Time Past and Time Present: a Duration Analysis of IMF Program Spells*

The programs of the IMF were designed to provide short‐term assistance to countries with balance‐of‐ payments disequilibria. Over time, however, the Fund instituted new facilities with longer time horizons, while many countries adopted consecutive programs. As a result, the length of time spent by countries in IMF programs has grown. This paper analyzes IMF program spells for a group of developing economies over the period of 1982–2000. Duration models are used to investigate the time dependence of the spells and the factors that affect their duration. The hazard ratio of spells has a nonmonotonic shape, first rising and then falling. Spell duration is independent of previous spell length or the number of spells. Program duration is extended for countries with lower income, exports concentrated in primary goods, landlocked geographic status and autocratic regimes. Governments that are polarized have shorter spells, which may reflect a breakdown in governance.     

The status of biotehnology-based innovation

This paper contributes to the debate surrounding the question of whether biotechnology, particularly its applications in agricultural and food-related industries, should be regarded as revolutionary or evolutionary (with some reservations about the vaildity of teh question). The potential to create a revolutionary techno-economic paradigm shift does exist but it is currently systems. It is also important to consider the motivations underlying statements about the revolutionary/ evolutionary nature of biotechnology, as some such statements are intended to influence events rather than to reflect them. The impact of small firms on the direction and place of revolutionary change in these industries is likely to be marginal, unlike the situation in the early phases of teh electronics/IT revolution. At present the lack of integration of policy initiatives by national governments and the EC is a major factor discouraging the rapid implementation of change.     

The formal system paradogm for studying failures

One way in which general lessons may be learnt from sets of failures and disasters is by using a common conceptual framework for analysis. Many authors have found the use of individual systems concepts useful in their studies of failure. This paper presents a unified model that draws together those concepts and other related concepts. The model that is described forms part of a systemic methodology which has been used successfully in the understanding of failures. It is suggested that the model could be developed further so as to become a predictive and preventative tool.     

E.E.C. FISHERIES POLICY

This paper looks at the special characteristics of the fishing industry which distinguish it from the rest of the ‘agricultural’ sector and which have made its organisation at E.E.C. level both politically and economically difficult. It examines the reasons for the moves behind the creation of a common fisheries policy, the difficulties which the Community of nine (and subsequently ten) countries had in adapting to rules worked out previously by the Six, the subsequent protracted negotiations and the eventual achievement of the new policy which was agreed in January, 1983. The details of the new Common Fisheries Policy are then outlined with possible future problems in the implementation of the policy as well as the opportunities it provides described by way of conclusion.     

Training and women: Some thoughts from the grassroots

Current assumptions and values with respect to management training for women are examined. A number of suggestions for change are made. The thrust of the changes will move us toward ensuring that education for women does not remain “education for frustration”, that is, education which gives women the desire for change in a world that remains the same. Many women have paid their dues, even a premium, for a chance at a top position, only to find a glass ceiling between them and their goal. The glass ceiling is not simply a barrier for an individual, based on the person's inability to handle a higher-level job. Rather, the glass ceiling applies to women as a group who are kept from advancing higher because they are women. (Morrison, White and Velsor, 1987, p. 13). Breaking the Glass Ceiling Can Women Reach the Top of America's Largest Corporations?     

After the global financial crash: Individual factors differentiating young adult consumers’ trust in banks and financial institutions

Our exploratory study aims to examine individual factors that may differentiate young adults’ trust in banks and financial institutions. We use a longitudinal data set compiled during two, timed surveys, before and after the collapse of the nation’s financial system. Participants (N=748) were classified into three groups distinguished according to their differing levels of trust. Findings based on ANOVA and three-group discriminant analyses indicate that several individual factors – self-reported well-being (overall well-being, financial well-being, subjective financial knowledge) and financial status (determined by parents’ socioeconomic status and total debt level) – significantly influence young adult consumers’ level of trust in banks and financial institutions.     

The Supreme Court Holds Class on Sexual Harassment: How to Avoid a Failing Grade

This article analyzes the three recent sexual harassment cases decided by the U.S. Supreme Court in its 1997–98 session. The purpose is to highlight the most common mistakes made by management as evidenced by the case history on this topic. Each mistake is described in the context of the cases and with reference to widespread business practices. The explanation of each error is followed by a brief practical directive to aid management in formulating appropriate policies and practices on that topic. A concluding section describes the desired result of each recommendation from the perspective of the employees. This article gives managers a quick checklist to ensure that their policies and practices avoid common problems and are up to date with the latest court interpretations on sexual harassment.