Crisis in Clio's family : a study of the discipline of Australian economic history 1918-1965

This thesis presents an intellectual history of the historiography of Australian Economic History between 1918 and 1965. More specifically, it is a contribution to a relatively novel area of research into 'disciplinary history’. It takes as its basic analytical material the four books widely used for significant lengths of time for undergraduate teaching during the period of the study. The thesis consists of five main chapters, plus an appendix which surveys the institutional development of Australian Economic History and provides the empirical basis for the selection of the works named above. After a brief introduction and overview, the next four chapters consist of a detailed study of one of these works, the historical context in which each was written, and an intellectual biography. The fifth chapter is largely theoretical and conceptual. It analyses the epistemological bases of History and Economics and explores the implications of different models of knowledge for the relationship between Economic History and its two antecedent disciplines, History and Economics. Current perceptions of the state of the discipline in Australia and overseas are also examined. There are three main propositions advanced and their implications explored in the fifth chapter. First, that changes which occurred in Australian Economic History during the period 1918-1965 shifted the discipline from the broad area of History to the broad area of Economics. Second, that the inherent tension and fundamental differences between the two disciplinary areas of History and Economics have profound and complex implications for Australian Economic History at a number of levels and in a number of areas. The third proposition posits that the paradigm shift of the 1950s/1960s in Australian Economic History, and the paradigm shift of the 1960s/1970s in Economic History respectively have resulted in crisis. The final part of the chapter summarises the contents of the preceding chapters, and draws some conclusions based on those detailed studies.

Aid and institutions in transition economies

We investigate whether aid contributed to institutional development in transition economies. We find that aid flows have a positive effect on democratization, especially on constraints on the executive and political participation. At the same time, total aid has no effect on overall quality of governance, while US aid appears to have a negative impact on some dimensions of governance. Aid's differential impact on democracy and governance is consistent with uneven development of institutions and the democracy consolidation hypothesis. We also find that aid has a non-linear effect on democracy. Openness has a positive effect on both democracy and good governance. Oil resources have an adverse effect on democracy. Adult mortality, civil war and adherence to Islam are all detrimental to good governance.

The effect of ownership structure on leverage decision: new evidence from Chinese listed firms

This paper examines the effect of state control and ownership structure on the leverage decision of firms listed in the Chinese stock market. Our results show that state-owned enterprises (SOEs) have higher leverage ratios than non-SOEs, and SOEs in regions with a poorer institutional environment have higher leverage ratios than SOEs in better regions. We also show that the largest shareholding (the percentage of shares held by the largest shareholder) in the SOEs has a negative relationship with the leverage ratio, while the largest shareholding in non-SOEs has a non-linear relationship with the short-term and long-term debt ratios. Finally, this study also shows that the share split reform and the improvement of institutional environment both weaken the negative relationship and strengthen the positive relationship between largest shareholding and leverage of SOEs and non-SOEs to some extent. This paper documents how the financing behaviour of SOEs is more influenced by government intervention, while the financing behaviour of non-SOEs is more market oriented.

Truths and half truths: China's socio-economic reforms (1978-2010)

Truths and Half Truths is aimed at economic and social science academics and students who are interested in the dynamics of China's institutional development and societal transformation. Covering the complexity of the social, economic, and governance reforms behind the economic miracles achieved by China since its reform in 1978, and particularly in the past twenty years, this book provides much needed insight and critical thinking on major aspects of China's reform. Topics include employment, environment, anti-poverty; urbanization and rural development; education, corruption, political regime and media. Readers will be able to re-evaluate the costs and benefits of China's modernization from a point-of-view of sustainability. © 2011 Woodhead Publishing Limited. All rights reserved.

Financial integration: the role of tradable and non-tradable goods

This paper examines the potential benefits of financial integration focusing on the role of tradable and non-tradable goods. We construct a new country-level index for tradability of output using disaggregate sector level data on output, imports and exports. Cross-country regressions show that for the overall sample, there is a weak positive interaction of tradibility of output and financial integration. When we focus on those countries within a middle range of institutional development, and thus within the middle range of income per capita, for these countries, the experience of integration is tempered significantly by increasing tradability of output. Sector-level regressions confirm the negative and significant interaction of trade and financial integration for this sample of countries.

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.

Institutional analysis of strategic choice of micro, small, and medium enterprises : development of a conceptual framework

This paper presents a conceptual framework showing formal and informal institutions and their relationship with the strategic choice of micro, small, and medium enterprises (MSMEs) in a developing country setting. It emphasises how institutions at sub-national level (such as a region or city) influence the strategic orientations of MSMEs as many developing countries in Asia are undergoing decentralisation whereby sub-national government authorities are given more political, economic, fiscal, and administrative powers. Furthermore, it sheds more insights on the environmental (institutional) determinism-organisational (strategic) choice nexus. It offers propositions, questions as well as issues worth pursuing in empirical investigations in the future.

