European deposit insurance: financing the transition. CEPS Commentary, 6 September 2012

Arguing that the planned move to put the ECB in charge of banking supervision would be incomplete without a European Deposit Insurance and Resolution Authority (EDIRA), Daniel Gros and Dirk Schoenmaker spell out in a new CEPS Commentary some underlying principles to guide a gradual transition under which only future risks would be shared while past losses would remain at the national level. They show that ultimately such a new institution would serve as a genuine source of confidence in the European banking system.

Observed adaptation to climate change: UK evidence of transition to a well-adapting society

This paper investigates whether and to what extent a wide range of actors in the UK are adapting to climate change, and whether this is evidence of a social transition. We document evidence of over 300 examples of early adopters of adaptation practice to climate change in the UK. These examples span a range of activities from small adjustments (or coping) to building adaptive capacity, implementing actions and creating deeper systemic change in public and private organisations in a range of sectors. We find that adaptation in the UK has been dominated by government initiatives and has principally occurred in the form of research into climate change impacts. These actions within government stimulate a further set of actions at other scales in public agencies, regulatory agencies and regional government (or in the devolved administrations), though with little real evidence of climate change adaptation initiatives trickling down to local government level. The water supply and flood defence sectors, requiring significant investment in large scale infrastructure such as reservoirs and coastal defences, have invested more heavily in identifying potential impacts and adaptations. Economic sectors that are not dependent on large scale infrastructure appear to be investing far less effort and resources in preparing for climate change. We conclude that while the government-driven top-down targeted adaptation approach has generated anticipatory action at low cost, it may also have created enough niche activities to allow for diffusion of new adaptation practices in response to real or perceived climate change. These results have significant implications for how climate policy can be developed to support autonomous adaptors in the UK and other countries.

The transition of the Polish real estate market within a Central and Eastern European context

The real estate market in Poland is a relatively immature market, but one that has been experiencing substantial transformation. The development of the market has been encouraged by a number of factors, including changes arising as a result of new legislation and the migration of capital between capital markets. The progress of the real estate sector towards a western style competitive market has taken place within the gradual transformation of the Polish economy into a free market economy. As investment grade property is in relatively short supply in Poland, investors consider opportunities within the wider CEE block. An analysis of the risk-return characteristics of the three largest CEE real estate markets namely, Poland, Hungary and Czech Republic, shows that the returns in these markets have been negatively correlated with the UK. As these economies and markets evolve, and being part of the wider EU trading block, their economic performance will slowly converge and become more synchronized with their western counterparts. However, the catch-up of the CEE markets to western European performance cycles will be protracted and consequently there are likely to be significant ongoing portfolio risk reduction opportunities

New animals, new landscapes and new worldviews: the Iron Age to Roman transition at Fishbourne

Anthropologists and cultural geographers have long accepted that animals play an important role in the creation of human cultures. However, such beliefs are yet to be embraced by archaeologists, who seldom give zooarchaeological data much consideration beyond the occasional economic or environmental reconstruction. In an attempt to highlight animal remains as a source of cultural information, this paper examines the evidence for the changing relationship between people and wild animals in Iron Age and Roman southern England. Special attention is given to ‘exotic’ species — in particular fallow deer, domestic fowl and the hare — whose management increased around AD 43. In Iron Age Britain the concept of wild game reserves was seemingly absent, but the post-Conquest appearance of new landscape features such as vivaria, leporaria and piscinae indicates a change in worldview from a situation where people seemingly negotiated with the ‘wilderness’ and ‘wild things’ to one where people felt they had the right or the responsibility to bring them to order. Using Fishbourne Roman Palace as a case study, we argue that wild and exotic animals represented far more than gastronomic treats or symbols of Roman identity, instead influencing the way in which people engaged with, traversed and experienced their surroundings.

