History of the Geelong Regional Commission

This thesis is the first systematic history of the Geelong Regional Commission (GRC), and only the second history of a regional development organisation formed as a result of the growth centres policy of the Commonwealth Labor Government in the first half of the 1970s. In particular, the thesis examines the historical performance of the GRC from the time of its establishment in August 1977 to its abolition in May 1993. The GRC Commissioners were subject to ongoing criticism by some elements of the region's political, business, rural and local government sectors. This criticism focused on the Commissioners' policies on land-use planning, their interventionist stance on industrial land development, major projects and industry protection and their activities in revitalising the Geelong central business district. This thesis examines these criticisms in the light of the Commission's overall performance. This thesis found that, as a statutory authority of the Victorian Government, the GRC was successful over its lifetime, when measured against the requirements of the Geelong Regional Commission Act, the Commission's corporate planning objectives and performance indicators, the corporate performance standards of private enterprise in the late 1990s, and the performance indicator standards of today's regional economic development organisations in the United States of America, parts of the United Kingdom and Australia. With the change of Government in Victoria in October 1992 came a new approach to regional development. The new Government enacted legislation to amalgamate six of the nine local government councils of the Geelong region and returned regional planning responsibilities to the newly formed City of Greater Geelong Council. The new Government also made economic development a major objective of local government. As a result, the raison d'etre for the GRC came to an end and the organisation was abolished.

Firms as adaptive organizations : the case of Australian trading banks

The conventional accounting notion of ‘going concern’ — that a firm will continue its business operations in the same manner indefinitely — has underpinned accounting practice for over one hundred years. This idea has provided a rationale for spreading costs over accounting periods and for deferring costs as assets in balance sheets. An alternative idea that is widely regarded as reliable in the literatures of economics and deliberate action is that firms continually adapt to changes in market and economic conditions. That is economic behaviour. The implications of that view of a firm for accounting have been systematically explored by Chambers (1966). While not examining those particular implications, many other accounting theorists have been critical of the conventional accounting idea of 'going concern' and of its impact on accounting practice. The two notions of ‘going concern’ - as static or adaptive enterprises - are examined by referring to the business operations of the four major Australian trading banks over the period 1983-1991. Banks were selected because they are commonly thought to be particularly ‘conservative’ organizations. The period 1983—1991 was chosen because it covers the era of deregulation of the Australian financial system. The evidence adduced by this study indicates that the Australian trading banks have continually adapted their organizational structures and business operations in the light of changes in technology, markets for financial services, government policies and domestic and global economic conditions. Illustrations of adaptive behaviour by banks ate drawn from their normal operating procedures such as the provision of products and services, loan services, acquisitions, sale of property, non-core banking operations and international banking. It is argued on analytical grounds that the cost basis of accounting does not yield financial statements that provide factual and up-to-date information about the financial capacity of firms to pay their debts and to continue trading generally; that is, to be going concerns. At any time, those financial capacities are determined by the amount of money commanded by a firm, including the money's worth of its assets, and by its level of debt. It is concluded on empirical grounds that the Australian trading banks, at least, are adaptive entities.

Macroeconomic impact of foreign aid to developing countries

The thesis looks at the macroeconomic impact of foreign aid. It is specially concerned with aid's impact on the public sector of less developed countries < LDCs> . Since the overwhelming majority of aid is directed to the public sector of LDCs, one can only understand the broader macroeconomic impact of aid if one first understands its impact on this sector. To this end, the thesis econometrically estimates " fiscal response" models of aid. These models, in essence, attempt to shed light on public sector fiscal behaviour in the presence of aid inflows, being specially concerned with the way aid is used to finance various categories of expenditures. The underlaying concern is to extent to which aid is " fungible" -that is, whether it finances consumption expenditure and reductions in taxation revenue in LDCs. A number of alternative models are derived from a utility maximisation framework. These alternatives reflect different assumptions regarding the behaviour of LDC public sectors and relate to the endogeniety of aid, whether or not recurrent expenditure is financed from domestic borrowing and the determination of domestic borrowing. The original frameworks of earlier studies are extended in a number of ways, including the use of a public sector utility function which is fully consistent with expected maximising behaviour. Estimates of these models' parameters are obtained using both time-series and cross-section data, dating from the 1960s, for Bangladesh, India, Pakistan and the Philippines. Both structural and reduced-form equations are estimated. Results suggest that foreign aid is indeed fungible, albeit at different levels. Moreover, the overall impact of aid on public sector investment, consumption, domestic borrowing and taxation varies between countries. Generally speaking, aid leads to increases in investment and consumption expenditure, but reduces taxation and domestic borrowing. Comparative analysis does, however, show that these results are highly sensitive to alternative behavioural assumptions and, therefore, model specification.

Tariff protection and politics : Castlemaine 1870-1901

This study, set within the contextual background of Victorian politics, ‘seeks to identify the economic, political and social implications of tariff protection for the Castlemaine region from 1870-1901. The introduction of the Victorian tariff in 1865 precipitated a reversal of earlier attitudes towards protection by politicians and their constituents. Reasons are sought for changes in the perceptions of the Castlemaine electorate and its political representatives towards the tariff between 1870 and Federation. An examination has been made of the role of the tariff in the creation of employment in the region’s primary and secondary industries together with its influence on politicians, primary and secondary industry leaders and workers. Also explored is the relative impact of the tariff on the economic performance of Castlemaine industries, whether producing for export or domestic markets.

