Banking regulation and market forces in Australia

The purpose of this paper is to use Kane's notion of the regulatory dialectic to analyse the changing nature of bank regulation in Australia. Throughout Australia's economic history, economic regulation of the Australian banking system has not been static but has responded to changes in technology, market forces, and the behaviour of regulated institutions. From this analysis, some inferences about general banking principles and policy can be made.

Enhancement of transient stability limit and voltage regulation with dynamic loads using robust excitation control

In stressed power systems with large induction machine component, there exist undamped electromechanical modes and unstable montonic voltage modes. This article proposes a sequential design of an excitation controller and a power system stabiliser (PSS) to stabilise the system. The operating region, with induction machines in stressed power systems, is often not captured using a linearisation around an operating point, and to alleviate this situation a robust controller is designed which guaruntees stable operation in a large region of operation. A minimax linear quadratic Gaussian design is used for the design of the supplementary control to automatic voltage regulators, and a classical PSS structure is used to damp electromechanical oscillations. The novelty of this work is in proposing a method to capture the unmodelled nonlinear dynamics as uncertainty in the design of the robust controller. Tight bounds on the uncertainty are obtained using this method which enables high-performance controllers. An IEEE benchmark test system has been used to demonstrate the performance of the designed controller

Has international trade in saving improved US economic welfare?

Over the past decade international policy-makers have perceived the current account deficit of the world's largest foreign borrower economy, the United States, as a threat to global economic and financial stability. Yet, by bridging the US domestic saving-investment gap, capital inflow that matched the huge US current account deficit also enabled a faster rate of domestic capital accumulation than home saving alone would have permitted. Consistent with the theory of international capital movements, this study identifies and compares the respective contributions of domestic and foreign saving to US gross domestic product per worker over the two decades prior to the onset of the US banking crisis. By revealing that foreign borrowing contributed significantly to raising US output and hence living standards over this period, it adds a new dimension to the debate about global imbalances.

Assisting Australians with mental health problems and financial difficulties: a Delphi study to develop guidelines for financial counsellors, financial institution staff, mental health professionals and carers

BACKGROUND: There is a strong association between mental health problems and financial difficulties. Therefore, people who work with those who have financial difficulties (financial counsellors and financial institution staff) need to have knowledge and helping skills relevant to mental health problems. Conversely, people who support those with mental health problems (mental health professionals and carers) may need to have knowledge and helping skills relevant to financial difficulties. The Delphi expert consensus method was used to develop guidelines for people who work with or support those with mental health problems and financial difficulties.

METHODS: A systematic review of websites, books and journal articles was conducted to develop a questionnaire containing items about the knowledge, skills and actions relevant to working with or supporting someone with mental health problems and financial difficulties. These items were rated over three rounds by five Australian expert panels comprising of financial counsellors (n = 33), financial institution staff (n = 54), mental health professionals (n = 31), consumers (n = 20) and carers (n = 24).

RESULTS: A total of 897 items were rated, with 462 items endorsed by at least 80 % of members of each of the expert panels. These endorsed statements were used to develop a set of guidelines for financial counsellors, financial institution staff, mental health professionals and carers about how to assist someone with mental health problems and financial difficulties.

CONCLUSIONS: A diverse group of expert panel members were able to reach substantial consensus on the knowledge, skills and actions needed to work with and support people with mental health problems and financial difficulties. These guidelines can be used to inform policy and practice in the financial and mental health sectors.

Assisting Australians with mental health problems and financial difficulties: a Delphi study to develop guidelines for financial counsellors, financial institution staff, mental health professionals and carers

Background: There is a strong association between mental health problems and financial difficulties. Therefore, people who work with those who have financial difficulties (financial counsellors and financial institution staff) need to have knowledge and helping skills relevant to mental health problems. Conversely, people who support those with mental health problems (mental health professionals and carers) may need to have knowledge and helping skills relevant to financial difficulties. The Delphi expert consensus method was used to develop guidelines for people who work with or support those with mental health problems and financial difficulties. Methods: A systematic review of websites, books and journal articles was conducted to develop a questionnaire containing items about the knowledge, skills and actions relevant to working with or supporting someone with mental health problems and financial difficulties. These items were rated over three rounds by five Australian expert panels comprising of financial counsellors (n∈=∈33), financial institution staff (n∈=∈54), mental health professionals (n∈=∈31), consumers (n∈=∈20) and carers (n∈=∈24). Results: A total of 897 items were rated, with 462 items endorsed by at least 80 % of members of each of the expert panels. These endorsed statements were used to develop a set of guidelines for financial counsellors, financial institution staff, mental health professionals and carers about how to assist someone with mental health problems and financial difficulties. Conclusions: A diverse group of expert panel members were able to reach substantial consensus on the knowledge, skills and actions needed to work with and support people with mental health problems and financial difficulties. These guidelines can be used to inform policy and practice in the financial and mental health sectors.

