Economic Analysis Of The Jamaican Economy Economics Essay

Economic Analysis Of The Jamaican Economy Economics EssayEconomic growingis a term generally measured by the amount of production in a country or region over a certain period of time. It can also be depict as the change magnitude of per capitagross domestic product(gross domestic product) or other measures of aggregate income, typically reported as the annual pose of change in received GDP. Economic yield is primarily driven by cleansements inproductivity, which involves producing more than goods and services with the same inputs of labour, capital, energy and stuffs. For the purpose of this project we go out be concentrating on economic growth in the long run FY 2012-2014.Jamaicas economy faces major long-term jobs a significant merchandise trade (imports and exports) deficit, large-scale unemployment and underemployment, and a public debt-to- piggy Domestic crossway (GDP) ratio of almost 130 per cent. Jamaicas onerous public debt burden the fourth highest per capita is the result of government bailouts to ailing sectors of its economy, most notably the pecuniary sector in the mid-to-late 1990s, and hinders government spending on infrastructure and facilities and kindly programs as public debt servicing accounts for nearly half of government be. ostentatiousness rates rose noticeably in 2008 and have kept on increasing as a result of high prices or pricing for trade food stuffs and oil and gas. High unemployment continues to aggravate the major problem of crime and violence, which includes the gang violence that is fuelled by the drug trade (imports and exports). The Golding led government faces the unvoiced prospect of having to achieve fiscal discipline in order to sustain public debt repayments while simultaneously attacking a major and expanding crime problem that is hampering growth of the economy.The Jamaican Economy has faced many economic challenges over the pass old age especially during the recent recession period. The economy is s till convalescent from the direct hit which the country sustained in 2009 where exports and capital inflows weakened leading to negative growth. A steep depreciation of the nominal exchange rate has raised the cost of servicing variable rate debt, as comfortably as the cost of rolling over existing loans. Amid volatility, macroeconomic policy remained unfaltering despite the downturn. For the Bank of Jamaica (BOJ), defending the currency had to take precedence over inflation targeting and stimulating GDP growth. Such global crisis has also negatively moved(p) the fiscal accounts, with lower revenue and a significantly higher interest bill.The government implemented a new Debt Management Initiative, the Jamaica Debt Exchange (JDX) on January 14, 2010 to mesh future economic downturns, which they had experienced in past years (2007 to 2009), which had resulted in a negative growth period for the country. The initiative would plan holders of Government of Jamaica (GOJ) bonds retu rning the high interest earning instruments for bonds with lower yields and longer maturities. The offer was taken up by over 95% of local financial institutions and was deemed a success by the government.The economic situation of Jamaica has worsened considerably, with the ongoing world financial crisis which has had devastating effects on the economy. The mining sector has been the hardest hit, while touristry and absolutions flows have been on the chastise. Most foreign exchange comes from remittances, tourism, and bauxite. Remittances account for nearly 20% of GDP roughly equivalent to tourism revenues. Three of Jamaicas four bauxite firms suspended operations in 2009 due to falling demand amid the global economic downturn. The country will continue to lose valuable resources from its exports in 2012-2014 while these firms ar out of operation. This rectify in remittances, and a contraction of consumer demand led to a deep recession with stubbornly high unemployment and un deremployment. With such hardship the government of Jamaica had no survival however to turn to the International monetary Fund (IMF), a multilateral lending agency. The government of Jamaica, with help from multilateral bodies, is resolved to addressing the nations challenges more effectively, in that locationby creating a sustainable growth path for join ond foreign investments in the new decade. On the 4th of February 2010 the International Monetary Fund (IMF) approved a US$1.27 billion Stand-By Facility loan agreement for a period of 3 years to underpin structural reforms and help Jamaica to withstand spill-overs of global financial drives that force main revenue streams. The IMF noted The government has triple-crownly completed a domestic debt exchange operation, which has contributed to a more equitable sharing of the burden of the general fiscal adjustment. The exchange has also struck an bewitch balance in terms of delivering necessary cash flow savings while taki ng appropriate account of the need to ensure financial sector stability which should continue for the FY2012-2014. With such great assistance from the IMF, the government believes The upgrade sends a significant designate to outside(a) and local investors and will help in reinforcing confidence in the market for Jamaicas debt. This first step in the recovery of Jamaicas ratings reflects the governments aggressive policy actions as put forward in the economic programme, and the positive impact and success of the JDX.Economic outlookThe launch of the Jamaica Debt Exchange Offer (JDX) in early 2010 has been seen as a positive step in the right direction, and the appreciation of the Jamaican buck since it hit a low of J$89.73 in February 2010 has been slight but steady.The government has begun implementing much needed structural reforms, which should improve the fiscal balance by over 5% of GDP in FY 2010-2014 and onwards. Among them, a debt-swapping plan aimed at achieving interest savings of about 3% of GDP and two-thirds reduction in the amount of maturing debt over the next three years has been successfully implemented, with an acceptance take of almost 97% of bondholders.Governor of the Bank of Jamaica, Wynter B. (2010), stated that The exceptionally high come outicipation rate in the exchange makes the Jamaica Debt Exchange one of the most successful debt exchanges in the world. The JDX replaces 350 high priced government domestic bonds with 24 new bonds, priced at a lower (12.5%) interest rate with longer maturities, providing annual savings of J$40bn. The Governor further stated that Additionally, the magnitude of maturing debt is expected to decline by 65 percent over the next three years, and the significant reduction in the governments refinancing needs will ease the crowding-out effect of the government debt and the upward pressure that this would have placed on domestic rates.Jamaicas four-year programme for the financial year 2010-2014 focuses on four key objectivesTo strengthen government finances by reforming public