Paul and Dimovski, Bill 2012 rate). Additionally, that year was portrayed by ascending of credits the same number of the speculation firms that pre-owned transient advances to subsidize their activities were experiencing issues tapping the asset for their company's development (Schwellnus, Goujard, and Ahrend, 2012). Prior to downturn, mid 2007, the USA was encountering a development GDP pace of 3 percent and the pace of joblessness was fundamentally lower than the present patterns. In any case, pointers plot that the lodging cost fell strongly, at a pace of 9 percent. The charge card organizations were lessening by rejecting new applications

How to Do 100 Topics For Essay Writing

How to Do 100 Topics For Essay WritingA lot of students try to find a good method for finding a method on how to do 100 topics for essay writing. In most cases, they get confused as to what that method is. In fact, if you look at it closely, it will help you understand why some students get confused and try to find the right methods.Some students try to think about the topic in a very linear way. They put the main ideas or aspects into an outline. This is a good idea in theory. However, this idea can be tough to work with when you try to complete your assignment within a limited amount of time.If you do the same process for every topic, you are likely to get very little done and probably even lose interest. If you have one list of topics and try to use this method, then you are setting yourself up for failure. There is no room for error when you are trying to accomplish these types of assignments. The best approach is to eliminate the middleman.To do this, you have to figure out the things that will work and eliminate the things that won't. This is important because you want to use the same method for all of your essays. Some students have tried different approaches and simply can't get anything accomplished. However, you should also understand that different approaches will work better on different people. Sometimes, it takes some experimentation to get a feel for the method.One reason that some students find it difficult to do 100 topics for essay writing is because they start on a blank slate. They may see a lot of 'this'that' on their first few attempts. However, this doesn't mean that they are wasting their time. In fact, they may be surprised by how many things are already in front of them. By eliminating the 'this' they may find it easier to see more clearly the things that need to be written about.You should always strive to work on your course work even if you don't feel that you have anything to work with. Students who go into class thinking that they don't have anything to write about are missing out on a lot of valuable learning. The best way to learn is to write down the information you take in. This is especially true when it comes to writing essays.While this is true, it also has to be said that the most important part of your coursework is going to be the project that you have to do. Writing a project in writing is something that a lot of students don't understand how to do. They may feel that it is easy. But, it isn't if you don't try.This is a task that you should try to give some consideration to doing even if you aren't a student. Whether you are going to college or not, it is still important to do your part. So, use the above tips to help you.

Analysis Of John Steinbecks Of Mice and Men - Free Essay Example

Many people wish to realize the American Dream, lured by ideal that everyone could achieve success through hard work and determination. What many people dont realize is that the path to achieving success is lined with obstacles and unknown loneliness. One novel, Of Mice and Men by John Steinbeck, illustrates the story of different ranchers in Salinas Valley during the 1930s who live their life in pursuit of the American dream. Candy, a handicapped swamper, demonstrates how loneliness plagues people on the ranch. Candy is a character who survives on the ranch by keeping out of peoplers affairs, and is lonely due to his lack of family and friends. One characteristic that defines Candy is that he knows to mind his own business. During one encounter, Candy overhears the conversation between George and Lennie which reveals how George had lied to the boss regarding Lennie being Georgers cousin, when Lennie was not related to George. When George confronts Candy about eavesdropping, Candy responds by saying A guy on a ranch dont never listen nor he dont ast no questions (Steinbeck 24). It was clear that Candy has heard their conversation, and knows about Georgers lie. His response reveals his preference to stay out of peoplers affairs and mind his own business. In a sense, this ignorance is his belief that staying out of trouble is crucial for workers on the ranch since theyre so replaceable. Therefore, it is no surprise that Candy is one of the workers that has been working at the ranch for the longest. The brief exchange with George and Lennie illustrates Candyrs characteristic of minding his own business and staying out of troubl e. Another more subtle characteristic that describes Candy is loneliness. Candy is a lonely character because he doesnt have any close friends or family members. His loneliness surfaces when he tells George and Lennie that Id make a will an leave my share to you guys in case I kick off, ?cause I aint got no relatives or nothing (Steinbeck 59). In this quote, he outright admits that he has no relatives. Furthermore, there is a hint that points to his lack of friends. The key is that he only met Lennie and George for the first time a few days ago. His willingness to hand over his share to people who he had just recently implies that George and Lennie are his closest connections, and reveals how lonely Candy truly is. From Candyrs action and words, readers can sense his loneliness. In John Steinbecks Of Mice and Men, Candy is a character who minds his own business for survival on the ranch, and is a lonely character due to his lack of family and friends. Candyrs decision to act ignorant about Georgers lie illustrates his tendency to stay out of trouble, as his sees that as the way to survive on the ranch. In addition, Candyrs loneliness is revealed through his willingness to transfer his share to George and Lennie, people who he had just met a few days ago. His action show that he has no connection with anyone else besides these two people he had just met recently, pointing to how lonely he truly is.

