International Journal of Economics & Finance Research & Applications [ISSN: 2581-4249 (online)]

Analytical Study of the Competition between India and China in Industrial Globalization

Dr. Ajay Krishna Tiwari

The aim of this paper is to shed light on three upheavals, all intellectual issues related to the emergence and modernization of contemporary Asia, and first of all India and China. Asia's entry into the global economic system as a whole represents a multidimensional economic upheaval. By "symmetrizing" the location of goods production and world consumption, it brings the world out of the long "two-centuries parenthesis" introduced by the Industrial Revolution in England and, in doing so, "symmetrizes" also the question of overall sustainability. The relevant scale is actually the "integrated Asian production system" that is gradually being implemented. The state and industrial modernization of contemporary Asian societies offers the possibility of a full take-up of these economies, provided that internal normalization of access to the necessary economic and social capabilities recovers. As a direct consequence in the context of sustainable development, this development requires thinking about economic and environmental issues in a symmetrical way, rather than incrementally: the emergence of China and India as developed economies has required the development of the methods will need to be reviewed.

Value Relevance of Accounting Items under IFRS: Theory and Review of Literature

Dr. Saumya Jain

This paper reviews existing literature in the field of value relevance in the context of new accounting standards i.e International Financial Reporting Standards both before and after introduction. The theory of value relevance research and contextual argument of the proposed impact of IFRS on accounting numbers has been discussed. The review suggests that there is no consensus in the existing literature regarding impact of IFRS on value relevance of accounting figures. The research identifies gaps in existing literature and concludes with scope of future research in this field.

Challenges of Natural Resource Wealth in Nigeria: A Case Study of Niger Delta Region

Nathan Udoinyang

This research looks at the challenges of natural resources wealth in Nigeria: a case study of Niger Delta region. The study utilized survey methodology to collect data from the whole population of only five state that are oil producing state in Niger Delta Region in Nigeria (Akwa-Ibom, Bayelsa Delta, Edo and Rivers State). The total population of the five state was estimated at 18,151,093 as of 2006 census. With the implementation of Taro Yamane formulae, the population size decreased to 400 people. Three local government areas were selected from each of the five state making it a total of 15 LGA’s. Out of the 400 questionnaires sent out, a total of 331 respondents from the 15 LGA’s returned. With a mean criterion of 3.0, the statistical tools of the Statistical Package for the Social Sciences (SPSS) were used to analyze the study's research topics. Reviewing the socio-political, economic and environmental challenges of natural resources wealth in Nigeria are:negative influence on civic space, political conflict, weakening of political institution, political instability, corruption, kidnapping, militancy, economic growth impediment, mono-economy, Dutch disease, deforestation and ecosystem degradation, biodiversity loss, reduction in soil and water quality, destruction of farmland, rural urban-drift, oil thief, illegal refinery etc. The study concluded that Nigeria's political leaders must urgently address the resource curse and immediately begin to address the long-term damage this curse has caused and brought about from a new Nigeria with a strong desire for true development based on good governance.