One date, one break?

This paper demonstrates that the conventional approach of using official liberalisation dates as the only existing breakdates could lead to inaccurate conclusions as to the effect of the underlying liberalisation policies. It also proposes an alternative paradigm for obtaining more robust estimates of volatility changes around official liberalisation dates and/or other important market events. By focusing on five East Asian emerging markets, all of which liberalised their financial markets in the late, and by using recent advances in the econometrics of structural change, it shows that (i) the detected breakdates in the volatility of stock market returns can be dramatically different to official liberalisation dates and (ii) the use of official liberalisation dates as breakdates can readily entail inaccurate inference. In contrast, the use of data-driven techniques for the detection of multiple structural changes leads to a richer and inevitably more accurate pattern of volatility evolution emerges in comparison with focussing on official liberalisation dates.

Stock market efficiency before and after a financial liberalisation reform:do breaks in volatility dynamics matter?

This article focuses on the deviations from normality of stock returns before and after a financial liberalisation reform, and shows the extent to which inference based on statistical measures of stock market efficiency can be affected by not controlling for breaks. Drawing from recent advances in the econometrics of structural change, it compares the distribution of the returns of five East Asian emerging markets when breaks in the mean and variance are either (i) imposed using certain official liberalisation dates or (ii) detected non-parametrically using a data-driven procedure. The results suggest that measuring deviations from normality of stock returns with no provision for potentially existing breaks incorporates substantial bias. This is likely to severely affect any inference based on the corresponding descriptive or test statistics.

Self-selection into export markets by business services firms:evidence from France, Germany and the United Kingdom

This study investigates business services firms that (start to) export, comparing exporters to firms that serve the national market only. We estimate identically specified empirical models using comparable enterprise data from France, Germany, and the UK. Our findings show that exporters are on average more productive and pay higher wages in all three countries. However, results for profitability differ across borders, where profitability of exporters is significantly smaller in Germany, significantly larger in France, and does not differ significantly in the UK. The results for wages and productivity hold in the years before firms start exporting, which indicates self-selection into exporting of more productive services firms that pay higher wages. The surprising finding of self-selection of less profitable German services firms into exporting does not show up among firms from France and the UK. In all three countries we do not find evidence for positive effects of exporting on firm performance. © 2012 Elsevier B.V.

De-industrialisation:Rowthorn and Wells' Model revisited

This paper presents a simple three-sector model that seeks to establish links between structural change in employment and the level of economic development. The model is a modified version of that of Rowthorn - Wells (1987). The theoretical analysis is supplemented with simple econometric tests which illustrate how the modified Rowthorn - Wells model can be used (i) to motivate empirical estimates of the link between the level of development and structures of employment, and (ii) to illustrate structural distortions under command economies.

De-industrialisation and the post-communist transition:Rowthorn and Wells' model revisited

In this paper we present a simple three-sector model explaining the structural change in employment, which is a modified version of Rowthorn-Wells (1987). We supplement the theoretical analysis with simple econometric tests, which illustrate how the modified Rowthorn-Wells model can be used to (i) motivate empirical estimates of the link between the level of development and structures of employment, (ii) illustrate structural distortions under the command economies, and the structural adjustment that happened during the post-Communist transition. We demonstrate that in the case of these economies, the transition process leads to an adjustment to the employment structures predicted by the model.

Foreign direct investment and employment in Central Europe

This article investigates the effects of foreign direct investment on employment generation in Central Europe. Foreign affiliates operate as a buffer to reductions in overall employment and show significant cross-country differences. A model analyzing the contribution of foreign direct investment to restructuring is developed. This model helps interpret the empirical evidence on the link between foreign direct investment and employment in Central Europe. Increasing differentiation in employment between manufacturing industries dominated by foreign affiliates suggests the importance of diversified sources of foreign direct investment for employment generation and preservation. A disaggregate analysis indeed reveals a much more complex and differentiated role of foreign direct investment in employment preservation, employment generation and structural change than the aggregate picture would suggest. This diversity has important policy implications for attracting and upgrading foreign direct investment.

The UK MPharm (2) - Do we over assess?

