Despite many important advances since the “Bretton Woods” agreement, the state of Third World development remains extremely unsatisfactory. About a billion people live in extreme poverty and more than 800 million do not get adequate nutrition. Third World Debt looms large on the horizons of most underdeveloped nations and development continues to benefit the Third World elites, the developed nations, and their multinational corporations. The North-South divide continues to widen with very little “tricking down” to the poor majority in many nations. It is strongly believed that one-third of the world’s poor are getting poorer. The conventional approach to development theory and practice, focusing on economic growth, investment, trade and free markets continues to benefit developed nations. Even in nations where free trade and markets have spurred growth, the net results of globalization have not reached the majority. Globalization defined as the “economic, social, political and environmental integration of nations” creates some major imbalances in a world system increasingly based on liberal market economies. Ultimately, the IMF-WTO corporate globalization model has failed to deliver for developing countries, severely punishing those least capable of protecting themselves – the billions living on $ 400 million annually. Market access is only useful to countries at a stage of development that allows for their engagement in world markets, in a manner that promotes improved standards of living for their populations. The promise of market access is a distraction that has served to create a myth of prosperity. This research seeks to raise issues regarding the impact of globalization on North-South imbalances highlighting the crucial gaps in the globalization process. Initially, the research outlines the parameters and theories surrounding the globalization process and then progresses on to demonstrate the imbalances of the global system, highlighting the key areas of impact that adversely affect the development of Southern nations. Using India’s economic liberalization as a case in point, this thesis attempts to unveil the growing myth of prosperity that is being propagated in relation to the issues of globalization and the South. Finally, the thesis attempts to draw pertinent theoretical lessons that would contribute towards a better understanding of the effects of globalization on the South. / http://proxy.library.adelaide.edu.au/login?url= http://library.adelaide.edu.au/cgi-bin/Pwebrecon.cgi?BBID=1311650 / Thesis (Ph.D.) -- University of Adelaide, School of History and Politics, 2008

Following the trends of the Globalization, the principles of Nondiscrimination, Transparency and Rule of Law, are all becoming the core principles of globalized norms of economic regulation, which have always known to be associated with GATT and the World Trade Organization (WTO). Following the accession of the People's Republic of China to the WTO, it is well understood that the requirements for the conformity of laws and regulations inside and outside of China to WTO are high, especially in terms of the conformity of China's regulatory system of economic regulations to WTO's Principles of national treatment, transparency, and rule of law. This paper will examine the conformity of WTO's Principles of National Treatment, Transparency, and Rule of Law with China's regulatory system of economic regulation, especially with a focus on the compliance of globalized norms of economic regulation with China's local norms and local values, and the legal and political culture. At the same time, this paper aims to discover the institutional approaches that protect and facilitate judicial independence. Attention is also paid to the influences of the institutions system on impartiality and accountability of judicial practice through facilitating judicial independence.

Most financial institutions have not been successful at internationalisation, with some being remarkably unsuccessful. There are fewer occurrences of cross-border mergers and acquisitions than in most other industries. Foreign financial institutions tend to underperform relative to domestic financial institutions. Rugman and others have argued that their internationalisation primarily occurs at the regional rather than global level. Existing theories identify some barriers to firms? internationalisation, but these theories, were developed for manufacturing firms, and were rarely applied to financial services firms. This research seeks to identify barriers to financial institutions' internationalisation and contribute to the under-researched area of services internationalisation. To better understand the barriers to internationalisation, qualitative research techniques were used for an in-depth case-study analysis of one firm and its attempts at internationalisation, followed by detailed interviews of internationally experienced financial institutions executives from other firms. Finally, the apparent preference for regional over global expansion was investigated, through a quantitative analysis of over 12,000 cross-border, financial-services merger and acquisition transactions from 1990 to mid-2005. The research identified thirty-eight barriers to internationalisation, consistent with Rugman's findings on regional expansion, but also with the effects of similarity variables such as language, culture and legal system. The quantitative analysis tested these effects and found that the region effect was high, and was stronger than language and cultural effects individually, but about the same as their combined effect. The legal system similarity is not statistically significant when all effects are combined. This research contributes to this under-researched field. Given that internationalisation supports economic growth in the host and home countries, an improved understanding of these barriers may assist policy makers and enable managers to make better international investment decisions. The findings on the effect of geography versus other factors, such as language and culture, may inform managers' choice of target countries.

