The importance of Sino-Australian sister city type relationships in regional development

Using the Jiangsu-Victoria and Greater Green Triangle-Yangzhou relationships as case studies this paper provides an initial analysis of the origins, objectives, achievements, and limitations of SinoAustralian Sister City Type Relationships. Based on research to date, we suggest that certain factors, including the development of inappropriate SCTRs have seriously limited the capacity of these relationships to achieve their stated and unstated regional development objectives. After reviewing the recent history and perceived effectiveness of Sino Australian SCTRs. the paper concludes by commenting on the potential of such relationships to contribute to economic and cultural development in regional Australia.

Analysis of the potential and problems of new institutional economics for third world development

Purpose – The aim of this paper is to provide a critical evaluation of the potential of new institutional economics (NIE) in third world development.

Design/methodology/approach – The paper reviews various theories under NIE from both conceptual and empirical perspectives. It then reviews the various definitions of institutions and show that institutions are essential to overcome problems of information and uncertainty.

Findings – The review finds that weak institutions can undermine development and hence governments in developing countries should strengthen their institutions to provide greater scope for efficient functioning of markets. Where the market does not work owing to high transactions costs, traditional institutions of collective action and group decision making can work and hence need to be recognised.

Research limitations/implications – The major implications of the paper is that in developing countries, a clear understanding of various institutions such as user groups, inter-linked credit markets, rotational irrigation etc. is needed before they are replaced or modified by other institutions. The main limitations of NIE are that there can be capture by elites of various institutional innovations in rural areas, and that it does not explicitly consider income distribution and uncertainty which are glossed over and hence remain areas for future research.

Originality/value – This paper critically reviews the various institutional environments that developing countries face in addressing development issues.

Economic indicator comparisons of international real estate sectors using the OECD input-output database

With its growing share in national economies, the real estate sector has been considered a vital contributor of economic development. Research efforts are needed in order to gain a better comprehension of the national specificities of the real estate sector and to identify its role in economic development. Due to limited comparable data, the economic indicators of real estate sectors are hard to compare between different countries. This paper aims to explore the quantitative interdependence amongst the real estate sector and other industries in developed economies using input-output analysis, and to investigate their significant linkages. Based on the recently published Organisation for Economic Co-operation and Development (OECD) input-output database at constant prices, the analysis focuses on the real estate's escalating role in terms ofshares in gross output, value added and gross national product. With emphasis on the relative role of manufacturing, construction and services inputs, this paper also highlights the strengths of the push and pull of the real estate sector.

A comparative study on economic factors of construction industries in Australia and China

The construction sector produces the facilities needed for a large majority of the production of goods and services, in which a sizeable proportion of Gross Domestic Product is generated. Recent trends in the globalisation of construction markets indicate that many countries consider construction industry competitiveness as crucial, and are working to increase construction productivity, in particular where the construction industries play an important role in their economic development. This paper first points out the research importance in international construction. Based on economic analyses of construction industries, a study is then carried out to focus on the economic sizes and benefits of the Chinese construction industry and to compare them with the Australian construction industry. Results derived from such an international construction comparison will assist in the Australian construction communities understanding the construction markets and industries in China and will benefit in international construction participation and cooperation.

Economic analyses on multinational real estate and construction sectors

Both the construction and real estate sectors have been considered vital productive drivers for the economic development of a nation. Multinational economic analyses on these two sectors over a long period enable a better comprehension of their effects and interrelationships. Based on the recently published Organisation for Economic Co-operation and Development (OECD) input-output database at constant prices, this paper compares the real estate and construction sectors of six countries in terms of their shares in gross national product and gross national income. The push and pull effects of these two sectors onto the whole economy are further determined using forward and backward linkage indicators respectively. In addition, the interactions between themselves are formulated in terms of direct and total input parameters. This research provides a numerical approach to examine the economic influences and sectorial correlation of the real estate and construction sectors.

Comparing Australias genuine progress to its economic growth performance

Australia has recorded consistently strong levels of economic growth in recent times. Under conventional considerations, the well-being experienced by Australians would also be considered to have increased in equal terms over this period. This is because aggregate standard national accounts have from their inception been assigned as proxy measures of well-being both within the economic literature and public debate. However, this approach fails to consider a number of important economic costs and non-welfaristic impacts on well-being associated with a growing economy. As a result, figures such as Gross Domestic Product (GDP) per capita over-estimate well-being. It is possible to adjust these estimates to overcome these limitations. Within this paper, the sustainable well-being of Australia will be reviewed by estimating a Genuine Progress Indicator (GPI) for the period 1986–2003. Policy implications following from this new analysis will also be discussed.

Education for the end of poverty : implementing all the millenium development goals

This collection of essays and case studies considers the importance of meeting the education MDG as part of worldwide poverty reduction.

Entrepreneurship and economic growth : why is New Zealand an outlier? A preliminary analysis

The literature indicates that entrepreneurship and economic growth are closely and positively associated. For four years running, New Zealand has had the developed world’s highest rate of “Total Entry-Level Entrepreneurial Activity” (Acs et al. 2005; Frederick et al. 2004; Reynolds et al., 2004), yet it has slid to the lower ranks in the OECD in measures of economic development. At its level of entrepreneurial activity, New Zealand should have a higher level of economic development if it were to emulate other countries.

We make use of the Global Entrepreneurship Monitor data set, including nascent entrepreneurship rates for 45 countries over the 2000-2004 period as well as variables from standardised national statistics.

The paper uses two approaches. This research first finds evidence for “U-shaped curve” associating entrepreneurship with economic growth. It notes that New Zealand has the greatest deviation from this association compared to other developed countries with similar entrepreneurial rates (e.g. United States, Australia and Iceland). The second approach looks at nascent entrepreneurship as a function of non-economic conditions such as technology, demography, culture and institutions.

This short paper develops the hypotheses and carries out the “U-shaped curve” test. For the time being it leaves the factor analysis of non-economic conditions for another opportunity.

The outlier phenomenon in entrepreneurship and economic growth : mollycoddling policies create New Zealand’s perfect storm

Analyzing GEM 2005 data, we confirm that entrepreneurship and economic development form a U-shaped curve. We seek to understand New Zealand’s large deviation from the modeled curve by factor-analyzing all countries’ deviations from the curve. We make recommendations that would move New Zealand toward the trend line and thus aid in increasing its level of economic development. Our findings indicate that measures that overprotect workers, spoil incentives, or indulge welfare passivity can stymie economic growth even in conditions of high entrepreneurial activity.