A) PSYCHO- ECONOMICS.In fact individual (with psychological impetus), cumulatively form a society. The society functions and formulates certain needs, disciplines and way of life (motivating sociology). Many societies with diverse  social motivations are enclosed by a nation with certain and regulations (welfare, law and order = Internal economics ). All the nations in the north, east, west and south (NEWS) on this earth is this World (international form attempting to be in peace or in war (International economicsHypothesis#1 – Psychology of the individuals are cumulating towards the Economic stability components of the world, upwards. Psychology is “micro” and Economics is a “macro”======================================B) PHYSO-ECOMONIC IMPACTS. If the psychology of individuals in a nation are disturbed, then the impact at the national and international level is unpredictable. A   productive disturbance could leads to welfare and economic development. A destructive disturbance could result in destruction, Chaos and  economic destruction. But the chances for these 2 disturbances exist in 50 : 50 probability.——————————————————————————1. POSITIVE PSYCHO IMPACTSa).If the individuals in a rural area, psychologically start feeling that a large family (with many children) is not suitable for their family income, they will sacrifice their natural motivations and reduce the number of children per house hold. Cumulatively, his will bring good for the national economy (less demand for the  essential and other needs, due to controlled population).b) If the farmers in a village, psychologically start feeling that joint farming is profitable than cultivating pieces of lands, they will pool their lands, forgetting the family and group differences. There will be more production and quality of agricultural produce at lower costs. Ultimately the national economy develops with this type of motivation.c) If the urban people (in cities)  psychologically start feeling (both at home and office) that we should switch off  the lights and  fans, when there is nobody in the room,  then they will get an automatic urge  to follow this habit. Ultimately it will lead to the conservation of  power at the national level, seeding an essential component in economic development.   d) These could be extended to an unending list of positive psychology in multi areas leading to the Socio-Economic development of every nation.e) EXAMPLES. ** Mahathma Gandhi (1869 – 1948), won the Indian freedom, by pooling the positive psychological feeling to have “Swaraj” (From 1915 to 1947) among the Indians that “We Indians should not be ruled by a foreigner – British”.. He was attempting a similar psychological feeling against “apartheid” for (Africans + Indians), in South Africa, from 1893 to 1914, where he was a practicing lawyer !! But failed because all the local + expatriates do not want to antagonize the Britishers. (See at http://www.drvsrs.com/sedjr.htm).** Indira Gandhi (1917 to 1984. Former PM of India.) implemented a 20 point economic program during the period 1974 to 1976, to satisfy   the basic needs of the people (food, shelter and clothing) and tools to take faster economic decisions. This provided a psychological satisfaction to the public and helped the nation to be more disciplined and economically developed during that period (See at http://www.drvsrs.com/igandhi.htm) Hypothesis#2 – Psychological support of the people is a crucial factor to attain any economic, political and social targets. ————————————————————————————2. NEGATIVE PSYCHO IMPACTS.a) If all the people in a location psychologically start feeling that the banks are unsafe to keep their money, there will be a rush to with draw mass money. All the bank’s  fiscal position will shatter. This will crate a direct impact in weakening the national economy.b) If all the people in a location psychologically start feeling that there are indication of famine in the year, they will start hoarding all the  food grains and other needs, expected to be affected by the famine. This will offset the whole economic plans of the nation. In addition, it will offset the demand and supply position of  agricultural and affiliated fields leading to an economic chaos !!! c)  The list of economic failure due to deserting villages, discontinuing agriculture, closure of business houses and many more economic failure can happen, if the psychological attitude of the domestic people starts degrading.d) EXAMPLES. ** In early July 2008, IndyMac Bank, a California-based institution, failed. News images showing customers lined up outside the bank’s branches to make withdrawals evoked scenes from the Great Depression, the last time in American history when bank failures played a significant role in the country’s economic landscape. Unfortunately, the worry IndyMac’s failure caused may have left many people unclear about what it means for a bank to fail – and whether or not they should be worried about their own financial institutions. As more and more people make large withdrawals, the bank loses even more cash and becomes less likely to survive the crisis. In extreme cases, even a false rumor that a bank is struggling could lead to a bank run and ultimately a bank failure. ** Psychological impact of  Foot ball loss deserted FORNEY on Saturday the December 11, 1966  at 3 p.m.. “Forney, Texas., USA, became a ghost town. The reason for it all, strangely enough, was a football game 200 miles away in Austin. That is where Forney’s beloved Jackrabbits played Sonora in the Class A state semifinals Saturday night – and that is where the mass exodus of Forney citizens converged.. But alas, Forney’s football faithfuls were souls of heart breaking disappointment before the day was through. Forney’s fine team lost to Sonora 39-28”. This had a high negative impact on the business, productive and economic sectors of Forney. It tilted the country planning of Texas in particular and U in general.** Mahathma Gandhi (1869 – 1948) removed the “Jewel in the crown” of the British empire by winning the freedom to India only by  directing the psychological will power against the British rulers. He propagated the concept of “Swadeshi” to use domestically made items (cottage industry) and boycott british goods. This shattered the british  supplies by drastically reducing the Indian demand for many  essential commodities.  Hypothesis#3 – Psychological eruption of the people can shatter  any stable economic, political and social infrastructure. .====================================================C) PSYCHO-ECONOMICS – AN UNIFIED FORCECumulative Psychology (P) of the individuals and the Economic status (E)  of a nation go together.

