Traditional Wealth Research Articles

“Delivering” on the MDGs?: Equity and maternal health in Ghana, Ethiopia and Kenya

The Millennium Development Goals (MIDGs) have put maternal health in the mainstream, but there is a need to go beyond the MDGs to address equity within countries. We argue that MDG focus on maternal health is necessary but not sufficient. This paper uses Demographic and Health Survey (DHS) data from Kenya, Ethiopia and Ghana to examine a set of maternal health indicators stratified along five different dimensions. The study highlights the interactive and multiple forms of disadvantage and demonstrates that equity monitoring for the MDGs is possible, even given current data limitations. We analyse DHS data from Ghana, Kenya and Ethiopia on four indicators: skilled birth attendant, contraceptive prevalence rate, AIDS knowledge and access to a health facility. We define six social strata along five different dimensions: poverty status, education, region, ethnicity and the more traditional wealth quintile. Data are stratified singly (e.g. by region) and then stratified simultaneously (e.g. by region and by education) in order to examine the compounded effect of dual forms of vulnerability. Almost all disparities were found to be significant, although the stratifier with the strongest effect on health outcomes varied by indicator and by country. In some cases, urban-dwelling is a more significant advantage than wealth and in others, educational status trumps poverty status. The nuances of this analysis are important for policymaking processes aimed at reaching the MDGs and incorporating maternal health in national development plans. The article highlights the following key points about inequities and maternal health: 1) measuring and monitoring inequity in access to maternal health is possible even in low resource settings-using current data 2) statistically significant health gaps exist not just between rich and poor, but across other population groups as well, and multiple forms of disadvantage confer greater risk and 3) policies must be aligned with reducing health gaps in access to key maternal health services.

Wealth Management Strategies in the Era of E-Commerce

This paper looks at the key strategies being applied by wealth management and their competitive position. Each approach has merits, although the multi-channel 'single brand' approach seems to be gathering momentum. E-commerce facilitates differentiation and requires focus, whilst making cost leadership more difficult Choices between being a traditional or extended wealth manager, or simply a wealth product provider, are increasingly being made. Moreover need for strategic choice in the wealth management market is presented, before looking in more detail at the wealth management strategies commonly adopted. The relative success of each is considered, together with the competitive advantages to be gained.

Social Security, Intergenerational Transfers, and Saving: New Evidence from an Emerging Country

Because of the several shortcomings of aggregate time-series investigations, cross-section studies outnumber the time-series analyses on the relationship between saving and Social Security. This study is the first of its kind for an emerging country that examines the subject at two major points: (1) by using aggregate social security wealth simulations, it formally shows that the PAYG system in Turkey constitutes significant wealth redistributions of resources among different age cohorts; (2) instead of applying traditional wealth functions to observe whether social security wealth displaces non-pension wealth in cross-section setting, it investigates whether or not households' consumption behavior exhibits a life-cycle pattern by using the Household Labor Force Survey conducted in 2002 for more than eight thousand households. The results confirm that marginal propensity to consume (MPC) out of total resources is significantly different for different age cohorts. Because of its strong Ponzi scheme structure and the fact that it involves resource transfers between different age cohorts we conclude that the Turkish PAYG system may suppress the national saving in Turkey.

Dentists and Managers: Private Investor Profiles

This paper investigates whether, as their cliched image suggests, dentists are special investors. We compare them to managers. The results show that there are indeed systematic differences between these two groups in perceived competence, desire to be informed, investment criteria, investment strategies, reliance on investment advisers, and risk aversion. Within each group, there are also differences between men and women, although not in risk aversion. We contrast these results with those obtained when investors are grouped according to the more traditional wealth and age categories. Investors in those categories differ as well, but by no means more substantially than when we separate them into dentists and managers.

