Post-crisis regulatory reforms and bank performance: lessons from Asia

Based on a large dataset from eight Asian economies, we test the impact of post-crisis regulatory reforms on the performance of depository institutions in countries at different levels of financial development. We allow for technological heterogeneity and estimate a set of country-level stochastic cost frontiers followed by a deterministic bootstrapped meta-frontier to evaluate cost efficiency and cost technology. Our results support the view that liberalization policies have a positive impact on bank performance, while the reverse is true for prudential regulation policies. The removal of activities restrictions, bank privatization and foreign bank entry have a positive and significant impact on technological progress and cost efficiency. In contrast, prudential policies, which aim to protect the banking sector from excessive risk-taking, tend to adversely affect banks cost efficiency but not cost technology.

Sustainable development, rolled-out neoliberalism and sustainable communities

Recent contributions by geographers on the relationships between states and citizens have documented the rise of rolled-out neoliberalism. Development agendas are, it is argued, increasingly dominated by the principles of market-driven reforms, social inequality, and a drive towards enhancing the economic competitiveness of the supply side of the economy. However, at the same time, a parallel set of discourses has emerged in the development literature which argues that it is principles of sustainable development that have, in practice, become dominant. The emphasis is, instead, on democratic empowerment, environmental conservation, and social justice. This paper examines the relationships between these ostensibly very different interpretations of contemporary development with an assessment of one of the Labour government's most ambitious planning agendas-the publication in February 2003 of the document Sustainable Communities: Building for the Future. The proposals are promoted as a "step change" in the planning system with a new emphasis on tackling shortages of housing in the South East and reviving the economy of the Thames Gateway area. The paper assesses the different ways in which such programmes can be interpreted and argues that contemporary development practices in countries such as Britain are constituted by a hybridity of approaches and rationalities and cannot be reduced to simple characterisations of rolled-out neoliberalism or sustainable development.

Personal status laws in Morocco and Tunisia: A comparative exploration of the possibilities for equality-enhancing reform in Bangladesh

This paper focuses on successful reform strategies invoked in parts of the Muslim world to address issues of gender inequality in the context of Islamic personal law. It traces the development of personal status laws in Tunisia and Morocco, exploring the models they offer in initiating equality-enhancing reforms in Bangladesh, where a secular and equality-based reform approach conflicts with Islamic-based conservatism. Recent landmark family law reforms in Morocco show the possibility of achieving ‘women-friendly’ reforms within an Islamic legal framework. Moreover, the Tunisian Personal Status Code, with its successive reforms, shows that a gender equality-based model of personal law can be successfully integrated into the Muslim way of life. This study examines the response of Muslim societies to equality-based reforms and differences in approach in initiating them. The paper maps these sometimes competing approaches, locating them within contemporary feminist debates related to gender equality in the East and West.

Exploring the determinants of CAP reform: A Delphi survey of key decision-makers

A panel of key decision-makers, closely involved in the 1992, 1999 and 2003 CAP reforms, participated in a Delphi survey designed to ascertain what had prompted the European Commission to launch these reform initiatives and what factors were relevant in determining the reform packages subsequently decided by the Council.

The politics of CAP reform: Trade negotiations, institutional settings and blame avoidance

In this article we argue that the conclusion of the GATT Uruguay Round Agreement on Agriculture and the subsequent role of the WTO has changed the international context of CAP policy-making. However, comparing the three latest CAP reforms, we demonstrate that pressures on the CAP arising from international trade negotiations cannot alone account for the way in which the EU responds in terms of CAP reform. The institutional setting within which the reform package was determined also played a crucial role. Contrary to conventional wisdom, the CoAM seems to be a more conducive setting than the European Council for undertaking substantial reform of the CAP. We suggest that the choice of institutional setting is influenced by the desire of farm ministers and of heads of state or government to avoid blame for unpopular decisions. When CAP reform is an integral part of a broader package, farm ministers pass the final decision to the European Council and when CAP reform is defined as a separate issue the European Council avoids involvement.

Curbing agricultural exceptionalism: The EU's response to external challenge

From 1948 to 1994, the agricultural sector was afforded special treatment in the GATT. We analyse the extent to which this agricultural exceptionalism was curbed as a result of the GATT Uruguay Round Agreement on Agriculture, discuss why it was curbed and finally explore the implication of this for EU policy making. We argue that, in particular, two major changes in GATT institutions brought about restrictions on agricultural exceptionalism. First, the Uruguay Round was a 'single undertaking' in which progress on other dossiers was contingent upon an outcome on agriculture. The EU had keenly supported this new decision rule in the GATT. Within the EU this led to the MacSharry reforms of the Common Agricultural Policy (CAP) in 1992, paving the way for a trade agreement on agriculture within the GATT. Second, under the new quasi-judicial dispute settlement procedure, countries are expected to bring their policies into conformity with WTO rules or face retaliatory trade sanctions. This has brought about a greater willingness on the part of the EU to submit its farm policy to WTO disciplines.

Cost-sharing of agricultural technology transfer in Nigeria: perceptions of farmers and extension professionals

Cost-sharing, which involves government-farmer partnership in the funding of agricultural extension service, is one of the reforms aimed at achieving sustainable funding for extension systems. This study examined the perceptions of farmers and extension professionals on this reform agenda in Nigeria. The study was carried out in six geopolitical zones of Nigeria. A multi-stage random sampling technique was applied in the selection of respondents. A sample size of 268 farmers and 272 Agricultural Development Programme (ADP) extension professionals participated in the study. Both descriptive and inferential statistics were used in analysing the data generated from this research. The results show that majority of farmers (80.6%) and extension professionals (85.7%) had favourable perceptions towards cost-sharing. Furthermore, the overall difference in their perceptions was not significant (t =0.03). The study concludes that the strong favourable perception held by the respondents is a pointer towards acceptance of the reform. It therefore recommends that government, extension administrators and policymakers should design and formulate effective strategies and regulations for the introduction and use of cost-sharing as an alternative approach to financing agricultural technology transfer in Nigeria.

