Irresponsible Lending?: A Case Study of a U.K. Credit Industry Reform Initiative

There are major concerns about the level of personal borrowing, particularly sourced from credit cards. This paper charts the progress of an initiative to create a Responsible Lending Index (RLI) for the credit industry. The RLI proposed to voluntarily benchmark lending standards and promote best practice within the credit industry by involving suppliers of credit, customer representatives and regulators. However, despite initial support from some banks, consumer bodies and the Chair of the Treasury Select Committee, it failed to gain sufficient support from financial institutions in its original format. The primary reasons for this were related to the complexity of building such a robust index and the banks trade body’s fear of exposing its members to public scrutiny. A revised alternative, the Responsible Lending Initiative, was proposed which took into account these concerns. However, the Association of Payment Clearing Service (APACS), the trade body of the credit industry, then effectively destroyed the proposal. This article describes an attempt to address the challenges in the credit card industry with the initiation of the RLI, reflected in stakeholder discourse and in the context of a wider concern expressed by the involved stakeholders in terms of the need for greater responsibility in the banking industry’s lending practices.

Identification of systemic immune response markers through metabolomic profiling of plasma from calves given an intra-nasally delivered respiratory vaccine

Vaccination procedures within the cattle industry are important disease control tools to minimize economic and welfare burdens associated with respiratory pathogens. However, new vaccine, antigen and carrier technologies are required to combat emerging viral strains and enhance the efficacy of respiratory vaccines, particularly at the point of pathogen entry. New technologies, specifically metabolomic profiling, could be applied to identify metabolite immune-correlates representative of immune protection following vaccination aiding in the design and screening of vaccine candidates. This study for the first time demonstrates the ability of untargeted UPLC-MS metabolomic profiling to identify metabolite immune correlates characteristic of immune responses following mucosal vaccination in calves. Male Holstein Friesian calves were vaccinated with Pfizer Rispoval® PI3 + RSV intranasal vaccine and metabolomic profiling of post-vaccination plasma revealed 12 metabolites whose peak intensities differed significantly from controls. Plasma levels of glycocholic acid, N-[(3α,5β,12α)-3,12-Dihydroxy-7,24-dioxocholan-24-yl]glycine, uric acid and biliverdin were found to be significantly elevated in vaccinated animals following secondary vaccine administration, whereas hippuric acid significantly decreased. In contrast, significant upregulation of taurodeoxycholic acid and propionylcarnitine levels were confined to primary vaccine administration. Assessment of such metabolite markers may provide greater information on the immune pathways stimulated from vaccine formulations and benchmarking early metabolomic responses to highly immunogenic vaccine formulations could provide a means for rapidly assessing new vaccine formulations. Furthermore, the identification of metabolic systemic immune response markers which relate to specific cell signaling pathways of the immune system could allow for targeted vaccine design to stimulate key pathways which can be assessed at the metabolic level.

Seaborne trade and the commercialisation of fifteenth- and sixteenth-century Gaelic Ulster

This study considers the frequently stated claim that the economy of Gaelic- speaking lordships in Ulster during the fifteenth and sixteenth centuries was predominately pastoral anduncommercialised, by drawing on a variety of sources not usually combined. It proposes that the increased European demand for fish and the growth of the fish industry across northern Europe played a crucial role in stimulating trade between the coastal areas of Ulster on the one hand, and Britain and continental Europe on the other. This led to the establishment of permanent markets and towns, which joined at least two new inland towns in the southern parts of the province, bringing about a commercial presence in most of the Ulster lordships before 1600. Gaelic Lords consolidated this development by building castles and friaries at these fixed trading places.

Cross-Industry Product Diversification and Contagion in Risk and Return: The Case of Bank-Insurance and Insurance-Bank Takeovers

We investigate the impact of domestic/international bancassurance deals on the risk-return profiles of announcing and non-announcing banks and insurers within a GARCH model. Bank-insurance deals produce intra- and inter-industry contagion in both risk and return, with larger deals producing greater contagion. Bidder banks and peers experience positive abnormal returns, with the effects on insurer peers being stronger than those on bank peers. Insurance-bank deals produce insignificant excess returns for bidder and peer insurers and positive valuations for peer banks. Following the deal, the bank bidders’ idiosyncratic (systematic) risk falls (increases), while insurance bidders exhibit a lower systematic risk and maintain their idiosyncratic risk.

