Foreign investment and industrial transformation: A Brazilian case study

The causes and consequences of ‘denationalization’, that is, the shift from local to foreign ownership, are examined for the case of the Brazilian pharmaceutical industry. The negative consequences that have been attributed to denationalization by 'dependency theory' are substantiated, but only in part. It is argued that the most interesting contrasts are not between the behavior of foreign and local firms in the industry but between the private sector and a recently created state enterprise, and that future analysis of dependent capitalist development should focus on the interaction of the state and foreign capital.     

An example of multiple minima in a Cochrane-Orcutt procedure with multiple autocorrelation

We provide an example, based on an equation of the Canadian-US exchange rate, of multiple minima in a generalized Cochrane-Orcutt procedure. Our experiments suggest the need for search procedures in order to correctly identify autocorrelation structures.     

Impact of league restructuring on team sport attendances: the case of rugby league

An econometric analysis of attendances at Rugby Footbal League matches, in England, over the period 1966–1990 is presented. The major finding is that the move from one to two leagues, in 1973, had a substantial impact on attendances. Teams in the upper league experienced greater attendances ceteris paribuswhilst those in the lower league had reduced attendances.     

Technical efficiency of sawnwood production in Ondo and Osun states,Nigeria

This study quantified technical efficiency and the determinants of observed technical inefficiency of sawmills in Nigeria. A two-stage sampling technique was used to select 170 sawmillers in Ondo and Osun states, while questionnaire was used to obtain data from them between October and December 2003. The stochastic frontier approach was used to estimate technical efficiency of both small- and medium-scale sawmills, while the ordinary least square (OLS) regression analysis was used to estimate the determinants of the observed technical inefficiency. Empirical results indicate that medium-scale sawmillers are more efficient than their small-scale counterparts. However, both groups of sawmillers in Nigeria have potentials to expand their output.     

LABOR TURNOVER IN THE USA AND JAPAN: A TALE OF TWO COUNTRIES

Abstract. The labor turnover rate in Japan is less than half the US level. A small-scale survey of companies that operate in both Japan and the USA was conducted to examine reasons for the discrepancy. The main findings are that Japanese human resource policies, including steep seniority-earnings profiles, extensive fringe benefits, participatory management, and a reluctance to recruit experienced workers from other firms, contribute to the lower Japanese turnover rate. Additionally, workers of Japanese descent in the USA have a somewhat lower labor turnover rate than other Americans, suggesting some role for cultural differences.