Despite many important advances since the “Bretton Woods” agreement, the state of Third World development remains extremely unsatisfactory. About a billion people live in extreme poverty and more than 800 million do not get adequate nutrition. Third World Debt looms large on the horizons of most underdeveloped nations and development continues to benefit the Third World elites, the developed nations, and their multinational corporations. The North-South divide continues to widen with very little “tricking down” to the poor majority in many nations. It is strongly believed that one-third of the world’s poor are getting poorer. The conventional approach to development theory and practice, focusing on economic growth, investment, trade and free markets continues to benefit developed nations. Even in nations where free trade and markets have spurred growth, the net results of globalization have not reached the majority. Globalization defined as the “economic, social, political and environmental integration of nations” creates some major imbalances in a world system increasingly based on liberal market economies. Ultimately, the IMF-WTO corporate globalization model has failed to deliver for developing countries, severely punishing those least capable of protecting themselves – the billions living on $ 400 million annually. Market access is only useful to countries at a stage of development that allows for their engagement in world markets, in a manner that promotes improved standards of living for their populations. The promise of market access is a distraction that has served to create a myth of prosperity. This research seeks to raise issues regarding the impact of globalization on North-South imbalances highlighting the crucial gaps in the globalization process. Initially, the research outlines the parameters and theories surrounding the globalization process and then progresses on to demonstrate the imbalances of the global system, highlighting the key areas of impact that adversely affect the development of Southern nations. Using India’s economic liberalization as a case in point, this thesis attempts to unveil the growing myth of prosperity that is being propagated in relation to the issues of globalization and the South. Finally, the thesis attempts to draw pertinent theoretical lessons that would contribute towards a better understanding of the effects of globalization on the South. / http://proxy.library.adelaide.edu.au/login?url= http://library.adelaide.edu.au/cgi-bin/Pwebrecon.cgi?BBID=1311650 / Thesis (Ph.D.) -- University of Adelaide, School of History and Politics, 2008

The international linkages of stock markets have important implications for cost of capital and portfolio diversification. Recent trends in globalization, financial liberalization and financial innovation raises questions with regard to whether African stock markets are being integrated into world equity markets. This study examines the extent to which the South African (SA) equity market is integrated into the world equity markets using daily data for the period 1995-2007. The study is divided into three main parts, each looking at the different ways in which integration can be considered. The first investigates whether there is long run comovement between the SA and the major global equity markets. Both bivariate and multivariate Johansen (1988) and Johansen and Juselius (1990) cointegration approaches were utilised. Vector Error Correction Models (VECMs) are then estimated for portfolios which show evidence of cointegration. The second part analyses returns linkages using the Vector Autoregressive (VAR), block exogeneity, impulse response and variance decomposition. The third part examines the behaviour of volatility and volatility linkages among the stock markets. Firstly volatility is analysed using the GARCH, EGARCH and GJR GARCH. Simultaneously, the hypothesis that investors receive a premium for investing in more risky stock markets is explored using the GARCH-in mean. The long term trend of volatility is also examined. Volatility linkages are then analysed using the VAR, block exogeneity, impulse response and variance decomposition. The first part established that no bivariate cointegration exists between the SA and any of the stock markets being studied, implying that pairwise portfolio diversification is potentially worthwhile for SA portfolio managers. However, multivariate cointegration exists for some portfolios, with the US, UK, Germany and SA showing evidence of error correction for some of these portfolios. Findings on return linkages is that there are significant returns linkages among the markets, with the US and SA being the most exogenous and most endogenous respectively. Findings regarding volatility are that the volatility in all the markets is inherently asymmetric and that except for the US there is no risk premium in any of the markets. The long term trend of volatility in all the stock markets was found to be relatively stable. The final finding was that significant volatility linkages exist among the markets, with the US being the most exogenous and SA and China showing evidence of bidirectional linkages. Overall, except for volatility linkages, the integration of SA into the global equity markets is still quite low. Thus, both SA and international investors can capitalise on this portfolio diversification potential. On the other hand, policy makers should capitalise on this and make policies that will attract the much needed foreign investors.