Development of a condition-specific measure of quality of life for children with cerebral palsy: empirical thematic data reported by parents and children

Background: Although there is increasing recognition that quality of life (QOL) and health-related quality of life (HRQOL) are important outcome variables in clinical trials for children with cerebral palsy, there are substantial limitations in existing measures of QOL. This study identify themes of QOL for children with cerebral palsy and their parents to guide the development of a new condition-specific QOL scale. Methods: A qualitative study of parent and child views on QOL composition was conducted, using a grounded theory framework. Families participated in semistructured interviews on QOL until thematic saturation was reached (n = 28 families). Results: Overall, 13 themes emerged from the interviews: physical health, body pain and discomfort, daily living tasks, participation in regular physical and social activities, emotional well-being and self-esteem, interaction with the community, communication, family health, supportive physical environment, future QOL, provision of, and access to services, financial stability, and social well-being. Conclusions: Research with parents and children with cerebral palsy, representative of severity across the disease spectrum and socio-economic status, reinforced and expanded on the traditional themes that have underpinned QOL measurement development. This has implications not only for the development of a new QOL scale for children with cerebral palsy, but also for clinical interventions and community care management.

Applying critical discourse analysis in strategic management research

Critical discourse analysis has become an increasingly popular methodology in organization and management studies. In this article, the authors explore the potential for this methodology to be more widely used in strategic management research. They begin by identifying three research approaches that, to a greater or lesser extent, share a concern with the relationship between language and the formulation and implementation of strategy—strategy as a system of shared meaning, strategy as text and talk, and strategy as truth. They then discuss how critical discourse analysis can be used to extend and develop these approaches by exploiting their underlying complementarities. Finally, using the example of a recently completed case study of strategic change in a large banking and financial services institution, they explore the practical implications of applying critical discourse analysis in strategic management research.

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.

The impact of caring for a child with cerebral palsy : quality of life for mothers and fathers

Background:  Although it is expected that caring for a child with cerebral palsy (CP) can impact on the quality of life (QOL) of caregivers, the QOL of carers' has yet to be adequately examined. The aims of this study are to: (1) explore the QOL of mothers and fathers of children with CP aged 3–18 years; and (2) examine whether the impact of caring for a child with CP changes from childhood to adolescence.

Method: A qualitative study was conducted utilizing a grounded theory framework. Twenty-four mothers and 13 fathers of children and adolescents with CP aged 3–7 years (n = 15), 8–12 years (n = 10) and 13–18 years (n = 12) and with varying levels of impairment (GMFCS Level I = 1, II = 4, II = 3, IV = 5, V = 12) participated in semi-structured interviews about their QOL. The transcripts were analysed to identify issues affecting parental QOL.

Results: There were no differences in parental QOL among subgroups (i.e. mothers and fathers, age groups, GMFCS levels). Parental QOL ranged across a wide spectrum. Caring for a child with CP affects a parent's physical well-being, social well-being, freedom and independence, family well-being and financial stability. Parents indicated that they often feel unsupported by the services they access.

Conclusions: Caring for a child with CP can both positively and negatively impact on a parent's life. There is value for both parents and children if parental concerns and determinants of QOL are considered in overall programme planning and service delivery for children and their families.

An empirical analysis of the factors affecting bank crises in Japan : learning points for Bangladesh

This paper analyzes the factors that affect bank crises in Japan. There are numerous factors, qualitative and quantitative, identified from the analysis. For the quantitative analysis, the study employs the factor analysis, which detects three major components of factors that affect banking or financial crises in Japan. These are (i) common macro factors; (ii) bank sensitive micro factors; and (iii) household spending related factors. There are other factors, for example, policy dilemma, delayed or faulty deregulation measures and weak banking activities, which are not extracted from the factor analysis but adversely affect bank crises in Japan and hence discussed in details. The paper indicates some policy implications for the banking/financial sector of Bangladesh.

Poetic boundary conditions : Australian poets in the ivory tower

This article explores the experience of women poets in academe and posits that by institutionalising themselves in universities, women poets gain financial stability by working in the wider field of poetry. However, they also face discrimination and a lack of opportunity in these workplaces. The article uses two case studies of poets Maria Takolander and Jill Jones, who work at Deakin University and the University of Adelaide, Australia, respectively. These case studies show the way in which these poets explore the experience of academe in their poetry.

Street vendors in Patna, India: understanding the socio-economic profile, livelihood and hygiene practices

Street food vending is fundamental to daily life in many low and middle income countries where much of the urban population rely on food provided by street vendors. While street vendors are known to be important providers of food; limited research has investigated vendor's hygiene practices and their socioeconomic circumstances in India. The aims of this study were to investigate the hygienic practices of food vendors and the context of their socioeconomic and living circumstances. Structured interviews were conducted with 31 street food vendors in Patna, India. The interviews explored issues around vending, hygiene practices, planning, and financial stability. Findings from this study indicate that food vendors are aware of good basic hygiene practices despite having low levels of literacy, low incomes, and limited job security.

The market for financial report audits : regulation of and competition for auditor independence

The independence of auditors and the quality of financial report audits generally are rarely tested except in circumstances of corporate failure when alleged sub-optimality is present. Often auditors have good defences as to their expertise or competency, but rarely do they have equally convincing defences for the independence of their audit. A major issue for the regulation of auditor independence is that the threats to independence are often subtle and difficult to measure. This paper argues that firms undertaking financial report audits need to be transparent and competitive in respect of auditor independence. Two models that adopt this premise are proposed.