You are on page 1of 13

3DSHU SUHSDUHG IRU SUHVHQWDWLRQ DW ,36$

:RUOG &RQJUHVV RI 3ROLWLFDO 6FLHQFH *OREDO GLVFRQWHQW " 'LOHPPDV RI FKDQJH Political Awareness and Democratic Processing: An Interactive, Unexplored Dimension *Srivastava, Vivek Kumar ,QWURGXFWLRQ (YHU\ GLVFLSOLQH LV LQ D FRQWLQXRXV VWDWH RI HYROXWLRQ $ VWXG\ RI GHYHORSPHQW RI HDFK GLVFLSOLQH KDV UHYHDOHG WKDW ZLWK WKH SDVVDJH RI WLPH DV WKH QHZ IDFWV FRQFHSWV WKHRUHWLFDO IUDPHZRUNV UHVHDUFK ILQGLQJ DUH LQWURGXFHG LQ WKH GLVFLSOLQH WKH VXEMHFW LV HQULFKHG DQG PD\ H[SUHVV LWVHOI LQWR QHZ FRQVWUXFWHG DQG GHYHORSHG IRUP 7KLV HYROXWLRQ LV QHYHU FHDVHG GLVFLSOLQH KLVWRULFDO

FRQIHUHQFH 6DQWLDJR 

DV QHZHU NQRZOHGJH LQ GLIIHUHQW IRUP LV NHSW RQ LQFRUSRUDWHG LQ WKH 7KH SUHVHQW SDSHU LQWURGXFHV D QHZ NQRZOHGJH IUDPHZRUN LQ WKH ILHOG RI

FRPSDUDWLYH SROLWLFV SROLWLFDO DZDUHQHVV LV VXFK D FRQFHSW ZKLFK KDV QRW 7KLV SDSHU DGGUHVVHV WKLV LVVXH DQG DWWHPSWV WR FU\VWDOOL]H LW LQ D FRQFUHWH IRUP DQG VHDUFKHV D VSDFH IRU LWVHOI LQ WKH EURDG GLVFLSOLQH RI SROLWLFV

EHHQ VWXGLHG RU DQDO\]HG \HW E\ WKH VFKRODUV LQ D FRPSUHKHQVLYH PDQQHU

&RQWH[WXDOL]LQJ SROLWLFDO DZDUHQHVV LQ GLVFLSOLQH WKHRUHWLFDO SHUVSHFWLYHV ZKLFK KDYH EHHQ GHYHORSHG E\ HPLQHQW SROLWLFDO VFLHQWLVWV DQG VFKRODUV ,Q WKLV UHVSHFW LWV VXE GLVFLSOLQH FRPSDUDWLYH 'LVFLSOLQH RI SROLWLFDO VFLHQFH LV HQULFKHG FRQWLQXRXVO\ E\ WKH QHZHU

SROLWLFV LV LQ D SRVLWLRQ WR H[SUHVV LWVHOI TXLWH HQULFKHG ZKHUH WKHRUHWLFDO

FRQFHSWV DV 3ROLWLFDO FXOWXUH 3ROLWLFDO VRFLDOL]DWLRQ 3ROLWLFDO FRPPXQLFDWLRQ WKHRUHWLFDO FRPSRQHQWV RI WKLV VXE GLVFLSOLQH 3ROLWLFDO DZDUHQHVV

DQG RWKHUV KDYH EHHQ H[SORUHG DW LQWHOOHFWXDO OHYHO DQG QRZ WUHDWHG DV PD\ ORFDWH LWVHOI LQ WKH VDPH UHDOP DV LW LV QRW

GLVVRFLDWHG IURP WKH LQWHU WKHRUHWLFDO IUDPHZRUNV RI WKH GLVFLSOLQH 3ROLWLFDO LQWR D PDMRU WKHRUHWLFDO FRQFHSWV  ,W QHHGV WR EH VWXGLHG LQ

DZDUHQHVV WKRXJK MXVW DW D VWDUW VWDJH KDV IXOO SRWHQWLDO WR EH GHYHORSHG IUDPHZRUN DV LW PD\ IXQFWLRQ DV WKH PDMRU WRRO IRU UHVROYLQJ PDQ\ RI LVVXHV FRQFHUQHG ZLWK WKH JRYHUQDQFH DV ZLVKHV WR UHDOL]H WKH WUXH GHPRFUDWLF VWDWXV WKHQ SURSRVHG LQWHOOHFWXDO IUDPHZRUN PD\ EH GHYHORSHG DV DQ LPSRUWDQW SROLF\ WRRO D ZLGHU

