Interdependence and dynamic linkages between the emerging stock markets of South Asia

The present article examines the dynamic linkages between the stock markets
of Bangladesh, India, Pakistan and Sri Lanka using a temporal Granger causality
approach by binding the relationship among the stock price indices within a
multivariate cointegration framework. We also examine the impulse response
functions. Our main finding is that in the long run, stock prices in Bangladesh,
India and Sri Lanka Granger-cause stock prices in Pakistan. In the short run
there is unidirectional Granger causality running from stock prices in Pakistan
to India, stock prices in Sri Lanka to India and from stock prices in Pakistan to
Sri Lanka. Bangladesh is the most exogenous of the four markets, reflecting its
small size and modest market capitalization.

Picture boys : biography, community and travelling picture shows

This thesis explores the relationship between the travelling picture shows, the lives of the "Picture Boys" who ran them, and the rural communities of Westland, New Zealand, 1932 to 1956. The shows brought change, as represented by Hollywood, but they also added significantly to social cohesion in the remote communities.

Serving the community : a biography of two primary teachers in rural Victoria 1922-1970

This biographical history investigates the formative influences, motivations and professional lives of wife and husband Ellen Cahalane Jennings (nee Murray) and Joseph Kevin Jennings in the context of their career as employees of the Victorian Education Department.

Ethnonationalism : the challenge for twenty first century Asia

Most twenty-first century Asian states will continue to experience high levels of ethnonationalist activity because: they are actually multi-nation states rather than nation-states, dominant ethnic groups practice "majority ethnonationalism," most have unitary political models, most have experienced rapid mobilisation, and many ethnic minorities live on significant state border areas.

Central bank independence and governance in the South Asia

This paper constructs the central bank independence and governance (CBIG) index for eight South Asian countries and examines their relationship with inflation. This CBIG index is constructed following the unique model developed by Ahsan, Skully and Wickramanayake (2006). This index consists of total 26 variables; all variables together form the overall index and different sub-sets of these variables construct sub-indices (eg. legal; political; price stability objectives; exchange rate policy; monetary policy and deficit financing; and accountability and transparency).
Several countries have improved their CBIG in last fifteen years. The war torn Afghanistan have established a new central bank act in 2003 which has improved the standard of CBIG in the region. In recent time Nepal has made remarkable improvement in its ranking by allowing improved independence to its central bank. Bangladesh has taken lead in term of gradual CBIG improvement in last fifteen years. Sri Lanka, Indian and Pakistan are three countries always maintained a standard level of CBIG. Bhutan and Maldives showed less improvement among the countries. This paper also examines the statistical relationship between CBIG indices and inflation. The results indicate that there is a positive relationship between CBIG and inflation in the region which in contrary to normal expectation that inflation is one of the robust proxy of actual CBIG.

Well-being achievement in Pacific Asia

The world has undergone rapid and tremendous change in recent decades. While many nations have achieved ever-higher per capita incomes, and higher well-being according to traditional measures, they have also experienced profound internal change. This change has lead to widespread concerns regarding social exclusion, human security, levels of personal satisfaction and happiness. Other countries have faired much less well, as according to many well-being measures they are worse off than they were 10 or 20 years ago. Life expectancies, for example, have fallen dramatically in many countries and are likely to fall substantially in others. The incidence of income poverty is higher today in many countries than it was ten years ago. Worldwide, more than a billion people currently live on less than one dollar per day. Social science research on living standards, human well-being and quality of life has come a long way over recent years, altering in response to changing global conditions, new research priorities, new conceptualisations and improved data resources. Twenty five years ago, national well-being achievement comparisons relied very heavily, and in some circles exclusively, on measures of income per capita. The same exercise would today be based a range of indicators, including summary measures of human well-being such as the well-known Human Development Index (UNDP, 2005). This is consistent with the commonly accepted view that human well-being is best treated as a multidimensional concept along the lines advocated by Sen (1985, 1993), Stewart (1985), Doyal & Gough (1991), Ramsay (1992), Cummins (1996), Narayan et al. (2000) or Nussbaum (2000) and others, as summarised in Alkire (2002). This view tends not to reject the relevance of income based or economic measures per se, simply positing that there is more to well-being achievement than simply increasing incomes. The widespread acceptance that well-being is multidimensional has more recently been accompanied by another important recognition. This relates not so much to current levels of well-being, but to the likelihood of declines in future levels. This recognition has spawned a rapidly growing literature on what is now termed as ‘vulnerability’. The vulnerability literature has primarily been concerned with the likelihood of individuals falling below the poverty line, be it defined in terms of income, consumption or health. Among the influential early vulnerability studies are Ravallion (1998), Jalan & Ravallion (1998) and Dercon & Krishnan (1999), each of which distinguished between transient and chronic poverty.

Non-economic well-being achievement in Pacific Asia

It is well known that income per capita and most widely reported non-economic well-being achievement measures are highly correlated among countries. Yet many countries exhibit higher achievement in the latter than predicted by the former. The reverse is true for many other countries. This paper commences by extracting the inter-country variation in a composite of three widely reported educational and health status indicators not accounted for by variations in income per capita. This extraction is interpreted inter alia as a measure of non-economic well-being. Using data for a sample of Pacific Asian countries, the paper then looks at correlations between this extraction and a number of new or less widely-used well-being measures, in an attempt to find the measure that best captures these achievements.

Fuzzy well-being in Pacific Asia

This paper develops a framework that uses fuzzy-set theory to measure human well-being. Fuzzy sets allow for gradual transition from one state to another while also allowing one to incorporate rules and goals, and hence are more appropriate for measuring outcomes that are ambiguous. Such ambiguity is an inherent characteristic of cross-country achieved well-being assessments. This framework is used to provide a fuzzy representation of the well known Human Development Index (HDI) and its three components. Fuzzy HDI estimates for 14 Pacific Asian countries are provided and compared with non-fuzzy estimates. Quite large differences in rankings emerge. The paper concludes by suggesting that fuzzy measures should be used more widely to measure achieved well-being outcomes.

Generational change : regional security and Australian engagement with Asia

The Australian Prime Minister Kevin Rudd has recently announced plans to develop greater regional integration and cooperation in the Asia-Pacific region.

Historically, Australian opinion, however, has expressed some anxiety about forging closer economic, political and security ties with Asia. Using trend data from the Australian Election Study and the Lowy Institute Poll, this article examines changes in Australian public opinion on closer engagement with Asia and whether the Australian public is likely to support the Rudd government’s push towards developing deeper regional diplomacy. The article finds a shift in opinion since the 1990s with a younger generation of voters who are moderately supportive of Australia’s engagement with Asia.

Consumer loyalty in South Asia: A double edged sword?

Within the growing literature on corporate social responsibility (CSR) in developing countries, almost no attention has been paid to the link between consumer awareness about their rights, adoption of socially responsible (SR) practices by small scale individual entrepreneurs (SIEs) and how these impact on consumer loyalty in a developing country context thus leaving a significant knowledge gap. This paper builds on the work of Azmat and Samaratunge (2009) on SIEs to address this gap in literature in the context of South Asia. South Asia as a region is growing rapidly and is moving to become a new powerhouse of economic development, yet the responsible business practices of SIEs who form a significant proportion of businesses operating in this region remain severely under-researched. We draw upon the existing literature to develop a comprehensive framework which presents a set of propositions specifying the relationship between consumer awareness, socially responsible business practices adopted by SIEs and consumer loyalty. The framework offers insight into understanding consumer loyalty in the context of developing countries.