Download as pdf
Download as pdf
You are on page 1of 288
See Oe See Cy obasst eee he Ree ere Se LLY eae eS silaivel alle gale 352 == Ba ATOR ale ot a ats, Aeial leila asin paps le ddblann hy sec sala iy ye ATA aac aloha I oti caste AVA “APE AVA TAF AN. AYA-APE AVA TAT oT age: su LS meas cony sabe hj 4 GW shal pabia p45 Ags te pate OS sas: exe Sole igi alle: ysl HBVA/SY yar 8S gate, TT: asaigatesy TO*PTTN se cguttubs las (oaks bj 4 GWT oLatil pale ze patie gle 259 coljessles bay 9 ety wate 1,L2ci .. AVA ~9FF AVA V4 F-8, AVA AFF -AVA -FAay-y. Asolyseys Gabe TAF SI gang WY g -wdla gala ig Gul FFRPVALE -SPRPWAN gilt : FA LL TAF craig IT ela aa aL Goad ye 9 ke OL LET asd 8? PEROT) -FFEANOVE gb FoRDVIN GaSb sete ete est ee Say tg esd afl as bp HO le Info @ termehbook. i 3 1 j ms pled Sie gai a ae } ISO Acieaenrat rest einer irene RCmRAR TORT i PU Sasa sat ye 99 saath yy eye ah Jas gpl ts Sol yer a tind Del sf | Meise nahi chron co hens ocheeh oA IO | CR BD e@NgS}y Olas! g |) BUS al ie Se 7 Seer flagt7s ’ Lou Hees FS yhauT ll jb wee 22 Bae yb jlo spon aj 9 Sb J ole Guus rons 1S crpllnn cu Aatar a Sei ae sp by optore Gling CUAL os lors. SACI LoL AS ABS 294 9 SS peal ae el slacagll 9 Uasls 59 Sigh eal y oles C558 bs de aets srl taal walsh Ly alge ody 9 S85 adeS opegy Sling oS MSS ale Gris SAS Sete UST gg be elo 0 Lil plied os 66 5 wb Obie SS gions wo MB pe Sica 9 2yp0 ast ole Ege yoga bly ab seme ts 3 as selena alla, al ay WS ge EAS Ca 28s a gle Sp cg 22915 pe LES sale 9 98 ples ol spurs gs eras ao Fage mre E855 A 9 lal 9 98S ol Glaseed Fon F uy Colas ple ogo Hocta eyage ch fg aliy Oly y GMOS 5 AEE Jandy eat lal’ PSE BSae Cle So og ln pio alge yelacel laste ugy 9 cajpl alae BONS) Solos Caer Alehy 9 ga slo Jae ad eS pty EB, Same Sl Gogg oll badge gto ancl LEI Sy ely sLatdl y gSLe dally, (oe 4S sgeuty 1995 onlical gy soled! 4 oie y Cate SEL aa CIES yb IS GIpiees aes y Cate Glebe oS )5 oS bel Borthce Sleds ay Old Je 59 ales Jhb ojgo 9 sLatil gle p eee wlogey, & GS PLE Clg ty ae 9 oie eth gy tes Gay OLS LAS lily Js culan WU peat SL actly ancy yo oleatil Sy! gol gd densi 9 99 eth = : bass cage fj) ssl Vege Cyl Unt 50 65 paler Loken pi Gita egg WU ays Congo All : ad ass Sy J iy asa ly og yeigy Fas 9 lily gH sal i yb an 9 08 So a i Lasil lat Pa Iaeb gd canoes oasis 1 coe aS ysypb tine og y ote Lagat : is 53 b gl bbs! opde |) ol web PEAS ly ada i igy Cole 9 gi cba cats lol bbs ieee of 67 : oe - a> | 29; [5 sla a ober 9 tb clas 9 cYSie He ENT sbbiee ppat 0% ol PSA 85 shel dina Ee 9 Sy) coh aad og wal 29S Gly 06 sade Glasilys gly GLE cpl eallne WF Col ane op ALS CEH pal ON ado Sly cg hiF aye pas CS yd ole pte caudal yf sans gi dace sells Bee L595 Se MT cel 00,5 ayer Ly GALS gules OV pd HIS G Bed cb Oly! 58 Ap! Lasdl Vgo5 al ae 9 0056 OVge8 Syl jl gas Gly! sLatl alate 9 ppg: wee! Gleclasil i! gly! oLasil Gl gil LU Gu ipge jt Se: als cel 00S aad |) Gard Gols 29 GEL barre B25 go SOE golail SL [Solan byte slog yo Bol ood Ge Oty 03g> 49 Mal SI Mee oS Cal ol pal Gul esd a yas |) Ould, 95 Glas 59 9 AT obey! QW 20,6 rgSne Altes byl 9 Sle 99 teal Sob, DS GU Gace titres ii eg gt Stamey Jd thy a leg Coty SWS dagoee ogy 2y)0d ogery Cally Laglih jl spleny 99 9 0 claw 99 cul SS 9 ah ce LF js! NSE AF aiinge Fy | esky AS U odeal 45 Seal eset slaglegs PS OLE L Garg hs uo 4 pare Aobe y Clg lf 9 op. 50 Gale pe Sgr Caulantls 554) seo cabalys gate 99 BLES ge Gh5 1) Jpare Gf Sole CS ,5 9 WS go flac! Cusgare JSlo 50 tigtce Gag gts 9 Lang ALS dey |) RS oybl y agi sald AES ge SES ola ees 4 othe cle ADE 9 Ib Sag) Cepeda oF tes sil d 59 Stings 4 oly Glyde glel aeaeo a51> Cun! obatil 59 ogege (glace, HS 090 aye GUS 9S 3 oth Bye Lad! slagley! Gil Sle ee Gee onl Je She oles Gly PF cat gf sbactl 5 Sipemat pli dibs a,b a Ly Mout oat oy olacdl lpi ge like iS sali! Santi 9 Lb, coy sbeul y CdesbigS 99 golacil gla gags cy poe SAIL 055 4S sodg35 Gage ETO GUS lee po WG GSLs pls aS oF Les! asl glace Ae Caen Lye AS Socge Tree Hey Ol pee Cel 09 F at |) lg 4 cans line eet tal Bal Nop gad SLSAT goalie Galacil glock Le fond Syye Gul Koken Laid lyse L galecdl gla tings, i) Glos obatil gle yo LLU allecge GES gl age ojhal cot) EB SS 3 galetdl lacks y Se gules Glcurgioe S aibycce tay ol & Sobel sp Sppemal pl Gad Gare bey WF opayy Slee M9 Jule die Fons 195g) iy Hila y ple aad AIS ol a oo osge yl jlapamad 9 silanes abby oF GLA IS lar 1 Ty GAAS nd J 5) Salen 5 SygAS tals ype & Lad) 2d, adly po Gud jg) tb 4 SRS phy byt Sle yea dy al FIL eg S52 9 outage olds, LAL 49 5 oc Sat gal 9 celRsle pl nd no gal Ey pate Spey be galt ay 99 SS 9 gd AS go lle Cbgo dite 50 galt IS plas aes JES a1; 095 {UT A i arg AW Pll Ib eee jl gS GI Sinlen 9 6 Spreal pla oho eps jt TY (2) SAB eat NSS (ME SVS oS Be Shab lel pcos ye iY alpen MB Gre bE 32 9 ge FS Cates CpSprrmed clalas 0 Sige oslizd culo IS ells jo ob aye tlie 9 ST Alo gue g basil 9 & Spend All city links setts Lat IG hy es ciety M9 09 5 Hag Ca oly Seadges GU Syl ay Nat AS alo Sylome Eloy jab 090 0897 Glee 39 Seiad cyl Os Sighs! G¥gtns a pe Olle oS yy slat ley ple yyber gelatal pple yoo ajiuyarce cuay Bb et op 5 23h poze agae Cool hye allie 9 GUI Se byl > gaat ISI y SL wolail Sia,3 she po ails it da 09. 50 sled pysi Sepa iS CUBS ub jee 28 99 Sdy9 SF Sige Sogn 81; CaaS sale layed JSS lal Gace iS Jd | ) aa olyjs 2 Baw 8 435 9 alba oleblie glass, 9 ple gba, yl glace, alas go cea APE NEE 9 tins on ol Sal oli 99 Sal Capen L cape lacy &) GI Seem eh thy 99 Al olpte & Sib Olygs 99S Giles Coles ee Thay SEES 9 poy ole tps 9 Cajal golesdl S85 LL le ails, oben a8 pe S page salt 90,5 ge Cass AS slash, ge obj) Sil Glee oy pelt] 9 Gigs 93> le tla, 19 Gla 5 sls 2% Jo ASL 0nd pene Lalé colaat b aS glaub 9S ge By F dale Cush Sys Deerlen 2 Vyane wnocce ogee CusS> Kye a Seb gloceias by SH larules y glpae FAS ose yp Uy EIS LL, gb boas las ogo Spgs Oy eae dye ay aS aye “9 I Le ao ae oS Sl crcl oye 1 995 Gyates Oped yogcunysl SahSal Sates Ft ol bel gle} 9 p05 gl cdbel Jlazal wo Su ctoallase 9 Sjglsal Spd 55 yl aogte abel ogo 9 ab) palit lS ahs 59 095 Ded Sy ABLE anole L gS QciS gil 3) ja a Hl cyeam cian Ja tgS len gly! yo nee gblosbasl LI oe seal Perot ata ay eascngta b ult Gacunts 9 OS) Gyo Cary oblsbaiil omae Hey Let Gla GS Jo gue 9 aaagd soles aule Sigel g FEIT lel le ON Spey ae y scm aS yay IIL 9 A 9 Ie 9 Ae cee age 9 oll lS SES sas y SS Ue lol 5 ogege sla LOULS gle 79 oyu wale MOF HM Hed Late Sil y oysen jbeny adh ple ble oly oF AES 9 ai te FB et > PF IEIE 5 Fo, oh Fgh ake ol tly poled ne mate ler SOS ay (opening ARLILS Lath Lal y SLatil Jayi aja odie 9 joel Syyrpeh Sapna ring) SaS,5 Sole P70 2495 4 | 9 LE gloat Slejdpoye whi Ge pays books Ghj b gblsslail Slog axis (pede 4 a8) ols arly 9 alos 52 Via yas ann yo abacil slid aabigy 99 yu Se jh 1998 JET 298 IS ash a jl oe Ly beth Sigel Ube ays) 95 pated Thy 9 p99 pl 9 pF pone Golail glo aii AS BLT WTA Jl 9 AES ul dels! eas pRB |) pole OLS pg pl 49 09,5 Slo Glablie ay P95 HL ;> Ele By yao SPE [14S Gaol pees ad JLo! obardl IES gal sib g Gbleu! sly» Goll pad gs) GLE! JLEI Lbs gs oS poliad po iliel colle gale 259 Gly | gl tees Cel sab lis! uo jf AF aS Gate OLS cle cele 43 by Gals OIG Gog JlLe Gado 9 SS ye] Lily cam y boll j) ARID 59 45 og) glllae Allie oUF y ur SUIS AS ool jl gle SIS 3b S aamo Gols Mail eglyo Spel Gly |) oles prulys Glesl jl jee Gene & 99) SG Biya doce SIU 9 oly! Ghes Cols DEH a amg L bejy, GS pyghge LE 4 ached cet Lead IES a Lage Gol DE 39 prices SF GL! L DME Ly pn ey Gls 5 5A 89 JO Git 999 igh ey pale Golail pale JME! 59 GLU! 6 Wigal oy, poy SeEee HE eS Biel, Ol Leal polo may F gle U oy ghey aioy 09,5 Jel OLS 49 maze SA Gabo S pygige Gab oF ag JsSins ad Glas gy y alysueol opera Gigs Gaal Si5y) oF LES gl wuld ly pit Cole sy 04b,9 F lous rgry by POS pres |) OLS Le Uh p28 cael BOE aes Gil 999 oT ol |) GT po,S dad jb Be ogg gl ules I pte oy et plates Lay aS pals a9 Aiiy 5 259 0399 GUL jh oe S Gy U pa Gye ED em Alem Gaal OS o ule de GB Gar abaetys colgl jl KES ol oS eS WT