IRU LOOXVWUDWLRQ LI D FRXQWU\

3ROLWLFDO DZDUHQHVV DQG IRUP RI JRYHUQDQFH 2QH RI WKH PRVW LPSRUWDQW FRQFHSWXDO XQGHUVWDQGLQJ ZKLFK KDV UHPDLQHG LPSRUWDQW XQWUHDWHG LQ WKH GLVFLSOLQH LV SROLWLFDO DZDUHQHVV 3ROLWLFDO DZDUHQHVV LV DQ SDUWLFXODU FRXQWU\ 7KLV FRQFHSWXDO IUDPHZRUN GHFLGHV WKH W\SH RI VWDWXV RI GHPRFUDF\ LQ ZKROH RI WKH ZRUOG ZKHUH FRXQWU\ ZLVH WKH GHPRFUDWLF SDWWHUQ PD\ YDU\ 3ROLWLFDO DZDUHQHVV LV FDSDEOH WR UHSODFH RQH SDUWLFXODU IRUP RI GHWHUPLQLQJ IDFWRU LQ GHFLGLQJ WKH W\SH RI JRYHUQDQFH LQ D

GHPRFUDF\ RU HYHQ WKH OHYHO RI GHPRFUDF\ DV ZH ILQG PDQ\ YDULDWLRQV DQG

JRYHUQDQFH ZLWK RWKHU LI SHRSOH LQKDELWLQJ LQ D SDUWLFXODU JHRJUDSKLFDO UHJLRQ FROOHFWLYHO\ GHFLGH IRU WKH VDPH WKLV FROOHFWLYL]DWLRQ LV FDXVHG GXH WR LQFUHDVHG OHYHO RI SROLWLFDO DZDUHQHVV 

3ROLWLFDO DZDUHQHVV WKXV SOD\V DQ LPSRUWDQW UROH LQ WKH UHSODFHPHQW RI

LGHRORJ\ EDVHG RSSUHVVLYH SROLWLFDO V\VWHP WKRVH SROLWLFDO V\VWHP ZKLFK

FRQWUROOHG WKH UHVLGHQW SRSXODWLRQ ZLWK VWURQJ FRHUFLYH HIIRUWV DQG ZHUH

VXEMHFWHG WR WKLQN LQ D SDUWLFXODU IUDPH RI LGHRORJLFDO WKLQNLQJ ZHUH UHSODFHG LQ JUDGXDO RU VXGGHQ SURFHVV GXH WR LQFUHDVHG OHYHO RI WKLV FRQFHSWXDO IUDPHZRUN 

7KLV LV WKH UHDVRQ WKDW RSSUHVVLYH SROLWLFDO V\VWHPV GR QRW ZLVK WR DOORZ WKH SHQHWUDWLRQ RI OLEHUDO WKRXJKWV SURFHVV RI SROLWLFDO DZDUHQHVV LQ VXFK FRXQWULHV LGHRORJ\ EDVHG SROLWLFDO V\VWHP LQ WKHLU ODQG DV LW PD\ DFFHQWXDWH WKH DWWHPSWV DUH VWLOO PDGH

E\ WKH VLJQLILFDQW QXPEHU RI SHRSOH WR UHSODFH WKH H[LVWLQJ RSSUHVVLYH RU REWDLQV WKH WKUHVKROG YDOXH WKH RSSUHVVLYH UHJLPH LV UHSODFHG  WKH IRUP RI JRYHUQDQFH 3ROLWLFDO DZDUHQHVV OHYHO RI GHPRFUDF\

DV WKH OHYHO RI 3ROLWLFDO DZDUHQHVV

,Q WKLV EDFNJURXQG WKH 3ROLWLFDO DZDUHQHVV LV DQ LPSRUWDQW IDFWRU WR GHFLGH V\VWHP WR VXUYLYH WR D SDUWLFXODU WLPH SHULRG FRQGLWLRQHG E\ PDQ\ IDFWRUV PD\ LW DOVR DOORZV D SDUWLFXODU

YDU\ IURP RQH FRXQWU\ WR DQRWKHU DQG LV

PD\ UHPDLQ LQYLVLEOH WKHLU XQGHUVWDQGLQJ LV RQH RI WKH PRVW LPSRUWDQW WDVN ZKLFK FDQ EH DVVLJQHG WR SROLWLFDO VFLHQWLVWV 3ROLWLFDO DZDUHQHVV GHILQHG 3ROLWLFDO DZDUHQHVV FDQ EH GHILQHG DV DQG LQ D SDUWLFXODU FRXQWU\ ZKLFK DQ LQGLYLGXDO DV ZHOO WKH ZKROH VRFLHW\ SRVVHVV LQ D SDUWLFXODU WLPH

VRPH RI ZKLFK DUH YLVLEOH DQG VRPH RWKHU

D VHW RI LQIRUPDWLRQ DQG FRQFHSWV

3ROLWLFDO DZDUHQHVV LV WKHUHIRUH QRW RQO\ D IDFWXDO IUDPHZRUN EXW LW LV DOVR FRQFHSWXDO IUDPHZRUN ERWK RSHUDWLYH DW LQGLYLGXDO DQG DW VRFLDO OHYHO ERWK 3ROLWLFDO DZDUHQHVV LV QRW DQ VWDWLF IUDPHZRUN LW LV DOZD\V LQ WKH SURFHVV XVXDOO\ SURJUHVVLYH UDUHO\ UHWURJUHVVLYH

