The Impact on Canada of the Rise of the Chinese Economy: Good, Bad or Indifferent? (Working Paper 50)

From humble beginnings less than twenty years ago, the economic relationship between Canada and the Chinese has flourished so that China is now Canada’s second most important trading partner after the United States. The Chinese demand for Canada’s exports, in particular in the natural resource sectors, has been a clear win for Canada, especially during the recent Great Recession where demand from other countries dropped sharply. But other aspects of the relationship have led to suggestions of costs. Canada’s large trade deficit with China at least looks superficially as a drag on the Canadian economy. It has been suggested the greater exposure to a low cost producer has displaced Canadian production and jobs and lowered wages. We find that each argument for costs to the relationship ignores important factors. On balance we conclude the relationship has been good for Canada, and it could be even better in the future.

Cape Breton Provides Pointers for the Adjustment Programs Required by the Decline of the Old Economy (Working Paper 14)

The Cape Breton Development Corporation need not, should not, be dying in the way it is. “Devco” has been widely represented as a failure dragged out too long. In fact it had for a time considerable success in a role too difficult to be often attempted. The main failure was in the political will to stick to its purpose. This commentary is in three parts. The first, major section discusses the purpose of Devco and the policies that served the purpose quite well but were maintained for little more than a decade. It suggests that the benefits would have been greater if Devco had been started earlier in the period of postwar prosperity. The second section comments on the enfeeblement of Devco in the 1980s. The removal of its development function also weakened, and has eventually led to the abandonment of, Devco’s social purpose in the operation of coal mining. Third, a short epilogue pointing out that, while the Cape Breton case is extreme, there will be increasing need to moderate the socially disruptive consequences of accelerating economic change. There are lessons from the Devco experience: the longer remedial action is delayed, the more difficult and expensive it becomes, and the more necessary for its effectiveness is a steady political will.

The Ocean Economic Statistical System of China and Understanding of the Blue Economy

The ocean and its resources are increasingly seen as indispensable in addressing the multiple challenges the planet is facing in the decades to come. It has never been easy to quantify this particular sector of the economy, in any country, given the lack of a detailed, centralized data base with adequate specifics covering the necessary sectors, this article aims to compare the existing ocean economy statistical systems, especially Asia-Pacific, American and European countries, in order to overcome the deficiencies with regard to the diversity of definitions and statistical representations of ocean sectors, establish the standard statistical system and compile data for the global ocean economy.

The Role of the Ocean Economy in the National Income Accounts of Indonesia

This paper presents the role of the Ocean Economy in the National Income Accounts of Indonesia including the concept and methodology used to estimate the contribution of this ecosystem to Indonesian value added. Currently, the national income account of Indonesia only recognizes the fishery sector. Fishery activities have been considered as one of the sub-sectors of agricultural sector together with sub-sectors of farm food crops, plantation or non-food crops, forestry, and livestock. There are some drawbacks in the concept of national income accounts, since it follows the UN system of national accounts (SNA) that recognize only economic sectors or activities which produce the value added, while it does not recognize the ecosystems such as lakes and river ecosystems, forests as well as terrestrial and ocean ecosystems as production sectors. The present concept of the SNA produces an undervaluation of forest and ocean sectors, which in turn may direct the policy makers to have a tendency to deplete the forestry and fishery resources in order to increase the contribution of those two sectors to the national income accounts. Otherwise, the two sectors will be allocated small national budget for their operations. Therefore the paper concludes that a new concept of national income accounts based on ecosystem products and services to be developed, as a satellite account to the national income account is needed. Furthermore the new concept of national income account for the ocean economy should adopt the UN System of Environmental and Economic Accounts, which takes into account the extractive and non-extractive products as environmental and biological services in to the ocean income account. The new concept of ocean accounting based on both extractive and non-extractive products instead of only based on the extractive one which have market values may guarantee the sustainability of the ocean in particular and will be good for the whole economy of the country in generally. Hence the national income accounts of the ocean economy will show how the blue economy or the ocean economy really function as one of the important sectors for the whole economy of the country.