Determinants Of Development Of Banking Sector - Free Essay Example

Sample details Pages: 8 Words: 2342 Downloads: 10 Date added: 2017/06/26 Category Statistics Essay Did you like this example? ABSTRACT The objective of this paper is to examine the determinants of development of banking sector from the perspective of Real GDP, Discount rate, Trade openness and Financial Liberalization by using annual data from 1970 to 2007. In this study, Liquid Liabilities, Private sector credit and Domestic credit are used as indicator of banking sector development. The finding of this research shows negative relationship between Trade openness and development of banking sector development. Don’t waste time! Our writers will create an original "Determinants Of Development Of Banking Sector" essay for you Create order Discount rate is having a significant impact on banking sector development when Private sector credit and Domestic credit is used as the indicator while Real GDP is found significant when Liquid Liabilities and Domestic credit is used as indicator of Banking sector Development. Generalized form of data has been used in this study. Keywords: Banking Sector development, Real GDP, Trade openness, Discount Rate, Financial Liberalization INTRODUCTION The financial sector of Pakistan has shown a substantial growth in past few years, however there is still need for continuous development. The financial sector of Pakistan consists of a variety of specialized financial institutions à ¢Ã¢â€š ¬Ã¢â‚¬Å" commercial banks, DFIs, NBFCs, micro finance banks, Islamic banks, Modarbas, Stock Exchange and Insurance companies. Thus the whole financial sector of Pakistan offers a wide range of products and services to its customers. (Zaidi, 2005) states that growth of financial sector is significantly related with economic growth therefore, country needs well developed financial sector in order to fully utilize the financial resources. Banking system has a significant importance in financial market. Banking Sector of Pakistan is an important financial intermediary and responsible for the economic growth in the country. In 1990, Denationalization of Government owned banks have changed the overall scenario of the banking sector of Pakistan. After the amendments in banking companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ ordinance, Muslim Commercial Bank (MCB) and Allied bank Limited (ABL) were denationalized in 1991 and 1993 respectively. The process of denationalization remains suspended for numbers of years and was restarted in early 2000s, when United Bank Limited (UBL) was privatized. In 2004, Habib Bank Limited (HBL) was also denationalized and due to which, the asset share of public sector banks was reduced to 25% at that time. In the last decade, state bank of Pakistan has made several efforts in promoting the Islamic modes of financing. In 2002, the first Islamic bank was established under the name of Meezan bank. Since then, the number of Islamic banks has been opened. Various traditional ban ks are now opening Islamic specialized branches. At the end of 2009, total assets of the Islamic banking have reached to 366.3 billions and the deposits in Islamic banks have reached to 282.6 billions[1]. At the end of calendar year 2009, there are 9522 total branches of banks in Pakistan which shows an increase of 376 branches in banking sector from the 3rd quarter of 2009. Moreover, the asset base of banking sector has shown a growth of 7 percent over the last quarter. (Yasmin, Jehan, Chaudhary, 2006) explains that after independence in 1947, Pakistan avoided trade openness because of weak industrial structure. In 1960à ¢Ã¢â€š ¬Ã¢â€ž ¢s, industrial base was laid and manufacturing industry expanded widely in Pakistan. However, industrial expansion face setback in 1970à ¢Ã¢â€š ¬Ã¢â€ž ¢s due to nationalization of industries. In 1980à ¢Ã¢â€š ¬Ã¢â€ž ¢s, IMF and World Bank provided facilities to the Pakistan in order to initiate the financial restructuring in country. A loan of $150 million and $200 Million was provided for this purpose under à ¢Ã¢â€š ¬Ã…“Financial sector adjustment loanà ¢Ã¢â€š ¬? in 1989 and 1997 respectively. Another project named as financial sector deepening and Intermediation project was initiated in 1995. The estimated worth of that project was $216 