Institutional Development of Capital Markets in Nine Asian Economies

This paper is conducting a comparative analysis of the development of securities markets in nine Asian economies: Korea, Taiwan, Hong Kong, Singapore, Malaysia, Thailand, Indonesia, the Philippines, and China. This study focuses on two aspects: the history and institutional development of securities market, such as legal systems, payment systems, etc. From the analyses, this paper reveals several common features of the development of securities markets in nine Asian economies. First, most economies had an informal capital market in the early period of their history. Second, the background of the foundation of their official markets was influenced by experiences of colonization. Third, most governments recognized the importance of the capital market for economic development and had a positive attitude in promoting the market. Fourth, statistics clearly showed that most economies experienced several booms in their capital market from the late 1980s.

The causal relationships in mean and variance between stock returns and foreign institutional investment in India

This paper examines the causalities in mean and variance between stock returns and Foreign Institutional Investment (FII) in India. The analysis in this paper applies the Cross Correlation Function approach from Cheung and Ng (1996), and uses daily data for the timeframe of January 1999 to March 2008 divided into two periods before and after May 2003. Empirical results showed that there are uni-directional causalities in mean and variance from stock returns to FII flows irrelevant of the sample periods, while the reverse causalities in mean and variance are only found in the period beginning with 2003. These results point to FII flows having exerted an impact on the movement of Indian stock prices during the more recent period.

Yangtze River Delta's system integration: institutional barriers and countermeasures

This paper addresses the issue of institutional barriers to the Yangtze River Delta integration and the resulting slow development. It analyzes the problems including the coordination of local interests and regional interests, market segmentation during the regional integration, competition for the local government‘s investment on the public goods, labor movement within the delta. The paper argues that to reduce the negative impacts of these barriers and to promote the further integration of the Yangtze Delta region, the central government should strengthen the coordination between local governments, regulate their disorderly competition and reform the official evaluation system.

Promoting institutional connectivity in the Asia Pacific region : a study of supply chain and trade in services

This paper analyzes "institutional connectivity", or the degree of seamless trade in services centering on the distribution sector. Foreign equity participation in mode 3 (commercial presence) of trade in services and business firms’ investment performance has been studied closely. Net economic benefits of transparent institutional connectivity in the wholesale sector have also been revealed statistically in the case of Japan’s bilateral FTAs with other APEC members. Given these results, APEC could work on establishing its own harmonized "service trade commitment table" with only the foreign capital participation as its simple policy restriction. This would surely enhance an APEC-wide, institutional supply chain connectivity.

A repository for integration of software artifacts with dependency resolution and federation support

While developing new IT products, reusability of existing components is a key aspect that can considerably improve the success rate. This fact has become even more important with the rise of the open source paradigm. However, integrating different products and technologies is not always an easy task. Different communities employ different standards and tools, and most times is not clear which dependencies a particular piece of software has. This is exacerbated by the transitive nature of these dependencies, making component integration a complicated affair. To help reducing this complexity we propose a model-based repository, capable of automatically resolve the required dependencies. This repository needs to be expandable, so new constraints can be analyzed, and also have federation support, for the integration with other sources of artifacts. The solution we propose achieves these working with OSGi components and using OSGi itself.

A Model-based Repository for Open Source Service and Component Integration.

Open source is a software development paradigm that has seen a huge rise in recent years. It reduces IT costs and time to market, while increasing security and reliability. However, the difficulty in integrating developments from different communities and stakeholders prevents this model from reaching its full potential. This is mainly due to the challenge of determining and locating the correct dependencies for a given software artifact. To solve this problem we propose the development of an extensible software component repository based upon models. This repository should be capable of solving the dependencies between several components and work with already existing repositories to access the needed artifacts transparently. This repository will also be easily expandable, enabling the creation of modules that support new kinds of dependencies or other existing repository technologies. The proposed solution will work with OSGi components and use OSGi itself.

A federated repository for PaaS components in a multi-cloud environment

Cloud computing has seen an impressive growth in recent years, with virtualization technologies being massively adopted to create IaaS (Infrastructure as a Service) public and private solutions. Today, the interest is shifting towards the PaaS (Platform as a Service) model, which allows developers to abstract from the execution platform and focus only on the functionality. There are several public PaaS offerings available, but currently no private PaaS solution is ready for production environments. To fill this gap a new solution must be developed. In this paper we present a key element for enabling this model: a cloud repository based on the OSGi component model. The repository stores, manages, provisions and resolves the dependencies of PaaS software components and services. This repository can federate with other repositories located in the same or different clouds, both private and public. This way, dependencies can be fulfilled collaboratively, and new business models can be implemented.

A model for integrating learning object repository resources into web videoconference services

Reusing Learning Objects saves time and reduce development costs. Hence, achieving their interoperability in multiple contexts is essential when creating a Learning Object Repository. On the other hand, novel web videoconference services are available due to technological advancements. Several benefits can be gained by integrating Learning Objects into these services. For instance, they can allow sharing, co-viewing and synchronized co-browsing of these resources at the same time that provide real time communication. However, several efforts need to be undertaken to achieve the interoperability with these systems. In this paper, we propose a model to integrate the resources of the Learning Object Repositories into web videoconference services. The experience of applying this model in a real e-Learning scenario achieving interoperability with two different web videoconference services is also described.

An architecture for integrating learning object repository resources into web videoconference services

Reusing Learning Objects saves time and reduce development costs. Hence, achieving their interoperability in multiple contexts is essential when creating a Learning Object Repository. On the other hand, novel web videoconference services are available due to technological advancements. Several benefits can be gained by integrating Learning Objects into these services. For instance, they can allow sharing, co-viewing and synchronized co-browsing of these resources at the same time that provide real time communication. However, several efforts need to be undertaken to achieve the interoperability with these systems. In this paper, we propose a model to integrate the resources of the Learning Object Repositories into web videoconference services. The experience of applying this model in a real e-Learning scenario achieving interoperability with two different web videoconference services is also described.