Direct Effects of Financial Repression in India

Direct Effects of Financial Repression in India FINANCIAL REPRESSION (PAPER 7) Financial repression refers to the notion that a set of government regulations, laws, and other non-market restrictions prevent the financial intermediaries of an economy from functioning at their full capacity (McKinnon (1973) and Shaw (1973)PAPER 1). Generally, financial repression consists of three elements. First, the banking system is forced to hold government bonds and money through the imposition of high reserve and liquidity ratio requirements. This allows the government to finance budget deficits at a low or zero cost. Second, given that government revenue cannot be extracted that easily from private securities, the development of private bond and equity markets is discouraged. Finally, the banking system is characterized by interest rate ceilings to prevent competition with public sector fund raising from the private sector and to encourage low-cost investment (PAPER 1). The policies that cause financial repression include interest rate ceilings, liquidity ratio requirements, high bank reserve requirements, capital controls and restrictions on market entry into the financial sector, credit ceilings or restrictions on directions of credit allocation, and government ownership or domination of banks (PAPER 7). Economists have commonly argued that financial repression prevents the efficient allocation of capital and thereby impairs economic growth. While theoretically an economy with an efficient financial system can achieve growth and development through efficient capital allocation, McKinnon and Shaw argue that historically, many countries, including developed ones but especially developing ones, have restricted competition in the financial sector with government interventions and regulations. According to their argument, a repressed financial sector discourages both saving and investment because the rates of return are lower than what could be obtained in a competitive market. In such a system, financial intermediaries do not function at their full capacity and fail to channel saving into investment efficiently, thereby impeding the development of the overall economic system (PAPER 7). This paper aims to analyse the concept of financial repression and reasons why it is seen and detrimental to economic growthexplain sections below. Rationale for and types of financial repression The key reason for the government to implement financially repressive policies is to control fiscal resources. By having a direct control over the financial system, the government can funnel funds to itself without going through legislative procedures and more cheaply than it could when it resorts to market financing. More specifically, by restricting the behaviour of existing and potential participants of the financial markets, the government can create monopoly or captivate rents for the existing banks and also tax some of these rents so as to finance its overall budget. Existing banks may try to collude with each other and to interrupt possible liberalization policies as long as they are guaranteed their collective monopoly position in the domestic market. In some countries, governments require banks to meet high rates of the reserve ratios, and use the reserves as a method to generate revenues. Since reserves earn no interest, they function as an implicit tax on banks and restrict banks from allocating a certain portion of their portfolios to productive investments and loans. If high reserve requirements are combined with interest ceilings and protective government directives for certain borrowers, savers who are usually unaware of the requirement policy become the main taxpayers because they face reduced rates of interest on their savings. Inflation can aggravate the reserve tax because it reduces the real rates of interest. Thus, high reserves requirements make the best use of the governments monopolistic power to generate seigniorage revenue as well as to regulate reserve requirements. A variant of this policy includes required liquidity ratios; that is when banks are required to allocate a certain fraction of their deposits to holding government securities that usually yield a return lower than could be obtained in the market. Governments often impose a ceiling on the interest rate banks can offer to depositors. Interest ceilings function in the same way as price controls, and thereby provide banks with economic rents. Like high required reserve ratios, those rents benefit incumbent banks and provide tax sources for the government, paid for by savers and by borrowers or would-be-borrowers. The rents borne by the interest ceiling reduce the number of loans available in the market thereby discouraging both saving and investment. In return for allowing incumbent banks to reap rents, the government often require banks to make subsidized loans to certain borrowers for the purpose of implementing industrial policy (or simply achieving political goals). Interest ceilings in high inflation countries can victimize savers because high inflation can make the real interest rates of return negative. Financial repression also takes the form of government directives for banks to allocate credit at subsidized rates to specific firms and industries to implement industrial policy. Forcing banks to allocate credit to industries that are perceived to be strategically important for industrial policy ensures stable provision of capital rather than leaving it to decisions of disinterested banks or to efficient securities markets. It is also more cost effective than going through the public sectors budgetary process. Government directives and guidance sometimes include detailed orders and instructions on managerial issues of financial institutions to ensure that their behaviour and business