E is proportional to K X P. Where K is the constant of  proportionality. K varies from country to country, changes with time (T) and attitudes (A) of  persons for a selected location. Or for a nation K is proportional to (A, T). Or psychological status of the people in a nation is unified with the economic development status.

a) Developed nations (UK, USA) are surviving with the positive psychological support of their domestic population. But Americans have started loosing their psychological support to the Federal  government, after the activities of past president George Bush, during his tenure . b) Developing and Under developed nation are never reaching a developed status, because the psychological force in the  domestic population is weak It is due to inadequacy in the basic needs – Food, Clothing and Shelter. Also the  promotion of “Apartheid” among the people by caste, community, se x, income etc.. and promotion of illiteracy, by the elected parliamentarians to keep them in power). c) After the end of second world war in 1949, the Germany was divided into East Germany following the principles of communism and East Germany on American Republic socialism (In May 1949 divided by the Berlin wall). The people in both partitions were psychologically subjected to the politico-economic impact in their respective shelters. On 9th November 1969, the East germans  broke the Berlin wall and joined with their Eastern partners. (Survival for about 20 years). Similarly the communist forces in Europe built an empire called “Union of Soviet Socialist Republic (USSR)” in 1922. It was an equal and opposing force to USA in the West. But, it started dwindling and officially dissolved on 31st December 1991 (Survival for about 69 years). The amazing feature is the exclusive state oriented communists sacrificed their principles and adopting the diametrically opposite Capitalism with US assistance and collaborations. !!Both were due to the “state oriented rule of communism, without any care or incentive for the individuals and their psychological urges”.  Hypothesis#4 – Psychology and Economics are unified,   functioning and keeping the international balance as  “Psycho-Economic Force” ===============================================D) FURTHER THOUGHTS & REFERENCES.Economics embraces all faculty and any subject (See at  http://www.drvsrs.com/smart.htm)“SOMA BY DRVSRS” at  http:/drvsrs.com/store/page1.html#10(SOMA = Social Management)“SED BY DRVSRS” at  http:/drvsrs.com/store/page1.html#9(SED = Socio-economic Development=================================================

INTRODUCTION

             Marital harmony is the globally important social phenomenon, which plays vital role in our life. Successful marital relationship based on many factors but economic resources are considered to be most essential.   Various studies have been conducted on this issue   Behnke & Mcdermind, (2004) studied economic factor in relation to family well-being e.g Voyandoff (1990) studied economic distress and family relations.  Ross & Mirowsky (1992) and Yadollahi (2009) studied that employment of spouses  and the sense of control in various types of stressors of marital life. Diener and Diener (2001) investigated  that wealth is related to many positive outcomes in life.  Jorgensen & Butler (2010) reported various ethical issues among the couples with reference to their psychological conflicts other than economic.

