The high commissioners : Australia’s representatives in the United Kingdom, 1910-2010

Marks the centenary of the posting of the first Australian High Commissioner in London, so beginning what is today Australia's oldest diplomatic mission. In 1910, when Sir George Reid was appointed its first High Commissioner in London, Australia was a self-governing but not yet sovereign state and the Australian Governor-General remained the most important channel of communication between the Australian and United Kingdom governments until the late 1920s. The book traces the history of the office and in doing so illuminates the larger story of Australian-United Kingdom relations in the twentieth century, the evolution of Australia from British colony to sovereign state and the gradual transition of the United Kingdom from head of an empire to member of the European Union.

Financialisation of official development assistance

Official Development Assistance is a significant global enterprise. Organsiations engaged in funding and implementing ODA (the bilateral donors, multilateral organsiations such as the World Bank and IMF) have unprecedented political and economic influence over a large number of sovereign developing countries. This paper analyses if, and how financialisation impacts on development aid, and implications for effective aid policy agendas, drawing on and linking critical debate on finacialisation, and ODA. Subsequent to the Global Financial Crisis (GFC) and the persistence of the European Monitory Crisis (EMC), specific needs of developing countries became increasingly sub-ordinated to political and ideological power relations between ‘real’ economics and financial economics otherwise known as financialisation. The paper finds ‘financialisation’ as the ideological, political and economic catalyst for economic growth potentially confusing long-term development to combat poverty, and a short term need to overcome the lack of financial capacity in developing recipient countries. Sustainable economic development requires developing countries to forsake the pursuit of financialisation and to re-delineate their national finance, trade and investment regimes, and re-state it in a balanced manner as to take into account their unique economic development needs rather that the donor agencies’ demands and to advance their own ‘real’ economies.

Mega-events and mega-profits: Unravelling the Vancouver 2010 security–development nexus

Academic and political commentators have commonly sought to understand the Olympics as a cultural dynamic, a "spectacle" that motivates certain actors to project their relative interests in localized spaces and as well on a global scale (Hiller 2006; Boyle and Haggerty 2009b ). Mega-events, as this argument goes, are monumental cultural events (Roche 2000) that rely on the audacity of spectacle to dramatize and condition the cultural, political, legal and economic landscape. Extending these insights into surveillance studies, Boyle and Haggerty (2009b: 259-260) position spectacle and the disciplinary mechanisms of anxieties associated with mega-events to explain the risk management practices of security planners. The dynamic social implications of the spectacle condition dramatic regimes of securitization and surveillance such that sovereign power emanates from the production and consumption of spectacle. In similar fashion Vida Bajc (2007: 1648) writes that security meta-rituals "demonstrate[s] that the process of transformation of [the] public space [of mega-events] from one of routine of daily life into a sterile area [that] has a ritual form [that] .... separates insiders from outsiders and brings about a new socio-political reality." Put another way, the "security-meta ritual" legitimates security and surveillance practices by normalizing the social hierarchies it imposes. Bajc focuses on the over-determination of dividing practices in mega-event security, but the signifying practices associated with capital are absent (perhaps due to her empirical focus on presidential addresses). Klauser (2008: 181) links commercialization and mechanisms of surveillance, but only by foregrounding the significance of "neutralized space" created by granting absolute commercial rights to event sponsors. Neoliberalprivatization and its articulation with security and surveillance, however, cannot be reduced to control over sponsorship rights and consumptive practices in particular urban "zones," nor can it be limited by the methodological temporality of the event itself.

From ranking fuzzy numbers to solving fuzzy linear programming: a comprehensive review

Solving fuzzy linear programming (FLP) requires the employment of a consistent ranking of fuzzy numbers. Ineffective fuzzy number ranking would lead to a flawed and erroneous solving approach. This paper presents a comprehensive and extensive review on fuzzy number ranking methods. Ranking techniques are categorised into six classes based on their characteristics. They include centroid methods, distance methods, area methods, lexicographical methods, methods based on decision maker's viewpoint, and methods based on left and right spreads. A survey on solving approaches to FLP is also reported. We then point out errors in several existing methods that are relevant to the ranking of fuzzy numbers and thence suggest an effective method to solve FLP. Consequently, FLP problems are converted into non-fuzzy single (or multiple) objective linear programming based on a consistent centroid-based ranking of fuzzy numbers. Solutions of FLP are then obtained by solving corresponding crisp single (or multiple) objective programming problems by conventional methods.