is in line with industrial policy or other government policies. The Japanese Ministry of Finance (MOF) is a typical example of governments micromanagement of financial industry. Capital controls are restrictions on the inflows and outflows of capital and are also financially repressive policies. Despite their virtues, the use of capital controls can involve costs. Because of their uncompetitive nature, capital controls increases the cost of capital by creating financial autarky; limits both domestic and foreign investors ability to diversify portfolios; and helps inefficient financial institutions survive. Impacts of Financial Repression Because financial repression leads to inefficient allocation of capital, high costs of financial intermediation, and lower rates of return to savers, it is theoretically clear that financial repression inhibits growth (Roubini and Sala-i-Martin, 1992). The empirical findings on the effect of removing financial repression, i.e., financial liberalization on growth supports this view, but various channels through which liberalization spurs growth have been evidenced. The possible negative effect of financial repression on economic growth does not automatically mean that countries should adopt a laissez-faire stance on financial development and remove all regulations and controls that create financial repression. Many developing countries that liberalized their financial markets experienced crises partly because of the external shocks that financial liberalization introduces or amplifies. Financial liberalization can create short-term volatility despite its long-term gains (Kaminsky and Schmukler, 2002). Also, because of market imperfections and information asymmetries, removing all public financial regulations may not yield an optimal environment for financial development. An alternative to a financially repressive administration would be a new set of regulations to ensure market competition as well as prudential regulation and supervision. ECONOMIC THOUGHTS The literature on finance and development postulates a symbiotic relationship between the evolution of the financial system and the development of the real economy. This prediction is common to both the McKinnon-Shaw approach and the endogenous growth literature. However, while in the former financial development determines the level of steady-state output, in the latter it is a determinant of the equilibrium rate of economic growth. In the McKinnon-Shaw literature the basis for the relationship between financial and economic development is Gurley and Shaws (1955) debt-intermediation hypothesis. In this framework an increase in financial saving relative to the level of real economic activity increases the extent of financial intermediation and raises productive investment which, in turn, raises per-capita income. In these models nominal interest rate controls inhibit capital accumulation because they reduce the real rate of return on bank deposits, thereby discouraging financial saving. Moreover, higher reserve requirements also exert a negative influence on financial intermediation by increasing the wedge between lending and deposit rates. Under a competitive banking system this wedge is an increasing function of the rate of inflation. Thus higher real interest rates encourage capital accumulation and real economic activity, largely through an increase in the extent of financial intermediation. The competitive model of the banking industry are theoretically inadequate because First, in many less developed countries the banking industry is typically dominated by a small number of banks and collusive behaviour is not uncommon. Second, asymmetric information in loan markets is sufficient to generate a considerable degree of market power for lenders. Theoretical inadequacy relates to the implication of the assumptions of perfect competition, which leave little room for analyzing the behaviour of banks and their reactions to government interventions. Departure of the benchmark model from perfect competition has important implications for the way in which repressionist policies affect financial development. These effects may differ depending on the source of the departure from perfectly competitive behaviour. In the case where the departure is due to collusive behaviour, banking controls may induce banks to use non-interest-rate methods to influence the volume of bank deposits. Whenever the departure from perfect competition is due to imperfect information, the possibility of government corrective actions must be acknowledged. According to Stiglitz (1993), interest rate restrictions may be able to address moral hazard in the form of excessive risk taking by banks. Thus if one is prepared to assume that depositors perceive such restrictions as enhancing the stability of the banking system, their imposition may increase depositors willingness to hold their savings in the form of bank deposits. However, this crucially depends on how government policies are perceived by the public, which in turn relates to the existence or otherwise of good governance. Ill perceived and/or executed policies may have the opposite effect than that predicted by the market failure paradigm. Thus the success or failure of certain policies may largely depend on the effectiveness of the institutions that implement them (World Bank (1993). The endogenous growth literature offers additional channels through which financial sector policies may affect financial development, independently of the real rate of interest. In contrast to the Courakis-Stiglitz analysis, where repressionist policies may have positive effects, this literature typically predicts negative effects. The above analyses serve to suggest that the effects of certain types of interventionist policies as well as the channel through which they work may be different than has