Basel risk weights, asset correlations, and book-to-market equity: evidence from Asian countries

We examine the effect of firm book-to-market equity values (BE/ME) on asset correlations which play an important role in determining risk weights under the current Basel capital requirements. Using firms in China, Hong Kong, Japan, Korea, Singapore and Taiwan over a sample period from 1988 to 2013, we find that BE/ME has a negative effect on asset correlations. This suggests a role for BE/ME as an additional factor in determining asset correlations, and thus risk weights, also potentially reducing incentives for regulatory capital arbitrage.

Response of inflation to shocks: new evidence from Sub-Saharan African countries

In this paper, we investigate whether or not the inflation rate of 17 Sub-Saharan African countries can be modelled as a stationary process. We achieve this goal through using univariate and panel stationarity tests for data over the period 1966 to 2002. We use the Kwiatkowski, Phillips, Schmidt and Shin (KPSS, 1992) univariate test and allow for multiple structural breaks. We find that except for Burkina Faso, Burundi and Gambia, the inflation rate is stationary for the rest of the 14 countries. We then apply the panel version of the KPSS test, developed by Carrion-i-Silvestre et al. (2005), which accounts for multiple structural breaks. We find strong evidence of panel stationarity of the inflation rate. However, for a panel consisting of Burkina Faso, Burundi and Gambia, we could not find evidence that the inflation rate is stationary. © 2013 Elsevier B.V.

Neighborhood environments and objectively measured physical activity in 11 countries

Environmental changes are potentially effective population-level physical activity (PA) promotion strategies. However, robust multisite evidence to guide international action for developing activity-supportive environments is lacking. We estimated pooled associations of perceived environmental attributes with objectively measured PA outcomes, between-site differences in such associations, and the extent to which perceived environmental attributes explain between-site differences in PA.

Development aid and growth in transition countries

Empirical studies normally analyze diverse and heterogeneous groups of countries, producing very mixed evidence on the effectiveness of development aid in promoting growth. We focus on whether aid promotes economic growth in transitional economies. We find that aid, on average, has had a positive impact on growth for this specific group of countries. This result is robust to samples, estimators, and the use of alternate instruments to address endogeneity. Aid effectiveness is not conditional on good policy and there is little evidence of non-linear growth effects arising from aid.

Medical tourism and health worker migration in developing countries

In developing countries of tourist destinations, an increase in medical tourism raises the wages in the medical tourism sector, thereby retaining skilled medical workers who otherwise leave the country. However, the expansion of medical tourism contracts the domestic healthcare services sector, causing lower labor productivity in the economy. Medical tourism can increase domestic welfare if the benefits from migration retention and tourism exports outweigh the losses in revenue and productivity declines.

Localized learning by emerging multinational enterprises in developed host countries: a fuzzy-set analysis of Chinese foreign direct investment in Australia

Firms learn general international management and foreign market specific knowledge in their internationalization process. Firms' strategic emphasis on generalized vs. localized learning is an important yet underexplored issue in the extant literature. Drawing on the theoretical framework of dynamic capability, and in the context of emerging multinational enterprises' FDI into developed host countries, this study examines the equifinal process-position-path configurations of firms that will motivate them to engage in localized learning (as opposed to generalized learning). Utilizing primary and secondary data of eleven Chinese foreign direct investments in Australia, collected at both headquarters and subsidiary levels, we conducted fuzzy-set qualitative comparative analysis (fsQCA) that provided substantial support to our propositions. This study contributes to the internationalization process model by identifying equifinal process-position-path configurations, as well as their core and peripheral conditions that motivate localized learning at both the headquarters and the subsidiary levels.

Ownership structure, corporate governance and bank performance: Evidence from gcc countries

The paper examines the effect of ownership structure and board characteristics on bank performance of GCC counties. Evidence indicates that the extent of the foreign ownership level has a significant positive association with the bank performance. However, concentrated ownership does appear to have a significant negative impact on performance and institutional ownership does not have any significant effect on performance. Other governance variables such as CEO duality and board size appear insignificant impact on performance. These results suggest a need to strengthen the internal control mechanisms within banks of GCC countries.

Randomised controlled trials in child health in developing countries: trends and lessons over 11 years.

Using a uniform systematic approach annually, we reviewed 1553 publications from randomised controlled trials in child health in developing countries published between July 2002 and June 2013. There were annual increases in such publications, from 38 in the 12 months to July 2003 to over 200 in each of 2012 and 2013. These trials involved children in 76 developing countries. Studies of nutrition (366 publications, 23.6%) and malaria (336 publications, 21%) predominated. 79% of nutrition trials have been of micronutrients (288 publications), with comparatively few publications related to macronutrient interventions or complimentary feeding (48 publications) or measures to improve breast feeding (20 publications). Trials of malaria have involved a comprehensive range of treatment and preventive strategies and have heralded the implementation of new interventions as routine health strategies, and reductions in malaria in each affected country in the world in the last decade. There have been a relatively small number of trials of interventions for treatment or prevention of acute respiratory infection (98 publications, 6.3%), neonatal health (64 publications, 4.1%) and tuberculosis in children (26 publications, 1.7%). In the last 5 years there has been increasing focus on non-communicable diseases such as asthma and allergy, obesity, diabetes and cardiac disease, and behavioural-developmental disorders. Mental health conditions have received little attention (21 publications, 1.4% of publications). There is increasing research activity and capacity in child health in developing countries. Some areas have been the subject of a large amount of research, and have led to the design and implementation of effective public health interventions and reduced disease burdens, while in other areas comprehensive approaches and the systematic application of research findings have been lacking.