RI PRYLQJ WRZDUGV KLJKHU VLGH DQG UDUHO\ PRYLQJ LQ D GRZQVLGH LW LV ,W FDQ EH VWDWHG WKDW WKLV IUDPHZRUN HYHQ LI DWWHPSWHG WR EH FRQWDLQHG PD\ QRW VXFFXPE WR SUHVVXUH DV ZLWK WKH DGYDQFHPHQW RI WKH VRFLHW\ FLYLOL]DWLRQ LW LV DOVR IRUFHG WR PRYH IRUZDUG

3ROLWLFDO DZDUHQHVV XVXDOO\ SUHYDLO DW LQYLVLEOH OHYHO LW LV LQWHJUDWHG ZLWKLQ

DQ LQGLYLGXDO DQG DW VRFLDO OHYHO ZLWKRXW DQ\ VXEVWDQWLDO H[SOLFLW H[SUHVVLRQ LPPHGLDWHO\

,W LV LQWHJUDWHG LQ D JUDGXDO PDQQHU ZLWK QR H[WHUQDO VLJQ RI WKH H[SUHVVLRQ ,W PD\ H[SUHVV ZKHQ WKH RSSRUWXQLW\ DULVHV RWKHUZLVH LW LV YHU\ GLIILFXOW WR DVVHVV LWV LQFRUSRUDWHG H[WHQW LQ DQ LQGLYLGXDO RU WKH DW OHYHO RI WKH VRFLHW\ 3ROLWLFDO DZDUHQHVV LV D FRQWLQXRXV DVVHVVHG LQ D SDUWLFXODU WLPH SROLWLFDO VFLHQWLVWV SURFHVV LWV ORZHVW OHYHO FDQ EH

YHU\ GLIILFXOW WR GHILQH DQG GHFLGH LWV KLJKHVW OHYHO EHFDXVH RI WKH IDFW WKDW ZLOO KHLJKWHQ LWV OHYHO DXWRPDWLFDOO\

PD\ ZRUN RYHU EXW LW LV

DV WKH FLYLOL]DWLRQ ZLOO SURJUHVV QHZ IDFWV DQG FRQFHSWV ZLOO EH ERUQ ZKLFK +DYLQJ VDLG VR LW FDQ VWLOO EH VWDWHG WKDW D PLQLPXP EHQFKPDUN RI SROLWLFDO DZDUHQHVV PD\ EH GHFLGHG LI VXIILFLHQW ZRUN LV GRQH LQ WKLV VSKHUH 0DMRU FRPSRQHQWV RI SROLWLFDO DZDUHQHVV

3ROLWLFDO DZDUHQHVV LV PDLQO\ FRPSULVHG RI WZR PDMRU FRPSRQHQWV ZKLFK DUH ORFDWHG LQ LWV FRUH )LUVW FRPSRQHQW LV IDFWXDO DQG VHFRQG RQH LV FRQFHSWXDO 3ROLWLFDO

DZDUHQHVV EHLQJ D NQRZOHGJH EDVHG SV\FKRORJLFDO WRRO ZKLFK KHOS DQ LQGLYLGXDO WR WKLQN LQ D SDUWLFXODU IDVKLRQ DERXW WKH SROLWLFDO SURFHVVLQJ DQG SROLWLFDO LVVXHV $V IRU TXDQWLILFDWLRQ RI SROLWLFDO DZDUHQHVV LV FRQFHUQHG LW EHFRPHV KLJKO\ EHLQJ DYDLODEOH  ,W EHFRPHV KDUG WR TXDQWLI\ LQ D VXFFHVVIXO PDQQHU

GLIILFXOW WR DWWHPSW WR GR VR DV LW LV KLJKO\ GLIIXVHG DQG QR EDVLF IUDPHZRUN <HW D EDVLF NQRZOHGJH DERXW LWV PDMRU FRPSRQHQWV PD\ KHOS WR GHVLJQ

WKH FRUH SDUW RI WKH 3ROLWLFDO DZDUHQHVV )DFWV LI XQGHUVWRRG LQ WKH SROLWLFDO UHIHUHQFH DUH VWDWLF NQRZOHGJH XQLWV DERXW WKH SROLWLFV WKLV PD\ LQFOXGH NQRZOHGJH DERXW WKH SROLWLFDO V\VWHP RI WKH FRXQWU\ RI WKH SROLWLFDO SDUWLHV DQG OHDGHUV