tle leg 9 iF Jlaed OLS jo ly gles SEDI E ofa LF psLest 91, GIGI ol (Ey igre SI loyab nd LL 9 4 gyyy agtne SEALS p09 15 gallo 59 ST LSI 9 9 sb SIGs leaky opi 5 ashy sae Cab alabal adbo 255 lil jl piles 998 abby CES one 9, GES pts g KOS WS glyl P59 ST paseetantl y ys cago WAR lo 59 8 g pS JL 59 ok pS S85 ohyy pyle gLinte AUT Ge He sain | slaslgntng 9 dallas I JIS dae pln gensd 6 Sid b gd syne Ge 5a Gale Shay 59 g hi ogee ASS UU oF oI Slee GL jl plo ga og adaby oF ais,S Hh S89 $ lyst | BG IS SaaS aod 9 y alle | aly! ugicans 9 as, ab WS pb GLEN ST pee dees Goal O55 oyun (a) cl ecg AS sles pl da oS Coal Gade Noel onl dae pil ale GU ane LIS gpl DES gal psigread GLE 49 siglas ealgtine Aines ol > GUIS» 9 I pl gee 9 Cool bi aly wiley 5h p20 0295 gabatil SI SE ogg 9 AS Ji ale olbtiel age feet jr ole publ acdle olRtile ole Cte ge TAY alecutgara,t Ts Ali_sarzacem@yahoo.com (a) POS 09a le yp oatun gs Aout Se Sle 3 AES Cas ole pt GLEAN y Glyph olySkS auale JlEEAl Quo | DP DES tortie | at CLI 9 GES orden 0 Fiabe (glen ygS jb gad Abel’ Gul 2 2d plas AES 59 Bie Alt Seed LLG pS Go po,F Coby ahd Sopot Seized 9 "Sed eT KL pas Ge 4 td 00958 OLS a lala g Gir sogirs aylye tL Usp SBD age y 4 49 TLS gaat Sebel sy ail y Gail 22 E> sil, 52 Leely hey ae 99S jayd Gylel GEMS! 5 Gao Ia Ly 25 oaks eedgs Guigil po Lad fies jue: pia Ly sab j ar} gleam) AF GUT pgs Cayo Opals ool ly il opegy LISS CudS poles kos {Tad y oiled Col glial 145 wind 9y5 SLetil gy AF ay AF ES gs abe UT aS ogc) Garete ily AS aad OLS nl aS Galea 99 Ale AF Sal ac 09,91 ale ame 99 Coles ye Jd Gea 4 Sai Ao aalys oe Culp oi ype yo 9 8 oF Sista pga abe yy Bio I, pd op poy oye wal Joa AS 59 LS 5 pgs aly allan slate 6 i) ale Hb AES 39 US Ip opiS WSL Spa col wae WS peal oF SVS Ab pels Spb GES Ld cal pie LS cyl dallas y Cel vole G5 4) 9,5 obaidl Glan sb ooliteal bY tity ailysy Lal abe gol rst Bled Bi le 2 SF Mes ogy GES 59 Gee otilay GIES pad age Gate oe ally aS CAS AU GIN Coos Gul alo Ey GUS Casi Gly 99 F Wie alike oy ots aillbegls ooljsolys bg, 9 22 Gree Slap @ GES QBasls j) we 25,6 5 Feral JSS al, EAN pal UT daw 5) SEF ad AF aia S Slay! alsl oly |) dt g aialo pled GUS ys belay Cael as Sian le tl yo sdiggley 99 ps GIS obacil Coles jf aalys ga 4S LS pd Tepe Slo |) Gas a GES yl sehe LL ol BLES ap aij WF shesdl oy9 F BLS oa g stiles Leal 991) A! asia y Sle! ciety Alyy Leal g IKAS ulai 9 et cop ULE onl 42 ES ool Gazb 5! seb saise jg eacigalis JRE ay g LS yb oye Lac eigo 59 Epye Se Gj Lope dy AF ola Nasal glel 28 NB gall 9 ple lead Spode OLS pjlgacal oll, yo ant caslte VAD dda pene pe aol 1. hup:/sarzaeem ir/fa/economicsforall 2. https://www.facebook.comveghtesadbarayehame (a) ileiol calle sole 5's souks eels Tel STL AST e optics iu) geletel pple Sle 50 ple Gy Sige oLacl ple cb pe LIS al gelatel lacy cerca 9 Gans alles ly lye! sigyal easy, Col cals fe Saa3s al oaks HAWS Ghee I tar Ly dye 00g 9 abet 8, IES gS ole lige al th Sy Sle oleh 5 leas Gad oul ages bg! y Kyl io oblsolasdd Cut ans Sy clo aly cal 99 Say leplh Gal 3d y Cal Sip ly GUS aLal gal ly allay Pipl eeales ola 39 Gre tal Calan ster Stes IL eat 5 oll yo Glaus og HBS oe eae oo EFF, ip SLATES led ol Jy Cal SLL g Fogtone fay sLal gle Bee OE ode pga ay ol les A Ny pa Ly pole LS Gait ty JL 2 stetey Soles ibd 5 sige ke 99 pati pe 9 lil 3) 9 22h li AF pad arse 9 00,5 ob) DHE I OE ter A Sad D9 9 POS Sgt WS all y Joos al) GLis| Iyliy cel aseilys shail $453 SLs gl S09 woiSige cole GIyil 9 gala Atyssl doje 99S M26 sige BL Se lye & AISE g bey a5 g BI il oy) are a Cl OUI Sls 9 Ghaigg 955 Gola! Cols ayeu od tte gle slag laa Ge Jeb ans sie coal golatil Coles jo aatibidl laa Ss, et Al pall zeal Jake 9S ce Elb9 sfil Wyjle jf alizl aS GS ye g o9p aye Jhb slacil a Sb to bal SLecll 5s ol a clothe 9 SiS sp stiby JSyle ye gttee SIS OK ‘rege G90 hh alaill alee Oyye 59 byytand y Silas JS 4, aS Coal ald Gye S09 cae Bib oa30 9 gate Gages) dass JL oy AH te ayy Nos taped Sel & descr OAS atte ab F plead oS codecs la Lnghy A jg pal Cel atl alyaw a Jib Wyjbe oS WF Siszal AOL tls ogerg oLatil yo gone Glaslgs AF AS ce J caghts Jhb Baile giles cal mt Canad ig whl jl piles 45 cojlgn egy jl CS oye A cal oa gate andy Fy list oss jo Cul oySligh g pb Jes ang JE 9 layy tS 9 Lepadey yous Dyke y Sle iyo ay by rye Glas gs alae ales Globydty & jLs jbl Las be als il yoys ald cgay sh pile jl ejaue last ol laced J g CLG ys Soke 7 Oe GRIPES Lins ty Le aba j] ga 8 etal So Sob jae Jie 4 Sr ON SI als Sl ih galhT gly cal gabe aah 9 ab, abel yo oa SL4 Nyt Oni z* 5 cantly gy! i 25 aS poaiS borg Sctily oF! PH NGS SDL oy aS L Gaba,lib glia Jl Ver 4 Saag poe aS (>) (pas Cys SF gagtyys WES ano js ey 9S aad | gobasil a4 lye a8 4 aS orl Ul by yghs say alg pabiene JAS 9 pate wh staliy A 9 HS Jet |) Uaybl ODF pened ty pose Leh fle gla aS at ster ag5y Hy IF 50954 poy 2b Slay! aaligs golactl Gl ete ULL ogg Uys Qey SPELLS dpb Ub LAS Comedy! Alene 2S g719) J Wg ge Cys Wha ytigh Abide 50jlge Ao 32 ply AF Cal gpl altine aL WS elds be Wai ST ee 5 id cll laygtS 425 pl gb al felys thys & Sur! Bb) diets SF ty tL cclalcntyn 9 ye CDELLs wiles igh Sige 4S cul cols GLts atat gee SSL sige GUT 0 aS clade g Shaul ag deg b ola! jLs eal 81) Glee I Eye te Apfejzee Gola cei ode UeT L abla Slagle 9 Jhb ASS oye ojbs yo GLEN Jeni & 99,5 caals peti AEs ed 0d Ger ge 9 HL Ob Gh OLS le gle yo Gb JILL 4 LagSycuF yl ojybuo ASE oly B piles patie |) aod Gal Ul ath ash asl as b gee bG Sg OES Gig eS let |y BG dine} yw yo jlarsley Ste SAT il WSyjle cad ay ST AS ceed slot Sib g dle 05g oF obs GLE sl Gla glow aya taylRiab ops CLE! y DIS! Sl bliee Lo ay doye pl 2 tb Cb digs 98106 wag5 ede atlas lyse peel 92 Bgl gil Clad Cal AY g al 5d alle glow slau! Lgl WU Jlace! SL acts 13 BU cctools ge jl 008 9 SAB 22, She abel) SENS Syye dy Gly! sUlosLasil seg5 LU ojjle ainaj 59 Leal oles looks abel, ory 4 Olgas’ y Col Hage Joe daly onl Cool i529 WS yy-0 po tahaiiae Bint Se9 ote Sole Az 4 59H 53) Sst aS, SU Ose Hoy HE Cangle So 9 Camligl 59 9 lle Nike slacks (5)! Salen ogerd g Cutle y soleil dul SIL! 5S JSS E53 0,10 sslale ol jl coe thal ey ny alls late I jl gon E5 AAT bil Bye ls jah 55, Cooke daye 50 Nye y Cenaaigy i salons fal T Lobe S lols 59 See ath Sylice ay gn 5 eSQsye edad ayo 2959 45 989 opr 9 IS Gal 9 ITAF Js asta) o,)ait aalo gl jf tty op td Gl SLAB AS iyS daly 59 Wl 13th sek oles aly ga GMO) 5) Sy) Lal aS sbeul gauss ayy? yale by rye lige AF Cal ole 51 E55 bil oS yae VTA JL 9 gad cil gly! Seu ty Sia ge Gal IS 9 Glee o> a 4 5le Gytta Ly Gly Lal 9 09 sid 25s 0925 5 Sal sly gles Loty jl g vale Jgegd 9 bo (3) pire p Mise lee sop L sotle GL oblssLasal p37 si) SOULS Ny ayAS G25 cas ge bone’ gl be che ee) lady Ee SLES Lay Calg, P9e alle CL, oye 5 2 Parte Slasly 2 otisel aes MS ale 98, sas lal Lal ost, I Si ME clasal,s ily Sk oie clasaly Bes wid amiss IE gS 4S Ol late alae 3] tle 6S 5 obs his Fatlande Gs salah ely! y Slee ols 59) 4 obec cla, shale 59) & dle Slo bb sly Gog Sekt AO AS, 9 SMA as, ool lorige OR A ay Fy Lal thst bell clays 9,53 5 SL ab 2 Bol eB lb eal gas Spo 5 oT ly iY ple 9 Leal sbul osu ole SF SHE Ys Silo sjiguil gee setreS Sb asl Jas a ols BB oy ol WO) GAAS 9 iS opty Lats ag ope, le alee ojos ole SFT aed S ob ogre iad arte sacl 49,5 SPIE alee ol yy ag) Gilad CrEEe L agb AS l 5 Su Sey g dla dge SLs Ld ass ca | abe wal Older GIF JL Io aS 9 oF Jebel, oI 9 See sy ce wy bla 2° G58 9 Thaw Spt ky Je ne 50g sls 2 SE Syste 5 JUL AS, a ly Gil Sol 95Y 4S aig Jo HF splot Gale 8, YS as gal je aly 859 9B Ort Th a 958 By eg oy Cys clog fol 9 cll Pest Sat9 phe Glow y Sa jes calle SHAE 5 Gelso! lawns Mb Lal aisle eig3b loss ay ye Galee SOMES Sante alga Ladys tas 2, ays soysay SCs Sp gslail ab, oly 2 Sloul 9 ahatye 9 ye ode Gere iJ bach 9 sla 5 65K Alls Loy Sys glad AES pal bL, wolecdl ang glediens wh, ea cugd Glaslys SIs AS y rye pyat a golacil preblie JUEI 49 GES ois OU 9 cae pslgdedl gil jo he wa 5!) cas ali) la LS 25 ates AS Sol IS poste ol jetty 8h Cutlye oy 5 Py as al J lS yt cians lade! cadle