              Many researchers have concluded the negative effects of economic hardship on marital quality and stability (e.g. Voydanoff, 1990; Oggins, 2003; Miller et al., 2003).   Gudmunson et al (2007) found, economic strain is directly linked to increase  couple disagreements.  Kerkmann, Thomas, Jean, & Scot’s study (as cited in Pimentel 2009) reported that financial problems significantly contributed to lower reported marital satisfaction among married couples. Economic strain is directly linked to increased couple disagreements and has direct impact on marital adjustment (Kinnunen and Feldt, 2004).All these findings are likely to reflect the fact that financial issues are a frequent trigger point for conflict  among the couples led to more frequent fights and decrease in marital harmony (Gudmunson et al., 2007). Study performed by Brody et al (1994) has proved that family income was associated with higher marital happiness and lower marital conflict. Similarly, the study by Amato & Rogers (1997) demonstrated that a low husband’s income and employment factor is a significantly associated with marital problems and low marital quality and it increases the likelihood of marital disruption (South and Spitz, 1986). Looking the research findings it is reasonable to hypothesized that financial satisfaction and marital satisfaction is directly correlated (Miller’s study as cited in Frisby, 2007). Recent study by Nunes, (2008) also proves that   marital satisfaction is mainly associated with economic factor.

             In a recent Mori survey, 35 percent of women and 26 percent of men agreed that the economic downturn had “reduced the quality of their marriage” (Government Equalities Office, 2009). Another study supported the relationship between finances and marital satisfaction by identifying that 15% of marital satisfaction was predicted by financial factors (Kerkmann, Thomas,Lown, &Allgood ,2000). Survey conducted by Frisby (2007) also shows that family income affect the degree of marital satisfaction.

            Researchers sought to define and identify causal relationships between economic stress and relationships between husband and wife and parent and child. James( 2009)proposed a “family stress model” in which economic pressures cause adults emotional distress, which disrupts both the marital relationship and parenting. Marshall and colleagues (1997); Zedlewski (2002); Behnke & Mcdermind (2004)  found that low family income and limited benefits not only have bad effect on mutual relations of couples but it also has negative influences on child and family well-being. Jacobs & Silverberb (2002) found Maternal disclosure of financial concerns is related to difficulties in adolescent daughters’ adjustment and such disclosure acts as a mediator in the relationship between family financial hardship and adolescent daughters’ adjustment in a sample of 62 adolescent girls and their recently divorced mothers.

              The association between economic stress, individual psychological state and relationship quality may not be the same for all couples. However, for couples that were observed to have better problem-solving skills in a task, high levels of marital conflict did not lead to such high levels of marital dissatisfaction (James, 2009). Blekesaune (2008) used the data from the British Household Panel Survey between 1991 and 2005 and found that low income increased the risk of partnership dissolution. Similar study In Finland conducted by Kinnunen and Feldt (2004) concluded husband’s unemployment is strongly associated with his marital adjustment. Financial stress is not, of course, confined to times of recession, but is a continual feature of life for some families. However, in a recession, this is spread more widely (James, 2009).

            Conger (1990) proposed that economic hardships and declines in marital satisfaction are mediated through economic pressure, which produces emotional distress and negative marital interaction patterns. Economic hardships engendered feelings of economic pressure. This pressure was related to the emotional distress husbands and wives felt which, consequently, gave rise to more negatively and conflict in the marital relationship.

  Grant &  Barling (1992) has reported that economic factors are responsible increases violence within family (Straus & Gelles, 1986; Obradovic & Odradovic, (2006). 

            Evidence has suggested that people with higher income felt happier, more satisfied and adjusted with their lives because higher income could be used to have a better lifestyle through greater leisure opportunities and improved nutritional intake, fewer uncertainties, better access to health services and improved living environment through better housing and the ability to move to places that are more prosperous (Ayub,,& Iqbal, 2009). Social stress research has repeatedly identified low income and income loss as a major social stressor (Elder, 1974). Much of the marital researches done before 1980 identified financial problems as one of the primary reasons for couple’s marital dissatisfaction and dissolution (Albrecht, 1979; Levinger, 1976). However, although finances remain a potentially problematic issue for couples, but later studies suggest that financial problems may be less influential than previously believed (Andersen, 2000; Kitson & Sussman, 1982; Thurnher, Fennnn, Melichar, & Chiriboga, 1983; Amato & Rogers, 1997) thus inflating the perceived importance of financial distress as predictor for marital dissolution (Kendal, 2003 cited in Dean, et al 2005). Money is one of the major causes of frustration in marriage and family relationships; there is a significant relationship between finance and happily married relationships. In a study conducted by the Consumer Credit Counseling Service of people who came to the organization for debt or budget counseling, 60 percent of the married respondents reported fighting about money with their spouses. (Washburn,Carolyn.,& Christensen2008).