Measurement of the Ocean Economy From National Income Accounts to the Sustainable Blue Economy

The widespread efforts to incorporate the economic values of oceans into national income accounts have reached a stage where coordination of national efforts is desirable. A symposium held in 2015 began this process by bringing together representatives from ten countries. The symposium concluded that a definition of core ocean industries was possible but beyond that core the definition of ocean industries is in flux. Better coordination of ocean income accounts will require addressing issues of aggregation, geography, partial ocean industries, confidential, and imputation is also needed. Beyond the standard national income accounts, a need to incorporate environmental resource and ecosystem service values to gain a complete picture of the economic role of the oceans was identified. The U.N. System of Environmental and Economic Accounts and the Experimental Ecosystem Service Accounts provide frameworks for this expansion. This will require the development of physical accounts of environmental assets linked to the economic accounts as well as the adaptation of transaction and welfare based economic valuation methods to environmental resources and ecosystem services. The future development of ocean economic data is most likely to require cooperative efforts at development of metadata standards and the use of multiple platforms of opportunity created by policy analysis, economic development, and conservation projects to both collect new economic data and to sustain ocean economy data collection into the future by building capacity in economic data collection and use..

Nanostructured catalysts for the development of the hydrogen economy

La catalyse joue un rôle essentiel dans de nombreuses applications industrielles telles que les industries pétrochimique et biochimique, ainsi que dans la production de polymères et pour la protection de l’environnement. La conception et la fabrication de catalyseurs efficaces et rentables est une étape importante pour résoudre un certain nombre de problèmes des nouvelles technologies de conversion chimique et de stockage de l’énergie. L’objectif de cette thèse est le développement de voies de synthèse efficaces et simples pour fabriquer des catalyseurs performants à base de métaux non nobles et d’examiner les aspects fondamentaux concernant la relation entre structure/composition et performance catalytique, notamment dans des processus liés à la production et au stockage de l’hydrogène. Dans un premier temps, une série d’oxydes métalliques mixtes (Cu/CeO2, CuFe/CeO2, CuCo/CeO2, CuFe2O4, NiFe2O4) nanostructurés et poreux ont été synthétisés grâce à une méthode améliorée de nanocasting. Les matériaux Cu/CeO2 obtenus, dont la composition et la structure poreuse peuvent être contrôlées, ont ensuite été testés pour l’oxydation préférentielle du CO dans un flux d’hydrogène dans le but d’obtenir un combustible hydrogène de haute pureté. Les catalyseurs synthétisés présentent une activité et une sélectivité élevées lors de l’oxydation sélective du CO en CO2. Concernant la question du stockage d’hydrogène, une voie de synthèse a été trouvée pour le composét mixte CuO-NiO, démontrant une excellente performance catalytique comparable aux catalyseurs à base de métaux nobles pour la production d’hydrogène à partir de l’ammoniaborane (aussi appelé borazane). L’activité catalytique du catalyseur étudié dans cette réaction est fortement influencée par la nature des précurseurs métalliques, la composition et la température de traitement thermique utilisées pour la préparation du catalyseur. Enfin, des catalyseurs de Cu-Ni supportés sur silice colloïdale ou sur des particules de carbone, ayant une composition et une taille variable, ont été synthétisés par un simple procédé d’imprégnation. Les catalyseurs supportés sur carbone sont stables et très actifs à la fois dans l’hydrolyse du borazane et la décomposition de l’hydrazine aqueuse pour la production d’hydrogène. Il a été démontré qu’un catalyseur optimal peut être obtenu par le contrôle de l’effet bi-métallique, l’interaction métal-support, et la taille des particules de métal.

Credit spreads and monetary policy in a small open economy: an analysis of the colombian economy

This paper estimates Bejarano and Charry (2014)’s small open economy with financial frictions model for the Colombian economy using Bayesian estimation techniques. Additionally, I compute the welfare gains of implementing an optimal response to credit spreads into an augmented Taylor rule. The main result is that a reaction to credit spreads does not imply significant welfare gains unless the economic disturbances increases its volatility, like the disruption implied by a financial crisis. Otherwise its impact over the macroeconomic variables is null.

Kryzys demokracji liberalnej - wybrane problemy rządzenia, legitymizacji i reprezentacji