gol So pel ~ cpapacts Ub ygl 59 coin! olRtsls oLasil ten! Quarterly Review of Economies and Finance gpioy3, alae yu9 ye Q) galeastl ud, oy Dglane cgloceuulens ial had Eb SFQlns wn layne Catal nS Sashes 9 gotten Shed sen PIE SHS Ayla ps “ata Shea! SPIE praane SSL ps wom lhy Adee sleds bs vo WS yan glad ae Co pain Alay aba cand tt ste 9 orl E35 ai A Olt a> Sh Alls monn PRS Taibo alps 4 op gu! snnnalY) Shall 52 55S y0 Si Ais att Ea RAS te Cale some ay saa nna oelin gh yao teem 98 iT te tenance ysl eS a Sesial nn Ne al Sa rmennnennnnnnnennmnininnnsncnnn(Y) Pes mmm asd slay adil 59 Sy (ls as nnn YD Sha 8 35 ya Sy cy In SIS slaty my Cae ly nnn 3S 4 SH JIE Gres 29 Bal sladlhays onmnnnn gS agile jf Cas, 9 wed 6 LUSHT Y JF coh nn S38 SB ae can ull oa S32) Selene 19 glae aad Mada “nnn Blas SF ommend gia E59 saul 2 ala, ww ‘mh Sib gl heh . mmm al elm Ep bye alge wh ial E29 pay Ei ally WE. emmy J iy! gal yg (ne sven jy) Eh slaps vn om 3) Ey} SHS a9 WF sa8 9 Keyl Golan glaceslen ieady Juad satasagS Lacdl slag, jb 49 Cys nnn SIgh 32 Cys Apa nanan Sian goed to BU lca ed ad scilgo Amoyy scdys alyssa! ai cshe Mo als sno pt lea 32 Sabi tal > aaig7 * lus sal, align DykS 4 ope ye SESS men A ER nn AN 9S JUST Calan Jian! ay Golara (glaculees tats food Aetia seen daly poplin a5 ait we WS Nh 49 SSN Se 51S pled enn yal 49 IF Hh alas! lle Gia ay ‘tye pslacanslusryed Jad solal ys jh lhe! als gai Nat 2 vale grist ak Set ate Sally 9 daaye CIE dea} 59 dete 5 id glaclfays S224 9 SOOO dsl» aio SARA, ES a2) Jos Nl 39 Gls alo ig, Js PORE ett Ey pad Ula Jes bt bh ~ OL ast aig Je 2H Shel pS Syl a JS Messi seul Sb iL F Js ~ lal Be gpg class ¥ Jes reed ale Jas like Os A Jos Or od eA Gal LTA Jes yy obshe y i125 AEA yLins Jes Oba jul ghee 5 aig M1 YS C5 9 Oball aie 9 51 Gale By alg A Js ~ Solaisl aks glayaite » Je LTT Jes Cys CYS GSE Js eye tsusil asl NO Ys wow UB ile a hs bale ola. WF vv GLA 54S sla paite yy Cad uals ASAE JSS ees oe avs ae FB e 5 PH SlayytS Alp ly wig, WV JS wy. oii AI,sle J jylasye EIA Js ge day closed,» §ie5 jb 49 ca l,ple jl Job 5) ae eo sn SL 59 (gale sles Egdy JSyibe 14 SE 3 J 1.Y+ xs «Salas ie latte 9 gi) p83 ole ae th ino cnn YS 55 )9 gabe Coles ita BLY Je 3 al, Spf JS ayy geile Soe ae ELT JSS BEG 5 a2) GSI 2 : ie IS jl GLB y 43,0 pa 9 ope ° emacs 5 Sail f ln sen gia 7? EE WaJgae Cow td AY OVE Jha yo bag lb Gall agent alge V gare sas Ayes dal oY Joe BaF Syed SLE Gall ails elo gar NEV SLs 9 gry pale 61S laps line F pe " WayyAS 45) 9 Spt TY isla 25s F Jy Ww so sb sl ¥ Sgr ee Spbecaly GaSLS shes iI agg 2S gaudy tA Syne TT Lact eg pdy cud, 0S yaaa GI atLS A Syne se Laalgi Caghld 2225 penal Gla aS V+ gsr sus naomi CaSLea yp OSS cyan GUO ad lS VV Spare soe egllgd GIL 49 OLS 04S yaad GE SLE VY Jur GR SLE AT Spar Glagas li VF Jgae GSE 10 Jone on AS Gh aS FL 0S geead Gla abl VF gar sons gle JW G29 Sipe OBES gent gla yaSL NY pa SejglyiS Solel oasis gad Ga sls VA Jae a1Sig ydgp AB yey oT yeaa glo aS LE AVA gue ~ als! 92 Siz5! Spee til aig) To Jose 45 Spb 19 08d ool olatsl ah Glee YY Jgar ti SL jf Alssee gla S0 a FY Jgae 5) abatl yo CUya ojlail GaSLe TY Sgr cage aad aS 5 IF gue gs glans S510 Syne aloe digal y cathygs ALS on SIE > 9 de aga! XS pn sone WE ih oA WS Gable os, clge slonisjm ASF NP gar TYP nnn » bal 99 Set Es diy TV Spar VO ec eee pl labo ob glyph yo > aS NA Sgr vor wilder gla sle ob gail & Vb Kio ral jo Cent V4 Jgor (08) dn” gdlaidl airy 4 Sehree soowlw 4ovto sLacil ple claojgal 5} Glyicge Aighe SF Cul gpl gly! gloslacdl ye azo op segs WLS pol dagd JE 52 olay’ 99 S09 CSLMugs 9 TLE HLSgS Cents jl gly! U oF oskizul S piles Hey, ol nd pS ce NB Gino pS ye arg Gp po deg ogy! eee 808 Spel) GT Chay bcd py Cee g slash Sy ola lie ssher Seal dighor Glaig,g old, U ol aba, Filo ncee Gey, Sail ari (ods Sz JS lo 59 casas gly Glas g WW G85) ear opt SG GDP) “Ub GalbU ys UES 1, Laid Sy Ny pad pai Gp ange GLE (SLs Si) Gattis Gailey ojb jo 1, oles! GOW 05g iN Ba yad il 50 Sey] sd teal desi GULLS prgtite Cpl O90 59 ES ae ar Ge SEE 5) ope Sol 6 Ledih I jay yl dd oF oad colt! chan (slo Mie > oles SSB 9 oT SSH 9 29 eae pt gala ay joel DIE! I ge lel 9 WS ca J IS Ss go $8.) ee IB te Sead 9 Sindy Siok ollie Ip ol agh tenege 9 Oy pad SF Weg age Gell Sle Susy! SL aa Sage ll dag gala a Mal ole te Fibs AalS J Jeb ty LEAIS a5 Spent glee 9 he Gaet WITS ak SAS ealye cla Lat Aly apa LT AS A Sage JF he ayy Lath yg J | Lady col enh EAE hgh Nine aeag 9 Ld ga te lal Ele 9 AS esl ota opt gt | cyl Sale Sh anyy8 apa CUE Gad She L ALaLDL dy IF A ga Sy 0 wlital pa CSP pea yo cpl de® 2. Gross Domestic Product 40d gly slasil ¥ eee a athe SB Oake 99 994 ojI5 Slpmene 59 0,99 Syl ca ag oles IIS yo halal alg calyl g tes Shel Sle Eye apt! ye LIS yaaa jl te oS Coline oe oF 0 ASL AS NL SE a pate 5b | al Sy asl Sy ga yal OAD gles OLS 9 WE abe 9 ad 8 AS Cal Selene pgp eat oll alg 995 JT Bi) Se a Le WS ee ad gy Ghiy Gil abclidy wale ceo ier oh Gel SAIS ul oS opp oil lige Gt, Sype oil 9S IRL Seal Ee WALLS 5 cal I AS Jo al Sant GIF OS (Mig 9 Ge G2) WLS 49 barred vaygs Lo ay $1 Sey! V5 AS jay Sa9 JKbe SO Sa ages MUL cal 23, Yb sbecdl val 50 oxsadgs Deas 9 WIS 35,1 45 95, sales oul GT cline 4) al 8 aye eb AS, dlls ay ode cyl ASL vets 25 yy olatdl 5 ool é, badly sUist Pa Ey Se cal 998 clea i laced J ST .Cul ag JS gl oF Ci pin wb Sacra yl SI, 5 rit Doce dell gla glarbi Ose LS golaiil GIS cgla,Lal OA ab JS I joe ely eS ot 6b ceed lsh Gall WI th ous Apules 59, SASS Obes Spe > pdt Clad Olle oy alo 8 Gol Jl Se gland Ie ieee TE cles BE CAEL ag nite oul ay oy aalys we bee coAily Ol penis dha S51 sulla BES Cal ogi isl Seo Laie pyle dog ge af Gold JL SPST ny Ul oth lage Vo ag ald tl 1 Sta cod alg eee ou ONS 98 go a588 abl ails Glog WO+ Jalen oh5]]opiuge obel pare SI ee dosh I algal Gels GAIL G BIgF Cool actly lagi D+ L oles csloog3il “PSI bel a labs PPS deals GFL GL wy pp aes Geld r 5 en 3] ali: la soe » Sage catetn IF 00938 55,1 Mel gar ily duals see 5 ae \ SN IF AS ol yy bila GANSU ay ol gs oF Sal le aU ay Se ee Seba Soin naire ee ae ea tei col 2Vatue " Fe Se le A lt pleads WF she Syl gla a Added cn Si aly aan Seo tay T ee ele et mit Sasa na els Qed Jee a Glee AS9 S zlib GS shes Ye goblet aby ay plane slocuulens Jol aad CABG AIF ae yp tbo ge GLE |, shail a Fan); Oy ee SB & Eb al ays BS I85 Coed yy Soar ol sess 5 Ayn Lal 4S oyb GT jl Ls th 25% Bb oaplte F sigF ular ares GLE T VF Js 59 lal Lele Gall b sys ai |) eg AS Le bl g oyfo Gobers! oalh 9 ez AG pal utile acd olaygi 4 YL cleas, pte scual oaks Golas! og 4 Lo 591, YA THIF clas 99 LnygibS Gpl5I9 calli cpaasl Agi I Jgder 2¥oojlebe| yy pb [ay | Yoojtte| gyre | as, | sYoorkle | sets et | as, ove | eas [ry | vvas suis YW |v. wel | ove aie [ory [tee Wal we] vera: oz | avy | ghee fre] ur [Gyros Po] trie ob LF of | cal [re] ory uo wl rar cuit are Sh [vo [rar SijSa ww] rate | lian | 0 ore oe fe [aan sia wl vaty rr ge | tv] are le wi vyor don | Y ry ee “53 vv] rita wet [A rr ot Pra] vor | ope ote | 1a] tae we 4 ny oyu fr [vir wer vr [Vay sey [1 9p blades Garine (slei,U - Erie 8 phy abl Sapte ep bel sl os Lb cd pty me 59 AT GUTS Cab 9 Uy ge Aisha JE 9 EIS x lias & UI 89,5 dogs Sub opt cn CEST AS eb pre & UI 8k Solos ol gid gies em ty es eal iP Sagal AF Cel gT Canty $y Ss Ul GVgtne Lely WCB play ae pes 9 bine Ghai Gly aba! ib 9 (2 Se ais 3 sly twp Se dpeiloes cole GallSG agi Oyeeid 5 diloes jl jgtS yw golacil a5) cul golacil a4, 1978p NB eta, drgl ayge iy Cally 99 bral Alyy Ladd tory Sy yo Coal Saw oye Aad ly olasil F —_—_—oooe eet asl Ui oS abene Gl Aree ly th cud oge5 a ioe G95, dati] Ho LW ,o Ll ye aay Fopteee 29 0999 GT 9 "Gale ab, ite Y Cl 095 oe Ups yo waallge Sato GED GallSG oly Ab, 65 dele jl gale lp grbadtl AB Fp Ady, J hes lat! abel Sy9tem 658 Sil Qe 8S 9 jhe 9 Sloe sandy TFs 409 59 oly! shaidl aS andes GLU Yb jbogai cel 095 4425 |) eV ad, 25 ages 4 tls sian SU) pete dine} cyan igy g PSB Bal,9 SF VTO Js Pa coal gl argt Uke 2S 3,5] gold Llp Gola crise bli hyd otha 9 lel Bie U olejpe oly! M1 Eri wbge Big) 