Nature protection in Greece: an appraisal of the factors shaping integrative conservation and policy effectiveness

The proliferation of designated areas following the implementation of Natura 2000 in Greece has initiated changes in the protected area design and conservation policy making aiming at delivering action for biodiversity and integrative planning on a wider landscape. Following the sustainability concept, an integrative approach cannot realistically take place simply by extending the protected area and designations. The paper addresses public involvement and inter-sectoral coordination as major procedural elements of integrative management and evaluates the nature and strength of their negative or positive influences on the fulfillment of an integrative vision of nature conservation. A review of the history of protected areas and administration developments in Greece provide useful input in the research. The analysis has shown that the selected network of Natura 2000 sites has been superimposed upon the existing system and resulted in duplication of administrative effort and related legislation. As a result the overall picture of protected areas in the country appears complex, confusing and fragmented. Major failures to integrated conservation perspective can be traced to structural causes rooted in politico-economic power structures of mainstream policy and in a rather limited political commitment to conservation. It is concluded that greater realisation. of integrated conservation in Greece necessitates policy reforms related mainly to sectoral legal frameworks to promote environmentalism as well as an increased effort by the managing authorities to facilitate a broader framework of public dialogue and give local communities incentives to sustainably benefit from protected areas. (C) 2006 Elsevier Ltd. All rights reserved.

Developments in the Doha Round and WTO dispute settlement: some implications for EU agricultural policy

Progress in the Doha Round is assessed against the changes to the common agricultural policy (CAP) brought about by the Fischler reforms of 2003-2004, and that proposed for sugar. An elimination of export subsidies could place EU exports of processed foods at a competitive disadvantage because of high sugar and milk prices. Provided the single payment scheme falls within the green box, the likely new limits on domestic support should not be problematic for the post-Fischler CAP. However, an ambitious market access package could open up EU markets and bring pressure for further reform. If there is no Doha agreement, existing provisions will continue to apply, but without the protection of the Peace Clause; and increased litigation is likely. Further CAP reform is to be expected.

The 2003 CAP Reform: Accommodating WTO Pressures

In 2003, the EU agreed a major reform of the common agricultural policy (CAP). Its centrepiece was a new Single Payment Scheme (SPS). Policy concerns at the time involved the budget, EU enlargement to the East, the WTO negotiations, and a perception (articulated by Commissioner Fischler) that there should be a shift of budget funds from CAP's Pillar 1 (price and income support) to Pillar 2 (rural development). We outline these concerns, conclude that the WTO was the main driving force of the reforms, set out the key parameters of the new support scheme, and outline some thoughts on the durability of the reformed CAP in the face of continued internal and external pressures.

Modelling: promoting creativity whilst forging links between science education and design and technology education

Educational reforms in many countries currently call for the development of knowledge-based societies. In particular, emphasis is placed on the promotion of creativity, especially in the areas of science education and of design and technology education. In this paper, perceptions of the nature of creativity and of the conditions for its realization are discussed. The notion of modelling as a creative act is outlined and the scope for using modelling as a bridge between science education and design and technology education explored. A model for the creative act of modelling is proposed and its major aspects elaborated upon. Finally, strategies for forging links between the two subjects are outlined.

Attitudes of rural branch managers in Madhya Pradesh, India, toward their role as providers of financial services to the poor

Discussions on banking reforms to reduce financial exclusion have referred little to possible attitudinal constraints, on the part of staff at both branch and institutional levels, inhibiting the provision of financial services to the poor. The research project, funded by the ESCOR (now Social Science Research) Small Grants Committee, has focused on this aspect of financial exclusion. The research commenced in May 2001 and was completed in April 2002. Profiles of the rural bank branch managers, including personal background, professional background and workplace, are presented. Attitudes of managers toward aspects of their work environment and the rural poor are examined, using results from both quantitative and qualitative analysis. Finally, the emerging policy implications are discussed. These include bank reforms to address human resource management, the work environment, intermediate bank management and organization, and the client interface.

European Union: Shadow WTO agricultural domestic support notifications

The notification of the level of domestic support to the World Trade Organization (WTO) is intended to reflect compliance with obligations entered into at the time of the Uruguay Round. WTO members have often been slow to provide notification of domestic support levels. This makes the process of notification less useful as an indicator of the degree to which changes in policy have or have not benefited the trade system as a whole and exporting countries in particular. The notification of domestic support in the E.U. illustrates the value of a measure that reflects current policies and can therefore act as a basis for negotiation of further disciplines where these are necessary. The E.U. has made major changes in its Common Agricultural Policy (CAP) over the period since 1992 when the MacSharry reforms were implemented. Payments originally notified in the blue box (related to supply control) have over time been changed until in their present form they are unrelated to current production or price levels, and hence can satisfy the criteria for the green box. The E.U. has therefore much more latitude in trade talks to agree to reductions in the allowable trade-distorting support. This paper reproduced the E.U. notifications relating to 2003/04 and extends these with official statistics to the year 2006/07. It then projects forward the components of domestic support until the year 2013/14, based on forecasts of future production and estimates of policy parameters. The impact of a successful Doha Round is simulated, showing that the constraints envisaged in the WTO draft modalities document of May 19, 2008, would be binding by the year 2013, at about the time the next budget cycle in the E.U. starts. Without the Doha Round constraints, further reform might still happen for domestic reasons, but the framework provided by the WTO for domestic policy spending would be less relevant. In that case, much could hinge on the legitimacy of the Single Farm Payment system under the current rules governing the green box.