International capital mobility in an era of globalisation: adding a political dimension to the 'Feldstein–Horioka Puzzle'

The debate about the scope of feasible policy-making in an era of globalisation continues to be set within the context of an assumption that national capital markets are now perfectly integrated at the international level. However, the empirical evidence on international capital mobility contradicts such an assumption. As a consequence, a significant puzzle remains. Why is it, in a world in which the observed pattern of capital flows is indicative of a far from globalised reality, that public policy continues to be constructed in line with more extreme variants of the globalisation hypothesis? I attempt to solve this puzzle by arguing that ideas about global capital market integration have an independent causal impact on political outcomes which extends beyond that which can be attributed to the extent of their actual integration

How Robust is Comparative Advantage?

This paper reviews the theoretical development of the concept of comparative advantage, starting with the two-good model of Ricardo and the two-good extension and reinterpretation by Haberler. In both, the presence of comparative advantage provides the scope for countries to gain from trade by specializing, and the pattern of that trade is explained by the pattern of comparative advantage. These strong results of the two-good model can be extended under certain circumstances to multiple goods and countries, but under more general assumptions such strong results no longer are assured. Instead one can derive much weaker results, usually in the form of correlations between comparative advantage and trade, and these weaker results hold in a much wider variety of circumstances. The paper examines those assumptions that permit such generalizations, but then also examines when those assumptions are most likely to fail, and what happens as a result.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/73670/1/j.1467-9396.2005.00552.x.pd

Economic liberalization and the antecedents of top management teams: evidence from Turkish 'big' business

There has been an increased interest in the last two decades in top management teams (TMTs) of business firms. Much of the research, however, has been US-based and concerned primarily with TMT effects on organizational outcomes. The present study aims to expand this literature by examining the antecedents of top team composition in the context of macro-level economic change in a late-industrializing country. The post-1980 trade and market reforms in Turkey provided the empirical setting. Drawing upon the literatures on TMT and chief executive characteristics together with punctuated equilibrium models of change and institutional theory, the article develops the argument that which firm-level factors affect which attributes of TMT formations varies across the early and late stages of economic liberalization. Results of the empirical investigation of 71 of the largest industrial firms in Turkey broadly supported the hypotheses derived from this premise. In the early stages of economic liberalization the average age and average organizational tenure of TMTs were related to the export orientation of firms, whereas in later stages, firm performance became a major predictor of these team attributes. Educational background characteristics of teams appeared to be under stronger institutional pressures, altering in different ways in the face of macro-level change

Empowering Latino parents to transform the education of their children

This article emphasizes the role of parental involvement in the college preparation of Latino elementary and secondary school students. Although literature shows that education is highly valued in Latino families, actual college enrollment rates for Latino youth are below average. This has been attributed to barriers including lack of financial resources, problems in communication with schools, and low familiarity with the college planning process. The American Dream Academy is a university outreach program that is designed to help Latino families overcome these barriers. We conducted a qualitative analysis of speeches that were prepared and delivered by parents at graduation ceremonies of the program from 2007 to 2009. Our analysis revealed six themes: facing challenges, envisioning success, understanding the school system, taking ownership, community raising a child, and creating a supportive home environment. The findings enrich existing literature and help understand the complex systems that are at play with parental involvement in Latino families

Susceptibility testing of Haemophilus influenzae— an international collaborative study in quality assessment

In order to compare the prevalence of antibiotic resistance in different geographical areas, it is necessary to ensure that agreement is achieved between laboratories on the assignment of strains to ‘susceptible' and ‘resistant' categories. An international quality assessment study, involving 15 laboratories in eight countries, was performed to investigate the standard of performance of the susceptibility testing of Haemophilus influenzae. One hundred and fifty strains of H. influenzae were distributed from the London Hospital Medical College (LHMC) to all laboratories who were asked to test the susceptibility of the strains to ampicillin, chloramphenicol, tetracycline, trimethoprim, cephalosporins and ciprofloxacin. Laboratories were also asked to provide the details of methodology to test the susceptibility. Significant discrepancy between the LHMC and the participating laboratories appeared in the detection of resistance to ampicillin (especially β-lactamase-negative strains resistant to ampicillin) as well as the assignment of susceptibility and resistance to chloramphenicol, tetracycline and trimethoprim. Often these reflected the use of inappropriate breakpoints which led to erroneous assignment of susceptibility. Other variations including disc content, medium and supplement, inoculum as well as failure to measure zone sizes properly also led to some repeating anomalie

Exploring the Galaxy's halo and very metal-weak thick disk with SkyMapper and Gaia DR2

In this work we combine spectroscopic information from the \textit{SkyMapper survey for Extremely Metal-Poor stars} and astrometry from Gaia DR2 to investigate the kinematics of a sample of 475 stars with a metallicity range of $-6.5 \leq \rm [Fe/H] \leq -2.05$ dex. Exploiting the action map, we identify 16 and 40 stars dynamically consistent with the \textit{Gaia Sausage} and \textit{Gaia Sequoia} accretion events, respectively. The most metal-poor of these candidates have metallicities of $\rm [Fe/H]=-3.31$ and $\rm [Fe/H]=-3.74$, respectively, helping to define the low-metallicity tail of the progenitors involved in the accretion events. We also find, consistent with other studies, that $\sim$21\% of the sample have orbits that remain confined to within 3~kpc of the Galactic plane, i.e., |Z$_{max}$| $\leq$ 3~kpc. Of particular interest is a sub-sample ($\sim$11\% of the total) of low |Z$_{max}$| stars with low eccentricities and prograde motions. The lowest metallicity of these stars has [Fe/H] = --4.30 and the sub-sample is best interpreted as the very low-metallicity tail of the metal-weak thick disk population. The low |Z$_{max}$|, low eccentricity stars with retrograde orbits are likely accreted, while the low |Z$_{max}$|, high eccentricity pro- and retrograde stars are plausibly associated with the \textit{Gaia Sausage} system. We find that a small fraction of our sample ($\sim$4\% of the total) is likely escaping from the Galaxy, and postulate that these stars have gained energy from gravitational interactions that occur when infalling dwarf galaxies are tidally disrupted.Comment: 23 pages, 15 figures, accepted for publication in MNRA