0)99 Ss jw, SM ASL OMB I Go Sls ae 9 ODL! gles LE Cuedy gal y Cab Hal gly! egalasil ise oie NFO Jha gl oll gobeil 5, wan.ce GL gigs te jboges oul 4S aigS olan esl | @5Y e528 el onl y Soe old el Been, pls BS ge 412d 1) 00,9 V+ iL gL ad, E55 Gleb assbojb ohye jETL Pls Slee IF Sy lossy aL A0jh 9 le Glced bj] ole hyo ln! sLasil V¥VY B VTYY Gla 9 si! obae esis & Ailinskee CSLS dalal 9 oye * alge VTA. Shes Jcdb aabal VTA® Slr G cepa eel g Ad Jiee Grol ty 9 295) e894 See = amie growth ur s i si sal 2 5 jSS jl a dye tbo ; hg 9 bao lee tn otha Soo sts : Ep get WI ISH pte 9 bo oh St Pe ener os BD sobasdl ud, ay Bgbars locusts «Jy! fuss eats ES eee eeeeeeeeeeeeete eee eeceeeeeeee cee eee 2)g9 4 obec] S49 Lappe daly 39 odes dabie Gibby SLEMel ple g Cali Camas tals) Woo, iletty fle we BI, Ye ad, cyl ctalgil g Ceti eed VE Oy pghiF a osly Sis, pgs Aa oly ad tall leo WAF Slo iI golail a5, Ei oe jb eat GL Selo ob p4y pl oLetal aps yoo 0992 j9 dd cgtiibe Laps oad Ay 8 0599 4 Lakes 9 Cdl weuas be 3S 451, daa gi 9 by yadks dag pga 0f4yo Lt) atin Jove Coal Sine AS tad (GLAS y ee entlia danagl 9 oli, Jab 59 patie Gal cal eael ogy 2 099 lar Sx iI on slabs 59 ojaate ile SY god seal IL ab Glee 59 dag pede AF IV y2d Slo 4 Coal 005 bay sak j ged WL on! Pe Nai ge SMS slew g Cel oh cis yas gS QF sloped 4 Gly! y9AS 59 5} pgeite cl Saw DS 49 oS cal Gl che JS agdge Cyne 9 dary se lal dy SE U jg, Corl 05 cual oat gS gh alias ALA 9 Gs oF leo pyadia cpl dag’ agile 3 jot Gly Lljiles ser ye Gleplel » eg eyes GFT u ortol IG 4 ay soho ogcige otic ail pr dal o Gadls jl aes’ gaia Igo (cpl claacilee g Leela! oul ae Cates 2119 Srietay cline 1 ge 29 LI al dass patie jl SUS cages al, Ps Geo sgh Gbyi.ge Gl Glee 32 5 Col ol 2g tees BB g LAS ails wel o pygiia fe olaleig 9 etl tay aL Ll anal OS Gola ly ge slat 1 9 mesh agile al obit ly WAr ip Fle Sipe y pally ays Het ll IAS So 9 IO po 9 gal sare Syypae Sky 099 9 Sb 9 GLb dag goad Je ge cee eg ia al Fgh yi calle pyte 9 S opte 049 O95 Merle AAS oil OMe gat Jy JBL Jay as pda S ayy Ne 59 ony cyl cal at ae JL Mag ppt hie glyiees ya atlas pd Lec kag yy ST 0 Caspar in F age Arlyn Le cll osLal 03 coo Geng tans clin colin Pal igh Fat cee aay ol Ana 99 pe Bige dais 9 04) ul sigy clade tly tee Qe ys ee ye li be ST yc ty Mal LS Let ty gab Qa GUM ogey 9,8 eld ae ae Sal ae jab ae geek ele I Speke Ste EF yp] 9 Goulet) Sele ined langle 9 ghd aaj ee a8 yy goldtone ol gi re Sloe pg Mir aan ola 5 4 oguassl 4 stl Wal ly ed LW JS a Am oly lacs! § SIL Se Cael tole 8 i WS pa tees oS Le gy cas sa Saat singh pel api Sy ater 9 lel Shaya tey tag OTT eA Se pe Fal lS 9 a olgh sal LAG 4 Uy pada tdhgs 1 cBhys Niet aS 99 Ghee Alpes tal 9 Cyl esate b Lo Gea 4 Ae aieo ty al S abpe aele atl ool olay cul Hee PhS & gos plas or ole ob e Ares ral Sy aly sala aS dle 59 oy JL jo BY9 Vers aga THY Jl os ath e392 YO ADe pbg p90 slp a9 9 VO Iya 44 ogace 598 p9p0 dle aa, cis iI Gt Bepl Ose Srp!S 59 ee 98 Se atinnte S caian gl a oy i poade WHI LU5,) Ssh 5l 4S SLedUbl y ailjy, cglaoaalte feu iS ga5 CulS> old | Alpl baste 08S oly 2 PSE ke O95 iy Cel bly Syl Hee ange cans & Kel SAS ae FI paige Gy aig Le aS GLAMIS y Clas jf 5945 Hoy T cal il Cally HE COWS cal 088 ge he Silas oS cay oy! Ey al CLs 5 “Wala bli ne Mola bine YS Coad ath, BI tele Glacad targa Lis cle daa 59 alle SoS gas Ste 8s Spt ge etd alae JES Oy Saag ha Slee ple lass ald 59 gl HOS UE Oy o5b ee Gate Gy! IGE ola y Gly! 9 4B ood L Sa] Sh Vote Se cul GLAS Lis She 4a 59 Vyane Obs be GS Cuagd Ll acal cilia Hal le oar aha yl a gp AF J eS Jeb 9S ofuhbyo Pb le} ale b Sazslais lesb wo Bpol 925 i) el Ghelyl ly sco! lan Can Steg Jo ys slayytS Soy Clas alee jl clas g ceed Ij tins plea g! ys aaly doalie gyyl j) cl Aiaaag slog 9 lsd Cady Gul) cling PEAS Le saps cad GLEE Geauyoe | ob satan oles wast ool G35 15 9 ont NaS ct ol cutly wnaige JS aalaWBped Slat LAYS | abil Gipae tej SlespES Gao ayzy daagh Jo 9 lay 90 pitas Olas 9 YE jet ol 49 : : cess oS Ip cdltansy BN 85 yh oF gesLt col July) aengl Joe 9 laygtS 9 clas She aon Jats a> 0 po aa Sh aS mee hy! I PFA a shes pats Jus S oy Yo VVe+ Salus Teo JL 2 ah gal 1) ge 2. Non-tradable Ye golasil ab, ay Ggline glacuslen «Sg! fad 2 98S 99 pays lb) Auslde opege ouilgs WF S85 abul y ailpew elo reel WS ge seed yboline GaSLd gpl ane Gl yw 40T)2 IF Jgde ae ws [eT oe [tel =) Thar tab | rt | eletel se srhjl nS ogo fils ae oetd gales, cal boygsy cgay Canal jf pain Gal aS AT ab Ceaaly Gul pty WS y98S Slog py 92 ygtS Se 99 alee alo UALS ge Igo pod ae a Ce ene gy! 0° ee ect atl 99 Oo) Alps sal JL VY jae wel deg dojo A 25, Eb ages Sige Ay Beye YH EEL GAT Gal F195 oly 99 y98T cul dys iy 22S Sub JL VT cals ola a, £5 hl oa 61 Jo> sas g, Gil cpl 6 SS ge Igbo Js cute agar gh gly 92 Bul 59 ilps tel jo U AES ge gle JL TO 4; Sp0} dl wos 99 yg "atl y SF yoo Growl 4S ejb neee eee Gol eel Lal dag oly qgolatl as, 2 GUI) AS Gabe JE $25 SBT oul El Gal 72 aacaulen a 9 9p g0 galatil ab, ub orgs lily a Ste 5 NaF asbo pw ght AS cul gl argtcge Erbe Gad ay golatil yg Jfoukes 9 AT SIKLe IS Symes Sais 9 SI cpl iS oe IS 4 DE 5 95 cola 99 Salita SUIS Gls eadiont eosin! oj50 Glare i eS ce 8 5 pSpreonat Ale 5 ody Ll aS ge glad Eg) Se SET, eb SS cealyte &F cal SIP op ay G98 i) ST See alge 4 rode Lage sales ol gale 08 8 9 gl uk God Hie CEB J Sez Oe 4 Go5 Sipe 9 AT Sl Salen el teamed See dale gas yguby Saad Sy MET AS cas ps9 5 tule pes 5 Joy AF op UL} Stig ge oS s9+ 9 pled Les ttn ge SWS Glas yo alts Gea 8s ott 1. Growth Promoting Policies Aad sly ol W 6 995 5 GISe 9 Hig Spbte IS & Lg 05 olen! By AS 99 095 Se S sage oo 052 |) 29% Pie MY aisle ISLS lao as AS St Ar 6Saleyee ale ay ys gS tank ole PAW Mol cae) oly gs al Sasy» Wap Gab! olla > rigs ae yet yas cud ils» SpeiS Byes tly On One S990 GCL Sy Bly le ey 9 pe bel glee i oli oye Ls Fe My OS ooh So sialrs sai op8S teat, ay aa IS Un ate yg sel goal SS ope IF lape Casal pls os lye aS cas Line © Aaj U wiheetl ys at sales Sly sl as adsl Ab pF glad! as, Oly gal cual 3¥ bs PS 9 ol! le g gus SF ASU g oy sald oS goladil us, wth OF a985 59 SlFalep MEU opp ales ol) $9 goles pice ODP 9 Signe culo, acatlage Sigal Cudas AUS 5 selgs choo jeSily LElaE Joan ASly acu Gham 9 CNS alea SF Cb ays SMF bib Bo os 25 395 BEN So 9) GL Yio’ sls li ge Syle & FS HAY a 8S ay lol lly ul ASL py tay Olsiose Cly9 pb jl yy ol S alow alge abs 52S cate a5 sub aio Subee g] Shey Sig place G4 5 cases aber Ly Lay 5 9 clog ol cyl Li mi, 90 bay 6 NS alae Glee 4 SSMS l ns hal b pe ON se sebnSil ll CDLOl Gyo AF Cea 0d aie gh aheny daa Sree!) oll pty 9yf9 sale A 59,8 955.0 Alb ila, Jove jl ejlifale Sl eS ws lalge er oS Coy leans cyl a ub J iS jhe |) Bo ete PE 99 1 dade pape Iago OS yo ile ly oll bans ip jl ay cae & PAS Se oleae laciag y aun pol glajhile gb caw S96 SMG oye atl into we ule Oe cl 2 ts (5) A fe PIS SNS Lay ally al Sj) Seo Gis al jyybye cabins Cea Jag sl re SWIG ogy ay byye plas ypgd Kind 9,96 9 indy |) Seal pbs She " caseitl dglepes cyeeli 4) SOS? ON st law Sp05i aly egouate cola ng'y 9312 gil cael lap Geel We galecil ad ay Gylane iclacanlen Jal aad Ab ST eS g “Tyla gag 4s aed olG digas coly) Can! ool GLE 1) a, 9 dle iS go lal Sgt WB pat AB tole 4 lll sd pda 0895 jl glee sr > Laslys Em ABEL ll gS 0 calle 9 bgp glaalgs 2,5 glad Sole ay Spice AF aigS glen AB Aaland cle 59 La ao Goyge sl DHL gt my Glebe yo eT gad ee LF slash ab Vo Scud ile} 05 Sy yo amd 39 LS jE Gad STV? a9 51g! 59 Gl Hg) 9 SSL 99 Cal lg dalepe JUL 50) oped 092 shail ee Ode Cle pee ols Gul sd jt Le ING Sao Soe iF ath Cbs alee jeged 49 oer LE AS (OSU) Jyp ali b alee REI CLS ojlel Gigi gob 4 GjLiel 9 py GLmaje 9 coped GSE ITY: ano PUBS dggs Obe poze gleedyes LT Gi sb 5} 4S slog GleajS Les algo GLEE gal ply yh ops Slo Cole LT ge pogo pcg Gy Gores UKs GI ago Jab S809 joes kr lye tle SE Get 39 9 my JUS cant ae dS ily 059 LIF 0900 Cun ALL Og y pope Bye alge slsalyy og5 ce plu! oped ite dlemny 4b cdpp alas 4b GLSaleys ys SU KAT Ae ya Cal GNF ale ps Gdns (5259 AF opt ge Set 9 le Glan ze 4 Gale GRAB