Japanese investment on the Gold Coast : the interface of globalization and locality

This study explored the interface between the forces of globalization and a given place, at a given time, the Gold Coast during the 1980s. The global economic boom of the 1980s was one in which the role of Japan was particularly important. In less than half a decade capital flows from Japan surged to make it the world's largest investor. Locations in the Pacific Basin were favoured destinations for Japanese investment, one of the most significant was the Gold Coast. Japanese capital and tourism helped transform its urban area from a national resort to an international tourist destination and resort centre, The surge of capital arriving to the Gold Coast was a function of economic conditions in Japan, as was its steep reduction after November 1989, Thus the Gold Coast became integrated into global capital flows and so dependent on decisions made in Tokyo, one of the main financial centres of the world. However this study has also sought to explore a more complex reality; namely, that this place also became the interface of complex cultural forces and perceptions. The wealth of the Japanese investors on the Gold Coast enabled them to realize their dream of developing projects in the most fashionable global styles. These styles were essentially Western, and it was onto these that their Japanese owners ascribed their own meanings; meanings that reflected the cultural baggage that they had brought from Japan, and through which were filtered the economic and environmental realities of the Gold Coast. The Gold Coast as locality also included residents. Hence it became an interface between two different groups of people, the Japanese and the strongly Anglo-Celtic local community. Some in the local community perceived the Japanese presence as a threat to their perception of the Gold Coast, in fact, a threat to their perception of Australia's national identity. A campaign based on the politics of memory of the Japanese developed on the Gold Coast. Within weeks it became a national debate in which isolationalist, if not xenophobic traditionalists, concentrated on the Gold Coast challenged the economic rationalism and multicultural tolerance of the self-interested and ideologically convinced advocates of globalization. Governments at all levels sought to arbitrate, to legitimize standpoints, but more often than not were seen to move into positions of ineffectual flexibility. The forces of globalization on the Gold Coast were catalysts for change that in turn provoked local opposition which rapidly became a debate about national identity and direction. It is in the exploration of the complex and contradictory economic, cultural and political forces engendered by globalization that this study has sought to make a distinctive contribution.

The development of manufacturing in greater Geelong in the nineteenth century

Contrary to received opinion, Greater Geelong was among the most diversified manufacturing centres in Victoria, relative to Melbourne, Greater Ballarat and Greater Bendigo between 1854 to 1900. This was based on a manufacturing specialisation and export orientation established between 1841 and 1861.

Metamorphosis of a gold town : Stawell 1900-1940 : a study in local history

Examines the experience of the Wimmera town of Stawell as being representative of the early settlements created by gold rushes, and then threatened with extinction as the industry declined. Attention is paid to the role of community in Stawell's struggle to survive in the period between Federation and the Second World War. Reviews the economic and social processes involved in the eventual recovery. Argues that the forces of Stawell's historical legacy can be detected in the town's reaction to adversity after the closure of the last major mine in 1920.

Boom and bust in the Latrobe Valley

This thesis argues for the needs of the individual rather than a nationally imposed curriculum that does not take into account the needs of local communities suffering economic dislocation. Educational and socio-economic change are parallel narratives throughout the thesis.

Firm survival through a crisis : the influence of market orientation, marketing innovation and business strategy

As an outcome of the economic crisis, the global manufacturing sector is collapsing. Focusing on Chinese manufacturing small and medium enterprises (SMEs), this study investigates whether marketing innovation, defined as improvements in the marketing mix, can assist in withstanding the challenges of operating under the current economic conditions. A conceptual model linking market orientation, marketing innovation, competitive advantage and firm survival is tested using structural equation modelling. Three key findings are derived. First, the examined Chinese manufacturing SMEs had a greater perceived likelihood of survival had they developed and sustained a competitive advantage. Second, marketing innovation assisted in developing and sustaining competitive advantages based on differentiation and cost leadership strategies. Third, marketing innovation capabilities improved when the examined manufacturing SMEs were competitor oriented and had good inter-functional capabilities.

Efficacité de l'aide et sélectivité : vers un concept élargi

This paper surveys recent research on aid and growth. It also provides an overview of research on inter-recipient aid allocation.

Post global financial crisis international business strategies

International business strategies are affected by economic conditions, although the resource-based view would suggest that company resources are a more significant factor. This paper identifies differences in the international strategy behaviours of companies located in countries which, as a result of the GFC, entered either a deep recession, a shallow recession or no recession at all. Empirical evidence is provided for companies with home country markets with each of these conditions. The ability of international strategy theories to explain these behaviours is considered. Based on observations of international businesses with home country markets in each of these categories, it is suggested that determinants of international strategy during financial crises (and immediately after) are influenced by the strength of the home country market, foreign market government protectionist behaviour, international exchange rate variations and local levels of rivalry.

A passion for white elephants : some lessons from Australia’s experience of nation building

A ‘white elephant’ is a magnificent, high-status possession that is not particularly productive, costs a lot to maintain, and which you cannot get rid of. Since colonial times, Australians have had a weakness for white elephants. Traditionally, these were massive, debt-funded public works schemes that were economically, environmentally or socially dubious. In recent years, our white elephants have taken on different guises, but the ruinous expense and misdirected effort remain the same. This paper explores some of the reasons for our society’s historic enthusiasm for white elephants, and suggests some remedies.

Democratic educational leadership in contemporary times

This article seeks to identify the economic and social conditions confronting officially designated education leaders and to set out the parameters for how they might respond. Specifically, it suggests that education leaders are currently faced with changing bases of social cohesion, changing instruments of (economic) control and changing forms of organisation. Informed by these changing conditions and by a recognitive view of social justice (Young 1990; Gale and Densmore 2000), the article makes a case for educational leadership that is characterised by distinctly democratic directions and influences. In particular, democratic leaders are seen as those that enable the formation of social, learning and culturally responsive public educational institutions, in part by enabling contextually-specific struggles to determine what is needed, and by developing a politically informed commitment to justice for all.