            Marriages stressed by economic uncertainties have also been more likely to be disrupted (South and Spitz, 1986). Dean (2005) explored possible linkages between financial problems and divorce and marital conflict. Many studies has   concluded  that  couples facing more financial obstacles and spending less time together are more at risk for divorce (Poortman 2005; Cleek & Pearson, 1985).  Sayer concluded that  , the transition to divorce is associated with economic stressors for most women (as cited  in Craig & Behnke ,2008).

 Research Methodology

  Research design

          Main focus of this study was to find the effect of economic resources on marital adjustment.  It has been hypothesized that better economic resources lead to better marital life and resultantly improves the quality of marital adjustment. In this study, economic resources and marital adjustment were used as independent and dependent variables respectively. The effect of economic resources on marital adjustment was investigated by making the comparison between married women from nuclear family system and joint family system which is also an important source of conflicts among the spouses in Pakistan.  The research design for the present study was quantitative, where as cross sectional research design was employed to compare and investigate the data. This study was carried out in to three phases. In first phase, two types of married women were categorized, one, working women and the second non-working women (i.e. housewives). At the second stage, personal data was collected with the help of “bio-data form” i.e. monthly income, family system. At the third phase sample was selected and data was collected through survey from Abbottabad city from a sample of 200 married women selected on a simple random technique. The first simple of 100 working women was drawn, which was further divided into; living in nuclear family (n=60) and living in    joint family system (n=40). The second sample of 100 non -working women was drawn which was equally divided in   nuclear family system and joint family system.

             In the present study ‘sub scales ‘Economic’ and ‘General pattern of adjustment’ of Marital Adjustment Scale-Urdu (MAS-U) (Kazmi , 2002) was used for data collection. MAS-U is an attempt to establish a framework from which marital adjustment can be estimated in Pakistani culture by the researcher and practitioner. MAS-U was designed and intended to measure marital adjustment in Pakistani culture.  All other marital scales are in English language and their cultural adaptation is quite laborious phenomenon. The MAS-U is a standardized instrument in Urdu language and thus is able to evoke real response from the interviewees.   MAS-U is a reliable instrument the determine the degree of (1) Spouses interpersonal frustration and dissatisfaction which quit common in our culture,  even rational reasons elicits or not; (2) Spouse’s capability to express their feelings on various issues; (3) Spouses’ satisfaction within available economic resources and their style of non vocal communication ; (4) Spouse’s specific communication style about the routine marital life issues; (5) Women’s  satisfaction within existing family systems their approach towards family systems common in   Pakistan. The MAS-U consisted of 126 items that loaded on four factors. Participants marked their responses on a Likert scale ranging from 1 to 5 (Strongly agree, Agree, Undecided, Disagree, Strongly disagree). The internal consistency of MAS-U has been reported with a Cronbach alpha of 0.82. Along with some evidence of construct validity was also determined.  Whereas, for the ‘Economic’ Cranach alpha is 0.9 and for ‘General pattern of adjustment’ it is 0.82.

 

                To collect data for the present study 200 married women were selected in which 100 were working married women and 100 were non-working married women. The Marital Adjustment Scale was administered personally by the researcher in face to face fashion. Purpose of study was explained to each participant that the research was the part of thesis work and the information they given will be remained confidential and only uses for research purpose. The respondents were asked to response as strongly agree, agree, undecided, disagree and strongly disagree. In the present study, to explore the economic resources of working and non-working women, income was taken into consideration. Husband’s income was also used while measuring the economic status. For measuring the economic resources of workingwomen income of husband and wife both were used. While measuring the economic resources on non-working women only husband’s incomes were used.