so far been recognized by much of the empirical literature. In particular, these policies may have direct effects on financial depth by: (1) changing the willingness of banks to raise deposits by non-interest-rate methods, and (2) changing the willingness of savers to supply their savings to the banking system. Thus these policies can have effects over and above-and sometimes conflicting with-those that are widely recognized in the literature. DATA ANALYSIS We focus on the economy of India for a variety of reasons. Besides the obvious reason that India is one of the most important developing economies in the world, it also has a rich history of varying types of repressionist policies which aids the statistical investigation. In the late 1950s the financial system of India was fairly liberal with no ceilings on interest rates and low reserve requirements. In the early 1960st he government tightened its control over the financial system by introducing lending rate controls, higher liquidity requirements, and by establishing state development banks for industry and agriculture. This process culminated in the nationalization of the 14 largest commercial banks in 1969. Further nationalizations took place in 1980. Interest rate controls were rigidly applied from the 1970s to the late 1980s to all types of loans and deposits. The term structure of interest rates was largely dictated by the Reserve Bank. Credit planning, a formal system of dire cted credit introduced in 1970, increasingly covered a very large percentage of total lending. Moreover, concessionary lending rates were offered to priority sectors. The late 1980s were, however, marked by the beginning of a process of gradual liberalization of the financial system. Ceilings on lending rates began to be lifted in 1988 and were completely abolished in 1989. Finally, further relaxations on directed credit and concessionary lending rates took place in 1990 and 1992. Interestingly, the index appears to reflect quite well many of the policy shifts that occurred during the sample period. According to this index, the early 1960s appear to be characterized with gradual increases in the level of financial repression. There was some stability in the mid-1960s followed by a big jump in 1969. This behaviour coincides with developments in the 1960s which culminated with the nationalization of the largest eleven banks in 1969, which allowed the Reserve Bank of India to intensify its directed credit program and to impose controls on deposit rates. The 1970s were characterized with the gradual imposition of more controls, i .e. a lending rate floor operated during 1973 and 1974, a lending rate ceiling was imposed in 1975 and remained in operation for 13 years, and reserve requirements (PAPER 3) were raised in 1976. The early 1980s saw even more controls imposed and an intensification of the directed credit program. Once again the gradual increase in the inde x follows these developments quite well. The index drops significantly in 1985, which coincides with a partial deregulation of deposit rate controls. It then rises again, reflecting the reintroduction of deposit rate controls in 1988 and a 4% increase of reserve requirements in 1989, but drops again in 1990 when the directed credit program is relaxed. Finally, there is a small drop of the index in 1991, which coincides with further deregulations of deposit rates. (PAPER 3) RECOMMENDATION (financial liberalisation) Since the break-up of the colonial empires, many developing countries suffered from stagnant economic growth, high and persistent inflation, and external imbalances under a financially repressed regime. To cope with these difficulties economic experts had advocated what they called â€Å"Financial liberalization mainly a high interest rate policy to accelerate capital accumulation, hence growth with lower rates of inflation (McKinnon (1973), Shaw (1973), Kapur (1976) and Matheison (1980)). Their argument that relaxation of the institutionally determined interest rate ceilings on bank deposit rates would lead to price stabilization and long-run growth through capital accumulation is based on the following chronology of events: (a) the higher deposit rates would cause the households to substitute away from unproductive assets (foreign currency, cash, land, commodity stocks, an so on) in favour of bank deposits; (b) this in turn would raise the availability of deposits into the banking system, and would enhance the supply of bank credit to finance firms capital requirements, and ; (c) this upsurge in investment would cause a strong supply side effect leading to higher output and lower inflation.(paper 1) CONCLUSION The main finding of this paper is that the direct effects of financial repression in India were negative and quite substantial. We would, however, advise caution in generalizing from these results to other countries. It is well known that the success of economic policies largely depends on the effectiveness of the institutions that implement them, and this clearly varies from country to country (e.g., World Bank (1993)). Thus we would not be surprised if future research showed- that the direct effects of financial repression in other countries (e.g., South Korea) were positive and significant.19 In fact, according to our theoretical analysis, the possibility of positive effects cannot be ruled out. Our conjecture is that repressionist policies may have positive effects whenever they are able to successfully address market failure. How-ever, market failure should encompass not only information-related imperfections but also those pertaining to the structure of the banking industry, as the latter may be equally important. Our results highlight a number of potentially fruitful avenues for further research. From a theoretical view point much work needs to be done to model financial