Is Africa integrating? Evidence from product markets

This paper presents a price-based assessment of product market integration in Africa using disaggregated retail prices for 91 products and 12 African cities from 1991 to 2008. We find evidence of substantial deviations from the law of one price ? product price differences between the cities averaged 76% over the period – a result that is consistent with the presence of large barriers to trade in the continent. Mean price differences across cities fell by close to a quarter over the period, but the decline was concentrated in the early 1990s with little progress subsequently, despite the regional trade policies implemented by the countries. Gravity-style estimates reveal that reductions in external tariffs and global trends towards price convergence in the early 1990s are the key contributors to the trend in price integration amongst the African cities.     

SCALE ECONOMIES OF THE FRANCHISED BUSES AND FERRIES OF HONG KONG, 1948–1998

The privatization of state transport operators has been driven by empirical discoveries in transport economic research of the constant or even diseconomies of scale of these operators. With reference to public records and official statistics, this paper is an initial attempt to examine the scale economies of and output relationship between major bus and ferry operators in Hong Kong during the period 1948–1998. The two franchised bus and two franchised ferry companies each experienced unique scale effects during different periods and correlated with each other in terms of production. The paper will also discuss the possible reasons for this phenomenon and policy concerns related to this finding.     

样板间:ChART Contemporary的策展实验

寻找房子——在我们开始样板间策展之前2009年的时候我们面临着两项挑战,这两项挑战促使我们重新定义了ChART Contemporary的策展轨迹。其一是我们感受到了全球经济衰退的影响,     

Higher skilled working tourists and their leisure lifestyles: a qualitative study of guest language instructors in South Korea

Using interviews conducted with 24 higher skilled working tourists employed as guest language instructors in the Republic of Korea, this paper explores how working tourists could secure an optimal leisure lifestyle in their host countries. Three key findings emerged. First, the respondents were seeking casual, touristic, amateur, hobby and volunteer leisure with their colleagues and with their host community members. But, the rewards and episodic aspects of their leisure, including formal and informal language development, suggested that it incorporated variations in project-based leisure as a core characteristic. Second, these respondents were taking part in guest, host and leisure speech communities that were each offering leisure choices. However, their leisure lifestyle was best when leisure, second language development and acculturation coincided in a leisure speech community. Third, that in a leisure speech community, respondents’ acculturation and friendships improved more so than in either guest or host speech communities. Also, that these respondents’ formal and informal second language learning within their leisure speech communities was essential for an optimal leisure lifestyle. The paper determines that leisure speech communities, occurring along a continuum of monetary, educational and interpersonal resources, could affect the linguistic mobility of higher skilled working tourists. It recommends that future research could examine if a sociolinguistics of leisure could assist in exploring and mapping the leisure lifestyles appearing among mobile populations in a globalising world.     

Regulating,joint bargaining,and the demise of precedent

Recent decades have seen a fundamental shift in the nature of economic regulation in the United States. Unauthorized by congress, and largely unnoted in legal and academic circles, regulatory agencies such as the Federal Communications Commission have changed the regulatory process by linking otherwise unrelated regulatory issues. Examples include tying merger approval to firm commitments to engage in conceptually unrelated build‐outs and other projects of political importance. This linking of issues has several effects, the most prominent being (a) tying regulatory issues changes the outcomes obtained, plausibly in predictable ways; (b) tying in some circumstances allows regulators to extend their authority to issues for which they have little or no legal authority; and (c) tied regulatory bargaining fails to produce valid legal precedent for firm decision making. We provide an analysis of these conclusions by examining the increasing use of consent decrees, voluntary merger commitments, and merger conditions by the Federal Communications Commission, referencing our discussion with a simple model of joint bargaining applicable to regulatory practice.