Domestic Capital Market Reform and Access to Global Finance: Making Markets Work

Contrary to the predictions of standard economic theory, capital market liberalization has been a mixed blessing for many countries. Liberalization of debt inflows exposes economies to the risk of crises stemming from sudden changes in investor sentiment. Equity market liberalizations, on the other hand, have promoted growth in almost every liberalizing country. Yet equity market liberalizations have not had as strong an effect as might be expected. To convince outsiders to invest, countries must put in place laws and supporting institutions to protect the rights of minority shareholders. Countries with such protections tend to have larger, more efficient, and more stable stock markets than those that do not.

Capital Market Integration and Wages

For three years after the typical developing country opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of seven. No such increase occurs in a control group of developing countries. The temporary increase in the growth rate of the real wage drives up the level of average annual compensation for each worker in the sample by 609 US dollars—an increase equal to 25 percent of their annual pre-liberalization salary. The increase in the growth rate of labor productivity in the aftermath of liberalization exceeds the increase in the growth rate of the real wage so that the increase in workers’ incomes actually coincides with a rise in manufacturing sector profitability. Overall, the results suggest that trade in capital may have a larger impact on wages than trade in goods.Developing countries, Wages, Labor Productivity, Captial Market

Finished Genome Sequences of Xanthomonas fragariae, the Cause of Bacterial Angular Leaf Spot of Strawberry.

Xanthomonas fragariae is a foliar pathogen of strawberry that is of significant concern to nursery production of strawberry transplants and field production of strawberry fruit. Long-read sequencing was employed to generate finished genomes for two isolates (each with one chromosome and two plasmids) from symptomatic plants in northern California

Training young people through a school/enterprise partnership: a longitudinal study

This paper reports a longitudinal study of 58 students who undertook an engineering traineeship concurrent with their final two years of secondary school. The student experience was planned as a partnership arrangement between a manufacturing enterprise, a secondary school, and a post-secondary technical education institution. Results are discussed in terms of completion of studies, employment and career pathways, employment outcomes, and post-traineeship employment destinations. Both the quantitative and qualitative data indicate that participants have benefited significantly in each area investigated. The significance of the program in developing propositional, procedural, and dispositional workplace knowledge is also discussed.<br /

A Modified Method for Reading Midges (Diptera: Chironomidae)

A small scale rearing chamber that provides a continuous source of different life stages of Glyptotendipes barbipes Staeger for bioassay studies was developed. A modified glass aquarium containing a substrate of shredded paper hand towels and artificial medium was employed. The amount of protein fed to the larvae can be used to trigger peak emergence, oviposition, and the rate of maturation. Fifty-three egg masses were sampled and 68% were fertile. Ninety-five percent of these hatched and 85% emerged as adults