The effect of foreign aid on economic growth in developing countries Article PDF Available January 2010 with 15999 Reads Export this citation E M Ekanayake BethuneCookman University Dasha Chatrna Abstract This paper analyzes the effects of foreign aid on the economic growth of developing countries The study uses annual data on a group of 85 developing countries covering Asia Africa and Latin America and the Caribbean for the period 19802007 The hypothesis that foreign aid can promote growth in developing countries was explored This hypothesis was tested using panel data series for foreign aid while accounting for regional differences in Asian African Latin American and the Caribbean countries as well as the differences in income levels While the findings of previous studies are generally mixed the results of this study Discover the worlds research 15 million members 118 million publications 700k research projects Content uploaded by E M Ekanayake Author content Download fulltext PDF Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 1 The effect of forei gn aid on econo mic grow th in devel oping countries E M Ekanayake BethuneCookman Universit y Dasha Chatrna University of Florida Abstract This paper analyzes the e ffects of foreign aid on the economic growth of developing countries The stud y uses annual data on a group of 85 developi ng countries coverin g Asia Africa and Latin Americ a and the Caribbean for the period 19802007 Th e hypothesis th at foreign aid can promote growth i n developing countri es was explored This h ypothesis was tested using panel data series for forei gn aid while accounting for re gional differences in Asian African Latin American and the Caribbean count ries as well as the differen ces in income levels While the findings of previous studies are generally mix ed the results of this stud y also indicate that foreign aid has mixed effects on economi c growth in developing countries Keywords Foreign aid e conomic growth developi ng countries Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 2 Introduction The role of foreign aid in t he growth process of developin g countries has been a topic of intense debate Foreign a id is an important topi c given its impli cations for poverty reduction in developing countries Previo us empirical studies on foreign aid and economic growth generate mixed results For ex ample Papanek 1973 Dow ling and Hiemenz 1982 Gupta and Islam 1983 Hansen and Tarp 2000 Burnside and Doll ar 2000 Gomanee et al 2003 Dal gaard et al 2004 and Karras 2006 find evidence for positive imp act of foreign aid on growth Burnside and Dollar 2000 and Brauti gam and Knack 2004 find evidenc e for negative impact of foreign aid and growth wh ile Mosley 1980 M osley et al 1987 Boone 1996 and J ensen and Paldam 2003 find evidence to su ggest that aid has no im pact on growth It should be noted that although Burnside and Doll ar 2000 concluded that forei gn aid has posi tive effects this conclusion applies onl y to economies in which it is combined wit h good fiscal monetar y and trade policies A recent stud y by Doucouliagos and P aldam 2009 using the metaanal ysis covering 68 papers containin g a total of 543 direct estim ates it is found that the effect of aid on growth estimates scatter considerabl y and add up to a small positive but insignificant effect on growth The zero correlation result has yet to be overcome The main role of foreign aid i n stimulating economi c growth is to supplement dom estic sources of finance such as s avings thus increasing t he amount of investmen t and capital stock As Morrisse y 2001 points out there are a number of me chanisms through which aid can contribute to economic growth i ncluding a aid increases investm ent in physical and human capital b aid increases the capacity to import ca pital goods or technolog y c aid does not have indirect effects that reduce invest ment or savings rates and aid i s associated wi th technology transfer that increases the producti vity of capital and promot es endogenous technical chan ge According to McGillivray et al 2006 four main alternative views on th e effectiveness of aid have been suggested namel y a aid has decreasing returns b aid effectiveness is influenced by external and climatic conditions c aid effectiveness is influenced by politi cal conditions and d aid effectiveness depends on i nstitutional quali ty It is interesting to note th at in recent years there has been a si gnificant increase in aid flows to developing coun tries although other t ypes of flows such as foreign d irect investment and other private flows are decli ning For example acc ording to the Organization for Economi c Corporation and Development OECD 2 009b foreign direct investment a nd other private flows are on the decline and remi ttances are expected to drop significantl y in 2009 Budgets of man y developing countries were hi t hard by the rises in food and oi l prices in the last t wo years Many countries are not in a stro ng fiscal position to address the curr ent financial crisis According to the OECD 2009b in 20 08 total net official developm ent assistance ODA from members of the OECDs Developme nt Assistance Commi ttee DAC rose by 102 in real terms to US1198 billi on and is expected to rise to US 130 billion b y 2010 Africa is the largest recipient of foreign aid see Table 1 Fo r example net bilateral ODA from DAC donors to Africa in 2008 totaled U S26 billi on of which US225 billi on went to subSaharan Africa Excluding volatile debt relief grants bilate ral aid to Africa and subS aharan Africa rose b y 106 and 10 respectivel y in real terms Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 3 Given the importance of foreign aid to the econom ies of developing countries i t is important to understand its contribution to economic growth of developin g countries Therefor e this paper analyzes the ef fects of foreign aid on the economic growth of developin g countries These effects are anal y ze d using panel data series for foreign aid while acc ounting for regional differences in Asian African Latin American and the Caribbean countries as well as the differences in income lev els One of the contributio ns of this paper is its inpu t to the existing empirical literature on the effects of forei gn aid on economic growth of developing countries through its thorough analysis coverin g a large number of dev eloping countries as well as a lon ger time period The stud y focuses on the time period 198 02007 In order to better understand th e effect of aid on growth a s well as any change of its effect over time three separat e models for shorter time periods namel y 19801989 19901999 and 20002007 were also esti mated Even though it is the 21st centur y many developing countries still face the issue of serious resource problems A l arge portion of these countries are in the on going battle with severe debts and strictl y dependent on their financial aid inflows Sadl y the burden placed on these countries b y debt servicing is too often overwhelming Moreover o fficial development assistance ODA flows have fallen ov er the past decade and developin g countries need to search for alternative wa ys to become more effect ive with the utiliz ation of aid inflows via the right policies and seek inn ovative methods to attract addi tional aid Due to the importance of this topic the imp act of foreign aid has been the subject of ver y extensive investigation The ke y question that both th e donor and the recipient countries qu estion is whether aid has an y effect on developing countries growth and their lev el of povert y This issue has been approached from various perspectives nevertheless a single and definite answer Table 1 Major Re cipients of Foreign Aid 19862007 1986 1987 19961997 20062007 Total ODA US Million 41093 59534 116413 Distribution o f Foreign Aid by Country Group Country Group 1986 1987 19961997 20062007 Developing Co untries 253 196 224 Other Low Income Countr ies 130 148 189 LowMiddleIncome Countries 297 329 313 UpperMiddleIncome Countries 64 61 42 Unallocated 158 209 232 Total Bilateral 