The saving and investment nexus for China : evidence from cointegration tests

The saving and investment nexus as postulated by Feldstein and Horioka (FH) (1980) is revisited. The saving investment correlation for China is estimated over the periods 1952-1998 and 1952-1994, the latter culminating in a period of fixed exchange rate regime. Amongst the key results, it is found that saving and investment are correlated for China for both the period of the fixed exchange rate and the entire sample period. With high saving-investment correlation, the results suggest that the Chinese economy is in conformity with the FH hypothesis. This is a valid outcome, for in China capital mobility was fairly restricted over the 1952-1994 period as indicated by the relatively low foreign direct investment.

The relationship between saving and investment for Japan

In this paper, we revisit the saving and investment nexus as postulated by Feldstein and Horioka (FH) [Econ. J. 90 (1980) 314]. We test for cointegration between saving and investment using the recently developed bounds testing approach to cointegration and derive the long-run elasticities using the autoregressive distributed lag modeling approach for Japan over the period 1960–1999. We establish the unit root properties of the data in the presence of structural break(s) using the Zivot and Andrews (ZA) [J. Business Econ. Stat. 10 (1992) 251] and the Lumsdaine and Papell (LP) [Rev. Econ. Stat. 79 (1997) 212] tests. Finally, we ascertain the direction of causation between saving and investment by using the bootstrap approach. Amongst our key results we find that saving and investment are cointegrated for Japan; investment causes saving and saving causes investment; shocks to saving and investment have a permanent effect; and the long-run coefficient on saving is 0.68, implying a moderate rate of correlation. From the latter finding, we believe that there is no puzzle between saving and investment in the case of Japan, a result contrary to FH (1980).

The influence of educational resources on superannuation investment choices

This paper reports on an investigation of whether educational resources supplied by a superannuation fund provide members with the required information to assist them in making informed choices regarding their superannuation investment funds. The data indicated that certain demographic groups are less likely to utilise the resources provided by their superannuation fund and other information sources. Females, younger individuals, those with low superannuation balances or limited knowledge of financial matters were the key groups identified as less likely to utilise the educational information offered to them.

Registered and enrolled nurses : experiences of ethical issues in nursing practice

Research aims:
To explore and describe registered and enrolled nurses’ experiences of ethics and human rights issues in nursing practice in the Australian State of Victoria.

Method:
Descriptive survey of 398 Victorian nurses using the Ethical Issues Scale (EIS) survey questionnaire.

Major findings:
The most frequent and most disturbing ethical issues reported by the nurses surveyed included: protecting patients’ rights and human dignity, providing care with possible risk to their own health, informed consent, staffing patterns that limited patient access to nursing care, the use of physical/chemical restraints, prolonging the dying process with inappropriate measures, working with unethical/impaired colleagues, caring for patients/families who are misinformed, not considering a patient’s quality of life, poor working conditions.

Conclusions:
Nurses in Victoria frequently experience disturbing ethical issues in nursing practice that warrant focussed attention by health service managers, educators and policy makers.

Ethical issues in the recruitment and retention of graduate nurses : a national concern

Australia like other countries is facing a crisis in the recruitment and retention of nurses. Adding to this crisis is the insufficient supply of new graduate nurses to meet current and future workforce demands. Unless changes are implemented that will bring likely demand and supply into balance, it is predicted that by the year 2010 (just seven year away) there will be a shortage of 40,000 nurses in Australia. Significantly, the current shortage of nurses is seeing hospitals, regions, States and countries compete fiercely with each other as they strive to recruit and retain sufficient numbers of nurses to meet their work force needs. The recruitment and retention strategies used by some prospective employers, however, have been highly questionable and raise serious questions about the ethics of nurse recruitment. In response to the issues raised, it is a key recommendation of this paper that mechanisms, including a national code of practice, need urgently to be put in place to ensure the effective, equitable and ethical regulation and monitoring of nurse recruitment and retention in Australia.

Lawyers and ethics in practice : the impact of clinical and ethics curricula on lawyers’ ethical decision-making

The authors have conducted a longitudinal study exploring the relationships between values and ethical behaviour for early-career legal practitioners. The study comprised a representative Australian cohort of final-year law students and tracked them through their first two years of employment or further study. It examined changes to ethical decision-making by presenting participants with hypothetical scenarios that provided ethical dilemmas. A questionnaire utilising hypothetical situations was presented in 11 scenarios. This chapter examines responses to the scenarios across the three years of the study, particularly exploring changes over time. Of particular interest were the effects of gender and prior ethics education on changing responses. Findings suggested significant differences between males and females in their ethical responses. They also suggested that involvement in clinical practice, in particular during the law degree, may have a positive impact on future willingness to assist access to justice (insofar as such lawyers were more inclined to participate in later pro bono activity).

The regulation of research by funding bodies : an emerging ethical issue for the alcohol and other drug sector?

The degree to which funding bodies can and do control the content and dissemination of research products raises important issues which need to be openly debated by the alcohol and other drug (AOD) sector. Current policies relating to censorship and other means of controlling research topics or output are explored alongside an examination of how some institutions, particularly some academic journals, deal with such issues. We argue that regulation of research by funding bodies clearly contravenes the scientific ideal of freedom of information and open access to knowledge. Using international ethical guidelines, we also demonstrate that regulation raises concerns in relation to the ethical concept of beneficence. A number of examples specific to harm reduction strategies are presented in order to demonstrate how censorship might conceivably increase the harms associated with drug use. The commentary closes with recommendations concerning the establishment the prevalence of censorship and other forms of control over research in the AOD sector, and the role that ethics committees, journal editorial boards and professional societies might play in resisting the imposition of unacceptable conditions on publication of findings.

The influence of need-for-cognition on ethical decision-making in marketing

The research established that the work-related norms of marketers and their socialisation into the marketing profession are influenced beneficially by their need-for-cognition. The research revealed contradictions between corporate codes of ethics and the values espoused by professional associations. Better ways of managing corporate ethical standards and behaviour are suggested.

Existence of externalities from investment in higher education research and development

Research undertaken for this thesis supports the underlying claim that education does generate externalities. By examining the impact of higher education R&D on Australian state production, the results suggest that both pure and applied R&D have a statistically significant impact on Australia's regional economic performance.

A comprehensive analysis of foreign direct investment and economic growth

All three frameworks reveal a strong positive impact of FDI on economic growth. On average, economic growth appears to have been driven by FDI, human capital, domestic investment, openness to trade, and economic freedom. However, findings on the impact of growth on FDI are somewhat different across the three frameworks.