http://nova.newcastle.edu.au/vital/access/services/Feed ${session.getAttribute("locale")} 5 http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:11536 Over the last two decades, international migration has grown rapidly, mainly due to globalisation of economic activity and its ensuing effect on international labour migration. These recent episodes of rising international migration and remittance flows present challenges to both developed and developing countries. With US$16.4 billion in official remittances in 2008, the Philippines stand prominent as one of the major remittance-receiving and labour-exporting countries in the world. This paper provides critical review of migration policy reform in the Philippines and assesses the impacts of remittances on the Philippine economy. 2012-09-17T01:14:48.730Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:10603 From the end of World War II until the early 1970s, vocational education and training (VET) in Australia was surprisingly static and resilient to government-led reform, due to the dominance of industry and union power. Following the oil shocks of 1973 and associated unemployment and declining union power, there have been calls on the federal and state governments to adopt a more proactive approach to dealing with quality assurance in the VET sector. In recent times, private registered training organisations (RTOs) are increasingly being used by federal and state governments to directly address the unemployment problem through programs such as the Productivity Places Program. As a result, an examination of quality assurance in the VET sector is increasingly important. This paper reviews the evolution of VET in Australia and examines what impact policy reforms have had on quality assurance in VET, identifying some opportunities and challenges facing the Australian VET sector in the changing global economy. 2012-04-12T01:35:11.593Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:42 Optimal intertemporal investment behaviour of Australian pastoralists is modelled using panel data for the period 1979-1993. Results indicate that quasi-fixity of inputs of labour, capital, sheep numbers and cattle numbers is characteristic of production in the pastoral region. It takes about two years for labour, four years for capital and a little over two years for both sheep numbers and cattle numbers to adjust towards long-run optimal levels. Results also indicate that, after accounting for adjustment costs, own-price product supply and input demand responses are inelastic in both the short and long run. 2012-03-01T01:22:05.328Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:54 Although Thailand has achieved a spectacular average annual growth rate of 8% in the past two decades, due largely to the opening of the economy to international trade, there is not yet a consensus on the exchange rate regime that is most suited to the restoration of sustained growth in Thailand. This Study empirically investigates the predictors of exchange rate regimes in Thailand using quarterly data spanning the period 1990:1 and 2002:3. Results indicate that the government is likely to choose a pegged exchange rate regime in periods of monetary shocks and unsustainable public finance whereas an open economy with a degree of economic development and foreign reserves will encourage the government to opt for a flexible exchange regime in Thailand. 2012-03-01T00:44:42.899Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:10204 The South African automotive industry was heavily protected during the early years of its industrial development. Beginning in 1989, the automotive industry experienced major policy reforms. The purpose of this paper is to examine the welfare effects of protection in the South African automotive industry. Simulation analyses of the economic gains and losses to consumers and producers of automobiles has revealed that protection of the auto industry imposes substantial costs on consumers and transfers large benefits to assemblers and component suppliers within the South African automotive industry. The government revenue is large. The results indicate substantial societal deadweight efficiency loss to South Africa. 2012-02-27T23:20:03.659Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:10189 This paper investigates the causes of an individual firm's stock crash at the Hong Kong stock market. A probit prediction model relating the probability of a firm experiencing a stock crash to financial ratios and announcement of special events derived and estimated using data obtained from the Hong Kong Stock Exchange database between 1997 and 2005. Results provide strong empirical evidence to support the assertion that financial ratios of firm size, cash position, firm profitability, and announcement of special events by a firm are useful for determining whether a firm experiences a stock crash. The capital structure, quality of earnings and working capital management were found to be statistically non-significant in influencing the probability of experiencing a stock crash at the Hong Kong Stock Exchange. 2012-02-27T22:20:05.601Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:92 Purpose - This study seeks to examine empirically import demand for total pulses, chickpeas and lentils in India based on the concept of unit root and cointegration. Design/methodology/approach - The Stock-Watson dynamic OLS (DOLS) model - which is robust to small sample and eliminates simultaneity bias - is used to derive the long-run price, income and urbanisation elasticities of import demand. The data covers the period 1970-2000. Findings - Results indicate that real GDP, relative price and urbanisation are the key determinants of import demand for pulses in India. The estimated long-run elasticities of import demand with respect to income (relative price) are 0.4 (-1.7) for chickpeas, 0.56 (-0.87) for lentils and 0.36 (0.00) for total pulses. The estimated long-run elasticities of import demand with respect to urbanisation are 9.9 for chickpeas, zero for lentils and 7.2 for total pulses. The policy implications of the results are discussed. Originality/value - Provides evidence that the response of import demand for pulses to key determinants differ substantially from product to product. 2012-01-31T01:57:58.246Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:9342 This study empirically investigates the impact of economic, demographic, and political factors on the size of emigration from the Philippines. In 2007, overseas workers from the Philippines sent remittances in excess of US$14 billion annually to their families back home. Although these remittances are an important source of foreign exchange and play an important role in economic development, the determinants of emigration in the Philippines are not well established. A simple unrestricted error correction model of migration was specified and estimated using data spanning the period 1975–2005. Results indicate that the level of unemployment, adult literacy and population density are the key determinants of emigration in the Philippines. The result also indicates that government instability impacts negatively on emigration in the Philippines. The policy implications of the results are discussed. 