Fiscal Policy in Southeast Asia

Monetary policy was ineffective in dealing with the 1997 Asian macroeconomic crisis. Fiscal policy might have been more effective but was not considered for a variety of reasons.     

SIMULATION OF THE GROWTH RESPONSE OF DRYLAND AND IRRIGATED CORN*

This paper studies the complex relationship between plant growth and the variables affecting that growth. The author has developed several growth models, with soil moisture being a primary explanatory variable in the models. The relationship of plant growth to moisture is demonstrated by the sensitivity of a corn plant to moisture at different periods in its growth. Ce papier fail une études des relations complexes entre la croissance des plantes et les variables qui influent cette croissance. ?auteur a construit plusieurs modèles de croissance en se servant de ?humidité du sol comme variable primaire explicalif La connexité entre la croissance des plantes el ?humidilé est démonstée en utilisant une plante de blé d;inde ei en montrant comment sensible à?humidité est cette plante à differentes étapes de sa maturation.     

十字路口必做两件大事

在过去的10年里，中国作为一个大工业中心的发展是极其显著的。统计数据给人留下了深刻的印象，并且这种增长势头还会持续一段时间。中国之路将带来可喜的成果，中国人民在这种增长和繁荣的大环境下将受益匪浅。当然，重要的是要让工业领导者理解他们现在正处在一个十字路口，他们的举动会促进过去10年里的增长或使之功亏一篑。     

Stock market perceptions of the motives for mergers in cases reviewed by the UK competition authorities: an empirical analysis

A number of studies have considered the motivation of managers to follow a merger strategy. However, as far as we are aware none has looked at the influence of competition regulation on merger motives using stock market data and event study techniques. Data drawn from 63 merger cases in the UK between 1989 and 2003 are examined for the stock market's perceptions of what motivated managers to pursue their initial merger bid. The findings suggest that the Synergy and Hubris dominate as motivations for mergers and that, unintentionally, competition policy may help to reduce the number of mergers motivated by Managerialism. Copyright © 2008 John Wiley & Sons, Ltd.     

Microelectronics and manpower in China

This article examines the relationships between microelectronics and manpower in Chinese enterprises in the context of the economic reforms. It focuses on skills and training developments and the potential for technology transfer.     

Prices of deep discount bonds and the Revenue Act of 1978: An evaluation of market response

This article explores the market response of deep discount corporate bonds to the reduction in the capital gains tax rate incorporated into the Revenue Act of 1978. Such tax change should have increased the desirability of assets acquired for capital gains potential, such as deep discount bonds. Examining a time series of prices and returns for a sample of deep discount corporate bonds and a control group of comparable duration and credit risk corporate bonds selling at or near par did indeed provide evidence of a market price reaction. Moreover, the price changes for the deep discount bonds occurred well in advance of the implementation of the tax change.