Financial Intermediation Modernization in Countries with Transition Economy

During the modern phase of economic reforms directed at the establishment of market economy, many countries with transition economies face the challenge of solving the issue of formation and rational usage of internal sources of financing the real sector of the economy, as well as attracting considerable volume of direct foreign investment. In general, financial market imperfections hold back innovation and growth, and that public policy can complement financial markets. Therefore, the most relevant issue at the present time is the formation of attendant and complex supervision institutions, as well as an exigency of innovative economy governance as mainframe principles for further banking system elaboration and financial sector development in general. We have taken Armenia as a case study for transition economy as far as Armenia is currently in the stage of capital market development through integration into international financial markets.      

Social Movement Strategy,Tactics, and Collective Identity1

Tactical choices and their execution are closely related to the construction of collective identities in social movements. Studying collective identity has helped scholars understand why people participate in collective action, but the array of tactics that constitute action has not been fully explored. An emerging interest in culture and strategy that situates social movement actors in a field of contention with opponents, allies, and bystanding publics raises questions about the tactics that are used and the construction of collective identity, which is formed in interaction with others. Strategies and tactics reflect collective identities but also provide opportunities for reaffirming or challenging them. Innovative methods can create tension as activists work to resolve what they do with who they feel they are. Conflict studies, nonviolent action studies, and sociological research using concepts such as framing, discourse, protest events, and tactical repertoires offer tools with which to bridge tactics and collective identity.     

HIV testing,perceptions of AIDS risk,and condom use motivation among US women

As STD infections including HIV increase in the United States, it has become increasingly important to policy makers to ascertain the extent to which knowledge and perceptions of AIDS risk affect an individual's probability of altering their sexual or contraceptive behavior to avoid infection. This paper examines the extent to which women's perceptions of their own and their partners' risk of HIV infection affects the probability of using a condom for protection against sexually transmitted diseases. This paper also examines the extent to which HIV testing may affect motivation for condom use. Crosstabulations reveal that prophylactic condom use is more prevalent among women who have been tested for HIV and increase as perceptions of their chance (and their partner's chance) of being positive increases. The multivariate results from this study indicate that having an HIV test significantly predicts the likelihood of using a condom for STD prevention for US women. Furthermore, women who perceive themselves to be at least somewhat likely to be HIV positive have a higher probability of using a condom to prevent sexually transmitted disease, and women who perceive their partners to be HIV positive are twice as likely as other women to use a condom for STD prevention. However, women who consider themselves likely to be HIV positive are no more likely to use a condom than those who consider themselves not at risk.     

A computationally simple bivariate survival estimator for efficacy and safety

Both treatment efficacy and safety are typically the primary endpoints in Phase II, and even in some Phase III, clinical trials. Efficacy is frequently measured by time to response, death, or some other milestone event and thus is a continuous, possibly censored, outcome. Safety, however, is frequently measured on a discrete scale; in Eastern Cooperative Oncology Group clinical trial E2290, it was measured as the number of weekly rounds of chemotherapy that were tolerable to colorectal cancer patients. For the joint analysis of efficacy and safety, we propose a non-parametric, computationally simple estimator for the bivariate survival function when one time-to-event is continuous, one is discrete, and both are subject to right-censoring. The bivariate censoring times may depend on each other, but they are assumed to be independent of both event times. We derive a closed-form covariance estimator for the survivor function which allows for inference to be based on any of several possible statistics of interest. In addition, we derive its covariance with respect to calendar time of analysis, allowing for its use in sequential studies.     

Effects of unmeasured heterogeneity in the linear transformation model for censored data

We investigate the effect of unobserved heterogeneity in the context of the linear transformation model for censored survival data in the clinical trials setting. The unobserved heterogeneity is represented by a frailty term, with unknown distribution, in the linear transformation model. The bias of the estimate under the assumption of no unobserved heterogeneity when it truly is present is obtained. We also derive the asymptotic relative efficiency of the estimate of treatment effect under the incorrect assumption of no unobserved heterogeneity. Additionally we investigate the loss of power for clinical trials that are designed assuming the model without frailty when, in fact, the model with frailty is true. Numerical studies under a proportional odds model show that the loss of efficiency and the loss of power can be substantial when the heterogeneity, as embodied by a frailty, is ignored. An erratum to this article can be found at     

Private Bag: More on the Myths That Population and Immigration Are No Longer Problems

Population and Environment -     

An Investigation of Measures of Modern and Old-Fashioned Sexism

Working from the Principle of Beneficence we make the case that there is a need for adequate measures of sexism in men and women. Swim, Aikin, Hall and Hunter (1995) suggest that modern sexism represents a constellation of beliefs in which individuals: (a) disavow women's present-day discrimination; (b) reject women's demands for political and economic power; and (c) disapprove of policies designed to promote gender equality. To assess this construct, Swim et al. (1995) developed the Modern Sexism Scale (MSS), and to date, few studies have assessed its reliability and factor structure. Using data from 187 Canadian participants, confirmatory factor analysis was used to assess the unidimensionality of the MSS and Swim and associates' (1995) Old-Fashioned Sexism Scale (OFSS). Results do not support Swim et al.'s conceptualization of modern sexism as a unidimensional construct; however, the OFSS fit a unidimensional model. The implications of these findings are discussed.     

Estimating chance reproducibility in Guttman Scaling

A definition of reproducibility in Guttman Scaling and two chance measures of reproducibility are suggested. The first measure assumes that the items are independent. The second method assumes nonindependent items and fits respondent and item margins by an iterative method used in fitting log-linear models. Chance reproducibility is conceptualized in terms of assumptions about respondent variability.     

The ranking assumption

This paper is an attempt to raise some general objections to the whole concept of making decisions on teleological principles. Its scope is finally the whole concept of how we rationally decide, on a teleological basis, to do any act at all. However the arguments developed here arise from the recent discussions about one particular species of teleological decision-making - utilitarianism. Therefore, while I hope that the paper has consequences that are important far beyond this one ethical theory, my objections are phrased in terms of direct arguments about utilitarianism. The recent lively debates on this topic make it easy to ask some interesting questions about this sort of goal-oriented theory. However, if my objections are correct, the scope of these questions is much wider than any one utilitarian theory (or cluster of theories) because my objections are about an assumption that is common to all teleological theories and not just to classical utilitarianism.