The development of the institutional investor : the case of Australian life insurers 1945-85

This paper considers the post-war development of asset management practices among Australian life insurers, which have historically been among the largest institutional investors in Australia. A complex process of adaptation and organisational restructuring allowed life insurers to transform from basic investors of policy-holders’ funds to large multifaceted institutional investors in just three decades. Three stages in the development of investment practices are identified. These phases trace the process of expanding existing knowledge bases; diversification; and the acquisition of new skills; consolidation and the integration of these skills into institutional structures; thus completing one cycle of organisational learning and setting the stage for the next.

The development of internal auditing in Ethiopia: the role of institutional norms

Purpose – The purpose of this paper is to examine the extent to which institutional norms determine attributes of internal audit practices and how institutional changes explain the development of these practices.

Design/methodology/approach – The authors employed a qualitative research approach based on archival analysis and interview evidence.

Findings – Findings indicate that regulation-based institutional norms explain the adoption of internal audit and the function's characteristics in Ethiopian organizations. Furthermore, innovative introduction of internal audit practices originate within individual organizations and eventually get institutionalized through diffusion. Such innovations are associated with organizational size, top management characteristics, internal audit advancement in technology, and exogenous input from the external environment. Widely accepted internal audit practices, as institutional norms, are not always taken-for-granted at the level of individual organizations. The institutional change perspective enables explaining how new internal audit approaches are introduced to supplant old ones.

Originality/value – This study theorizes the development of internal audit practices from an institutional change perspective. Being the first study to do so, it contributes to the understanding of key drivers of institutional change that initiate new institutional norms that foster the development of internal audit through introduction and diffusion of new audit practices as old ones are deinstitutionalized.

Financial accounting reforms in the Australian public sector: an episode in institutional thinking

In recent years in Australia, accounting regulations have been developed that require the adoption of commercial accounting and reporting practices by public-sector organisations, including the recognition of cultural, heritage and scientific collections as assets by non-profit cultural organisations. The regulations inappropriately apply traditional accounting concepts of accountability and performance, notwithstanding that the primary objectives of many of the organisations affected are not financial. This study examines how this was able to occur within the ideas outlined in Douglas’s (1986) How Institutions Think. The study provides evidence to demonstrate that the development; promotion, and defense of the detailed accounting regulations were each constrained by institutional thinking and, as a result, only certain questions were asked and many problems and issues associated with the regulations were not addressed. Thus, it seeks to further our understanding of the nature and limits of change in accounting and the role of institutions in promoting and defending changes to accounting practice.

Conservation and development interventions as networks: The case of the India ecodevelopment project, Karnataka

Experience with community-based biodiversity conservation programs in the 1980s and 1990s contributed to the conviction among donor agencies and researchers that such programs must be based on the active support of local resource users, appropriate incentives, and institutional support. Yet the continuing struggles of practitioners to implement conservation interventions that are socially and ecologically sustainable point to difficulty in realizing these principles on the ground. Actor-oriented research in rural development and actor network theory emphasize that the capacity of facilitators to engage effectively in negotiation processes and establish strong networks with key actors is critical in mediating intervention outcomes. Drawing on the case of the India Ecodevelopment Project at Rajiv Gandhi (Nagarahole) National Park in Karnataka, India, this paper explores the role of relationships and networks between actors in a conservation and development intervention, finding that practitioners need to focus on negotiation and network building as a central rather than subsidiary part of the intervention process. Associated with this is the need for change in the way donor and implementing agencies conduct themselves, to promote communication and greater flexibility in intervention processes.

From personal reflection to social positioning: the development of a transformational model of a professional education in midwifery

A transformational model of professional identity formation, anchored and globalized in workplace conversations, is advanced. Whilst the need to theorize the aims and methods of clinical education has been served by the techno-rational platform of 'reflective practice', this platform does not provide an adequate psychological tool to explore the dynamics of social episodes in professional learning and this led us to positioning theory. Positioning theory is one such appropriate tool in which individuals metaphorically locate themselves within discursive action in everyday conversations to do with personal positioning, institutional practices and societal rhetoric. This paper develops the case for researching social episodes in clinical education through professional conversations where midwifery students, in practice settings, are encouraged to account for their moment-by-moment interactions with their preceptors/midwives and university mentors. It is our belief that the reflection elaborated by positioning theory should be considered as the new epistemology for professional education where professional conversations are key to transformative learning processes for persons and institutions.

Predicting IHRM strategy and practice decisions : development of the IHRM orientation typology

International human resource management (IHRM) is becoming increasingly fundamental to organisational success, as globalisation forces demand organisations to design and implement a global strategy. One of the most critical choices faced by IHRM practitioners is whether and when an organisation should adapt its human resource policies and practices to the local context (localisation). A typology of International Human Resource Management Orientations (IHRMO) that clarifies what IHRMO’s are and what they entail is developed from a review of the literature on localisation and globalisation, convergence and divergence and Perlmutter’s management typology. Additionally, two theoretical models are developed that predict which IHRM orientation identified in the typology should be adopted. The article takes a step towards elucidating effective IHRM strategy and practice decision-making by showing that culture and institutional pressures, amongst other tings, do make a difference.