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Catholic mission schools in South Africa have resisted the clamping influence of the Apartheid state for many years, especially after the introduction in 1953 of the Bantu Education Act. They refused to hand over their schools to the authorities, as many
These essays offer insights into the structure and functioning of different types of market structures and the character of technical change. They also address 1990s topics such as East Asian economics and the EMU. Finally, they pay tribute to Arnold Heertje's work.
Based on the results of these studies, recommendations for further research and implications for advertising practice are formulated.
International financial transactions have become less regulated and less costly over the past two decades. This study, consisting of two parts, examines several issues related to this increase in international capital mobility. The first part is devoted to the estimation of the correlation of saving and investment, which should be zero under capital mobility, according to Feldstein and Horioka. Questions, addressed are: What are the implications of the intertemporal budget constraint? Should time series analysis or cross-section analysis be used? The second part of the study focuses on the mean-variance portfolio model, which is an important benchmark model in financial economics but is strongly rejected in empirical tests. Here questions include: Can capital controls explain why the mean-variance model performs so badly? What is the role of adjustment costs?
There is vigorous debate both among economists and policy makers about the desirability and effects of national strategic trade and industrial policies. What are the effects of such policies in a world in which a considerable share of trade and economic activity is accounted for by multinational enterprises? This book provides some original answers by applying theoretical analysis in industrial economics to the trade and investment behaviour of Japanese electronics firms. It examines how these Japanese firms responded to antidumping measures and local content requirements in the European Community. It looks at the determinants of Japanese direct foreign investment and its effects on trade flows as well as at the role of Japanese industrial groups (keiretsu). The study is completed by analysis of two important new issues in international trade: the strategic effects of anti-trust policy in global markets and cascading protection from upstream to downstream industries.