enterprises and passing a new fiscal responsibility law.Reforms of the financial sector to press systemic risks and enhance the countrys capacity to better withstand external shocks.A pro-active debt management strategy to eliminate debt overhang and reduce debt servicing costs. Jamaica spends J$182bn (US$2.1bn) on annual interest payments, which in turn, crowd out capital expenditures.Make the valuate structure more efficient, whilst improving tax collection and administration. That would increase resources for targeted social projects.Despite the launch of the Jamaica Debt Exchange Offer (JDX), this has been seen by analysiss as a positive step in the right direction, and with the marginal appreciation of the Jamaican dollar in February 2010.The tourism sector, which comprises a sizable chunk of Jamaicas economy, was badly hit by the global economic crisis, but a marginally more approving crime rate as advantageously as new marketing strategies being real by the Jamaica Ministry of Tourism and their counterpart throughout the Caribbean region bodes salubrious for the industrys slow recovery over next five years. The IMF however is saying that they dont foresee Jamaica changing its growth patterns in the near future, stated Charles Ross. The debt has itself become an barrier for growth because the country has to allocate so much of government resources into servicing the debt that very little is left for public investment in infrastructure that would assuage growth.The island of Jamaica however has proven itself resilient by surviving the steepest contraction in world trade since the 1930s, and its macroeconomic fundamentals are slowly but sure enough improving. The government of Jamaica, with help from multilateral bodies, is resolved to addressing the nations challenges more effectively, thereby creating a sustainable growth path for increased foreign investments in the new decade.The 2010/11 budget provides for increased social spending while minify recurrent expenditures.Fitch, the European rating agency, upgraded Jamaicas long-term local and foreign currency Issuer Default ratings to B- (with abiding outlook). Also, Standard Poors and Moodys have upgraded Jamaicas sovereign ratings, reflecting strong commitment to tackling fiscal imbalance and the successful outcome of the Debt Exchange (JDX) programme. The government believes The upgrade sends a significant communicate to planetary and local investors and will help in reinforcing confidence in the market for Jamaicas debt. This first step in the recovery of Jamaicas ratings reflects the governments aggressive policy actions as put forward in the economic programme, and the positive impact and success of the JDX.Economic theory suggests that sustainable increases in real income must be establish on increases in productivity. Productivity may be defined as the amount of output produced (in term s of goods or services) per unit input used. Commonly use measures include labour productivity as output per worker or output per labour-hour, and tot up productivity as output relative to all inputs used. some(prenominal) measures have been used in recent years to explore the dynamics of Jamaicas economic performance.Jamaica continues to rank favourably on a tally of indices of competitiveness and line of merchandise climate. The 2010 Index of Economic Freedom, published by the Heritage Foundation (US), ranks it the 57th freest market of 179 countries, surpassing established EU members such as Portugal, France, Poland, Greece and Italy. The country has a continue record of implementing micro-reforms that help encourage private enterprise and foreign direct investment (FDI).Reforms of trade regime and tax administration for the upcoming period 2011- 2014 should improve Jamaicas global ranking in the future business indicators. This reform is aimed at reducing tariffs, import fe es and some import/export bans and the latter is geared toward simplifying tax payment procedures. Jamaicas relatively flexible labour regulations could be further improved to increase job creation and productivity growth in coming years Dr Williams D. (2010) of the University of the West Indies.The government aims to boost the export sectors contribution to GDP from its current one-fifth to one-third by 2013 through expanding batchs and higher value addition in priority sectors as well as seeking new markets, thereby reducing over-reliance on North America, which in 2008 accounted for 50% of Jamaicas exports.The latest projections by international financial institutions (IFIs) show the economy stabilizing in FY 2010/11 and thereafter (2012-2014). Output is expected to grow at 2%, with inflation abating to 6%. high Foreign Direct Investment (FDI) in mining, tourism and other sectors will increase imports. However, continued FDI and gradually rising foreign exchange reserves (forex reserves) should process the impact of current account deficit on the balance of payments. The IMF envisages the external deficit falling to 5% of GDP over the medium-term. The currencys depreciation in real effective terms has improved the competitiveness of exports both visible and invisible (i.e. services). The government aims to cut the budget deficit by half by 2014/15, whilst reducing the net public debt to GDP ratio. In short, Jamaica is putting its house in order.The countrys first long-term development plan Vision 2030 Jamaica (launched in 2008) inspires to attain developed country status by focusing on four core areas a vibrant macro-economy effective governance world class education and discipline (especially science/technology) and greater security and safety. Jamaica has a realistic chance of achieving its national goals by 2030. However for the period 2012-2014 the three industries which are expected to perform well are the financial sector, the tourism industry and the Manufacturing industry.Industry AnalysisFinancial SectorThe financial services industry in Jamaica consists of commercial banks, merchant and self-reliance banks, credit unions, building societies and licensees under the Financial Institutions Act as well as non-deposit taking institutions including insurance companies, development banks and securities dealers. In 2008 there were 129 licensed financial institutions in Jamaica including 7 commercial banks, 46 credit unions, 17 insurance companies and 48 securities dealers, as well as 4 building societies, 3 FIA institutions and 4 development banks. Consistent with the current trend in maturation countries, there are also a large number of foreign exchange Cambios, remittance and money transfer companies and bill payment companies that facilitate transactions between the domestic and international markets.There has been a reduction in the join number of institutions operating in the financial sector over the past decade, from 189 in 1996 to 129 in 2008. The lower numbers reflect closures, mergers and downsizing, with the effect of the most efficient institutions emerging. mercantile banks are the largest sub-group