million. (Hanif, 2002) Despite of the remarkable performance since last two decades, the banking sector of Pakistan is less developed and remains small in relation to the economy, when it is compared to the other banking sectors of the world. This shows that a number of financial and banking needs are still ignored and that much of the economic potential of Pakistan is not achieved yet. Highlights of banking sector of Pakistan Following is the highlight of banking sector of Pakistan from 2005 to 2009. (Rs. Billion) 2005 2006 2007 2008 2009 Total Assets 3,660 4,353 5,172 5,672 6,529 Net Investment 800 833 1,276 1,080 1,753 Net Advances 1,991 2,428 2,688 3,183 3,428 Deposits 2,832 3,255 3,854 4,217 4,787 Equity 292 402 544 563 662 Profit after tax 63 84 73 43 54 Source: State Bank of Pakistan LITERATURE REVIEW (Christopoulos Tsionas, 2004) states there is no one opinion of economist on the issue of financial development and growth of economy. (Pagano, 1993) describes that savings are mobilized towards the productive investment due to financial deepening which helps in improving corporate governance. (Khan Qayyum, 2007) says there are three major channels through which financial development can affect economic growth (i) marginal productivity of capital can be increased (ii) savings are directed towards the investment (iii) level of private saving rate can be increased. The relationship of economic growth and financial development was first discussed by (Goldsmith, 1969), (McKinnon, 1973) and (Shaw, 1973). Their study shows that there is a positive relationship between financial development and the level of output i.e. when the financial market will increase the credit level, the investment will increase thus, showing that real income and real interest rate is a positive function of financial development. (Yu Gan, 2010) study shows that due to positive real interest rate, the mobilization of savings of banks increases and it also increases the growth with the increase in volume and productivity of capital. (Yanikkaya, 2003) argues that trade openness has a significant impact on the GDP share. In developing countries, trade openness creates new opportunities to increase the growth process and hence the unemployment level decrease. (Jin, 2000) states that trade openness facilitates in establishing the development process. Moreover, local technology and production process can be improved through trade liberalization. One school of thoughts is of view that the financial liberalization is also a major contributor towards the financial development in developing countries. à ¢Ã¢â€š ¬Ã…“Financial liberalization means the deregulation of domestic financial markets and liberalization of the capital account.à ¢Ã¢â€š ¬? (Attaullah, Cockerill, Le, 2004) empirically shows that the effectiveness of banking sector is improved following the financial liberalization. (Bekaert, Harvey, Lundblad, 2005) Suggests that there is a significant relationship between financial liberalization and economic growth. However, (Stiglitz, 2000) argues that increase in financial liberalization enhances the macro economic vulnerability of nations and chances of crises becomes significant. The study of (Gong, Lee, Chen, 2004) supported the fact that increase in financial liberalization can cause crisis. (Wyplosz, 2001) suggested that financial liberalization is effective if the objective is to increase the competition and d ecrease the monopoly powers. However, financial liberalization is quite risky for developing countries. Many developing countries in Asia and Europe have grown faster even with strong financial restraints. MODEL SPECIFICATION Based on the above literature, we can propose that in Pakistan, banking sector development is a function of real Gross Domestic Products (RGDP), Discount date (DR) and Trade openness (TO) and Financial Liberalization (FL). This can also be shown as BSD Pak = f (RGDP, RI, TO, FL) Where, BSD Pak = Banking Sector Development of Pakistan In this study, we have used following models which are estimated by using least square techniques. In model 1, we will use Liquid liabilities as the indicator of banking sector development. In model 2, Private Sector Credit will be used as the indicator of banking sector development where as in model 3, domestic credit will be used