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Nobody is moving faster in Chile than the Chinese.At last count,14 different brands of Chinese cars,trucks,and commercial vehicles were on sale in Chile—with more expected to arrive by the end of the year.——Alex TaylorⅢ     

Mozambique Metical Exchange Rate Dynamics: Evidence of Fractional Co‐Integration in the USA and South African Rates

This paper studies the exchange rate dynamics of the Mozambique metical with respect to the US dollar and the South African rand. However, instead of using standard I(0)/I(1) techniques, we use long memory and fractionally integrated and co‐integrated models. Our results indicate that the two exchange rates are highly persistent, with orders of integration equal to or above 1. They also seem to be co‐integrated, with an order of integration close to albeit above 0 but with an AR coefficient very close to 1. Thus, although the two series seem to be fractionally co‐integrated, shocks in the long‐run relationship between the two variables are persistent and take a long time to disappear.     

Is the EU ETS a Just Climate Policy?

The European Union Emissions Trading System (EU ETS) is in dire straits. Prone to design problems and suffering from the effects of the economic crises the scheme is criticised for its poor achievements. In this paper we will analyse some of the features of this situation from an ethical perspective. The major part is dedicated to the complications within each phase of the EU ETS and to the recent developments it has undergone. We will briefly discuss the remedies suggested by prominent commentators. Furthermore, any policy tool to tackle climate change should be evaluated in view of the profound equity issues that are inherent to the climate problem. We will evaluate the EU ETS according to two justice-based criteria, related to effectiveness and the distribution of the duties involved in climate change, respectively. We will conclude that the EU ETS, in its current form, clearly lacks fairness on both criteria. However, the biggest problem is the unwillingness of EU leaders to mend, what could be, a commendable climate policy tool. To that extent, we argue, those leaders are acting unjustly.     

A model of the effect of affect on economic decision making

The standard economic model of decision making assumes a decision maker’s current emotional state has no impact on his or her decisions. Yet there is a large psychological literature that shows that current emotional state, in particular mild positive affect, has a significant effect on decision making, problem solving, and behavior. This paper offers a way to incorporate this insight from psychology into economic modelling. Moreover, this paper shows that this simple insight can parsimoniously explain a wide variety of behaviors.

Perceptions of Business Ethics in a Multicultural Community: The Case of Malaysia

Leaders and managers of today's multinational corporations face a plethora of problems and issues directly attributable to the fact that they are operating in an international context. With work-sites, plants and/or customers based in another country, or even several countries, representing a vast spectrum of cultural differences, international trade and offshore operations, coupled with increased globalisation in respect to political, social and economic realities, contribute to new dilemmas that these leaders must deal with. Not the least of these being a Code of Ethics and ethical decision making.This paper examines the differences in culture between a group of managers from the United States and similar group from Croatia using Hofstede's theory of International Cultures. The study explores how these cultural dimensions may help in our understanding of the differences in reported whistleblowing. The authors then postulate four hypotheses regarding various aspects of whistleblowing. These Hypotheses were than tested using a survey administered to a sample of U.S.A. and Croatian managers. Finally, the paper discusses the findings and practical implications for contemporary managers in the international arena.     

Growing East Asia

It was a busy exchanging period of East Asia in recent days. From October 28 to 31, 2007 the fourth China-ASEAN Expo (CAEXPO) and the fourth China-ASEAN Business and Investment Summit (CABIS) were held concurrently in Nanning, capital city of Guangxi Province in China. In the Expo,China witnessed a turnout of over 33,000 trade visitors and over 180 investment cooperation projects with ASEAN.     

Chambers of Commerce,Effective Bridges

Chambers of commerce across the world has played a key role in bringing closer economic and trade ties between different countries, and CCPIT/CCOIC is one of them. Established in May 1952,China Council for the Promotion of Internation- al Trade(CCPIT)comprises VIPs,enter- prises and organizations representing the economic and trade sectors in China.