within the financial sector. In 2008, assets of commercial banks accounted for approximately 76.0 per cent of total assets of the financial system, with Building Societies at 19.0 per cent and FIAs at 5.0 per cent.The Financial go Commission (FSC) was established in 2001 and there were several substantial amendments to the Bank of Jamaica Act, Banking Act, Money Laundering Act and Financial Institutions Act. The regulatory framework for the supervision of reward funds and credit unions also has been strengthened. The Jamaica Deposit Insurance Corporation (JDIC) was incorporated in August 1998 to provide insurance against the risk of loss of deposits held in insured financial institutions. The JDIC receives premiums from insured financial institutions at a rate of 0.15% of their total insura ble deposits and the funds are invested to build the Deposit Insurance Fund.After such severe restructuring the financial sector regained some buoyancy which has seen its share of GDP climb to 10.8% to GDP in 2008 and the total assets of deposit-taking institutions in the financial sector increase from J$238.9 billion in 1999 to J$715.8 billion in 2008. However, much of this financial activity has been fuelled by the explosion of domestic debt, which also has seen the increased growth of the Jamaican money market as an intermediary between individual holders of capital and the government securities market (approximately half of the dealers funds under management are with retail clients). This has reduced the ability of the sector to provide the capital needed by the private sector for productive investments. As the sector restructures and the market becomes more competitive, financial institutions continue to refocus their attention to their core functions, as evidenced by increased loans to the productive sectors.Jamaica has considerably strengthened financial system vigilance following a costly financial crisis in 1996-97. The financial system is deep and well-developed, the regulatory framework has in many respects been brought into line with silk hat international practices, and supervision appears to be implemented in a systematic and professional manner. Remaining regulatory gaps and weaknesses in the financial infrastructure are well recognized by the authorities, who have implemented important reforms. Regulatory capital has also increased in most financial institutions to levels that permit a commonsensible degree of resilience against macroeconomic shocks. However, data limitations prevented a full system-wide quantitative analysis of risks.During 2000-2008 the total stock of loans and advances increased by 587 percent and 308 percent, for commercial banks and FIA institutions, respectively. However, the volume of government debt held by these ins titutions decreased. The Bank of Jamaica and the Financial Services Commission continued to strengthen their respective regulatory framework in order to maintain stability within the industry and to conform to new developments in international standards. As at 31 March 2009, the seven commercial banks and two merchant banks (at the time) had total assets of J$582,515,204 billion with liabilities of J$516,216,670 billion resulting in total capital of J$35.649 billion.Manufacturing SectorThe Manufacturing Sector represents a critical fraction of the economies of many developing countries including Jamaica. Jamaicas manufacturing sector is diverse and modern. Products encapsulated under this sectors activities are beverages, processed foods, chemicals, plastics, cosmetics, pharmaceuticals, nutraceuticals and apparel. The island also produces spices and condiments, canned ackee and callaloo, as well as natural juices, frail drinks, beer, wines, spirits, and liqueurs.The manufacturing sector accounts for 12.8% of GDP per annum, employs approximately 7% of the labour force and is second in terms of sector contribution to real GDP. Jamaicas manufacturing sector grew during 2007 and contributed approximately 12.6% to total GDP, with total revenues surpass US$700mn. Manufactured exports grew by 7.3% in 2007 to US$705.8 million, a denunciation of higher export earnings from both non-traditional and traditional make products andtotal investment in the manufacturing sector facilitated by Jamaica Trade and Invest amounted to J$3.6 billion during 2007. These investments spanned several sub-sectors including agro-processing, plastics, petrochemicals and cementum. The petrochemical sub-sector was positively impacted by the development of an grain alcohol dehydration eagerness at Port Esquivel, St. Catherine. Further expansion also took place in the plastics sub-sector and in the cement sub-sector through modernization and upgrading of clinker and cement production facil ities.However, this boilersuit picture of growth during 2007 was complemented by the Governments focus on increasing productivity in order to impact growth. Government implemented programmes that facilitated international competitiveness include worker skills training, technology upgrading, research and development, the Private Sector Development Programme (PSDP) and the Quality Jamaica Project, which includes training in Hazard Analysis unfavorable Control express (HACCP). Manufactured exports represent approximately 12.6% of GDP in 2007, while the sector employs about 6.1% of the total labour force. Exports grew by 7.3% in 2007 to US$705.8 million, a reflection of higher export earnings from both non-traditional and traditional manufactured products.The global economic crisis in the last quarter of 2008, spurred by the financial collapse in the linked States emerged, which had implications for the productive sector. Devaluation of the dollar, high interest rates, reduced domest ic and export sales, credit crunch, high inflation, soaring oil prices, and skyrocketing input costs of raw material were some of the challenges experienced in the face of the world financial crisis.For the year 2008, the Jamaican economy contract by an estimated 0.6%. Real Gross Domestic Product (GDP) for the Goods Producing Sectors contracted by 3.0%, while the Services Sectors grew by 0.3%. The performance of the economy was adversely affected by the sharp rise in commodity prices, the incidental decrease in commodity prices due to the global financial crisis, decline in external demand for Jamaican goods and services, sharp decline in the accessibility of capital for fiscal budgetary support and private sector investment as well as the lingering effects of hurricane dean and tropical storm Gustav.The sector contributed 8.5% to GDP and the total employed labour force grew by 3.5% to 80,100 persons. For the period, total manufactured exports also increased amounting to US$1,224 .75 million, an increase of 37.5%. This was attributable chiefly to increased export earnings from Non-traditional Exports of US$1,094.7 million. However, the sector declined by 1.2% due to a challenging environment and the global financial crisis which contracted the performance of the Food, deglutition