The dynamic relationship between real exchange rates, real interest rates and foreign exchange reserves : empirical evidence from China

This article examines the long-run and short-run relationship between China's real exchange rate, foreign exchange reserves and the real interest rate differential between China and the United States using monthly data from 1980 to 2002. Extensive testing for unit roots allowing for up to two structural breaks in the trend indicates that the variables are not integrated of the same order. Thus, the bounds testing approach to cointegration is used, which finds that there is a single long-run relationship between the three variables. In the long run the real exchange rate has a statistically significant positive effect on foreign exchange reserves. The coefficient on the real interest rate differential is also positive, but is statistically insignificant. In the short-run it is found that the relationship between the real exchange rate, real interest rate differential and foreign exchange reserves is non-monotonic.

Conflict of interest in policing and the public sector

Conflicts of interest are a key factor in the contemporary decline of trust in government and public institutions, eroding public trust in government and democratic systems. Drawing on two unique empirical studies involving policing and the broader public sector, this paper explores the meaning and dimensions of conflict of interest by examining public complaints about conflict of interest and providing distinctive insights into the nature of conflict of interest as a problem for public sector ethics. The paper analyses and explores appropriate regulatory and management approaches for conflict of interest, focusing on three elements: (1) dealing with private interests that are identifiably problematic in the way they clash with the duties of public officials; (2) managing conflicts as they arise in the course of public sector work (manifested in preferential and adverse treatment, and other problematic areas); and (3) developing ethical and accountable organisational cultures. It is concluded that effective and meaningful public sector ethics in the pursuit of the public interest must be based on an ethos of social accountability and a commitment to prioritise the public interest in both fact and appearance.

Costs, benefits and risks of IT in construction

Construction organisations were found to be reluctant to invest in IT due to the lack of a technique that accurately assesses the costs, benefits and risks. More importantly the associated indirect costs that are often overlooked can constitute up to 80% of costs related to investing in IT.

National interest in the theory of international relations

The concept of "the national interest" has been widely analysed by historians and political scientists. However, there has not been a systematic investigation of the term from the range of theoretical perspectives which comprise the discipline of International Relations. This dissertation fills this gap by examining how the term is variously understood by realist, Marxist, anarchist, liberal, rationalist and constructivist theories of International Relations. It is argued that far from having a clear and unambiguous meaning, "the national interest" is a problematic term which is largely devoid of substantive content.

Transformational analysis of the national interest

This thesis explains the independence of East Timor by investigating the idea of "national interest". It shows how the policymakers' "national interest" calculations were opposed by a transnational solidarity movement. It concludes that the Australian government was compelled to deploy peacekeepers despite its best efforts to the contrary.

Costs of Silver Gulls Larus novaehollandiae in an urban environment

Silver Gull economic impacts were evaluated during 1998 to 2003 in the Greater Melbourne area. Roof nesting and roosting created substantial problems. Annual cost for cleaning, maintenance, damage, repairs and mitigation was $3,570,000. Roof corrosion was $0.9 million. Reducing anthropogenic food availability is the key to reducing problems.

Interest rate risk management using matching techniques

Explores the technique of matching asset and liability cash flows, including its applicability to the management of a pension fund. Explains a new procedure for interest rate risk management. Incorporates a study of the Metallgesellschaft case.