Explaining Russia's Currency and Financial Crisis

The paper attempts to sketch a framework for understanding Russia's August 1998 financial and currency crises with reference to the main theories put forward so far. Our thesis is that, while not fitting easily into any pre-existing framework, the Russian crises shares many features of first-generation models inasmuch as it was largely due to inconsistencies among an overvalued peg, tight money, and an evident inability to address the fiscal deficit. In other terms, it derived from the incompatibility between standard IMF stabilisation policies and the difficulties that Russia was facing as a transition economy. On the other hand, by touching both currency markets and the banking sector, the Russian Episode shares also important features of the twin crises framework.The analysis considers the role of exchange rate movements and capital flows on Russia's rising vulnerability, fiscal problems and the building up of the public debt. It assesses the state of the Russian Banking sector and discusses the contagion effects of the Asian crisis and policy response. It shows how the core of the Russian crises lies in an unsound, IMF-backed, defence of the rouble, which in 1998 had become increasingly unsustainable.     

The attitudes and nutritional knowledge of 11‐ to 12‐year‐olds in Merseyside and Northern Ireland

School is a major area for providing young people with nutritional knowledge and skills. In Northern Ireland home economics (HE) is taught to 11‐ to 12‐year‐olds. The 1988 Education Reform Act introduced the national curriculum and HE as a subject was effectively abolished in English schools, and key stage 3 pupils in England are taught nutrition in Science, Design and Technology and in the cross curricular theme of health education. The aim of the study was to compare the attitudes and nutritional knowledge of children in Merseyside, England (M) and Northern Ireland (NI). A questionnaire was designed, which examined attitudes to aspects of healthy eating and tested the subject's knowledge, practical and theoretical, on nutrition and healthy eating. Subjects aged 11–12 years were recruited (M: 541, NI: 128). The majority ‘understood and knew what to eat to have a healthy diet’, ‘liked the taste of healthy food’ and considered that ‘there were healthy foods at home’. However, a significantly greater number in Merseyside agreed that ‘their health will be affected in the future by what they eat now’ (M: 71%, NI: 54%, P < 0.01) and agreed that ‘they enjoyed cooking’ (M: 76%, NI: 56%, P < 0.01). Whereas more from Northern Ireland agreed that ‘they do not know what foods to eat to have a healthy diet’ (M: 14%, NI: 30%, P < 0.01), ‘that healthy eating involved “dieting” ’ (M: 29%, NI: 59%, P < 0.01) and agreed that ‘there are no healthy food choices at school’ (M: 23% NI: 42%, P < 0.01). More subjects from Merseyside disagreed that ‘healthy eating is a waste of time’ (M: 87%, NI: 77%, P < 0.01). The mean knowledge scores (correct answers) from Merseyside were significantly greater than from Northern Ireland (total score: M: 51%, NI: 43%P < 0.05; practical score: M: 58%, NI: 49%P < 0.05, theory score: M: 38%, NI: 31%, P < 0.05). The results indicate that the healthy food message seems to have been better learnt by children in Merseyside but results of surveys in Merseyside into eating habits suggest that many have not put this knowledge into practice.     

The role of housing vouchers in baltimore city,Maryland

In Baltimore City, the relative well-being of black and white families using Section 8 housing vouchers versus Section 8 housing certificates is compared. Logistic regression is used to examine whether the social and economic characteristics of a regional planning district play a significantly different role in the likelihood that a district will have voucher or certificate recipients. A second analysis examines the average monthly rent paid by blacks and whites for housing in the certificate and voucher programs. The results suggest that whites receive greater economic benefits in the voucher program than in the certificate program while blacks do not. This article is based on a paper entitled /’’ The Impact of Housing Vouchers on the Black Family,” which was funded by the Baltimore Urban League and presented at the National Conference of Political Scientist, March 1989.     

The increased use of trade controls by the industrial countries

The increase in non-tariff barriers to trade in the industrial countries has given rise to much concern. This article attempts to summarize the formal non-tariff measures that have been introduced by the industrial countries to measure roughly how much trade is now affected by them.     

Emerging Innovation in Emerging Economies: Can Institutional Reforms Help Russia Break Through Its Historical Barriers?

This article investigates Russia's historical and current innovation initiatives through the lens of institutional theory, utilizing the triple‐helix innovation model, which we have extended to include the context of Russian culture. The Russian government has embarked upon a national innovation policy and has committed billions of dollars with the goal of developing a knowledge‐based economy to enhance participation in the global arena, while simultaneously diversifying away from energy and natural resources. Historically, Russia has typically not succeeded with innovation beyond the idea, and sometimes product development, stages. Our primary conclusion is that the inadequacy of formal and informal institutional support has created historical barriers in Russia, some of which are currently being addressed to develop an innovation ecosystem encompassing a more supportive institutional infrastructure. The article concludes with implications for US firms and universities involved with innovation activities in Russia. © 2014 Wiley Periodicals, Inc.     

A STUDY OF RETAILER AWARENESS IN THE MARKETING OF BEEF IN ALBERTA*

Opinions about beef retailing were obtained from meat retailers in the province of Alberta. The study revealed that meat retailers do not have adequate consumer information and do not recognize the importance of such information to their operations. Furthermore, the study indicated that the retailer is basically conservative in his attitude to change and innovation and that meat retailing is production, not marketing, oriented. This study disclosed that the most important problem currently facing beef retailers is related to the present grading system. The present grade standards encourage the production of overfat carcasses. Overfinished carcasses are the primary cause of low net retail margins. Irregularity of supplies and the need for consumer education are also cited as problems of beef retailing. On a fait un sondage des opinions auprès des détaillants de viande dans la Province de ?Alberta sur la vente en détail du boeuf. ?étude a révélé que les détaillants de viande n'ont pas de renseignements consommateurs adéquats, et qu'ils ne reconnaissent pas ?importance de tels rensei nements dans leurs opérations. En plus, ?etude a indiqué que le détaillanl est foncièrement conservateur dans son attitude en ce qui concerne les changements el ?innovalion; et que la vente en dètail de la viande est orientèe vers la production et non pas vers le marchè. ?étude a révélé que le problème le plus crucial que recontrent couramment les détaillants de bouuf est en rapport direct avec le système actuel de classement. Les standards de classement actuels encouragent la production de carcasses sur-graissée. Ces carcasses sont la source principale de has bénéfices nets dans la vente en détail. On aborde également les problèmes de ?irregularité de la marchandise et de besoin ?éducation du consommateur dans la vente en détail du boeuf     

Attitudinal Barriers to Women's Career Progression in Accounting in Australia

The literature on women's career progression in the professions has suggested a number of categories of factors that may explain the observed gender differences. This study uses data from a survey of Australian accountants to show the extent of differences between male and female accountants in their attitudes towards their careers. There are some differences between the genders in their ideas about requirements for promotion (although these are generally small) and in aspects of job satisfaction. Males aged more than 30 have higher levels of ambition and place more emphasis on career planning than do females over 30.