Firms survival and international trade: The impact of exports and imports

Double Degree. A Work Project presented as part of the requirements for the Award of a Masters in Management from Nova School of Business and Economics and Maastricht University.

The Political Economy of St. Catharines' Illicit Taxi Trade

The global restructuring of production has led to increasingly precarious working conditions around the world. Post-industrial work is characterized by poor working conditions, low wages, a lack of social protection and political representation and little job security. Unregulated forms of work that are defined as “irregular” or “illegal”, or in some cases “criminal,” are connected to sweeping transformations within the broader regulated (formal) economy. The connection between the formal and informal sectors can more accurately be described as co-optation and, as a subordinate integration of the informal to the formal. The city of St. Catharines within Niagara, along with much of Ontario’s industrial heartland, has been hard hit by deindustrialization. The rise of this illegal service is thus viewed against the backdrop of heavy economic restructuring, as opportunities for work in the manufacturing sector have become sparse. In addition, this research also explores the paradoxical co-optation of the growing illicit taxi economy and consequences for racialized and foreign credentialed labour in the taxi industry. The overall objective of this research is to explore the illicit cab industry as not only inseparable from the formal economy, but dialectically, how it is as an integrated and productive element of the public and private transportation industry. Furthermore the research examines what this co-optation means in the context of a labour market that is split by race.

Directed Technical Change and International Trade

Recent changes in comparative advantage in the largest OECD economies differ significantly from the predictions of Heckscher-Ohlin-Vanek theory. Japan's rising share of OECD machinery exports and the improvement in the comparative advantage of the USA and Germany in heavy industry were accompanied by growing scarcities of the factors used intensively in the favored sector of each country. Here we examine Acemoglu's (1998, 2002) hypothesis that technical change may be directed toward raising the marginal productivity of abundant factors. Testing this hypothesis with 1970-1992 export data from 14 OECD countries, we find evidence that international comparative advantage was reshaped by innovation biased toward the abundant factors in the largest economies.

Analyse de la performance du système portuaire de l'Arctique canadien

Les changements climatiques amènent des transformations profondes de l’environnement arctique. La diminution de l’étendue de la couverture de glace permet un accès facilité aux ressources naturelles et aux communautés nordiques. Au Canada, la région arctique est caractérisée par une géographie archipélagique et un réseau de transport rudimentaire. Le transport maritime est le mode privilégié pour l’acheminement du fret aux communautés et aux sites industriels de l’Arctique. La littérature scientifique présente des lacunes importantes au sujet de la navigation commerciale dans l’Arctique canadien. Peu d’études portent sur le trafic de ravitaillement en raison de son volume peu élevé et de la faible diversité des types de produits transportés, bien qu’il s’agisse d’une activité grandement significative pour les populations et l’économie du Nord. Cette recherche vise à combler cette lacune en dressant un portrait du transport maritime et de la performance des opérations portuaires dans l’Arctique canadien. L’étude est structurée en quatre parties. Une analyse du trafic et des échanges maritimes est d’abord réalisée sous trois échelles : internationale, nationale et intra-arctique. Ensuite, l’étude de la flotte et des routes fait ressortir la distribution géographique des transporteurs. Puis, la performance des ports est mesurée grâce à des indicateurs et un système de cotation. Finalement, une évaluation des opérations maritimes arctiques est menée par l’entremise d’informations récoltées lors d’entrevues avec les membres de l’industrie maritime, de conférences et de travail de terrain. Les sujets abordés concernent l’évolution de la desserte, les défis posés par la navigation en milieu arctique et le développement des ports du Nord canadien. Les résultats de l’étude mènent à la conclusion que le transport maritime dans l’Arctique est caractérisé par une croissance positive du volume acheminé et une implication profonde des transporteurs dédiés à la desserte nordique, mais des infrastructures portuaires et maritimes sous-développées.

