Vulnerability and industrial hazards in industrializing countries: an integrative approach

The extra vulnerability of industrializing countries to environmental problems and industrial accidents cannot be understood or solved by a ‘normal’ scientific analysis. Aspects of the social and institutional context must be included, through analyses based on post-normal science. The standard two-dimensional classification of PNS is modified to have axes ‘social ‘and institutional vulnerabilities’ and ‘complexity of technological hazards’. The analysis is mainly applied to the case of the relatively rare accidents with catastrophic potential. In these, the deaths per accident in India, Mexico and Brazil are much greater than in the industrialized countries. This discrepancy arises partly from location of such plants near residential communities for marginalized workers and their families. Other socio-political factors are relevant, as the role of these countries in the global production system, the enforcement of safety and planning laws, quality of housing, and lifestyle of residents. Reducing the vulnerability of industrializing countries will therefore require major social policies and a comprehension of the limits of the normal scientific and economic approaches to such problems.     

Measuring the Impact of Regulation: A Study of Canadian Basic Cable Television

We evaluate the appropriateness of regulation within the Canadian cable television industry by applying both parametric and non-parametric approachesto measure scale efficiency. Although we begin with a sample offering adequatedegrees of freedom for parametric estimation, important policy issues lead us toconsider further estimation over sub-samples. Since some of these sub-samplesare small enough that parametric models cannot guarantee reliable estimates, weobtain production characteristics non-parametrically through data envelopmentanalysis. The nonparametric results for scale efficiency support the parametricresults. We find evidence against a natural monopoly argument that might havejustified continuation of the mandated monopolization of Canadian cable televisionservice. By the end of the sample period, there were no longer substantial economiesof scale in most relevant markets.     

The effect of accounting firm size and member rank on professionalism

The relationship between the number of employees in a firm, their rank, and the level of professionalism among firm members is evaluated in 19 accounting firms, involving 325 accountants engaged in public practice. Professionalism is measured using five individual traits plus a composite. Results indicate that one trait (i.e. a belief that the profession provides a service to society) and the composite were inversely related to firm size. Rank or position in the firm hierarchy demonstrated an even stronger, independent effect on three professionalism traits and the composite, with higher member rank associated with higher levels of professionalism. Issues related to the future study of professionalism among accountants are discussed.     

Asymmetric Adjustment Costs, Asymmetric Pricing and Employment: Evidence from the UK

This paper uses an asymmetric multivariate model to investigate asymmetries in employment and pricing behaviour by firms. This generalises the approach of Granger and Lee (1989) and also exploits the cross equation restrictions on the equations for prices and employment implied by a restricted cost function—the dual to a Cobb‐Douglas production function. Our results suggest that both prices and employment respond asymmetrically to shocks to costs and demand.     

The Structure of Protection in Indonesia in 1989 1

Around the mid-1980s, Indonesia's protectionist regime supported an industrial structure in which industries were mainly oriented towards producing for the domestic market. Since then, trade policies have shifted to a more outward-looking strategy, stimulating the growth and diversification of non-oil manufactured exports. This paper attempts to quantify the nominal and effective rates of protection resulting from trade policies at the end of the 1980s. After an introduction in which the 1989 trade policies are discussed, estimates of nominal and effective rates of protection are presented. It is shown that though the level of protection has declined since 1987, it still varies widely across economic sectors. Furthermore, despite the more open trade strategy, the paper's findings show that the trade regime remains biased against exports. Finally, by examining some trade policy issues, the paper presents further ways of rationalising the structure of protection in Indonesia's industrial sector.     

The impacts of Hong Kong’s Currency Board reforms on the interbank market

Among the economies with a Currency Board System (CBS), Hong Kong (HK) is probably the one with the largest and most developed financial sector, as well as the highest capital mobility. Hence, studying HK’s CBS is not only crucial to HK, but also important for the understanding of the modern CBS. This paper outlines the major monetary reforms in HK since the late 1980s. The impacts of these reforms and the 1997–1998 Asian Financial Crisis are then examined empirically. We focus on the differentials between the US and HK interbank interest rates. We assume the conditional-mean equation follows an autoregressive process and the conditional-variance equation follows a generalized autoregressive conditional heteroscedasticity process. This model captures the time-varying level and volatility of the differential. In light of the empirical results we provide an assessment of the reforms in HK.     

The Northern Ireland Civil Service

Although cursory examination reveals that one must refer to 'British civil services', a lacuna has persisted in the literature since Gladden's (1967) seminal work. Invariably, the tendency is to accord the Northern Ireland Civil Service (NICS) footnote status. This article seeks to remedy this deficiency. It offers a resum of the political context of Northern Ireland before concentrating upon NICS itself—its characteristics and changing nature in terms of public administration and the management of public policy since 1970.     

Monetary union and the Maastricht inflation criterion: The accession countries*

We model an accession country facing a Maastricht‐type inflation criterion that specifies an inflation ceiling. In addition to deciding whether or not to satisfy this criterion, the country must decide how much costly economic reform to undertake. If the country puts enough weight on the future that it can credibly meet the inflation criterion no matter what the ceiling is, then the inflation criterion benefits the country but lowers reform. If the country puts less weight on the future, then a criterion with a properly chosen inflation ceiling can increase reform. We derive the inflation ceilings that maximize the country's welfare and its reform.