1000 1000 1000 Distribution o f Foreign Aid by Region Region 1986 1987 19961997 20062007 Sub Saharan Africa 266 234 313 South and Centra l Asia 129 102 105 Other Asia and Oc eania 182 214 127 Middle East and North Africa 160 127 161 Latin America an d Caribbean 115 133 74 Europe 25 34 36 Unspecified 123 156 184 Total Bilateral 1000 1000 1000 Source Organizati on for Economic Corporat ion and Development OECD Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 4 still does not exist Therefore it is important to note that not only factors such as the amount and type of financial aid impact the effe ctiveness of available funds but also t he appropriate use of these funds b y the receiving country pla ys a vital role The paper is structured a s follows The next section presents a surve y of literature whereas Section 3 presen ts the specification of the econometric model and data sourc es The empirical results are presented and discussed in S ection 4 and finall y Section 5 summariz es the main results and concludes wit h some policy impli cations Literature Review The relationship between forei gn aid and economic growth h as drawn great attention for years but the empirical results are mixed There is now a lar ge literature on the relations hip between aid and growth For a recent comprehensiv e survey of the theoretic al and empirical literature on foreign aid and growth see Hudso n 2004 and McGillivra y et al 2006 A study conducted b y McGillivray 2005 demonstrates how aid t o African countries not only increases growth bu t also reduces povert y Furthermore the author point s out the important fact that continuousl y growing povert y mainly in subSaharan African countries comprom ises the MDGs Millennium Development Goals main target of droppin g the percentage of people living in extreme povert y to half the 1990 level b y 2015 His research econo metrically analyzes empirical time series data for 19681999 Th e paper concludes that t he policy regimes of each country such as inflation and t rade openness influence the amounts of aid receiv ed Ouattara 2006 anal yzes the effects of aid flows on key fiscal aggre gates in Senegal This paper utilizes data over the perio d of 1970 2000 and prim aril y foc uses on the int eraction between aid and debt The author dete rmined three main outcomes of hi s study First that a large portion of aid flows approx imatel y 41 are used t o finance Senegals debt and 20 of the governments resources are devoted to d ebt servicing Second th at the impa ct of aid flows on domestic expenditures is statisticall y insignificant and third that debt servicing has a significant negative effect on domestic ex penditure As a result his paper suggests that debt reduction could become a more successful policy tool than obtaining additional loans Addison Mavrotas and M cGillivray 2005 exam ine trends in official aid to Africa ov er the period 1960 to 2002 The authors lar gel y e mphasiz e the tremendous decrease in aid over th e last decade which will hav e an impact on Africans li ving in poverty and the African econom y as a whole As a result of th e shortfall in aid the MD Gs will be much harder if not im possible to be achieved This paper con cludes that aid in fact does promot e growth and reduces povert y Furthermore it also positi vely impacts public sector aggregates contributi ng to higher public spending and to lower dom estic borrowing Nevertheless it is apparent that th e MGDs can not be achieved with development aid alone but other inn ovative sources of developm ent finance need to be explored as well A study by Karras 2006 i nvestigates the correlation between forei gn aid and growth i n per capita GDP using an nual data from the 1960 to 1 997 for a sample of 71 aidreceiving developing countries This paper concludes that the effect of forei gn aid on economic growth is positive permanent and st atistically significant More specifi call y a perm anent increase in foreign aid by 20 per person result s in a permanent increase in the growth rate of real GDP per capita by 016 percent These results ar e obtained without considering the effects of polici es Gomanee Girma and Morriss ay 2005 address directl y the mechanisms via which aid impacts growth Using a sample of 25 SubSahara n African countries over the period 1970 to Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 5 1997 the authors determined th at foreign aid has a significant posit ive effect on economic growth Furthermore they identified investment as the most s ignificant transmission m echanism This paper concludes that on average each one percenta ge point increase in the aidGNP ratio contributes onequarter of one percenta ge point to the growth rate As a result Africas poor growth record needs to be attribut ed to factors other than aid ineffe ctiveness Rather than using a large pool of data for numerou s developing countries Quarte ys 2005 research focuses on innovative wa ys of making financial aid effect ive in Ghana The author concluded that ma inly MDBS multidonor bu dgetary support could be successful but only if the government of Ghana and its partners plan better and coordinate their efforts Moreover the government needs to wo rk on reducing its debt burd en so it would n ot use its aid inflows to service its debt The author suggests that the MDBS c annot be full y successful until it is entirely synchronized with o ther forms of project aid and until t he inflows become more predictable In his research Ram 2004 look s at the issue of povert y and economic growth from t he view of recipient countr ys policies as being the ke y role in the effectiveness of forei gn aid Nevertheless in his pape r the author disagrees with the widelyacknowledged vi ew that redirecting aid toward countries wit h better policies leads to higher econo mic growth and poverty reduction rates As a result b ased on his research the author concludes that evidence is lacking to support the leadi ng belief that directing forei gn assistance to countries wit h good policy will increase the i mpact on growth or povert y reduction in develop ing countries Methodology and Data Specification of Model This section discusses the model s pecifications to ex amine the relationships between foreign aid and per capita GDP growth The models specified are estimated usi ng panel least squares estimation metho d The model is derived in conventi onal manner from a production function in which foreign aid is introduced as an input in addition to labor and domestic capital In the usual notation t he production function can be written as follows 1 where Y is gross domestic product GDP in real terms L is labor input K is dom estic capital stock and A is stock of foreign aid Assuming 1 to be linear i n logs taking logs and d ifferencing the following expressi on describing the determina nts of the growth rate of real GDP is obtained a k l y φ δ β α 2 where lower case letters denote the rat e of growth of individual v ariables Following the precedent set in numerous p revious studies the rate of growth of the capital sto ck is approximated b y the share of investment in GDP This is necessary due to the formidable Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 6 problems associated with att empts to measure the capital sto ck especially in the contex t of developing countries In additi on the rate of change in labor inpu t is also replaced b y the growth rate of population Following Karr as 2006 and ot hers several other variabl es that are often believed to have a favorable effect on growth are also included As p ointed out b y Feeny and McGillivray 2008 a reasonabl y robust finding of recent studi es is that there is an inverted U shaped relationship between aid and growth This finding indicates th at there are diminishing returns to aid due to recip ient countries having absorpti ve capacity constraints Absorptive capacity relates to an aid recipients abilit y to utiliz e foreign aid inflows effectivel y In order to take into account this relations hip a square term is added to the follo wing model Th ese changes yield the following