Foreign direct investment and economic growth: A real relationship or wishful thinking?

Several theories have been advanced on the beneficial effect of foreign direct investment (FDI) on economic growth. However, mixed empirical findings have resulted in a long-standing debate. This study explores the global FDI-growth relationship through an 'informed' econometric analysis predicated on substantial guidance obtained from a detailed investigation of 880 estimates reported in 108 published studies. With model uncertainties alleviated and the core specification benchmarked against the aforementioned assessment, our econometric analysis, utilising a global sample of 140 countries in the period 1970 to 2009, conclusively documents that FDI positively affects economic growth. Moreover, we find that this association holds globally as strongly as in the developing world. Further, it is regional variation rather than within-country variation, and contemporaneous FDI rather than past FDI, which matters for growth. Finally, appropriate absorptive capacity indicators for positive growth are identified to be trade openness and financial development rather than schooling.

Clinical review criteria and medical emergency teams: evaluating a two-tier rapid response system

OBJECTIVES: To assess the prevalence of patients fulfilling clinical review criteria (CRC), to determine activation rates for CRC assessments, to compare baseline characteristics and outcomes of patients who fulfilled CRC with patients who did not, and to identify the documented nursing actions in response to CRC values. DESIGN, SETTING AND PARTICIPANTS: A cross-sectional study using a retrospective medical record audit, in a universityaffiliated, tertiary referral hospital with a two-tier rapid response system in Melbourne, Australia. We used a convenience sample of hospital inpatients on general medical, surgical and specialist service wards admitted during a 24-hour period in 2013. MAIN OUTCOME MEASURES: Medical emergency team (MET) or code blue activation, unplanned intensive care unit admissions, hospital length of stay and inhospital mortality. For patients who fulfilled CRC or MET criteria during the 24- hour period, the specific criteria fulfilled, escalation treatments and outcomes were collected. RESULTS: Of the sample (N = 422), 81 patients (19%) fulfilled CRC on 109 occasions. From 109 CRC events, 66 patients (81%) had at least one observation fulfilling CRC, and 15 patients (18%) met CRC on multiple occasions. The documented escalation rate was 58 of 109 events (53%). The number of patients who fulfilled CRC and subsequent MET call activation criteria within 24 hours was significantly greater than the number who did not meet CRC (P < 0.001). CONCLUSIONS: About one in five patients reached CRC during the study period; these patients were about four times more likely to also fulfil MET call criteria. Contrary to hospital policy, escalation was not documented for about half the patients meeting CRC values. Despite the clarity of escalation procedures on the graphic observation chart, escalation remains an ongoing problem. Further research is needed on the impact on patient outcomes over time and to understand factors influencing staff response.

A Bourdieuian analysis of the aspirations associated with international students' investment in VET

An increasing number of students around the globe have pursuedtertiary education outside their national borders over the past few decades. There are over 4.5 million international students currently undertaking overseas study (OECD, 2014). Despite the growing focus of institutions around the world on internationalisation of education and increasing research interests in international education, the ‘mobility’ of international students remains a largely under-theorised phenomenon. This paper provides insights into the mobility of an often-neglected group within the field of international education –international students in vocational education and training (VET). It draws on a four-year study funded by the Australian Research Council that involves 105 semi-structured interviews with international students from the Asia Pacific region, Europe and America in 25 VET institutions and dual sector universities in Australia.

The relevance of Asian development bank: existing in the shadow of the Asian infrastructure investment bank

This paper analyses the potential impact of the China-led Asian Infrastructure Investment Bank (AIIB) on the Japan-USA-led Asian Development Bank (ADB). Given the financial strengths and the technical know-how of the newly formed AIIB there is a question about thefuture role and indeed relevance of the ADB. The questions canvassed in this article refer to ADB’s ability to change and adapt to the new situation, where it is no longer the dominant multi-lateral development bank (MDB) in the Asia-Pacific region. Against this background the discussion turns to issues concerning the geo-political sphere of influence of the ADB andAIIB and analyses the ADB – AIIB geo-political equilibrium in the Asia-Pacific region. Subsequently this paper discusses factors that may impact on ADB’s future relevance.

A practical guide to the application of the IUCN Red List of Ecosystems criteria

The newly developed IUCN Red List of Ecosystems is part of a growing toolbox for assessing risks to biodiversity, which addresses ecosystems and their functioning. The Red List of Ecosystems standard allows systematic assessment of all freshwater, marine, terrestrial and subterranean ecosystem types in terms of their global risk of collapse. In addition, the Red List of Ecosystems categories and criteria provide a technical base for assessments of ecosystem status at the regional, national, or subnational level. While the Red List of Ecosystems criteria were designed to be widely applicable by scientists and practitioners, guidelines are needed to ensure they are implemented in a standardized manner to reduce epistemic uncertainties and allow robust comparisons among ecosystems and over time. We review the intended application of the Red List of Ecosystems assessment process, summarize 'best-practice' methods for ecosystem assessments and outline approaches to ensure operational rigour of assessments. The Red List of Ecosystems will inform priority setting for ecosystem types worldwide, and strengthen capacity to report on progress towards the Aichi Targets of the Convention on Biological Diversity. When integrated with other IUCN knowledge products, such as the World Database of Protected Areas/Protected Planet, Key Biodiversity Areas and the IUCN Red List of Threatened Species, the Red List of Ecosystems will contribute to providing the most complete global measure of the status of biodiversity yet achieved.

