Developing the Market for Local Currency Bonds by Foreign Issuers: Lessons from Asia

This paper surveys the experience of countries in the East Asian region that have introduced local currency bonds by foreign issuers. The countries that are examined include Australia; Hong Kong, China; Japan; Republic of Korea; and Singapore. It is suggested that there are sound reasons for many countries to develop the market for foreign issuers. Benefits and potential issues are analyzed, development policies are reviewed, and concrete policy options are discussed for those countries that are currently considering opening their domestic markets to foreign issuers

Local Currency Financing--The Next Frontier for MDBs?

This paper surveys the issues involved in local currency financing by multilateral development banks (MDBs). While MDBs have traditionally provided financing in foreign currency to their borrowers, greater sensitivity by borrowers to potential currency mismatches, political decentralization, and the development of local capital markets have recently led MDBs to consider providing financing in local currency. While still small in comparison to MDBs' foreign currency financing, this paper argues that local currency financing will evolve into an increasingly important financing mode for MDBs. The paper addresses the key benefits and challenges, and provides an overview of the current policies and experience of the major MDBs in this rapidly growing area

Using Web Technologies and Mobile Phones for Social Development: W3C 1 Approach

Abstract: This paper presents the new initiative the World Wide Web Consortium (W3C) has launched in May 2008, Mobile Web for Social Development (MW4D). This new group explores how to use the potential of Information and Communication Technologies (ICTs) on Mobile phones as a solution to bridge the Digital Divide and provide minimal services (health, education, governance, business, etc.) to rural communities and underprivileged populations of Developing Countries. This paper presents in the first part the rationale behind the launch of the group and, in a second part, the vision and directions it is currently following, the expected schedule and its list of deliverables

Schulerfolg und ausserschulische Betreuung: Analyse von Wirkungszusammenhängen schulbezogener Sozialisationshilfen für italienische Migrantenkinder

"Im Rahmen eines nichtexperimentellen theoriegeleiteten Evaluationsdesigns wurden alle italienischen Grundschüler zweite bis fünfte Klasse), die im Schuljahr 1983/84 in den Regierungsbezirken Oberbayern, Niederbayern und Schwaben die vom italienischen Schulkomitee getragenen Fördermaßnahmen (Doposcuola) besucht haben und italienische Grundschüler derselben Region, Alters- und Klassenstufe, die in dem Schuljahr keine Doposcuola besuchten, befragt. Die Lerneffekte der schulbezogenen Sozialisationshilfe auf die sprachlichen (italienisch, deutsch) und die mathematisch-logischen Schülerfähigkeiten wurden durch Tests am Anfang und am Ende des Schuljahrs gemessen. Darüber hinaus wurden alle Eltern und Förderlehrer dieser Schüler befragt. Die Kernfrage, wie groß der Einfluß einer derartigen Sozialisationshilfe auf die Fähigkeiten der Kinder ist, wird durch eine Pfadanalyse untersucht. Danach erweist sich die Doposcuola als bedeutsame Einflußgröße sowohl auf die mathematisch-logischen als auch auf die sprachlichen Schülerfähigkeiten. Das Alter der Kinder wirkt positiv auf die Italienisch- und negativ auf die Mathematik-Kenntnisse ein. Die zweisprachigen Klassen sind ein wesentlicher Bedingungsfaktor für die schlechten Deutsch- und Mathematik-Kenntnisse der italienischen Grundschüler. Das kognitive Begabungspotential beeinflußt vor allem die mathematisch-logischen, aber auch im geringeren Umfang die sprachlichen Schülerfähigkeiten. Alle anderen untersuchten Faktoren haben demgegenüber einen geringeren Einfluß. Insgesamt zeigen die Ergebnisse, daß der Besuch einer schulbezogenen Sozialisationshilfe einen deutlichen positiven Effekt auf die Schülerfähigkeiten hat und damit die Voraussetzungen schaffen kann für einen individuellen Schulerfolg." (Autorenreferat)"Within a non-experimental, theoretical evaluative design, all Italien pupils at elementary schools (classes 2-5) who attended the special school assistance ('Doposcuola') organized by the Italian Schoolcomitee in the govermental districts of 'Oberbayern', 'Niederbayern' and 'Schwaben' during 1983-84, and Italian pupils of the same year, age, and class level who did not attend the 'Doposcuola', were interviewed. The learning effects of supportive measures on language (Italian, German) and mathematical and logical abilities of the pupils were measured by tests in the beginning and at the end of the school year. Furthermore, all the parents and the school-teachers of the pupils were interviewed. The prime question of the influence of such a type of special school assistance on the abilities of the children was analysed by path analysis. The 'Doposcuola' was shown to be an important influence on the mathematical and logical as well as on the language abilities of the pupils. The age of the children has a positive influence on mathematical the Habian and a negative one on the knowledge. The bilingual classes are largely responsible for the poor knowledge in German and mathematics of the Italian pupils. The cognitive intelligence level primarily influences mathematical and logical abilities, to some extent also the language skills. All other factors had comparatively little influence. All in all the results show that the attendance of such a special school assistance has a definitively positive influence on skills and abilities of the pupils and that it creates the preconditions for individual success at school." (author's abstract