ote Onde GF Ate Alby 109s Lol GAIUS» ogdle Cg 9 ath 2F 5» Sal og pa cdg9 glassalso dz 2 89 Gye iPad als pty ilyee cleanse Gly peatlys Gees 0b oil p> Leal y dle Coles toy 19 tt alg 20S loo 6 NFu les CRBS Joye 52 SF Cul colo GLE 2d SF poet ge ote AS Uy! 5S. 4 QS Le 9 CaF 9 Higal tlie MLS Seely Spl ps St abel ge Sagal 9 Ay? CFA as, sled 99 8795 pt ony tee gythoys sila ade Glog yb gated y gl ols slbil (AE Sly iledl ole Nyala) obo 05, Ayla ps aial 9219) GIS Agape gad 99 5 S09 CML be by as,1o dogh ub ales oF GLE gly! obasdl 49 1. Levin 2. Loayza 3. Beck 4.McMahon 5. Squire Aad oly obasdl IF glass! daagh 9 ab shoul 59 diye pos ogc Clan tele Cotel algie WAS sate GET iyo oF AY ACLS Sle abl ts yl a glad 1 col cae GH J glu SIE tae SAS oad SIS tela IS OL Aaa; 9 bac opFeget IB p05 oype are Goll alle te 99S iF Syicge bands Te F gly RBG o0 pled sols NeaeAS Meas 9 At oS ed laa J Ss cal and Gaeta agelecil ad, obo eS CS Serle ON) Sg 9 ie a Sig ly) Cel Sle Gyd Caley Slee AB Spel ati eyalae tay A 5 base LOU jay GAL 9 welialags coeal Obes 59 Gb5 SO4 LL) abl wales claplel cy b oll ly Laps , J e ops gry cass Jp JIpsl eolane AF Koy 9S a Por et LE cual 09S oleul colatil Stale 28s Gal AS Saal oF uk, 09 GIS OF obo 945 Gago Ko goat 5 51 cle JL seeg ted bejslee sl 5 oy ol IS SSS Sp aly 15h ce SE 5 Leo JE & 65g al eaten SIRES p> 9 Slaten SIFoj18 b 05 be wa ,ghol lage ose alajles yb b ojlo St NE Bp 0350 CSIs Ggi> Ad a oyu A 97h Sle 1 ncaa Sle ila I Eo poke Go WSULe gio jive 0 ary AB Shae ob Sle Gye oy Sale ol edhe J bynes J uly ays CELE cua, Slay I pb ed A gaoee 5 IF Ea 99 Clys CSL cline Gy ogy alg ogtce Coble dog5 wb Ad sale aslo Gl & cow SE Hee 9 45) oo Shao ay yal ul oS? we SENS elas Jove jNlgs popad Ay Scat Se igi is Glan Lids plaid As Saray Ae te ole ti 9 Grae} Cale FT > gt ge Lancs Hs NF ales 0g gira ops 255 SLs Be begly Se Syed g shel seat S505 Spel I jk cine Ye CSIs gl Lie BS go Sao ly EF Kins gloss je WES 7 FI ew Oy 90 hed 4G] GL AJP 937 25 Ste ool Mewes LST Jl slabs daabe 1) 995 (ip) GjES pb yyye a ashes Hele Clee 5 yo Jes Glie & optge Jobe ig 05 rand clean ye dan oy hey 9 Maggs by Catlage Siljy ode GLE, ST Je 10,19 slams Canal pare Cattle 1. Shavell 2. Besley 3. Persson NO golasil ad, dy dglane glocuslen «Jy! ead Daly SS pS ol lel ay clas us Yel oagll | Spo KG Vgaree elsl egy jf > Gri LS WS op ge parte OS Col dy AS salad pee F Solo La Jle U AS a5 50 298 opto S53 GAL! iI Bboy 4 Bo | Le Salat] ILS car Sypod salysy GS ye wlatdl y Cyd Gye le Sle & So og jl BSL AT yp 0,3 Ske offal am me 0S ge be Wg pe Cys G algo & als was ples! Cale deo yey IGS Lately Cle yea dy td aly te cso b gl Labs 9 SYolee Ao 38 92 peal choad oly goles Gla Wojle Gael NU Cle ay AF gady Cie yo Opdge LT EEL be cles Seedy 5 Ae te bE ae clan 9 gelatel legkye cele Ol Bhs GR GIS 9 aS & Gato ee lie Gees GL ules dee vc 9 eaSLd Jond Gul a gold ILE ly kis Syild y Eglo py og yo aS Lye tual Sah S ced ne end Jus ay BGs eb pce JSLG glen ile bas a Soy ole BES ge 9 S52 592 OH Typ GIL ale SF Gl I olyl 92 Sup ob iFabeys jl 29°F NEE YAS G2lyil syle GAS 4 ary Gil wuld ips B95 GLC ILS 4 oye 59 2979 bed slopes} GleelKag,d acdbaens slayy25 9 Lz oF 25b oan) wiloogy Gules jo Geeg leks 99 059 Gal > eye Hr Aly? Geers) AK gS ee > I yt 9 ly yb 9 OME Sy Fal Gl MET i! Se dy 19, 529 Bal Gly Gare LYS aS gai culled sas 2p Jud ead ty cal opad Cag GAS LS 9 ule bbe b ail pte SKL9 07 aay yo SLB GT Y9F 09 FHF Gl & wyiege ab} LoS Obs S iI go,5 (Sy) eS Ga jph ape SF ol gat 99 GIS abe & dees Gel OT gs GF ale gp Megge HAST, a gash Ld eS go | WSL goles ph a ule ye a,b alpen tl Aigd s200,42 olde 4.500, See pad jl beslky bogs. gle Sggh oceal tpl 2 Cele gin jf Gybrol ogsi ormsyLts oF caaled oy soos jl Se SUT onsidaig gs Saeed JL 2 Gort ley jl oles po raul ob Bl op satay gt yes eo AS MLS LSE 4 GUT ples cde oy po ayal cpl a PEI, 255 Sig yd Cu pale Sy5p aeaig J jo Wl acta oubaslid oye dam Gly diaigg olpaly opt igs tu eS analy page 95 Lal tle ae AS GAS pgs abe a egpin col dy led dad gly oleasdl 1F —— reer al 598 IF Belo F Col de Gil ay py Coal Ogee Coulis shinee 5 ‘op I tule Cas yay Saye Gl alld ad ple y Cal 0d ole agrcl, yb jl 8 pen lbs job S89 JES ay |, CoS Gyd> a pol ad jl gale OBI E3, 4Sh th ghouls Gls catal ogy PRBS Cons captiia oped CSL a al col 90918 shal Gamal ly i ao Aig acagSo ty Cae gio GILL oye Cal Se 5 BeBF AIS pl pol OLB aS Spi ay hee Spo & yeletel lesb, 3 jl ol, Lope asthe Gai ge pe bl (ile celasls 1,3 woajg) Cull jo galacdl ape TT BINS Gate Odyat pyre ay bye galaidl she ily) ALS ats |) 255 Cpls Haste SWINE 9 gl shel jf alg CaaS 1 apices aay Gyld alga b aS Coal Pcl Shetty YE yo Sle aloo F GALL, SI SIL gyi aly 49 iS Colo gl A taper Sa 1, SOF acaal 08 yin alee Se JN OS uo oS Gl doe wy ob 15 G,b ABI SOS Sole a aslys OB AS OBL sleigh ay eds gt Sy » S195 aalys Sl te 9 Mab sol oA y B98 Sib J oe Fo oF seth yeales aus 4995 Sgl> jl gael obi95 U sao ees cathy alysd Cul Sl ype 25,5 bo Ad 9 Sagal a ot SOLS oy Gy! cite | ans ey Bllbe Sakasi Cal lead slept oo Fite jt La dant line Cal afin 9 serie ll Al atin Ls Ith os Ott 95 Salgs Gab 005b 9 5 Albi 9965 99 cal 6 Sales Sty 9) ogry olatdl daugs y 25, Crate NBs al Sgn Sle ls Np SNe gj gouty lle i Saab a CADIS g Coyle a sod CADIS g Laces BLT NLS gare 5 Uno ylous 95 Slee Sh acolyte Jp 9 65 Hh ay Gye Gaizige adhe OSS lls 425 Slee pl stare S49 Sus al Saal) Se 0098 CIS al, jails 5G gd pals Fale & GI S9 Ath CI ogy oy ce alls Spee CSI IS 4 Fs glyh 3! igi AS das ol 3h y aby eas slau Sto Saale SIS 05 OLB Slee 9 ae LT AS yo gly ale N Sigs ino 2 (sole Opes JSS 4) 095 Gyglgi 9 CADE oad lag lsl Mb Sted ys gasatyn J Les coy satya Sle tage ly ily lls ebay lay 9 we Ninny Lag) Laas add Jd0 yl 99 ly wclncre 3 GI ileal o eo,8 lagasaly SNe We gobaril at ay ghee cloconlees Syl fad Bl yyy F BLS Mes a chal Gee 9 ALT GNFQles Gyglgs GE Gly eghso b BYE PK 5b pee eld SiS gud 4 2b oaslsi cle Ged Ls sin, 9528 hbo SAB HES g Cope Sl yd de 0 Le syyls 9 Lael el g pte F0j Glew opt ge WHF Ao SLESST g lags cggine CaSlle ofpyds calls iyi AF Coal oul cS Gel IT ty Capt AS hehe Gigi el NU Gd Sy cys g Cad SL Cee, & Cyd Lag ee cal Ate tals 4 gadboe ad a Jie gle} 59 Ga Sanja Gline 4 Yoel gbSaleys N gabe 5 yah orl velo 4S Col eee cus! SF aes ol CF 9 FESS OAT ah 9 ete HL G Ate OLS UL salad! Lore soul boy ye oaT & aS Iz elatll EWS doje yo OAS obey! acscngs clap GVytne AE ou ne Optigs Lae 5 Golal clo tag, sues pled Gite GNSales ale, Gola gS us G cul CAA Salaig) coal ool GLE 1) G95 GMFaglepe y SLL Glee dal, Bo ge ol Gales alo eg abl se oes GiISaleye ope Lo jl Lo lg tl, alo 099 pag SF Sy AS ye 9S Gl Cass tal giles fle oglge a galacil Res pe jetta Cad OblFabens 991 See > e595 929 UH oy, sales ob; costae, Lil deo 4 (oii glatalye y Col oii gloasl,s 2G 395 Sad ay oll oLecdl hes Jobo & gl al 59 opt ce Gey Glaglugi jleo ig} oly Spent 9 Cas Coad gogsh 2 Slee yo Golyj Gloglesi —5ij! FS Glee Gaull I te L oft - 285 clas 19 9929 pol jg8 9 CablD ogey colatil gla nice Odd pel Colin elgg J Seles 99 Glogs dy BE qgolacil Siig dline jl c,So aa BS ga Oy 095 Shuulees 49 ola] Mile AF Coal ied! US GL obec jl BB S shay wb 995 EJF lye le deed ates ly Gobaddl dla Jka gle & 4 pe Sle ns plead 2L inl yp 1 29% Glsbes y Co! ja ae OWL 5 oaeeT JL ay ettes eb? Slice Ste Gilg & colardl Gale Sh 2A las, |Srulew jo gles! 1. Pindyek ad gly oLasil VA eee cq UB LS AF Cel Cle gah Ay LS SiR pred Og (LO 5 | ALe yes Ogu 9 00 cel of OLS ably oy by gs gules pL KOS Gul IE, oj Creal Gl Usable ely Sex W095 yea}y yaad Slated jg Se 59 51 eeu cols SY pglat ousmaylts Fle 19,19 1 9 OLS yeni Jlarol oy aualys 5S coleril gf LaF Sl Tajlojh canals (5 AF gb pr Ss pladl Hy QlT cul Kae pal geet 9 Bi pS pL 50 5 |, Uscoulew slo agz5 gb opel glace yeaid Cub Ugo AF Cool gpl oslo ogg Gul yo 4 age Laan ISLS 99 pe pend Gul clay dew 9 soi cal doje 55 1 sulecules Cg ST Jl> cau! golacil cane weil ge poped solatd MLB 9 Clo Glee git (golo,| 3 wood pdlel cology BL dass lal LE alo SI cul 09,5 LAE |) ob wince 313,15 gly 49 ans CASS Locke | oh foots (gla