Exploding the stability myth : structural change in the Australian trade union movement, 1969-85

Traditional studies of long-term change in trade union structure have predominantly relied upon the aggregate number of trade unions as the principal measure, or indicator of change over time. Using the Australian trade union movement as an example, this article argues that our understanding of the long-term change in the external structure of trade unions would be better served by using Waddington's structural events approach examining the incidence of four distinct 'structural events'--union formations, dissolutions, breakaways and mergers. In doing so, this article presents new data on structural change in the Australian trade union movement between 1969 and 1985. It casts doubt on the traditional argument, which relied on the apparent lack of change in the aggregate number of unions reported by the Australian Bureau of Statistics to argue that this period was one of structural rigidity. The structural events data reveals that far from being a period of structural stability, it was in fact one of significant change, albeit in the composition of the Australian trade union movement, rather than in the aggregate number of trade unions in operation.

Revisiting capital structure theory : a test of pecking order and static order trade-of model from Malaysian capital market

This study revisits the capital structure theory and test Pecking Order Hypothesis (POH) and Static Order Trade-off theory (STOT) using Malaysian Listed firms over a period from 1999 to 2002. The evidence from pecking order model suggests that the internal fund deficiency is the most important determinant that possibly explains the issuance of new debt in Malaysian capital market despite the lower predicting power.  While static trade off-model is not fit to explain the issuance of new debt issue in Malaysian capital market. This is an interesting findings that confirm the fact that Malaysian firms do not too much care about tax-shield benefit derive from employ both debt and non-debt tax-shield. The finn's size, which is used to neutralize the size effect, appears to provide some explanation for the variation in its capital structure policy choice; however asset structure and growth no evidence of static-order-trade-off is observed in Malaysian capital market.

Product specialization in international trade : a further investigation

In an influential paper, Schott [Schott. Peter K. (2004). “Across-product versus within-product specialization in international trade.” Quarterly Journal of Economics, 119 (2): 647–678] makes two empirical observations about U.S. imports. (1) The United States is increasingly sourcing the same product (however narrowly defined) from both developed and developing countries. That is, ‘across-product specialization’ has been decreasing. (2) The unit values of these multiple-sourced products are positively and significantly correlated with the capital and skill abundance of exporters and with the capital–labor ratios used by exporters. That is, endowments-driven ‘within-product specialization’ has been increasing. We show that both these observations extend to the imports of Brazil, India and Japan. However, our main finding is that observation (1) is largely driven by two factors. First, China is the dominant low-wage exporter of multiple-sourced products. Second, the most developed countries remain the primary exporters of multiple-sourced products. The U.S. case is the most extreme of our four importers: When China is deleted from the U.S. import data there is no trend in across-product specialization and rich exporters are increasing their trade share of multiple-sourced products. Since deleting China has no theoretical justification, these results must be viewed not as a contradiction of Schott's work but as a way of deepening our understanding of his empirical results.

A cross country analysis of dynamics in comparative advantage and trade patterns in textiles and clothing

This paper examines pattern of comparative advantage in textiles and clothing trade as revealed by export shares of selected developed and developing economies. The estimated revealed comparative advantage (RCA) indices provided strong evidence of comparative advantage enjoyed by the developing economies. However, a few developed high income economies have enjoyed sustainable comparative advantage, especially in textiles trade. Significant negative correlations are observed between country specific income levels and the estimated absolute and relative RCA indices. While most of the developing economies achieved significant improvement of comparative advantage over time in clothing trade, the evidence is mixed for textiles. Additional evidence from Grubel-Lloyd (G-L) index of intra industry trade (IIT) suggest that global textiles trade could be mainly explained on the basis of product differentiation and economies of scale while clothing trade is more based on comparative advantage. Results of the study also suggest that the trading nations should engage in exploitation of forms of competition such as product differentiation in textiles trade, whereas for clothing, cost minimising remains a valid strategy.

Children's fruit and vegetable intake : Associations with the neighbourhood food environment

Objective : To examine associations between availability of different types of food outlets and children's fruit and vegetable intake.
Method : Parents of 340 5–6 and 461 10–12 year-old Australian children reported how frequently their child ate 14 fruits and 13 vegetables in the last week in 2002/3. A geographic information system (GIS) was used to determine the availability of the following types of food outlets near home: greengrocers; supermarkets; convenience stores; fast food outlets; restaurants, cafés and takeaway outlets. Logistic regression analyses examined the likelihood of consuming fruit ≥ 2 times/day and vegetables ≥ 3 times/day, according to access to food outlets.
Results : Overall, 62.5% of children ate fruit ≥ 2 times/day and 46.4% ate vegetables ≥ 3 times/day. The more fast food outlets (OR = 0.82, 95%CI = 0.67–0.99) and convenience stores (OR = 0.84, 95%CI = 0.73–0.98) close to home, the lower the likelihood of consuming fruit ≥ 2 times/day. There was also an inverse association between density of convenience stores and the likelihood of consuming vegetables ≥ 3 times/day (OR = 0.84, 95%CI = 0.74–0.95). The likelihood of consuming vegetables ≥ 3 times/day was greater the farther children lived from a supermarket (OR = 1.27, 95%CI = 1.07–1.51) or a fast food outlet (OR = 1.19, 95%CI = 1.06–1.35).
Conclusion : Availability of fast food outlets and convenience stores close to home may have a negative effect on children's fruit and vegetable intake.