Introduction-The pace of structural change in the UK health economies, the new focus on regulation and the breaking down of professional boundaries means that the Royal Pharmaceutical Society of Great Britain (RPSGB) has to continually review the scope, range and outputs of education provided by schools of pharmacy (SOPs). In SOPs, the focus is on equipping students with the knowledge, skills and attitudes necessary to successfully engage with the pre-registration year. The aim of this study [1] was to map current programmes and undergraduate experiences to inform the RPSGB debate. The specific objectives of this paper are to describe elements of the survey of final year undergraduates, to explore student opinions and experiences of their workload, teaching, learning and assessment. Material and methods-The three main research techniques were: (1) quantitative course document review, (2) qualitative staff interview and (3) quantitative student self completion survey. The questions in the survey were based on findings from exploratory focus group work with BPSA (British Pharmaceutical Students’ Association) members and were designed to ascertain if views expressed in the focus groups on the volume and format of assessments were held by the general student cohort. The student self completion questionnaire consisting of 31 questions, was administered in 2005 to all (n=1847) final year undergraduates, using a pragmatic mixture of methods. The sample was 15 SOPs within the UK (1 SOP opted out). The total response rate was 50.62% (n=935): it varied by SOP from 14.42% to 84.62%. The survey data were analysed (n=741) using SPSS, excluding non-UK students who may have undertaken part of their studies within a non-UK university. Results and discussion • 76% (n=562) respondents considered that the amount of formal assessment was about right, 21% (n=158) thought it was too much. • There was agreement that the MPharm seems to have more assessment than other courses, with 63% (n=463) strongly agreeing or agreeing. • The majority considered the balance between examinations and coursework was about right (67%, n=498), with 27% (n=198) agreeing that the balance was too far weighted towards examinations. • 57% (n=421) agreed that the focus of MPharm assessment was too much towards memorised knowledge, 40% (n=290) that it was about right. • 78% (n= 575) agreed with the statement “Assessments don’t measure the skills for being a pharmacist they just measure your knowledge base”. Only 10% (n=77) disagreed. • Similarly 49% (n=358) disagreed with, and 35% (n=256) were not sure about the statement “I consider that the assessments used in the MPharm course adequately measure the skills necessary to be a pharmacist”. Only 17% (n=124) agreed. Experience from this study shows the difficulty of administering survey instruments through UK Schools of Pharmacy. It is heavily dependent on timing, goodwill and finding the right person. The variability of the response rate between SOPs precluded any detailed analysis by School. Nevertheless, there are some interesting results. Issues raised in the exploratory focus group work about amount of assessment and over reliance on knowledge have been confirmed. There is a real debate to be had about the extent to which the undergraduate course, which must instil scientific knowledge, can provide students with the requisite qualities, skills, attitudes and behaviour that are more easily acquired in the pre-registration year. References [1] Wilson K, Jesson J, Langley C, Clarke L, Hatfield K. MPharm Programmes: Where are we now? Report commissioned by the Pharmacy Practice Research Trust., 2005.

Employment and the Social Economy. EU Funding Opportunities for Developing Human Resources

The paper examines the role of EU cohesion policy in the field of human resources development and improving conditions for employment. The main objective of the analysis is to present a comprehensive picture about funding opportunities in connection with financing the activities of organisations of the social economy. As a background, the study stresses that the success of the European integration process depends to a great extent on the strength of economic and social cohesion between EU member states and regions. In order to create conditions for sustainable and balanced growth with social inclusion, there is a need to enhance the competitiveness of less developed regions combating the difficulties of structural change, and to improve their development prospects. To achieve this aim, one of the most important fields is to improve human resources. The paper points out, that EU cohesion policy has a crucial role in reducing disparities. After a general introduction to the EU level regional policy funding, the study focuses on the activities supported by the European Social Fund (ESF). The next part of the study deals with the possible types of the social economy projects and problems of self-financing. The author emphasises that social innovation emerges where State and markets fail to deliver for society (theory of non-profit/third sector) but not just to fix or replace them. The author concludes that these projects require state subsidies (official grants) at the beginning, but at the same time they can generate income. In this respect they follow same economic goals as other market actors, however, the crucial difference is that their main goal is not to make high profits for the owners. In the last part, as a concrete case study, the paper concentrates on the priorities of the Hungarian development plan in relation to social renewal. The author explains the priorities and fields of interventions of the social renewal programme. Finally, the chapter deals with the recent changes in the Hungarian employment policy and related measures supported by the European Social Fund. The chapter concludes that several employment programmes, projects for the development of social economy and programmes assisting the spreading of voluntariness and the training of volunteers have been launched with the co-financing of ESF.

