WHAT IS HAPPENING TO THE IMPACT OF FINANCIAL DEEPENING ON ECONOMIC GROWTH?

Although the finance‐growth relationship is now firmly entrenched in the empirical literature, we show that it is not as strong in more recent data as it was in the original studies with data for the period from 1960 to 1989. We consider several explanations. First, we find that the incidence of financial crises is related to the dampening of the effect of financial deepening on growth. Excessive financial deepening or too rapid a growth of credit may have led to both inflation and weakened banking systems which in turn gave rise to growth‐inhibiting financial crises. Excessive financial deepening may also be a result of widespread financial liberalizations in the late 1980s and early 1990s in countries that lacked the legal or regulatory infrastructure to exploit financial development successfully. However, we find little indication that liberalizations played an important direct role in reducing the effect of finance. Similarly, there is little evidence that the growth of equity markets in recent years has substituted for debt financing and led to a reduced role of financial deepening on growth. (JEL E44, G10, O40)     

Sport and the Basques: Constructed and Contested Identities, 1876–1936

This article explores relationships between sport and the construction and expression of collective identities in the Basque Country of northern Spain. It focuses on the period between the restoration to the Bourbon monarchy in 1876 and the outbreak of the Spanish Civil War sixty years later, which was transitional in economic, social and political terms, with pockets of rapid industrialization and the rise of Basque nationalism. It identifies three kinds of relevant sporting cultures: the traditional, local and popular; the adaptive traditional which embraced the new worlds of commercialised leisure; and the imported codified sports, whether elite or commercial, from lawn tennis to football. A key conclusion is that, here as perhaps elsewhere, the new sporting cultures did more to divide the Basques than to unite them.     

Studying multinational migrations,speaking back to migration theory

A growing body of migration scholarship has highlighted the inadequacies of a single‐origin‐single‐destination model for thinking about international migration in our globalizing world. Several terms – onward, stepwise, serial, secondary, triangular, multiple, and transit migration – have been coined to describe these multiple moves within a single migratory lifetime, but the lack of consensus on the terminology to describe these migrations is indicative of the lack of theoretical clarity on this emergent phenomenon. We therefore propose to introduce a new umbrella term, ‘multinational migrations', to capture the varied movements of international migrants across more than one overseas destination with significant time spent in each country. The articles presented here bring together researchers investigating multinational migrations across a range of migrant categories and between various migration hubs. They highlight how individual imaginations, aspirations, capabilities and subjectifications interact with multinational migration infrastructures (in the domains of education, tourism, labour, and citizenship) to lead to the adoption of complex multinational migration trajectories.     

AN INDEX FOR THE MEASUREMENT OF CONSUMER LOYALTY*

The concept of consumer “loyalty” (i.e., preference for a particular store or brand) is intriguing to marketing scholars and practitioners. Research in this area would be enhanced by the acceptance of an operational measure of consumer loyalty. Loyalty appears to be a tri-dimensional concept; per cent of budget, allocated to the store or brand, amount of switching, and number of alternatives explored have been used to measure loyalty. Consequently, the authors propose a “loyalty index” which combines these three measures. An empirical test of the proposed index showed that the index did discriminate among degrees of consumer loyalty, and was related to consumer psychological characteristics in a manner similar to that of the generally used single measures of consumer loyalty.     

Toward a Dialogical Perspective on Agency

The aim of this article is to motivate and outline a dialogical perspective on agency that accommodates centrifugal and centripetal tendencies in current cultural theories of agency. To complement approaches that assume a high degree of integration and clarity, we emphasise the diversity of agency as it is experienced in the open-ended dialogical relationship with a particular other. While these former approaches to agency provide us with the means to examine the influence of social processes such as division of labour and reproduction of community, they tend to underplay the importance of agency as it is embodied and experienced in the lives of particular people. To reflect on this aspect of agency, we will draw extensively on Bakhtin's work, which crosses boundaries between philosophy, psychology and literary criticism, and which is concerned to understand what is personal in activity. In terms of agency, his work draws our attention to the sense of responsibility and potentiality that imbues our dialogues with particular others, the aesthetics and ethics involved in dialoguing with the other, and the sense of dilemmatic choice and intonation that is involved in our dialogue with the other.     

The Beginnings of English Imperialism

Abstract This article looks at a critical stage in the forcible anglicisation of Ireland. Scotland and Wales, and argues that the set of cultural images which provided the moral energy for English imperialism first emerged in the twelfth century, i.e. about four centuries earlier than is commonly supposed. By early twelfth century profound economic, social, military and cultural developments had so transformed England as to mean that the English and Celtic worlds were now sufficiently far apart for the differences between them to be visible to contemporaries, notably to William of Malmesbury, the first to articulate this 'significant otherness' in terms of the classical contrast between civilisation and barbarism.     

The Next-Birthday Method of Respondent Selection

Four procedures for selecting telephone survey respondents withina household unit—Troldahl-Carter, male/female alternation,next-birthday, and no-selection methods—were comparedin a small-sample survey. The data indicate that the next birthdaymethod is a relatively efficient procedure for selecting a samplethat is representative of all household members.     

A System for Monitoring Social Work Activity with the Frail Elderly

Summary This paper describes the development of a recording system foruse by social workers in the long term care of elderly peopleat home. The system can be used by individual staff to plottheir caseload activities and by management in considering problemsof resource deployment. The system consists of Assessment Document,Periodic Case Reviews, a Monitoring Chart and Costing information.The analysis of a cohort of cases in the early phase of theircare are discussed and the possible range of uses for such arecording system considered.     

DEADWEIGHT LOSSES AND THE SAVING RESPONSE TO A DEFICIT

Several recent empirical studies have challenged the conventional wisdom that deficits cause a higher interest rate. Many economists are, however, critical of the seemingly implied theoretical justification—that every individual fully recognizes the size of the deficit and the extent to which it increases future tax liabilities. This paper demonstrates that far weaker information assumptions are needed to obtain an aggregate savings response equal to the deficit: a reallocation of deadweight losses causes Ricardians to save more than their share of the deficit to keep consumption unaffected, allowing for a substantial fraction of Keynesians who save less than their share.     

OPTIMAL PRICES AND ANIMAL CONSUMERS IN CONGESTED MARKETS

We argue that congestion, when it affects the consumption of a commodity, ought to be measured by the product of the number of trips made to a seller and consumption per visit. When intensity of consumption is measured this way, uniform entry fees, the most common way of pricing congested goods, become nonoptimal. A strict user charge can be Pareto efficient. If a uniform entry fee is practiced, we present a model along with experimental data from diverse species subject groups that show consumers reduce visits and consume more per visit; this behavior may intensify the congestion problem.