Book review: Philosophy and the city: classic to contemporary writings

Book Review: Philosophy and the City: Classic to Contemporary Writings Sharon M. Meagher (Ed.), 2007 Albany, NY: State University of New York Press 309 pp. US$75.50 hardback; US$24.95 paperback ISBN 978 0 7914 7308 5 paperback; 978 0 7914 7307 8 hardback

How can economic and political liberalisation improve financial development in African countries?

The objective of this paper is to study the interactions between Economic liberalisation, Political liberalisation and Financial development in African countries. More specifically, we seek to establish the impact of Economic, Political and institutional openness on financial deepening. The empirical approach will be two-step procedure, first using a difference in difference method to show the various aspect of financial liberalisation on economic and political freedom while the second step will be using panel data techniques from period 1990 to 2005. The estimation results can be summarised as the following, first, Economic and financial liberalisation did account significantly for the financial development performance. While political stability show a positive overall effect on financial development, the association with Political freedom is consistent only after controlling the endogeneity of Political freedom on financial development. This result indicates that the transformation of the political and economic environment has improved the performance of the financial sector.

Testing the weak-form market efficiency and the day of the week effects of some African countries

The aims of this work are twofold. On the one hand, it aims to find evidence supporting the presence of the weak form efficiency of several emerging African stock markets by using both parametric as well as non parametric tests. The results indicate that none of the markets are characterised by random walks with the exception of the South African stock market. On the other hand, this study aims to detect the presence of the day of the week effects of these African stock markets. Results show the existence of day of the week effects, that is the typical negative Monday and Friday positive effects in several stock markets.

Financial development and income inequality: evidence from African countries

This paper present empirical evidence on how financial development is related to income distribution in a panel data set covering 22 African countries for the period between 1990 to 2004. A dynamic panel estimation technique (GMM) is employ and the findings indicate that income inequality decrease as economies develop their financial sector, which is consistent with the bulk of theoretical and empirical research. The result also confirm that educational attainment play a significant role in making income distribution more equal. We also find no evidence supporting the Greenwood-Jovanovic hypothesis of an inverted-U- shaped relationship between financial sector development and inequality.

Colour Sensation and Empathy: Arthur Schopenhauer's Negative Philosophy and Colour Theory as the Basis of an Elemental Colour Architecture

Arthur Schopenhauer proposed a theory of colour as a consequence of his first hand knowledge of J.W. Goethe’s experiments with color phenomena. This colour theory can be used to explore an interesting proposition Schopenhauer made about architecture. For Schopenhauer, architecture is about feelings, not about functions or forms, its purpose as an art is to reveal the principles of primitive forces, specifically gravity and rigidity. For Schopenhauer, architecture expresses these forces in the poised equilibrium of massive structures built out of stone. Schopenhauer was inclined to believed that architecture had already achieved its most perfect expression in Greek temple architecture. However; he did offer one possibility for architectural research: this was the suggestion that architecture was also concerned with the expression of light. It seems never to have occurred to Schopenhauer to use his colour theory to speculate about light in architecture. This paper explores some of the implications of Schopenhauer’s theory of colour for his aesthetics of architecture?