ghs Sub silges gogad tty AF Gules ogy gel TOS Sys lye lal 5 a Be Se lle oleh ale ly BOS A Fn y AS ge el CHsle Gupts Glas Clys af 38.) co Soe Bae Fp yale aS easly |p AED SLIME Sea sly Oly 9 Spe oy Leto pygh JL Se Mp SLL SI Sepak as Slt iI JST Aigas Se age pam VES Syl WLS Glacd dae weed? Vee sY Lata 9 5S WSs geen ca ay be» OU ey Sd GAM g wt JLB MN JL SL 2 ents ag 98 pol 48 a 9 sib aes aby Lal yl) ops Apolo db gaetg ty GIES 2 WS > 9 108 Del Mag tS gy Se pp yet J hd PS SiS oe gent Ayes Se 9 a abet ye jae el i aT Wes S ul cal Sle estos le 4 AS yl IE 4 aang Ja! CaS abo? pu Obey stings shal, ap atl ett J tl sla G89 0554 pales 9 pela gn ll ipnge iy osFgh lain, te can Sy a glide JEAN a 5 Spent pl gal SU alia Mer ola ogy gl ghd Sires sly ced Sogo ages Ly Sale Sle bal Staal Gy Ly o> edd Grand & elie sls Ln aS LiF ly slog ele! 9 938s Le! a Ly leat Salyer aS le! SALA iy Coal Saw Sig ASF ott Uy sea ple vaede sp ONS say oper Gl male STE Eley tip ge Made Gul po oS Sd ae Gal hy cas lee elas Gil 92 spl! Cabbie yo LSJ? OS% OAL pte Gaye jar Maw lal PEL asi Sd cla PSAtS Uy Ag Wald sb Joe lal 2 dae cA exe ala on lel ly SZ SA Sa Gl AS aaa gee gS Callie obyLd Gy Skill b gle 99 jl slate Sig ati line (aed S59) U Ld os SSL AS ay ajye cal cla jl Jen eaay ge jo eatalenl Sle 9 Go Ltil bg 99% Lily Fb sles 2 4 ab Kp 53 guainn 253) lynn Satay pip SIS yoAF Ot JiFly See lel alee ba! ESE I eed 4 sea line oo sigh tna y cae Shae Shae SLs elon ays glass oly epee Gul S ees Mote J tye ol Geet lye casF dy Ged cline F Wea by wis 5p shila bbl ogee s See syne Sel cet eshtod S98 alse Get a ders b ol TT BS shane ly sath agSel glne jf Sey Glan egy Gal Sal Kine ApS at Gol ote shee? Se ST LAS Spe 0 aay alma ea ashe 9 04 lel lacs ay aga Gla VA gobasil ad, ay iglne glaculen «Spl od Ps 51d 40 sale S glpl atte yytF 39 F oF gles! Castly cyl dy sub woatol IG dam Coeal pee Qobee PUL g Cad HS sgt dese aly Aled Hy Greed LHe jl py eed Ee 3 998 AAT Le sjalghl DBI jT uy gla Jbe 99 bel jon pte IE sec VEE alee ULI ayia IS ay he Al Legs Sp gels pis GU gione Ad Sle Syd ales Ly ly CHL agLderulen g GVptinn Pons wets Gayl Qibe jf oolitl 29S SS 9 obj) ealad GB ans jl shy wal putes 9 a2 F DE! by See ity a9 ABS Syyo aby tologd 9 cojlpto b WE alte cyl jf onli! ale Goad 4 JOS igo obrali GIS bey IMT ey ote JAS Cael pee Glee cgloaigh ay gz IF ole jf oobitasl cul Spgge Sb, playa ay jLarslay Lecal 59 Col 90 Gal jt SL eye pele 235 yal ial OB eget A b dg LSI 2 Gay lee tll ty) 9 CAS gigs pate 8 PSL Wiles Dye ge Ch9 2 5 sondcs hy pat ogy olyam ay aly Sool site 3 me 5 27S ig ee a7) IY SAA 9 opaigy Shakes 5» Gale lil AF Cel gy1S pile alte valy cyl collages (glaslgs g Lacdyo wilisre slayg tS GO Sib oF cual yl o,f oge5 Leal 50 oS iglis Eetblin 39 oF bal j)ainogge JL anagt JO 59 layytS Jb LB Cened S55 5 SG psiler 995) E589 cat 3 GS ME pal slang 1s gle yy tt ae sbballeser Sprte aisle llallesar lass gat 4 cal rteagly Ly ply cle! 5 aig 55 ly clhel oly |, glad ite a aiolal sey 39S Se Alpe lee iI Key toy olla SL alee pole Jie jo aS bye bby ty U Spe old claion) Sp bbelloee Gere Goletes ald chet ly were JS |) wend 425 yl arg WF obecel jytS SK a So cline «Sao salar Jiloe i} syleauy aide a5 alte Gal oyb49 ppt alice cola tal S loos 5 N91, ube gle Sib ale IGE sib 9 legly Shy ib slaytS Sy Soi 25 Soul fuld Lasley yl SF Col gy! toy Se wyb thy Gres! snsagl JO 59 Gla ygtS ly cglacunlen Sebo ply gle! 4y,> jf oolitul b wruw diel ytd 2S Fpl 9 Fale jayteny Is lel Qdy 9 29% pate Ul ty Sly a 4S aS June VY gobasil nd, ay Gybane loceulens Jy! ad shen P05 Sy latte jl Glee Kiliawys Quo 4 glal jo cath sales Golal ES 2 ASE GIy ob I ty F leat ob soled] aang (sl seul) IW gpl y HL SIS Ala pr OILS 49 Ago sloclKius (ALTE Judo a oad sldul ale AF cul 95h EF cel Ail dengs obec AF lal 9 siglo gl oes EB jl gta aaj F op 50 9 > GIT ALe pe Can! oily Leaeabe S2\pe 99 LI SBb oylp ojgam ily cad a Gul g CoG esl y; NS NB pabtiens (5 f354Le yaw leye WF bal tee Se olpie 2 g4 EF aloes jot Se SL GLP 99 Ga 99S ge | WETS y Shige MoS ply Ges Jia Leper ol i 5 ge |, Keel Clo 45,5 2S og2 lb Ly boca Femy 9999 F sho SEE ope ge Oy) eels QL w GIF gpl a F9 GIFS 99 2S MEW AE SS ty oo 9 ol AE pane GFL cP aS ge pole Her laste 629 5 985 oT el, 995 pares Luly 9 25 ee silly tl alge & tay cl I oe 9 AA pe Glel Glee sls ang Jo 52 clays bo S ool! Angi & aes, ly oS d5ete9 bg cape SIS 5 satenyes ers pains 6GFQLe ps Gop 952 bY 41 SI9 acBlaags slay 49 Slle CYL Gey j ala, tang Je 5 GloyytS > Grane GAS PS 9 Siig bor clean je Glo y deus JL> 59 cle. AS al See Wop ge (ANS praane 5 [SF tsbepes Sree AF 5 So Jule Col pb He Al le te Soe 9 Age ele pl JUST ol opt ge cates "Leprorel’ ela hbo Lede! PHY Gol aye 5 paedd clacilee g Hb ah AS gai pal S|) So pt Sy Ws > Spa slob 1. Foreign Direct Investment (FDI) eal bal 2S 39 99 p29 eI wedi Gl lap he ly Aeaye J 9 typ Gla lain Ey T He cede ec yan S gtaie al 090 3999 her 9 SALAS Fpl pty 9 SSF ga dee 2 SIS tape ly by ba ofS lye Abe 3 ink 2 S 9 ot SS ge Ob edd wlSulum dee 558 FAS EONS ln fang tt Salpge y gol pita al MoE LiFe Sah Sa yl SAS oll Lp $9 Sb Ls oF 9 Goh Se Spe S algge js ear tale billy lle SLE fT Me pal a sedis Loca 9 py Spe ST Ele AS Jaye bel 9 ath ile ge 6 Sy Se 39 ya ely gu 99 pm QSnap Cal lite GIF we ge 3. Intangible asset dab gly shail TY eS ge AT p Hub 995 ysl 9 Sato Coke Jo geet 4 pF Cyyo Gyles IGF G Cul BA IE GIS ale pes Giles 19 LS Je Gee 99 99 pha bal jo ay Gash pole wl, IN IS Sar L2ml) 9 Home 05 Oylee WH Voane daa J 9 slog 39 ogre IS staigh Je 59 Sle sp2S gS ge CASS spore Oma I JE Gat 99 Ll Gel jl S SRsgtS Gol jl slows 59 Oy yng eae yy Cally Ad sly cee Lal, S Vyas Sa AS oe Sed Myers ly lia jib tang Jo 9 loyyS 39 ye ele bee Edy iI te, U Uncle (peat oy ds op gai GLa gts CSIs iyi se 6 BFL po ball 9 9 Sigs il pel & Glee last Gales j Sox Prty, ME SSE jab ga 6,!Sarlape jl days Jie 49 laggy gatgicin lo CAE 9 el ae Mee JURE! [Ste Gly! atte dang le 49 slays yo gus Ss 9 5 See SKHe I ee FOS Shia! esl sales 959 FOES U ul tency Aanigi Je 9 sloy92F 4 59) Syst SEI sly Ga QE peo CNS abe Gaze 4 Tg cad lp! asile dag Je 42 GleygAF 5 ol painje bos yal 5) olen AS al Bb ghS LEST 9 Eyl Col aE ete GS tle Bopb jbl anh Coss gl ay Sols age 01, Co5e Gal aIB Gla alee LIS S20 spe jl opS ge LB aeags Je ys Layee alse claw 99 ADL 9 gang onlide 9 AUS Sods apd 9 td Gul Sti heh B Syjp GEESE 99 WO ee Cal Vgnrs SF Col ab ptey Gye GE Mee GEtb & “Em seS0h bdlbal S acil ge Gl Gail d rE GNSarlepe Gi zk j).9,)9 ogey AEA lie 49 G95 GO SUS al, ils yS1B psa gles 9 WS Cal gar WLEe WS ogtige anit 8 ae 91h Shy cl apt cL Beales 2 = ail tee F Sl pl alle GS ote okie 5 Iles i pd cad Sole 41, IS ghee gl SE ly sob ge able SUIS Ua aj LS 5 0 SF Gap jl alps yp Ke poe U oj ge pal) SEI a pS B CAS pcre Al oly ly pV Glee bee Covlssl iio ge AF oak Saul 095 skal ly yguad cpl 9,10 d929 9S GVgtane 9 pdy0 5 sgl ole 99 AF GW aye Stl syed cal ails Ly ghaal gel Seo GlaygtS 9 Coal ale lacued Seay lal MREME (pate ns gy | PIV Cade soaedy Cal b deerlye 59 OVghae 9 pope 4 Cuil oad |. Leaming by doing ———————- TY soles ab) 4 Sphere glacuulen Js! ead SEAS > 5 bose Glad Gl 2S 9 Gat 4 lee Glotle ps 5 Cul 08d Gr ge Be coms Shee oa 3} S52 tes abel 9 99 wil ed Gel Aetle> slays tS 9 telnee AS Ne 39 a2, 54 LS rE GJS eabe pes ie 91) bel gal IBLE 5 Spar abl acts Wa pal ay doles Yo oben VOY 5 er &y {YO oghlee TA+ o9> csjee Godlee TEV) Sls 59 Yo syle F/O Glubysl ygper cel 09,5 Cabo Yo ojbbe jkr ks gly! eas pil ates S Ode Yo oles VF 455 9 Yo ogkbe WF gkudh3 Yo obs HV glulgie THM cle 49 cor yt5 praia ¢5 1S ayla ya oiljae JF C)gae GY ole) Ge at Th = Tov Syl Vv Sob - SS See vt Lin #0 What a0 yin By to ery fy oll 9 lee Sil glad, Leb! ate Julie a slays Bey Higa SF ead aS ty Ce 9) jl pn FS clita a alts jl oly ge SF so al, 2 oalital oo nF JES ay Gly Sa Cao 59 Sb i135 E55 El Coal bce ey sloslo 5 1. http://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD Pie ast SHS clan oF wld Ste oi ec le Joist CLA oly a gol Jet aig lel DH Se tole FF SOE yey olen 39 9 SHA, lay Saal iy yj