GCC-Australian trade and investment trends and patterns

This chapter provides an overview of the recent trends and developments in Gulf Cooperation Council (GCC)–Australian trade and investment. GCC–Australian trade and investment has increased significantly over the last two decades. However, a closer look at the recent trends shows that so far Australian–GCC trade and investment remain highly concentrated in a few countries and in a narrow range of sectors. Opportunities therefore exist for Australian businesses to expand and diversify more broadly across all GCC states in more sectors of the economy.

Investment banks' entry into new IPO markets and IPO underpricing

We examine the relationship between investment banks' initial public offering (IPO) market shares and their prior IPO underpricing in the new IPO market for China-based companies on the Hong Kong Stock Exchange. To gain expertise in Chinese business practices, investment banks have the incentive to obtain business in this new IPO market by providing high offer prices to the issuer, leading to less underpricing and less money on the table. We hypothesize and find that the less an investment bank underprices Chinabased company IPOs, the greater its subsequent market share of China-based company IPOs in the Hong Kong Stock Exchange. Furthermore, this relationship is driven by a bank's initial China-based company IPO deals. These results suggest that in new IPO markets, investment banks' initial market shares, obtained through lower underpricing, help them grow their market shares in later periods, possibly through the expertise gained in the initial business.

A prospective observational study of prevalence and outcomes of patients with Gold Standard Framework criteria in a tertiary regional Australian Hospital

OBJECTIVES: Report the use of an objective tool, UK Gold Standards Framework (GSF) criteria, to describe the prevalence, recognition and outcomes of patients with palliative care needs in an Australian acute health setting. The rationale for this is to enable hospital doctors to identify patients who should have a patient-centred discussion about goals of care in hospital.

DESIGN: Prospective, observational, cohort study.

PARTICIPANTS: Adult in-patients during two separate 24 h periods.

MAIN OUTCOME MEASURES: Prevalence of in-patients with GSF criteria, documentation of treatment limitations, hospital and 1 year survival, admission and discharge destination and multivariate regression analysis of factors associated with the presence of hospital treatment limitations and 1 year survival.

RESULTS: Of 626 in-patients reviewed, 171 (27.3%) had at least one GSF criterion, with documentation of a treatment limitation discussion in 60 (30.5%) of those patients who had GSF criteria. Hospital mortality was 9.9%, 1 year mortality 50.3% and 3-year mortality 70.2% in patients with GSF criteria. One-year mortality was highest in patients with GSF cancer (73%), renal failure (67%) and heart failure (60%) criteria. Multivariate analysis revealed age, hospital length of stay and presence of the GSF chronic obstructive pulmonary disease criteria were independently associated with the likelihood of an in-hospital treatment limitation. Non-survivors at 3 years were more likely to have a GSF cancer (25% vs 6%, p=0.004), neurological (10% vs 3%, p=0.04), or frailty (45% vs 3%, p=0.04) criteria. After multivariate logistic regression GSF cancer criteria, renal failure criteria and the presence of two or more GSF clinical criteria were independently associated with increased risk of death at 3 years. Patients returning home to live reduced from 69% (preadmission) to 27% after discharge.

CONCLUSIONS: The use of an objective clinical tool identifies a high prevalence of patients with palliative care needs in the acute tertiary Australian hospital setting, with a high 1 year mortality and poor return to independence in this population. The low rate of documentation of discussions about treatment limitations in this population suggests palliative care needs are not recognised and discussed in the majority of patients.

TRIAL REGISTRATION NUMBER: 11/121.

Well-known trade marks, foreign investment and local industry : a comparison of China and Indonesia

Strengthened protection for well-known trade marks in accordance with the TRIPS Agreement is an important issue for developing countries, which has led to trade pressures from industrialised nations in the past. ‘Trade mark squatting’, referring to the registration in bad faith of foreign well-known marks in order to sell them back to their original owners, is a much discussed phenomenon in this context. This article outlines the history and development of well-known trade marks and the applicable law in China and Indonesia. It looks not just at foreign and international brands subjected to ‘trade mark squatting’, but also at how local enterprises are using the system. Rather remarkably in view of the countries’ turbulent histories, local well-known marks have a long history and are well respected for their range of products. They are not normally affected by the ‘trade mark squatting’ phenomenon and are rarely the subject of disputes. Enhanced protection under the TRIPS Agreement is especially relevant for international brands and the article shows the approaches in the two countries. In China, government incentives assist the proliferation of nationally well-known and locally ‘famous’ marks. In Indonesia, lack of implementing legislation has left the matter of recognition to the discretion of the courts.