2011-11-13T22:40:11.885Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:8978 From the end of World War II until the early 1970s, Vocational Education and Training (VET) in Australia was surprisingly static and resilient to government-led reform, due to the dominance of industry and union power. Following the oil shocks of 1973 and associated unemployment and declining union power, there have been calls on the federal and state governments to adopt a more proactive approach to dealing with quality assurance in the VET sector. Today, private Registered Training Organisations are increasingly used by governments to directly address unemployment through programs such as the Productivity Places Program. As a result, an examination of quality assurance in the VET sector is increasingly important. This paper reviews the evolution of VET in Australia and examines what impact policy reforms have had on quality assurance in VET, identifying some opportunities and challenges facing the Australian VET sector in the changing global economy. 2011-09-16T05:40:06.560Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:8793 Over the last two decades, international migration has grown rapidly, mainly due to globalisation of economic activity and its ensuing effect on international labour migration. The dramatic growth in remittances has captured the attention of governments and international agencies because of its potential to contribute to economic growth and development of national and regional economies as well as reduce poverty. These recent episodes of rising international migration and remittance flows present challenges to both developed and developing countries. With US$16.4 billion in official remittances in 2008, the Philippines stand prominent as one of the major remittance-receiving and labour-exporting countries in the world. This paper provides critical review of migration policy reform in the Philippines and assesses the impacts of remittances on the Philippine economy. 2011-08-30T05:10:03.625Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:8361 This article investigates the impact of regional integration on intra-industry trade in manufactures between Thailand and other APEC countries. The study uses pooled cross-sectional and time-series data spanning the period 1980–1999 at a 3-digit Standard International Trade Classification (SITC) level. After accounting for trade imbalance and following Thailand's entry into APEC, intra-industry trade in manufactures between Thailand and countries in Oceania and America decreased, while trade with other Asian countries grew marginally. Results indicate that, in the post APEC era, trade openness stimulated increased intra-industry trade levels with countries in Northeast and Southeast Asia, but decreased trade with countries in America. 2011-07-20T03:40:03.610Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:7979 This paper estimates aggregate short-run and long-run import demand functions for the Philippines using data for the period 1960-2006. Results indicate that import demand and its determinants are cointegrated in the long run. The import demand with respect to expenditure components is inelastic in both the short run and long run. The error correction mechanism indicates that equilibrium is attained in nearly two years after a shock to expenditure components of the import demand function. Short-run determinants of import demand are exports and domestic investment, while the long-run determinants of import demand are exports, domestic investment and government expenditure. 2011-06-28T04:40:06.439Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:7469 After years of intense protection, the South African automobile industry has undergone major policy reforms. This paper investigates the impact of policy reforms on the welfare of consumers, producers and society as a whole. The results of the simulation analysis indicate that, following the removal of domestic content requirements and reduction in tariffs, there has been significant reduction in consumer welfare loss and societal deadweight loss in the automobile industry, while tariff revenue to the South African government has significantly decreased. The results demonstrate that further reduction in tariffs on completely built-up units and completely knocked-down units is likely to result in further reduction in efficiency loss, thus leading to an improvement in the performance of South Africa’s automobile industry. 2011-03-25T05:30:14.856Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:6643 This chapter analyzes the long-run relationships between Ghana's trade balance and real domestic and foreign income, real money supply, interest rates and the exchange rate, using annual data for the period 1970-2002. the key findings are summarized. First, the most recent techniques for unit root and co-integration testing were employed to investigate the stationary of the series. The results indicate that the trade balance and the key determinants are non-stationary in levels. Secondly, the Johansen MLE multivariate co-integration procedure reveals that Ghana's trade balance and the key determinantcare co-integrated, and thus share a long-run equilibrium relationship. Thirdly, the Stock-Watson dynamic OLS (DOLS) modelling, which is superior to a number of alternative estimators finds that the key determinants of Ghana's trade balance are real domestic and foreign income, domestic and foreign interest rates, the nominal exchange rate, and real foreign money supply. Fourthly, the results of this study indicate that devaluation of the Ghanaian cedi worsens the trade balance in the long run. To sum up, the information provided in this study is particularly useful for policymakers who want to anticipate future changes in the trade balance in response to devaluation of the Ghanaian cedi and other monetary variables. 2010-09-10T01:50:09.039Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:6523 A growing number of studies have concluded that South Africa has one of the highest cases of HIV infections in the world. With the epidemic continuing to evolve at an alarming rate, the government of South Africa has regarded the HIV/AIDS epidemic as a developmental and socio-economic policy issue. This study explores the impact of HIV/AIDS on food demand in South Africa. Food demand functions were estimated using time-series data for the period 1970 to 2000. Simulation analyses were undertaken to examine “with AIDS” and “without AIDS” scenarios. Unlike previous empirical findings, which dwell on the major negative impact of HIV/AIDS on food demand patterns in South Africa, this study foreshadows a more mixed outcome of both negative and positive impacts on the demand patterns for specific food types in South Africa as consequences of the HIV/AIDS epidemic and recommends policy changes. 