Macro-economic and financial determinants of comovement across global real estate security markets

This paper models the determinants of integration in the context of global real estate security markets. Using both local and U.S. Dollar denominated returns, we model conditional correlations across listed real estate sectors and also with the global stock market. The empirical results find that financial factors, such as the relationship with the respective equity market, volatility, the relative size of the real estate sector and trading turnover all play an important role in the degree of integration present. Furthermore, the results highlight the importance of macro-economic variables in the degree of integration present. All four of the macro-economic variables modeled provide at least one significant result across the specifications estimated. Factors such as financial and trade openness, monetary independence and the stability of a country’s currency all contribute to the degree of integration reported.

Relationship between classroom authority and epistemological beliefs as espoused by primary school mathematics teachers from the very high and very low socio-economic regions in Thailand

This article presents findings of a larger single-country comparative study which set out to better understand primary school teachers’ mathematics education-related beliefs in Thailand. By combining the interview and observation data collected in the initial stage of this study with data gathered from the relevant literature, the 8-belief / 22-item ‘Thai Teachers’ Mathematics Education-related Beliefs’ (TTMEB) Scale was developed. The results of the Mann-Whitney U Test showed that Thai teachers in the two examined socio-economic regions espouse statistically different beliefs concerning the source and stability of mathematical knowledge, as well as classroom authority. Further, these three beliefs are found to be significantly and positively correlated.