repression in a framework where banks are more active than has so far been customarily assumed. Models where banks are able to influence the volume of their loanable funds may also be in the spirit of the modem banking literature, which emphasises the importance of active liability management. In such a framework it would be interesting to explore the role of market structure. A game-theoretic approach may also be taken, which could yield rich insights about the strategic aspects of financial repression. From an empirical point of view, the examination of the direct effects of financial repression in other countries is likely to be of considerable value. Furthermore, comparisons of these effects across different economies are likely to shed light on the relative effectiveness of repressi onist policies, thereby providing indirect evidence on relative levels of good governance. Finally, our results suggest that there is also considerable scope for empirical studies of bank behaviour under conditions of financial repression. (PAPER 3)

Everything you wanted to know about quoting

When writing an essay, you need to give evidence from the story, poem, novel, etc. that helps to support your argument. By quoting from the text, you show that evidence is definitely there. Keep quotes short†¦ they should support your thoughts, not replace them. TIP: If you only need to quote part of a sentence, use an ellipsis. ORIGINAL: â€Å"Mr. Cunningham, said Atticus, came from a set breed of men† (Lee 21). â€Å"Mr. Cunningham†¦ came from a set breed of men† (Lee 21).Only quote the part of the ext that relates to your point. Connect the quote to your words†¦ dont Just leave it hanging. Use phrases like, â€Å"Scout shows this when she says,† â€Å"as revealed by the line,† â€Å"as the author states,† etc. Place a colon after your thoughts to link them to your evidence (the quote). Boldwood loses control of himself. His love for Bathsheba strips him of reason. Boldwood gives in to his emotions totally, as shown when he says, â €Å"l had some faint belief in the mercy of God till I lost that woman†¦ ‘ feel it is better to die than to live† (Hardy 244). He nearly loses his mind.Harper Lee concludes To Kill a Mockingbird happily. The novel ends by showing Atticus reunited with his children: â€Å"He turned out the light and went into Jem's room. He would be there all night, and he would be there when Jem waked up in the morning† (Lee 281). Atticus's fatherly presence shows the reader that all is right with the world. DANGERS TO AVOID Never use a quote in a way that changes the meaning it had originally (â€Å"take it out of context†). Never let your quotes drown out your own voice. Never stick in a quote without connecting it to your words. Never forget to use quotation marks and cite the place where you found the quote.Never use quotes that are longer than they have to be. Never use a quote unless you are sure of what it means. Jem and Scout meet Mrs. Dubose. â€Å"Mrs. Dubo se lived alone except for a Negro girl in constant attendance, two doors up the street from us in a house with steep front steps and a dog-trot hall. She was very old†¦ † Mrs. Dubose is mean. â€Å"If she was on the porch when we passed, we would be raked by her wrathful gaze, subjected to ruthless interrogation regarding our behavior†¦ â€Å"

Essay on Platos Symposium - 692 Words

Though not as philosophical as many of Platos other works, The Symposium gives a greater in depth account and characterization into the social life of the intellectual circles in Ancient Greece. The eulogies from each of the philosophers at the discussion examine the origins and theories of love in its many forms. Several of the theories and themes discussed in The Symposium are repeated as well as contrasted by each of the orators. The themes of physical love and lust, and reproduction are most notably discussed and compared within each speech. The ideas of physical love, or the lusting for body rather than mind, are discussed within the speakers and related to their own physical loves as compared to their intellectual loves.†¦show more content†¦In Agathons eulogy, he praises the actual god that is Love, and speaks of the virtues of Love rather than the natures. Within these virtues is moderation, and he states that love has the biggest share of moderation. It is generally agreed that moderation is the mastery of pleasures and desires, and that no pleasure is stronger than Love...if Love masters pleasures and desires, he must be exceptionally moderate, (30.196c). This continues further on the ideas of the pleasure received purely from physical love are inferior and must be practiced in moderation. Socrates closes on the discussion of physical love and lust in his discussion. He concludes that physical love is not love at all because, desire and love are directed at what you dont have, what isnt there, and what you need, (35.200e). Since one can never be in the possession of love, then love can not be held in the single physical act of lust and pleasure. Each orator discusses the inferiority of the purely physical acts of love and as they continue, each discussion delves further into the inadequacy of love without intellect. 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An Appraisal Of Effects Of Music Therapy On Labour Pain...

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Analysis Of Margaret Meads Coming Of Age In Samoa

