THE FUTURE OF THE PANAMA CANAL IN A COMPETITIVE WORLD*

With the termination of the Panama Canal Treaty, a new mode of canal operation can be expected. The treaty affects the transfer of the Panama Canal from the United States to the Government of Panama at the end of the year 1999. Whether or not the Panamanian Government will maintain the current price of canal passage is the major concern of this paper. This paper forecasts the future traffic in the canal, and examines possible changes in canal pricing along with possible actions of canal users, under the framework of a gaming situation. The feasibility of building a new canal is also examined.     

THE SIZE OF HOUSING SUBSIDIES IN CHINA*

Inexhaustible, strong demand for housing, which is generated from the current low rents and the work-unit-distribution housing system, has caused permanent housing shortages in China's urban sector. It is also one of the main sources of China's cost-push inflation. The transition from public to private saving, which is included in current housing reform, is the only way to solve the housing problems facing the country. Calculation of the size of housing subsidies is the very foundation of any housing reform program. Based on my estimates, the annual housing subsidy per woker expanded 8.6 limes during the period from 1978 to 1988, increasing at an anual rate of 24.1%. Total housing subsidies expanded 12.4 times, rising at an annual rate of 28.6%. Relative to GNP, the housing subsidies grew from 1.3% to 4.2% during the period. The rapid expansion of housing subsidies has several significant policy implications for China's economy. These include the need for reappraising real worker income identifying the enlarged portion of revenue in kind, and recalculating housing consumption.     

CONVERGENT DYNAMICS IN THE PRODUCTION OF ORGANIZATIONAL CONFIGURATIONS*

Organization theory lacks an adequate accounting for the processes that produce distinct structural configurations. This article interprets organization structure as an instantaneous correspondence between three analytical levels that simultaneously constrain and stimulate behaviour: infrastructure, sociostructure, and superstructure. Structuring results from a process of convergence across levels that produces distinct configurations and provides observers with a living record of the organization's historical development. This article explores the dynamics of convergence through a comparative case study of two organizations in the publishing industry. Both firms developed into stable structural configurations that were uniquely produced from historically specific accommodations.