Determinants of Central bank independence and governance : problems and policy implications

Central bank independence and governance (CBIG) is a term subject to conflicting definitions and so its related studies are difficult to compare. This paper therefore focuses on developing of a more useable definition, and an index model identifying the determinants of independence and governance and their possible policy implications. It also examines various independence measurement tools such as ranking and index. The index model resulting centres on key central bank independence and corporate governance issues, such as, legal aspects, political aspects, price stability objective aspects, exchange rate policy aspects, monetary policy and deficit financing aspects and finally, transparency and accountability aspects.

Where do children usually play? A qualitative study of parents' perceptions of influences on children's active free-play

This study explored the perceptions of 78 parents from low, mid and high socio-economic areas in Melbourne, Australia to increase understanding of where children play and why. Using an ecological model interviews with parents revealed that safety and social factors emerged as key social themes, facilities at parks and playgrounds, and urban design factors emerged as important physical environment themes. The children's level of independence and attitudes to active free-play were considered to be important individual level influences on active free-play. The study findings have important implications for future urban planning and children's opportunities for active free-play.

Auditor independence: regulation, oversight and inspection

Much of what auditors do is unobservable. Indeed, what goes on in an audit has been described as ‘secret audit business’. Audits in this context are of financial reports and those financial reports are the representations of the management of those companies, not the auditors. The audits of financial reports are of value in that they provide a competent and independent (of auditee management) attestation of the validity of those management representations. This attestation lowers the ‘information risk’ for the users of these financial reports. There has been a marked increase in activity to regulate matters relating to independence. The proposals outlined in CLERP 9 are one example of this. The requirements in the United States under the Sarbanes-Oxley Act are a further example.

Audit firms operate in a highly regulated yet highly competitive market. Evidence exists to suggest that audit firms are active competitors in respect of audit pricing and competency, including specialist industry expertise. Until recently, there has been little or no observable evidence that audit firms compete in respect of independence. The issues as they relate to audit independence are complex. One issue is that threats to independence are frequently subtle and difficult to observe and measure. Hence, controlling the decisions that relate to them cannot rely solely on regulation which itself inevitably relies on crude definitions and imprecise measures. Additionally, further regulation may not achieve the desired end without other processes being but in place in tandem.

This paper argues that:

1. auditors of certain classes of companies (in particular, those that are publicly traded) should be provided with incentives or requirements to have observable processes on independence
2. the means of observability should be in the form of an inspection and review process focussing on issues critical to the audit, such as independence
3. expert persons not having a current or past financial interest in the firm or in the commercial outcomes of the review should be used in the inspection and review process
4. the review process should have wide-ranging powers of inspection to examine the policies, processes, structures and ‘culture’ of audit firms
5. the report of the inspection and review should be made public, unedited and in full, and in a timely fashion. The primary objectives of this proposal are to (1) make more transparent to the market for information the characteristics of the audit firms and their process to ensure audit independence, and (2) provide a rigorous oversight of independence decision-making by persons who have no commercial interest in the outcome of the decision.

The politics of Indonesia

The Politics of Indonesia is the only book to provide a complete analysis of Indonesian politics, from the declaration of independence until the election of Susilo Bambang Yudhoyono in late 2004. The book examines the underlying themes and tensions that affect Indonesian politics, from the dichotomy between the small wealthy elite and the poverty in which most of the population live to the system of corruption and patronage within which the political system and armed forces operate. Analyzing the role and impact of the military, separatism, the media, law, and the economy on Indonesia, this book provides a topical and thought-provoking guide to one of the regions most populous countries, and the largest predominantly Muslim country in the world.

East Timor : the price of liberty

This book is based on extensive research and regaulr visits to East Timor since 1995. It considers the trials that the people of East Timor have undergone in their long struggle for independence, and issues that have arisen out of independence. This account places East Timor within the context of other post-colonial states, noting the problems that most of them have faced in coming to grips with their new-found freedoms, and how they have managed, or mismanaged, such freedoms. It also traces the themes and issues within the independence movement, noting how these have contibuted to post-independence outcomes, in particular the poltiical tensions that almost saw East Timor collapse as a viable state in 2006. The books concludes with an assessment of the 2007 elections which, depsite some post-election violence, saw the consolidation of democratic processes in East Timor, and which marked it as having a brighter future in this one critical respect.

