Alternative measures of the marginal cost of funds

This article reconciles the use of two different marginal cost-of-funds (MCF) measures by resorting to alternative marginal benefit measures. It demonstrates how the alternative MCF measures can be properly applied to two classic problems in expenditure analysis: local cost-benefit project evaluation and the second-best public good level question. Relative strengths of the two MCF approaches in addressing the two problems are identified.     

Meaning of aging in women's lives

As limited resources led me to combine teaching and research responsibilities, my students have been participating in an assignment that involves listening to aging women in order to discover how women explain the aging process. We have conducted 329 comprehensive interviews of women who were living in the decade of their sixties, seventies, eighties, or nineties. In this sample of predominantly southern women in the United States, meaning of age is explained in a process involving both looking back (reminiscence) and looking ahead (preminiscence) at one's life course with specific references to changes in one's body, family, home, and keeping the faith.     

Reconfiguring ‘post‐socialist’ regions: cross‐border networks and regional competition in the Slovak and Ukrainian clothing industry

The global garment industry is currently being reshaped in dramatic ways through processes of trade liberalization, delocalization and interfirm and interregional competition. There has been much speculation about the increasing importance of factor (especially labour) costs in fuelling further rounds of de‐localization of garment production towards low‐cost production locations, such as China and India. However, the extent to which these processes mean the end to garment production in higher factor‐cost locations, including those neighbouring the major clothing markets of the USA and the EU, is open to question. In this article we interrogate the interregional shifts in garment sourcing taking place in Europe and its surrounding regions. While factor costs (including labour) are important determinants of the geography of sourcing, a range of other costs (logistical and policy costs) are important in structuring the geographies of global and regional production. Firms in the Slovak Republic are responding to increasing competitive pressures and we assess how trans‐border sourcing, subcontracting and FDI are being integrated into strategies to sustain European production networks. We highlight the emergence of cross‐border production relocation to Ukraine as one specific strategy. We examine the product specificity of these changes and the ways in which they are embedded within already existing production networks, forms of cross‐border contracting and central European trade regimes. In other words, we explore some of the forces that shape the somewhat tentative continuation of garment production for export to EU markets in central Europe despite the ‘spectre of China’.