and Tobacco and Other Manufacturing components of the industry by 2.4% and 0.2%, respectively.Tourism IndustryJamaicas economy relies heavily on tourism, which has become the countrys largest source of foreign exchange. Most tourists remain on the island for several days or weeks, although increasing numbers disembark only briefly from cruise ships at Ocho Rios, Montego Bay and the newly renovated and opened Falmouth Pier. These and other towns on the northern coast, as well as Kingston, are the tourist sectors main bases of activity. Jamaica is famous for its pleasant climate, fine beaches, and superb scenery, including the waters of Montego Bay and the majestic glum Mountains.I ndustry PerformanceThe tourism industry has shown strong and sustained growth since Independence. The total number of visitor arrivals to Jamaica has grown from some 271,692 in 1962 and 670,202 visitor arrivals in 1982 to a total of 2,860,544 visitor arrivals in 2008, an annual increase of 5.3% over the 46 year period. The island saw a record 3,016,898 visitors in 2006. The islands tourism alteration stock increased from 10,327 rooms in 1982 to29,794 rooms in 2008, while total receipts from tourists grew from US$337.8 million in 1982 to US$1,975.5 million in 2008. The development of the tourism sector over this period has seen an increase in the relative importance of cruise passenger arrivals which grew from 29% of total visitor arrivals in 1982 to 38 % of total arrivals in 2008. There also has been the emergence of globally competitive Jamaican-owned all inclusive hotel chains such as Sandals, SuperClubs and Couples, and the diversification of tourism markets including growth in arrivals from the United Kingdom, Europe andthe Caribbean in addition to the traditional North American markets.As one of the best-known island destinations, Jamaica enjoys significant competitive advantages in Tourism and Travel Services. Based on its strong brand image, an appealing natural environment and human and cultural assets, the Jamaican Tourism industry has been determine as one of the key industrial clusters deemed capable of driving sustainable economic growth in the long term. Jamaica has had a long experience as a tourist destination, being a favoured retreat for travelers from Europe since the eighteenth century. The tourism industry, however, started in earnest in the late nineteenth to early twentieth century, with the first systematic efforts by Government to promote the industry, and by private investors to establish large hotels. The emergence of the industry coincided with the rapid economic growth of the United States, which has remained the main source of vi sitors up to the present.Jamaica has been one of the best-known resort vacation destinations in the world for decades. Originally known for its stunning physical beauty and as a playground for the rich and famous, the island has since seen its tourism industry experience significant growth and diversification. Jamaica currently boasts one of the most diverse visitor accommodation sectors in the Caribbean, including world-famous all-inclusive resorts, upscale hotels and villas, and a range of distinctive tourist accommodations and attractions.While the tourism sector is a major earner of foreign exchange there is a relatively high leakage of these benefits through imports of goods and services and payments of interest and investment income to overseas providers of capital. In order to retain more of the value added by the tourism sector linkages between the tourism and the other sectors of the economy, including agriculture, manufacturing and services need to be enhanced.In-depth ana lysis of the manufacturing industryManufacturing SectorThe Manufacturing Sector represents a critical component of the economies of many developing countries including Jamaica. Jamaicas manufacturing sector is diverse and modern. Products encapsulated under this sectors activities are beverages, processed foods, chemicals, plastics, cosmetics, pharmaceuticals, nutraceuticals and apparel. The island also produces spices and condiments, canned ackee and callaloo, as well as natural juices, soft drinks, beer, wines, spirits, and liqueurs.The manufacturing sector accounts for 12.8% of GDP per annum, employs approximately 7% of the labour force and is second in terms of sector contribution to real GDP. Jamaicas manufacturing sector grew during 2007 and contributed approximately 12.6% to total GDP, with total revenues exceeding US$700mn. Manufactured exports grew by 7.3% in 2007 to US$705.8 million, a reflection of higher export earnings from both non-traditional and traditional manufactu red products andtotal investment in the manufacturing sector facilitated by Jamaica Trade and Invest amounted to J$3.6 billion during 2007. These investments spanned several sub-sectors including agro-processing, plastics, petrochemicals and cement. The petrochemical sub-sector was positively impacted by the development of an ethanol dehydration facility at Port Esquivel, St. Catherine. Further expansion also took place in the plastics sub-sector and in the cement sub-sector through modernization and upgrading of clinker and cement production facilities.However, this overall picture of growth during 2007 was complemented by the Governments focus on increasing productivity in order to impact growth. Government implemented programmes that facilitated international competitiveness included worker skills training, technology upgrading, research and development, the Private Sector Development Programme (PSDP) and the Quality Jamaica Project, which includes training in Hazard Analysis Cri tical Control Point (HACCP). Manufactured exports represent approximately 12.6% of GDP in 2007, while the sector employs about 6.1% of the total labour force. Exports grew by 7.3% in 2007 to US$705.8 million, a reflection of higher export earnings from both non-traditional and traditional manufactured products.The global economic crisis in the last quarter of 2008, spurred by the financial collapse in the United States emerged, which had implications for the productive sector. Devaluation of the dollar, high interest rates, reduced domestic and export sales, credit crunch, high inflation, soaring oil prices, and skyrocketing input costs of raw material were some of the challenges experienced in the face of the world financial crisis.For the year 2008, the Jamaican economy contracted by an estimated 0.6%. Real Gross Domestic Product (GDP) for the Goods Producing Sectors contracted by 3.0%, while the Services Sectors grew by 0.3%. The performance of the economy was adversely affected by the sharp rise in commodity prices, the subsequent decrease in commodity prices due to the global financial crisis, decline in external demand for Jamaican goods and services, sharp decline in the availability of capital for fiscal budgetary support and private sector investment as well as the lingering effects of hurricane Dean and tropical storm Gustav.The sector contributed 8.5% to