Comparing the Networks of Ethnic Japanese and Ethnic Chinese in International Trade

In this paper I re-examined the trade enhancing effects of ethnic Chinese networks, found by Rauch and Trindade (2002), on a newer and extended data set. The effects are estimated by the gravity equation with the product of the population ratio (or absolute number) of the ethnic Chinese in both the importing and exporting countries, and are reaffirmed positive and statistically significant. I also compared the effects of two different ethnic Japanese networks, i.e., the networks of long-term Japanese stayers in foreign countries, and the networks of permanent Japanese residents in foreign countries. It is found that the former has stronger trade enhancing effects than the latter. This shows that the effects of ethnic networks on international trade can be generalized beyond the ethnic Chinese, and the ’cohesiveness’ of the ethnic network matters to the trade enhancing effects of the network.

Transformation of the Financial Sector in Indonesia

Introduction : The source and deployment of finance are central issues in economic development. Since 1966, when the Soeharto Administration was inaugurated, Indonesian economic development has relied on funds in the form of aid from international organizations and foreign countries. After the 1990s, a further abundant inflow of capital sustained a rapid economic development. Foreign funding was the basis of Indonesian economic growth. This paper will describe the mechanism for allocating funds in the Indonesian economy. It will identify the problems this mechanism generated in the Indonesian experience, and it will attempt to explain why there was a collapse of the financial system in the wake of the Asian Currency Crisis of 1997. History of the Indonesian Financial system The year 1966 saw the emergence of commercial banks in Indonesia. It can be said that before 1966 a financial system hardly existed, a fact commonly attributed to economic disruptions like the consecutive runs of fiscal deficit and hyperinflation under the Soekarno Administration. After 1996, with the inauguration of Soeharto, a regulatory system of financial legislation, e.g. central banking law and banking regulation, was introduced and implemented, and the banking sector that is the basis of the current financial system in Indonesia was built up. 　　　The Indonesian financial structure was significantly altered at the first financial reform of 1983. Between 1966 and 1982, the banking sector consisted of Bank Indonesia (the Central Bank) and the state-owned banks. There was also a system for distributing the abundant public revenue derived from the soaring oil price of the 1970s. The public finance distribution function, incorporated in Indonesian financial system, changed after the successive financial reforms of 1983 and 1988, when there was a move away from the monopoly-market style dominated by state-owned banks (which was a system of public finance distribution that operated at the discretion of the government) towards a modern market mechanism. The five phases of development The Indonesian financial system developed in five phases between 1966 and the present time. The first period (1966-72) was its formative period, the second (1973-82) its policy based finance period under soaring oil prices, the third (1983-91) its financial-reform period, the fourth (1992-97) its period of expansion, and the fifth (1998-) its period of financial restructuring. The first section of this paper summarizes the financial policies operative during each of the periods identified above. In the second section changes to the financial sector in response to policies are examined, and an analysis of these changes shows that an important development of the financial sector occurred during the financial reform period. In the third section the focus of analysis shifts from the general financial sector to particular commercial banks’ performances. In the third section changes in commercial banks’ lending and fund-raising behaviour after the 1990s are analysed by comparing several banking groups in terms of their ownership and foundation time. The last section summarizes the foregoing analyses and examines the problems that remain in the Indonesian financial sector, which is still undergoing restructuring.

Diseño de instrumentos para configurar una política industrial en España basada en los postulados de la economía evolutiva