growth equation it it i it it it it it e INF GDP GDP AID GDP AID GDP INV GPO P GGDP 6 0 5 2 4 3 2 1 0 ln β β β β β β β 3 where it GGDP is the growth rate of real GDP per capita of countr y i in year t it GPOP is the growth rate of population of countr y i in year t INV is the investment of countr y i in year t AI D is the foreign aid of cou ntry i in year t i0 GDP is the initial level of GDP of count ry i and it INF is the inflation rate of countr y i in year t The growth rate of population is a prox y for the growth rate of labor force and the inv estmentGDP ratio represents the growth rate of capital stock Regional dummies income level dummies a dumm y variable representing ethnic wars and a variable representing the economi c freedom are also introduc ed The main concern is to test whether the marginal impact of foreign aid on growth 3 β is positive or negative and statisticall y sig nificant T he expected signs of the coeffi cients 1 β and 2 β are positive and that of 3 β either positive or negative 4 β is negative and that of 5 β and 5 β are negative Variable Description and Data Sources In order to test the implic ations of these models a panel of a ggregate data on forei gn aid on a large number of developing countri es was collected The entire data s et includes 85 countries for which foreign aid and all ot her relevant variables are reported over the 19802007 period The sample of coun tries consists of 25 lowincome countries 29 l owmiddleincome countries 22 highmiddleincome count ries and 7 highincome countries The list o f countries used in the empirical ana lysis is given in Appendi x Table 1 The economic growth rate is m easured in this study as the growth of r eal GDP per capita in constant 2000 US d ollars The data on real GDP are from the World Bank World Development Indicators database The growth rat e of population is used as a prox y f or the growth rate of the labor force The data on popul ation are from the World Bank World Development Indicators database The investment GDP ratio is used as a pro x y for the growth rate of the capital stock S ince the investmentGDP ratio is not reported for the majorit y of the developing countries gross fix ed capital formation as a share of GDP is used to represent investmentGDP ratio The data on fo reign aid are from the Or ganization for Economic Corporation and Development OECD OEC DStat onl ine database and from the Unit ed Nations Conference on Trade and Development U NCTAD Handbook of Statistics 2008 database Inflation rate is defined as t he annual percentage change in Cons umer Price Index CP I The Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 7 data on inflation rate are from the International Monetar y Fund World Economic Outlook database October 2008 The data on ethnic war variable are from the W orld Bank The data on economic freedom are fr om the Freedom House T he Freedom in the World 20 08 database Empirical Results The results of the empirical anal ysis are presented in Tables 2 3 and 4 First model 3 was estimated for four di fferent time periods 19801989 1990 1999 20002007 as well as fo r the entire period of 198020 07 The results of this anal ysis are presented in Table 2 Then the model was estimated for different re gions namel y Asia Africa and Latin America and the Caribbean The results of t his analysis are presented i n Table 3 Finall y the model was estimated for different income level s namely low income low mi ddle income upper midd le income and all income levels The res ults of this anal ysis are presented in Table 4 Lets first discuss the esti mated results that are presented i n Table 2 The conventi onal variables behave ver y much the same wa y as the model predicts and the es timated coefficients are statisticall y sig nificant The adjusted 2 R values range from a low of 0348 t o a high of 0649 These values though relat ively low are acceptable for a cross sectional study and are comparable to those obta ined in other studies The coefficients of the firs t two variables in model 3 are exp ected to be positive and the results are consistent Altho ugh the capital growth variable is st atistically significant labor growth variable is statisticall y significant only during the peri od 20002007 Forei gn aid variable has a negative sign in three out of four cases indicating that forei gn aid appears to hav e an adverse effect on econom ic growth in developing countries This coefficient is not statisticall y significant in any of the four cases Th e square term is als o found to be statisticall y insignificant The coefficient of the initi al GDP variable has the expected negative sign and i s statisticall y significant during the period s of 20002007 and 1980200 7 Inflation rate variable ha s the expected negative sign and it is statisticall y significant at the 1 level of significa nce in all four cases The se findings are also consist ent with the findings of previous studies The variable r epresenting the economic freedom has a negative sign in all four cases but it is st atistically significant in periods 19801989 and 19802007 This variable is defined as follows 1 if fr ee 2 if partly free and 3 if not free Therefore the negative sign can be interpreted as countries which are relativel y free tend to have a hi gher economic growth The ethnic war dumm y variable has a negative sign in all cases and hi ghly statist ically significant in three of the four cases im plying that ethnic wars have an adverse effect on economi c growth Of the three regional dumm y variables used in the model Asia dumm y variable consistently has a positiv e sign and is statisti cally significant in three of the four cases Dum my variables for the other two re gions have mixed result s The dumm y va riables representin g the different income levels in dicate that the estimated coefficients ar e mostl y positive for all income levels but negative during 20002007 p eriod Lets now discuss the esti mated results that are pr esented in Table 3 The conventi onal variables behave ver y much the same wa y as the model predicts and several estim ated coefficients are statisticall y significant The adjusted 2 R values range from a l ow of 0147 to a high of 0619 These values th ough relativel y low are acceptable for a cross sectional study and are comparable to those obtained in o ther studies Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 8 Table 2 Effects of Foreign A id on Growth in Developing Countries Dependent variable Real GDP per capita growth Variable 19801989 19901999 20002007 19802007 Constant 05478 0404 04523 0371 13279 1452 00545 0071 Capital Growth 01264 5151 01209 6447 01477 9574 01268 9174 Labor Growth 00043 0237 01062 0642 09326 6611 00075 0707 AIDGDP 00766 1291 00205 1606 00284 1142 00057 1241 AIDGDP 2 00016 1157 00003 0448 00001 0199 00001 1214 Initial GDP 00249 0187 01337 1525 05262 8524 02606 4325 Inflation 00005 2599 00006 2416 00012 2270 00006 4899 Economic Freedom 04223 1891 00106 1066 01406 1078 02352 1918 Ethnic Wars dummy 04406 1224 12079 3990 16847 4287 07747 3672 Asia dummy 34375 5514 05084 0817 11357 3253 11671 2967 Latin America dummy 03825 0593 06367 1042 00273 0823 06332 1666 SubSaharan Africa dummy 19021 3211 11370 1968 06995 2253 00282 0772 Low Income countries dummy 01955 0202 09688 1263 17293 3015 05309 1063 Low Middle Incom e countries dummy 08231 0993 08838 1430 14763 3209 06129 1529 Upper Middle Incom e countries dummy 10617 1392 06541 1084 15764 3317 02874 0742 Number of countries 83 83 83 83 Number of observations 830 830 664 2324 Adjusted R 2 0348 0649 0627 0379 Note Figures in parentheses are t values and indicate the statistical sig nificance at the 1 5 and 10 level respectively The coefficients of the firs t two variables in model 3 are exp ected to be positive and the results are consistent Altho ugh the capital growth variable is st atistically significant in all four regions labor growth vari able is statisticall y significant only for Latin American region Foreign aid variable has a negative sign in thre e out of four cases indicating that fo reign aid appears to have an adverse