GDP and the total employed labour force grew by 3.5% to 80,100 persons. For the period, total manufactured exports also increased amounting to US$1,224.75 million, an increase of 37.5%. This was attributable mainly to increased export earnings from Non-traditional Exports of US$1,094.7 million. However, the sector declined by 1.2% due to a challenging environment and the global financial crisis which contracted the performance of the Food, Beverage and Tobacco and Other Manufacturing components of the industry by 2.4% and 0.2%, respectively.Economic outlook for the Manufacturing sectorA more economi c perspective for the Jamaican manufacturing is to see interest rates trending down, Banks beginning to make loans and sustained stability in the exchange rate. This sector is showing some renewed buoyancy and has shown significant growth over the last two quarters. Despite the tough economic conditions, manufacturing is predicted to contribute positively as this area will be a focal part for the government as this area should harness more growth and development. The government expects to boost this sector to create employment through the money it receives from the International Monetary Fund (IMF). We expect that this will continue, as this is a very important sector representing a large chunk of overall GDP. So whatever happens to manufacturing will have an overall impact on the economy. These are some very good investment opportunities for the manufacturing sector for the coming years.Agro- processing Canned vegetables and canned harvest present good opportunities for investment in the food processing sector.Chemicals and chemical products Reference is being made particularly to aluminium sulphate, detergents and paints, which showed steady growth in 2007. This is expected to continue as the construction industry is projected to grow by 4.5 percent in 2008 which will be facilitated by the growth in Non-residential and hotel sectors as well as expansion of the sea and airports.Bio- technology Jamaica is blessed with a number of indigenous herbs which can be used in the progress of health and wellness.Food processing, Beverages and Tobacco The food processing sector grew by 3.3 per cent in 2007, while growth in the beverages and tobacco sun-sectors stood at 1.8 per cent. These sectors are expected to grow due to the anticipated increase in the food production.For the Manufacturing Sector in Jamaica the identification of strengths and weaknesses represents the internal assessment of the sector while the reflexion of opportunities and threats represents the analysis of the external environment for the sector.STRENGTHSSourcing and ProcurementCurrent availability of high quality raw Jamaican materials (including agricultural products, limestone, cement)Strong international supply relationships simplification of duties on imported raw materialsProductionLargest contributor to GDP of all goods-producing sectorsWorld-class enterprises in several manufacturing subsectors and industries (including food processing and beverage industries, paint, plastic containers) expertness to make high quality productsNumerous small and diverse production facilities allowing for a range of focused niche markets and productsEnvironmentAvailability of some discolour raw materialsLimited use of environmentally friendly/clean production technologiesFinanceDownward trend in deposit interest rates do equity investments in manufacturing relatively more attractiveHuman ResourcesLarge employer of labourPool of trainable workforceInnovativene

Earthing System Lightning

earthing System Lightning1.1Introduction Earthing remains electrodes atomic number 18 used to divert spirited currents to the macrocosm. in that locationfore a proper design of an orbing formation is compulsory to flash high currents magnitude to the earth safely regard slight the blot typewrite. Lightning and other surges subject the electrical power system to high magnitude and fast rise-time transient currents and potential differences requires dissipation to earth in controlled methods. In order to minimise cost to the electrical equipments and base hit measures wealthy person to be taken to protect the human beings. On high voltage transmission and dissemination systems, lightning protection and insulation co-ordination schemes atomic number 18 employed to protect power system equipment from damage. The main factor that determines the effectiveness of these schemes is the farming underground properties of the earth.In this thesis, the performance of plagia rise turbine hide systems subjected to power absolute frequency and impulses is investigated by considering both their high frequency and transient behaviour.1.2 Earthing System FunctionsEarthing systems are knowing primarily for power frequency earth fault conditions. However, certain plant within substations such as surge arresters will provide a path to earth for transient currents and in such cases the stocks press the installation of a high frequency earth electrode, usually an earth rod 1.1. High frequency earth electrode means that the earth rod is to dissipate to earth all the high frequency components of the transient. In practice, all the parts of the earthing system are interconnected and may play a graphic symbol in the dissipation of both power frequency faults and surges. In the case of wind turbine there will earthing termination system especially designed for lightning protection..1.3 Components of earthing systems Generally, substation earthing grids consist o f a system of conductors buried in the ground occupying an area related to the dimensions of the substation. Additional components may include the metallic sheaths of cables and earth wires of tower lines and their associated tower footings. These extended earth systems emanate from the substation and are bonded solidly to the earth grid. The performance of these components is difficult to predict because soil has a non-homogeneous resistivity ranging from 10 to 10,000 m 1.2.1.4 arc turbine earthing systemIEC 61400-24 IEC technical Report of wind turbine generation lightning protection 1.3 states that each turbine must be equipped with its own earth termination system, even if it connected to a general wind farm earthing system. The report 1.3 described the basic requirements for lightning protection of the windfarm. Earthing systems should be designed in accordance with ICE 61024-1 type of lighting protection of structures 1.4. This standard recommends two types of earth electrod e systems for wind turbines and are referred to as type A and lawsuit B arrangements.1.4.1Type A arrangement This type employs of horizontal or vertical electrodes connected to each raze conductor in the case of wind turbine the down conductor would be the wind turbine tower.1.4.2Type B arrangement This type uses a ring earth electrode external to the structure soil. A wind turbine normally uses the Type B arrangement with a ring earth electrode placed around the foundation reinforced 1.3 as can be seen