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.

Entrepreneurship : industry policy priorities and entrepreneurial education in Australia

Four fields of national policy - general economic policy, industry policy, education policy and specific research and development policy - are strongly interrelated. Unfortunately, in Australia, policy makers in the four fields have not recognized that the discipline of Entrepreneurship - with its emphasis on managing the innovation process - holds the key to effective co-ordination between the four vital policy areas. The paper argues that innovation strategy, not cost reduction or research expenditure, is the key to developing successful, export-oriented products and world competitiveness. Viable innovation strategy depends on the relationship between government, capital availability, development capital and industrial developers. In turn, this relationship requires a cadre of entrepreneurial business managers educated not in the 'traditional' MBA mainstream but in the discipline of Entrepreneurship, specifically focused on learning the practical skills involved in venture evaluation and management of the innovation process. The paper concludes by describing the philosophy and performance of Swinburne University of Technology's School of Innovation and Enterprise, a school at the forefront of entrepreneurial education in Australia and thus a school with important implications for the nation's industry policy priorities.

The role of agregate demand and supply shocks in a low-income country : evidence from Bangladesh

This paper explores the relative role of aggregate demand and supply shocks in affecting the output level and inflation rate in a low-income country vulnerable to various economic shocks. The study uses Bangladesh data, and following Cover et al (2006), employs a modification of the Blanchard-Quah (BQ) approach, in which the two shocks are allowed to be correlated. Strong evidence is found for the hypothesis that aggregate demand and supply shocks are interrelated in Bangladesh. For the case in which causality is assumed to be running from demand to supply shocks, it was found that an independent supply shock plays significant role for fluctuations in inflation, which was absent in the standard BQ model. The results suggest that a tightening of monetary policy may lead to an adverse effect on the long-run growth potential and some supply-side policies may be required to supplement contractionary monetary policy in combating inflation in Bangladesh.

Measurement and structural properties of organizational codes of ethics in private and public Sweden

Purpose – The purpose of this paper is to test the measurement and structural properties in a model of organizational codes of ethics (OCE) in Sweden.

Design/methodology/approach – The measurement and structural properties of four OCE constructs (i.e. surveillance/training, internal communication, external communication, and guidance) were described and tested in a dual sample based upon private and public sectors of Sweden.

Findings – Results show that the measurement and structural models of OCE in part have a satisfactory fit, validity, and reliability.

Research limitations/implications – The paper makes a contribution to theory as it outlines a set of OCE constructs and it presents an empirical test of and OCE model in respect to measurement and structural properties. A number of research limitations are provided.

Practical implications – It provides a model to be considered in the implementation and monitoring of OCE. The present research provides opportunities for further research in refining, extending, and testing the proposed OCE model in other cultural and organizational settings.

Originality/value – The OCE model extends previous studies that have been predominately descriptive, by using confirmatory factor analysis and structural equation modeling.

Social justice in Australian higher education policy : an historical and conceptual account of student participation

This article provides a synoptic account of historically changing conceptions and practices of social justice in Australian higher education policy. It maps the changes in this policy arena, beginning with the period following the Second World War and concluding with an analysis of the most recent policy proposals of the Bradley Review. Concurrently, it explores the different meanings ascribed to social justice, equity and social inclusion over this time span and what these have meant and will mean for students, particularly those from low socio-economic backgrounds. It concludes that a relational understanding of social justice – ‘recognitive justice’ – is yet to inform student equity policy in higher education, although this is now what is required in the context of the planned shift from mass to universal participation.

Story-telling and policy making : the construction of university entrance problems in Australia

This paper is a study of the politics of policy making within the context of Australian university entrance policy. It argues that policy making is more concerned with the social construction of policy problems than with their resolution and that in this respect the problem-solving image of policy making is flawed. Additionally, the paper explores the ways in which policy problems are constructed and how competing stories are resolved within policy making. The paper concludes that in this case such stories of university entrance were absorbed within the government's agenda for reform through the use of participative processes restricted to the consideration of best solutions rather than particular problems.

Integrating agriculture and food policy to achieve sustainable peri-urban fruit and vegetable production in Victoria, Australia

Efforts to increase fruit and vegetable consump­tion are a significant aspect of national approaches to preventive health. However, policy frameworks for increasing fruit and vegetable consumption rarely take an integrated food-systems approach that includes a focus on production. In this policy analysis and commentary we examine fruit and vegetable production in peri-urban areas of Melbourne in Victoria, Australia, and highlight the significance of emerging environmental and eco­nomic pressures on fruit and vegetable production. This examination will be of interest to other locations around the world also experiencing pressure on their peri-urban agriculture. These pressures suggest that the availability and afforda­bility of fruit and vegetable supplies cannot be taken for granted, and that future initiatives to increase fruit and vegetable consumption should include a focus on sustainable production. Threats to production that include environmental pressures, together with the loss and cost of peri-urban agri­cultural land and a cost-price squeeze due to rising input costs and low farm-gate prices, act in combi­nation to threaten the viability of the Victorian fruit and vegetable industries. We pro­pose that policy initiatives to increase fruit and vegetable consumption should include measures to address the pressures facing production, and that the most effective policy responses are likely to be integrated approaches that aim to increase fruit and vegetable availability and affordability through innovative solutions to problems of production and distribu­tion. Some brief examples of potential integrated policy solutions are identified to illu­strate the possibilities and stimulate discussion.