effect on economic growth in developing countri es However this variable is positive for African region i ndicating that foreign aid has a posi tive effect on economic growth in African countries Thi s coefficient is not stati stically significant in an y of the four cases The square term is also found to be ne gative and statisticall y insignificant The coefficient of th e Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 9 initial GDP variable has t he expected negative sign and i s statisticall y significant for Asia and for all countries Inflation rate variable ha s the expected negative sign and it is statisticall y significant at the 1 level of significa nce in three of the four cases It is not statisticall y significant for Asian region These findings ar e also consistent with the findings of pr evious studies The variable representing the economic freedom has a negative si gn in all four cases but it is statistically insignificant for Asian count ries This variable is defined as follows 1 if free 2 if partl y free and 3 if not free Therefore the ne gative sign can be interpreted as countri es which are relativel y free tend to have a higher economi c growth The ethni c war dummy variable has a negative si gn in all cases and is highl y statistically significant in African countries impl ying that ethnic wars have an adverse effect on economic growth This findin g is not surprising given the fact that African countries suffer the m ost from ethnic wars than an y other region Table 3 Regional Differences and the Effec ts of Foreig n Aid on Growth in Developing Countries Dependent variable Real GDP per capita growth Variable Asia Africa Latin America All Countries Constant 36455 1501 33811 3130 04702 0421 09948 1531 Capital Growth 02373 9101 00690 3681 01095 5356 01461 9231 Labor Growth 00711 0251 01176 0658 03198 1670 01095 1085 AIDGDP 01275 0655 00509 1429 00585 1390 00181 0776 AIDGDP 2 00069 1368 00006 1228 00005 0634 00001 1377 Initial GDP 04402 2099 01296 1022 00050 1167 04282 7493 Inflation 00007 1190 00005 2625 00006 4030 00006 5207 Economic Freedom 04032 1553 09244 4119 05395 1911 02396 2001 Ethnic Wars dummy 00693 1155 18605 4439 01972 0480 06511 3028 Low Income countries dummy 18378 1527 09688 1263 03982 0385 17239 3679 Low Middle Incom e countries dummy 09827 0620 11565 2786 08720 1480 08952 2290 Upper Middle Incom e countries dummy 05550 1391 08601 1402 08644 1630 03098 0811 Number of countries 13 32 29 83 Number of observations 364 896 812 2324 Adjusted R 2 0619 0238 0147 0379 Note Figures in parentheses are t values and indicate the statistical sig nificance at the 1 5 and 10 level respectively Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 10 Finally the estimated results for different income levels are discuss ed and presented in Table 3 In this case also the conventional variable s behave ver y much the same way as the model predicts and several esti mated coefficients are statisti cally significant The adjust ed 2 R values range from a low of 0213 t o a high of 0429 These values tho ugh relativel y low are acceptable for a crosssection al study and are comp arable to those obtained in oth er studies The coefficients of the firs t two variables in model 3 are exp ected to be positive and the results are consistent Altho ugh the capital growth variable is st atistically significant in all income levels labor growth variable is st atistically significant onl y in low income and upper middle income countries Foreign aid variable has a positive sign in three out of four cas es indicating that foreign aid appears to h ave a positiv e effect on economic growth in developing countries However this variable is negative for lo wmiddle income countries i ndicating that foreign aid has a negative effect on e conomic growth in these countries This coefficient is not statisticall y sig nificant in an y of the four cases The square t erm is also found t o be negative and statisticall y insignificant The coefficient of the initial GDP variable has the expected negative sign and is statisticall y significant for all income levels except for uppe rmiddle incom e countries Table 4 Incom e Differences and the Effects of Foreign Aid on Growth in Dev eloping Countries Dependent variable Real GDP per capita growth Variable Low Income LowMiddle Income UpperMiddle Income All Countries Constant 27576 1963 16366 1183 26368 1624 02044 0309 Capital Growth 01543 5966 01301 7077 01668 5316 01290 9963 Labor Growth 03781 1696 01809 0929 09588 3861 00288 0275 AIDGDP 00580 1519 00173 0695 00944 0789 00054 1249 AIDGDP 2 00004 0799 00002 0251 00002 0289 00001 0127 Initial GDP 09174 5203 03878 2906 01069 0795 02754 4668 Inflation 00005 2594 00006 3626 00015 2035 00006 4853 Economic Freedom 00966 0414 00180 0918 00885 2586 01741 1503 Ethnic Wars dummy 12924 1939 05187 1963 05308 0797 07140 3661 Asia dummy 21801 2184 17261 2246 02620 0299 13234 3572 Latin America dummy 00331 0297 04520 0639 25289 2059 04990 1338 SubSaharan Africa dummy 13935 1631 16862 1029 00629 0147 01320 0369 Number of countries 25 29 22 83 Number of observations 700 812 616 2324 Adjusted R 2 0421 0429 0213 0384 Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 11 Note Figures in parentheses are t values and indicate the statistical sig nificance at the 1 5 and 10 level respectively Inflation rate variable ha s the expected negative sign and it is statisticall y significant at the 1 level of significa nce in all four cases The se findings are also consist ent with the findings of previous studies The variable r epresenting the economic freedom has a negative sign in all four cases but it is st atistically significant only for upp ermiddle income cou ntries This variable is defined as follows 1 if free 2 if partl y free and 3 if not free Therefore the negative si gn can be interpreted as countrie s which are relativel y free tend to have a higher econ omic growth The ethnic war dumm y variable has a negative sign in all cases and is hi ghl y statistically significant in all cases except for uppermiddle income countries impl ying that ethnic wars have an adverse effect on economic growt h This finding is not surprisi ng given the fact that uppermiddle income countries suffer the least from ethni c wars than lowincom e countries Concludin g Remarks This paper analyzes the e ffects of foreign aid on the economic growth of developing countries These effects are anal yzed using panel data series for forei gn aid while accountin g for regional differences in As ian African Latin American and the C aribbean countries as w ell as the differences in income levels One of the contri butions of this paper is its input to t he existing empirical literature on the effects of forei gn aid on economic growth of developing countries through its thorough analysis coverin g a large number of dev eloping countries as well as a lon ger time period The stud y focuses on the time period 198 02007 and 83 aidreceiving developi ng countries In order to bett er understand the effect of aid on growth as well as an y change of its effect over time three separate models fo r shorter time periods namel y 19801989 19901999 and 20002007 were also esti mated Then the model was estim ated for different regions namel y Asia Africa and Latin America and th e Caribbean Finall y the model was estimated for different income levels namel y low income low m iddle income upper middle income and all income levels The major point emerging from t his work is that foreign aid has a mix ed impact on economic growth of develo ping countries First when the m odel was estimated for dif ferent time periods foreign aid variable has a ne gative sign in three out of fou r cases indicating that foreign aid appears to have an adverse effe ct on economic growth in d eveloping countries In addition this coefficient is not statist ically significant in any of the four cases Se cond when the mod el was estimated for differen t regions foreign aid va riable has a negative sign in three out of four cases indicating that forei gn aid appears to have an adverse effect on e conomic growth