Evidence on PPP for selected Asian countries from a panel cointegration test with structural breaks

The goal of this article is to examine evidence for purchasing power parity (PPP) for a panel of Asian countries, namely Malaysia, Thailand, India, Pakistan, Sri Lanka and the Philippines. Our main contribution is that for the first time in this literature we use a panel cointegration test, developed by Westerlund (2006), which allows us to incorporate multiple structural breaks. We find that using Gregory and Hansen's (1996) residual-based test for cointegration and Pedroni's (1999) panel cointegration test without structural breaks provide weak evidence of cointegration between nominal exchange rates vis-à-vis the US dollar and relative prices. However, when we use the Lagrange multiplier panel structural break cointegration test we find strong evidence of panel cointegration, providing evidence for PPP.

Islam and political violence : Muslim diaspora and radicalism in the West

How do we engage with the pressing challenges of xenophobia, radicalism and security in the age of the "war on terror"? The widely felt sense of insecurity in the West is shared by Muslims both within and outside Western societies. Growing Islamic militancy and resulting increased security measures by Western powers have contributed to a pervasive sense among Muslims of being under attack (both physically and culturally). Islam and Political Violence brings together the current debate on the uneasy and potentially mutually destructive relationship between the Muslim world and the West and argues we are on a dangerous trajectory, strengthening dichotomous notions of the divide between the West and the Muslim world.

Migrant housing in the city and the village : from Melbourne to Zavoj

This paper will discuss the kinds of communities that evolve through historical practices of migration. The migrant house is associated with a new architecture that hod appeared in the cities of immigration of the new worlds (Melbourne, Toronto, Chicago). It is perceived as a stereotypical symbolisation of immigrants from Southern European origins that had arrived in the decades following the Second World War. The appearance of houses built by returning migrants in sites of origin suggests other traiectories, other modes of travel, and other forms of community. Central to the thesis of this paper is the testimony of two types of migrant houses. The study draws on theories of migration that address the site of departure, the site of arrival, and the question and conflict of return which is at the centre of the migrant's imaginary. This study will examine the migrant houses in the village of emigration (Zavoj in Macedonia), migrant houses built by returning emigrants. A study of the two houses of migration implicates a set of networks, forces, relations, circumscribing a large global geopolitical and cultural field that questions our understandings of diaspora, the binary structure of dwelling/travelling, and the fabric and fabrication of community. In addition, the paper will explore the notion of house as an imaginary landscape, a psychic geography narrated through migratory travels.

Thai hedging practices : post Asian financial crisis

This paper provides survey evidence captured from a sample of 113 respondents to a 2008 questionnaire that was sent to 344 listed non-financial companies in Thailand. The study examines how Thai companies manage their exchange rate exposure post Asian Financial Crisis.

Thailand is an interesting case study because it was a country at the core of the 1997 financial meltdown and was one of the first forced by the crisis to move from a fixed to a floating exchange rate regime. It is therefore constructive to examine how businesses in Thailand have coped with a shift from a fixed to floating exchange rate and to examine how they manage their exchange rate exposure post 1997.

Findings indicate that companies that use currency derivatives do so to reduce volatile cash flows are less risky and tend to be more profitable than companies that do not use currency derivatives. This is consistent with the theory that hedging increases the value of the firm.

The type of instruments that companies in Thailand use and how they are used is similar to what other studies find in other countries. Matching and the use of forward contracts are the most common ways that companies manage transaction exposure. The study also confirms that companies with higher levels of international business engagement are more likely to use currency derivatives.

What is unique in Thailand is that Thai businesses are less rigorous in their internal control of their currency hedging activities. It is therefore recommended that companies consider a documented hedging policy and that senior management actively monitor the policy and currency hedging activity.

Sovereignty and resistance : India, China and the Asian-African Conference, 1955

This thesis examines the Asian-African Conference at Bandung, Indonesia in 1955 from a broad historical perspective. It presents evidence that the assertion of independent Asian foreign policy - non-aligned and communist led by India and China - signalled a more significant, long-term shift in West-East realtions than has been previously identified.

Post Asian financial crisis : a survey of Thai hedging practices

This thesis examines how companies in Thailand coped with exchange rate volatility post Asian Financial Crisis. Findings indicate businesses quickly adjusted to the transition from a fixed to floating regime. However, Thai businesses appear to be less rigorous in their internal control of currency hedging activities. The thesis recommends strategies to overcome this risk.

Political parties and democracy : Post-Soviet and Asian political parties

Political Parties and Democracy: Volume III: Post-Soviet and Asian Political Parties is the third volume in this five-volume set. It offers clearly written, up-to-date coverage of post-Soviet and Asian political parties from the unique perspective of distinguished indigenous scholars who have lived the truths they tell and, thus, write with unique breadth, depth, and scope.

Presented in two parts, this volume overviews post-Soviet parties, then discusses the realities on the ground in Georgia, Moldova, Russia, and Ukraine. Likewise, the book offers an introduction to Asian political parties, followed by chapters on China, India, Japan, Malaysia, and South Korea. Throughout, contributors explore the relationship between political parties and democracy (or democratization) in their respective nations, providing necessary historical, socioeconomic, and institutional context, and clarifying the balance of power among parties—and between them and competing agencies of power—today