African bond markets have been steadily growing in recent years, but nonetheless remain undeveloped. African countries would benefit from greater access to financing and deeper financial markets. This paper compiles a unique set of data on corporate bond markets in Africa. It then applies an econometric model to analyze the key determinants of African government securities market and corporate bond market capitalization. Government securities market capitalization is directly related to better institutions and interest rate volatility, and inversely related to the fiscal balance, higher interest rate spreads, exchange rate volatility, and current and capital account openness. Corporate bond market capitalization is directly linked to economic size, the level of development of the economy and financial markets, better institutions, and interest rate volatility, and inversely related to higher interest rate spreads and current account openness. Policy implications follow.
In many parts of the world public enterprise is in crisis. Privatisation programmes are being widely touted as the solution to many of the problems of inefficiency and slow rates of growth associated with public enterprise. This book discusses the underlying causes of those problems, and critically examines some of the solutions that have been adopted. Its geographical coverage is wide and it cuts across the political spectrum. The experiences of countries in four continents are analysed in an attempt to shed light on current dilemmas. Recurrent patterns are found; problems are frequently seen to be political as much as economic, and bureaucracy and administrative confusion is often found to be at the heart of poor financial performance.Yet since political aims, economic environment, and administrative and managerial capabilities vary so widely, universal solutions remain more difficult to define than universal problems.
Modern economics has, at its foundation, scholarly contributions from many prominent Scottish thinkers. This revealing work examines the roots of this great tradition, places in perspective a selection of authors, and assesses their contribution over three centuries in the light of a distinctive Scottish approach to economics.Scottish Enlightenment is an established area of research interest, and this volume offers new scholarship on key Enlightenment figures whilst placing emphasis on their approach to economic thought. Smith and Hume are key, but other less familiar, yet important authors are also investigated here, including a murderer, a revolutionary, a medical practitioner and a novelist (John Law, Sir James Stuart, John Rae and Shield Nicholson, respectively).The latest in a prestigious series charting national traditions in the history of economic thought, this important book, an essential read for scholars of economic thought, features contributions from such major historians of economic thought as Andrew Skinner and Antoin Murphy.
As founder and past president of the American Academy of Child and Adolescent Psychiatry and president of the American Association of Childrens Residential Centers, Joseph Noshpitz was at the forefront of psychodynamic treatment and research with children and adolescents for more than forty years. He was the editor-in-chief of the six volume Handbook of Child Psychiatry, co-author of the two volume Pathways of Growth: Essentials of Child Psychiatry, and co-editor of Stressors and the Adjustment Disorders. His breadth of knowledge and wisdom ranged well beyond the traditional areas of diagnosis and therapeutic interventions, envisioning the child as an individual within the family and the wider culture. Based on psychoanalytic ideas and without jargon, Noshpitzs innovative ideas are grounded in the developmental theories of Freud, Mahler, and Kernberg.These previously unpublished papers demonstrate Noshpitzs scope and the depth to which he conceived the psychic life of the child. Each paper is introduced by experts who contemporize and contextualize the work for the modern reader. The wide-ranging papers include ethics in child development, narcissism in the grade school years, tomboyism, idealization, negative ego ideals, and self-destructiveness in adolescence. More applied papers delve into the formative appeal of literature for adolescent girls, the developmental lessons of the Ninja Turtles, and the creative early motivations behind art, music, dance, mime, and poetry. The papers present an unyielding advocacy for the progressive development of the child interacting with the society at large, most evidenced in the extraordinarily far-reaching proposal for wider preventive family interventions.As poignant now as the time when they were written, Noshpitzs thoughtful commentaries and analyses repeatedly demonstrate his intrinsic curiosity, joy of learning, generosity and sensitivity to the myriad struggles of youth. His psychodynamic sensibility is a contrast to this era of quick psychopharmalogical fixes, cognitive-behavioral approaches, and managed care.To learn more about the life and work of Joseph Noshpitz, and to access more of his unpublished work, please visit http: //josephnoshpitz.com.