in developing countries However this va riable is pos itive for African region indi cating that foreign aid has a positive effect on economi c growth in African countries Thi s is not surprising given that Africa is the largest recipient of for eign aid than an y other region Final ly when the model was estimated for differen t income levels foreign aid variable h as a positive sign in three out of four cases indicating tha t foreign aid appears to have a positi ve effect on econom ic growth in developing countries However this va riable is negative for lowmidd le income countries indicating that foreign aid h as a negative effect on economic growth in these countries Thus t he findings of this stud y are for the most part consistent wit h findings of previo us studies on the effects of foreign aid on economic growth Journal of I nternational Business and Cultural Studi es Foreign Aid and Growth P age 12 References Addison T Mavrotas G and M McGillivra y 2005 Aid to Africa an u nfinished agenda Journal of International Development vol17 p9891001 Alesina A and D Dolla r 2000 Who gives for eign aid to whom and wh y Journal of Economic Growth vol 5 p33 63 Barro R J and X S alaiMartin 2004 Economic Growth 2nd ed MIT Press Camb ridge MA Boone P 1996 Politics and th e effectiveness of forei gn aid European Economic Review vol40 p289329 Brautigam D A and S Knack 2004 Foreign ai d instituti ons and governance in SubSaharan Africa Economic Develo pment and Cultural Change vol13 p255285 Burnside C and D Dollar 2000 Aid policies and growth

O O O O O O B I O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O B I O O O O O O O O O O B I O O O O B I O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O B I O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O

economic growth
developing countries
latin america


of articles in Happiness WellBeing Emotion Behavioral Medicine Socialism A Dark Side of Happiness How When and Why Happiness Is Not Always Good Article Literature Review PDF Available in Perspectives on Psychological Science 63222233 May 2011 with 2242 Reads DOI 1011771745691611406927 Export this citation June Gruber Iris B Mauss Maya Tamir Hebrew University of Jerusalem Abstract Happiness is generally considered a source of good outcomes Research has highlighted the ways in which happiness facilitates the pursuit of important goals contributes to vital social bonds broadens peoples scope of attention and increases wellbeing and psychological health However is happiness always a good thing This review suggests that the pursuit and experience of happiness might sometimes lead to negative outcomes We focus on four questions regarding this purported dark side of happiness First is there a wrong degree of happiness Second is there a wrong time for happiness Third are there wrong ways to pursue happiness Fourth are Discover the worlds research 15 million members 118 million publications 700k research projects Fulltext Content uploaded by Maya Tamir Author content 22001 KB Sorry there is no online preview for this file type Download Citations 229 Citations 229 References 152 References 152 Individuals with greater variability in positive affect coupled with high mean levels of positive affect may experi ence affective vacillations between extreme states of joy and tempo rary periods of moderate or lower positive affect These momentary emotional declines may be maladaptive among nonclinical popula tions in that they signal psychological instability and an inability to cope with changes within ones environment Gruber Mauss Tamir 2011 Conversely greater variability in positive affect cou pled with low mean levels of positive affect responsiveness to chang ing contextual factors and able to experience higher than mean levels of positive affect Mean Level of Positive Affect Moderates Associations Between Volatility in Positive Affect Mental Health and Alcohol Consumption Among Mothers Article Sep 2018 J ABNORM PSYCHOL Jaclyn P Maher Chaelin K Ra Adam M Leventhal Donald Hedeker Genevieve F Dunton For example a person who perceives high wellbeing dur ing a manic episode may also engage in reckless behav iors that are devastating their friendships ruining their finances and leading to legal entanglements Obvi ously a selfreport of extremely high psychological wellbeing can mask problematic objective functioning Gruber Mauss Tamir 2011 The Curious Neglect of High Functioning After Psychopathology The Case of Depression Article Fulltext available Sep 2018 PERSPECT PSYCHOL SCI Jonathan Rottenberg Andrew R Devendorf Todd B Kashdan David J Disabato For example positive affect independent of negative affect encourages meaning in life King Hicks Krull Del Gaiso 2006 and satisfaction with life Cohn Fredrickson Brown Mikels Conway 2009 fosters resilience to stress Ong Bergeman Bisconti Wallace 2006 and promotes a broad range of mental and physical health outcomes eg reduced risk for depression acute illness systemic inflammation cardiovascular incidents and mortality Wichers et al 2010Cohen Alper Doyle Treanor Turner 2006Cohen Doyle Turner Alper Skoner 2003Moreno Moskowitz Ganz Bower 2016Davidson Mostofsky Whang 2010Steptoe Wardle 2011for reviews see Marsland Pressman Cohen 2007Pressman Cohen 2005 Yet paradoxically the more a person values and Gruber Mauss Tamir 2011 At the same time although not all psychological interventions designed to increase positive affect have been successful see Parks BiswasDiener 2013 there are several evidencebased interventions for improving happiness for reviews see Bolier et al 2013Sin Lyubomirsky 2009 How mindfulness training promotes positive emotions Dismantling monitoring and acceptance in two randomized controlled trials Preprint Fulltext available Aug 2018 Emily K Lindsay Brian Chin Carol M Greco Shinzen Young J David Creswell The Intersection of Goals to Experience and Express Emotion Article Fulltext available Aug 2018 Katharine H Greenaway Elise K Kalokerinos Feeling Goodand Feeling BadAffect Social Problem Solving A Test of the BroadenandBuild Model in Asian Americans Article Fulltext available Jul 2018 Kaidi Wu Edward C Chang Neural Activation in Response to the Two Sides of Emotion Article Fulltext available Jul 2018 NEUROSCI LETT Sieun An Xiaochun Han Bing Wu Zhenhao Shi Shihui Han When Do Good Things Lift You Up Dampening Enhancing and Uplifts in Relation To Depressive and Anhedonic Symptoms in Early Adolescence Article Fulltext available Jun 2018 J YOUTH ADOLESCENCE Sabine Nelis Margot Bastin Filip Raes Patricia Bijttebier Using emotion regulation to cope with challenges a study of Chinese students in the United Kingdom Article May 2018 Camb J Educ Ming Cheng Andrew Friesen Olalekan Adekola The Semantics and Perception of ME Happiness in The Canterbury Tales Article Fulltext available May 2018 Agnieszka Wawrzyniak The cognitive up and downregulation of positive emotion Evidence from behavior electrophysiology and neuroimaging Article Fulltext available May 2018 BIOL PSYCHOL Fenghua Li Shouhang Yin Pan Feng Na Hu Antao Chen Recommendations Discover more publications questions and projects in Happiness Project Research with the Refined Values Theory Shalom H Schwartz Maya Tamir Jan Cieciuch Research on the consequences and antecedents of the 19 values in the Schwartz refined theory of basic human values Studying values and their relations to attitudes behavior demographics persona Project Attitudes toward Emotions Noam Markovitch Liat Netzer Maya Tamir Project article Roni Porat Eran Halperin Maya Tamir Article Can Seeking Happiness Make People Happy Paradoxical Effects of Valuing Happiness April 2011 Emotion Happiness is a key ingredient of wellbeing It is thus reasonable to expect that valuing happiness will have beneficial outcomes We argue that this may not always be the case Instead valuing happiness could be selfdefeating because the more people value happiness the more likely they will feel disappointed This should apply particularly in positive situations in which people have Show full abstract Article Should People Pursue Feelings That Feel Good or Feelings That