Główna problematyka zawarta w tekście dotyczy: (1) znaczenia i zakresu kryzysu w gospodarce i polityce, (2) przyjęcia przez państwo i społeczeństwo logiki racjonalności ekonomicznej jako paradygmatu postępowania, (3) przewartościowania pojęcia polityki, co wiąże się m.in. z przyjęciem przez rządzących roli zarządców wybranych sfer państwa oraz z posługiwaniem się przez nich logiką „mieszanej racjonalności” („logiką władzy” i „logiką racjonalności ekonomicznej”), (4) wyzwań związanych z dystrybucją dóbr, (5) reprezentacji i legitymizacji w demokracji liberalnej. Gospodarka kapitalistyczna wpływa na wszystkie sfery życia społecznego, co zmusza do przedstawienia jej „modus operandi”. Charakterystyczne cechy oddziaływania to: (1) racjonalność formalna, (2) dogmat efektywności i ilościowej mierzalności, (3) reprodukcja ideologii mówiącej o wolnej woli jednostki, niezależnie od kontekstu społecznego, (4) wymuszanie odpowiedniej dla siebie reprodukcji siły roboczej, (5) kolonizacja kolejnych sfer aktywności społecznej (np. edukacji i szkolnictwa wyższego), (6) wpływ na wykluczenie grup społecznych ze względu na poziom zabezpieczenia materialnego. Wszystko to sprowadzić można do pojęcia logiki racjonalności ekonomicznej. Rządzący posługują się „mieszaną strategią”, która oparta jest na dwóch logikach postępowania – (1) logice władzy, (2) logice racjonalności ekonomicznej. Logika władzy to nic innego jak dążenie do zdobycia i utrzymania władzy, gdzie władza sama w sobie staje się celem, natomiast struktury państwa stanowią przestrzeń, którą należy przejąć lub opanować. Rządzący aby ukryć swoją bezideowość i konflikty w walce o przejęcie struktur państwa uprawiają politykę „na zewnątrz”, która przyjmuje formę „festiwalu” agonicznego dyskursu. Taka polityka możliwa jest dzięki rozdawnictwu podczas redystrybucji dóbr (niezgodnie z racjonalnością ekonomiczną) lub/i dzięki instrumentalnemu traktowaniu dystrybucji uznania. W związku z niemożnością utrzymania wysokiego poziomu rozdawnictwa, szczególnie w sytuacji kryzysu gospodarczego, rządzący chętnie posługują się logiką racjonalności ekonomicznej. Rozwiązania oparte na racjonalności ekonomicznej, mimo ich negatywnego odbioru przez społeczeństwo, wprowadzane są przy zastosowaniu argumentacji zagrożenia bezpieczeństwa (gospodarczego, socjalnego, narodowego itd.). Tym samym państwo wycofuje się z rządzenia na rzecz zarządzania niektórymi sferami państwa. Nie można tego nazwać inaczej jak „ucieczką” od odpowiedzialności, co jest szczególnie zauważalne w sytuacjach destabilizacji gospodarczej. W takich sytuacjach mamy do czynienia z „outsourcingiem zadań” państwa, co przyjmować może różne formy – (1) przenoszenie funkcji na inne instytucje przy zachowaniu kompetencji kontrolnych lub (2) przenoszenie obowiązków na inne własne instytucje, które wcześniej pełniły inną rolę. Wszystko to można nazwać rekonfiguracją funkcji państwa w związku z dominacją gospodarki kapitalistycznej i oddziaływaniem logiki racjonalności ekonomicznej. W tekście podjęto również problem dystrybucji dóbr i uznania, jednakże jedynie w aspekcie jej instrumentalizacji przez rządzących. Można wysunąć tezę, że liberalne koncepcje wolności jednostki oraz priorytet dla własności prowadzą do łatwiejszego ideologicznego uzasadnienia stosowania mieszanych strategii i racjonalności. W tekście przedstawiono też tezę o instrumentalizacji dystrybucji dóbr, tzn. instrumentalnego wykorzystywania dowartościowania różnych mniejszości w ramach systemu politycznego. Należy też stwierdzić, że dominacja logiki wolnego rynku prowadzi do deprecjacji redystrybucji dóbr w stosunku do gloryfikacji problematyki uznania. Tekst jest jedynie zarysowaniem problematyki wyczerpywania się formuły demokracji liberalnej, co przedstawiono na wybranych zagadnieniach. Podjęty problem demokracji liberalnej nie skupia się na próbie odtworzenia modelu tego rodzaju demokracji, raczej ważniejsze było stwierdzenie przejmowania w działaniu czegoś, co można określić mianem logiki racjonalności ekonomicznej. Wartą dalszego analizowania jest sama logika „mieszanej racjonalności”, którą sprowadzono do przenikania się „logiki władzy” i „logiki racjonalności ekonomicznej”.

A political economy of the ethnic chinese catering industry

The present political climate in which the ideals of entrepreneurship and self-help are strongly encouraged has drawn attention to those ethnic minorities noted for their entrepreneurial activity. Since the Chinese appear to be an exemplary case in point, this thesis focusses upon the historical material conditions which have led to the formation of a Chinese 'business* community in Britain, both past and present As such, it rejects the theories of cultural determinism which characterise most studies of the Chinese. For rather than representing the endurance of cultural norms, the existence of the contemporary Chinese 'niche' of ethnically exclusive firms in the catering industry is due to the conjunction of a number of historical processes. The first is the imperialist expansion into China of Britain's capitalist empire during the nineteenth century which established a relationship of dependency upon the interests of British capital by colonial Chinese labour. The second is the post war development of the catering industry and its demand for cheap labour as administered by the British state together with the contemporaneous development of the agricultural economy of colonial Hong Kong. Far from representing a source of material benefit to all, the ethnic Chinese 'niche' in catering is highly exploitative and merely underlines the racial oppression of Chinese in Britain. Attempts to promote business interests within the ethnic community therefore serve merely to entrench the structures of oppression.