 Analysis and interpretation of the results

              After the data collection, the next step was the interpretation of the data. First, the item was assigned the score of one to five for the positive statements and the reversed scoring was used for the items having negative tone. Then the statistical analysis was applied on data. T-test and one-way analysis of variance (ANOVA) were applied on data to assess the significance of the results. Total marital adjustment score of the MAS-U ranged from 195 to 300 with mean of 247 (SD=27.2) for workingwomen and 211 to 348 with mean of 272.9 (SD=30.24) for non-workingwomen. The score on economic resources ranged from 16 to 65 with mean of 33.38(SD=11.4) for workingwomen and 18 to 70 with mean of 49.9(SD=12.75) for non-workingwomen. Responses to questionnaire items were coded and enter in computer. The statistical analysis was carried-out by using SPSS . 

 

 

Special Economic Zones (SEZs) are specific geographical regions that have economic laws different from and more liberal than a country’s typical economic laws. The goal is usually an increase in foreign direct investment (FDI) in the country.

There is a clear understanding that a well-implemented and designed SEZ can bring about many desired benefits for a host-country: increases in employment, FDI attraction, general economic growth, foreign exchange earnings, international exposure, and the transfer of new technologies and skills. Hence, many developing countries are also developing the SEZs with the expectation that they will provide the engines of growth for their economies to achieve industrialization. But for this to be successful their governments need to enact legislation, create a focused administrative infrastructure to govern special economic zones, offer highly attractive incentives and locate zones in the best possible locations. Overall investment climate (infrastructure, governance) in a country matters in the success of its special economic zones in terms of competitiveness.

One of the earliest and the most famous Special Economic Zones were founded by the government of the People’s Republic of China under Deng Xiaoping in the early 1980s. The most successful Special Economic Zone in China, Shenzhen, has developed from a small village into a city with a population over 10 million within 20 years. Following the Chinese examples, Special Economic Zones have been established in several other countries.

In the face of fierce regional competition, South Korea is also showing strong economic performance and can boast a highly skilled labor force. It has started working strategically towards attracting investment, including the establishment of its first special economic zone, called The Incheon Special Economic Zone and so look set to transform the country into a regional hub from which foreign companies can expand into other parts of Asia.

The Incheon special economic zone in the north revolves around the international airport, the creation of an international financial services district and Songdo’s “intelligent city”, which will include a 60-storey world trade centre, 60 office buildings, deluxe hotels, shopping malls and a golf course, due to be completed by 2008.

These economic zones are a strategy to make Korea (http://korea.ixs.net/) more attractive in the eyes of foreign investors and to draw them to the country.

The project includes a technology complex to house research centers and venture start-ups alongside the Korean Institute of Technology. Two more complexes, for biotechnology and for knowledge and information will be built by 2008.

These projects, which have high-level political backing, are supported by a package of generous financial incentives. Other incentives include simplified administrative procedures, heavily subsidized land leases on government owned land, tax breaks and linguistic support.

Situated directly between Japan and China, South Korea is at the centre of a vast Asian market with a total population of two billion, including 500 million in the ASEAN (Association of Southeast Asian Nations) countries, with which, along with China and Japan, Korea enjoys a special commitment to economic cooperation. North-east Asia alone accounts for about 24% of the world’s population and 19% of global production.

South Korea’s gateway strategy is designed to leverage its geographic and geocultural advantages while offering a new, friendly business face to potential investors in the form of SEZs in the southern part of the peninsula. Foreigners, foreign companies, and international economic organizations can be involved in free corporate activities in these economic zones offering a range of special advantages, including tax, labor, regulatory and other incentives.

South Korea is a cheaper location than Japan and more straightforward from a regulatory point of view than China, having opened its markets decades ago.

Generally, it is argued that the special economic zone concept is attractive because it is much easier to resolve the problems of infrastructure and governance on a limited geographical area than it is to resolve them countrywide. Such economic zones cannot be insulated from the broader institutional and economic context of the country and be treated as an economy within the economy. Zones are a part of the economy and require overall improvement in the investment climate to ensure success in the long run. They should not, therefore, be viewed as an alternative to the overall development model. This is perhaps the reason why SEZs failed to fulfill the role of engines of industrialization in most countries on a sustainable basis.

For more Information About Special Economic Zone: http://eng.ifez.go.kr/guide/org/special-economic-zone.asp