What determines the yen swap spread?

We investigate if Japanese yen denominated interest rate swap spreads price risks in addition to liquidity and default risk. These additional risks include: the time-varying correlation between interest rates of different types and maturities; business cycle risk; and market skewness risk. Our analysis, over a number of different maturities and sample periods, supports the existence of an additional risk premium. We also show that the time-varying correlation between short term market interest rates (e.g., TIBOR) and the longer term Government bond yield (e.g., Gensaki) is of particular importance. Japanese yen swap spreads are shown to contain both pro-cyclical and counter-cyclical elements of business cycle risk, positive risk premia for skewness risk and variable risk premia for correlation risk (between fixed and floating interest rates).

Conceptualizing The Schmittian ‘Exception’ in the European Union: from the ‘Opt-Out’ Procedure(S) to indirect forms of secessionism

Too often, legal and sociopolitical scholars concerned with European policies anddecision-making procedures focus their efforts only on the official essence ofconventional opt-out forms of nonparticipation in the European integration process,such as those established in the Treaty of Lisbon. Yet, far from being just an internalmatter, the independentist instances which informed the Scottish referendum had asignificant impact on delicate issues of EU law, biopolitics, political anthropology,political theology, and foreign policy which deserve to be properly addressed. Thenecessity of conducting such an analysis is self-evident, and mainly related to thepossibility that the Scottish experience may be soon replicated, with different results,in the Italian regions of Venetia, Sardinia, and Lombardy, and in the Spanishcommunity of Catalonia. Delving into this dimension through Schmitt’s politicaldecisionism and adopting a comparative and interdisciplinary approach thattranscends the limits of pure positivistic and analytical lines of inquiry, this paperpresents a country’s choice to leave the EU or stop cooperating with it through thedirect opt-out mechanisms officially regulated in its Treaties, or through indirectforms of secessionism, in terms of an ‘exceptional’ act of sovereign will.

Homeland, territory, property: contesting land, state, and nation in urban Timor-Leste

This article considers contestations over land, state and nation in Aitarak Laran, an urban settlement in post-independence Timor-Leste. Since 2010 the settlement has been resisting eviction by the East Timorese state, which wishes to use the land it occupies to build a National Library and Cultural Centre. In exploring the contestation, the purpose of this article is two-fold. Firstly, it explores the nature of social connection to land within postcolonial state- and nation-building. Here, the contestation at Aitarak Laran reveals counter-posed imaginings of land as homeland, territory and property. Secondly, the article draws out the implications of these counter-posed imaginings for thinking about the 'right to the city', a notion first theorised by Lefebvre (1996 [1968]) and subsequently developed to encompass a range of modes of urban protest. In the settlement, the promises of independence-unity, equivalence, and inclusion within the sovereign nation-state-are at odds with residents' experiences of what independence has in fact brought. Land, in its multiple imaginings, becomes a crucible upon which this painful disjuncture plays out. Reading Aitarak Laran as an instance of 'right to the city' struggle, these tensions emerge as well not only in practice but also in theory, reflected particularly in the limitations and ambiguities of rights discourse.

Call auction transparency and market liquidity: Evidence from China

This paper uses the natural experiment offered by the Shanghai Stock Exchange to investigate the impact of opening call auction transparency on market liquidity. We find that the dissemination of indicative trade information during the pre-open call auction session leads to an overall improvement in stock liquidity in the continuous trading session. Bid-ask spreads narrow in the first trading hour because adverse selection risk fell significantly and there is less price volatility in the continuous market. This effect is greater for actively traded securities than illiquid securities. Our findings are robust for different lengths of sample period, different lengths of trading hours after market open, and stocks that had (and had not) reformed the share split structure during our research period.

