The Future of Work In Cities

The latest report in our City of the Future series examines societal shifts and advancements in technology that are impacting the rapidly changing American workforce. The report outlines solutions to help city leaders plan for the fast-approaching future, while forecasting the economic viability of two distinct sectors – retail and office administration – in which a quarter of Americans are currently employed

Macroeconomic Consequences of Ageing and Directed Technological Change. BertelsmannStiftung Studies

Macroeconomic Consequences of Ageing and Directed Technological Change Demographic projections foresee a pronounced population ageing process in the coming decades. The associated changes in quantity and quality of labour will have an impact on the long-term economic outlook. This study discusses economic implications of current demographic projections for a set of large industrialized economies, which include the largest member states of the EU, the USA and Japan, as well as Austria as an example of a small open economy. The focus of the study is the interplay between demographic and technological trends. The study extends the methodology of the European Commission’s Ageing Report by considering the effects of size and composition of the working-age population on the productivity growth and productivity effect of the ICT-intensity as a measure of directed technological change

Investing in Curation: A Shared Path to Sustainability

No abstract available

Sharemarket performance and the New Zealand dollar : inside the relationships : a thesis presented in partial fulfilment of the requirements for the degree of a Master of Applied Economics, Massey University, Palmerston North, New Zealand

New Zealand is often described as a small open economy with substantial foreign ownership of its assets. The economy is therefore sensitive to exchange rate movements and the sharemarket being the barometer of economic activities should be no exception. Further, exchange rates may also be endogenous to sharemarket fluctuations. This thesis analyses the relationship between the value of the New Zealand dollar vis a vis the currencies of its five largest trading partners and the New Zealand sharemarket performance between 1999 and mid-2005 using the vector autoregression (VAR) and vector error correction model (VECM) approaches. Findings from the research suggest the New Zealand sharemarket is robust to currency fluctuations in both the short- and long- term. The only exception to this is the New Zealand dollar-Australian dollar exchange rate (NZD/AUD), which has a negative short term effect on the sharemarket. The NZD/AUD is also the only exchange rate to depreciate following a positive shock to the sharemarket

The efficient market hypothesis: Evidence from ten African stock markets

The paper investigates the weak-form efficiency of ten African stock markets using the runs test methodology for serial dependency. Returns are calculated using the adjusted trade-to-trade approach. Serious thin-trading was observed on all markets, and more so for Namibia and Botswana, the two markets with significant dual-listed stocks on the JSE. In many of the markets studied, a significant number of stocks rejected the random walk. Only three markets, Namibia, Kenya and Zimbabwe, were found to be relatively weak form efficient. The result for Namibia is attributed to its correlation with the JSE. Kenya and Zimbabwe are much older than most of the other markets studied. All the stocks in the Mauritian sample rejected the random walk at the 1% level of significance using the runs test and is thus said to be weak form inefficient. The same conclusion is reached for Ghana, the BRVM, Egypt and Botswana. Thus the possibility of profiting by trading on historical prices could not be entirely ruled out.Market efficiency, African stock markets, random walk, thin trading

National Industrialization Strategies and Firm Level IR/HR Practices: Case Studies in Malaysia and Philippines

[Excerpt] Any economy is characterized by several different patterns of industrial relations (IR)and human resource (HR) practices at the level of the workplace. Often, the patterns of IR/HR practices of firms differ based on the nature of the industry, the nature of technology and production methods used, the specific economic circumstances facing firms, and in some cases the IR/HR philosophy of key individuals. Patterns of IR/HR practices also differ based on economic sectors, with IR/HR practices in the service sector showing differences with patterns in the manufacturing sector

Production Technology and Competitiveness In the Hungarian Manufacturing Industry

Following the big transformations of the 1990s, enterprise structure and technological level seem to have become stabilised in Hungary. Under these circumstances it is especially interesting to identify the elements responsible for competitiveness in general, and the role technology plays in development in particular, according to managers experienced in production and marketing. This empirical study – based on in-depth interviews and field research – summarises characteristics of the technological level in the sectors examined, role of technology and labour in production, effects of foreign direct investment, relations between competition and firm-level factors determining competitiveness, and concludes by summing up those most frequently mentioned proposals that should be incorporated into economic policy according to managers. Main findings indicate that more qualified, more intensive and cheaper labour can be substituted for high technology. The competitiveness of an enterprise is not determined by technology alone, but rather by a combination of technology, the parameters of available labour and the costs of investment increasing productivity. The insufficiency of inter-company relations, together with a shortage of available assets necessary for investment constitute the major threat undermining the competitiveness of enterprises in present-day Hungary

A framework of justification criteria for advanced manufacturing technology implementation in small and medium enterprises

Today in order to stay in businesses and prosper, Small and Medium Enterprises (SMEs) are seeking higher electiveness and competitiveness across the entire cycle of marketing, product design, manufacture, test and sales. SMEs play an increasingly important role in all aspects of competitiveness: both products and production techniques, but also management methods, the organization of the firm and human resources training. One of the ways by which SMEs can achieve a competitive advantage in manufacturing is through the implementation of Advanced Manufacturing Technology (AMT). An increasing number of them have chosen and are choosing various levels of AMT as the solution. Realizing the importance of SMEs, an attempt has been made in this paper to review the application of AMT in SMEs. Also, a framework has been offered for the implementation of AMT in SMEs. Finally, a summary of findings and conclusions are presented

Energy Subsidies in the Arab World

The policy of maintaining tight control of domestic energy prices has characterized the political and economic environment in most Arab countries, together with many other parts of the world, for decades. The objectives behind such a policy range from overall welfare objectives such as expanding energy access and protecting poor households’ incomes; to economic development objectives such as fostering industrial growth and smoothing domestic consumption; and to politi- cal considerations, including the distribution of oil and natural gas rents in resource-rich countries. While energy subsidies may be seen as achieving some of a country’s objectives, this paper argues they are a costly and inefficient way of doing so. Energy subsidies distort price signals, with serious implications on efficiency and the optimal allocation of resources. Energy subsidies also tend to be regressive, with high-income households and industries benefiting proportionately most from low energy prices. However, despite such adverse effects, energy subsidies constitute an important social safety net for the poor in many parts of the Arab world, and any attempts to reduce or eliminate them in the absence of compensatory programmes would lead to a decline in households’ welfare and erode the competitiveness of certain industries. Therefore, a critical factor for successful reforms will be the ability of governments to compensate their populations for the reduction or removal of subsidies through carefully designed mitigation measures that protect the poorest and assist the economy in its long-term adaptation. We argue that a reform of energy pric- ing mechanisms in the Arab world may be seen as beneficial from more than one perspective, and as offering potential paths for reform. Nevertheless, this paper recognizes that the current political climate in the region will render the reform of domestic energy prices difficult in practice, such that reform may indeed be a medium- to long-term endeavour

Impact of information technology in trade facilitation on small and medium-sized enterprises in Bangladesh

This paper focuses specifically on one particular aspect of trade facilitation in the context of Bangladesh, i.e., impact on SMEs of IT in trade facilitation. It is hoped that the policy recommendations offered in this paper will be useful in furthering the cause of SME internationalization in Bangladesh.Trade Facilitation, Bangladesh, SMEs, Information Technology