WKH FRQVWLWXWLRQ NQRZOHGJH DERXW WKH REMHFWLYHV RI WKH SROLWLFDO SDUWLHV DORQJ ZLWK WKH SROLFLHV ZKLFK WKHVH KDYH SXUVXHG RU OLNHO\ WR SXUVXH LI FRPHV LQWR WKH SRZHU 7KLV OLVW PD\ EH H[SDQGHG IXUWKHU DV ZHOO LW FDQ PD\ LQFOXGH LQIRUPDWLRQ DERXW WKH VWDWXV RI VRFLHW\ W\SHV RI VRFLDO

LQ PRVW FDVHV LQVXIILFLHQW LGHD DERXW

EDVLF XQGHUVWDQGLQJ

UHODWH LWVHOI WR IDFWV DERXW WKH RWKHU VSKHUH RI NQRZOHGJH DQG GLVFLSOLQH DV LW SUREOHPV VWDWXV RI WKH HFRQRP\ DQG LQ VDPH ZD\ WKH SUREOHPV SUHYDLOLQJ LQ WKH VSKHUH RI HFRQRP\ UHODWHG WR SROLWLFDO IDFWV LQ VRPH RU RWKHU ZD\ ZKLFK PHDQV WKDW LQGLYLGXDO RU VRFLHW\ LV LQ D SRVLWLRQ WR SURFHVV LW LQ WKH GLUHFWLRQ RI SROLWLFDO XQGHUVWDQGLQJ DQG WKH GHFLVLRQV EXW DOO RI WKHVH H[WUDSROLWLFDO IDFWV QHHG WR EH

$V IDU DV WKH VHFRQG PDMRU FRPSRQHQW RI WKH SROLWLFDO DZDUHQHVV LV FRQFHUQHG D FRQFHSWXDO XQGHUVWDQGLQJ LV PRUH FUXFLDO WKDQ WKH ILUVW RQH UHDVRQ LV VLPSOH EHFDXVH LW GHFLGHV WKH PDQQHU DQG GLUHFWLRQ  6LPSO\ VWDWHG LW KHOSV WR SURFHVV WKH IDFWV LQ D SDUWLFXODU LOOXVWUDWLRQ LI

LQGLYLGXDOV RI D SDUWLFXODU FRXQWU\ KDYH PRUH LGHD

OHYHO RI WKH 3ROLWLFDO DZDUHQHVVV DV IRU

LV WKDW EHGURFN ZKLFK ILQDOO\ DERXW WKH FRQFHSWXDO

IUDPHZRUN DQG LI IDFWV RI WKDW FRXQWU\ GR QRW IROORZ LQ WKH VDPH OHDJXH DV UHTXLUHG E\ WKH FRQFHSWV WKHQ 3ROLWLFDO DZDUHQHVV ZLOO JR GRZQ LQ FRQWUDVW LI WKH FRQFHSWXDO OHYHO LV ORZ HQRXJK DQG WKH IDFWXDO OHYHO LQ ZKDWVRHYHU VWDWXV LQ DOO OLNHOLKRRG WKH SROLWLFDO DZDUHQHVV ZLOO EH ORZHUHG DJDLQ  ZKROH LV TXLWH KLJKHU DQG IDFWXDO NQRZOHGJH LV DOVR KLJKHU

,I ZH WDNH DQRWKHU FRQGLWLRQ ZKHQ FRQFHSWXDO OHYHO RI WKH SHRSOH DV D LOOXVWUDWLRQ LI SHRSOH DUH DZDUH RI WKH IDFW WKDW GHPRFUDWLF IRUP RI JRYHUQDQFH LV D JOREDO EHQFKPDUN EXW DV IRU

DXWKRULWDULDQ OHYHO WKHQ LW LV YHU\ PXFK OLNHO\ WKDW SHRSOH PD\ UHSODFH WKDW 8665 ZKHUH DGYHQW RI QHZ XQGHUVWDQGLQJ DERXW WKH FRQFHSWXDO

WKH FRXQWU\ VXUYLYHV DW WKH

IRUP RI JRYHUQDQFH DV WKH RSSRUWXQLW\ DULVHV DV KDSSHQHG LQ FRPPXQLVW IUDPHZRUN KHOSHG WR LQFUHDVH WKH OHYHO RI SROLWLFDO DZDUHQHVV RI WKH SHRSOH DQG LQ TXLFN VXFFHVVLRQ WKH FRPPXQLVW UHJLPHV ZHQW ORZ +DYLQJ DQDO\VHG PRUH FUXFLDO UROH RI WKH FRQFHSWXDO IUDPHZRUN LW QHHGV WR EH PHQWLRQHG WKH PDMRU FRQFHSWV ZKLFK DUH LPSRUWDQW UROH SOD\HU LQ WKLV VSKHUH  ,Q WKLV UHVSHFW WKH FRQFHSWV DERXW WKH OLEHUW\ HTXDOLW\ GHPRFUDF\ MXVWLFH SHRSOH V SDUWLFLSDWLRQ VRFLDO VHFXULW\