Evaluation of three field monitoring-density estimation protocols and their relevance to Komodo dragon conservation

Finding practical ways to robustly estimate abundance or density trends in threatened species is a key facet for effective conservation management. Further identifying less expensive monitoring methods that provide adequate data for robust population density estimates can facilitate increased investment into other conservation initiatives needed for species recovery. Here we evaluated and compared inference-and cost-effectiveness criteria for three field monitoring-density estimation protocols to improve conservation activities for the threatened Komodo dragon (Varanus komodoensis). We undertook line-transect counts, cage trapping and camera monitoring surveys for Komodo dragons at 11 sites within protected areas in Eastern Indonesia to collect data to estimate density using distance sampling methods or the Royle-Nichols abundance induced heterogeneity model. Distance sampling estimates were considered poor due to large confidence intervals, a high coefficient of variation and that false absences were obtained in 45 % of sites where other monitoring methods detected lizards present. The Royle-Nichols model using presence/absence data obtained from cage trapping and camera monitoring produced highly correlated density estimates, obtained similar measures of precision and recorded no false absences in data collation. However because costs associated with camera monitoring were considerably less than cage trapping methods, albeit marginally more expensive than distance sampling, better inference from this method is advocated for ongoing population monitoring of Komodo dragons. Further the cost-savings achieved by adopting this field monitoring method could facilitate increased expenditure on alternative management strategies that could help address current declines in two Komodo dragon populations.

Evaluation of tender solutions for aviation training using discrete event simulation and best performance criteria

This paper describes a novel discrete event simulation (DES) methodology for the evaluation of aviation training tenders where performance is measured against “best performance” criteria. The objective was to assess and compare multiple aviation training schedules and their resource allocation plans against predetermined training objectives. This research originated from the need to evaluate tender proposals for the Australian Defence Aviation Training School that is currently undergoing aviation training consolidation and helicopter rationalization. We show how DES is an ideal platform for evaluating resource plans and schedules, and discuss metric selection to objectively encapsulate performance and permit an unbiased comparison. DES allows feasibility studies for each tender proposal to assure they satisfy system and policy constraints. Consequently, to create an objective and fair environment to compare tendered solutions, what-if scenarios have been strategically examined to consider improved implementations of the proposed solutions.

Revising the Program Portfolio: Elevating Academic Program Performance and Strategic Alignment

At many institutions, program review is an underproductive exercise. Review of existing programs is often a check-the-box formality, with inconsistent criteria and little connection to institutional priorities or funding considerations. Decisions about where to concentrate resources across the portfolio can be highly politicized. This report profiles how academic planning exemplars use program review as a strategic tool, integrating data on academic quality, student demand, and resource utilization to improve the economics of challenged programs and prioritize programs for investment and expansion.

Models of Community Investment and Partnership Strategies and Processes for Ensuring Mutual Benefit between Institution and Community

Institutions continue to face increasing pressure from faculty, students, and other concerned constituents to divest endowment holdings from perceived social injustices. In this report, investment officers and advisory committee members offer insight into institutional practices used to respond to these concerns through the adoption of socially responsible investment policies and other socially responsible investment options. Contacts offer recommendations on balancing the administration’s fiduciary responsibility to ensure maximum endowment returns with the social concerns of institutional constituents.

An assessment of criteria to evaluate the graduate education program in Brazil

This study sought to identify criteria adequate for the evaluation of graduate programs in Brazil. A survey was the means for collecting the ratings and rankings given by faculty members at selected Brazilian graduate programs. A questionnaire using Likerttype and ranking items asked the importance attributed by each respondent to each of the 109 items listed. The data analysis reported in this dissertation indicates that the most highly rated criteria and indicators were: (1) Library: current periodicals; (2) Facilities: classrooms and laboratories; (3) Library: books and monographs; (4) Academic Environment: discussion, investigation, and expression; and (5) Facilities: research space and equipment. The study presents the means and standard deviations obtained for each indicator and also includes some figures obtained for a relational analysis. This dissertation was developed to provide useful information to educational planners, policy makers, administrators, and evaluators involved in Brazilian higher education or comparative studies. It is suggested that additional investigations concentrate on more specific and in-depth analysis and interpretation of the policymaking processes, i.e., on the study of social facts or organizational and academic variables in their relationships with aspects of the educational system. The appendices section includes a facsimile of the questionnaire and additional data.