The Islamic Banking Industry in Jordan

Thirty-three years ago Islamic banking was considered wishful thinking. However, serious research over the past two-and-a-half decades has shown that Islamic banking is not only feasible and viable, but is an efficient and productive way of financial intermediation. A number of Islamic banks have also been established during this period in Jordan. The objective of this paper is to examine the structure and performance of the Islamic banking industry in Jordan during the period 2000–2006. We find that the Jordanian Islamic banking industry is still in its infancy compared to a number of countries in the region and there is a growth trend in the financial services market, despite its current concentration and limited size.     

A class of neutral to the right priors induced by superposition of beta processes

A random distribution function on the positive real line which belongs to the class of neutral to the right priors is defined. It corresponds to the superposition of independent beta processes at the cumulative hazard level. The definition is constructive and starts with a discrete time process with random probability masses obtained from suitably defined products of independent beta random variables. The continuous time version is derived as the corresponding infinitesimal weak limit and is described in terms of completely random measures. It takes the interpretation of the survival distribution resulting from independent competing failure times. We discuss prior specification and illustrate posterior inference on a real data example.     

A hierarchical modelling approach for measuring reliability of and agreement between two types of magnetic field dosimeter

Summary.  The paper describes how to use hierarchical models to assess the reliability of and agreement between two or more types of measurement device. The idea is illustrated by fitting a linear model with nested random effects to a set of data that was obtained from the calibration of two samples of extremely low frequency magnetic field meters. The paper focuses on the formulation of a suitable model that accounts for the various aspects of the calibration protocol and the subsequent interpretation of the parameter estimates. The approach is very flexible and can easily be tuned to the various needs arising in the measurement agreement framework. It can be seen as an extension of the common practice of using a one-way random-effects model to retrieve a measure of agreement.     

Economic growth,labour flexibilization and employment quality in Colombia, 2002–11

Over the period 2002–11, the Colombian labour market saw a marked improvement in employment opportunities, accompanied by an increase in nonstandard forms of employment. The authors look at how this affected employment quality, using a composite index based on Categorical Principal Components Analysis (CATPCA). They observe a small but widespread improvement in employment quality – mainly for self‐employed women – brought about by higher earnings, increased social protection and less time‐related underemployment. However, a considerable “quality deficit” remains, which calls for policies to strengthen labour market institutions and stimulate productivity and investment.     

Objective Bayes Covariate‐Adjusted Sparse Graphical Model Selection

We present an objective Bayes method for covariance selection in Gaussian multivariate regression models having a sparse regression and covariance structure, the latter being Markov with respect to a directed acyclic graph (DAG). Our procedure can be easily complemented with a variable selection step, so that variable and graphical model selection can be performed jointly. In this way, we offer a solution to a problem of growing importance especially in the area of genetical genomics (eQTL analysis). The input of our method is a single default prior, essentially involving no subjective elicitation, while its output is a closed form marginal likelihood for every covariate‐adjusted DAG model, which is constant over each class of Markov equivalent DAGs; our procedure thus naturally encompasses covariate‐adjusted decomposable graphical models. In realistic experimental studies, our method is highly competitive, especially when the number of responses is large relative to the sample size.     

Barriers and Enablers to Safeguarding Children and Adults within a Disability Services Context: Insights from an Australian Delphi Study

Research conducted in the 1990s revealed the tragic irony that exposure to the disability support system, and particularly to its institutional forms, was a major risk factor related to the neglect and abuse of children and adults with a disability. Subsequently, a range of policies have been introduced to minimize risk. However, recurring events of abuse and neglect in the disability services sector in high and middle income countries demonstrate that processes geared to safeguard children and adults with a disability from abuse and neglect remain insufficient. To establish the wider fabric of organizational factors that contribute to effective safeguarding practices within the Australian disability support sector, a modified online Delphi study was conducted, capturing the views of disability services staff and managers (n = 249) regarding barriers and enablers to effective safeguarding. This study identified issues concerning organizational culture, management practice, workforce development, client capacity building and contextual factors. During Round Two of the Delphi, participants were asked to rate the categorized enabler statements according to importance on a 10‐point Likert scale, to ascertain the degree of consensus. A total of 262 of the statements were regarded as important or very important. The Delphi result highlighted the considerable gap between the wider systemic and cultural processes that, in the eyes of disability services staff and management, contribute to good safeguarding practice and the safeguarding measures currently in place. The article calls for a holistic approach to safeguarding that addresses procedural issues and to the transformation of the wider systemic and cultural fabric of an organization.     

On the volume-ranking of opportunity sets in economic environments

We provide a characterization of the volume-ranking of opportunity sets as defined on the set of all polyconvex sets, i.e. finite unions of convex, compact, Euclidean sets. In fact, such a domain is large enough to encompass most of the opportunity sets typically encountered in economic environments, including non-linear or even non-convex budget sets, and opportunity sets arising from production sets. Our result relies on a valuation-based volume-characterization theorem due to Klain and Rota (Introduction to Geometric Probability, Cambridge University Press, Cambridge, 1997) and helps to highlight some quite unusual conditions under which the volume-ranking can be justified as a freedom-ranking of opportunity sets. Therefore, it may also help to understand why the latter has been so conspicuously ignored in welfare analysis. Thanks are due to Larry Kranich, Massimo Marinacci, Uri Rothblum, Ernesto Screpanti, John Weymark, Yongsheng Xu, Claudio Zoli and two anonymous referees for helpful comments and suggestions.     

An Integrated Approach to Managing Change

Complex systems often involve a huge number of variables whose interdependence must be taken into account. This makes the adoption of an integrated approach essential for the proper management of a wide range of aspects related to human life, from social matters to the environment. In particular, this paper takes into consideration three different experiences in which the use of an integrated approach represented the most effective response for managing the evolving realities we took into consideration. We focused on the issue of land management, with particular attention to the problem of monoculture in Brazil. Then we analyzed the attempted cooperation between the States of the Aral Sea area for efficient water management of the basin and, finally, we dealt with the matter of energy efficiency and how the production of home integrated systems could lead to a better rationalization of energy consumption in the near future.      

Temporary Agency Workers in Italy: Alternative Techniques of Classification

Abstract. Cluster analysis and the classification tree technique are applied to investigate the relationship between the individual characteristics of Italian temporary help agency (THA) workers and their probability of achieving a temporary job. The application aims to show some advantages of these techniques with respect to traditional econometric tools. Sketches of the most common profiles among Italian THA workers are obtained as a result. Besides the typical THA worker pointed out by previous studies (young male workers, with a medium–high level of education, living in the Northern regions), two new profiles have been identified: the first comprising male manual workers with previous job experience, whose average age is over 30 and whose educational level is low; the second comprising young female workers with a medium–high level of education, working in the service sector or in the public sector. The results are compared with the more usual logit analysis and show their robustness.