Three essays on banks trading activities

With a fair share of the blame for the subprime crisis pointing to banks' extensive involvement in trading, this thesis examines three closely related issues. The first essay shows that regulatory capital arbitrage, insolvency risk, and non-interest income are all important motivations for banks to become involved in trading. The second essay support the widely held perception that trading activities such as off-balance sheet derivatives, securitization, and assets sales all are making banks more opaque. With banks' business model changing from ''originate and hold'' to ''originate, repackage, and sell'', the last essay show that trading channel exist and it has weakened the effectiveness of monetary policy transmission through banks' capital and lending channel.

Little theory, big plans : social capital and community building in Aboriginal Australia

The discourse surrounding recent Aboriginal social policy regularly refers to pragmatism and partnership. In a simpler world, we might call this ‘getting things done with Aboriginal people.’ To that extent, the discourse draws on an indisputable common sense, and it is not surprising that a variety of political agendas can be packaged within such language. While many things need to be done, the quantity and particularly the quality of social networks required to take effective policy into effective practice is something we ought to consider more carefully. This is where the concept of social capital could be useful, since it focuses attention on the social resources required to construct social policy, as well as the social resources that could be produced by effective social policy. Partnerships and pragmatism are therefore related at a most fundamental level in terms of social policy. We question whether this important conceptual bedrock has been fully explored. Hence we review here some recent ‘big plans’ for Aboriginal Australia, and ask whether the size of the theory matches the size of the plans.

Endogenous mortality, human capital and economic growth

We consider growth and welfare effects of lifetime-uncertainty in an economy with human capital-led endogenous growth. We argue that lifetime uncertainty reduces private incentives to invest in both physical and human capital. Using an overlapping generations framework with finite-lived households we analyze the relevance of government expenditure on health and education to counter such growth-reducing forces. We focus on three different models that differ with respect to the mode of financing of education: (i) both private and public spending, (ii) only public spending, and (iii) only private spending. Results show that models (i) and (iii) outperform model (ii) with respect to long-term growth rates of per capita income, welfare levels and other important macroeconomic indicators. Theoretical predictions of model rankings for these macroeconomic indicators are also supported by observed stylized facts.

Physical capital and its consequences for fitness workers in Queensland

Sexual, social and employment success have been linked to the physical capital drawn from having aesthetic attributes of the socially idealised body. In certain workplace settings, such as health and fitness centres, the body becomes a mainstream commodity with physical capital affording the fitness worker a high degree of distinction and adoration as well as employment opportunities. The employment relationship is shaped by 'lookism', with both the employer and employee taking advantage of the fitness worker's idealised form. The worker's physical capital provides a walking billboard advertising the employer's products and services, while exposure to comparison and adoration provides a heightened sense of self-worth, distinction and celebrity. Fitness workers appear to be prepared to ignore poor employment conditions or trade-off standard entitlements for the alternative rewards that their physical capital brings.

China's new Creative Clusters : Governance, Human Capital and Investment

Recognising that creativity is a major driving force in the post-industrial economy, the Chinese government has recently established a range of "creative clusters" – industrial parks devoted to media industries, and arts districts – in order to promote the development of the creative industries. This book examines these new creative clusters, outlining their nature and purpose, and assessing their effectiveness. Drawing on case studies of a range of cluster models, and comparing them with international examples, the book demonstrates that creativity, both in China and internationally, is in fact a process of fitting new ideas to existing patterns, models and formats. It shows how large and exceptionally impressive creative clusters have been successfully established, but raises the important questions of whether profit or culture is the driving force, and of whether the bringing together of independent-minded, creative people, entrepreneurial businessmen, preferential policies and foreign investment may in time lead to unintended changes in social and political attitudes in China, including a weakening of state bureaucratic power. An important contribution to the existing literature on the subject, this book will be of great interest to scholars of urban studies, cultural geography, cultural economics and Asian studies.

Heritage language for young Chinese Australian adults in urban Australia : Capital and habitus in fields

Studies of Heritage Language learners‟ commitment and their ethnic identity are increasing, yet there is scant sociological research addressing topics relating to Chinese Heritage Language learners. Drawing on Bourdieu‟s signature notions of „habitus‟, „capital‟, and „field‟, this mixed methods study investigates two problems: (1) impacts of “Chineseness” and accessible resources on Chinese Heritage Language proficiency of young Chinese Australian adults in urban Australia; and (2) the meanings of Chinese Heritage Language to these young people.

Social capital and neighbourhood centres in Queensland : qualitative case studies of three neighbourhood centres

This research paper examines the potential of neighbourhood centres to generate and enhance social capital through their programs, activities, membership associations and community engagement. Social capital is a complex concept involving elements of norms, networks, and trust and is generally seen as enhancing community cohesion and the ability to attain common goals (outlined in more detail in Section 3). The aim of this research project is to describe the nature of social capital formation in terms of development and change in norms, networks and trust within the context of the operations of neighbourhood centres in three Queensland locations (i.e., Sherwood, Kingston/Slacks Creek, and Maleny). The study was prompted by surprisingly little research into how neighbourhood centres and their clients contribute to the development of social capital. Considering the large volume of research on the role of community organisations in building social capital, it is remarkable that perhaps the most obvious organisation with 'social capitalist' intentions has received so little attention (apart from Bullen and Onyx, 2005). Indeed, ostensibly, neighbourhood centres are all about social capital.

Structured contract strategies for capital and operations expenditure projects in the oil and gas industry

This project was a step forward in developing a 'descriptive theory' of contracting in the oil and gas industry that reflects the operating environment in which the project manager operates. This study investigates the existing processes and methods used in establishing contracts which are very often prescriptive, and not always appropriate or optimal for a given situation. This study contributes to contracting effectiveness or optimal contracting in the oil and gas industry.