The politics of knowledge in central Asia:science between Marx and the market

Through careful historical and ethnographic research and extensive use of local scholarly works, this book provides a persuasive and careful analysis of the production of knowledge in Central Asia. The author demonstrates that classical theories of science and society are inadequate for understanding the science project in Central Asia. Instead, a critical understanding of local science is more appropriate. In the region, the professional and political ethos of Marxism-Leninism was incorporated into the logic of science on the periphery of the Soviet empire. This book reveals that science, organizes and constructed by Soviet rule, was also defined by individual efforts of local scientists. Their work to establish themselves 'between Marx and the market' is therefore creating new political economies of knowledge at the edge of the scientific world system.

Capital markets and the market structure of foreign investments

Contrary to the long-received theory of FDI, interest rates or rates of return can motivate foreign direct investment (FDI) in concert with the benefits of direct ownership. Thus, access to investor capital and capital markets is a vital component of the multinational’s competitive market structure. Moreover, multinationals can use their superior financial capacity as a competitive advantage in exploiting FDI opportunities in dynamic markets. They can also mitigate higher levels of foreign business risks under dynamic conditions by shifting more financial risk to creditors in the host economy. Furthermore, the investor’s expectation of foreign business risk necessarily commands a risk premium for exposing their equity to foreign market risk. Multinationals can modify the profit maximization strategy of their foreign subsidiaries to maximize growth or profits to generate this risk premium. In this context, we investigate how foreign subsidiaries manage their capital funding, business risk, and profit strategies with a diverse sample of 8,000 matched parents and foreign subsidiary accounts from multiple industries in 38 countries.We find that interest rates, asset prices, and expectations in capital markets have a significant effect on the capital movements of foreign subsidiaries. We also find that foreign subsidiaries mitigate their exposure to foreign business risk by modifying their capital structure and debt maturity. Further, we show how the operating strategy of foreign subsidiaries affects their preference for growth or profit maximization. We further show that superior shareholder value, which is a vital link for access to capital for funding foreign expansion in open market economies, is achieved through maintaining stability in the rate of growth and good asset utilization.

Liberalization and the public sector:the pre-eminent role of governments in the ‘sale’ of higher education abroad

Much recent scholarship concerning liberalization has emphasized the role of regulatees, rather than governments, in promoting liberalization. This article examines such scholarship in the light of an important development in the British and French public sectors—the creation of new agencies (the Education Counselling Service and EduFrance) to ‘sell’ British and French higher education to potential international students. The new agencies attempted to induce two things: competition amongst higher education institutions for the recruitment of international students from developed and emerging economy countries, and the commodification of these students. This article shows that, contrary to existing theories of liberalization, governments were pre-eminent in pushing forward this liberalization, while higher education institutions attempted to hold it back.

The influence of political, economic and passenger market factors on international civil aviation

Civil aviation plays an essential role in maintaining international communications. Many extraneous factors influence the daily operations of the air transport industry. This thesis begins by investigating the major categories of so­ called "external interests" in civil aviation. These are shown to have played a significant part in ensuring the need for international agreement over the adoption of regulating principles. The combination and interaction of the various influences has produced a particular type of regulatory environment in which all commercial air services have to operate. The need for such regulation and the extreme difficulty experienced in trying to define universally acceptable methods of supervision is discussed. It is shown how opportunity for the development of on-scheduled air services was created by default on the part of the European Governments.The concept of so-called "scheduled" and "non-scheduled" sectors" is considered and it is suggested that growth of the inclusive tour industry resulted from inappropriate categorisation of the air services involved. The means by which development opportunities were created for inclusive tour operations is considered and the work then investigates the importance of British air transport policy in their exploitation. The politics of British civil aviation in the post-war years is the subject of detailed examination and the process by which Independent airlines were encouraged to develop inclusive tours, is identified. This theme is expanded to demonstrate the vital contribution of British air transport policy in the restructuring of the international industry. The subsequent involvement of the United States is shown to have been directed specifically towards the satisfaction of domestic issues. British objectives, however, are considered to have been more generally concerned with improving the tariff structure. The unique opportunities for British experimentation with international fares are seen to have major influence in forcing the pace of tariff rationalisation.

Financial liberalization and stock market volatility:the case of Indonesia

This article examines the relationship between financial liberalization and stock market volatility in Indonesia. By looking at the time series properties of the Jakarta Composite Index (JCI) we identify breaks in stock market volatility which coincide with the timing of major policy events. Our main findings are (i) a significant decrease in volatility after the 'official' opening of the stock market to foreign participation; (ii) a significant increase in volatility in the year before market opening following reforms that eased entry requirements and the issuance of brokerage licenses and (iii) a significant increase in volatility at the time of the Asian crisis followed by a significant decrease in the second and sixth years after the crisis.