Democracy: critiquing a Eurocentric history

This paper sets out an ambitious critique of contemporary political scientists, political historians and others concerned with the history of democracy. It argues that overwhelmingly the history of democracy relies on an overtly Eurocentric narrative that emphasizes the keystone moments of Western civilization. According to this narrative, democracy has a clear trajectory that can be traced from ancient experiments with participatory government in Greece and to a lesser extent in Rome, through the development of the British parliament, the American Declaration of Independence and the French Revolution, and then finally onto the triumphant march of the liberal model of democracy across the globe over the last 200 years, particularly under Western tutelage. Histories of democracy that focus exclusively on these events not only privilege Europe and its successful colonies, but also miss the broader human story of the struggle for and achievement of democracy.This presents us with a distinct challenge. For those whose heritage does not include a direct link to Greek assemblies, the American Congress or the French Revolution, the ‘standard history of democracy’ provides a distant and exclusive narrative, which limits one’s ability to embrace democracy. This paper concludes by noting that, as democracy spreads out across the world today, political scientists not only need to break down the intellectual orthodoxy that democracy has exclusively Western roots, but also to embrace a more global view of democracy as a political practise that has been present at various times and in sometimes unfamiliar ways in the complex histories and rich cultural traditions of most of the people of the earth.

The economic significance of CDS price discovery

© 2015 Springer Science+Business Media New York Between 2005 and 2009, we document evident time-varying credit risk price discovery between the equity and credit default swap (CDS) markets for 174 US non-financial investment-grade firms. We test the economic significance of a simple portfolio strategy that utilizes fluctuation in CDS spreads as a trading signal to set stock positions, conditional on the CDS price discovery status of the reference entities. We show that a conditional portfolio strategy which updates the list of CDS-influenced firms over time, yields a substantively larger realized return net of transaction cost over the unconditional strategy. Furthermore, the conditional strategy’s Sharpe ratio outperforms a series of benchmark portfolios over the same trading period, including buy-and-hold, momentum and dividend yield strategies.

Latency reduction and market quality: the case of the Australian Stock Exchange

This study investigates the role of latency in market quality in the Australia Securities Exchange following the introduction of the Integrated Trading Platform (ITS) and ASXTrade. We find that the reduction in system latency from 70. ms to 30. ms (ITS) improved liquidity. However, the lower latency has not had a long-lasting downward effect on spreads, as there was no discernible reduction in trading costs when institutional traders already had access to lower-latency co-locations. We contribute to the literature by reporting that low latency improves market liquidity, but privileged participants that have access to trading information prior to others may induce greater information asymmetry and adverse selection.

A comparison of the dietary patterns derived by principal component analysis and cluster analysis in older Australians

BACKGROUND: Despite increased use of dietary pattern methods in nutritional epidemiology, there have been few direct comparisons of methods. Older adults are a particularly understudied population in the dietary pattern literature. This study aimed to compare dietary patterns derived by principal component analysis (PCA) and cluster analysis (CA) in older adults and to examine their associations with socio-demographic and health behaviours. METHODS: Men (n = 1888) and women (n = 2071) aged 55-65 years completed a 111-item food frequency questionnaire in 2010. Food items were collapsed into 52 food groups and dietary patterns were determined by PCA and CA. Associations between dietary patterns and participant characteristics were examined using Chi-square analysis. The standardised PCA-derived dietary patterns were compared across the clusters using one-way ANOVA. RESULTS: PCA identified four dietary patterns in men and two dietary patterns in women. CA identified three dietary patterns in both men and women. Men in cluster 1 (fruit, vegetables, wholegrains, fish and poultry) scored higher on PCA factor 1 (vegetable dishes, fruit, fish and poultry) and factor 4 (vegetables) compared to factor 2 (spreads, biscuits, cakes and confectionery) and factor 3 (red meat, processed meat, white-bread and hot chips) (mean, 95 % CI; 0.92, 0.82-1.02 vs. 0.74, 0.63-0.84 vs. -0.43, -0.50- -0.35 vs. 0.60 0.46-0.74, respectively). Women in cluster 1 (fruit, vegetables and fish) scored highest on PCA factor 1 (fruit, vegetables and fish) compared to factor 2 (processed meat, hot chips cakes and confectionery) (1.05, 0.97-1.14 vs. -0.14, -0.21- -0.07, respectively). Cluster 3 (small eaters) in both men and women had negative factor scores for all the identified PCA dietary patterns. Those with dietary patterns characterised by higher consumption of red and processed meat and refined grains were more likely to be Australian-born, have a lower level of education, a higher BMI, smoke and did not meet physical activity recommendations (all P < 0.05). CONCLUSIONS: PCA and CA identified comparable dietary patterns within older Australians. However, PCA may provide some advantages compared to CA with respect to interpretability of the resulting dietary patterns. Older adults with poor dietary patterns also displayed other negative lifestyle behaviours. Food-based dietary pattern methods may inform dietary advice that is understood by the community.

