Comparative Institutional Advantage and the Appropriate Development Model for Sub-Saharan Africa

The theory of comparative institutional advantage posits that certain types of firms locate production facilities in a particular location and avoid other locations due to unique institutional advantages and disadvantages. In sub-Saharan Africa, neoliberal policies, weak and corrupt states, and Transnational Corporations have created a particularly destructive variant of capitalism. African capitalism generates little in the way of economic growth, rewards mainly the TNC and the African elites, and undermines Africa’s economic future via activities that are utterly extractive in nature. African capitalism is facilitated directly by the WTO, the structural adjustment policies of the IMF and the World Bank, and the institutional structures of African economies. After outlining the problems with African capitalism as currently structured, the paper goes on to suggest an alternative to this model involving experimental, embedded, grass roots development efforts that build on domestic cultural institutions that would generate significantly more positive outcomes for the people of sub-Saharan Africa. By abandoning neoliberal policies, it might be possible to create a better economic model that would build on community-centered institutional strengths to benefit a greater proportion of the population.

Technology and marketing: The magic mix?

Market pull and technology push are not opposing or mutually exclusive paths to innovation. Understanding the technology-marketing interface and integrating it with corporate strategy and organizational design is the way to maintain a productive balance between these two.     

Shareholder wealth maximization,business ethics and social responsibility

The primary objective of this article is to develop a framework for analyzing the ethical foundations and implications of shareholder wealth maximization (SWM). Distinctions between SWM and the more widely examined construct of profit maximization are identified, the most significant being the central role played in SWM by the market mechanism for pricing the corporation's securities. It is argued that empirical tests concerned with evaluating the ethical implications of SWM will almost surely involve a joint hypothesis. A number of recent empirical studies aimed at testing hypotheses with explicit ethical content are reviewed.Geoffrey Poitras is an Associate Professor of Finance and International Business in the Faculty of Business Administration at Simon Fraser University. The author's published work has appeared in various journals includingThe Journal of Futures Markets, Canadian Journal of Economics, Journal of International Money and Finance, Journal of Statistical Computation and Simulation andApplied Economics. This paper was written while the author was a visiting Senior Fellow at the National University of Singapore.     

Behind the masks: Tourism and community in Sardinia

This paper addresses community-based tourism and raises questions concerning the meaning of the term. Desired results may not be achieved through strict application of the concept in the absence of external inputs in all but a few favoured cases. Tourism, by definition, involves links with the outside world, raising questions concerning the types and extent of inputs that can be accepted without undermining the meaning of ‘community-based’. Through a case study of tourism in Mamoiada, Sardinia, the paper addresses the concept of community and locals’ participation in tourism development. It points out the key role played by local institutions and cosmopolitan locals, who are residents with external exposure, who are able to take initiatives and act as catalysts of development. Tourism planners should carefully evaluate the institutional arrangements, including the presence of cosmopolitan locals and their involvement in the creation of competitive local attractions, for the success of tourism development.     

Errata

Abstract

Using large‐scale and nationally representative surveys of the American public conducted by the National Center for Health Statistics, the authors examined recent differences in the sport and fitness activities of men and women aged 18 or older. It was found that participation in sport and fitness activity declined by 12% between 1985 and 1990. Contrary to expectations, such declines were greater among women than men, thus increasing the gender gap in sport and fitness. Young women showed greater rates of decline than did older women, and the largest declines, amounting to more than 30 occasions of sport and fitness participation per year, were found among the youngest group of women in the sample. Such differences continued to be pronounced even when the influence of a variety of variables pertaining to biological, social, economic, and lifestyle statuses were controlled. A model for the analysis of such variables in relation to sport and fitness activity is presented.