Chronic Diseases: Chronic Diseases and Development 2 Health, agricultural, and economic effects of adoption of healthy diet recommendations

Transition to diets that are high in saturated fat and sugar has caused a global public health concern as the pattern of food consumption is a mayor modifiable risk factor for chronic non-communicable diseases Although agri food systems are intimately associated with this transition, agriculture and health sectors are largely disconnected in their priorities policy, and analysis with neither side considering the complex inter relation between agri trade patterns of food consumption health, and development We show the importance of connection of these perspectives through estimation of the effect of adopting a healthy diet on population health, agricultural production trade the economy and livelihoods, with a computable general equilibrium approach On the basis of case studies from the UK and Brazil we suggest that benefits of a healthy diet policy will vary substantially between different populations, not only because of population dietary intake but also because of agricultural production trade and other economic factors

Economic reforms, cultural policy : opportunities and challenges to the arts and culture in Vietnam in the age of globalization

The author investigates social change in Vietnam in the late 1980s-2000s, a transition from a subsidized economy to a market-oriented economy. The author discusses the influences of socioeconomic changes on the operation of the performing arts sector through analyzing changes in cultural policies, opportunities, and challenges confronted by performing arts organizations. The new cultural policy allows arts organizations, arts managers, and artists more opportunities to develop a greater degree of autonomy and more freedom in performing, programming and other artistic activities. The author believes that open policies will motivate Vietnam to develop its own national identity and to participate in cultural exchange with other parts of the world. However, under the impact of global culture, global economics, cuts in state funding, and rapid technological development, the performing arts sector has faced challenges in terms of financial viability, audience development, and balance between commercialization and artistic creativity. The author suggests that privatization should be implemented depending on the art form. Consideration should be given by the Vietnamese government to implementing appropriate funding policies and schemes, as state funding still forms a significant part of public companies' incomes.

Considerations for performing arts organisations in a climate of transition to the open market context in Vietnam

The emergence of a global economy and culture has created a worldwide climate of change since the 1980s. These changes impact on the growth of a national economy and change the significance of sectors in society, for example the service sector, which increasingly accounts for an important part of the economy (Burbules & Torres, 2000). The arts have also been profoundly influenced by social changes, and technological development. While these changes pose new challenges for the arts, most of which struggle for financial viability in an era of globalisation, privatisation and reduced public funding, the developments also open new opportunities for arts companies/artists but require them to possess the capability to identify and adapt to change. This process underlines the necessary new capacities of arts management, arts marketing, arts leaders and artists.

Doi moi - Vietnamese economic reforms in 1986 - provided impetus for change in every sector, resulting in growth of the service sector in Vietnam (UNDP, 2002). Arts organisations in Vietnam found themselves operating in a more competitive environment, forcing them to adjust to this new economic structure. Improved Vietnamese living standards helped to create more demands for a diverse entertainment industry and allowed both the government and individuals to spend more on the arts. A new cultural policy - socialisation (somewhat equivalent to privatisation in Western countries) was implemented in the arts and cultural sector, producing for performing arts organisations (PAOs) as well as a broader cultural milieu in Vietnam, challenges of being self-sustaining but also more autonomy and greater funding diversity. Simultaneously, this led to upgraded artistic standards, improved infrastructure and higher musicians’ salaries; the latter having only experienced slow improvement during the subsidised era.

This paper investigates how social changes affected organisational operations of selected PAOs in Vietnam and Australia. The analysis of how PAOs in each country adjusted to rapid changes will provide experience for learning from each other, particularly for the Vietnamese case. These analyses provide points of discussion, comparison and implications for development of arts management training in Vietnam. Case studies, personal interviews with key participants and policy actors have been used to discern which direction performing arts management should take in order to correspond with Vietnam’s present and future economic situation and its political position in the world.

Project management practice in transition of old residential region

With the rapid urbanisation worldwide, the transitions of old residential regions inside or close to the urban districts have been challenging both governments and professionals. The sustainable maintenance, innovation and construction of these regions incorporate the history, culture, environment and policy factors into the economic objectives. Over the long and complex process of a transition project, the dedicated project management crew are frequently confronted with diversified novel issues and obliged to contribute appropriate solutions urgently. In this paper, the authors first analyse the state of the art of transition projects of old residential regions based on their practices in real projects. Furthermore, the authors explore the sustainable alternatives of transition projects from the reservation and development perspectives of culture, environment, society and infrastructure. Finally, the authors develop a multi-dimensional implementary framework for guiding the practices of management of transition projects.