In Digital We Trust: The Computerisation of Retail Finance in Western Europe and North America

This paper tells of the contents of a forthcoming volume, which offers a new and original approach to the study of technological change in retail finance. Most business history studies of businesses for the last 50 years note the emergence of computers and computer applications, but they do not analyze their role in shaping business practices and organizations. In this book we look directly at the processes of mechanisation and computerisation of retail financial services, throughout the 20th Century while articulating an international comparison. We bring together young, well established and independent historians, who come from different traditions (that is, economic, business, accounting, geography and political histories as well as historians of technology). Contributors look at stand alone and comparative case studies from different parts of the world (namely Britain, Denmark, France, Germany, Netherlands, Spain, Sweden, Mexico and the USA). The outcome is a rich survey of the broad literature examining different aspects of the technological and business histories of retail financial markets from a variety of perspectives

Developing Asian Local Currency Bond Markets: Why and How?

This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond markets. The analysis demonstrates that Asian local currency bond markets made substantial gains as a region going into the current global financial crisis. However, we argue that the current financial crisis requires a reassessment of the merits of promoting local currency bond markets and the gains that have been made to date. While most of the initial motivations for encouraging the development of domestic local currency bond markets appear to remain valid, there are some exceptions. However, the degree to which success in the development of these markets will be sustained remains unknown until global financial markets regain tranquility and official interventions into these markets are removed

Aggregate Data for the Constituencies of the Federal Republic (1972-1976) in the Organization of the Federal Parliament Election 1972

Economic, sociological and election political aggregate data for the Federal Republic of 1972 and 1976 at the level of the constituencies Topics: The content presents primarily a continuation of the data of ZA Study No. 0950.Ökonomische, soziologische und wahlpolitische Aggregatdaten für die Bundesrepublik von 1972 und 1976 auf der Ebene der Wahlkreise Themen: Der Inhalt stellt hauptsächlich eine Fortschreibung der Daten der ZA-Studien-Nr. 0950 dar

Aggregate Data for the Constituencies of the Federal Republic (1949-1969) in the Organization of the Federal Parliament Election 1965

Socio-economic and election political aggregate data for the Federal Republic (1949-1969) at the level of the constituencies. Topics: Area in square kilometers; residential population; male, German, religious residential population; residential population according to school degrees; employed, organized according to areas of business; proportion of self-employed; proportion of civil servants, workers and employees; places of work; employed women; eligible voters and voters in the Federal Parliament elections 1949-1969; valid and invalid first votes or second votes; proportion of first and second votes for individual parties in Federal Parliament elections; proportion of foreigners in residential population; age structure of residential population.Sozioökonomische und wahlpolitische Aggregatdaten für die Bundesrepublik (1949-1969) auf der Ebene der Wahlkreise. Themen: Fläche in qkm; Wohnbevölkerung; männliche, deutsche, religiöse Wohnbevölkerung; Wohnbevölkerung nach Schulabschlüssen; Erwerbstätige, aufgegliedert nach Branchen; Selbständigenanteil; Beamten-, Arbeiter- und Angestelltenanteil; Arbeitsstätten; beschäftigte Frauen; Wahlberechtigte und Wähler bei den Bundestagswahlen 1949-1969; gültige und ungültige Erststimmen bzw. Zweitstimmen; Erst- und Zweitstimmenanteil der einzelnen Parteien bei den Bundestagswahlen; Ausländeranteil an der Wohnbevölkerung; Altersstruktur der Wohnbevölkerung