The identification of financial stress, and an understanding of financial contagion on a global scale, is of critical importance to a South African economy that is becoming increasingly integrated into the global economy. The last decade has been characterised by periods of high economic growth, but also periods of significant financial instability culminating in global economic crises. This study examines the extent to which the South African financial system is exposed to distress abroad by identifying and measuring the co-movement of financial stress originating from within and outside South Africa. The study can be separated into two sections: the identification of financial stress and the measurement of financial contagion. Using monthly data for the period 2000 to 2012, three indices were constructed for the emerging markets, advanced economies and South Africa using varianceequal weighting. The indices were tested for contagion using the Johansen and Jesulius (1990) multivariate cointegration approach supplemented with basic OLS architecture and Impulse Response analysis. The results indicate the three constructed indices were highly accurate at identifying the intensity and timing of financial stress over the three regions respectively. It was found that the South African financial sector is highly susceptible to financial stress originating from advanced economies. The results obtained for financial stress emanating from emerging markets were not as conclusive and found to be insignificant. Overall, it is clear that the methods employed to identify financial stress are highly accurate and that South Africa is highly susceptible to financial stress originating from abroad. It is clear that advanced economies have a greater ability to affect financial stress in South Africa via contagion. It must be noted that this does not conclude that South Africa is not affected by emerging market crises, but that these crises tend to affect South Africa through advanced economy channels as defined within this thesis.

Following the trends of the Globalization, the principles of Nondiscrimination, Transparency and Rule of Law, are all becoming the core principles of globalized norms of economic regulation, which have always known to be associated with GATT and the World Trade Organization (WTO). Following the accession of the People's Republic of China to the WTO, it is well understood that the requirements for the conformity of laws and regulations inside and outside of China to WTO are high, especially in terms of the conformity of China's regulatory system of economic regulations to WTO's Principles of national treatment, transparency, and rule of law. This paper will examine the conformity of WTO's Principles of National Treatment, Transparency, and Rule of Law with China's regulatory system of economic regulation, especially with a focus on the compliance of globalized norms of economic regulation with China's local norms and local values, and the legal and political culture. At the same time, this paper aims to discover the institutional approaches that protect and facilitate judicial independence. Attention is also paid to the influences of the institutions system on impartiality and accountability of judicial practice through facilitating judicial independence. / Law, Peter A. Allard School of / Graduate

The need for public participation in the development of policies, programmes or actions has been widely accepted by both government and private sectors because of the benefits of such involvement. Involving the public in the development of any policy, programme or action is, however, a daunting task. Public involvement in the development of a policy or action often leads to protest, legal litigation, criticism and delay in carrying out the project. The main objectives of this research are to examine the process of public participation in the Gautrain project and to interrogate how public involvement in the decision-making processes of environmental concerns can be improved. A quantitative study was conducted to describe and explore the process of public participation in the Gautrain environmental impact assessment procedure. The purposive sampling method was used. Thereafter, the data generated was analysed using statistical tools such as charts, tables and the Wilcoxon Mann Whitney U test to examine the similarities and differences in the response patterns of the public and the project proponent. Cronbach alpha statistical methodology was also used to test the reliability of the measurement. The findings are discussed in relation to the objectives of the study and research hypotheses. The results indicate that (1) the public were not involved early enough during the project planning and design phases; (2) adequate information was not provided to the public; and (3) public input does not have much impact on decisionmaking processes. The study does, however, indicate that the process has enhanced the participants’ learning and that the process of participation has improved in recent time as compared to the 2002-2003 periods. The study concludes by providing relevant solutions and recommendations. / Environmental Sciences / M. Sc. (Environmental Management)

