Movement of Capital and Trade in Services:Distinguishing Myth from Reality Regarding the GATS and the Liberalization of the Capital Account

This article will analyze the interplay between capital movements and trade
in services as structured in World Trade Organization (WTO) law, and it will
assess the implications of the capital account liberalization for the freedom of
WTO Members to pursue their economic policies. Although the movement
of capital is largely confined to the domain of international financial or monetary
policy, it is regulated by WTO law due to its role in the process of
financial services liberalization, which generally requires liberalized capital
flows. From a legal perspective, the interplay between capital movements
and trade in services requires striking a delicate balance between the right
of market access and the parallel right of economic stability. Indeed, a liberalized
regime for capital movements could pose serious stability problems
during times of crisis. For this reason, it is necessary that Members are able
to derogate from their obligations and adopt emergency measures.
Regulating the movement of capital in the General Agreement on Trade in
Services (GATS) requires stretching the regulatory oversight of WTO law
over different aspects of international economic policy. Indeed, capital movements are a fundamental component of the balance of payments and have a
major role in shaping monetary, fiscal, and financial policies. This article will
analyze how the discipline provided by the GATS on capital movements will
affect not only trade in services, but also the Members’ policy space on
monetary and fiscal policy. The article will conclude that while the GATS offers enough policy space for the maintenance of financial stability, it does
not fully take into consideration the need of Members to control capital
movements in order to conduct monetary policies.

Unloading or not unloading? Sheep welfare implication of rest stop at control post after a 29h transport

In Europe, maximum journey time for transported sheep is set at 29. h (EC Regulation 1/2005), after which animals must be unloaded, fed and watered in control posts stopping for 24. h, as all other species, before continuing their journey. The industry considers these resting times too general, not taking into account the peculiar differences between species or age classes. Also, loading and unloading have been reported to be detrimental for the animals. Therefore, the industry pushes to reduce the times at control post and avoid unloading the animals from the truck. Since there is little information concerning the effect of resting in a stationary truck after long journeys, the present study aims to evaluate the effect of an 8. h rest stop on the truck for transported ewes compared to being unloaded for resting in a control post for the same amount of time, considering physiological and behavioural measures. Two groups of ewes were transported for 29. h, after which one was unloaded and housed in a pen (P) at the control post while the other was left inside the truck (T). After 8. h stop, a further 6. h travel was headed to the farm of origin. A third group (C) stayed at the farm as control. During the stop, standing, resting, moving and eating behaviour of all groups was recorded. Blood parameters, salivary and faecal cortisol were assessed at different stages. The behaviour of P animals during the resting period was more similar to C than to T ones, where feeding and lying behaviours were restricted by the limited space allowance on the truck. After returning to the farm of origin, both T and P animals showed different parameters' levels as compared to C. P ewes showed a mean loss weight of 2. kg not recorded in group T and showed higher signs of muscular damage compared to C group. It was concluded that, with so short resting times as 8. h, there is no clear advantages in terms of animal welfare for avoiding the unloading and loading of the animals in the control post after long journeys.

Networked tourism: from world destinations to inter-organizations

Na última década, a referência ao conceito de redes cresceu rapidamente entre a literatura sobre turismo, geralmente aplicado a tópicos como as interorganizações, estrutura de multi-destinos, espaços de Turismo online, entre outros. O conceito de rede difundiu-se na natureza e na sociedade, em áreas que vão desde a Biologia à Medicina, ou da Economia à Gestão, e o conhecimento sobre redes tem vindo a impulsionar uma teoria comum para facilitar a compreensão de diferentes sistemas complexos e a representação das ligações entre organizações, acções, bens, proteínas ou pessoas. A tese teve como propósito o encontro de um eixo comum entre dois campos férteis de investigação através de uma revisão teórica sistemática. A investigação sobre redes complexas é um campo recente na Física que tem vindo a desenvolver-se bastante na última década com fortes aplicações interdisciplinares. Por outro lado, a análise de redes sociais é uma área de investigação activa em Sociologia e Economia há bastante tempo. O estudo das implicações das redes complexas para a ciência das redes de turismo é uma área promissora já com resultados fascinantes. A tese tem três resultados principais. Primeiro, traz conhecimento das ricas áreas de conhecimento sobre redes complexas e redes sociais. Em segundo lugar, apresenta modelos evolutivos que melhor se adaptam às chegadas turísticas internacionais. Como se organizam as redes sociais? Como é que os indivíduos escolhem os seus destinos de viagem? Estes são exemplos de questões que serão abordadas na tese. Em terceiro lugar, discute resultados que fazem notar comportamentos comuns entre redes em turismo e outras redes reais. O que é comum a todas as redes na natureza? Adicionalmente, os padrões encontrados entre os destinos turísticos mostram um comportamento não social, com destinos mais característicos de redes económicas e sistemas tecnológicos que questionam a faceta social do sector do turismo. Por acréscimo, a rede de transportes aéreos e a rede de turismo mostram diferenças consideráveis que se podem dever a razões políticas ou outras que provavelmente explicam o aumento da utilização de voos charters.