The Sustainable Company

Review: The Sustainable Company By Chris Laszlo Reviewed by Jane Andrew The University of Wollongong, NSW, Australia Chris Laszlo. The Sustainable Company: How to Create Value Through Social and Environmental Performance. Washington DC: Island Press, 2003. 215 pp. ISBN 1-55963-836-2. US$26.00. Recycled, acid free paper. If you do not have a problem with the assumptions that underpin capitalism, then this book suggests a relatively uncomplicated bridge between the traditional shareholder wealth maximizing principles of corporate management and the emerging stakeholder calls for greater corporate responsibility. Laszlo provides logical and compelling reasons for corporate sustainability and he also offers a clear approach to transforming the orientation of a company to meet broader social and environmental objectives. The book is divided into three sections: the first is an argument for sustainable value; the second provides case studies to locate Laszlo's theoretical developments; and the third describes a toolkit for managers in order to implement sustainable strategies. Overall, Laszlo attempts to show that corporate sustainability can be manifested and sustained via the convergence of economic and ethical logics. Although I am suspicious of environmental business literature that does not question the assumptions that underpin capitalism and its inefficient, inequitable, and environmentally hazardous effect on resource distribution, this book has a lot to offer. In particular, Laszlo does manage to highlight a multi-layered approach to sustainability, recognizing the scientific, regulatory, political, moral, and market interactions that are demanding more sustainable businesses. He is successful in avoiding the uni- dimensional cost-benefit approach that has been adopted in many business arguments for improved corporate sustainability. His work is also clear and logical, making it an excellent resource for graduate and undergraduate subjects. Perhaps the case studies Laszlo presents in his work could have been more probing, and more cases would have added to his argument (but all researchers know the difficulty of access to this type of data, so overall Laszlo has done remarkably well). However, these are well written and would provide great material for any business subject. The beauty of these cases lies in the fact that even the most staunch profit-oriented business student would find these stories compelling and provocative. The concept of a sustainable corporation within a pseudo-capitalist society, to my mind, needs some attention and unfortunately I remain unconvinced

ZUR PÄDAGOGISCHEN BEDEUTUNG VON NATUR

No AccessZUR PÄDAGOGISCHEN BEDEUTUNG VON NATURHarm PaschenHarm PaschenSearch for more papers by this authorPublished Online:Jan 2019https://doi.org/10.7788/bue.2002.55.3.301SectionsPDF/EPUB ToolsAdd to favoritesDownload CitationsTrack Citations ShareShare onFacebookTwitterLinkedInRedditEmail About Previous article Next article FiguresReferencesRelatedDetails Download book coverVolume 55Issue 3September 2002 ISSN: eISSN: HistoryPublished online:January 2019 PDF download

Nurses as advocates between western and traditional wealth practices in RSA

The RSA, like most African countries, have two health care systems. The most visible one is the Westernised hospital and/or clinic based treatment of diseases. This system was introduced by the colonisers and perpetuated by the current formal education programmes of most health care professionals in the RSA. Traditional African medicine has existed since time immemorial and continues to treat vast numbers of people. Both these health care systems will be briefly discussed. Then the role of nurses in the RSA's health care system(s) will be examined.
 
 *Please note: This is a reduced version of the abstract. Please refer to PDF for full text.

Consumer Sentiment and the Stock Market

This paper examines the relationship between movements in consumer sentiment and stock prices. At the aggregate level, the two share a strong contemporaneous relationship: an increase in equity values boosts sentiment. However, I examined the nature of the relationship between the two. Does an increase in stock prices raise aggregate sentiment because people are wealthier or because they use movements in stock prices as an indicator of future economic activity and potential labor income growth? Using individual observations from the Michigan survey I found results more consistent with the view that people use movements in equity prices as a leading indicator. Although the findings do not rule out a traditional wealth effect, they do raise some questions about the causal role of wealth in aggregate spending.

Consumer Sentiment and the Stock Market

This paper examines the relationship between movements in consumer sentiment and stock prices. At the aggregate level, the two share a strong contemporaneous relationship: an increase in equity values boosts sentiment. However, I examined the nature of the relationship between the two. Does an increase in stock prices raise aggregate sentiment because people are wealthier or because they use movements in stock prices as an indicator of future economic activity and potential labor income growth? Using individual observations from the Michigan survey I found results more consistent with the view that people use movements in equity prices as a leading indicator. Although the findings do not rule out a traditional wealth effect, they do raise some questions about the causal role of wealth in aggregate spending.