American technology policy: evolving strategic interests after the Cold War

Since the end of the Cold War, U.S. policymakers have faced the challenge of addressing the technological requirements of both economic competitiveness and national security. Promoting the technological objectives of competitiveness and security poses a daunting task, as these objectives can differ significantly in terms of autonomy, the private sector’s role, and the time frame involved. The difficulties inherent in meeting these competing needs for technological investment and resources are exacerbated by growing technological globalization. American Technology Policy analyzes the ongoing efforts of politicians, legislators, policymakers, and industry leaders to balance their often-conflicting technological requirements. J. D. Kenneth Boutin examines recent trends and developments in American technology policy as it strives to support high-technology firms without undermining national security. He then considers issues of autonomy, relations between the federal government and industry, and the time frame involved in formulating and implementing policy initiatives, all in the context of globalization. Though satisfying the ambitious American technological agenda is difficult, it is impossible for authorities to avoid making the effort, given the high stakes involved. Boutin’s analysis is intended to inform those who are charged with prioritizing and balancing the technological needs of national defense and economic growth. Although the post–Cold War technology policy of the United States has been characterized by efforts to achieve a balance between these two competing priorities, the dominant focus remains on national security. Boutin explains the ways in which American authorities seek to limit the extent of compromise necessary by working with local and foreign actors and by encouraging structural changes in the environment for technological development, application, and diffusion.

The politics of coastal policy, planning and governance in Canada and Australia : business as usual, at a distance, or collaborative?

Canada and Australia are countries with substantial coastal zones which provide significant economic, social and environmental benefits and opportunities. The coastal zones of Canada and Australia also share significant threats such as, pollution, loss of biodiversity, and climate change, while also facing different challenges that are unique to their particular contexts. Effective management of such zones therefore represents a considerable challenge because of the: complexity of biophysical processes; multiple threats faced; uncertainties associated with understandings of such processes and threats, and the multiple jurisdictions and stakeholder viewpoints as to how such environments should be managed. Further, coasts and the sustainability of coastal resources and ecosystems have been argued to represent ‘wicked problems’ such that their governability is called into question. Therefore drawing on recent experiences in coastal policy, planning and governance in Newfoundland, Canada, and Victoria, Australia, this paper assesses the adequacy of current approaches to coastal governance in the two jurisdictions. In doing so we draw on recent policy and governance literature to consider whether coastal policy, planning and governance in Newfoundland and Victoria, reflect a collaborative, neoliberal, or business as usual (ad hoc, top down) approach. Based on such an assessment we consider the prospects for more integrated coastal zone management in each jurisdiction, as well as broader implications for governance and the resilience of coastal systems. It is argued that while both jurisdictions would benefit from a more collaborative approach, the mechanisms for bringing about such an approach would vary and will not come easily in light of institutional and historic barriers.

Down under and in between : Australian security perspectives in the 'Asian Century'

This chapter will provide an overview of Australian perspectives on the US alliance in light of ongoing and emerging challenges in the Asia-Pacific region. After a brief discussion of the motivations behind the signing of the ANZUS treaty, the first part of the chapter examines the historical context of the alliance, with a particular focus on the longstanding and ongoing tussle in Australia between independence in foreign policy making vis-à-vis broader structural constraints. While this debate has been a constant feature of the political scene in Australia, it has come into particular focus since the US withdrawal from Vietnam, which marked a turning point in Australian perspectives with regard to its own role in Asia. The collision of ideas surrounding Australian identity and Australian national interest has been reflected in policy approaches as successive governments have sought to strike a balance between the two exigencies and thus, most optimally ensure Australia’s strategic future. The chapter concludes by examining current perspectives through the lens of an ongoing debate taking place in Australian academic circles about what the rise of China means for Australia and its commitment to the US alliance, and considers options for caucus-style cooperation with fellow US allies beyond the hub-and-spokes model.

The dynamic interplay of news media and bilingual education policy in Australia's Northern Territory 1988-2008

his study investigates the dynamic interplay between news media and the Northern Territory’s policy of bilingual education for indigenous children living in some remote communities. It provides evidence to support the argument that the media-related practices of a range of policy actors resulted in policy processes being shaped to a significant degree by ‘media logic’. The research is based on depth interviews and uses the spoken words of participants to gain access to the local experiences and perspectives of those invested in developing, influencing and communicating the bilingual education policy. Through the analysis of more than 20 interviews with journalists, public servants, academics, and politicians as well as indigenous and non-indigenous bilingual education advocates, I have identified a range of media-related practices that have enabled policy actors to penetrate the policy debate, define problems for policymaking and public discussion through the news media, and thereby exert particular forms of influence in the policy process. The study also provides a ‘southern theory’ analysis of the Yolngu public sphere and a Bourdesian understanding of the journalism sub-field of indigenous reporting in the Northern Territory. It shows that issues of physical and cultural remoteness and the need for journalists to develop cultural competence are the hallmarks of this reporting specialization. It also identifies marked differences in journalists’ relationships with government, academic and indigenous sources and how these differences play out in the way participants understand the production and reception of media texts. This research makes an innovative contribution to Australian Journalism Studies by demonstrating how indigenous epistemologies and knowledges offer fresh perspectives and insights about news media and indigeneity that can be brought into balance with northern theories to build what Connell (2007) has called ‘southern theory’. This dovetails with another key outcome, which is the development of an academic form of journalism that serves indigenous peoples’ self-determinist aims for scholarly research, based in indigenous perspectives and research methodologies.