as the indicator of banking sector development. (Yu Gan, 2010) ln LL= ÃŽÂ ²o+ÃŽÂ ²1ln RGDP+ ÃŽÂ ²2 DR + ÃŽÂ ²3TO+ ÃŽÂ ²4FL + e ln PRI= ÃŽÂ ²o+ ÃŽÂ ²1ln RGDP+ ÃŽÂ ²2 DR + ÃŽÂ ²3 TO+ ÃŽÂ ²4FL+ e ln DC= ÃŽÂ ²o+ÃŽÂ ²1ln RGDP+ ÃŽÂ ²2 DR + ÃŽÂ ²3 TO+ ÃŽÂ ²4FL+ e where, ln LL= Natural logarithm of liquid liabilities ln PRI= Natural logarithm of Private sector Credit ln DC= Natural logarithm of Domestic Credit Data source: We have used annual data from 1970 to 2007 in this study. The data is obtained from the World Bank database and international financial statistics. However, Financial Liberalization Index of Pakistan, constructed by (Waliullah, 2010) is used in this study. Real GDP (RGDP) is calculated by using following formula EMPIRICAL METHODOLOGY In this study, Ordinary Least Square (OLS) technique has been used. In order to run the OLS model, order of integration of every variable is determined. There are two methods to examine the order of integration i.e. Augmented Dickey-Fuller (ADF) test and Phillps-Perron test. In this study, we will use ADF test for examining weather the data is stationary or non-stationary. We will run co-integration test when all variables becomes stationary at same level. The generalized form of data has been used in this study. Empirical Results of Model 1 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Liquid Liabilities Table 1. OLS Results of Model 1 Dependent Variable: LL Method: Least Squares Date: 01/24/11 Time: 16:07 Sample: 1970 2007 Included observations: 38 Variable Coefficient Std. Error t-Statistic Prob. RGDP 2.390212 0.071527 33.41707 0.0000 TO -0.246367 0.046986 -5.243445 0.0000 DR 0.030429 0.104158 0.292144 0.7720 FL 0.035323 0.009594 3.681828 0.0008 C -0.000353 0.000128 -2.758942 0.0094 R-squared 0.998745 Mean dependent var -0.000415 Adjusted R-squared 0.998593 S.D. dependent var 0.020655 S.E. of regression 0.000775 Akaike info criterion -11.36561 Sum squared resid 1.98E-05 Schwarz criterion -11.15014 Log likelihood 220.9465 F-statistic 6564.172 Durbin-Watson stat 1.489120 Prob(F-statistic) 0.000000 In model 1, liquid liabilities have been used as an indicator of banking sector development. Table 1 show that Real GDP, Financial Liberalization and Trade openness are statistically significant and Discount rate is not statistically significant to the development of banking sector in Pakistan. However, Trade openness is inversely related with liquid liabilities which means that increase in trade openness will eventually affects the development of banking sector. While, Real GDP and Financial liberalization have a significant impact on the banking sector development i.e. higher Real GDP and Financial Liberalization in Pakistan will leads towards development of banking sector. R square is (.99) which shows substantial explanation of independent variables in dependent variables. Table 2. OLS Results of Model 2 (Private Sector Credit) Dependent Variable: PRI Method: Least Squares Date: 01/24/11 Time: 16:16 Sample: 1970 2007 Included observations: 38 Variable Coefficient Std. Error t-Statistic Prob. RGDP -7.684614 5.715274 -1.344575 0.1879 TO -7.525119 3.603842 -2.088082 0.0446 DR 25.87713 9.222809 2.805775 0.0084 FL -0.204028 1.108112 -0.184122 0.8550 C 0.033118 0.090551 0.365739 0.7169 R-squared 0.343149 Mean dependent var 0.041883 Adjusted R-squared 0.263531 S.D. dependent var 0.648747 S.E. of regression 0.556741 Akaike info criterion 1.788644 Sum squared resid 10.22868 Schwarz criterion 2.004116 Log likelihood -28.98424 F-statistic 4.309923 Durbin-Watson stat 1.880175 Prob(F-statistic) 0.006483 In model 2, we have used Private sector credit as an indicator of development of banking sector in Pakistan. Results of table 2 indicate that discount rate and trade openness have significant impact on the development of banking sector. However, Trade openness is inversely related to the banking sector development. Financial liberalization and Real GDP are not found statistically significant. R square of model 2 is (.34) which shows that independent variables are explaining 34 % of the dependent variable. OLS Results of Model 3 (Domestic Credit) Dependent Variable: DC Method: Least Squares Date: 01/24/11 Time: 16:20 Sample: 1970 2007 Included observations: 38 Variable Coefficient Std. Error t-Statistic Prob. RGDP 0.289400 