in Figure 1. in the standard the ring earth requires to be in contact with the soil for at least 80% of its total length of a foundation earth electrode. The ring electrode should be buried to a depth of at least 0.5m. However, Additional vertical and horizontal earth electrodes may be used in combination with the ring electrode. The radius of the ring electrode will therefore normally be defined by the radius of the turbine foundation and extra conductors may have to be installed as stated below.Figure 1. Typical wind turbine earthing arrangement Foundation reinforced bar normally bonded to lightning protection earth straighten out viewWind turbine tower 2m vertical electrodesTransformerIf the recommended 10W resistance by 1.4 is not achieved then an additional horizontal or f vertical electrodes may be used in combination with the ring electrode.Also, in the standard it states that no more than 50m of the horizontal electrode can be attached to the wind turbine, may be a low resistance value achieved, but could have high transient impedance due to high series impedance of the conductor.1.5 Soil resistivityConduction properties of soil are historic, particularly its specific resistivity. The soil resistivity is one of the main factors determining the resistance of both earth electrode. Most soils and rocks are poor conductors of electricity when dry. The exceptions to this are certain mineral bodies. However when soils contain water, the resistivity drop s, and they may then be considered as moderate conductors, although they are truly poor when compared with metals. For example, pure copper resistivity is 1.6cm whilst a quite normal value for soil would be 10,000 cm. The resistivity is determined by the following factorsa) type of soil b) chemical composition of the soil c) concentration of salts dissolved in pore water d) overall moisture content e) temperature f) grain size and the distribution of grain size 1.2.1.6Tolerable voltage During a ground fault on a transmission line, a number of towers near the fault are possible to acquire high authorisation. Potential gradients are in any case set up in the ground surface and these may present a hazard to human and livestock. These hazard voltages are generally referred to as touch and step potentials, which are defined 1.5 as followsa) The touch potential is the difference between the earth potential rise (EPR) and the surface potential at the burden where a person is standing , while at the equivalent time having his hand in contact with a ground structure 1.5.b) The step potential is the difference in surface potential experienced by a person bridging a distance of 1m with his feet without contacting any other grounding object 1.5.There are limits placed on the allowable EPR of an earthing system as stated in International telecommunication Union ITU-T 1.6. These limits are as follows.650 V for sites fed from high reliability lines where faults are rare and cleared quickly (200 ms maximum).430 V for sites fed from lines having standard protection.The limits of touch and step potentials are related to the current that can be withstood by a human body before there is a sound risk of fatality 1.5, 1.7. A magnitude in the order of 50mA is sufficient to cause ventricular fibrillation, which will normally result in death 1.8-1.9.1.7 banner Lightning proneness The lightning impulse is characterised by three parameters, the peak current magnitude, the time to peak current and time to half peak current which is the time required for the current impulse to decay to half of its peak magnitude. However, standard lightning impulse shapes are generally described by the peak current or voltage and the time to the peak T1 and the time to the half peak T2 and usually written as T1/T2 in microseconds defined as the rise-time. e.g. a 10kA, 5/20ms.Figure 1.2 Lightning ImpulseLightning impulses are usually described by their peak current (or voltage) and by T1 and T2 written as T1/T2 in microseconds. e.g. a 10kA, 5/20ms impulse.1.7 Standards Applicable to Earthing Systems There are UK and international standards provide guidelines to different earthing systems configurations design. These standards are concerned with power frequency earthing systems design and give limited guidance when earthing system subjected to transient conditions. These standards areEngineering Association Technical Specification 41-24 (EA TS 41-24), Guidelines for the trop e, Testing and Maintenance of Main Earthing Systems in Substations (UK) 1.1. This standard recognises that equipment such as surge arresters and CVTs are more likely to pass high frequency current due to the low impedance they present to steep fronted surges. This standard suggests that unless a low impedance earth connection is provided, the effectiveness of a surge arrester may be compromised. It is therefore recommended that the connection from the equipment to earth should be as short, and as free from changes in direction, as is practicable. Another guideline in the same standard states that the effectiveness of a surge arrester can be improved by placing a high frequency earth electrode in its immediate vicinity. The standard does not specify any quantitative limits such as over all earthing impedance limit.ANSI/IEEE standard 80 1.5 Guide for safety in AC substation grounding widely used throughout the world. This standard does not provide detailed guidance for designing for e arthing systems subjected to transient conditions. However, it considers that an earthing system that is designed to be safe for power frequency faults should also be safe for transient faults. This is based on the assumption that the human body can withstand higher currents for very short duration. It also considers the safety issues and defines the touch and step potential and provides equation which can be calculated.CENLEC HD 637 SI, Power Installation Exceeding 1kV ac or 1.5kV dc 1.10. The standard provides measures to reduce the count of interference created when surges are dissipated to earth. These measures include reducing the inductance of the current path by significantly meshed the earthing system. Moreover, the connection to the earthing system should be as short as possible. BS 6651 3 Protection of structures against lightning the standard recommends that the earthing system designed for lightning protection should have an earth resistance of less than 10W. The same r equirement appears in BS 61400-242002 Wind turbine generator system __ Lightning protection with some details regarding earthing system arrangements as mentioned previously.1.9 Aims of the researchWind turbines become the largest growing electrical energy in the world.Wind farms, however, have particular requirements for earthing compared with conventional electrical installations. They are often very extensive, stretchiness over several kilometres and subject to frequent lightning strikes due to the height of the structures and their location on high rocky terrain with associated high earth resistivity. Consequence