La evidencia empírica aplicada a países de cierto tamaño y desarrollo económico, muestra que existe una relación directa y positiva entre la intensidad de la industria manufacturera, medida como porcentaje de su PIB, y ciertas variables económicas como, el crecimiento, el desempleo y la balanza exterior de bienes y servicios. En el caso de esta última, se verifica empíricamente, que los países con una proporción de actividad manufacturera inferior al 20%, tienen una marcada tendencia a presentar déficits crónicos de balanza de bienes y servicios, lo que conduce a persistentes déficits por cuenta corriente, al ser el primer déficit el principal componente del segundo. Esto trae consigo un continuado incremento del endeudamiento externo que no cesa, y que terminará en algún momento por desequilibrar el conjunto de la economía de los países con esos déficits crónicos. Las anteriores conclusiones, abren una vía de orientación de la política económica, que tiene como objetivo la promoción de la industria manufacturera de cada país. Y esto es un hecho ya en 2014. Países relevantes, como Alemania o Francia en la UE, incluso los EEUU y últimamente el Reino Unido, y por supuesto países del área asiática como Japón, Corea del Sur y China, llevan años promoviendo su industria manufacturera. Resulta significativo, que el debate ideológico sobre la bondad de la aplicación política industrial por parte de los gobiernos, frente a las teorías liberales de mantener a los poderes públicos lejos de ese tipo de actividades, haya dado paso a un modelo generalizado de corte más bien horizontal, donde los países casi sin excepciones apoyan el desarrollo de sus empresas con numerosos instrumentos, que van bastante más lejos de los habituales de I+D. Se valora por tanto, la industria manufacturera como algo vital para el equilibrio económico. Incluso la UE, defensora durante décadas de la no intervención de los diferentes Estados miembros en actividades de promoción industrial más allá del apoyo a las actividades de I+D, realiza un giro copernicano, que termina en 2012 proclamando que la industria manufacturera es vital para el equilibrio económico de la UE, que hay que promoverla, e incluso marca un objetivo, precisamente del 20%, como contribución manufacturera a su PIB. Es decir, se da por asumido que los servicios no son un sustituto indefinido de la industria y que por tanto tienen un límite, lo que se contrapone frontalmente contra la anterior creencia de que el aumento de la participación de los servicios en la economía, no solo era bueno, sino un síntoma de desarrollo. Esta premisa ya ha dejado de ser cierta para esos y otros países. En cambio, en España nada de esto sucede en las dos últimas décadas, sino que la industria manufacturera no recibe especial atención de los poderes públicos y se desliza en una pendiente de disminución de su contribución al PIB, que incluso se acelera con la crisis económica que comienza en 2007, hasta alcanzar cifras del orden del 12% del PIB en 2013. La política económica que se aplica es la de la deflación de costes, con los efectos consecuentes sobre los salarios y sobre la capacidad de la economía de generar riqueza. Se apuesta por un modelo de mano de obra barata, que recuerda al de los años 60. Como indicador relevante de esta situación, lo que exporta la industria manufacturera española, no ha ganado en contenido tecnológico en los últimos quince años. Esta situación se ve empeorada por un hecho significativo adicional, y es que casi el 40% de las ventas de la industria manufacturera española provienen de empresas de propiedad extranjera, con lo que eso supone por una parte de dependencia tecnológica del exterior como en el caso del automóvil, y de incertidumbre sobre su futuro, al estar basadas en el mantenimiento en el futuro de una mano de obra barata, que frenará que los españoles que trabajan en esas empresas, progresen económicamente. La propuesta de esta Tesis, es en cambio apostar por un modelo de crecimiento para España que tenga como uno de sus pilares el desarrollo de una industria manufacturera sólida y con cada vez mayor contenido tecnológico. Para ello, se propone un Plan de política industrial, donde se incluye la creación de actores impulsores de este plan, que deben ser del máximo nivel político. Si los diferentes gobiernos no entienden y asumen esta necesidad de apoyo a la industria a largo plazo e independiente de los cambios políticos, no será posible llevar a cabo este Plan. Para su puesta en marcha, se propone la creación o refuerzo de numerosos instrumentos de apoyo a la industria manufacturera de carácter fundamentalmente horizontal que van mucho más allá de los habituales del I+D, y que en varios casos, tienen una clara semejanza con otros existentes ya en otros países desarrollados desde hace años. La promoción de la industria manufacturera necesita nuevos instrumentos, como una financiación a largo plazo para las empresas, una promoción ordenada y eficaz de la actividad internacional de las empresas exportadoras, la mayoría de las cuales exportan productos manufacturados, una educación y formación profesional que esté alineada con estos objetivos, unos instrumentos que apoyen en especial el desarrollo la industria manufacturera, o la participación minoritaria pero significativa, del Estado en empresas españolas pertenecientes a sectores estratégicos entre otros. En resumen, esta Tesis propone una alternativa de política económica radicalmente diferente a la de dejar la industria manufacturera española a su suerte, y basar el futuro económico de España en una mano de obra barata. ABSTRACT The empirical evidence, applied to countries of certain size and economic development, shows that there exists a direct and positive relationship between industrial manufacturing activity, measured as a percentage of GDP, and certain economic variables, such as growth, unemployment and the foreign balance of trade. In the case of the latter, it is verified empirically that the countries with a percentage of manufacturing activity below 20% have a marked tendency for chronic deficits of the balance of trade, leading to persistent deficits in the current account, being that the former deficit is the main component of the latter. This brings about a continued increase in foreign debt that does not cease, and that will end at some point by disrupting the economy of the countries with these chronic deficits. The previous conclusions open the way to a new direction for economic policy, which promotes industrial manufacturing in each country. This is already a fact in 2014. Relevant countries, such as Germany or France in the EU, even the US and ultimately the UK, and of course countries of East Asia such as Japan, South Korea and China, have been promoting their industrial manufacturing for years. It becomes significant that the ideological debate about the goodwill of the application of industrial policy by governments, against liberal theories that maintain public powers far from these kinds of activities, has taken a step towards a horizontal-cut generalized model, where countries, with almost no exception, rely on various instruments to develop their companies that go much further than the usual R&D. Industrial manufacture is therefore valued as vital for economic stability. Even the EU, proponent for decades of non-intervention policy that goes beyond R&D, has gone full circle, ending in 2012 by proclaiming that industrial manufacture is vital for the economic stability of the EU, that it must be promoted. They even mark precisely 20% as an objective for manufacturing as a percentage of GDP. In other words, it is a given that services are not an indefinite substitute for industry, and that therefore it has a limit as such. This rejects the notion that the increase in services at the cost of manufacture is not only healthy, but is also a symptom of development. This premise is no longer true for these and other countries. On the other hand, none of this happens in Spain, where industrial manufacture receives no special attention from the public authorities, and it slides on a downward slope of percentage contribution to GDP, which accelerates the economic crisis that begins in 2007, until manufacture reaches values of around 12% of GDP in 2013. The economic policy applied is that of cost deflation, with consequential effects on wages and the capacity of the economy to generate wealth. A model is proposed for cheaper labor, akin to that of the 1960s. As a relevant indicator of this situation, manufacturing exports from Spain have not grown technologically in the last 15 years. The situation is made worse by another significant fact: almost 40% of sales of the manufacturing industry originate from companies of foreign origin, which supposes on one hand a technological dependence on foreign countries, such as in the case of the automotive industry, and on the other hand uncertainty in its future, being that they are based on maintaining cheap labor in the future, which will slow economic progress of Spaniards working in these companies. The proposition of this Thesis is to bet on a growth model for Spain that has as one of its pillars the development of a solid manufacturing industry, with increasing technological content. For this, an industrial policy plan is proposed, which includes the creation of driving agents for this plan, which must be of maximum political level. If the various governments don’t understand and assume this necessity for support of industry in the long term, independent of political change, this plan will not be accomplished. To start it, the creation or reinforcement of numerous instruments to promote the manufacturing activities are proposed, with a fundamentally horizontal nature that goes far beyond the usual R&D, and that, in several cases, have a clear similarity with others existing in other countries, having been developed for years. The promotion of the manufacturing industry needs new instruments, such as the long-term financing of companies, an orderly and efficient promotion of international activity of exporting companies, the most of which export manufactured goods, education and professional training which is in tune with these objectives, some instruments which support in particular the development of the manufacturing industry, or the minor yet significant participation of the State in Spanish companies belonging to strategic sectors, among others. In summary, this Thesis proposes an different alternative to the economic policy of leaving the manufacturing industry of Spain to its chances, and to base the economic future of Spain on a cheaper labor force.