PDMRU FRQFHSWV ZKLFK FDQ EH VWDWHG DW VWDUW DV WKH PDMRU RQHV

UXOH RI ODZ DUH IHZ RI WKH

&RQFHSWV DV OLEHUW\ DQG IUHHGRP KDYH SOD\HG D YHU\ LPSRUWDQW UROH LQ GHFLGLQJ WKH OHYHO RI WKH 3ROLWLFDO DZDUHQHVV VXSSRUWHG E\ D JRRG OLWHUDF\ OHYHO FDQ EH VLQJOHG RXW DV WKH PRVW LPSRUWDQW GULYLQJ IRUFH QRW RQO\ RI WKH SURJUHVV RI WKH FLYLOL]DWLRQ EXW DOVR IRU GHWHUPLQLQJ WKH OHYHO RI WKH 3ROLWLFDO DZDUHQHVV LQ D SDUWLFXODU FRXQWU\ LQ IDFW IUHH WKLQNLQJ PLQG

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

VXFFHVVIXO GHPRFUDWLF FRXQWULHV KDYH EHHQ VXFFHVVIXO LQ WKH SROLWLFV TXLWH KHLJKWHQHG LQ FRQWUDVW WKH

WKHLU SRSXODWLRQ OHDGLQJ WR SHRSOHV

FRXQWULHV ZKHUH WKHRORJ\ SUHYDLOV RU RSSUHVVLYH SROLWLFDO LGHRORJ\ LV LQ SHRSOH DUH QRW PXFK HOHYDWHG WKDW WKH\ FRXOG FRUUHFW WKH SROLWLFDO V\VWHP WRZDUGV EHWWHUPHQW

SUHYDOHQFH VXFK VRFLHWLHV IDFH PDQ\ SUREOHPV LQ WKH JRYHUQDQFH DV WKH

3ROLWLFDO DZDUHQHVV DW WKLV SRLQW DFWV DV FRUUHFWLYH IRUFH LW KHOSV WR PRGLI\

WKH URWWHQ RU QRQ GHOLYHULQJ SROLWLFDO V\VWHP LI WKH OHYHO RI WKH SROLWLFDO

DZDUHQHVV LV KLJK HPSLULFDOO\ LW FDQ EH SURYHG WKDW FRXQWULHV ZLWK KLJKHU

OHYHO RI SROLWLFDO DZDUHQHVV NHHS RQ FRUUHFWLQJ WKHLU PLVWDNHV DQG DGRSW WKH

QHZ WUHQGV DQG JRYHUQLQJ SULQFLSOHV ZKHQHYHU WKH\ DUH SUHVVXUL]HG E\ WKH PDVVHV 'HFLGLQJ IDFWRUV IRU 3ROLWLFDO DZDUHQHVV 3ROLWLFDO DZDUHQHVV GLIIHUV FRXQWU\ WR FRXQWU\ VRFLHW\ WR VRFLHW\ LQGLYLGXDO WR LQGLYLGXDO HYHQ ZLWKLQ WKH VDPH VRFLHW\ DQG FRXQWU\ 7KLV WKHRUHWLFDO SHUVSHFWLYH LV FRQGLWLRQHG E\ PDQ\ RI WKH IDFWRUV VRPH RI ZKLFK PD\ PLQG

DSSHDU YLVLEOH ZKHUHDV VRPH RI WKHVH PD\ QRW DSSHDU HYHQ WR YLJLODQW 7KLV SURFHVV FRQWLQXHV FRQVLVWHQWO\ DV LW VWDUWV VLQFH LQGLYLGXDO LV ERUQ LW LV

WUDQVPLWWHG JHQHUDWLRQ WR JHQHUDWLRQ E\ WKH 3ROLWLFDO VRFLDOL]DWLRQ KHQFH LW LQ D VLOHQW IRUP LQ PRVW RI WKH FDVHV

KDV KLVWRULFDO EDFNJURXQG KHQFH LW KDV IXWXUH UHIHUHQFH DV ZHOO WKRXJK 7KH PRVW LPSRUWDQW IDFWRU ZKLFK PD\ GHFLGH LWV OHYHO LV OHYHO RI WKH OLWHUDF\

LQ D FRXQWU\ LI LW LV OLEHUDO DGYDQFHG WUXWK RULHQWHG DQDO\WLFDO OHDVW VWDWH VSRQVRUHG DQG FRYHULQJ D ZLGHU VHFWLRQ RI WKH VRFLHW\ QDWXUDOO\ WKH OHYHO LV OHYHO RUWKRGR[ LGHRORJ\ EDVHG DZDUHQHVV JRHV GRZQ LQFUHDVHG LQ FRQWUDVW LI LW LV PRUH ULJLG PRUH VWDWLF VWDWH GHFLGHG WDXJKW OHDVW DQDO\WLFDO WKHQ OHYHO RI 3ROLWLFDO