Bank lending and economic activity in Japan: did ‘financial factors’ contribute to the recent downturn?

In this paper, we examine the role of \financial in Japan and attempt to gauge their recent impact on the Japanese economy. First, we find that proxies for financial factors enter significantly in behavioral equations for loan standards, loan demand and aggregate demand, although these proxies explain only a small amount of the variation in those variables. Second, there is some, albeit inconclusive, evidence that balance-sheet problems of households and firms contributed to Japan's recent recession. We find that exogenous declines in equity prices contributed significantly to the decline in loans and economic activity, although part of this influence appears to be operating through traditional wealth effects. In addition, loan demand shocks, which could reflect balance-sheet problems not captured by our model, account for much of the remainder of the shortfall in loans and some of the shortfall in economic activity. Finally, we also find some evidence that an exogenous contraction in loan supply, a \credit crunch, may have lowered output by a small degree, but only in the early phases of the recession.

Has Japan entered a new era of financial constraints?

AbstractThe collapse of Japanese asset prices in the early 1990s‐which weakened the balance‐sheet positions of banks, firms, and households‐has led some observers to suggest that “balance‐sheet problems” may have contributed to the recent economic downturn and may impede a recovery. In this article, we conclude that balance‐sheet problems did not and will not play a significant role in depressing the Japanese economy. First, while asset prices appear to have some explanatory power in loan demand and supply relationships, we find that asset price shocks in the 1990s had little effect on borrowing and lending, other than through traditional wealth effects on aggregate demand. Second, we find little evidence that bank lending was tighter than usual compared to downturns of the 1990–1993 magnitude. Finally, we find some puzzling evidence that borrowers lowered their appetite for loans, even after accounting for sharp declines in aggregate demand and asset prices.

Bank Lending and Economic Activity in Japan: Did "Financial Factors" Contribute to the Recent Downturn?

In this paper, we examine the role of "financial factors" in Japan and attempt to gauge their recent impact on the Japanese economy. First, we find that proxies for financial factors enter significantly in behavioral equations for loan standards, loan demand and aggregate demand, although these proxies explain only a small amount of the variation in those variables. Second, there is some, albeit inconclusive, evidence that balance-sheet problems of households and firms contributed to Japan's recent recession. We find that exogenous declines in equity prices contributed significantly to the decline in loans and economic activity, although part of this influence appears to be operating through traditional wealth effects. In addition, loan demand shocks, which could reflect balance-sheet problems not captured by our model, account for much of the remainder of the shortfall in loans and some of the shortfall in economic activity. Finally, we also find some evidence that an exogenous contraction in loan supply, a "credit crunch," may have lowered output by a small degree, but only in the early phases of the recession.

Bank lending and economic activity in Japan: did ‘financial factors’ contribute to the recent downturn?

In this paper, we examine the role of ‘financial factors’ in Japan and attempt to gauge their recent impact on the Japanese economy. First, we find that proxies for financial factors enter significantly in behavioural equations for loan standards, loan demand, and aggregate demand. Second, we find strong evidence that financial factors contributed to Japan's recent recession. On the loan supply side, exogenous declines in equity prices appear to have led to a sharp increase in bank loan standards and a substantial subsequent decline in loans and economic activity. We also find some evidence that an exogenous contraction in loan supply may have lowered output by a small degree, but only in the early phases of the recession. On the loan demand side, asset price declines also led firms and households to sharply reduce their demand for bank loans and goods, although it is unclear how much this influence may reflect traditional wealth effects. In addition, loan demand shocks, which could reflect balance-sheet problems not captured by our model, account for much of the remainder of the shortfall in loans. © 1998 John Wiley & Sons, Ltd.

