The role of education in equity portfolios during the recent financial crisis

Using a panel of 38 economies, over the period 2001 to 2010, we analyse the link between diversification in equity portfolios and different facets of education. We find that traditionally used measures of education play an important role in reducing equity home bias. After separating countries according to their level of financial development, we find that less developed economies tend to benefit more from an improvement in the level of education compared to their more developed counterparts. We also find that the beneficial effect of education is more pronounced during the most recent financial crisis, especially for economies with less developed financial markets.

Disputes, Debt and Equity

We show how the prospect of disputes over firms’ revenue reports promotes debt financing over equity. These findings are presented within a costly state verification model with a risk averse entrepreneur. The prospect of disputes encourages incentive regimes which limit penalties and avoid stochastic monitoring, even when the lender can commit to stochastic enforcement strategies. Consequently, optimal contracts shift away from equity and toward standard debt. For a useful special case of the model, closed form solutions are presented for leverage and consumption allocations under efficient debt contracts.

Education and the local equity bias around the world

Using a panel of 38 economies, over the period 2001 to 2010, we analyse the link between different facets of education and diversification in international portfolios. We find that university education, mathematical numeracy, in addition to financial skill, play an important role in reducing home bias. After separating countries according to their level of financial development, we find that less developed economies with more university graduates, or with higher level of mathematical numeracy, have lower level of local equity bias compared to more developed countries. We also find that the beneficial effect of education is more pronounced during the most recent financial crisis, especially for economies with less developed financial markets.

Health Equity Audit - overview

Presentation given at the APHO Staff Conference 2004. Includes slides about how the distribution of a variable (inequality) can theoretically be modified and how a Lorenz curve is drawn and Gini coefficient calculated.

Clarifying approaches to: health needs assessment, health impact assessment, integrated impact assessment, health equity audit, and race equality impact assessment

Planners, policy makers and practitioners across all sectors in England use a range of approaches to assess health needs, inform decisions and assess impact. Use of these approaches can lead to improved health outcomes and reduced inequalities through auditing provision, access and outcomes. Five main approaches are used by local, regional and national government, voluntary agencies and the NHS: ۢ Health needs assessment (HNA) ۢ Health impact assessment (HIA) ۢ Integrated impact assessment (IIA) ۢ Health equity audit (HEA) ۢ Race equality impact assessment (REIA)

Health equity audit - learning from practice briefing

This briefing provides a summary of learning from three workshops on HEA, and examples of completed or near-completed HEAs to illustrate these learning points. It is recognised that this experience is evolving.

Health Equity Audit Made Simple: A briefing for Primary Care Trusts and Local Strategic Partnerships

A working/ consultation document outlining the key drivers and steps for undertaking health equity audit as required in the Performance and Planning Framework (PPF) 2003-2006

Commissioning for equity. A briefing on inequalities in access to revascularisation in the NHS and in the independent sector among London residents

This briefing describes inequalities in access to revascularisation using data from both the NHS and the independent sector.

Commissioning for equity. Inequalities in access to revascularisation in the NHS and in the independent sector. A technical report

This document describes the methodology for examining inequalities in access to revascularisation in the NHS and in the independent sector. It is a technical report.

Commissioning for equity. Equal access, equal care? Main report

This report has been produced by the London Health Observatory (LHO) for the London Development Centre to provide a London baseline for monitoring specific actions in the Delivering Race Equality (DRE) action plan . The report summarises the findings of an analysis of the information collected from all of London's nine Mental Health NHS providers, and 22 independent providers for the national census of inpatients in mental health hospitals and facilities in England and Wales on 31 March 2005.

Commissioning for equity. Equal access, equal care? Can London deliver the race equality action plan for mental health? Executive summary

This report has been produced by the London Health Observatory (LHO) for the London Development Centre to provide a London baseline for monitoring specific actions in the Delivering Race Equality (DRE) action plan. The report summarises the findings of an analysis of the information collected from all of London's nine Mental Health NHS providers, and 22 independent providers for the national census of inpatients in mental health hospitals and facilities in England and Wales on 31 March 2005 .

World class healthcare for London. Mind the gap! A briefing on equity of health and healthcare in the capital

This briefing provides an overview of equity of access to some of the essential elements of healthcare in the capital

Commissioning for equity. Stop gaps: equity of access to London's stop smoking services

This briefing looks at who is making use of NHS stop smoking services in the London area.

Making the case: Health Equity Audit

A briefing aiming to provide guidance to the NHS and local government on undertaking HEA. Aims to increase understanding of the impact of social, economic and environmental influences on health and health inequalities, and to promote effective action.

Supporting Equity in Higher Education

The rationale for this review centres solely on the need to broaden access to third-level education in order to improve equity and social justice. It is founded on the Government’s social and economic policy objective of reducing and eliminating educational disadvantage, and increasing participation at third level by lower socio-economic groups. The Agreed Programme for Government of June 2002 commits the Government to building a caring and inclusive society and to achieving real and sustained social progress. Similar commitments are reflected in the National Development Plan, the National Anti-Poverty Strategy, the National Children’s Strategy and successive national partnership agreements, including Sustaining Progress. Tackling educational disadvantage is a core principle of social justice. The issues of educational disadvantage and social inclusion, therefore, are key priorities for the Government and, since taking up office, the Minister for Education and Science has emphasised his commitment to improving participation and achievement at every level of education. The need for interventions throughout the education system is well recognised. It is well established that addressing educational disadvantage requires intervention in the context of a continuum of provision from early childhood through to adulthood. Successive governments, of all political persuasions, have recognised this fact and have introduced a range of initiatives at pre-primary, primary and post-primary levels aimed at increasing pupil retention and achievement. These initiatives are currently being reviewed in order to ensure that individuals are enabled to obtain the appropriate supports they require to maximise the benefit they derive from the education system.