International study of perceived neighbourhood environmental attributes and Body Mass Index: IPEN Adult study in 12 countries

BACKGROUND: Ecological models of health behaviour are an important conceptual framework to address the multiple correlates of obesity. Several single-country studies previously examined the relationship between the built environment and obesity in adults, but results are very diverse. An important reason for these mixed results is the limited variability in built environments in these single-country studies. Therefore, the aim of this study was to examine associations between perceived neighbourhood built environmental attributes and BMI/weight status in a multi-country study including 12 environmentally and culturally diverse countries. METHODS: A multi-site cross-sectional study was conducted in 17 cities (study sites) across 12 countries (Australia, Belgium, Brazil, China, Colombia, Czech Republic, Denmark, Mexico, New Zealand, Spain, the UK and USA). Participants (n = 14222, 18-66 years) self-reported perceived neighbourhood environmental attributes. Height and weight were self-reported in eight countries, and measured in person in four countries. RESULTS: Three environmental attributes were associated with BMI or weight status in pooled data from 12 countries. Safety from traffic was the most robust correlate, suggesting that creating safe routes for walking/cycling by reducing the speed and volume of traffic might have a positive impact upon weight status/BMI across various geographical locations. Close proximity to several local destinations was associated with BMI across all countries, suggesting compact neighbourhoods with more places to walk related to lower BMI. Safety from crime showed a curvilinear relationship with BMI, with especially poor crime safety being related to higher BMI. CONCLUSIONS: Environmental interventions involving these three attributes appear to have international relevance and focusing on these might have implications for tackling overweight/obesity.

Neighbourhood socioeconomic disadvantage and fruit and vegetable consumption: a seven countries comparison

BACKGROUND: Low fruit and vegetable consumption is a risk factor for poor health. Studies have shown consumption varies across neighbourhoods, with lower intakes in disadvantaged neighbourhoods. However, findings are inconsistent, suggesting that socio-spatial inequities in diet could be context-specific, highlighting a need for international comparisons across contexts. This study examined variations in fruit and vegetable consumption among adults from neighbourhoods of varying socioeconomic status (SES) across seven countries (Australia, Canada, Netherlands, New Zealand, Portugal, Scotland, US). METHODS: Data from seven existing studies, identified through literature searches and knowledge of co-authors, which collected measures of both neighbourhood-level SES and fruit and vegetable consumption were used. Logistic regression was used to examine associations between neighbourhood-level SES and binary fruit and vegetable consumption separately, adjusting for neighbourhood clustering and age, gender and education. As much as possible, variables were treated in a consistent manner in the analysis for each study to allow the identification of patterns of association within study and to examine differences in the associations across studies. RESULTS: Adjusted analyses showed evidence of an association between neighbourhood-level SES and fruit consumption in Canada, New Zealand and Scotland, with increased odds of greater fruit intake in higher SES neighbourhoods. In Australia, Canada, New Zealand and Portugal, those residing in higher SES neighbourhoods had increased odds of greater vegetable intake. The other studies showed no evidence of a difference by neighbourhood-level SES. CONCLUSIONS: Acknowledging discrepancies across studies in terms of sampling, measures, and definitions of neighbourhoods, this opportunistic study, which treated data in a consistent manner, suggests that associations between diet and neighbourhood-level socioeconomic status vary across countries. Neighbourhood socioeconomic disadvantage may differentially impact on access to resources in which produce is available in different countries. Neighbourhood environments have the potential to influence behaviour and further research is required to examine the context in which these associations arise.

Corporate social responsibility, economic globalization and developing countries: a case study of the ready made garments industry in Bangladesh

Purpose – This paper aims to examine the state of corporate social responsibility (CSR) in labour-intensive industries in developing countries in the context of economic globalization. Using the ready-made garments’ (RMG) industry in Bangladesh as a case study, challenges and key issues relating to CSR are highlighted. Design/methodology/approach – The paper draws from the review of existing literature, and the content analysis of two leading newspapers in Bangladesh for a period of one year (July 2012-June 2013) to identify the key and contemporary issues related to CSR in the RMG industry. Findings – Findings identify the contemporary issues of concerns associated with CSR in the RMG industry, relating them to the debate on the applicability of Carroll’s CSR pyramid to developing countries. The findings suggest that non-compliance of CSR in labour-intensive industries is a function of the nature of economic globalization. The need for a stakeholder approach towards CSR for the profitability and sustainability of this industry is also highlighted. Practical implications – This paper makes contributions to two different but important interrelated discourses on CSR and economic globalization. It also provides insights into the complexity involved in CSR in labour-based export industries in developing countries and acts as a springboard for further research. Originality/value – The paper is the first to look at all major issues of concern regarding CSR in theRMG industry in Bangladesh. As Bangladesh is an exemplar of developing countries andRMGis a typical starter industry, the findings are generalizable to similar industries in other developing countries.

Optimizing health literacy: improving health and reducing health inequities: a selection of information sheets from the health literacy toolkit for low- and middle-income countries

This series of information sheets introduces health literacy, its relevance to public policy, and the ways it can be used to inform the promotion of good health, the prevention and management of communicable and noncommunicable diseases, and the reduction of health inequities. It provides information and links to further resources to assist organizations and governments to incorporate health literaacy responses into practice, service delivery systems, and policy.

Health literacy toolkit for low and middle-income countries: a series of information sheets to empower communities and strengthen health systems

This series of information sheets introduces health literacy, its relevance to public policy, and the ways it can be used to inform the promotion of good health, the prevention and management of communicable and noncommunicable diseases, and the reduction of health inequities. It provides information and links to further resources to assist organizations and governments to incorporate health literacy responses into practice, service delivery systems, and policy.