On August 31, 1925, Margaret Mead arrived in Pago Pago, American Samoa to conduct ethnographic research on a particular problem. Prior to her arrival in American Samoa, Mead with the guidance of her mentor Franz Boas, decided to investigate the lives of adolescent girls in Samoa as a focal point of her research. Mead chose this subject matter due to her speculation that the period adolescence within the United States during the 1920s was filled with stress and a period of turbulence; therefore, Mead hypothesized that stress felt by American youth resulted from the American cultural environment. Through her investigation adolescent girls, Mead aimed to test the validity of the claims of adolescent behavior being a physiological determinant.†¦show more content†¦Coming of Age in Samoa received support from scholars within the field; however, dissonant voices emerged as well. Most notably the dissident opinion of New Zealand anthropologist, Derek Freeman generated the most famo us controversial debate among the sciences: The Mead-Freeman debate. Thus, in this research paper I will focus on Margaret Mead’s prominent work Coming of Age in Samoa: A Psychological Study of Primitive Youth for Western Civilisation, while juxtaposing the work of Derek Freeman Margaret Mead and Samoa: The Making and Unmasking of an Anthropological Myth. By using these two primary works as well as other works that stemmed from the Mead-Freeman debate, I will analyze the running debate on the nature versus nurture concept and its application within Samoan society. MEAD’S SAMOA: THE FIELD WORK 1925-1926 In order to properly assess the nuances of the Mead-Freeman debate, one must go back in time to the Ta‘Å « of 1925-1926 the time of Mead’s ethnographic field research in order to thoroughly evaluate Mead’s interpretation of Samoa. The Samoan archipelago consists of nine inhabited islands in the South Pacific between 13 ° and 14 ° south latitude 168 ° and 173 ° longitude west (Orans 1996). The Samoan archipelago is divided betweenShow MoreRelatedCritical Analysis Of The Mead-Freeman Debate1283 Words   |  6 PagesNature versus Nurture Controversy: Critical Analysis of The Mead-Freeman Debate Research Topic Outline In 1983, Derek Freeman challenged Margaret Mead’s 1928 ethnographic work Coming of Age in Samoa, Freeman asserted that Mead’s conclusion of adolescent behavior conflicted with important facts within the social sciences. Freeman’s critique sparked an intense controversy in anthropology regarding the concept of nature versus nurture. Freeman claimed that Boasians’ insisted on separating cultural determinismRead MoreThe World s Culture And Traditions1881 Words   |  8 PagesBefore Mead, detailed immersive field work was not a common practice, and at the time the book was published the idea of living with native people was fairly ground breaking. Mead’s fieldwork was done entirely in the Samoan language, because few, if any at all of the natives spoke English. I believe this to be the best way to study a culture. Total emersion into another society’s culture and traditions would be the only way to truly grasp the concepts with in a culture. Alt hough difficult as it mightRead More From Unilineal Cultural Evolution to Functionalism Essay1048 Words   |  5 Pagesfamous exponent of the school of Culture and Personality is Margaret Mead. Margaret Mead was a student of Franz Boas and Ruth Benedict. Though in the course of her career she would eclipse the fame of her tutors, particularly the latter. Mead’s first field study was on the Pacific Island of Samoa, where she studied the lives of the adolescent girls in that culture. From this field study, she produced her famous work Coming of Age in Samoa (1949). In this work, she investigated the relationshipRead MorePower Of Culture On Public Displays Of Affection1423 Words   |  6 Pagesof affection, a park located in North Vancouver, Canada was chosen for my observation sessions. As evident through comparisons of Margaret Mead’s book Coming of Age in Samoa and Dorothy Holland and Margaret Eisenhart’s novel, Educated in Romance: Women, Achievement, an d College Culture, the portrayals of romance and affection varies from location to location. In Samoa, Mead depicts a culture that enables liberal and indulgent views of romance and sexuality while in the American South, Holland andRead MoreEssay on What Is Anthropology? How Is It Done?2374 Words   |  10 Pagesbones; so, she can contrive and test ideas about the origins of humans by studying the remains of living things (Shell 1991:37). Zihlman went to Miami University of Ohio, where she decided to major in anthropology after reading Margaret Meads book, Coming of Age in Samoa (Shell 1991:38). Since Miami University didnt have an anthropology department, she transferred to the University of Colorado (Shell 1991:38). After graduating in 1962, she went to do graduate work at Berkeley (Shell 1991:38).

Early 1920s and Hitler’s Rise to Power Free Essays

The Rise of Hitler 1. Why did so many German people join the Nazi Party? In the early 1920s, Germany was especially hard-hit during the Great Depression after the first World War, mainly because of the Treaty of Versailles, which made Germany go into an extreme hyperinflation. People could not buy anything with a reasonable price. We will write a custom essay sample on Early 1920s and Hitler’s Rise to Power or any similar topic only for you Order Now In 1922, a loaf of bread costed 163 marks. In September 1923, it would have costed 1,500,000 marks and in November of that same year which was the peak of the hyperinflation, the loaf of bread would be worth 200,000,000 marks. Prices were going up faster than people could spend their money. Naturally, workers were unhappy with the social and economic conditions in Germany. Then came Adolf Hitler, who formed a party known as the Nazis which promised many things that the workers and the people of Germany wanted and implemented his ideas through his propaganda. Hitler told people that he would make sure everybody got a job and that he would help the peasants. These ideas were implemented into his propaganda and proved to be very effective. . Why did the Munich Putsch 1923 fail? The Munich Putsch of 1923, also known as the Beer Hall Putsch was Adolf Hitler’s attempt to overthrow the Weimar government of Ebert and establish a nationalistic one instead in its place. The Munich Putsch failed because of several factors. First, Hitler had only about 35,000 supporters at that time so there was a shortage of rebels. Second, the Kahr had called in army and police reinforcements and 16 Nazis were killed. Hitler was threatening to shoot anyone that left the Beer Hall and didn’t rebel so not everyone was happy about participating in it, so when the police and army reinforcements came, most of them fled since they didn’t even want to be there in first place. Overall, the reason for the Munich Putsch failing is because the Nazis, despite not having enough supporters at the time, tried to force itself into power against superior military and political forces. 