Do Good Emotional Preferences and Wel February 2012 Emotion Is it adaptive to seek pleasant emotions and avoid unpleasant emotions all the time or seek pleasant and unpleasant emotions at the right time Participants reported on their preferences for anger and happiness in general and in contexts in which they might be useful or not ie confrontations and collaborations respectively People who generally wanted to feel more happiness and less Show full abstract Chapter Social Cognitive Factors in Emotion Regulation Implications for WellBeing January 2011 Building on social cognitive theories we argue that similar to other forms of selfregulation emotion regulation is influenced by three social cognitive factors first beliefs about controllability and selfefficacy second values and goals and third strategies and competencies Whereas strategies and competencies have received considerable attention in the emotion regulation Show full abstract Article Valuing Happiness Is Associated With Bipolar Disorder January 2015 Emotion Although people who experience happiness tend to have better psychological health people who value happiness to an extreme tend to have worse psychological health including more depression We propose that the extreme valuing of happiness may be a general risk factor for mood disturbances both depressive and manic To test this hypothesis we examined the relationship between the extreme Show full abstract Article Can Feeling Too Good Be Bad Positive Emotion Persistence PEP in Bipolar Disorder August 2011 Current Directions in Psychological Science Positive emotions are vital to attaining important goals nurturing social bonds and promoting cognitive flexibility However one question remains relatively unaddressed Can positive emotions also be a source of dysfunction and negative outcomes An ideal point of entry to understand how positive emotion can go awry is bipolar disorder a psychiatric disorder marked by abnormally elevated Show full abstract Discover more

O O O O O O O O O O B I I I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I I I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O

dark side of happiness
psychological health


The Comparison between Two Main Leaders of Cell phone Industries Apple and Samsung versus Blackberry and Nokia in terms of Pricing Strategies and Market Demands Article PDF Available November 2013 with 14387 Reads Export this citation Ping Sin Kong HELP College of Arts and Technology Assc Prof Dr Rashad Yazdanifard University of Nizwa Abstract This paper argues that there are many smartphone brands exist in this era of technology However there are two main leaders of all smartphones brands which are Apple Inc and Samsung This paper provides some information and comparison between these two main leaders in the smartphone market and other brands such as blackberry and Nokia Apple Inc and Samsung are the two most common smartphone brands now holding most of the market shares all around the world The reasons which made them the leader of the smartphone industry are various This research has focused on market demands and pricing strategies Discover the worlds research 15 million members 118 million publications 700k research projects Content uploaded by Ping Sin Kong Author content Download fulltext PDF The Comparison between T wo Main Leaders of Cell phone Industries Apple and Samsung versus Blackberry and Nokia in terms of Pricing Strategies and Market Demands Kong Ping Sin Center for Southern New Hampshire University SNHU Program HELP College of Arts and Technology Kuala Lumpur Malaysia pingsin1124hotmailcom Rashad Y azdanifard Center for Southern New Hampshire University SNHU Program HELP College of Arts and Technology Kuala Lumpur Malaysia rashadyazdanifardyahoocom Abstract This paper argues that there are many smartphone brands exist in this era of technology However there are two main leaders of all smartphones brands which are Apple Inc and Sa msung This paper provides some information and comparison between these two main leaders in the smartphone market an d other brands such as blackberry and Nokia Apple Inc and Samsung are the t wo most common smartphone b rands now holding most of the market shares all around the world The rea sons which made them the leader of the smartphone i ndustry are various T his research has focused on market demands and pricing strategies of these four smartphone brands Keywords smartphones market demand and pr icing strategies 1 Introduction There are four main brands in this research which are Apple Samsung BlackBerry and Nokia No wadays the worlds most common and l argest smartphones m anufactures are Apple and Sam sung According to som e articles Apple is the most valuable brand in the world and is one of the top ten entries in the Fortune 500 list Savitz E 2011 An other most co mmon smartphone brand is Samsung which is the largest information Technology Company and is in t he 4th position in mark et value around t he world Sa msung is also one of the most po werful influence groups in South Kor ea Another two less common smartphone brands are BlackBerry and Nokia BlackBerry is the largest smartphone industry in the workplace market The last is No kia which was the largest vendor of mobile phones around the world from 1998 to 2012 Besides that there are many differences in terms of pricing strate gies that these companies have come up with to improve the sales of their products The market demands of these brands differ amongst the diverse de mographics of consumers 2 What is Apple Inc Apple Inc is an American multinational corporation headquartered in Cupertino California America It develops d esigns and sells computer software per sonal co mputer and other electric devices The most famous and popular items in this company are the Mac line of co mputers iPod music players iPhone smartphone and the iPad tablet computer The computer sof tware of this co mpany are the OS X and iOS systems iT unes media browser the Safari web browser and the iLife and iWork creativity and productivity collections This company was established on 1st April 1976 and w as registered as Apple Co mputer Inc on 3th January 1977 On 9th January 2007 it changed to Apple Inc and it was also the day that Ste ve Jobs introduced the iP hone This was the significant day t hat shows how this company started to focus on consumer electronics Apple Inc is the worlds second largest technology company after Samsung and it i s also the most admired company i n th e United States from 2008 to 2013 On 30th September 2013 Apple defeated Coca Cola to become the worlds most valuable brand In May 2013 Apple already contains 408 retail stores in fourteen countries as well as the online Apple Store and iT unes Store In addition iT unes is the largest m usic retailer all around the world Cusumano M A 2013 Apple n ow is t he largest listed company around the w orld as it is worth US415 billion T he company now has about 72800 lasti ng fulltime employees and 3300 temporary full time employees around the world Besides that in May 2013 Apple was listed as one of the top ten entries in the Fortune 500 list of companies from 17th position to 6th position Savitz E 20 11 3 The Market Demands of Apple It has bee n many years that the iPhone was the to p seller at the nations major carriers The iPhone 4S had so ld about 47 million in 2010 Albanesius C 2012 In 2011 some reports sho wed that iPhone beat all others brands at many phone selling shops such as A TT Sprint and V erizon Some researchers also collected some data from those shops and the results showed that they sold about 18million iPhones a nd ATT sold about 76 million iPhones during 2011 According to some researches and repor ts Apple o vertook Samsung as t he worlds top smartphone maker at the last quarter of 2011 After that Apple also sold about 35 5 million iPhones in the fourth quarter which is about 2 38 percent increment from a year ago while Samsung sold 34 million The researcher also said that the iP hone keeps breaking new records and that the countr y that sold the most iPhones is Japan Calvin