Entrepreneurship in transition economies:the role of institutions and generational change

The transition economies have lower rates of entrepreneurship than are observed in most developed and developing market economies. The difference is even more marked in the countries of the former Soviet Union than those of Central and Eastern Europe. We link these differences partly with the legacy of communist planning, which needs to be replaced with formal market-supporting institutions. But many of these developments have now taken place, yet entrepreneurial activity still remains low in many places. To analyse this longer term issue, we highlight the necessarily slow pace of development of new informal institutions and the corresponding social attitudes, notably rebuilding the generalised trust. We argue that changes are even slower in the former Soviet Union than Central and Eastern Europe because communist rule was much longer, leading to a lack of institutional memory. We posit that changes in informal institutions may be therefore delayed until after full generational change.

Communities and emerging semantics in semantic link network:discovery and learning

The World Wide Web provides plentiful contents for Web-based learning, but its hyperlink-based architecture connects Web resources for browsing freely rather than for effective learning. To support effective learning, an e-learning system should be able to discover and make use of the semantic communities and the emerging semantic relations in a dynamic complex network of learning resources. Previous graph-based community discovery approaches are limited in ability to discover semantic communities. This paper first suggests the Semantic Link Network (SLN), a loosely coupled semantic data model that can semantically link resources and derive out implicit semantic links according to a set of relational reasoning rules. By studying the intrinsic relationship between semantic communities and the semantic space of SLN, approaches to discovering reasoning-constraint, rule-constraint, and classification-constraint semantic communities are proposed. Further, the approaches, principles, and strategies for discovering emerging semantics in dynamic SLNs are studied. The basic laws of the semantic link network motion are revealed for the first time. An e-learning environment incorporating the proposed approaches, principles, and strategies to support effective discovery and learning is suggested.

Auto plant closures, policy responses and labour market outcomes:a comparison of MG Rover in the UK and Mitsubishi in Australia

This paper provides a preliminary comparative longitudinal analysis of the impact on workers made redundant due to the closure of the Mitsubishi plant in Adelaide and the MG Rover plant in Birmingham. Longitudinal surveys of ex-workers from both firms were undertaken over a 12-month period in order to assess the process of labour market adjustment. In the Mitsubishi case, given the skills shortage the state of Adelaide was facing, together with the considerable growth in mining and defence industries, it would have been more appropriate if policy intervention had been redirected to further training or re-skilling opportunities for redundant workers. This opportunity was effectively missed and as a result more workers left the workforce, most notably for retirement, than could have otherwise been the case. The MG Rover case was seen as a more successful example of policy intervention, with greater funding assistance available and targeted support available, and with more emphasis on re-training needs to assist adjustment. However, despite the assistance offered and the rhetoric of successful adjustment in both cases, the majority of workers have nevertheless experienced deterioration in their circumstances particularly in the Australian case where casual and part-time work were often the only work that could be obtained. Even in the UK case, where more funding assistance was offered, a majority of workers reported a decline in earnings and a rise in job insecurity. This suggests that a reliance on the flexible labour market is insufficient to promote adjustment, and that more active policy intervention is needed especially in regard to further up-skilling.

'Your situation is critical...':the discursive enactment of leadership by business women in Middle Eastern and Western European contexts

Women remain in a small minority as business leaders in both Middle Eastern (ME) and Western European (WE) regions, and indeed, past research indicates that ME women face even greater challenges as leaders than their Western counterparts. This article explores sample findings from two separate case studies, the first of a ME woman leader and the second of a WE woman leader, each conducting a management meeting with their teams. Using interactional sociolinguistic analysis, we examine the 'contextualisation cues' that index how each woman performs leadership in their respective meetings. We found that both women utilise relational practices in order to enact leadership with their subordinates, but with varying results. Whereas the ME leader deploys a confident and commanding interactional style with her colleagues, the WE leader's style is evasive and uncertain. On the basis of these two cases, the WE leader appears to face greater challenges in a male-dominated business world than the ME leader. Whereas the ME leader can rely on long-established ties of loyalty and organisation-as-family, the Western leader, within an apparently more open, democratic context, has to negotiate overwhelming turbulence and change within her company. © 2014, equinox publishing.

Sticky credit spreads, macroeconomic activity and equity market volatility

We uncover high persistence in credit spread series that can obscure the relationship between the theoretical determinants of credit risk and observed credit spreads. We use a Markovswitching model, which also captures the stability (low frequency changes) of credit ratings, to show why credit spreads may continue to respond to past levels of credit risk, even though the state of the economy has changed. A bivariate model of credit spreads and either macroeconomic activity or equity market volatility detects large and significant correlations that are consistent with theory but have not been observed in previous studies. © 2010 Nova Science Publishers, Inc. All rights reserved.

The internet:a discussion of some new and emerging threats to young people

The Internet poses a number of threats to the safety of young people. Using numerous examples, this article discusses a wide range of such threats, including: cyberstalking; the 'grooming' of potential victims of sexual abuse; a new 'wish list' scene (where teenagers encourage contact with potential abusers); the creation and distribution of child pornography; and the emergence of services that create child pornography to order. It is suggested that the latter has provided individuals with the ability to inflict sexual abuse on young people from a distance, an act the authors have termed virtual sex tourism. The final section of the article suggests that paedophiles and pornographers have been quick to adopt new technology as a means of concealing their activities. The article concludes by warning of the danger of overestimating or underestimating the threats described.