In this poignant and inspiring memoir, a beloved high school English teacher with terminal brain cancer undertakes a cross-country journey to reunite with his former students in order to find out if he made a difference in their lives, discovering along the way what is truly important in life.At thirty-four years old, David Menasche was diagnosed with brain cancer. Six years later and fifteen years after he began teaching, Menasche suffered a catastrophic seizure that began to steal his vision, memories, mobility, and perhaps most tragically of all—his ability to continue teaching.But teaching is something David Menasche can’t quit. Undaunted by the difficult road ahead of him, he decided to end his treatments and make life his classroom. Cancer had taken his past and would certainly, at some point, take his future, but he wouldnt allow it to take his present. He put out a call on Facebook and within hours of posting his plan to travel the country, former students now living in more than fifty cities replied with offers to help and couches to sleep on. The lasting lessons he collected on his journey make up The Priority List.Based on one of Menasche’s favorite lessons, The Priority List is a remarkable book of insights that explores many of life’s biggest themes, such as love, wealth, family, ambition, and friends, and asks us all to consider what really matters.
This text highlights the role that renewable energy can play in achieving sustainable development. It focuses on rural areas of developing countries, looking in particular at stand-alone solar home systems and grid-connected biomass cogeneration plants. It analyzes the main barriers to the successful transfer of renewable energy technology, with case studies from a range of South-East Asian, South Asian, Pacific and African countries, and explains the ways in which these obstacles can be overcome. The roles of the key players involved and how the Kyoto Protocol can facilitate the transfer in order to mitigate climate change are also discussed.
Ework and Ebusiness in Architecture, Engineering and Construction: Proceedings of the 5th European Conference on Product and Process Modelling in the Building and Construction Industry - Ecppm 2004, 8-10 September 2004, Istanbul, Turkey
Biannually since 1994, the European Conference on Product and Process Modelling in the Building and Construction Industry has provided a review of research, given valuable future work outlooks, and provided a communication platform for future co-operative research and development at both European and global levels. This volume, of special interest to researchers, developers and end-users in product and process modelling and construction informatics, contains the proceedings of the 5th ECPPM conference, held in September 2004. It provides a comprehensive overview of European research, as well as an insight in US, Canadian and Australian research. It also highlights perspectives of ambient intelligence and recent industry developments, and in addition, presents the latest developments in e-work and e-business, virtual enterprising, and collaborative work, as well as related best-practice industry examples.
This is an important book that deserves to be read by everyone concerned with presenting major environmental issues. Geography ... an essential text for policy makers and aid professionals, as well as for students of environmental studies and international development ... It is indeed, a book appropriate to the urgent and critical issues which it addresses. - Journal of Environmental Management
Maandag. Kyoto Purwanti, een alleenstaande moeder, wordt na haar werkdag opgebeld door de klassenleraar van haar dochter. Sharee is de hele dag niet op school geweest. Verontrustend wordt het als Kyoto de ouders van Sharees hartsvriendin Lisa De Backere opbelt. Niemand van de familie De Backere heeft Sharee het afgelopen weekend gezien of gehoord. De zorgwekkende verdwijning wordt een regelrechte nachtmerrie als de ervaren speurders van Cel 5 de rugzak van Sharee vinden op een plaats waar ze helemaal niet hoefde te zijn. Sharees moeder is gebroken. Maar spreekt zij wel de waarheid? En wie is de vader van het meisje? Genadeloos is het verbijsterende relaas van een hopeloze zoektocht, waarbij elk laagje aarde dat wordt weggeschraapt meer smeerlapperij aan de oppervlakte brengt. Tot en met de wortels van het ultieme kwaad.
In the wake of the disastrous Crimean War, the Russian autocracy completely renovated its most basic social, political and economic systems by emancipating some 23 million privately-owned serfs. This had enormous consequences for all aspects of Russian life, and profound effects on the course of Russian history. This book examines the emancipation of the serfs, focusing on the mechanisms used to enact the reforms and the implications for Russian politics and society in the long term. Because the autocracy lacked the necessary resources for the reform, it created new institutions with real powers and autonomy, particularly the mirovoi posrednik, or peace arbitrator. The results of this strategy differed in practice from the authorities original intentions. The new institutions invigorated Russian political life, introduced norms that challenged centuries-old customs and traditions, and fostered a nascent civil society, allowing Russia to follow the basic trajectory of Western European socio-political development.