et al 2008 Because of the iPhones the selli ng numbers o f other Apple products have also increased There was a survey o f 4000 Nor th American consumers which found that t he demand for the iPhone had stro ngly increa sed after two months of the release of t he iPhone 4S Moscaritolo A 2012 According to this survey about 44 percent of those who wanted to buy a new smartphone in the next 90 days will plan to get the iPhone This survey also showed that the demand for the iPhone had fallen to 11 percent since September 2011 although 65 percent of people were planning to buy an iPhone by the end of the year However the demand of Samsung smartphone had increased although only 5 present people who w ere planning to buy a Samsung smartphone I n 2012 although Samsung might be the top seller in the s martphone industry around the world but Apple still led the United States market Savitz E 2011 All of the results and data were accord ing to The NPD Group The market research showed that Apple was ahead of all other manufactures and was taking about 29 percent of the United States smartphone market Ho wever after a few weeks Samsung had s tolen the position from Apple in worldwide smartphone shipments In the end of 2012 Apple had been beaten by the android smartphone The mai n reason for it was that the iPhone could only function on 3G networks at that time while Android was ahead with 4G networks Hachman M 2012 4 The pricing strategies of Apple Inc Some researchers said that what Steve Jobs sold was pricey They have al so mentioned that Steve Job was a master of using pricing decoys reference prices rushing lead ing you to think that his shiny aluminium to ys were a good dea l In 2010 Apple introduced the popular iPod Touch media player and it had been sep arated to three prices 229 299 and 399 dep ended on its capacity The researcher also stated that Apple Company also used the price decoys when they were setting the price of their product Pr ice decoys in marketing were products services or price points that a business did not want you to take but it is used as a reference to make other products look better For exa mple the price of the iPod Touch which are priced at 229 299 and 399 depended on the capacity At that time the iPhone 4 was just 199 due to the higher price attached to the iPod Touch it manipulated people into buying t he iPhone 4 because it seemed more valuable Apple also set a high price for their other good s such as the first iPhone that cost about 599 but iPhone 4 only needed 199 Therefore people would think that the iPhone was becoming more affordable Besides that the usual p rice of an iPad cost about 499 but it would dr op to 399 by Christmas and it would generate higher sales A nother trick of Apples was to cover the reference price The reference price of Apple products were undisclosed to prevent customers from comparing it with other brands Besides that it made people spend more m oney when they bought the Apple products do wnstream When people are hooked on to the iPad or iPhone Apple likely counted on the consumers future purchases video rentals and i Ad clicks on app advertising Besides that they relied on the many contracts signed by co nsumers for a t woyear phone c ontract for the monthly data fees Because of all the strategies that Apple Inc has used it has influence and manipulated consumers into paying more for their products which other brands of smartphones provide as well Kunz 20 10 5 What is Samsung Samsung Group is a South Korean multinational conglomerate company headquartered in Samsung Town Seoul South Korea It contains many different subsidiaries and affiliated businesses and it has now become the largest South Korean business conglomerate Sa msung was created by Lee Byungchul in 1938 as a trading company Over three decades Samsung group had expanded into many different areas including food processing textiles insurance securities and retail After that Sa msung started dabbling in the electronics industry in the late 1960s and later in construction and sh ipbuilding industries in t he mid 1970s as well After the death of Lee Byungc hul in 1987 Samsung group was d ivided into four different business groups they were Samsung Group Shinsegae Group CJ Group and Hansol Group Around the 19 90s Samsung had globalized its activities and electronic industr y especially mobile phones and semiconductor s which had become the Sa msung Group most important source of income The most famous Samsung i ndustrial companies are Samsung Electronics which is the largest information technology company and in the 4th position in market value around the world T he following is Sa msung Heavy Industries which is the second largest shipbuilder around the world in 2010 Samsung Engineering whic h is the worlds 13th largest construction co mpanies and Samsung CT which is the worlds 36th large st construction companies Sa msung is one of the most p owerful influence groups in South Koreas economic develop ment media culture and politics Samsung is also the fifth contributor of South Koreas total exports and 17 of South Koreas 1082 billion GDP Olson P 2012 6 The market demand of Samsung In 2008 Samsung became number two in the United States cell p hone market a few distance s ahead of Motorola Samsung was growing very slow in the United States cell phone market at that time Carson P 2008 Samsung also found many ways to improve its s ales s uch as offering all Samsung handsets for free However Samsung did very well in Europe and Asia with some saying that Samsung was a new ACE in fut ure Although iPhone had sold about 37 million but in the whole of 2011 Samsung was still the years top smartphone manufacturer Albanesius C 2012 A ccording to some reports Sa msung had shipped about 95 million s martphones in 2011 a huge increase of 278 percent from 25 million in t he year of 2010 T he reaso ns which made Samsung become the leading brand were the strategy of o ffering a complete line of the smartph one products across a variet y of prices features and operating system Samsung also became the market leader with 20 percent glob al share during 201 1 Samsung and Apple also became the world s lar gest and most valuable consumer electron ics markets in the year o f 2011 In 2012 Sa msung beca me the top smartphone manufacturer in the world according to the data from The NP D Group Samsung had a huge growth in the United States because of the increase in the demand for prepaid phones At that year Sa msung had become the leader of smartphone shipme nts around the world T he system that S amsung op erated on was t he Android system which was the most popular operating system in the United States during that time from 24 p ercent to 61 percent One of the reasons that Samsung became popular at the time was that Samsung already had the 4G network while iPhone have not caught up with its 3G net work There was also a survey done on what brand of smartphone that consumers who planned to buy a new smartphone in the next 90 days would buy Moscaritolo A 2012 According to the survey Samsung w as the second highest smartphones in demand About 13 perce nt of the participants reported that they would buy a Samsu ng smartphone However the number of people who really bought Samsung smartphones had slightly increased at that time Compared to before the n umber of people who were interested in Samsung smartphone s had increased from 5 percent to 13 percent One of the reasons was the Samsung Galax y Nexus was the o nly 4G smartphone that was r unning on Androids new 40 operating system which was Ice Cream Sandwich However only 43 percent of people were very satisfied after using Samsung smartphones There were more than 670 million s martphones s old during 2012 and Samsung had taken about 30 of sales Samsung Gala xy S3 had already sold 40 million in November 201 2 Olson P 2012 In 2013 Samsung had sold about 125 million smartphones to China in the first three months and it was the first time that Sa msung sold more than 10 million smartphones to other countries in three months There were about 185 of Chinese Sa msung