ela he slagaliny Jor a JS 29 Sat ag ay ab ASH ay co shal ta At ge AST a Syed y Soy te iy LAS g pha Jd ra te hg erat AF ca Spe J te J ig 5 al ole Sate SM 9 SHEN er 9S Maas cal pp Ft SE ble op sSpenat ell oo Satlite Gyo |y ag OOH pled St Ye dae J jer Sle 9 J5L ayy Las Gaal ap ot OS NS ogy ct cae 9p Sate alas aly PIE pe SIE Maye 8 Cod iF NS Sal rere SLs peg |y See getb yy ol 5S Sus So” She SOS oj oa aly gitsn I) ali oy sly YF Sade ol, IS BS Sy Slyx vb pS re) AS eal cash JiStlape SL 995 SLs logs cll JS LOIS hej ctl sald cabs y odd Jil La dan gly olesil YF — eee BLE Toe 9 AS oe FS la pe ines Ss 9 Go SS yb Se boslo L3 gal bul ota de Ny 29 seme Lely SF aap oper parce ls asl JEL y 5 MSaeps sollte ena sewed F S925 ly lide a obo AS ge CL o pares Daye Jen geilia iy, yb, PSY 6 aghd LAS bayer Ll ob oaks bole YS Seles sly AF ah abies Sol degen salacil gla tag, ssdlee giee ate y sly IS gaan Selse I 58,5 alge & ub Sib aang 4 aes 99 LaygtS Sy Calige Say Aig tiee aasclejle ey winplls ghey 9S Se pope Sd Gade Sl aSly 9 Bhae te Bye sale ly Sal ips ang LEAL Be iI Fe 5 Io Baye 9 olen Seely 0t2S iyeend (6,5 [Gaile ygal VLasm! aS sald eles! Ugo (glacunlen asile aclig g dealige lacy 4 Sl atlaseal "lass, ails gyal gpl yblosLacdl ce alge Gaeach PU yp JE Gat 99 9 ABD gs JS ye en dg 299 9 baile Vy Lasly Li aig go AL OTYY 15555) NE ca BI LT oF slocuogaon y pit ld ys pS 55.5 Pa le S col gl oainogedg ale SF ylp > Cragliie 9 5,[Faile Jl> gue 52 5 tty sl sdiged Gbgie Ay ailousle Bb ibdaags Glen S90 sy 5 pid Glepe G8 we cb lagi PF aslo ayyad ly gable loyy2S AS 4S aialo Glts slallde 49 (V+ F) gl Soo g glauge abel g o,gleges algo Mle glass cpl aS aul oul JSte Le tain Vy aby ay alaslys gl F gyaagla) stibo ge aby (gj L Ce |, alg aed GUT optics 2y)p 295) 40,6 & o,byo ‘ fe cai Glgie ty gl LIT y Sygh Tl> baags Fass gal yb L (Te FA S,09) 9 “Coe Saye 49 SELES I cage 9 CSS 15 golatl | Stayy args oyge ofauo Gal is ele as : ay Canttl dy a ashe hts GL 9 9 gene Site cle 4 ati ls 4 at, sly aly cereal Jen) : ene cles eyo EF ae 2 oti 9 witb S Sl sand al PS a diye dar J OLS ) sJbyne hj Soe some OF coe is a institutions Hausmann TO Gobeil Ad, ay Gglane clacesben s Syl ead CF gata 9 Cognit 'péslane) cola aS 9 oles OLS 5 jt stl laygt SAD 5I Sybdab shy La olgs Lagat WS ge ob lpi Gislae gIpie & Vyane GUI Solel azgl aceal ygiB cepa l> 9 CSL Fe SES IF o0lécal ages 9 eatbas 2590 519 peablie jf syle sole olyl 9 prede cl phe shoe asad 9 i AI Saly SF OS pend Syl obatdl le 59 al SIG clyy Na sy 9 pasa dy Opbice GELS LWT gS aLacdl Glgse L o5g pal a Cul sles) HJ catloye GIS Ne 59 78 5 oLatl pe ale Jobe 59 G59 5 pant sgh |) ol Sale Elo 39 Fy deg DE y oy) rlyy loys eps Gee Gp! GLEE 49 idly aul Coli aL! ered ENS e laps py) pli oatglyie lle Gib Lath 5 pI Soles wis ge lel PSO yploiled Cam Igil Jal g Uacaead CLO! g sib Waibe pg! spine CuSLe ogi! U regeas 9 sil Se sl 5d it ssl wal 09,5 he asa Fg CKF SL 50 SIG Ge ge ae Deel pl ose SE Get 9? 9 HOF ole opto col ty 59 Jib obasdl ay 1, 098 Gla Aa by a9 billie 9 5,15 13 jad G29 598 bg Oy cele rat pail glee yo Col jyyar g TAD Pole yien ges wolacil glis dulijs,) WAS ga ego sbatil gle SYgo5 I ails Cae Vypol op dog Se Gal Sol BT 1294 S9 age lal 52 Waly Ceasl Sey! ly Col ae tab, Je oy cece olatil aS, & ol ase y Od il ay Qh ei ylene ub Seal 009s genie 0958 GLO oly! skasil 9 63 SS, p0 clog labo LI oF Sly alte ong MUR I ay Ale 9 AF Lye tal gin Gels AF 99 Glghige lncals ay lac oS SL |p) obeacil 4 cds yale ore jt cite alo guagyal 4s Gaedyys WAT Jl jl ole Je 9p Lindo a Coal gy agi QUE SS oyg] glia! sob; 0d, CHlySs aslepes Jae Gul Ul wd Ge, abies cyl Cle cel oages Vy golail a5, olen 1952 jyg5p VL days jl Solo Gals Lane col & lige High 9 Cee Ctl Gtk Soar popes ty Cee ay ctlgo te 92 GNF aube ps 005 G99 Gly le 1. Acemoglue 2. Johnson 3. Robinson 4, Rule of law http://www. donya-e-eqtesad.com/news/386501/ 5 aaelye ls ool a Syed ous ly D aad gly olasil 1% ——— OE Tot eatin gle clacules osu 59 cual 209 Cuslial Lagat ily cslag iFaybe pes a Cal SF Soh ME He Old 59 SpSpemal 9 53,4795) pL yp ASL [5yile 45 ab alys oslo cab sb 5 SRT pre L day Lely copa & galatilae gle yb op 5 oye pre Sao 9 salontes Spb ty So iI ty We yb gl oles sla] aes 99 9 opt Clo Gls pal By AS oy) CulS> gl jl areal g arg, [KS ay alt ot! PSF Sls ad po FS SoH 45h 1S ay als doe 49 gal OLIS Sages col gol Shs Say calens Aye A ERS G99 995 jl gs AIS oped (toe 9 Aly gai g ib eta PES lererad ai Sipe Gal yo Op eF Spe (5 9,Alin) digyly UES eg y Ligt SES SUS ay 5 Fale 054 59 5 ]jSialees W550 Sail ol Sremat erloes AF 05 afb Coaaily cl 4 OIF cee 53 eopet Lse 6 Stole Gal A9jb obo alae clas Kile FT oS ce Oppo Spr ge le pita lel » oped oy 6 MS abes cy ltl dy Cyge Gul yo UF la! goblet gYLE & tush Cudle WF ah ISS (Fate opal, Gaba yp Ua syLiaglayes op Me optics ool Gad yglogus lays Fala GaN sens att 9 g Cand Ep yy Coal Spl" goad slo je Gl 9 45 tga Gels aS acy Ll abe Golaill dagi obec Gog ey Spy 59 es Las hiFaube ns yl Gig S Cal Gy S49 digas Cama pews GME Fler GE GATHA 9 DEB Wo 4 olacil (eoget ise GhFabeps Lest yo ali) aly b buss 5 Gal b jul EF uesioae syle Clgs bal bl GNF laps pam 9 IF go GlrcesdTy 61 Jl> og ge pel aaa dle 99 dam sans Gtalsdl L, Sob OL ged ope Co) 9 jut E I UAT ype |) bt Riles sobacil opigge Gola ae Loeg IAF abe ps jI sylenns 9 29 ist OY weged Hoy Cloulere (gdbaidl iy Sou Jolge S19 Gales als oy ol gt Op tege Colas GOLA ty sb alas Sahl Sea car ly 9 AS, i gai ole tl py Wes sel Ay Gish SAW oda Le Foc ao gi See 00 4g ab ed a yt) YY golasil a5 dy Golare glocwlew Jol ad KE lee & Srald 9 Hine ose CHL Lage 9 pyre Ub sLatdl oye he cashie LS Geo NAS, clots pare yaw ty bogie obs op oh jy! 5,552 ASE Gale at aly Pyne Less y colatl ob, cys) patie Gees 9 Eyles glpes bd Aylin 0, Bape ay 4g gd O97 WS Galas] at, pSV ogy ain ptm oe yypete sUbobacdl jI Se — phew Soh, Pll pe 9 ane, Saale 9 & ilidegs 9 abdengs jl pel laygtS aoe Luly wth 5 lieben SF bel le hel 9 A255 Syl Oytige phe Gites iI oe byt golatdl os, 25 Ua yg2S gale 08) E55 SOS ocean toe oll onl popes CF ean 5 Opciege Sh hanegt I> 50 olaygtS gabatll 08, O55 y day foo 4 6 op igo oS acdaass bb Se Legg shane Epi SOS ue totes spe tery phe & 6 ge HAS ug ety Aaalys ot 4 Eales layy 2S wins ¢) doles glaub ail) Sb Fy5p oledl Sy obal FT cea WEG Ls ald bjs ak Gul yp pS Ghats 4S eyptF ly LN coal bogie 50h; 00938 25,1 slau! & gteys a 2b, MG yal obacil Neal glad gl Glad 9 og: aalysd Gob} Moke 4 5d0)9 Cake peatd WO, Gul alle Salo WS herd sgl silo ly AF 9,5 args Se Sel & cbse 18S & 4 ld Gly PIE Fall ay cad pegs Ves Gat AF VT oped ae rey Cel Cap ogo Gtulno yal By SF VAD & gl gyal cal V8 ogde taboo ye AF Sigal stild gly Le wceal Seay ees Gl Loy salys Logie glollljgh BE 4 -G0)9 YF) ogge Glue oper SS 99 Gaol, GELS, Vyone gbell g WS pal tile CdLaeags laygiS Lye WS optics yates ee Ve Ls ab, a dlote Amo dew obo cee fe 69S (ly ET ge ed 1) aos aus bg? PI EF rma Lo 4 2p Sype tet doles Shh cildny slay tS 9 a pS Col oul ye 45,8 JD) 29 cade apgge tee tees Seal tape CELL $09 Spe JI A says 205 Gash Gill ag Paley PEAY SE Ei Ul age ays WF Slay ooh Ei claw Salat 43, Ei Oh Wa SAS gle ape AL AS Mas ee bay 99 op tl ga BU A) ly SHE 9 Op ge SWE Sle Gye anil agp ays VE gabesBh ab, dash 9 nl ns 8950 EF I Gat 92 yl jee SIGE pen cel oF BP Slag 9p Ul age Fi S86 og Laps Me sald Sal St Ce leas lay 9s oye asl gly Ae St ret Sa AUN oy 9 OSS pS cn ung SO da oly ola! TA 42 OV 5 yg 8S ool cole ab, Cit ger GUbdsLatil Sey! lle 255 cul 09,5 2d |, ES 50 SbdelB goes Jade cine Gor I Slee Glgie 4 pt! GL 49 1) te, Se ay cig low 285 gb abyss pho Eales cthanes clayyt goles ad, Weel 92 tee slow Joe tits 2 Serge CHhanagy gla ygiS ay US saalys dyad T, eV GUIS, edeags Jl> 9 slaygAS Grbac pee LB, Getey Ey Glad b OLS Cibdengs lay gus Sj ath Gow Jor wea JE 38 abtyeS jh ashen S819 aye Sly sikanys pho Eo Hg SiS los I 09s GE AS gl Soe ose Grtigiow JUS apd ly Vy Glad, weal ss ol oylge pz A) end alte Jo aL, gall as, ol Stag tag leo alayytS y cibaengs By) go Alten Jo 41, cele obatil g dass oLatil