3ROLWLFDO DZDUHQHVV LV DOVR GHFLGHG E\ WKH WUDGLWLRQDO NQRZOHGJH ZKLFK FDQ EH WHUPHG DV 3ROLWLFDO VRFLDOLVDWLRQ LQ WHFKQLFDO IRUP LQIRUPDWLRQ ZKLFK LV WUDQVIRUPHG JHQHUDWLRQ WR QH[W JHQHUDWLRQ E\ WKH IDPLO\ VFKRROV FROOHJHV PHGLD DQG JHQHUDO GLVFRXUVH DW WKH VRFLDO OHYHO 3ROLWLFDO DZDUHQHVV LV DOVR GHWHUPLQHG E\ WKH OHYHO RI WKH WHFKQRORJLFDO LW LV WKDW SROLWLFDO

VWDWXV RI WKH VRFLHW\ DW ODUJH LI PRGHUQ LQIRUPDWLRQ WRROV DUH DYDLODEOH DQG

ZLGHO\ SUDFWLFHG LQ WKH VRFLHW\

DZDUHQHVV LV VSRQWDQHRXVO\ LQFUHDVHG

LW LV TXLWH OLNHO\ WKDW OHYHO RI WKH SROLWLFDO

3ROLWLFDO DZDUHQHVV KDV GHPRJUDSKLF UHODWLRQVKLS DV ZHOO LQ D VRFLHW\ LI RSHUDWLYH LQ JRRG PHDVXUH DZDUHQHVV PD\ EH LW LV OLNHO\ WKDW 3ROLWLFDO DZDUHQHVV LV

QXPEHU RI WKH \RXQJ SHRSOH LV TXLWH VXIILFLHQW DQG RWKHU IDFWRUV EHLQJ LQFUHDVHG KHUH RQH IDFW QHHGV WR EH PHQWLRQHG WKDW OHYHO RI SROLWLFDO

HGXFDWLRQDO EDFNJURXQG UDWKHU WKDQ WKRVH ZKR SRVVHVV WKH NQRZOHGJH DQG H[SHUWLVH KDUGHQV WKH FRQFHSWXDO IUDPHZRUN ORZ LQ PRVW RI WKH FDVHV WKH UHDVRQ

REVHUYHG KLJKHU LQ WKH \RXQJ RQHV ZLWK OLEHUDO PD\ EH WKDW OLEHUDO HGXFDWLRQ

WHFKQLFDO

GHYHORSLQJ VRFLHWLHV ZKHUH VWLOO WKH OHYHO RI WKH SROLWLFDO DZDUHQHVV UHPDLQV

WKRXJK WKLV PD\ SURYH FRUUHFW LQ

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

ZKHUHDV LQ GHYHORSHG VRFLHWLHV ZKHUH

VRFLDOL]DWLRQ LV D NLQG RI OHDUQLQJ SURFHVV DERXW WKH SROLWLFV E\ GLIIHUHQW PDQQHU DERXW WKH SROLWLFV LQ WKH SUHYDLOLQJ VXUURXQGLQJ 

PHGLXPV 3ROLWLFDO DZDUHQHVV LV D VWDWXV RI NQRZOHGJH LQ LQWHUSUHWDWLYH

3ROLWLFDO DZDUHQHVV LQYROYHV DQDO\VLV DQG LQWHUSUHWDWLRQ LQ PRUH LQWHQVH PDQQHU NQRZOHGJH UHODWHG WR SROLWLFV LQ WKLV FDVH WKH LQWHUSUHWDWLRQ LV QRW PXFK JLYHQ HPSKDVLV ,QGLYLGXDOV OHDUQ DERXW WKH SROLWLFV LQ SDVVLYH PDQQHU ZKHUHDV LQ 3ROLWLFDO DZDUHQHVV LQGLYLGXDOV DIWHU KDYLQJ GHYHORSHG FRPSUHKHQVLYH XQGHUVWDQGLQJ DW WKH SROLWLFV GHFLGH WKH FRXUVH RI DFWLRQV LQ TXLWH DFWLYH IRUP D ZKHUHDV 3ROLWLFDO VRFLDOL]DWLRQ LV UHODWHG RQO\ WR WUDQVIHU RI

WKH IDFWXDO DQG FRQFHSWXDO OHYHO DERXW

3ROLWLFDO DZDUHQHVV

XQGHUVWDQGLQJ KHQFH LW LV PRUH JOREDO VWDWHG DERXW WKH 3ROLWLFDO VRFLDOL]DWLRQ

LV PRUH LQFOLQHG

WRZDUGV

ERXQGDULHV DQG OLQNLQJ WR WKH ZLGHU SKLORVRSKLFDO VSDFH WKLV PD\ QRW EH KHQFH OLPLWHG LQ VFRSH LQ FRPSDULVRQ WR WKH 3ROLWLFDO DZDUHQHVV &RPSDUDWLYH VWXG\ RI 3ROLWLFDO DZDUHQHVV LQ D GHYHORSHG DQG OHDVW GHYHORSHG VRFLHW\ 3ROLWLFDO DZDUHQHVV KDV PXOWLSOH DSSOLFDWLRQV PXFK LQIOXHQFHG E\ LW ,W FDQ EH VWDWHG WKDW ZKLFK LV PRUH FRXQWU\ VSHFLILF