0.002316 124.9755 0.0000 TO -0.007190 0.001983 -3.626526 0.0010 DR 0.014020 0.005240 2.675496 0.0115 FL 0.001211 0.000307 3.938439 0.0004 C -6.23E-06 4.61E-06 -1.351692 0.1857 R-squared 0.999939 Mean dependent var -1.15E-05 Adjusted R-squared 0.999931 S.D. dependent var 0.003380 S.E. of regression 2.80E-05 Akaike info criterion -18.00387 Sum squared resid 2.59E-08 Schwarz criterion -17.78840 Log likelihood 347.0735 F-statistic 134392.7 Durbin-Watson stat 1.559156 Prob(F-statistic) 0.000000 In model 3, we have used domestic credit as an indicator of banking sector development. Results of table 3 indicate that all variables are statistically significant to the development of banking sector of Pakistan. R square of model 3 is (.99) which shows that independent variables have a significant impact on the dependent variable. (Goldsmith, 1969) As mentioned above, generalized form of data has been used in this study and numbers of tests have been applied on these three models and there is no serial correlation, heteroscedasticity. CONCLUSION AND DISCUSSION The results of this study shows that Trade openness is inversely related to the development of banking sector in Pakistan in all three models which validates the findings of (Siddiqui Iqbal, 2005) that Trade openness negatively affects the economic growth of a country. However these results are not according to the findings of (Miller Upadhyay, 2000) which states that trade openness leads to the development of financial sector. Moreover this study also does not support the findings of (Yu Gan, 2010) which states that trade openness have no impact on the development of banking sector. In case of Liquid liabilities as indicator of banking sector development, it is clear that Real GDP and Financial liberalization have the significant impact on the development of banking sector of Pakistan. This result is according to the findings of (Yu Gan, 2010) and (Attaullah et al, 2004) which show that Real GDP and Financial Liberalization significantly impact the banking sector development. It means that increase in Real GDP and Financial Liberalization will lead the banking sector of Pakistan towards prosperity. In case of Private sector credit as the indicator of banking sector development, it is found that discount rate is statistically significant to the banking sector development. It means that increase in discount rate will lead towards increase in private sector credit which will eventually results in financial sector development. However, financial liberalization was found inversely related to the banking sector development and Real GDP was not found significant which is against the findings of (Yu Gan, 2010) which identifies that Real GDP has a significant impact on the development of financial sector of Pakistan when Private sector credit is taken as indicator of banking sector development. In case of Domestic credit as indicator of development of banking sector, results shows that all four variables are statistically significant to the financial sector development which are according to the findings of (Rajan Zingales, 1998), (Cetorelli Gambera, 2001) which states that Financial Liberalization and Real GDP significantly impact the development of financial sector. PRACTICAL IMPLEMENTATIONS FOR BANKING SECTOR On the basis of the findings of this study, we can conclude that trade openness is having inverse relationship with the banking sector development. As a result of Trade openness, the less developed banking sector of Pakistan faces tough competition from the developed financial sector of other countries. Moreover, increase in trade openness increases the countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s exposure to international shocks i.e. if any economy faces will suffer a crisis, there will be more chance of transferring crisis in Pakistan. Discount rate is also found significant in this study when Private sector credit and Domestic credit was used as an indicator of banking sector development. When the discount rate will be high, financial institutions will be encouraged to get loan from state bank of Pakistan. Banks usually uses discount rate as benchmark interest rate when they further lend the money to borrowers. So increasing the discount rate will eventually lead the banking sector to development.