Regional trade agreements : performance evaluation and research agenda

This paper proposes a broad model for key success factors in Regional Trade Agreements (RTAs). Current literature is relatively limited in its focus on largely economic consequences of RTAs and the externalities are mostly ignored. This model incorporates five predictor dimensions forming the character of a RTA as follows: (1) Economic, (2) Socio-Cultural, (3) Negotiation, (4) Country Objectives and (5) Review process. It proposes a methodology for the empirical testing of the proposed model. The proposed model, potentially, facilitates the measurement of the character of a RTA and its association with various RTA objectives.

The role of sister city relationships in the enhancement of trade : Latrobe City (Australia) and Taizhou (China)

Traditionally the role of Sister City relationships has been a political and cultural one involving local governments across the world. Over the decades this role has been questioned in both its efficacy as well as its
focus. Hundreds of Sister City relationships have developed and in Australia velY few can be said to have produced long term and worthwhile outcomes. New interpretations of the /ill1ctionality of Sister City relationships in Australia (and elsewhere) has resulted and has shifted towards an inclusion of a consideration of the commercial utility of such relationships and not solely cultural (0 'Toole 2001). Today especially with current strong trade relations with China, new models are sought to provide sustainability and long term prospects to such relations. This paper examines the possibility of special sister city relations between
Australian and Chinese cities using their sister city links. Specifically an examination in this paper is undertaken of the City of Latrobe and Taizhou as a case study of interest which provides sustainable trade potential between two strong small medium enterprise (SME) economies.

Market makers v's the general public : a first look at S & P500 futures trade data

This paper considers 15 minute records of trading volume and traded prices coinciding with the reporting intervals required by the Commodity Futures Trading Commission. Records are extracted from trade records for market trade and also two way trade between market makers (CT1) and the general public (CT4) from January 1994 to June 2004. Futures price records are matched with S&P500 cash index price records. Simultaneous volatility models are specified and estimated to test trading volume to futures volatility lead/lag effects and also futures volatility to cash index volatility lead/lag effects. As we disaggregate from the market records to CT1 and CT4 records and further into year to year samples volume to futures volatility leading effects and also futures volatility to cash volatility leading effects dominate. The results raise important issues for risk management and dynamic hedging models employing intra-day trader data. A number of important issues for further analysis are also raised in this paper.

Does testosterone mediate the trade-off between nestling begging and growth in the canary (Serinus canaria)?

Nestling birds solicit food from their parents with vigorous begging displays, involving posturing, jostling and calling. In some species, such as canaries, begging is especially costly because it causes a trade off against nestling growth. Fitness costs of begging like this are predicted by evolutionary theory because they function to resolve conflicts of interest within the family over the provision of parental investment. However, the mechanism that links these costs with nestling behaviour remains unclear. In the present study, we determine if the relationships between nestling androgen levels, nestling begging intensities and nestling growth rates are consistent with the hypothesis that testosterone is responsible for the trade-off between begging and growth. We test this idea with a correlational study, using fecal androgens as a non-invasive method for assaying nestling androgen levels. Our results show that fecal androgen levels are positively correlated with nestling begging intensity, and reveal marked family differences in each trait. Furthermore, changes in fecal androgen levels between 5 and 8 days after hatching are positively associated with changes in nestling begging intensity, and negatively associated with nestling growth during this time. Although these correlational results support our predictions, we suggest that that experimental manipulations are now required to test the direct or indirect role of testosterone in mediating the trade-off between begging and growth.

Examining the relationship between trade balance and exchange rate : the case of China's trade with the USA

In this paper, we investigate the nexus between China's trade balance and the real exchange rate vis-à-vis the USA. Using the bounds testing approach to cointegration, we find evidence that China's trade balance and real exchange rate vis-à-vis the USA are cointegrated, and using the autoregressive distributed lag model we find that in both the short run and the long run a real devaluation of the Chinese RMB improves the trade balance; as a result, there is no evidence of a J-curve type adjustment.

Frequency-dependent physiological trade-offs between competing colour morphs

Evolutionary theory suggests that alternative colour morphs (i.e. genetically controlled phenotypes) may derive similar fitness under frequency-dependent selection. Here we experimentally demonstrate opposing effects of frequency-dependent social environments on plasma hormone levels (testosterone and corticosterone) and immune function between red- and black-headed male morphs of the Gouldian finch (Erythrura gouldiae). Red-headed males are highly sensitive to changes in the social environment, especially towards the relative density of their own aggressive morph, exhibiting high stress responses and immunosuppression in socially competitive environments. In contrast, the non-aggressive black-headed males follow a more passive strategy that appears to buffer them against social stresses. The differential effect of hormones on aggressive behaviour and immune performance reinforces the contrasting behavioural strategies employed by these colour morphs, and highlights the importance of the social environment in determining the individual basis of behavioural and physiological responses.