Zoning of the commercial poultry industry in Ontario as a method of avian influenza mitigation

L’Organisation mondiale de la santé animale (OIE) est l’institution internationale responsable de la mise en place des mesures sanitaires associées aux échanges commerciaux d’animaux vivants. Le zonage est une méthode de contrôle recommandée par l’OIE pour certaines maladies infectieuses, dont l’influenza aviaire. Les éclosions d’influenza aviaire été extrêmement coûteuses pour l’industrie avicole partout dans le monde. Afin d’évaluer la possibilité d’user de cette approche en Ontario, les données sur les sites de production avicole ont été fournies par les fédérations d’éleveurs de volailles ce cette province. L’information portant sur les industries associées à la production avicole, soit les meuneries, les abattoirs, les couvoirs, et les usines de classification d’œufs, a été obtenue par l’entremise de plusieurs sources, dont des représentants de l’industrie avicole. Des diagrammes de flux a été crée afin de comprendre les interactions entre les sites de production et les industries associées à ceux-ci. Ces industries constituaient les éléments de bas nécessaires au zonage. Cette analyse a permis de créer une base de données portant sur intrants et extrants de production pour chaque site d’élevage avicole, ainsi que pour les sites de production des industries associées à l’aviculture. À l’aide du logiciel ArcGIS, cette information a été fusionnée à des données géospatiales de Statistique Canada de l’Ontario et du Québec. La base de données résultante a permis de réaliser les essais de zonage. Soixante-douze essais ont été réalisés. Quatre ont été retenus car celles minimisaient de façon similaire les pertes de production de l’industrie. Ces essais montrent que la méthode utilisée pour l’étude du zonage peut démontrer les déficits et les surplus de production de l’industrie avicole commerciale en Ontario. Ceux-ci pourront servir de point de départ lors des discussions des intervenants de l’industrie avicole, étant donné que la coopération et la communication sont essentielles au succès du zonage.

Effet d'un traitement intra-utérin de céphapirine sur les performances en reproduction des vaches laitières

La reproduction est un pilier majeur de la productivité des fermes laitières. Dans ce contexte, il est pertinent d’identifier à l’avance les animaux à risque d’avoir des performances en reproduction sous-optimales, surtout si un traitement efficace est disponible pour améliorer ces performances. Les endométrites clinique et subclinique sont des conditions définies selon leur impact sur les performances en reproduction subséquentes et donc, des outils très intéressants de surveillance de la santé utérine. Le premier objectif de cette étude était de déterminer simultanément des seuils diagnostiques pour les endométrites clinique (diagnostiquée par le Metricheck) et subclinique (diagnostiquée par la cytologie endométriale ou par l’estérase leucocytaire) selon leur impact sur les performances en reproduction à la première saillie. L’écoulement vaginal purulent a été identifié comme seuil pour l’endométrite clinique, alors que les seuils identifiés pour l’endométrite subclinique ont été un pourcentage de polymorphonucléaires de 6% à la cytologie et une « forte quantité de leucocytes » à l’estérase leucocytaire. Le second objectif de l’étude était d’évaluer l’effet d’un traitement intra-utérin de céphapirine sur les performances à la première saillie des animaux sains et atteints d’endométrite. Aucun effet du traitement n’a été observé chez les vaches saines ou atteintes d’endométrite clinique, alors qu’une tendance à l’amélioration des performances a été associée au traitement chez celles atteintes d’endométrite subclinique. L’anovulation post-partum prolongée pourrait altérer l’efficacité du traitement de céphapirine, surtout chez les vaches atteintes d’endométrite clinique.

Problems and Prospects of Tea Plantation Industry in Kerala

The overall objective of the study is to examine the problems and prospects of the tea on industry in Kerala. The specific objectives are to trace the historical evolution of the tea plantation industry in India with special reference to Kerala and to study the performance of tea plantation industry in Kerala. In order to analyse the growth performance of tea plantation industry in Kerala in a comparative perspective, growth rates for the neighbouring states of Karnataka and Tamilnadu are estimated along with the National, South Indian and North Indian estimates. Tea plantation industry is a labour intensive activity. Productivity has been low primarily because of the over aging. In all the factories visited only Black tea is produced. In factories outmoded machines which installed years ago is still used which will increase the cost of production. The major problem is high cost of production and low price realization. The workers are found to be not satisfied with their working conditions- long journey to work place, absence of resting places, latrine facilities etc. and also the problems arising from dust in the factory. At a macro level the tea plantation industry has been facing the adverse impacts of globalisation and trade liberalization. There is only one solution to this problem that is to improve the competitiveness in production of raw leaf and manufacturing of tea. Government has a very important role with specification of strict quality control