Debt illusion and imperfect information

The output and employment effects of bond finance depend critically on the assumption that government bonds are regarded by the public as net wealth. This paper analyzes the possibility that debt illusion can exist because of uncertainty about the economic opportunities: there is a learning problem. In some cases, traditional wealth effects can be rationalized in terms of rational short run learning behavior. In other cases, the same general considerations may lead to responses that are opposite to those usually assumed. And policies that have short run effects in the direction conventionally assumd may, in the long rung, reverse their direction of impact, thus giving rise to critical timing problems.

Art and the Commune in the Time of Dante

Previous articleNext article No AccessArt and the Commune in the Time of DanteHelene WieruszowskiHelene Wieruszowski Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by Speculum Volume 19, Number 1Jan., 1944 The journal of the Medieval Academy of America Article DOIhttps://doi.org/10.2307/2856851 Views: 22Total views on this site Copyright 1944 The Mediaeval Academy of AmericaPDF download Crossref reports the following articles citing this article:Gjalt de Graaf, Hanneke van Asperen The art of good governance: how images from the past provide inspiration for modern practice, International Review of Administrative Sciences 84, no.22 (Jul 2016): 405–420.https://doi.org/10.1177/0020852316630392Gjalt de Graaf, Hanneke van Asperen L’art de la bonne gouvernance : quand les représentations du passé inspirent la pratique moderne, Revue Internationale des Sciences Administratives 84, no.22 (Jan 2018): 419.https://doi.org/10.3917/risa.842.0419 3. Allegorische Ikonotexte als Reflexionsfiguren der pictura, (Jul 2018): 161–214.https://doi.org/10.7788/9783412506971-005Phil Carney Foucault’s Punitive Society: Visual Tactics of Marking as a History of the Present: Fig. 1, British Journal of Criminology 55, no.22 (Jan 2015): 231–247.https://doi.org/10.1093/bjc/azu105Marvin B. Becker Changing Patterns of Violence and Justice In Fourteenth- and Fifteenth-Century Florence, Comparative Studies in Society and History 18, no.33 (Jun 2009): 281–296.https://doi.org/10.1017/S0010417500008288JOHN LARNER THE ARTIST AND THE INTELLECTUALS IN FOURTEENTH CENTURY ITALY, History 54, no.180180 (Feb 1969): 13–30.https://doi.org/10.1111/j.1468-229X.1969.tb01235.xCarl C. Christensen Municipal Patronage and the Crisis of the Arts in Reformation Nuernberg, Church History 36, no.22 (Jul 2009): 140–150.https://doi.org/10.2307/3162451 George Sarton , and Frances Siegel Sixty-Sixth Critical Bibliography of the History and Philosophy of Science and of the History of Civilization (To July 1944), Isis 35, no.33 (Oct 2015): 221–278.https://doi.org/10.1086/358718

Three Sculptured Stelai in the Possession of Lord Newton at Lyme Park

The recent Exhibition of works of Greek art held at the Burlington Fine Arts Club—although necessarily limited to comparatively small objects—has been sufficient to prove that the traditional wealth of our English collections of classical antiquities still remains a fact. The Exhibition, moreover, has had its use in eliciting information as to works of art on a larger scale, hitherto unknown and unrecorded, that had escaped the vigilance of Waagen and of Conze, of Michaelis and of Furtwängler, and even of our English archaeologists. Thus it was that when the Exhibition was little more than planned I learnt from the well known sculptor, Countess Feodora Gleichen, that there existed at Lyme Park, Lord Newton's Cheshire seat, three fine sculptured Stelai from the best period of Attic art. I am grateful to the owner for granting me permission to publish these inedited works in this Journal, which ought indeed to be the official gazette of the English collections. I have unfortunately been unable to avail myself as yet of Lord Newton's further permission to study the originals. But as photographs of the Stelai are now extant, I have thought it wiser not to postpone the publication for fear that it might be anticipated elsewhere. The information kindly given me by Lord Newton himself has facilitated the discussion and interpretation of the Stelai which, for the rest, are perfectly straightforward examples of their class.