3. Why did Hitler receive such a light sentence at his trial for treason? What were the consequences of his trial and time spent in prison? In 1923, after being arrested for participating in the Munich Putsch, Hitler served a fairly light sentence of 5 years and a 200 mark fine after being accused of high treason. Hitler actually only served 9 months of those 5 years in prison. However, the usual consequence of high treason was death. The question is, why didn’t Hitler get executed? In the courtroom at the time of the trial, Hitler used that time to make another one of his speeches, causing more people to join his cause. This also made the judge like him, so the judge gave him a particularly light sentence. However, even if the judge didn’t like him, he would have gotten a lighter sentence anyways. This is because there were many more German people supporting Hitler now and if the judge sentenced Hitler to death, then that might have caused an uprising or a protest. Therefore, the judge decided to send him to pay a 200 mark fine and serve a 5 year prison sentence, although he would be eligible for parole after 9 months. How to cite Early 1920s and Hitler’s Rise to Power, Essay examples

Hkcee Chemistry 2007 free essay sample

The products of cracking contained unsaturated (hydrocarbons) / alkenes / C=C / ethane / reasonable name of alkene, which decolourised the bromine water immediately by addition reaction (2) (II) The student then dropped more bromine water into the boiling tube until the brown colour of the bromine water persisted. After about 10 minutes, the brown colour disappeared. Why? The products of cracking also contained saturated (hydrocarbons) / alkanes / methane/reasonable name or molecular formula of alkane, which decolourised the bromine water slowly by substitution reaction. 2) 3. The diagram below shows the set-up used in performing a microscale experiment. A drop of hydrochloric acid was added to the drop of chlorine bleach in a petri dish was immediately covered with is lid. Chlorine gas formed by the reaction between chlorine bleach and hydrochloric acid eventually filled up the whole set-up. a) Write a chemical equation for the reaction between chlorine bleach and hydrochloric acid. (1) b) State the expected observation at position C and position D. In each case, write a relevant chemical equation if a reaction occurred. i. Position C Change (from colourless) to brown/yellow (1) (1) ii. Position D No observable change/reaction (1) c) Suggest one advantage of replacing test tube experiments with morescale experiments. Less chemicals are used / less harmful to environment / less dangerous / easy to handle / save money / save time (1) 4. A student learnt from a book that an ancient chemical cell could be made by immersing an iron rod in a liquid placed inside a copper can. The liquid used was vinegar but not wine. The diagram below shows the set-up designed by him in simulation the cell. ) Explain, in terms of structure and property of particles why the liquid inside the ancient chemical cell was vinegar but not wine. Both vinegar and wine contain molecules. (1) Only vinegar (ethanoic acid) can ionize in water / contains (mobile) ions for conducting electricity. (1) b) The student found that the iron rod dissolved gradually, and colourless gas bubbles were given out on the inner wall of the copper can. i. Write a half equation, involving iron, for the reaction that occurred at the iron rod. (1) ii. Write a half equation for the reaction that occurred on the inner wall of the copper can. 1) c) The student found that colourless gas bubbles were also given out at the surface of the iron rod that immersed in vinegar. Explain the observation. Iron reacts directly with vinegar/H+ (aq) giving out hydrogen gas. (1) 5. A solid sample contains zinc and copper only. The composition of the solid sample was analysed experimentally as outlined below: 2. 00 g of the solid sample was added to excess dilute hydrochloric acid in a beaker. Upon completion of reaction, the mixture inside the beaker was filtered. The residue obtained was first washed with distilled water, and then dried. The mass of the dried residue was 1. 75 g. a) Write a chemical equation for the reaction involved. (1) b) How can one know that the reaction has been completed? No further gas evolved (1) c) Explain why it is necessary to wash the residue obtained. To wash away Zn2+ / Cl- / H+ / ZnCl2 / HCl /acid left behind (1) d) Explain why it is NOT appropriate to dry the residue with a Bunsen flame after washing. Copper will be oxidized / become copper(II) oxide / copper reacts with oxygen (or air) (1) e) Assuming negligible experimental errors, calculate the percentage of zinc by mass in the solid sample. Percentage of zinc by mass in the sample = (2. 00 – 1. 75)/2. 00 x 100% = 12. 