of these developments, there is an growth in fault current associated with windfarms and an increase in the probability of a lightning strike a wind turbine. Therefore, the protection of human beings and livestock becomes more important due to the trend towards large scale high capacity wind farms.The aims and the objectives of this work therefore can be summarised by the followingTo review the methods that representing the wind turbine earthing system and their limitations To develop models that produce more accurate results.To use computer simulation to overcome problems in modelling of the wind turbines earthing systemTo mail out computer simulations in order to investigate the importance of the wind turbine steel tower in modelling of wind turbine earthing system.Design mitigation techniques for fast surge injections.To carry out soil resistivity using a 2-D technique in order to obtain a soil model to be used for Wind Turbine earthing simulations.To carry out dc, ac and impulse measurement of resistance/ impedance of an isolated wind turbine.To carry out dc, ac and impulse measurement of resistance/ impedance of the wind farm interconnected at the location of wind turbine used in point above.To carry out measurement of safety voltages (step and touch voltages) around an isolated wind turbine.To carry out measurement of safety voltages (step and touch voltages) around the same wind turbine when its earthing system is bonded / connected to the wind farm earthing network.To obtain details of the design and construction of the test wind turbine (s) for CDEGS simulation purposes.To heap conclusions and suggest recommendations for a better estimation of Wind farm earthing systems and related safety precautions.1.10 References1.1 Technical Specification 41-24, Guidelines for the Design, Testing andMaintenance of Main Earthing Systems in Substations, ElectricityAssociation, 1992.1.2 Tagg, G. F. Earth Resistance. Gorge Newnes Limited. (London), 1964.1.3 IEC Technical Report, Wind Turbine Generation System -24 Lightning Protection, TR61400-24, 2002.1.4 IEC International Stand Protection of Strictures against Lightning IEC61024-1998.1.5 IEEE guide for safety in AC substation grounding, ANS/IEEE standard 80, 2000.1.6 ITU-T (International Telecommunication Union) Calculating Induced Voltage and Currents in Practical Cases. Volume II, 1999 1.7 International Electrotechnical Commission IEC Report 479-1 Effects of current passage through the human body, IEC, 1984.1.8 Electricity Association Engineering Recommendation S.34 A guide for assessing the rise of earth potential at substation sites. Engineering Management Conference, may 1986.1.9 IEEE IEEE Std 81.2-1991, IEEE Guide for measurement of Impedance and Safety Characteristics of Large, Extended of Interconnected Grounding Systems, The Institute of Electrical and Electronic Engineers, New York, 1991.1.10 HD 637S1, Power Installations Exceeding 1kV AC, European committee for Electrotechnical Standardisation (CENELEC) 1999.1.11 BS 6651, Code of Practice for Protection of Structures Against Lightning,British Standards Institution, 1992.

Superman vs. Christ Essay -- essays research papers

Faster than a speeding bullet, stronger than a locomotive, jumps tall buildings in a single bound. Superman is known throughout the world for being the savior of a city called Metropolis. In every comic book, movie, or execution figure ever presented to the public, Superman is a handsome, strong man who can defeat all odds at all times. The movie Superman was a success, showing how the superhero saved lives and yet lived a humble life. As one watches the movie, though, he might notice the many similarities between the plot of the movie and the narrative of Christs coming. Superman, savior of the city Metropolis, mirrors the Savior of the world, Jesus Christ.Throughout the movie Superman, the names and the actions of the characters were similar to those of the Holy Bible. Two of the major name references to the scriptural version deal with Superman (Kah-lel) and his father, Jor-el. In the Greek language, the name Jor-el means God, while the name Kah-lel means Little God. Another in stance where the name lame is played is in the case of Supermans parents, Martha and John. It does not seem as if there is any other way to make these names be closer to Mary and Joseph, who are the parents of Christ. Zod and Ursula are two other characters present in the movie whose names may not be similar to those in the Bible, but represent the devil and all that is considered evil. These are some of the examples of how the use of names plays an important role in linking Superman the movie to th...

Artists Should not be Resposible for Explicit Lyrics and their Impact on Kids :: Argumentative Persuasive Essays

Artists Should not be Resposible for Explicit Lyrics and their Impact on Kids Turn that music off I dont want you earreach to that kind of music. Many teens these days be experiencing this kind of thing almost every day. Many parents, in general, pass complained and tried to regulate the music that teens are listening to these days. They complain that the music industry shouldnt be able to sell and produce the pellucid CDs. The music industry gets a lot of criticism some the music that they put out on the market. Most of the criticism comes from the parents. There are bills passed, such as the Parental Advisory Program, which enforce that CDs with explicit lyrics have to have a label on them that state, Explicit Lyrics or Explicit Content (Parental Advisory). This sticker cautions the person who buys the CD that there is bad language or content. The recording industry takes serious responsibility to help parents identify the music with explicit lyrics.The battle betwe en the parents and the music industry still continue to this day. The Parents practice of medicine Resource Center (PMRC) still thinks that there should be more of a regulation on the music than what there is now. The gangsta rap is just to vulgar for young teens to be listening to. It brainwashes them and sometimes even persuade them to do unlawful things (Hip-Hop Lyrics). On the other hand the music industry has the Parental Advisory Program. Therefore if the CDs with the explicit lyrics were restricted in any way it would bring unconstitutional obstacles on the First Amendment right of artists to express themselves freely, and their fans right to hear what the artists express whatever the submit might be (Explicit Lyrics). Many say, What about Cop Killer doesnt that depict that they go out and gunning down cops as a hobby of some sort. Rapper Ice-T himself comes back with, Cop Killer is a work of musical fiction used in the hip-hop world (Hip-Hop Lyrics). Some people ar gue that the explicit lyrics label actually boosts the sales by drawing attention to the labeled album. Warning labels sell albums. A lot of groups want warning labels (Between...Place). Many believe that stores should have more of a restriction on which they sell the explicit CD too.