gliline 5 (Acdbdeugs (oldyytS pate Bide gh gel 4 ygz0 GrLaHT 25, gl Kemgy, oF Spite (Aang J > Gleyy2 69 5 golacil aby cpl si ged Aes 4 bey Ctl og! 095 nutes oe FAS Glew aS watlos.d 23,5 ossl aS ath 9 5820 alge sul Baclb cpl ly 208 laa! Goyd 521) pare ites gl) Stag, ool om Syslys 9 teapigelod onyay id SLE AS obs Qos Gsyplah gd oa Aaagig Sad Gc Gyo acts slag aula I ott aisy by gash by g Coal odd Gyplih AB, ole wrytge shoul Aenpig delosd Cold Geb i) a Nenad acts Jlis 4 ty tiles elo a5, Els 9 IF e955 sygoyes wines Ss gf ale Stes teal gibadl ayle yar dd SLES 5950 42 AF 5ag9 ale YUL, Bhs sgoree 9 S5bese Sly HLS alah yb) gf oy Se Garass 5 tils 4F wioy, Gio dauagiggjdoe alan Coal Cabll JB Seid dle aitlen a glull cl Nee dy 50 als fl algg bl lars Cable Sus aa te Sel" hee sisal Sys elypiy Noa te gogen A EH SIE eles BIS y Aaagiggeiod gla calld sindinn olacil I Seay sy bckas fa olor |) Alam Adib oom li oly aly, “gage op ye ast JF 9 Geog ares in Ole Ny ter ASHE Coy ly OMT ailyi ge she tae 4 sla 4, 2. Gary Becker ead ea ged ob bac obys AS Bio ale 3 Joelle gaia oil YA golasil ad, ay Gglare glaconlen gl ad 099 9 Rigel Sass age ald aly 99 5 ltl alee iF Gl ae | GS jd Hla 005 wopbags oailys ayes aS lee Gee SpSol, OB 9 Spi ge fide 098 hy prainnn Syp.0 4 ID ye jlen gf 59 AF Coal ottgy «tjgel plat JS Seat &y anogge pla! sy |) op8 IF scledUbl y lacislee gal aslo las! job AB5gel ee 370 4 IS 2 plasl oe 9 oll So oye jf elles oll ogee Ste & Lead cette ins plo! 25 sist Gyo lala 9 Re CHT Ly BaF ley 9 |) IW ol ake (had Sigh RET LABEL gSpcdt han b lye ay) GS 2 aad 9 ub J EELS gets tigel ly jeer lge tam oS cal gare tel cgn Cady eed cl iI saga 9 IF Aa ee Joe Glge 4 pigs oS Sal Ga 8 A AUS 9 Whe i gs ood a plerdl Gam 39 9 ule} DE 9 AF ata gla obles aber jf lip co pide 9 ogy Cope oor Cth TIE pabins GIS ale ps AF Col eben oL8l gly pi tte oF lS wy] pe cand tart & IE sale slog by Kam DE 51 Y ONS oo slp! clogs Les! jo 1 rod Becai ly oles gpl Tz se SL) AY GOs ggge fool Joe (sa y9 AS cual Gygal aber iJ IFS plas SigKe yl b jl als 29 SLA las Sas UL) ssl alas Vyasa oF Cal GT oS aang oT ay al oS glass dy] Cand dy egos Sigel al, jl She ABT jt ny Gla JLo go Seema bby ay dog tint go wl IF ge alts y due ABitile heard Ab 1G 9 ctigel sis abolie 4 uae Caner 3! LVL pee ogyy 5 TOV BS le NS ge Sale sie eh IIIS Sot Syyerte pet ath Lal aS Cul gab Bhat glasba yes oS dpe ce ile woo S Jonard LAH 59 66 IK VL Eh 5 Kew (1 95 yal cl Seah 9 gushed, yp ASE Aigel CudS (Faas GLA alg 9 |, og fl oad actbil cctenrd sla Sle 295 Sree byte Ail Ce 0d orgs gal CabeS ay ceersieS 9 lasbeIb Pinel E9818 iY canes placate Wee Vyas cal yo shea wlascl I ome ell cgiay seul cgthatayt sh seal sales F oy & lp I Ib ears She SMe 59 10gige Gatee Ab Sa Ipibe I oy cudLS sls olacebld I 3 8 by ape Sra Le ojatens RAS SIGS SUL BI iy aul ogee pled jl te bee) 28 AIS carmrysalys ale oy Feuops j| sntyS oo ios pla! oySlec uals 29 SAS cath Srle Spe IF GU 99 Ar 9 SS |) colin STS (lead Sy 9 col Snezet ba eS ol yo 45 coud Galgs IF jbl po alee Cul gl opdzge pls! seb Soce ON ob Coady Gaia I bb cy oli 9B o Slee b Gb gue Ly,35 Laopates IS dsb > Ul cle wate Bisley Syd SF ALS AS Ly coal ocsledl alleys Cabbie Syne lai! yp bee | LWT SF CdS ope Longe! 235 le & Galply ojlee pals Bg 8 Bab 955 SATS gb! ALI IS Silas aS 99 Cubby SS ge 5S ped Galil SSS ae 9 F aS oo Jal ifs AB Jy ctogy JF a hls S oy pdt li prt AI9d IF 9 Cal Sy cys WF olaygS yo yl op! AS Cibo Ly oT Tye gags VA ype cilgdel ube) wubge Cs 9b SLES sbeal 59 S32 SEs Sle sg25 sly igi tagig Gales dpe Ceaal byt) AF 9S Sle! ub iEgere 39 Saghgi Ska! Sal joys pp SH te Suge g Coal jl ils! lope 5 6,1AF Les megs Sager Se 79 Hopp ald SSL b je oF oylo 5 gob Gleslan; ory a Fe dy Seo sata gF ge PARA Bige 9 Aerge sald wd, gel> cloopal, oped 59 IS Sages 9 Alay tT gull nal SF Could Corga Zdel JL 59 ojlyad Julod Jl dale ps (ABE 0499 whey OUST WT SebS Spats 9 5 y9lS Sl peatd o Rigel «Gedod 3} CSL alge S99 a9 gt lage cal Hyd GbeT 9 2b, lel Glo S pe J Se syle Bg oF Ll wee ge ly ged ASISS Quiz LI ybige dt le LS ye js tole BH > g ols eljil y GbFabep b ye |, Golatll a8, Saget ype AF 09% cay ogail oi Sousa 5g Wocs bays 9 Aetes 39 CLS Oyen walle ieee g0y42 Skil 4 AOYAY cjielBecel g yet) Gcel dae pgs Jpel 5 oUF yb jl ook! LG tls Yr _ IW eau glad aes [Fags Sy U con AS Calle Gee fH sb 9 We as yo Ct gy, WSgcoeS dally eT cg jipto L Cle 29 A 2yb 2979 SL; Sleaihe UF 6 IFala a 4595, loo lay. 1 Spend glad coqnieler lies StgS oe Lo 19 ssece cclaslgs o,l0 3h 1. Murphy 5 ang 4 yeas lt SECIS oy» Fut eS ane zo sha gis Aaligy 9 earn Or? rn dat si Dole Bhat ead aly 3. Business climate eae nena TY golasil a, 4p Gglane glrconlen sl ad Fel) Ab Ul GS erea Glaiwl, U UF saes, Ugg ab LS il Sogdige ath! lye SIL: oye jf Le pm oS aul Gg aed plas Vy bagee 9 Sesh Wand S 3 ssbyeye 9 cba! wad SF HALT cle | lo syheo (SESd49 5 Deal) ghb © (ailyy» Cal jo) LET HL Caled Ky poe ade 9 AT ge GES gts SB I ph YANO SLs 59g Cau ot Gaye yg VAD stalllen cyl 32 2pSge J > ASL a5 Jota cael 0d SSL VED AT TENT JLo gag We ass Sgn pail GALES) Gl po | Abe slay atledines Castors iI Se 258 gb lkeules oly ccate ply line gpl 45 2,10 gel jhe So 292 act 9 WAT SLAB ogee AT old olpl sled ly |) 45, Aon) hie UALS raion JE Gee 99 9 ¢ ATLe glyol og ce cdalie a aigS ules sare ol 9 lj dataalns E229 Gye sagen AF Cal cyl argh le 42S elec Sy Cull po Se ehyae Bt rb 391) ly AS i tg ote Up AF Sel oF AS gb ljSenles Gok; Slee eel pF Cai sal yo AF cailes > sarge Gli 5 gaa Le 15 og NF abepe cal Jj Seolew jes! 9 ogee che WS geen Cl yaas 785 jN ayy 45D Jyh ole 45 ws sheets | oes | ote ass | ott WY ails TY aul,’ 1 tins Wa SS zame| | deus r digs va ges eye T SSS vA oo Sy ¥ Sas YAY oF rs) 0 os vat Y sy f jae var Ae gbeb st v Kyl VA0. e[ ir aly A why VAY oir cles] omer Nor ae 4 wa Doing Business sl, — gate OES Ft p25 Lyte args GLE AS Gad LS gpl oan JSS alge Gad Fa p25 Jyher N89 bal 2 by Woes pla os az U GMsb 9 pM ne SSSyyy loans aS amt cunsl 09,5 1, www.doingbusiness.org a Sil heed cabo Je Sn Se sill, ” ees | Gx | tyes, a a ey ww [vy | ow pr = : ei . ¥ 10 ° (law) Wags Ob ia) v SS gar ro | w a a Gy) dei Yo | pay boy sae ole Vie | AF or TN | sal jlae,s) ape ene wp TWA |e bog gba SI a ale Bae wes Doing Business cla, aie AD WS gers lel Cyaan OAS Craae eslngyasls V cJyde 5 - sek Secs, | Seco dled | talyl sigh Sinld oes Sb Nisate “ys [@) 3 |#]| a Tm o ] a, 2a Soy SIS see Se Gis r| oo a] ergs [oo] Gaoty |v sae o we (a : ste) ae ste) ai esl sly 05 gle poe w ® ' TPR 9 Set) oh a (lle Gs) Ayaka phe Spe 499 aphe eain ape potted da] mbes |t | tas sore frirae : WA (2.059) 9p SWIU] INA} oh be OS ply Gy Ob) chat roa] 2 er yy | Mash ee |oa0j0) lacs (has) ry | Selsey aby +F [(e2) aoe £9} Ga) Sy a) Slog eed em ote eS] 1200] oe tra FE pain bes Doing Business lai, ~ aie CABLE BE yy GASLS gpl tool Cepebcyll, Gar wel dogi 0590 FG Ss Gas ls 5 9 cal shad sles! aby G2sd> Gog, 245 Ly o0F ygel Goll» base as” SLL eyed amg Cul oh slo hj)! ob ES Coda ly gpl abet Gad g gd LW oy ype pe 49 Ld tual cols Hal 1, 6] seal 09,5 Can |) PY alSabe yy tS VEY lee global TeV Sle ALLS Guba yp croc YY golastt ad, 4 Bybee clacuslen «Jy! ead SAA SHy CabUb Bi iI yg e574) OL OLS and cglaceSL AT Jyde 4 2 olalady | adlede jo gIylad, ls i: 8 x \ 3 WF TY \ y SaesligS gleply ops Ep 9 GdasbigS 09 pow Ogu Ey) Syl 2 Spe PN VF Vv Sly shel gy Global Competitivenss Report (2012) CAE) CS g0T 9 Cubliny OLS Comat esta Qadld IP CJydz ke wolales, | sabe po tales ea aT iF Sade 9 slag aF W Se pL VE ot a vA UY get lee oF ve ee 2 Jo Glan ll Hy v shen bs dle F AS 9 jal sw sl fo) “ Saslel ons E> vr 9 slg seep WF ¥ Fs al TF F hal Teas F 4 hel aad a 3 i ARS ass 59 ples Global Competitivenss Report (2012) IG > 9 Me ObjgaT OAS uae eolagaSLd IF ¢) 2 ote» olplasy sabe 92 Ny! 43) vr iv he vo ro 4 a W VF 0 AG, Sa SLRs Sigal ls ls ra o esl, 5 pple tigel obS ar q Cape slassStib iS ee vA a ibe 3p Sipal ae ee? iy vO lie Six! ve 1 Blo 9 peas Giipl sy VY va Seat Gn aigel ely Global Competitivenss Report 2012)

You might also like