WUDQVFHQGLQJ WKH QDWLRQDO

WKH

FRQFHSWXDO

GHYHORSLQJ

LPSRUWDQW RQH LV UHODWHG WR HOHFWLRQ SURFHVV ZKHQ YRWLQJ EHKDYLRU LV YHU\ GHYHORSLQJ DQG GHYHORSHG VRFLHW\ LV PDUNHGO\ GLIIHUHQW 3ROLWLFDO DZDUHQHVV

EXW SHUKDSV WKH PRVW RI

DVVXPSWLRQ FRXSOHG ZLWK LW LV WKDW OHYHO RI 3ROLWLFDO DZDUHQHVV LV KLJKHU LQ WKH GHYHORSHG FRXQWULHV ZKLFK KDV GHILQLWHO\ KHOSHG LQ WKH VXFFHVVIXO RSHUDWLRQ RI GHPRFUDF\ LQ WKHVH FRXQWULHV

D JHQHUDO

OHYHO RI VRFLDO DQG HFRQRPLF GHYHORSPHQW KDV EHHQ DFKLHYHG OHDGLQJ WR D

,Q WKLV GLVFXVVLRQ GHYHORSHG FRXQWULHV PD\ EH UHIHUUHG ZKHUH D FHUWDLQ

PLQLPXP KLJKHU OHYHO RI VWDQGDUG RI OLYLQJ WKHVH FRXQWULHV PD\ EH VLPSO\ LGHQWLILHG ZKLFK ,QGH[ 'HYHORSLQJ RFFXSLHV KLJKHU UDQNLQJ LQ WKH

+XPDQ 'HYHORSPHQW

GHYHORSPHQWDO SURFHVV

FRXQWULHV RQ WKH RWKHU KDQG KDYH LQLWLDWHG VRFLRHFRQRPLF

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

\HW DUH IDU DZD\ IURP PLQLPXP OHYHO RI JRRG

UDLVHG DQG GHFLGH WKH HOHFWLRQ RI WKH UXOLQJ FODVV QDWXUDOO\ SHRSOH DUH

,WV UHPDUNDEOH H[DPSOH PD\ EH VWXGLHG LQ WKH UHFHQWO\ KHOG HOHFWLRQV LQ 8 6 FKRRVLQJ WKH JRYHUQLQJ FODVV

$ DQG ,QGLD ZKHUH 3ROLWLFDO DZDUHQHVV SOD\HG DQ LPSRUWDQW UROH LQ ,Q $PHULFDQ SUHVLGHQWLDO HOHFWLRQ  WKH PDMRU LVVXHV UDLVHG GXULQJ WKH ZKROH HOHFWLRQV FDPSDLJQ LQFOXGHG QDWLRQDO VHFXULW\ IRUHLJQ SROLF\ ,UDT $IJKDQLVWDQ KHDOWK DQG UHODWHG VRFLDO LVVXHV SHRSOH  WKH HQULFKHG GHEDWHV RQ

PDMRU IRUHLJQ SROLF\ LVVXHV KLJKOLJKW WKH OHYHO RI SROLWLFDO DZDUHQHVV RI WKH ,Q ,QGLD  JHQHUDO HOHFWLRQ ZDV QRW IRXJKW RQ VXFK LVVXHV DV PRVW RI WKH SRSXODWLRQ LV QRW LQWHUHVWHG LQ WKH LVVXHV UHODWHG WR IRUHLJQ SROLF\

KHDOWK DQG RWKHU VRFLDO VHFXULW\ UHODWHG LVVXHV LQ ,QGLD XVXDOO\ PDLQ GHWHUPLQLQJ IDFWRUV LQ HOHFWLRQV KDYH UHPDLQHG FDVWH UHOLJLRQ UHJLRQDOLVP LVVXHV DV UHODWHG WR GHYHORSPHQW ZHUH DOVR UDLVHG H[KLELWLQJ D VRUW RI WUDQVIRUPDWLRQ LQ WKH YRWLQJ EHKDYLRU UHODWHG WR GHYHORSPHQW RXWVPDUWHG 1'$ PXFK DQG %-3 'XULQJ WKH HOHFWLRQ FRQJUHVV OHG DOOLDQFH 83$ FKDPSLRQLQJ WKH FDXVH RI +LQGXWYD OHG 1'$ HWF ,Q  JHQHUDO HOHFWLRQV WKHVH LVVXHV SOD\HG WKHLU UROH EXW RWKHU

