Children's advertising: the ethics of economic socialisation

There is focus upon advertising and children for two broad reasons. First, it is because children are children, and are considered separately. Second, it is because children will become adults. Advertising therefore effects behaviour during childhood and continues to do so into adulthood. Advertising to children rarely receives a good press, and it remains a controversial topic in the wider domain. Is it responsible for poor diet? Does it make children pester their parents? Is there too much of it? And does Christmas have to start in September? Subsequently the issue has evolved to question whether there should be advertising to children, and if so whether it should be regulated. This discussion paper examines arguments for and against children's advertising, and concludes that whilst there are compelling arguments on both sides, advertising to children remains an economic necessity in need of adjustment and regulation.     

The Potential Impact of Reforms to the Essential Parameters of the Council Tax*

Council tax was introduced in Britain in 1993 and represents a unique international property tax. There is a growing belief that it is time to reform the number and structure of council tax bands, but such views have a minimal empirical base. This paper sets out to assess the impact of changing the bands on personal and local government finances, and extends the analysis to the role of the tax multipliers linked to each band. The research is based on the experience of a representative sample of local authorities in Scotland. A statistical revaluation for 2000 is estimated for the existing eight‐band system, and from this base a 10‐band system is calculated. Financial implications are then simulated for each local authority, taking account of central resource equalisation mechanisms. The results indicate that increases in the number of bands will have little impact on the burden of the council tax compared with regular revaluations. Changing the tax multiplier range has the greatest impact on local authority finances and council tax payments.     

Institutional Environment and Sovereign Credit Ratings

We use a sample of 86 counties to examine the cross-sectional determinants of sovereign credit ratings. We find that the quality of a country's legal and political institutions plays a vital role in determining these ratings. A one-standard-deviation increase in our legal environment index results in an average credit rating increase of 0.466 standard deviations, even when we control for obvious factors such as GDP per capita, inflation, foreign debt per GDP, previous defaults, and general development. Although part of this effect is due to the legal environment's endogeneity, its relative importance is robust to endogeneity concerns.     

Fixed and mobile competition in transition economies

The main aim of this paper is to explore the competition between traditional fixed line and mobile services across Eastern Europe and the Former Soviet Union. Whilst there have been some pioneer studies in the US, empirical evidence for other regions is very limited. Transition countries witnessed important trends in the mobile segment of the market. First, mobile penetration rates have been growing at exponential rates, whereas fixed line penetration rates have at best stagnated. The present analysis is based on empirical evidence based on country level data and case studies, as well as enterprise level data based on major surveys that the EBRD and the World Bank undertook in 2002 across all transition economies. Econometric analysis at the enterprise level shows some interesting results, including evidence of strong network externalities and fixed to mobile substitution effects at the country level.     

Cementing skills: training and labour use in UK construction

This article explores questions of labour reproduction and skill development under different contract arrangements within the UK construction and civil engineering industry. The central concerns of the article relate to the impact skills shortages within the sector have had on recruitment practices, training provision and the use of contract alternatives in terms of both direct and non‐standard labour. The argument primarily draws on data from a national postal survey conducted in 2002, covering firms of all sizes within this key economic sector. The article reveals some interesting findings regarding recruitment and training practices which, despite encouraging headline figures on the existence of training, reveal an over‐dependency on contingent labour and low levels of apprenticeships – particularly among small firms, which are predominant in the industry. This suggests that the recognised problems of labour shortages within the sector are ongoing, and that the aim of attracting new workers into the industry remains unrealised.     

The Governance of cooperatives and mutual associations: a paradox perspective

Abstract This paper presents a new theoretical framework for understanding the governance of co‐operative and mutual organisations. The theoretical literature on the governance of co‐operatives is relatively undeveloped in comparison with that on corporate governance. The paper briefly reviews some of the main theoretical perspectives on corporate governance and discusses how they can be usefully extended to throw light on the governance of co‐operatives and mutuals. However, taken individually these different theories are rather one dimensional, only illuminating a particular aspect of the board's role. This has lead to calls for a new conceptual framework that can help integrate the insights of these different theories. The paper argues that a paradox perspective offers a promising way forward. Contrasting the different theoretical perspectives highlights some of the important paradoxes, ambiguities and tensions that boards face .     

The application of development economics: general principles and context specificity

The purpose of this paper is to consider the application ofdevelopment economics at the methodological level. In particular,given the shortcomings of both the modernist and postmodernistapproaches to development policy, we consider an alternativeapproach, drawing on critical realism, which combines the benefitsof generality with the benefits of attention to specificityof context. The approach is illustrated by showing how principlesin development economics addressing issues of globalisationand peripherality can serve to illuminate some of the causaltendencies at work in a developed economy such as Scotland.     

Stochastic imitation in finite games

In this paper we model an evolutionary process with perpetual random shocks, where individuals sample population-specific strategy-payoff pairs and imitate the most successful behavior. For finite n-player games we prove that in the limit, as the perturbations tend to zero, only strategy-tuples in minimal sets closed under single better replies will be played with positive probability. If the strategy-tuples in one such minimal set have strictly higher payoffs than all outside strategy-tuples, then the strategy-tuples in this set will be played with probability one in the limit, provided the minimal set is a product set and the sample is sufficiently large.     

Law Information and Product Quality. Introductory Remarks by the Editors of the Special Issue

Journal of Consumer Policy -