Determinants of online travel purchase intentions: a holistic approach

Online travel shopping has attracted researchers due to its significant growth and there is a growing body of literature in this field. However, research on what drives consumers to purchase travel online has typically been fragmented. In fact, existing studies have largely concentrated on examining consumers’ online travel purchases either grounded on Davis’s Technology Acceptance Model, on the Theory of Reasoned Action and its extension, the Theory of Planned Behaviour or on Roger’s model of perceived innovation attributes, the Innovation Diffusion Theory. A thorough literature review has revealed that there is a lack of studies that integrate all theories to better understand online travel shopping. Therefore, based on relevant literature in tourism and consumer behaviour, this study proposes and tests an integrated model to explore which factors affect intentions to purchase travel online. Furthermore, it proposes a new construct, termed social media involvement, defined as a person’s level of interest or emotional attachment with social media, and examines its relationship with intentions to purchase travel online. To test the 18 hypotheses, a quantitative approach was followed by first collecting data through an online survey. With a sample of 1,532 Worldwide Internet users, Partial Least Squares analysis was than conducted to assess the validity and reliability of the data and empirically test the hypothesized relationships between the constructs. The results indicate that intentions to purchase travel online is mostly determined by attitude towards online shopping, which is influenced by perceived relative advantages of online travel shopping and trust in online travel shopping. In addition, the findings indicate that the second most important predictor of intentions to purchase travel online is compatibility, an attribute from the Innovation Diffusion Theory. Furthermore, even though online shopping is nowadays a common practice, perceived risk continues to negatively affect intentions to purchase travel online. The most surprising finding of this study was that Internet users more involved with social media for travel purposes did not have higher intentions to purchase travel online. The theoretical contributions of this study and the practical implications are discussed and future research directions are detailed.

Public transport travel planning application

Here it is presented an application that plans out travel on public transports and that chooses the best ones, according to preference criteria provided by the user. These criteria are: the time spent on the travel, the price of the tickets and the quality of the transports. The application combines different means of transport. Algorithms and heuristics were developed to draw up transport plans and to choose the best ones. The best plans are determined using the multi-attributes decision techniques. The application uses a database that was developed in a Relational Database Management System. To draw the database at the conceptual and the applicational level, it was used one of the models based on the object, the Entity-Relationship Mode

Consolidation. An account of parties in the United States, from the convention of 1787, to the present period

This document is an account of a convention of South Carolina state representatives following the drafting of the Declaration of Independence. There were three parties involved in the convention and the account is based on the notes of Mr. Luther Martin who attended as well Mr. Justice Yates’ account. The first party wished to abolish all state governments and have one uniform monarchical government for the continent that would be restricted and limited. The second party did not wish to abolish state governments to give their own state some importance. The third party was advocating for a federal government in conjunction with state government. This document is an account of the convention.

(Un)settling the Irish emigrant identity: representation and construction of an Irish emigrant/exile identity in the travel narratives of Kathleen Nevin and William Bulfin

Through an examination of the travel works of William Bulfin, Tales of the Pampas (1900) and Kathleen Nevin's You'll Never Go Back this paper considers the representation of the Irish in Argentina and the contribution of these narratives in the construction of identity and the reconstruction of the emigrant identity into an exilic one. Escaping one colonial framework (Britain/Ireland), travelling to and writing from within another postcolonial construct (Argentina and the Spanish Empire), this paper analyses how Bulfin and Nevin use language as a tool to construct, and even invent, an Irish identity. This identity is inextricably linked to home and the desire to return there. Despite this desire, Argentina becomes internalised to some extent, which in Bulfin can be seen in the mix of the Spanish, English and Irish languages in his stories, highlighting that the Irish were doing with language what they had already done with their lives; trying to adapt it to their new situation. In Nevin, the contrast between us and them (Irish and 'Native') demonstrates her attempts to shape an exilic rather than emigrant mentality. Through these texts I analyse how Argentina never quite becomes a new home, but a place where Irish identity is played out and acquires form.

At the end of the day: Macmillan's account of the Cuban missile crisis

Pre-publicity for the final volume of Harold Macmillan’s memoirs, At the End of the Day, stressed that it would provide the British side of the Cuban missile crisis for the first time. The Churchillian model chosen, changes required by the Cabinet Office and Macmillan’s desire to rebuke those political opponents who claimed that the crisis demonstrated a lack of British influence in Washington, however ensured a focus on his personal relationship with President Kennedy. His larding the text with contemporary observations from his diaries also skewed Macmillan’s account and, in particular, underplayed the significance of British moves at the United Nations in New York to secure a credible United Nations inspection regime and a US guarantee of the inviolability of Cuba. Careful reconstruction of Macmillan’s real-time experience of the Cuban missile crisis demonstrates the limitations of his own account of this event

Tourist photographers and the promotion of travel: the Polytechnic Touring Association, 1888–1939

The Polytechnic Touring Association (PTA) was a London-based, originally philanthropic turned commercial travel firm whose historical origins coincided with the arrival of the Kodak camera in 1888 – thus, of popular (tourist) photography. This article examines the PTA’s changing relationship with tourist photographers, and how this influenced the company’s understanding of what role photography could play in promoting the tours, in the late nineteenth and early twenty century. This inquiry is advanced on the basis of the observation that, during this time, the PTA’s passage from viewing tourists as citizens to educate, to customers to please, paralleled the move from using photography-based images to mixed media. Such a development was certainly a response to unprecedented market demands; this article argues that it should also be considered in relation to the widening of photographic perceptions engendered by the democratization of the medium, to which the PTA responded, first as educator, then as service provider. In doing so, the article raises several questions about the shifting relationship between “high”, or established, and “low”, or emerging, forms of culture, as mass photography and the mass marketing of tourism developed.