Human Capital and Systems of Innovation in African Development

Abstract: In this paper we propose that historically generated institutions and persistent pattern of human capital formation condition the emergent systems of innovation in Africa. These factors determine the development path of the region. We advance the notion of dynamic and non‐dynamic systems of innovation, the latter describing the African condition. We combine the strands of literature on institutions and their persistence in shaping development with evolutionary theory and systems of innovation. Evidence is presented on the colonial origins of skewed schooling enrolment, at variance with the industrialization objective of modern economies. Employing simple statistical tests, the persistence of initial human capital (school enrolment) reflects in the significant correlation among the three levels of schooling enrolments, and correlation of enrolment in 1970 with per capita income in 2000, a periodicity of some three decades. This outcome is consistent with the literature on countries at early stages of development. Path‐dependency is partially proved even though we did not attempt to investigate all variables making up the system of innovation. This is a first tentative attempt to explore long‐run development in Africa within the systems of innovation framework.     

Living Decently

One of the reasons why poverty lines became popular at the turn of the century was their promise of a scientific technique that would dispense with moralising about poverty. We argue that a price paid in this quest has been an impoverishment of the richness of the notion of 'a decent life', the moral concept underlying poverty. In addition, poverty lines have in practice been more to do with inequality at the bottom end of the income distribution than with poverty. The purpose of this article is to rehabilitate the measurement of poverty, and to make it credible. We set out our preferred method of poverty measurement, and illustrate it using data from the Australian Standard of Living Study. A feature of our approach is to distinguish clearly between issues of inequality and issues of poverty. Questions such as who is on the bottom of the income distribution, whether this has changed over time, and how income levels of the worst off compare with the mean, are questions of inequality. As such, the answers tell us nothing at all about how the worst off are actually living. To answer that question, we require direct measures of consumption and of social participation. These measures are not as simple, but they provide us with knowledge about poverty that poverty lines have promised, but have not delivered in a credible fashion.     

Technology Transfer to the Private Sector: A Field Study of Manufacturer Buying behavior

Public sector R&D is an important source of new product technologies and concepts. If the transfer of these technologies to private sector manufacturers is viewed from a marketing perspective, manufacturing organizations can be analyzed as industrial "buyers." David Large and Donald Barclay report on case-based research that explores this technology buying process. Findings are induced that suggest: user value, patent/proprietary position, prototype efficacy, and strategic fit are the most important attributes of the transfer proposal; and business empathy and credibility are the most important attributes of the transfer agent. The R&D director is identified as a key influencer in the transfer decision and represented by a model of the director's attitude toward technology transfer proposals. The authors develop implications for public sector managers/agents and suggest opportunities for further research.     

The characteristics of dyadic trust in executive coaching

This qualitative study explores the development of trust in executive coaching relationships. Interviews were conducted with 27 high‐level executives who were voluntarily engaged in executive coaching for the purpose of leadership development. The theory that emerged from these findings, as expressed in an integrated model of sequential, interdependent trust development, was that interplay of relational, situational, and behavioral factors influenced the development of trust in executive coaching. Trust was highest when (a) the client was willing to disclose honest feelings and thoughts to the coach and was met with a supportive, nonjudgmental reaction from the coach; (b) the organization was supportive of the positive leadership development that could occur in executive coaching; (c) the coach and client were clear about expectations of confidentiality and outcomes; and (d) the coach supportively confirmed the client's developmental needs, and challenged the client's leadership behaviors. These multiple, interdependent factors manifested throughout the coaching relationship to result in bonds of trust.     

Crossing London: Overcoming the Obstacles to CrossRail

London's main transport modes are over-loaded. An important part of the solution is CrossRail, a new east-west underground railway. It was agreed and fully planned all of ten years ago; but the obstacles to its construction are severe and have become worse as time has passed. While the value of CrossRail is clear and generally recognized, a large number of direct interests have both the incentive and the power to object to it as a specific proposal, in an attempt to secure a better outcome for themselves. Many commercial, public and governing institutions will have to be persuaded to make a sacrifice in the interests of the project going ahead.     

Influences on strategic decision effectiveness: Development and test of an integrative model

This paper draws upon three broad perspectives on the strategic decision‐making process in order to develop a more completely specified model of strategic decision effectiveness in a different context, namely Egypt. The key variables in this model consist of three strategic decision‐making process dimensions (rationality, intuition, and political behavior); seven moderating variables concerning decision‐specific, environmental, and organizational factors; and strategic decision effectiveness as an outcome variable. A two‐stage study was conducted in which the first stage provided exploratory insights and the second stage investigated hypotheses on the impact of strategic decision‐making process dimensions on strategic decision effectiveness and the moderating role of broader contextual variables. The second‐stage study produced three major findings: (1) both rational and political processes appear to have more influence on strategic decision effectiveness than does intuition; (2) strategic decision effectiveness is both process‐ and context‐specific; and (3) certain results support the ‘culture‐free’ argument, while others support the ‘culture‐specific’ argument. Copyright © 2007 John Wiley & Sons, Ltd.     

Strong Renminbi Policy ＆ the Coming of Age of China＇s Outward FDI

This, we believe, will be the year of Beijing＇s strong renminbi policy. Despite concerns about exports, we believe Beijing will keep the CNY pegged against a strong dollar. Combined with cheaper commodity prices and the pressing need of many overseas commodity firms to deleverage, this will create the perfect opportunity for China＇s firms to significantly ramp up their outward foreign direct investment （FDI）. China＇s outward FDI flows are focussed on three sectors： energy, raw materials, and agricultural land. The beginning of 2009 has seen a flurry of deals in which Chinese investors have secured ownership or long-term supply contracts to such things.     

Price Discovery and Trading After Hours

We examine the effects of trading after hours on the amountand timing of price discovery over the 24-hour day. A high volumeof liquidity trade facilitates price discovery. Thus pricesare more efficient and more information is revealed per hourduring the trading day than after hours. However, the low tradingvolume after hours generates significant, albeit inefficient,price discovery. Individual trades contain more informationafter hours than during the day. Because information asymmetrydeclines over the day, price changes are larger, reflect moreprivate information, and are less noisy before the open thanafter the close.