Contribution of Australian cardiologists, general practitioners and dietitians to adult cardiac patients’ dietary behavioural change

Aim:  To investigate the use of behavioural change techniques by cardiologists, general practitioners and dietitians in adult cardiac patients within 12 months of their cardiac event.
Method:  Quantitative cross-sectional surveys. Frequency analyses were conducted on the respondents' answers to questionnaire items. Chi-squared test of independence compared responses of the three professional groups on the questionnaire items. Analyses of variance were conducted to explore the impact of the independent variables: age, sex and time worked on the behavioural change techniques used by the respondents.
Results:  The respondents included 248 general practitioners (30% response), 189 cardiologists (47% response) and 180 dietitians (60% response). General practitioners and cardiologists acted mainly as advocates for dietary change in the dietary management process. Dietitians provided nutrition knowledge and a range of techniques to assist dietary behavioural change. Cardiologists and dietitians shared little nutrition information with general practitioners (cardiologists with general practitioners = 8%, dietitians with general practitioners = 49%).
Conclusion:  The present study shows that cardiac patients may have insufficient access to knowledge of nutrition and techniques to assist them with dietary behavioural change.

Maternity care experiences of Asia ethnic minorities in rural Tasmania, Australia : a mixed methods study

When migrating to Australia Asian women bring with them birthing cultural beliefs and practices, many of which are different from the Australian medical and cultural understanding of reproduction. Such cultural differences may result in conflicts between clients and health care providers especially when the migrants have a poor knowledge of English. The research investigates the maternity care experiences of Asian migrants in Tasmania. The barriers that Asian migrants face in accessing maternity care services and the factors that affect their views towards maternity care were also explored. A mix of quantitative and qualitative methods was employed. Ten women from different ethnic minorities were invited to semi-structured interviews. The qualitative data were analysed using grounded theory. Findings from the interviews were utilized to design a survey questionnaire. Of the 150 survey questionnaires posted, 121 questionnaires were returned. Descriptive statistics and Chi-square tests of independence were used to analyse the quantitative data. Asian migrants followed some traditional practices such as having good rest and eating hot food during the postpartum month. However, they tended to adapt or disregard traditional practices that were no longer applicable in the new environment including the practices of not washing or having a shower. Support is vital for women recovering after childbirth to prevent postnatal depression. Two main barriers migrant women face in accessing health care are language and cultural barriers. Country of origin, partner’s ethnicity, religion and length of stay in Australia are factors that shape the migrants’ views and attitudes towards and experience of maternity care. Providing interpreting services, social support for migrant women and improving the cross-cultural training for healthcare providers are recommended to improve available maternal care services. The factors that affect migrants’ view on maternity care should be taken into account when providing maternity care for Asian migrant women.

A validity-driven approach to the understanding of the personal and societal burden of low back pain : development of a conceptual and measurement model

Introduction: While the importance and magnitude of the burden of low back pain upon the individual is well recognized, a systematic understanding of the impact of the condition on individuals is currently hampered by the lack of an organized understanding of what aspects of a person’s life are affected and the lack of comprehensive measures for these effects. The aim of the present study was to develop a conceptual and measurement model of the overall burden of low back pain from the individual’s perspective using a validity-driven approach.
Methods: To define the breadth of low back pain burden we conducted three concept-mapping workshops to generate an item pool. Two face-to-face workshops (Australia) were conducted with people with low back pain and clinicians and policy-makers, respectively. A third workshop (USA) was held with international multidisciplinary experts. Multidimensional scaling, cluster analysis, participant input and thematic analyses organized participants’ ideas into clusters of ideas that then informed the conceptual model.
Results: One hundred and ninety-nine statements were generated. Considerable overlap was observed between groups, and four major clusters were observed - Psychosocial, Physical, Treatment and Employment - each with between two and six subclusters. Content analysis revealed that elements of the Psychosocial cluster were sufficiently distinct to be split into Psychological and Social, and a further cluster of elements termed Positive Effects also emerged. Finally, a hypothesized structure was proposed with six domains and 16 subdomains. New domains not previously considered in the back pain field emerged for psychometric verification: loss of independence, worry about the future, and negative or discriminatory actions by others.
Conclusions: Using a grounded approach, an explicit a priori and testable model of the overall burden of low back pain has been proposed that captures the full breadth of the burden experienced by patients and observed by experts.

Oxygen-dependence of metabolic rate in the muscles of craniates

We present evidence that oxygen consumption (V_O2 ) is oxygen partial pressure (P_O2) dependent in striated muscles and P_O2 -independent in the vasculature in representatives of three craniate taxa: two teleost fish, a hagfish and a rat. Blood vessel V_O2 displayed varying degrees of independence in a P_O2 range of 15–95 mmHg, while V_O2 by striated muscle tissue slices from all species related linearly to P_O2 between 0 and 125 mmHg, despite V_O2 rates varying greatly between species and muscle type. In salmon red muscle, lactate concentrations fell in slices incubated at a P_O2 of either 30 or 100 mmHg, suggesting aerobic rather than anaerobic metabolism. Consistent with this finding, potential energy, a proxy of ATP turnover, was P_O2 -dependent. Our data suggest that the reduction in V_O2 with falling P_O2 results in a decrease in ATP demand, suggesting that the hypoxic signal is sensed and cellular changes effected. Viability and diffusion limitation of the preparations were investigated using salmon cardiac and skeletal muscles. Following the initial P_O2 depletion, reoxygenation of the Ringer bathing salmon cardiac muscle resulted in V_O2^s that was unchanged from the first run. V_O2 increased in all muscles uncoupled with p-trifluoromethoxylphenyl-hydrazone (FCCP) and 2,4-dinitrophenol (DNP). Mitochondrial succinate dehydrogenase activity, quantified by reduction of 3-(4,5-dimethylthiazol)-2,5-diphenyl-2H-tetrazolium bromide (MTT) to formazan, was constant over the course of the experiment. These three findings indicate that the tissues remained viable over time and ruled out diffusion-limitation as a constraint on V_O2.