5% (2) 6. Read the paragraph below and answer the questions that follow. Magnesium is a useful metal. Scientists adopt different methods to extract magnesium form magnesium oxide. In 1828, a scientist obtained magnesium in two steps. In the first step, magnesium oxide reacts with chlorine and carbon to form magnesium chloride. In the second step, the magnesium chloride formed reacts with potassium to give magnesium. In 1951, some scientists adopted another chemical process to obtain magnesium form magnesium chloride. Potassium is not used in this process, and there is even no need to use any other chemicals. | a) Write a chemical equation for the reaction that occurred in the first step of the method used by the scientist in 1828. (1) b) Name the type of reaction between potassium and magnesium chloride. Why can potassium react with magnesium chloride to give magnesium? Redox (reaction) / displacement (reaction) (1) Potassium is a more powerful reducing agent / more reactive than magnesium (1) c) I. What would be the chemical process that can obtain magnesium from magnesium chloride, without using potassium or other chemicals, in 1951? Electrolysis (1) II. What property does magnesium chloride possess so as to make the chemical process possible? Magnesium chloride is an ionic compound / electrolyte/conduct electricity in molten state/contains mobile ions. (1) d) Suggest one use of magnesium in daily life. Sacrificial protection / making alloy / firework / flash (1) 7. This question involves how to distinguish four unlabelled test tubes, each containing one of the following colourless liquids: a) By heating a small amount of each of the colourless liquids to dryness, ONE of the liquids can be distinguished. Suggest which liquid can be distinguished, and state the observation involved. Concentrated sodium hydroxide solution (1) Solid / powder left (1) b) By applying a flame directly to a small amount of each of the colourless liquids, TWO of the liquids would catch fire. i. Suggest which two liquids would catch fire. Methanol and hexane (1) ii. For the two liquids that would catch fire, the observations involved during combustion are different. Suggest the difference in these observations, and explain your answer. Methanol burns with a blue flame while hexane burns with a yellow flame / hexane burns with a more sooty flame than methanol (1) Carbon content in hexane is higher than that in methanol (1) iii. Without using other chemicals apart from the above colourless liquids, suggest another method to distinguish the two liquids that would catch fire. State the expected observation. (Smelling is not accepted. ) Add distilled water / conc. Sodium hydroxide solution separately to methanol and hexane. Methanol is miscible with distilled water. Conc. Sodium hydroxide solution while hexane is not. (1) OR Just mix then together. Two layers are observed. Upper layer is hexane while lower layer is methanol. OR Carry out boiling point test. The one with higher boiling point is hexane. 8. a) Teflon is a plastic that can be used to make artificial hip joints. Teflon is an addition polymer of linear structure consisting of carbon and fluorine only. The ratio of the number of carbon atoms to the number of fluorine atoms in the polymer is 1 : 2. i. Draw a portion of the Teflon structure with 10 carbon atoms. (1) ii. Write the repeating unit of Teflon, and suggest a possible monomer of Teflon. Repeating Unit: (1) Monomer: CF2— CF2 / Tetrafluoroethene (1) b) Nylon is a polymer that can be used to make carpets. A portion of the nylon structure is shown below: i. With reference to the given structure, explain whether nylon is a thermoplastic or thermosetting plastic. Nylon is a thermoplastic as there are no cross links. (1) ii. Suggest one reason why recycling of used carpets to recover nylon is difficult. Carpets may be made of a variety of materials. Separating nylon from carpets may be difficult. (1) iii. State one disadvantage of disposing of nylon carpets by incineration. Poisonous gas / NO2 / NO / CO / HCN / soot may evolve. (1) For question 9, candidates are required to give answers in paragraph form. For the question, 6 marks will be awarded for chemical knowledge and 3 marks for effective communication. 9. A certain brand of rust remover contains an acid of high concentration. The rust remover can be used for removing tough rust stains; while the rust remover, after dilution, can be used for removing comparatively light rust stains. Write some instructions, with reasons, on how the rust remover can be used safely at home. Two sentences have been given below as an introduction. The rust remover should be kept out of reach from children as it contains an acid of high concentration. The rust remover should not be swallowed because it is harmful. Chemical knowledge (6) Corrosive property * Safety glasses / goggles / rubber gloves / protective clothings / avoid contact with skin or eyes / wash with plenty of water it contacted with skin. * Because acid of high concentration is corrosive. Dilution process * Add slowly small amount of rust remover into a large amount of water with stirring * Because large amount of heat given out in dilution of the rust remover (acid of high concentration) / avoid rust remover (acid) splashing out. Other potential dangers Use plastic container instead of metal / do not use to clean marble / do not mix with chlorine bleach or caustic soda / do not put in warm place * Because will damage metal container / damage marble / toxic gas evolves if mix with chlorine bleach / large amount of heat releases if mix with caustic soda / acidic gas evolves if put in warm place. Effective communication (3) Section B 10. In an experiment to determine the concentration of phosphoric acid (H3PO4), 10. 0 cm3 of the acid was first diluted 250. 0 cm3 with distilled water. 25. 0 cm3 of the diluted solution was then transferred to a conical flask and titrated with a 0. 25 M sodium hydroxide solution using phenolphthalein as indicator. 17. 60 cm3 of sodium hydroxide solution was needed to reach the end point. a) Describe briefly how 10. 