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.

Political transition in Myanmar: prospects and problems

Since 2011, Myanmar has been undergoing a political transition that, in keeping with the Myanmar government's own claims, has been hailed by many previously critical countries as the start of a process of democratization. Myanmar has become a substantially more liberal country, and in particular its economy has been increasingly liberalized, away from the tight restrictions of the past. However, Myanmar's economic liberalization primarily benefits its entrenched and usually military-dominated or linked elites, while its political liberalization may be just enough to satisfy an appearance of democratization without the army giving up real power. This article looks at Myanmar's process of political liberalization set against some of the literature on political transitions, and highlights some factors that could militate against extensive reform, much less democratization. It concludes by noting that while Myanmar's military has started to step back from direct political control, it still retains ultimate state authority. © 2014 Policy Studies Organization.

Economic edifice, urbanisation and rural education in developing countries

The nexus between economic edifice, urbanisation and education is a somewhat understudied area in the academic literature. This applies especially to the urban-rural nexus and its impact on transition in economic edifice, which are especially pronounced in developing countries. This article addresses some selected consequences of urbanisation on education in developing countries within a context of transition in economic edifice. It is argued that transitions in economic edifice are for rural populations at times unrestrained and precipitous. It is further argued that the transition economic edifice impacts on social, economic and personal interests of not only the school-aged population, but also of the working and retired population. Against this background, this article discusses factors relating to effects of urbanization within a context of urbanisation and urbanisation theories, including transition in economic edifice, globalization, employment and employability, and vocationalisation of education. In conclusion opportunities and challenges for education in the context of transforming an economic structure in rural areas in a contemporary context is brought to the fore.

Making sense of business leadership vis-à-vis china’s reform and transition

Purpose – The purpose of this paper is to explore the contemporary paradigm of business leadership vis-à-vis China’s reform and transitional context. Design/methodology/approach – The paper employs an evidence-based approach to explore the business leadership issues influenced by economic reform and within the context of societal transition in China. A qualitative research method was adopted based on in-depth interviews with a number of middle managers from a variety of Chinese enterprises, including state-owned, domestic-private and foreigninvested enterprises. Content analysis of several rounds of interviews added depth to the data analysis. Findings – The findings complement existing thoughts and illustrate concepts, issues, and characteristics not yet emphasized in mainstream literature. General patterns and associated characteristics of business leadership in China, as well as specific patterns associated with different forms of enterprise ownerships, are identified. Research limitations/implications – The study makes a timely and necessary contribution that enriches context-specific understandings of business leadership against the backdrop of surrounding economic, social, and cultural changes. Practical implications – The study enriches understandings of commonalities and differences in leadership across the globe, facilitating working collaboratively to achieve common goals in a global community. Originality/value – The study offers new insights into business leadership by linking contextual, personal, and cognitional factors together and demonstrates some unique characteristics of leadership styles in transitional economies like China.

Political institutions as substitute for democracy: a political economy analysis of economic growth

This manuscript empirically assesses the effects of political institutions on economic growth. It analyzes how political institutions affect economic growth in different stages of democratization and economic development by means of dynamic panel estimation with interaction terms. The new empirical results obtained show that political institutions work as a substitute for democracy promoting economic growth. In other words, political institutions are important for increasing economic growth, mainly when democracy is not consolidated. Moreover, political institutions are extremely relevant to economic outcomes in periods of transition to democracy and in poor countries with high ethnical fractionalization.

Money supply and capital accumulation on the transition path revisited

Fischer (1979) and Asako (1983) analyze the sign of the correlation between the growth rate of money and the rate of capital accumulation on the transition path. Both plug a CRRA utility (based on a Cobb-Douglas and a Leontief function, respectively) into Sidrauski's model - yet return contrasting results. The present analysis, by using a more general CES utility, presents both of those settings and conclusions as limiting cases, and generates economic gures more consistent with reality (for instance, the interest-rate elasticity of the money demands derived from those previous works is necessarily 1 and 0, respectively).