The politics of Timor-Leste : democratic consolidation after intervention

The Politics of Timor-Leste explores the critical issues facing the Asia-Pacific's youngest nation as it seeks to consolidate a democracy following years of international intervention. The authors study the challenges that have burdened the state since it broke from Indonesia amid the violence of 1999 and formally achieved full independence in 2002. They assess the notable accomplishments of Timor-Leste’s leaders and citizens, and consider the country’s future prospects as international organizations prepare to depart. A close study of Timor-Leste sheds light on ambitious state-building projects that have been initiated, with varying success, across the globe.

Contributors to this volume map the nation’s recent political evolution through studies of its constitutional debates, political parties, and foreign policy responses to powerful neighbors. They address the social and economic conditions that complicate Timor-Leste’s political development, such as gender discrimination, poverty, corruption, and security-sector volatility. The contemporary history of Timor-Leste reflects the experiences of many postcolonial and developing countries that have sought to establish a viable state following conflict and a declaration of independence. This small nation has been the subject of five consecutive UN missions with varying mandates. The Politics of Timor-Leste ought to serve as a key source for comparative postcolonial studies and a guide to future trends in international state-building and assistance.

US foreign policy in the Middle East : the roots of anti-Americanism

Over the last sixty years, Washington has been a major player in the politics of the Middle East. From Iran in the 1950s, to the Gulf War of 1991, to the devastation of contemporary Iraq, US policy has had a profound impact on the domestic affairs of the region. Anti-Americanism is a pervasive feature of modern Middle East public opinion. But far from being intrinsic to ‘Muslim political culture’, scepticism of the US agenda is directly linked to the regional policies pursued by Washington. By exploring critical points of regional crisis, Kylie Baxter and Shahram Akbarzadeh elaborate on the links between US policy and popular distrust of the United States. The book also examines the interconnected nature of events in this geo-strategically vital region. Accessible and easy to follow, it is designed to provide a clear and concise overview of complex historical and political material. Key features include: •maps illustrating key events and areas of discontent •text boxes on topics of interest related to the Arab/Israeli Wars, Iranian politics, foreign interventions in Afghanistan and Iraq, the wars of the Persian Gulf, September 11 and the rise of Islamist movements •further reading lists and a selection of suggested study questions at the end of each chapter.

Assessment and the promotion of academic values

This paper raises issues concerning the relationship between student assessment and the values which academic institutions propagate. It argues that many current assessment practices are incompatible with the goals of independence, thoughtfulness and critical analysis to which most academics would subscribe; that forms of assessment which are commonplace are not consistent with the behaviour of academics in their own contributions to knowledge; and that there is evidence to suggest that the assessment policy of many departments undermines deep approaches to learning on the part of students. Some indications are given of possible strategies to address the problems which have been identified, drawing upon ideas from academic and professional practice in general and self-assessment and peer review in particular.

The potential adoption of IFRS for U.S. Issuers: a textual analysis of responses to the proposal

This paper uses textual analysis to analyse the comments received by the U.S. SEC on the proposal to allow U.S. listed companies to prepare financial statements following International Financial Reporting Standards (IFRS). The paper contributes to the understanding of the overall desirability of international accounting convergence as well as the politics involved in attempting to reach consensus on such decisions. Most respondents supported the proposal. Respondents outlined the advantages of adopting IFRS as enhanced comparability, simplification, cost savings, extensive information sets, its capacity to improve the standard setting process, and its potential to serve U.S. interests. On the other hand, a minority of respondents were not supportive of the proposal. There was criticism of the lack of independence, enforcement mechanisms and resource availability of the IASB; the deleterious effect on U.S. interests; the questionable quality of the IFRS; and the perceived myths of convergence. Following the review of such comments, the paper outlines the implications of such a potential adoption of IFRS in U.S. to the Asian region as the pressure to extend IFRS to non-listed companies mounts. The paper also argues that Asian countries need to lobby for higher representation on the IASB and consider local customs, law and context while adopting IFRS, as such factors have been stressed upon by U.S. respondents to the SEC’s proposal.