SERVICES, TRADE, AND REGIONAL STRUCTURAL CHANGE IN CANADA 1974 - 1984

Interest in the extent to which services are traded interregionally and internationally, as well as the role of services as a basic industry, has heightened over the past decade. Analysis of these questions has been hampered, however, by the fact that conventional data sources such as income and product accounts or employment records do not identify transactions between sectors or patterns of trade on a commodity basis. This study uses a series of commodity-by-industry input-output models for the Canadian provinces which do permit an analysis of interregional and international trade on a commodity basis. We are also able to identify the importance of commodity exports on a direct-plus-embodied basis as well as the more conventional direct basis. Our analysis indicates that service exports to the Rest of the World was the fastest growing demand category between 1974 and 1984, followed by exports to Other Provinces. We also conclude that the conventional method of identifying exports, on a direct basis only, understates the amount of services exported as well as the contribution of services to the regional growth process.     

铜陵市积极构建服务平台 强化服务手段

近几年来,铜陵市中小企业发展迅速.目前,全市中小企业已占全市企业总数99.9%;所提供的国内生产总值和就业人数均占全市80%以上.为进一步推进全市中小企业的发展与提高,铜陵市委、市政府采取了一系列的举措,于2002年10月在全省率先成立了铜陵市中小企业服务局.该局成立以来,克服机构上下不对口,基础工作薄弱,业务工作无先例且难以上下系统联动等诸多困难,确立了"服务立局、服务兴局、服务促企"的工作方针,以服务全市中小企业创业与发展为中心,坚持诚信服务、实现有效服务,不断创新服务内容和形式,并积极探索长效服务工作机制与途径.     

IS IT TIME FOR PRICE‐LEVEL TARGETING?

This paper summarises arguments for and against a shift by central banks from inflation targeting to price-level targeting. It concludes that the weight of the evidence favours a shift. One of the advantages of price-level targeting is its superior macroeconomic performance when short-term nominal interest rates are close to zero. Since this is the current situation facing many central banks, it may also be politically opportune to consider such a switch.     

INVARIANCE OF THE UNORDERED BEST ESTIMATOR IN THE T,–CLASS FOR MIDZUNO'S AND FOR IKEDA–SEN'S SAMPLING PROCEDURES

MIDZUNO'S sampling procedure is considered where the first (n – 1) draws are carried out with simple random sampling without replacement and the nth draw with varying probabilities. It is shown that for this scheme, the best estimator in the HORVITZ–THOMPSON (1952) T_t–class of linear estimators exists and rejects the last draw. When MURTHY'S technique of unordering of an ordered estimator is employed, the rejected draw is restored and the unordered estimator is obtained. Surprisingly, this unordered estimator is the same as the unordered best estimator in the T₁–class, derived for IKEDA–SEN'S sampling procedure.     

THE EU/IMF RESCUE PROGRAMME FOR IRELAND: 2010–13

The EU/IMF €85 billion rescue of the Irish economy required Ireland to address critical problems in banking and bank regulation, the public finances and structural reform. Ireland must also address weak expertise in economics in the public sector and in banking, rent‐seeking, regulatory capture, moral hazard, lack of accountability and failures of corporate governance.     

Hostile–vs.–white‐knight bidders

We examine the hypothesis that white knights enter control contests to spend free cash flow instead of paying it out to shareholders. Tobin's q is used to measure management's inclination to invest in negative NPV investments. We find that historically, white knights have over‐invested and their acquisition of the target is one more negative NPV investment. Alternatively, hostile bidders’ past investment decisions have increased shareholder wealth. Furthermore, white knights’ returns upon the announcement of their bid have a significant negative relationship with free cash flow, implying that their bid reveals information about white knights management's investment decisions. Copyright © 1999 John Wiley & Sons, Ltd.     

SURVEY OF SOCIAL AND ECONOMIC GROWTH IN SE EUROPE – A NEW CONCEPTUAL FRAME FOR SUSTAINABILITY METRICS

The practice so far has indicated that there is a sensitive relationship that exists between social and economic subsystem of sustainable development, therefore this research suggests comparison of the states of these two subsystems as a new conceptual frame which is essential for strategic conceptualization of development. The research pointed out a rather visible collision between the achieved degree of economic and social development in the countries of South Eastern Europe in respect to Germany and France, which were taken into consideration as two of the most developed countries in the European Union and in the entire world. The indicators which are given in this research point to the necessity of further scientific and practical consideration of strategic conceptualization of relationship between economics and society.