La perspectiva de género desde el estudio de la familia cubana

Este trabajo presenta una investigación antropológica de carácter cualitativo que trata de mostrar la institución familiar y las relaciones de género, como inseparables del contexto sociocultural en el que se inscriben. Así, se tiene en cuenta de qué forma la dinámica y características de la familia se modelan en función de aspectos históricos, políticos, económicos e ideológicos. En particular, se analiza el caso cubano con el objetivo de averiguar hasta qué punto su pasado colonial y la incidencia de un Gobierno que, desde su instauración en 1959, proclamó su interés por lograr la igualdad entre géneros e incentivó la presencia de las mujeres en el espacio público, han incidido en el cambio o transformación de la familia y en la situación de la mujer cubana tanto dentro como fuera de la Isla.

Preferential trade agreements and antidumping actions against members and nonmembers

In a three-country oligopoly model, this paper analyzes a country's decisions concerning antidumping (AD) action against two foreign countries and the relationship between those decisions and regional trade agreements (RTAs). An RTA intensifies product-market competition in the markets of member countries and lowers product prices, while it raises export prices of goods subject to tariff reductions. This effect widens the dumping margin of the non-member firm and narrows the dumping margin of the member firm. If the government is more concerned with domestic firm profit in its AD decision, the RTA may invoke the member's AD action against the nonmember. If the governments attach a sufficiently high value on social welfare, however, the RTA may promote the AD action against the member. If the governments' weight on the domestic firm's profit is neither high nor low, an RTA may block the AD actions against both countries.

American oil operations abroad,

"Based upon the report of the Group on American petroleum interests in foreign countries to the Special committee investigating petroleum resources, Senator Joseph C. O'Mahoney, chairman."--Pref.

[Culinary ephemera : gelatin and tapioca].

Corporate contributors include: Genesee Pure Food Company; Jell-O-Co. Inc.

American medical directory.

"Directory of physicians in the United States, Canal Zone, Puerto Rico, Virgin Islands, certain Pacific islands and U.S. physicians temporarily located in foreign countries."

Investigation of concentration of economic power; monograph no. 1[-43]

Printed for the use of the Temporary National Economic Committee.

The Gentleman's magazine library : being a classified collection of the chief contents of the Gentleman's magazine from 1731 to 1868 /

Includes bibliographical references.

Statistisk tidskrift. Statistical review.

Vols. for 1895-1903 include also statistical tables of foreign countries, "Statistiska ofversigtstabeller for olika länder".

Symposium on mathematics for engineering students being the proceedings of the joint sessions of the Chicago section of the American mathematical society and Section A, Mathematics, and Section D, Mechanical science and engineering of the American Association for the Advancement of Science held at the University of Chicago December 30 and 31, 1907.

Caption title: The American Association for the Advancement of Science. Section D--Mechanical science and engineering. Engineering Mathematics symposium.

International Chinese business directory of the world /

Cover title.

Trade and economic review for ... /

Description based on: 1921, no. 1; title from caption.

CHRI user's manual : criminal history record information /

This guide provides examples of juvenile and adult arrest fingerprint cards with instructions and additional record forms.