Search

This paper employs four cointegration test approaches, PO, HI, JJ and KSS, to test for pairwise long-run equilibrium relationships between Taiwan's stock price index and each of the stock price indexes of four European markets – French, German, Dutch, and British stock markets. The results from these four tests are robust and clearly consistent in suggesting that the Taiwan stock market is not pairwise cointegrated with the four European stock markets. This provides strong evidence that there exist long-run benefits for Taiwan investors diversifying in the equity markets of Taiwan's major European trading partners, France, Germany, Holland, and the UK, over the sample period considered from 6 January 1998 to 30 May 2002. These findings could be valuable to Taiwan individual investors and financial institutions holding long-run investment portfolios in the equity markets of France, Germany, Holland, and the UK. [ABSTRACT FROM AUTHOR]

This paper investigates the power of opposition parliamentary party groups when scrutinising their governments' decision-making concerning European Union issues, an important component in assuring democracy within the emerging multi-level system of governance in the EU. It first sets out the advantages that this provides to the political system, including improving government performance, improved democratic legitimacy, the channelling of disagreement and conflict into parliament, and preparing the opposition to govern. The article then proposes a set of criteria for measuring such power, which focus on the legal framework, institutional structures, and strategic behaviours, which give power to opposition parties when conducting scrutiny. Finally, the article considers these variables in four EU member states to evaluate empirically the power of opposition parties to scrutinise their government's EU decision-making. Because the power of scrutiny over EU matters must be seen in the context of the overall relationship of executive–legislative relations in a country, the four countries have been chosen to represent a country with a majority government (UK), two coalition governments (Germany and the Netherlands), and a minority government (Denmark). This analysis shows that opposition parties in parliaments with minority governments have the greatest power to scrutinise their government, followed by parliaments with coalition governments. Opposition parties in parliaments with majority governments have the least power. [ABSTRACT FROM AUTHOR]

Understood as a philosophy counselling group rights and concomitant public policies undertaken by governments to preserve and enhance group identities, multiculturalism has little purchase in European immigrant integration debates. However, based on interviews with various actors engaged in policies that affect immigrants in the Netherlands and Germany, we argue that multiculturalism remains a going concern if it is understood as a problem-solving practice through which governments acknowledge and work with ethnic and religious groups to address issues of mutual concern, particularly on issues related to gender. We label this ‘multicultural governance’ and argue that it supports the principal ends of integration policy: the socialization of immigrants into prevailing national languages, norms and institutions. [ABSTRACT FROM PUBLISHER]