2010-07-08T03:30:28.204Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:899 This paper empirically investigates the determinants of intra-industry trade in manufactures between Thailand and other APEC countries. A 3-digit Standard International Trade Classification (SITC) data for the period 1980-1999 is employed in the analyses. Tests of various hypotheses of the determinants of intra-industry trade are developed and performed. Results indicate that, in the pre-APEC era, intra-industry trade was negatively associated with disparity in economic development and transport and information costs between trading partners, but positively related with similarity in sophistication of the economies, capital intensity, culture and the level of openness of the economy. In the post APEC era, intra-industry trade increased with economic size, but the effect was weaker. Disparities in economic development become less important in influencing Thailand’s intra-industry trade in manufactures. By adjusting for trade imbalance, the results reveal that Thailand’s entry into APEC has stimulated growth in intra-industry trade in manufactures. 2010-04-27T06:41:35.347Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:836 Although Thailand has achieved a spectacular average annual growth rate of 8% in the past two decades, due largely to the opening of the economy to international trade, there is not yet a consensus on the exchange rate regime that is most suited to the restoration of sustained growth in Thailand. This study empirically investigates the predictors of exchange rate regimes in Thailand using quarterly data spanning the period 1990:1 and 2002:3. Results indicate that the government is likely to choose a pegged exchange rate regime in periods of monetary shocks and unsustainable public finance whereas an open economy with a degree of economic development and foreign reserves will encourage the government to opt for a flexible exchange regime in Thailand. 2010-04-27T06:22:50.261Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:835 Optimal intertemporal investment behaviour of Australian pastoralists is modelled using panel data for the period 1979–1993. Results indicate that quasi-fixity of inputs of labour, capital, sheep numbers and cattle numbers is characteristic of production in the pastoral region. It takes about two years for labour, four years for capital and a little over two years for both sheep numbers and cattle numbers to adjust towards long-run optimal levels. Results also indicate that, after accounting for adjustment costs, own-price product supply and input demand responses are inelastic in both the short and long run. 2010-04-27T06:22:44.221Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:838 South Africa is emerging as a major player in the world agricultural products market. This study investigates aggregate food demand patterns in South Africa using a LA/AIDS modelling framework. Data from 1993 integrated national household survey are employed in the analysis. Empirical results show that demand for meat and fish, grains, dairy products, fruits, vegetables and other foods are generally price elastic. The expenditure elasticities imply that meat and fish and grains are luxury products, while dairy products, fruits, vegetables and other foods are necessities in the household diet. The results also indicate that, if income of households increases food expenditure on meat and fish and grains would increase while that on dairy products, fruits, vegetables and other foods would decrease. Race, age, and gender of household head, urbanisation and family size affect food demand in South Africa. 2010-04-27T06:22:36.972Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:833 Purpose – This study seeks to examine empirically import demand for total pulses, chickpeas and lentils in India based on the concept of unit root and cointegration. Design/methodology/approach – The Stock-Watson dynamic OLS (DOLS) model – which is robust to small sample and eliminates simultaneity bias – is used to derive the long-run price, income and urbanisation elasticities of import demand. The data covers the period 1970-2000. Findings – Results indicate that real GDP, relative price and urbanisation are the key determinants of import demand for pulses in India. The estimated long-run elasticities of import demand with respect to income (relative price) are 0.4 (-1.7) for chickpeas, 0.56 (-0.87) for lentils and 0.36 (0.00) for total pulses. The estimated long-run elasticities of import demand with respect to urbanisation are 9.9 for chickpeas, zero for lentils and 7.2 for total pulses. The policy implications of the results are discussed. Originality/value – Provides evidence that the response of import demand for pulses to key determinants differ substantially from product to product. 2010-04-27T06:22:30.931Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:831 The purpose of this study is to investigate persistence in regional (state) hidden unemployment disparity in Australia. Quarterly time series data spanning the period 1978 through to 2003 were employed in the analyses. Empirical results indicate that cyclical sensitivity of hidden unemployment series is more pronounced in Tasmania and least pronounced in New South Wales. The hidden unemployment differentials appear to be more pronounced during periods following a recession than in a boom. Results also indicate that the levels of hidden unemployed were higher in the 1990s compared with the 1980s. Co-integration analyses indicate a lack of synchronicity of regional and national hidden unemployment series in Australia. 2010-04-27T06:22:26.088Z ]]> http://nova.newcastle.edu.au/vital/access/manager/Repository/uon:5960 In recent times, overseas workers from the Philippines have been sending remittances in excess of US$14 billion annually to their families back home. Although these remittances are important source of foreign exchange and play an important role in economic development of the Philippines, the determinants of migration in the country is not well established. This study empirically investigates the impact of economic, demographic, and political factors on the size of emigration from the Philippines. A simple migration model is specified and estimated using data spanning the period 1975 to 2005. The results indicate that income inequality, adult literacy, and the level of unemployment are the key determinants of emigration in the Philippines. The result also indicates that political stability impacts on emigration in the Philippines. The policy implications of the results are discussed. 2010-04-27T04:32:35.589Z ]]>