The term structure of interest rates and the Mexican economy

Can the yield spread, which has been found to predict with surprising accuracy the movement of key macroeconomic variables of developed countries, also predict such variables for a developing country experiencing economic turmoil? This article presents empirical results that suggest significant forecasting ability for the yield spread for segments of the Mexican economy during the 1995–1997 period of economic volatility. The actual and predicted variable changes sometimes conflict with those experienced by developed countries in part because of the unusually close relationship between the Mexican Treasury and the Banco de México. Consequently, analysts and policy officials may exploit the forecast potential of the yield spread, but only in the context of evolving institutional considerations.     

How to solve ten great problems for fund raisers

Ten problems unique to fund raisers are quite easy to solve, according to this author, once they are diagnosed. But the solutions require more than program changes. Attitude plays a paramount role in fund raising success.     

Cultural Change and Marketing

ABSTRACT

The results of this study suggest that marketing strategies need to be adjusted to changing cultures. Culture affects marketing decisions regarding product, price, promotion and place (the 4 Ps). Many marketing studies have been reported based on Hofstede's seminal work on national culture (1980). Marketing managers need to be cautious about assuming the validity of the Anglo cluster equating the cultures of the United States (U.S.) and Canada. We should recognize that national cultures are changing in the U.S., Canada and Mexico, as well as most other countries in the world. Our findings for a very recent sample of people attending executive and MBA programs would seem to apply to the upwardly-mobile business class. Contrary to the ubiquitous Hofstede data found in textbooks, we found no significant differences in Power Distance between the U.S., Mexico and Canada. Our findings regarding differences in Uncertainty Avoidance show that Mexico did not have a significantly higher mean than the U.S., but that the U.S. had a higher mean than Canada. The U.S. and Canada did not differ significantly on Individualism/Collectivism. Our results suggest that caution should be taken in automatically assuming cultural parity between the U.S. and Canada and that established cultural positions between the North American Free Trade Agreement (NAFTA) member nations may be changing.