WRZDUGV 83$ DV LVVXHV RI GHYHORSPHQW DQG SURJUHVV DWWUDFWHG WKHP

WKH EDVLF DQDO\VLV VXJJHVW WKDW \RXQJ YRWHUV ZHQW

LGHRORJ\

ZDV JUDGXDOO\ VHHQ DV HYHQWXDOO\

UHSUHVHQWHG WR LVVXHV

83$

,Q WKLV FDVH WKHUH DUH JURZLQJ WUHQGV RI LQFUHDVHG 3ROLWLFDO DZDUHQHVV DV WKH SROLWLFDO DZDUHQHVV LV LQFUHDVHG WKH YRWLQJ EHKDYLRU LVVXHV GXULQJ WKH HOHFWLRQ SURFHVV DUH PRGLILHG DFFRUGLQJO\ 7KLV FDVH VWXG\ FDQ EH IXUWKHU VXEVWDQWLDWHG

SURFHVV LQ DQ XQGHYHORSHG FRXQWU\ ZH WDNH IRU DQDO\VLV WKH FDVH RI WKH FRPPRQZHDOWK H[SHUW WHDP DZDUHQHVV LV TXLWH ORZ GHPRFUDF\

E\ VWXG\LQJ SROLWLFDO

6ZD]LODQG ZKHUH  HOHFWLRQ SURFHVV KDV EHHQ VWXGLHG DQDO\WLFDOO\ E\ 7KH ILQGLQJV RI WKH UHSRUW VXJJHVW WKDW LQ 6ZD]LODQG OHYHO RI DV JHQGHU HTXDOLW\ FRQFHSWV 3ROLWLFDO

EHHQ WKUHDWHQHG GXULQJ WKH HOHFWLRQ SURFHVV HOHFWLRQ FDPSDLJQLQJ RI WKH GHYHORSHG GHPRFUDWLF VRFLHW\ LV QRW REVHUYHG GXULQJ WKH HOHFWLRQ SURFHVV

KDYH UHPDLQHG DOPRVW XQNQRZQ LQ WKH FRXQWU\ ZRPHQ KDYH

RI PXOWLSDUW\

RI  DV D FRQVHTXHQFH WKH GHPRFUDWLF SURFHVVLQJ DQG LWV OHYHO KDV UHPDLQHG ORZ LQ WKH 6ZD]LODQG 7KHVH IDFWV VXJJHVW WKDW 3ROLWLFDO DZDUHQHVV GLIIHUV FRXQWU\ WR FRXQWU\ DV GHYHORSHG VRFLHW\ GHYHORSHG FRXQWULHV DUH GHYHORSHG QRW RQO\ LQ WKH

WKH PDMRU GHWHUPLQDQWV RI LW YDU\ IURP GHYHORSHG WR GHYHORSLQJ WR OHDVW VSKHUH RI VRFLDO DQG HFRQRPLF LQIUDVWUXFWXUH EXW DOVR LQ WKH VSKHUH RI GHYHORSHG VRFLHWLHV

SROLWLFDO DZDUHQHVV WKLV LV QRW WKH FDVH ZLWK WKH GHYHORSLQJ DQG OHDVW $ERYH VWDWHG VWDWHPHQW LV D JHQHUDO DVVXPSWLRQ DQG LWV H[FHSWLRQ YDULDWLRQV PD\ H[LVW LQ GLIIHUHQW SROLWLFDO V\VWHPV $SSOLFDWLRQ RI FRQFHSWXDO IUDPHZRUN RI 3ROLWLFDO DZDUHQHVV 3ROLWLFDO DZDUHQHVV FRQFHSW KDV EHHQ SURSRVHG DW LQLWLDO OHYHO LW PD\ EH LQ WKH FUXGH IRUP DW WKLV PRPHQW ,Q GXH FRXUVH RI WLPH VXIILFLHQW HPSLULFDO WUHPHQGRXV EHKDYLRU

DQG WKHRUHWLFDO UHVHDUFK ZRUN PD\ UHILQH LW ,WV DSSOLFDWLRQ YDOXH LV TXLWH GHPRFUDWLF SURFHVVLQJ IRUP RI JRYHUQDQFH DQG LWV IXWXUH

LW FDQ QRW RQO\ EH XVHG DV WRRO WR XQGHUVWDQG WKH YRWLQJ

WUDQVLWLRQ LQ D GLIIHUHQW IRUP RI JRYHUQDQFH

3ROLWLFDO DZDUHQHVV PD\ KHOS WR PRGLI\ D YLROHQW VRFLHW\ DQG FRXQWU\ LQWR D DFFHSWDEOH FRQFHSWV DW WKH

VLQFHUH DQG SHDFHIXO RQH 7KH RQO\ QHHG LV WR LQFXOFDWH WKH PRGHUQ PHGLXPV VR WKDW OHYHO RI 3ROLWLFDO DZDUHQHVV LV LQFUHDVHG OHYHO RI VRFLHW\ DQG LQGLYLGXDO E\ GLIIHUHQW

You might also like