The Value of Waiting: Foreign Direct Investment with Uncertainty and Imperfect Local Knowledge

This paper examines the role of uncertainty and imperfect local knowledge in foreign direct investment. The main idea comes from the literature on investment under uncertainty, such as Pindyck (1991) and Dixit and Pindyck (1994). We empirically test .the value of waiting. with a dataset on foreign direct investment (FDI). Many factors (e.g., political and economic regulations) as well as uncertainty and the risks due to imperfect local knowledge, determine the attractiveness of FDI. The uncertainty and irreversibility of FDI links the time interval between permission and actual execution of such FDI with explanatory variables, including information on foreign (home) countries and domestic industries. Common factors, such as regulatory change and external shocks, may affect the uncertainty when foreign investors make irreversible FDI decisions. We derive testable hypotheses from models of investment under uncertainty to determine those possible factors that induce delays in FDI, using Korean data over 1962 to 2001.

Prospective EFL (English as a Foreign Language) Teachers’ Perceptions of Learner Autonomy

This study investigated prospective EFL (English as a Foreign Language) teachers’ perceptions of learner autonomy. Main aim was to see whether the education they receive on how to teach English make any difference in prospective EFL teachers’ perceptions regarding learner autonomy. A researcher-developed questionnaire was administered to 179 students studying in the program of ‘Teaching English as a Foreign Language’ at Anadolu University in Turkey. Results of the study indicated that generally there is not much difference between the first and fourth year participants of the study in terms of their perceptions of learner autonomy.

Ein Symposium der Forschung [Rezension] : Occident and Orient. Being Studies in Semitic Philology and Literature, Jewish History, Philosophy and Folklore in the widest sense. In Honour of Haham Dr. Gasters 80. Birthday ed. by Bruno Schindler and A. Marmorstein. Taylors Foreign Press, London 1937

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An exploratory study of cultural understanding in English as a Foreign Language (EFL) reading in Argentina

Fil: Porto, Melina. Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación; Argentina.

On componential analysis as a valid pedagogic tool for vocabulary instruction in foreign language teaching

Fil: Porto, Melina. Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación; Argentina.

An exploratory study of cultural understanding in English as a Foreign Language (EFL) reading in Argentina

Fil: Porto, Melina. Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación; Argentina.

On componential analysis as a valid pedagogic tool for vocabulary instruction in foreign language teaching

Fil: Porto, Melina. Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación; Argentina.

An exploratory study of cultural understanding in English as a Foreign Language (EFL) reading in Argentina

Fil: Porto, Melina. Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación; Argentina.

Australia's Foreign Economic Policy: a 'State-Society Coalition' Approach and a Historical Overview

This paper aims to explain the historical development of Australia's foreign economic policy by using an analytical framework called a 'state-society coalition' approach. This approach focuses on virtual coalitions of state and society actors that share 'belief systems' and hold similar policy ideas, goals and preferences, as basic units (policy subsystems) of policy making. Major policy changes occur when a dominant coalition is replaced by another. The paper argues that, in Australia, there have been three major state-society coalitions in the foreign economic policy issue area: 'protectionists', 'trade liberalisers' and 'optional bilateralists'. The rise and fall of these coalitions resulted in distinctive shifts of Australia's foreign economic policy in the 1980s towards unilateral and multilateral liberalisation and in the late 1990s towards bilateral trade and investment arrangements.

Do Foreign Currency Deposits Promote or Deter Financial Development in Low-Income Countries? An Empirical Analysis of Cross-Country Data

Foreign currency deposits (FCD) are prevalent in many low-income developing countries, but their impact on bank lending has rarely been examined. An examination of cross-country data indicates that a higher proportion of FCD in total deposits is associated with growth in private credit only in inflationary circumstances (over 24 percent of the annual inflation rate). FCD can lead to a decline in private credit below this threshold level of inflation. Given that FCD exhibit persistence, deregulating them in low-income countries may do more harm than good on financial development in the long term, notably after successful containment of inflation.

Changes in the foreign trade structure of the Russian Far East under the process of transition toward a market economy

Under the process of transition toward a market economy, the economic connections of the Russian Far East (RFE) with external regions changed from a division of labor among the regions of the USSR (Russia) to an international division of labor. This happened due to factors including the liberalization of the trade system away from a state monopoly, the presence of rich natural resources and of developed industries related to these resources, the advantage of geographically proximity to Asia-Pacific countries, and the political and economic division of the once unified national economic space during the process of transition. The economic connections of RFE with external economies changed radically under the transition toward the market economy. First, the value of foreign trade increased dramatically and the importance of foreign trade for the RFE economy increased enormously. Second, however, different territories of RFE traveled along different trajectories, due to factors involving their industrial structure and geographical conditions. Third, in recent years connections with China, in the areas of both exports and imports, have grown. Fourth, the share within exports of "fuel, mineral resources and metal" increased radically from the end of the 1990s, and the share of "machine, facilities and transportation means" increased from 2002 year within imports. Under this situation, especially since 2002, there has been a major change in the structure of foreign trade.

Trade, Foreign Investment and Myanmar's Economic Development during the Transition to an Open Economy

Throughout the 1990s and up to 2005, the adoption of an open-door policy substantially increased the volume of Myanmar's external trade. Imports grew more rapidly than exports in the 1990s owing to the release of pent-up consumer demand during the transition to a market economy. Accordingly, trade deficits expanded. Confronted by a shortage of foreign currency, the government after the late 1990s resorted to rigid controls over the private sector's trade activities. Despite this tightening of policy, Myanmar's external sector has improved since 2000 largely because of the emergence of new export commodities, namely garments and natural gas. Foreign direct investments in Myanmar significantly contributed to the exploration and development of new gas fields. As trade volume grew, Myanmar strengthened its trade relations with neighboring countries such as China, Thailand and India. Although the development of external trade and foreign investment inflows exerted a considerable impact on the Myanmar economy, the external sector has not yet begun to function as a vigorous engine for broad-based and sustainable development.