A versenyszféra teljesítményéről nemzetközi összehasonlításban

Napjaink gazdasági nehézségei miatt a közvélemény hajlandó a rendszerváltás óta eltelt időszakot teljes egészében sikertelennek minősíteni. Ez felettébb veszélyes, mert nem veszi kellőképpen figyelembe azt a jelentős fejlődést, amelyet az ország ezen időszak alatt befutott és így egy féleredmény eredménnyé fejlesztése helyett könnyen tönkre teheti mindazt, amit elértünk. A tanulmány ezt a fejlődést kívánja bemutatni nemzetközi összehasonlításban és azt a továbblépés lehetőségeinek feszegetésével értékelni. A tanulmány központi mondanivalója, hogy egy fájdalmas, de elkerülhetetlen struktúraváltáson vagyunk túl, mely egy korábbi torz fejlődést az ország jelenlegi gazdasági fejlettségének megfelelően korrigált. A múltbeli teljesítményt rontja, hogy egyoldalúan a mikrovállalkozásokra orientálódott és nem tudta a szerkezetváltás során a kis és közepes vállalatok részarányát növelni. Jelenlegi gazdasági nehézségek megoldását is részben az jelentené, ha a szerkezetváltást ebbe az irányba tudnánk vezérelni. _____ For our everyday economic difficulties the public opinion is inclined to evaluate the period that passed since the transition as totally unsuccessful. This is very dangerous because it does not take into account properly that significant development that has been achieved by the country in this period and instead to complete the achieved half results everything could be destroyed what we have positively done. The study intends to present this development in international comparison and tries to evaluate it by trying to show the possibilities of further development. The central message of the study is, that we are behind a painful, but unavoidable structural change that has corrected a former distorted development and the achieved one corresponds to the present economic development level of the country. This performance is deteriorated by the exaggerated orientation onto micro enterprises and the inability to increase the share of small and micro enterprises properly. Our present economic difficulties could be eased significantly if we could stimulate structural shifts into this direction.

Infants' selective attention to faces and prosody of speech: The roles of intersensory redundancy and exploratory time

One of the overarching questions in the field of infant perceptual and cognitive development concerns how selective attention is organized during early development to facilitate learning. The following study examined how infants' selective attention to properties of social events (i.e., prosody of speech and facial identity) changes in real time as a function of intersensory redundancy (redundant audiovisual, nonredundant unimodal visual) and exploratory time. Intersensory redundancy refers to the spatially coordinated and temporally synchronous occurrence of information across multiple senses. Real time macro- and micro-structural change in infants' scanning patterns of dynamic faces was also examined. ^ According to the Intersensory Redundancy Hypothesis, information presented redundantly and in temporal synchrony across two or more senses recruits infants' selective attention and facilitates perceptual learning of highly salient amodal properties (properties that can be perceived across several sensory modalities such as the prosody of speech) at the expense of less salient modality specific properties. Conversely, information presented to only one sense facilitates infants' learning of modality specific properties (properties that are specific to a particular sensory modality such as facial features) at the expense of amodal properties (Bahrick & Lickliter, 2000, 2002). ^ Infants' selective attention and discrimination of prosody of speech and facial configuration was assessed in a modified visual paired comparison paradigm. In redundant audiovisual stimulation, it was predicted infants would show discrimination of prosody of speech in the early phases of exploration and facial configuration in the later phases of exploration. Conversely, in nonredundant unimodal visual stimulation, it was predicted infants would show discrimination of facial identity in the early phases of exploration and prosody of speech in the later phases of exploration. Results provided support for the first prediction and indicated that following redundant audiovisual exposure, infants showed discrimination of prosody of speech earlier in processing time than discrimination of facial identity. Data from the nonredundant unimodal visual condition provided partial support for the second prediction and indicated that infants showed discrimination of facial identity, but not prosody of speech. The dissertation study contributes to the understanding of the nature of infants' selective attention and processing of social events across exploratory time.^

Mangrove tannins in aquatic ecosystems: Their fate and possible influence on dissolved organic carbon and nitrogen cycling