Global Value Chain Linkages of Manufacturing Export Firms: A Study of The Kannur Home Textile Industry

The literature on the involvement of developing countries in trade has focused on the effects of different aspects of globalization on firms, regions and countries. The study attempts to examine how an export based industry, locallyembedded and originated on the basis of regional strengths has been inserted into the global trade framework. Though the unit of analysis is the manufacturing export firm in the region of Kannur, it represents the entire home textile export industry from the state of Kerala, as close to 90% of fabric exports in home furnishing material, textiles for upholstery and decoration and stitched or fused, and branded made ups are from the region. From a global perspective, how developing countries face newer trade restrictions and overcome non quota barriers by firm and region specific activities within a value chain framework is a major research area, which has already contributions from the Ludhiana woolen cluster (Tewari,1999 ) and the Tirupur cluster in India (Cawthorne, 1995). The study contributes to the value chain literature by examining the governance and upgrading as well as how firms benefit from linkages. India has a number of export oriented agglomerations or regions where firms have been serving export markets for many years. In many cases it is no longer the supply side policy actions that determine how they are able to penetrate new markets or expand existing market share. Based on this study it becomes possible to understand how the global value chain operates in these different industries to examine whether there is a danger of immiserisation of growth or low road growth

A study of the cost structure of the cashew industry in kerala, karnataka and tamilnadu

Since the world demand for cashew kernels has been rising steadily for several years in the past, conferring significant price increase the processing of cashew remains a highly profitable lndustry. India being the earliest and largest supplier of cashew kernels in the world market it is our prestigious obligations to reestablish her pristine monopoly. Further the added importance ot the indutry in the Socio economic context of the State of Kerala makes various measures impervative in order to bring back to the industry its pristine glory at the late sixties to give a face lift and to stabilize the industry. This present study adopts a comprehensive frame work of analysis compassing the major issues involved in the cultivation, distribution, import, processing and marketing of cashew undcr the private and public sector, migration of the industry and the financial requirements of the industry.

Inter- State Variations in Productivity trends and Technological Change in Indian industry

The present study entitled ‘Inter-State Variations in Manufacturing Productivity and Technological Changes in India’ covers a period of 38 years from l960 tol998-99. The study is mainly based on ASI data. The study starts with a discussion of the major facilitating factors of industrialization, namely, historical forces, public policy and infrastructure facilities. These are discussed in greater details in the context of our discussion on Perrox’s (1998) ‘growth pole’ and ‘development pole’, Hirschman’s (1958) ‘industrial centers’ and Myrdal’s ‘spread effect’ Most of the existing literature more or less agrees that the process of industrialization has not been unifonn in all Indian states. There has been a decline in inter-state industrial disparities over time. This aspect is dealt at some length in the third chapter. An important element that deserves detailed attention is the intra-regional differences in industrialisation. Regional industrialisation implies the emergence of a few focal points and industrial regions. Calcutta, Bombay and Madras were the initial focal points. Later other centers like Bangalore, Amritsar, Ahemedabad etc. emerged as nodal points in other states. All major states account for focal points. The analysis made in the third chapter shows that industrial activities generally converge to one or two focal points and industrial regions have emerged out of the focal points in almost all states. One of the general features of these complexes and regions is that they approximately accommodate 50 to 75 percent of the total industrial units and workers in the state. Such convergence is seen hands in glow with urbanization. It was further seen that intra-regional industrial disparity comes down in industrial states like Maharashtra, Gujarat and Uttar Pradesh.

Industrial Laws In Transnational Corporations And Their Impact On The Economic Conditions Of Labour: Acase Study Of Pharmaceutical Industry In India

This study proposes to verify the hypothesis relating to labour legislation in the industrial sector.Here there are as many as fifty enacments of the central government alone.These legislations indicating the growth of this branch of law over a period of more than half a centuary cover a wide spectrum of interests of workers both individuals and collective in different areas of employment.However this study relates mainly to a)trade unions act,b)industrial employment c)industrial disputes.