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"ABSTRACTOver the last decade, increasing attention has been paid to the effect of monetary policy on the path of economic activities, and it is now generally recognized as a powerful tool in stabilizing the economy. Traditionally, the theory of monetary policy is formulated in terms of the adjustments of the policy instruments in order to achieve the desired values for the ultimate objectives such as the rate of output growth, the inflation rate and the balance of payment objectives. In contrast, to this "one stage procedure" of monetary policy, in the 1960s the new theory of monetary policy which is called "the two stage procedure of monetary policy" introduced the concept of intermediate targets which lie in-between the instruments directly controlled by the monetary authorities and the ultimate objectives of the policy. The efficiency of the monetary policy in a two-stage procedure depends upon the close relationships between the policy instruments and the intermediate target, and also between the intermediate targets and the ultimate policy objectives. In recent years, central bankers from some countries, in conducting monetary policy, have paid increasing attention to controlling monetary aggregates as a mean of achieving the desired values of its ultimate objectives. A resurgence of emphasis on money and its influence on the level of economic activity occurred in the decade of the sixties, which has also been supported by a great deal of empirical and theoretical researches. Foremost are the very extensive research findings by Milton Friedman and Anna Schwartz in their monumental work "A Monetary History of the United States 1867 - 1960" which concluded among others, "The changes in the behavior of the money stock have closely associated with changes in economic activity". On the same line of argument, Leonall C. Andersen and Yerry L. Yordan, in their research finding, came to the conclusion that the influences of changes in money stock have a strong, rapid and predictable effect on the rate of change of economic activity. Extending the Andersen-Yordan work over a longer period, Michel W. Keran found that monetary influence has dominated economic activity even in the period when financial and institutional factors were substantially different. These empirical results were derived from the economies of developed countries, especially United States."

"Variable speed drives and the associated electrical motors play a central role in industry as well as the buildings in which we live, work and are entertained. They are arguably the most potent tool we have in the quest to save energy and thereby reduce our carbon footprint. Their rate of development has been rapid and today?s product is in many ways unrecognisable for its ancestors of even twenty years ago. Development continues apace in the components used in the products, the products themselves and the ways in which the products are used."

"Variable speed drives and the associated electrical motors play a central role in industry as well as the buildings in which we live, work and are entertained. They are arguably the most potent tool we have in the quest to save energy and thereby reduce our carbon footprint. Their rate of development has been rapid and today?s product is in many ways unrecognisable for its ancestors of even twenty years ago. Development continues apace in the components used in the products, the products themselves and the ways in which the products are used.This book contains a great deal of practical information for drives and industrial engineers who use motors and drives. It is a comprehensive guide to the technology underlying drives and motors. It contains sufficient theory to give both user and student an insight into the design of these components and thereby the constraints and opportunities that exist. It has been radically revised and expanded from the previous edition to contain much new information."

"Over the last decade, developing countries have experienced a significant increase in capital flows. These capital flows became highly insurgent in the early 1990s. The development of these capital flows can significantly influence the domestic monetary base, and lead to domestic financial instability in these countries. Thus, this analysis focuses on assessing the ability of the monetary authorities to neutralize monetary disturbances of the capital flows in developing countries. It also attempts to analyze the impact of capital flows on the conduct of monetary policy in these countries. The study, however, is only applied to two ASEAN developing countries; Indonesia and Malaysia. The study is undertaken by running regression on three estimating equations developed in one chapter of the thesis. Regressions are run by using Ordinary Least sequares (OLS) method. The study shows that both monetary authorities in Indonesia and Malaysia have no loss of monetary control in faced of capital flows. The study also shows that the authorities in Indonesia and Malaysia direct their monetary policy to intervene in the exchange market; aims to preserve exchange rate stability as well as to maintain competitiveness of their exports. A policy implication also emerges from this study. That is, if the monetary authorities desired to have a higher degree of monetary authonomy, they must be ready to pursue a more flexible exchange rate policy."