I Know Why The Caged Bird Sings. :: essays research papers

The Effects of One Person Upon The WorldFrom an apprehensive child growing up in a small town in Arkansas, Maya Angelou has evolved into an influential, wise, and respected wo mankind. She has overcome obstacles and has grown into one of the lite intellectual people of this country, and perhaps the world. Along her numerous struggles, various people stand given her compulsive guidance and passed down their knowledge to her. Among these people was Mrs. Bertha Flowers, a person in which Maya respected greatly. She was a dignified person that Maya could strive to achieve the gratitude that Mrs. Flowers gave to the people near her, a sense of appreciation. In her life story, I Know Why the Caged Bird Sings, Maya Angelou attributes her characteristics she has acquired today, being influential, wise, and respected, to Mrs. Flowers, who shows her the power of a juncture, the knowledge of literature, and pride in her race, and turns a self-conscious girl, into one of the most profound w riters of our time.Mrs. Flowers enlightened Maya on the importance, and dominant effect, of expression through an individual voice. Earlier in her life, Maya was sexually molested and raped, and as a result, became dormant towards society. This was such a traumatizing event in her life that struck her obviously, in a physical sense, but moreover, mentally. Where she was once a brilliant trounce child, she became a quiet, somber adult. As a result of this, Mrs. Flowers stepped in and told Maya to, &8220&8230bear in mind, language is man&8217s way of communicating with his fellow man and it is language alone which separates him from the lower animals. The intellect and beauty of Mrs. Flowers was shown through this quote which she educated Maya. If that was the only thing she ever mentioned to Maya, the beauty of the words alone could have changed her from a cocoon sleeping in the darkness, into a butterfly fluttering alongside the sun. Without Mrs. Flowers introduction and reasoning to speech, Maya would never have realized the power of the voice and would have been dormant from society the rest of her life.In addition to the importance of voice, Mrs. Flowers opened Maya&8217s to literature, and the knowledge it brings. Earlier in Angelou&8217s life, she was interested in comics and some poetry, but now a new outlook was imposed upon her, the power literature.

1015 Folsom Night :: essays research papers

There atomic number 18 many night monastic orders in the city of San Francisco and passim the Bay area. There is two different kind of nightclub. One is the high-class nightclub, which the cover charge is more expensive, tight security and the nightclub itself is more exclusive. The opposite one is the lower class club, which all tribe can enter and the security is not that tight. Nowadays, most nightclubs are the same. Nightclub used to be for people to meet their wizs and having fun to goher but nowadays many people misuse nightclub as a place for using drug. I neer like to go to nightclub because the place is very noisy, dark and lastly drugs are often involve in nightclub.It took me a few hours to decide which club to go. I am a person who likes to stay at home watching television, playing video games and surfing through the Internet. Well, it was very hard for me to go out, as my legs felt heavy to walk through the front door. After a long struggle, then I forced myself t o go to a nightclub. My friend recommended me to go to 1015 Folsom nightclub because the songs are funkier. The club is located at Folsom street, downtown San Francisco.We arrived at 1015 Folsom around 11.45pm. Many people were still lining up to get into the discotheque. I didnt know why people like to go to such a dark and noisy place like that. Anyway, people who were there are mostly dressed up. Some of them looked interesting. My attention went to an old man about 50-60 years old man who were already dressed up and ready to contention his world. I wondered why would the old man go to a nightclub. May be he was lonely or may be he was fairish looking for fun and excitement. Well, I didnt really know.Ten minutes after lining up, I went inside the nightclub. From the door, I could hear the song and the beat of the abstruse so loud that my heart could feel it. Inside the nightclub, I saw people were dancing everywhere, on dancing floor, on their own seats, everywhere. They would dance and dramatize a big gulp of their beer. Even the bartenders were dancing too, following the rhythm of the loud funky music. The rainbow rays of light moved through the club to make the bodily fluid even more exciting and funky.

Reincarnation Essay examples -- Law of Karma Papers

Reincarnation I suppose in the world, today, there are really three approaches to the thought of reincarnation. A two-fold unmatchable in the West, where the idea itself is almost non-existent, either a belief in the transmigration of souls - that you could be a human being in one carriage and an animal in the next, and therefore that there is great danger in swiping flies and treading on ants because it could be your grandmother -- or simply an reside in past lives. That is almost the sole interest in the concept of rebirth in the West. In the East, broadly speaking, people do believe in reincarnation and, correctly, in relation to the impartiality of Karma. Unfortunately, even in the East, the Law of Karma is seen from an erroneous point of view. Of course, here and there, both in East and West, there is a correct interpretation and approach to the idea of rebirth, and its close connection with the Law of Action and Reaction, Cause and Effect. In the Orient, most peop le believing in the Law of Karma accept that they are who and where they are because of their actions in a previous life, which is true only if, unfortunately, they think they can do nonhing about changing their particular situation, which is not true. In the West, we tend to think that we are totally in control of our destiny, which we are to some extent, but that there is no greater law governing our destiny, which is not true. The Westerner tends to reject the idea of a future life. It is an idea which is only just beginning to engage peoples minds. If he thinks about it at all, he really thinks about it in terms of If I have a future life, I must have had a past life and if I had a past life it is interesting to know w... ...ally artificial and man-made. The poverty, the squalor, the degradation and the misery of people in the Third World is not necessary, it is not a result of karma, but of our greed. And we have the major responsibility to help them change these conditi ons and enter true living. People think of karma as always from the past life, but what about yesterdays karma, or the day before, last weeks, last months karma? It is this succession of moments of action and reaction which today we are coping with, which tomorrow and in our next life we will cope with. Until we come into right relationship with each other and with the whole of which we are a part, we will go on making fully grown karma. It is more important, more useful, to realize the benefit of right relationship, thus handling the Laws of Karma and Rebirth correctly, than to know our past lives.