The purpose of this study was to investigate internationalisation of Ethiopian SMEs by examining internal and external factors that motivate or restrict internationalization process and the impact of internal and external barriers on SMEs export performance. The small and medium sized enterprises (SMEs) sector in Ethiopia is a significant group within the economy in terms of firm numbers and total employment. However, the SMEs sector’s share of exports is disproportionately small, which raised considerable research concerns. Firm export propensity and export performance were the dependent variables and export stimuli and barrier factors were used as explanatory variables. The study was conducted through mixed research design. A questionnaire was administered to 90(36 exporting and 54 nonexporting) SMEs in Leather and Leather Products Industry in Addis Ababa selected through stratified random sampling. In order to complement survey results nine (4 exporting and 5 non-exporting) SMEs were selected through critical case purposive sampling and an in-depth interviews were conducted. Statistical package for the social sciences (SPSS 20) was used to analyse the quantitative data whereas, qualitative data were analysed manually. Analytical techniques used were, Chisquare test of independence, Spearman rank order correlation, factor analysis, binary logistic regression analysis and multiple regression analysis. The statistical results of binary logistic regression analysis and chi-square tests indicated that managerial factors, internal marketing factors and foreign government related factors, firm ownership and size are the most significant motivators of SMEs internationalisation in Ethiopia. On the contrary the result showed that, logistics problem, insufficient finance, functional barriers, lack of export knowledge and information, procedural barriers and international trade barriers are the factors hindering it. Further analysis was conducted to examine the impact of export barriers on performance of firms. The result of multiple regression analysis indicated that, export barriers significantly and negatively affect export performance. The overall results revealed that explanatory variables used in the analysis significantly predict the dependent variable at 95% confidence level. Considering these results numerous implications for theory, practice, and future research were recommended. Finally, the study concluded that internationalisation of SMEs has to be encouraged by mitigating both internal and external barriers identified in this study. / Business Management / D. Admin. (Business Management)

Thesis (MA)--University of Stellenbosch, 2004. / ENGLISH ABSTRACT: The corporation is fast becoming, or may already have become, the prevalent structure in human society. As such, its successes and failures impact heavily on society as a whole. This study will endeavour to examine past shortfalls in corporate thinking and practice, explaining much of this by referring to lag between societal and corporate change in their respective responses to globalisation. It is furthermore argued that this change is still far from complete( d), if indeed it ever will be complete( d) with a fixed end. This global change, has to a large extent, caught corporations off guard, with their old management styles no longer providing results - with civil resistance to corporate activity resulting in some instances. The central aim of this study is to not only understand this situation, but also to explore potential remedies. In so doing two unique ideal states, namely the old and the new company, will be developed. With the old company representing corporate structure and thinking that no longer functions effectively. The new company, on the other hand, is not a present state but a future one. Thus it is the destination of the societal and corporate changes examined within this thesis. Consequently, the main subject examined will be a move away from the old company. Finally, it will be shown that dealing with problems within the corporate context no longer requires the heavy hand of yesteryear. Instead, a proactive approach should be adopted, both for financial and ethical reasons. / AFRIKAANSE OPSOMMING: Dit kan geargumenteer word dat korporasies binnekort die dominante struktuur in menslike organisasie kan wees, indien dit nie reeds die geval is nie. As sulks, het die suksesse en mislukkings van die korporasie 'n merkbare impak op die menslike samelewing. Gevolglik beoog hierdie studie om voormalige tekortkominge in korporatiewe denke en praktyk te ondersoek en te verduidelik, grotendeels met verwysing na die verskil in tempo waarmee beide die samelewing en korporasies reageer op die nuwe uitdagings wat gepaardgaan met globalisering. Dit word verder geargumenteer, dat hierdie proses van verandering geen voorspelbare einde het in die klassieke sin nie. Juis daarom het die voortdurende verandering oudmodiese bestuurstyle en tegnieke onkant betrap, met nagevolge wat strek tot by burgerlike verset. Sentraal aan die ondersoek van hierdie situasie is nie net die intensie om dit te verstaan nie, maar ook die soeke na strategieë om dit reg te stel. Om die onderneming te fasiliteer word twee ideaal state, naamlik die ou en die nuwe maatskappy ontwikkel. Die ou maatskappy verteenwoordig uitgediende strategieë en bestuurspraktyke, terwyl die nuwe maatskappy 'n toekomstige staat is en dus nog nie gerealiseer is nie. Die fokus is dus op die beweging van die ou na die nuwe maatskappy. Laastens sal dit ook aangetoon word dat uiters outoritêre bestuurstyle en strategieë nie meer van pas, of suksesvol is in die hantering van korporatiewe probleme nie. Alternatiewelik word 'n proaktiewe benadering, op beide etiese en finansiële gronde, aanbeveel.