Reallocation of resources between the tradable and non-tradable sector in Portugal: Assessing the degree of structural transformation in the Portuguese economy

Portugal implemented a large number of structural reforms in the recent years, which are expected to enhance the allocation of resources in the economy, namely from the non-tradable to tradable sector. We argue that the methodology to identify the tradable sector used by some international institutions is outdated and may hamper an accurate assessment of the progress achieved so far. Based on an enhanced methodology to identify the tradable sector, we are able to provide a more accurate, clearer picture of the recent structural developments of the Portuguese economy.

The impact of information and communications technology on commercial real estate in the new economy

Purpose – This paper seeks to critically review the conceptual frameworks that have been developed for assessing the impact of information and communications technology (ICT) on real estate. Design/methodology/approach – The research is based on a critical review of existing literature and draws from examples of previous empirical research in the field. Findings – The paper suggests that a “socio-technical framework” is more appropriate to examine ICT impact in real estate than other “deterministic” frameworks. Therefore, ICT is an important part of the new economy, but must be seen in the context of a number of other social and economic factors. Research limitations/implications – The research is based on a qualitative assessment of existing frameworks, and by using examples from commercial real estate, assesses the extent to which a “socio-technical” framework can aid understanding of ICT impact. Practical implications – The paper is important in highlighting a number of the main issues in conceptualising ICT impact in real estate and also critically examines the emergence of a new economy in the information society within the general context of real estate. The paper also highlights research gaps in the field. Originality/value – The paper deconstructs the myths of the “death of real estate” and “productivity increase means jobs loss”, in relation to office real estate. Finally, it examines some of the ways in which ICT is impacting on real estate and suggests the most important components for a future research agenda in the field of ICT and real estate impact, and will be of value to property investors, facilities managers, developers, financiers, and others.

The political economy of exchange rate in Brazil

This paper reviews part of the political economy literature on exchange rate policy relevant to understanding the political motivations behind the Brazilian exchange rate policy. We shall first examine the distributive role of the exchange rate, and the way it unfolds in terms of the desired political goals. We will follow by analyzing exchange policy as indicative of government effciency prior to elections. Finally, we discuss fiscal policy from the point of view of political economy, in which the exchange rate results from the macroeconomic equilibrium. Over this review, the Brazilian exchange rate policy is discussed in light of the theories presented.

Constructing coincident and leading indices of economic activity for the brazilian economy

This paper has three original contributions. The first is the reconstruction effort of the series of employment and income to allow the creation of a new coincident index for the Brazilian economic activity. The second is the construction of a coincident index of the economic activity for Brazil, and from it, (re)establish a chronology of recessions in the recent past of the Brazilian economy. The coincident index follows the methodology proposed by TCB and it covers the period 1980:1 to 2007:11. The third is the construction and evaluation of many leading indicators of economic activity for Brazil which fills an important gap in the Brazilian Business Cycles literature.

Constructing coincident and leading indices of economic activity for the brazilian economy

This paper has three original contributions. The first is the reconstruction effort of the series of employment and income to allow the creation of a new coincident index for the Brazilian economic activity. The second is the construction of a coincident index of the economic activity for Brazil, and from it, (re) establish a chronology of recessions in the recent past of the Brazilian economy. The coincident index follows the methodology proposed by The Conference Board (TCB) and it covers the period 1980:1 to 2007:11. The third is the construction and evaluation of many leading indicators of economic activity for Brazil which fills an important gap in the Brazilian Business Cycles literature.

Constructing coincident and leading indices of economic activity for the Brazilian economy

This paper has three original contributions. The fi rst is the reconstruction effort of the series of employment and income to allow the creation of a new coincident index for the Brazilian economic activity. The second is the construction of a coincident index of the economic activity for Brazil, and from it, (re) establish a chronology of recessions in the recent past of the Brazilian economy. The coincident index follows the methodology proposed by The Conference Board (TCB) and it covers the period 1980:1 to 2007:11. The third is the construction and evaluation of many leading indicators of economic activity for Brazil which fills an important gap in the Brazilian Business-Cycle literature.