The causal relationship between private and public investment in Zimbabwe

Aims: The study examines the relationship between private and public investment in Zimbabwe utilizing yearly time series data for the period 1967 to 2004. Study Design: Time Series Study. Place and Duration of Study: Zimbabwe, May 2011 to July 2011. Methodology: Emphasis is placed on the direction of causality and the long run and short run effect of the two types of investment on each other. The paper constructs empirical models for both private and public investment, based on the flexible accelerator theory. Private investment is found to be cointegrated with public investment. A cointergration and VEC models are employed to assess the long and short run relationship existing between public and private investment. Conclusion: The relationship between private and public investment is found to be insignificant and the direction of causality found to be unidirectional. The results support the notion that private investment precedes public investment.

Who gets to play? Investigating equity in musical instrument instruction in Scottish primary schools

There is a widely held view that learning to play a musical instrument is a valuable experience for all children in terms of their personal growth and development. Although there is no statutory obligation for instrumental music provision in Scottish primary schools, there are well-established Instrumental Music Services in Local Education Authorities that have been developed to provide this facility for pupils. This article presents the findings of a study that was aimed at investigating the extent to which the opportunity to undertake instrumental instruction in Scottish primary schools is equitable. The study employed a mixed-methods approach. Data were gathered from 21 Scottish primary schools, a total pupil population of 5122 pupils of whom 323 pupils were receiving instrumental instruction. The analysis involved an investigation of the academic profile of this group, the representation of children with additional support needs (ASN) and the nature of their ASN. A qualitative analysis of policy and guideline documents and interviews with Heads of Instrumental Services, headteachers and instrumental instructors served to explain and illuminate the quantitative data. The findings showed that particular groups of children with ASN were significantly under-represented and offer explanations of the processes by which this occurs.

Private school quality in Italy

Private school enrolment may lead to worse subsequent performance in further education or in the labour market. If students differ in their ability not only to pay but to take advantage of educational opportunities (“talent” for short), private schools attract a worse pool of students when publicly funded schools are better suited to foster progress by more talented students. In the data we analyze, the impact of observable talent proxies on educational and labour market outcomes is indeed more positive for students who (endogenously) choose to attend public schools than for those who choose to pay for private education.

Public Interests, Private Disputes: Investment Arbitration and the Public Good

This paper seeks to investigate the bases for resistance to arbitration in general -and investor arbitration in particular- focusing on the way in which arbitral tribunals deal with notions of public interest and the public good. The paper hypothesises that while courts have within their terms of reference the capacity to consider notions of public interest, arbitral tribunals do not. It is this core difference in the scope of decision making between the two bodies that could render privately organised dispute resolution unsuitable for disputes that have public aspects, like investor-state disputes. The paper discusses the meaning of public interest and the public good as found in the literature. It then proceeds to consider how tribunals in the investment field have dealt with these concepts. This leads to a conclusion urging not abandonment of arbitration as a component of dispute resolution, but caution. It is argued that unchecked growth in private dispute resolution can threaten perceptions of legitimacy and democratic accountability. The paper adopts a socio-legal methodology in considering the effect of legal mechanisms on social and political phenomena. It is also informed by a law and economics methodology in addressing impacts of dispute resolution mechanisms on economic efficiency. The contribution of the paper rests on theorising motivations for resistance to private dispute resolution, a topical issue in light of the TTIP debate.

Global nation product equity depending on a level of cultural diffusion

Purpose This paper aims to propose the global nation product equity model (GNPE) to measure global consumers’ equity of a product that a country produces, especially a nation’s cultural products (i.e. culducts). The model also examines the significant difference of GNPE depending on a cultural diffusion level. GNPE model proposes that depending on the level of people’s recognition/acceptance/preference of a culture from another country (i.e. cultural diffusion level), the equity of a product from that country could be different in different countries. As variables that affect GNPE, global nation product equity in general, global nation product equity of a product category and nation cultural equity are included in the model. Design/methodology/approach To test the model, this study developed Hallyu (Korean cultural diffusion)-related Korean culducts and measured global consumers’ equity for the Korean culducts. In all, 351 surveys were collected from China, France, England and the USA. Findings The results show the significantly different equities and relationships among equities depending on the level of Hallyu diffusion in each country. Therefore, Korea is suggested to focus on different equities in different countries. Originality/value This research proposed a new model that extends the previous brand equity models to non-branded products (i.e. cultural products). This model proposed new variables that affect equity of a product mentioned above and suggests different equities to improve in different countries depending on their level of cultural diffusion. Also, this cross-cultural study suggests a direction of culduct design, distribution and promotion strategies in the global market.