0 cm3 of phosphoric and can be diluted to 250. 0 cm3 with distilled water in the laboratory. 10. 0 cm3 of the acid is transferred into a 250. 0 cm3 volumetric flask using a pipette. (1) Distilled water is added up to the graduation mark. (1) b) Phosphoric acid reacts with sodium hydroxide in the titration according to the following equation: Calculate the molarity of the original phosphoric acid before dilution. No. of moles of NaOH = 0. 0176 x 0. 025 = 4. 40 x 10-4 No. f moles of H3PO4 in 25. 0 cm3 of the dil. soln. = 4. 40 x 10-4 / 2 = 2. 20 x 10-4 Molarity of the original phosphoric acid = 2. 20 x 10 -4 x 10 / (10/1000) = 0. 22 M (3) c) ‘At the beginning of titration, the solution in the conical flask turned pink upon the addition of sodium hydroxide solution but because colourless immediately upon swirling. However, pear the end point, the solution took longer time to become colourless upon swirling. ’ Explain why the time needed for the solution to become colourless is different at the two stages mentioned above. Neutralization is a quick process. 1) As titration proceeds, concentration of acid decreases, less chance of NaOH to contact with the acid / rate of reaction decreases. (1) d) In the titration, the 0. 025 M sodium hydroxide solution was used a standard solution. i. What does the term ‘standard solution’ mean? A solution of known concentration. (1) ii. Comment whether it is appropriate to prepare a standard solution of sodium hydroxide by the following procedure: ‘Weigh a sample of solid sodium hydroxide, dissolve it in some distilled wa ter and make up to a known volume of solution. ’ Not appropriale. Solid sodium hydroxide absorbs water/CO2 readily in air. 1) 11. In a chemical piant, extraction of copper from its ores involves roasting copper(I) sulphide with air inside a high temperature fumace. Copper(I) sulphide reacts with oxygen in air according to the following equation: The copper so extracted contains impurities including metals such as silver, iron, zinc and gold. The impure copper is then purified by electrolysis as illustrated in the diagram below: a) With reference to the reaction between copper(I) sulphide and ixygen, identify the species undergoing oxidation and the species undergoing reduction. Explain your answers in terms of changes in oxidation numbers. Species undergo oxidation is sulphide ion, O. N. of S changes from -2 to -4. (1) Species undergo reduction are copper(I) ion and oxygen, O. N. of Cu changes from +1 to 0 and O. N. of O changes from 0 to -2. (1) b) Explain briefly bow impure copper can be purified by electrolysis as illustrated in the diagram above. The impure copper anode (+ve electrode) becomes copper(II) ions / Cu Cu2- + 2e- (1) Copper(II) ions in the solution discharge on the pure copper cathode (-ve electrode) / Cu2- + 2e- Cu (1) c) Insoluble impurities deposit under the impure copper anode as ‘anode sludge’. According to the information given, suggest what substances the anode sludge would contain. Explain your answer. Silver and gold (1) They are less reactive than copper (less readily to dissolve as ions when compared with copper) (1) d) ‘The concentration of copper(II) ions in copper(II) sulphate solution remains UNCNGED in the above electrolysis. ’ Is this statement correct? Explain your answer. Not correct. Concentration of copper (II) ions drops gradually. At anode, iron/zinc dissolve as ions because they become ions more readily then copper. (1) However at cathode, copper (II) ions are always preferentially discharged. 1) e) State TWO advantages of building a factory in which contact process is carried out near the chemical plant mentioned above * SO2 available as resource for contact process. * The cost of transportation of SO2 is minimized * Prevent air pollution induced by SO2. (any 2 points above, 1 mark for each point, 2) 12. Organic compound Z contains carbon, h ydrogen and oxygen only. Analysis of Z gives the following results: i. 1. 0 g of Z contains 0. 401 g of carbon, 0. 068 g of hydrogen and 0. 531 g of oxygen. ii. 1. 0 g of Z, upon complete vapourisation, occupies 400 cm3 at room temperature and pressure. ii. There are no observable changes when potassium carbonate solution is added to Z. iv. Brown colour of bromine remains unchanged when several drops of bromine in organic solvent are added to Z. (Molar volume of gas at room temperature and pressure = 24 dm3) a) Calculate the empirical formula of Z. (2) b) Deduce the molecular formula of Z. (2) c) i. Suggest a possible structure of Z. Explain your answer. HCOOCH3 (1) Explanations: From (III): Z is not an acid. (1) From (IV): No C=C double bond in Z. (1) ii. Five the systematic name for the compound represented by the structure you suggested in (i). Methyl methanoate (1) For question 13, candidates are required to give answers in paragraph form. For this question, 6 marks will be awarded for chemical knowledge and 3 marks for effective communication. 13. Discuss the similarities and differences between soapy detergents and soapless detergents with reference to their raw materials, structures and properties. Chemical Knowledge (6) * Both soapy and soapless detergents have ionic group / head and long hydrocarbon chain / tail. * Both soapy and soapless detergents have hydrophilic property and hydrophobic property. Soapy detergents made from fats / oils, while soapless detergents made from petroleum. * Soapy detergents have —COO- group, while soapless detergents have —SO3 / —OSO3- group. * Soapy detergents cannot wark with hard water / acidic medium, wile soapless detergents can. * Bother soapy and soapless detergents act as wetting agents. * Both soapy and soapless detergents act as emulsifying agents * Soapy d etergents are wsually biodegradable, while soapless detergents usually are not. * Soapless detergents can be tailor-made, while soapy detergents cannot. Effective communication (3)