We describe the fate of mangrove leaf tannins in aquatic ecosystems and their possible influence on dissolved organic nitrogen (DON) cycling. Tannins were extracted and purified from senescent yellow leaves of the red mangrove (Rhizophora mangle) and used for a series of model experiments to investigate their physical and chemical reactivity in natural environments. Physical processes investigated included aggregation, adsorption to organic matter-rich sediments, and co-aggregation with DON in natural waters. Chemical reactions included structural change, which was determined by excitation–emission matrix fluorescence spectra, and the release of proteins from tannin–protein complexes under solar-simulated light exposure. A large portion of tannins can be physically eliminated from aquatic environments by precipitation in saline water and also by binding to sediments. A portion of DON in natural water can coprecipitate with tannins, indicating that mangrove swamps can influence DON cycling in estuarine environments. The chemical reactivity of tannins in natural waters was also very high, with a half-life of less than 1 d. Proteins were released gradually from tannin–protein complexes incubated under light conditions but not under dark conditions, indicating a potentially buffering role of tannin– protein complexes on DON recycling in mangrove estuaries. Although tannins are not detected at a significant level in natural waters, they play an important ecological role by preserving nitrogen and buffering its cycling in estuarine ecosystems through the prevention of rapid DON export/loss from mangrove fringe areas and/or from rapid microbial mineralization.

Employment status and health in Spain before and after the Great Recession

This article analyzes the relationship between employment status (ES), on one hand, and self-rated health and psychological distress, on the other, in the context of the Great Recession beginning in 2008. For this purpose, it is necessary to move beyond the employment/unemployment dichotomy characteristics of previous theories and research concerning the relationship between the labor market, recession, and health. The authors use data from the Spanish National Health Surveys in 2006 (n = 15,128), before the crisis, and in 2012 (n = 11,124), when its consequences had taken effect. The results of the regression analysis indicate a structural change in the relationship between ES and health. Health inequality patterns changed during the crisis, with increased deterioration in the health of unemployed, especially the long-term unemployed, and self-employed workers. Health inequalities were reduced for temporary workers. The results support the idea that the structure of the association between ES and health varies according to the economic cycle. The association between recession, ES, and health would be directly related to the specific characteristics of the economic and employment contexts under study. In the Spanish case, labor market segmentation processes based on numerical flexibility—a key feature of the Mediterranean Variety of Capitalism—may explain the results obtained.

Promoting Decent Work in Global Supply Chains in Latin America and the Caribbean: Key Issues, Good Practices, Lessons Learned and Policy Insights

The report is based on a desk-based review, drawing upon existing studies of global supply chains (GSCs) to examine their impacts and implications for the development of domestic firms, their contribution to productive transformation and structural change and their impacts on the quantity and quality of jobs in the LAC region. It situates the expansion of GSCs in the region within an analytical framework that recognizes both the economic and social upgrading dimensions and the impacts on firms and workers. Special attention is given to the mechanisms for governing the terms and conditions of engagement between firms and between firms and workers in GSCs, with the aim of identifying ways to jointly pursue the goals of raising competitiveness and of promoting productive employment and decent work.

Berufsausbildung und sozio-ökonomischer Wandel. Ursachen der "Krise des dualen Systems" der Berufsausbildung

Zu einem Zeitpunkt, zu dem zahlreiche Entwicklungs- und neuerdings auch Industrieländer das „duale System" der Berufsausbildung in Deutschland als eine Art Idealmodell der beruflichen Qualifizierung entdecken, wachsen die Zweifel, ob dieses Ausbildungssystem angesichts der anhaltenden Expansion von Gymnasium und Hochschule noch eine Zukunftsperspektive hat. Im vorliegenden Beitrag werden die zahlreichen Symptome der Krise des dualen Systems aufgezeigt, es wird versucht, die Ursachen dieser Krise unter sozialhistorischer Fragestellung zu deuten, und es werden die bislang aufgezeigten Vorschläge diskutiert, diese Krise zu überwinden. (DIPF/Orig.)

Allgemeinbildung und Berufsbildung. Zwei konkurrierende Konzepte der Systembildung in der deutschen Bildungsgeschichte und ihre aktuelle Krise

Berufliche und allgemeine Bildung sind keine curricularen, sondern systemische Gegensätze. Die deutsche Bildungsgeschichte hat sich über zwei soziologisch völlig unterschiedliche, daher auch weder integrier- noch aufeinander reduzierbare Zentren der Systemfindung abgespielt. Reformambitionen, die das nicht zur Kenntnis nehmen, scheitern an den historisch entstandenen Formen, durch die sie selbst möglich geworden sind. (DIPF/Orig.)