An examination of the effects of government purchases in an open economy

This paper examines the effects of permanent and transitory changes in government purchases in the context of a model of a small open economy that produces and consumes both traded and nontraded goods. The model incorporates an equilibrium interpretation of the business cycle that emphasizes the responsiveness of agents to intertemporal relative price changes. It is demonstrated that transitory increases in government purchases lead to an appreciation of the real exchange rate and an ambiguous change (although a likely worsening) in the current account, while permanent increases have an ambiguous impact on the real exchange rate and no effect on the current account. When agents do not know whether a given increase in government purchases is permanent or transitory the effect is a weighted average of these separate effects. The weights depend on the relative variances of the transitory and permanent components of government purchases. © 1985.

Modeling economy-wide vs sectoral climate policies using combined aggregate-sectoral models

Economic analyses of climate change policies frequently focus on reductions of energy-related carbon dioxide emissions via market-based, economy-wide policies. The current course of environment and energy policy debate in the United States, however, suggests an alternative outcome: sector-based and/or inefficiently designed policies. This paper uses a collection of specialized, sector-based models in conjunction with a computable general equilibrium model of the economy to examine and compare these policies at an aggregate level. We examine the relative cost of different policies designed to achieve the same quantity of emission reductions. We find that excluding a limited number of sectors from an economy-wide policy does not significantly raise costs. Focusing policy solely on the electricity and transportation sectors doubles costs, however, and using non-market policies can raise cost by a factor of ten. These results are driven in part by, and are sensitive to, our modeling of pre-existing tax distortions. Copyright © 2006 by the IAEE. All rights reserved.

Vietnam’s political economy: a discussion on the 1986-2016 period

Being a member of the thriving ASEAN and successfully implementing economic renovation (Doi Moi) have drawn the world's attention on Vietnam around the turn of the millennium. Some even expected a much faster pace of transformation, and renewed economic, AND political, reforms in Vietnam, or Doi Moi II.However, in the recent transition turmoil the Vietnamese economy has experienced some significant setback, and the solution for getting the country out of the downward spiral of low productivity, waning purchasing power and increasing costs of doing business cannot be worked out without addressing those political economy issues that have shaped the modus operandi of the nation's economic system. This article discusses the post-Doi Moi political economy in Vietnam, from 1986 to 2016 – when the 12th Congress of the Communist Party of Vietnam takes place – and prospects of reviving reform momentum in subsequent years.

Creativity and entrepreneurial efforts in an emerging economy

While much research has focused on entrepreneurship and creativity in developed economies, the notions of both topics are still embryonic in many emerging economies. This paper focuses on entrepreneurs in one such economy, Vietnam, to understand the perceptions of entrepreneurs about the role that innovation and creativity may play in their own entrepreneurial ventures and success. This is important because before reaping benefits from entrepreneurship, entrepreneurs need to decide when and on what conditions they start based on their calculations of required resources and predictions of likely outcomes. The research also sought to understand how "creativity," broadly applied ("innovation" and "creative performance") affects the ways that entrepreneurs think about and anticipate their own success and decisions. In essence, the study suggests that the higher the entrepreur’s creativity is, the more likely she or he is to start a new business and believe success will result. Future research could examine whether history, industry and geographic location matter in entrepreneurs’ perceptions as well as whether transition/emerging economies like Vietnam may have different views altogether about the two key concepts.

Resources, experience and perseverance in entrepreneurs' perceived likelihood of success in an emerging economy

This paper introduces new results obtained from a statistical investigation into a 3071-observation data set collected from a Vietnamese nationwide entrepreneurship survey. From established relationships, such factors as preparedness, financial resources and participation in social networks are confirmed to have significant effects on entrepreneurial decisions. Entrepreneurs, both financially constrained and unconstrained, who have a business plan tend to start their entrepreneurial ventures earlier. Also, financial constraints have a profound impact on the entrepreneurial decisions. When perceiving the likelihood of success to be high, an entrepreneur shows the tendency for prompt action on business ideas. But when seeing the risk of prolonging the waiting time to first revenue, a prospective entrepreneur would be more likely to wait for more favorable conditions despite the vagueness of "favorable". Additionally, empirical computations indicate that there is a 41.3% probability that an extant entrepreneur who is generating revenue sees high chance of success. Past work and entrepreneurial experiences also have positive impacts on both the entrepreneurial decisions and perceived chance of success.

