Small and Medium Enterprise Financing in Transition Economies

This paper studies the financing status of small and medium enterprises (SMEs) in transition economies. Factors causing financing obstacles are indentified and further analyzed to determine their influence over financing patterns. Bank regulatory practices relevant to SMEs’ access to bank loans and their influence over loan structures are identified. This study contributes to the existing body of knowledge by exploring the impact of specific bank regulatory practices on credit lending to SMEs in transition economies.     

Financial Globalization and Banking Crises in Emerging Markets

Bank crises in emerging economies have been a feature of the recent global crisis, and their incidence has increased in the post-Bretton Woods era. This paper investigates the impact of financial globalization on the incidence of systemic bank crises in 20 emerging markets over the years 1976–2002 using measures of de facto and de jure financial openness. An increase in foreign debt liabilities contributes to an increase in the incidence of crises, but foreign direct investment and portfolio equity liabilities have the opposite effect. A more liberal de jure capital regime lowers the incidence of banking crises, while a regime of fixed exchange rates increases their frequency. The results of the econometric analysis is consistent with the experience of East European and central Asian emerging markets, which attracted a relatively large proportion of capital flows in the form of debt in recent years and have been particularly hard hit by the global financial crisis.     

Inflation and Welfare in Latin America

This paper follows Bailey (J Polit Econ 64:93–110, 1956) and Lucas (Econometrica 68:247–274, 2000) and estimates the welfare cost of inflation for 17 Latin American economies. We use annual data, from 1955 to 2000, and recent advances in the field of applied econometrics to estimate the inflation rate elasticity of money demand and report significantly high and differential welfare cost estimates for these economies.     

Toxic hazard reduction with passive mitigation systems

A major component of the United States Environmental Protection Agency's 112(r) Risk Management Program Rule is the evaluation and control of potential public exposures to toxic chemicals. The rule requires identification and evaluation of a worst case accidental toxic release scenario, but provides for the inclusion of passive mitigation systems in modeling the dispersion hazard zones that are to be communicated to the public. These passive mitigation systems can be taken into account in the consequence modeling if they will withstand the initiating event that causes the accidental release and function as intended. This paper discusses several passive mitigation systems that can be designed as an integral part of storage or processing of highly toxic chemicals. These include, but are not limited to, optimizing storage conditions, design of secondary containment, toxic vapor generation control, and enclosure design. The effectiveness of various passive mitigation systems is evaluated using consequence modeling for case studies involving highly toxic chemicals such as phosgene, chlorine, and ethylene oxide.     

SUSTAINABLE TECHNOLOGY DEVELOPMENT: THE MOBILE HYDROGEN FUEL CELL

Sustainable technology development implies large changes in technological systems. The illustrative process ‘hydrogen fuel cell in a boat’ is used here as an example of a learning process concerning a transition towards a hydrogen economy. Theoretically the concepts of constructive technology assessment, back-casting and social niche management are combined in this approach.     

Host tourism aspirations as a point of departure for the sustainable livelihoods approach

The sustainable livelihoods (SL) approach offers a holistic framework and a practical toolkit to analyze tourism's impacts and interactions within a community. This study argues that the usefulness of the SL approach in tourism can be enhanced by ensuring that the approach is built on a genuine people-centered starting point. The exploration of the local community's representations of, and aspirations for, their roles in tourism as a future livelihood choice meets this need. To verify the value of this approach empirically, this study examined the case of Lhasa, Tibet, and local youth as the research respondents. The findings suggest that the young hosts in Lhasa urban area were heterogeneous in their responses to tourism as a future livelihood choice. They fell into four subgroups: in-betweeners, ambivalent supporters, alternative supporters, and lovers. Further, this study examined the profiles of these four subgroups and explored their responses. The study enhances the SL approach by taking tourism as an example and clearly defining the departure point for its adoption within the context of broader livelihoods portfolios. Additionally, it suggests some potential directions for tailored management strategies to meet youth and community perspectives.     

Consuming dark tourism: A Thanatological Perspective

Despite increasing academic attention paid to dark tourism, understanding of the concept remains limited, particularly from a consumption perspective. That is, the literature focuses primarily on the supply of dark tourism; less attention, however, has been paid to the demand for ‘dark’ touristic experiences. This theoretical paper seeks to address this gap in the literature. Drawing upon the contemporary sociology of death, it explores the relationship between socio-cultural perspectives on mortality and the potential of dark tourism as a means of confronting death in modern societies. In so doing, it proposes a model of dark tourism consumption within a thanatological framework as a basis for further theoretical and empirical analysis of dark tourism.