Effects of a free school breakfast programme on school attendance, achievement, psychosocial function, and nutrition: a stepped wedge cluster randomised trial

BACKGROUND: Approximately 55,000 children in New Zealand do not eat breakfast on any given day. Regular breakfast skipping has been associated with poor diets, higher body mass index, and adverse effects on children's behaviour and academic performance. Research suggests that regular breakfast consumption can improve academic performance, nutrition and behaviour. This paper describes the protocol for a stepped wedge cluster randomised trial of a free school breakfast programme. The aim of the trial is to determine the effects of the breakfast intervention on school attendance, achievement, psychosocial function, dietary habits and food security.

METHODS/DESIGN: Sixteen primary schools in the North Island of New Zealand will be randomised in a sequential stepped wedge design to a free before-school breakfast programme consisting of non-sugar coated breakfast cereal, milk products, and/or toast and spreads. Four hundred children aged 5-13 years (approximately 25 per school) will be recruited. Data collection will be undertaken once each school term over the 2010 school year (February to December). The primary trial outcome is school attendance, defined as the proportion of students achieving an attendance rate of 95% or higher. Secondary outcomes are academic achievement (literacy, numeracy, self-reported grades), sense of belonging at school, psychosocial function, dietary habits, and food security. A concurrent process evaluation seeks information on parents', schools' and providers' perspectives of the breakfast programme.

DISCUSSION: This randomised controlled trial will provide robust evidence of the effects of a school breakfast programme on students' attendance, achievement and nutrition. Furthermore the study provides an excellent example of the feasibility and value of the stepped wedge trial design in evaluating pragmatic public health intervention programmes.

The League of Nations and the Refugees from Nazi Germany. James G. McDonald and Hitler’s victims

Greg Burgess's important new study explores the short life of the High Commission for Refugees (Jewish and Other) Coming from Germany, from its creation by the League of Nations in October 1933 to the resignation of High Commissioner, James G. McDonald, in December 1935.The book relates the history of the first stage of refugees from Germany through the prism of McDonald and the High Commission. It analyses the factors that shaped the Commission's formation, the undertakings the Commission embarked upon and its eventual failure owing to external complications.The League of Nations and the Refugees from Nazi Germany argues that, in spite of the Commission's failure, the refugees from Nazi Germany and the High Commission's work mark a turn in conceptions of international humanitarian responsibilities when a state defies standards of proper behaviour towards its citizens. From this point on, it was no longer considered sufficient or acceptable for states to respect the sovereign rights of another if the rights of citizens were being violated. Greg Burgess discusses this idea, amongst others, in detail as part of what is a crucial volume for all scholars and students of Nazi Germany, the Holocaust and modern Jewish history.

The problem of spontaneous goodness: from Kierkegaard to Løgstrup (via Zhuangzi and Eckhart)

Historically, Western philosophy has struggled to accommodate, or has simply denied, the moral value of spontaneous, non-reflective action. One important exception is in the work of K.E. Løgstrup, whose phenomenological ethics involves a claim that the ‘ethical demand’ of care for the other can only be realized through spontaneous assent to ‘sovereign expressions of life’ such as trust and mercy. Løgstrup attacks Kierkegaard for devaluing spontaneous moral action, but as I argue, Kierkegaard too offers an implicit view of spontaneous moral response (‘second immediacy’) as a regulative ideal. In attempting to articulate the model of character-formation that such an ethics requires, we can see both Løgstrup and Kierkegaard as engaging with an ancient problematic, running from Classical Daoism to medieval mysticism, of achieving spontaneity through purgation rather than edification—not building the subject up, but demolishing personality in order to become a conduit for a transcendent normativity.