‘Martial races’ and ‘imperial subjects’: violence and governance in colonial India, 1857–1914

This essay explores the specificity of colonial violence in India. Although imperial and military historians are familiar with several instances of such violence—notably the rebellion in 1857 and the 1919 massacre at the Jallianwalla Bagh in Amritsar—there is a broader, and arguably more significant, history that has largely escaped attention. In contrast to metropolitan European states, where sovereignty derived, at least in principle, from a covenant between subjects and government, the sovereign power of the colonial state was always predicated on the violent subjugation of ‘the natives’. However, while violence was integral to colonialism, such violence was never a purely metropolitan agency: most of those recruited to serve in the colonial military were, themselves, Indian. Exploring the history of the imperial military in South Asia after 1857, the paper outlines the complex and rather ambiguous relationship between the colonial state and its ‘native armies’. RESUME Cet article se penche sur la spe´cificite´ de la violence coloniale. Malgre´ des exemples familiers—comme la grande re´volte de 1857 en Inde ou le massacre de Jallianwalla Bagh a` Amritsar en 1919—il y a une histoire plus large et plus importante qui a e´chappe´e a` l’attention des historiens. Contrairement aux e´tats europe´ens ou la souverainete´ de´rivait en principe du moins d’un contrat social entre les acteurs sociaux, le pouvoir souverain de l’e´tat colonial restait fonde´ sur la subjugation violente des indige`nes.

Heat Dissipation And Energetic Efficiency In Animal Anoxibiosis - Economy Contra Power

This survey on calorimetry and thermodynamics of anoxibiosis applies classical and irreversible thermodynamics to interpret experimental, direct calorimetric results in order to elucidate the sequential activation of various biochemical pathways. First, the concept of direct and indirect calorimetry is expanded to incorporate the thermochemistry of aerobic and anoxic metabolism in living cells and organisms. Calorimetric studies done under normoxia as well as under physiological and environmental anoxia are presented and assessed in terms of ATP turnover rate. Present evidence suggests that unknown sources of energy in freshwater and marine invertebrates under long-term anoxia may be important. During physiological hypoxia, thermodynamically grossly inefficient pathways sustain high metabolic rates for brief periods. On the contrary, under long-term environmental anoxia, low steady-state heat dissipation is linked to the more efficient succinate, propionate, and acetate pathways. In the second part of this paper these relationships are discussed in the context of linear, irreversible thermodynamics. The calorimetric and biochemical trends during aerobic-anoxic transitions are consistent with thermodynamic optimum functions of catabolic pathways. The theory predicts a decrease of rate with an increase of thermodynamic efficiency; therefore maximum rate and maximum efficiency are mutually exclusive. Cellular changes of pH and adenylate phosphorylation potential are recognized as regulatory mechanisms in the energetic switching to propionate production. While enzyme kinetics provides one key for understanding metabolic regulation, our insight remains incomplete without a complementary thermodynamic analysis of kinetic control in energetically coupled pathways.

The Effects Of Reduced Salinity On Colonial Growth And Membership In A Hydroid

The effect of different salinity levels on colonial growth and gonozooid frequency of the hydroid Campanularia flexuosa Hincks has been studied. It is shown that the usual cumulative presentation of growth data tends to obscure evidence of acclimation and other features of importance to an interpretation of adaptations of the growth process to salinity changes. A method of analysis is described that not only demonstrates acclimation, but apparently shows how growth is controlled after disturbance by changes in salinity. One other response to reduced salinity and other unfavourable changes in water chemistry is an increase in gonozooid frequency due to the diversion of resources from the formation of new hydranths.

Outposts of Empire: Scientific Discovery and Colonial Displacement in Gaskell's Wives and Daughters

This article offers a fresh consideration of Elizabeth Gaskell's unfinished Wives and Daughters (1864–6), in terms of what this metropolitan novelist knew about contemporary scientific debates and imperial exploration of Africa, and how her familiarity with these discourses was incorporated into her imaginative work. Her focus for these two related themes is the naturalist Roger Hamley, whose character and exploits are meant to parallel those of the young Charles Darwin. Roger's direct involvement in the historical Geoffroy–Cuvier debate allows Gaskell to offer a sophisticated examination of how discussions about evolutionary biology (about which she learned from personal acquaintances and printed sources) contributed to political and social change in the era of the first Reform Bill. Roger's subsequent journey to Abyssinia to gather specimens allows Gaskell to form a link between science and imperial exploration, which demonstrates how, when carried to its conclusion, the development of classificatory knowledge systems was never innocent; rather, it facilitated colonial exploitation and intervention, which allowed for the ‘opening up of Africa’. Gaskell's pronouncements about science in the novel are far more explicit than her brief references to empire; the article ponders why this should be so, and offers some suggestions about how her reliance on imaginative and discursive constructs concerning the ‘Dark Continent’ may be interpreted as tacit complicity with the imperial project, or at least an interest in its more imaginative aspects.

The Violent Maintenance of the Portuguese Colonial Identity and the Search for a Postcolonial one: literary images of Portugal as a colonial and postcolonial nation

Through the examination of Camões's Os Lusíadas , Sena's Os Grão-Capitães and Saramago's A Jangada de Pedra , this article explores violence as a means of shaping Portuguese identity in different historical contexts, and how these works portray the continued recourse to violence as Portugal moves from colonizing to postcolonial nation.