smartphone users which had increased by 22 per cent from the previous three months After that Samsu ng a lso became the worlds most used smartphone b rand in first three months of 201 3 However Samsung still faced an uneasy competition with C hina s local brands such as Huawei Lenovo and ZTE in the following 2013 in the China market Olson P 2013 7 The pricing strategies of Samsung In 2011 Samsung seemed to lower its p rices to increase its sales of smartphone Samsung introduced its 4 new cheaper Galax y smartphone models and all smartphones cost under 200 Some researchers said that it was because Apple was planning to introd uce its new and cheaper iP hone Therefore Samsung tried to use the same way to beat Apple Investors Business D 2011 In 2013 because of the tough enemy Apple Samsung found many ways to maintain it s selling number of smartphones In relation so me of the researchers noted that Samsung still contin ues to look attractive in this difficult competition of mobile technology For the p rice notes Samsung Electronics is the largest overweight position to contribute negative performance in 2013 Samsung Electronics had beaten 54 basis points off returns and 22 p ercent overweight through the price At the beginning of June 2013 Samsung Electronics had dropped in share price after the profits disappointed and fall 637 percent year to date on the Korea exchange Price was said to be one of the advantages of buying a Samsung smartphone Morris P 2013 Therefore the pricing strategy that Samsung had used is lo wering the price 8 What is BlackBerry BlackBerry is a wireless handheld device and service s that was designed created and marketed by BlackBerry Limited also known as Research In Motion Limited RIM In 1999 the f irst BlackBerry was created as an email pager Hempel J 2008 T he latest BlackBerry devices are the Z30 Z10 Q10 and Q5 both of t hem were introduced on 30 th January 2013 and the Q5 was introd uced on 14 th May 2013 Different model s have different user interface Most of the models have features a physical QWERTY keyboard while other brands were using multitouch screen and virtual keyboard BlackBerry devices can take photos shoot video and play music BlackBerry also can suppo rt webbrowsing email messagi ng instant messaging and the BlackBerry Messe nger BlackBerry achie ves 3 of mobile devices sales in 2011 aro und the world and 25 of m obile device sales are smartphones The BlackBerry Internet Service is available in 91 countries In 2011 the Caribbean an d Latin America had the most number of BlackBerr y users with 4 5 percent in the region In the United States BlackBerry was known as CrackBerry 9 The market demand of BlackBerry On 11 th September 20 08 Resear ch In Motion RIMM was presenting a feature that made it easier for users to access to the social network site MySpace NWS Besides that BlackBerry also planned to introduce the tools that let subscribers to control their T iV o video recorders and view pr ogramming that s bee n saved via Sling Medias Slingbox RIM had sold 40 million BlackBerrys in 2 008 and 16 million active B lackBerry subscriptions Therefore there were many l oyal BlackBerry owners w ho had latest information ab out their second third or even fourth device In the second quarter of 2008 RIM sold more than 5 million units Hempel J 2008 On 10 th September 2 008 Sprint introduced a new version o f BlackBerry t hat worked with its push to talk network BlackBerry became the most popular smartphone on the workplace market BlackBerry Enterprise Server no w had a voice component that connects to corporate phone systems The most popular BlackBerry ap plication was Facebook at that time Some o f the customers s till wished that blackberr y provided more choices Therefore BlackBerry has the direction that it needs to develop new choices to attract their loyal customers Hesseldahl A 2008 10 What is Nokia Nokia Corporation is a Finnish multinational communications and information technology company in Espoo Finland It produces many diff erent mobile telephones and IT d evices Nokia also offers dif ferent types of internet services such as applications games music media messaging free of charge di gital map information and navigation services Nokia also owns a company named Nokia Solution and Net works w hich provides telecommunications network and services Briefs 2009 In 2012 Nokia had about 10198 2 people across 120 countries and annual revenues around 30 billion In the fourt h quarter of 2012 Nokia became the worlds second largest mobile maker in terms of unit sales with a glob al market share of 18 but it had only 3 market share i n smartphones However they lost 40 of their global revenue in mobile phone in second quarter 2013 Nokia also is a public limitedliability company that is listed on th e Helsinki Stock E xchange and New York stock Exchange According to the Fortune global 500 Nokia is the worlds 274 th largest company in 2013 From 1998 to 2012 Nokia was the largest vendor of mobile phones around the world However it was defeated by other cell phones brands in the past 5 years Fro m the late 2007 to middle of 2012 the share price of Nokia had dropped from US40 to US2 Nokia an nounced a partnership with Microsoft to recover its company in February 2011 Nokia fell from its first positio n to tenth position i n the list of the worlds largest smartphone vendor from 2011 until 2013 11 The market demand of Nokia In the first month of 2009 marketbased pricing came to Europe the one that first jumped o n the b andwagon was Nokia In 2012 one of the researchers said that Nokia was facing a difficult stretch No kia also faced many different loans and losses in the smartphone industry Nokia is now in their lowest level sin ce 1996 The value of Nokia no w is almost as little as what they paid for the Navteq mapping business in 2007 about 81 billion Savitz E 2012 Nokia lost 40 of their global revenue in mobile phone industry in second quarter 2013 12 The pricing strategies of Nokia In 2011 Nokia had cut the price of one of its models Lumia 900 Windows Phone 7 smartphone in half in the United States smartphone market Savitz E 2012 The price of that phone is at 4999 with a two year contract while initially it was at 99 Smartphone price has now fall en over time and Microsoft announced that there is no available upgrad e from Windows Phone 7 to Windows Phone 8 Therefore it was not a good sign for Nokia to use the Lumia to recover its company Savitz E 2011 Therefore the strategy tha t Nokia had used was to cut and make its smart phone price lower to attract more buyers However it seemed to be a f utile effort to recover its business to its glory days 13 Discussions First there are four main smartphones brands in this rese arch w hich are Apple Samsung BlackBerry and Nokia Apple Inc is now the world most valuable br and and it also made it to the top ten of the Fortune 50 0 list of companies f rom 17th position to 6th position Cusumano M A 201 3 In 201 1 Apple also overtook Samsung and beca me the worlds top smart phone maker and keeps breaking new records In 2012 Apple still led the U nited States s martphone market b ut i n t he e nd of 2 012 Apple had beaten by t he android smartpho ne Savitz E 201 1 The pricing strategies that Apple used were really various T he first was utilizing a price decoy which was to use as a reference to make other product look better The second strateg y was to co ver the reference price which prevented cons umers from co mparing its prices with the prices of other smartphone brands Apple also liked to co unt on consumer s future purchases and made them to sign over a two year phone

O B O O O O O O O O O O O O B I I O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B O O O O O O O O O O O O O O B I I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O B O O O O O O O O O O O O O B I I O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B O O O O O O O O O O O O O O O B I I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O B I I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O

comparison
blackberry and nokia
pricing strategies