Search

The United Kingdom's Indo-Pacific "tilt" has been warmly encouraged by Japan, its closest security partner in Asia. As UK-Japan strategic alignment evolves, the security and defence documents of both partners appear to also converge around a desire to "create" or "shape" a desirable regional environment. This paper illustrates how states may do so, using Japan and the UK as case studies. It investigates the theoretical premise and policy instruments available, before assessing opportunities and constraints. [ABSTRACT FROM AUTHOR]

This paper produces the first cross-country evidence on the relationship between the size of foreign exchange reserves and local currency internationalization using a sample of Switzerland, Japan and the UK. It finds that a high ratio of foreign exchange reserves to international reserves has a significant, but negative, impact on local currency internationalization during the period 1976-2009. After controlling for interest rate differential, different indicators for long-run depreciation and volatility of exchange rates, as well as the once-in-a-century global financial crisis of 2007-2009, the above conclusion still holds. Additionally, these results are robust to different methods (Pooled OLS and Pooled IV/2SLS) and measures of the scale of foreign exchange reserves. This study is informative for any policy decisions and will provide a strategic reference for the Chinese government as it optimizes the composition of its international reserves, promotes the process of renminbi (RMB) internationalization and becomes a major power through financial development. [ABSTRACT FROM AUTHOR]

In this paper cointegrating relations between six East and Southeast Asian markets relative to a base cluster of three global markets are investigated in the framework of zero-non-zero (ZNZ) patterned vector error-correction modelling (VECM). The analysis focuses upon market relations both before and after the Asian currency crisis. The strength of integration between markets is also evaluated by extending Geweke's measurement approach within this framework. The results show that, since the crisis, estimated integration strengths have become more powerful between the Asian and global markets, with the US market leading both the Asian markets and the markets of Japan and the UK. [ABSTRACT FROM AUTHOR]

This paper presents a comparative analysis of the construction industry in four practices. The study uses construction statistical data and Gross Domestic Product (GDP) numbers for the analyses. The study covers the construction industry and practices in the context of economic outlook, procurement trends, licensing, construction and housing data, etc. The analyses show the comparison of the practices in detail. It also presents the effects of macro and micro economic factors in overall construction industry performance. [ABSTRACT FROM AUTHOR]

Enumerates the organizations and programs involved in the development of nanoscience and nanotechnology worldwide. Center for Nanoscale Systems in Information Technologies at Cornell University in Ithaca, New York; Institute of Nanotechnology in Great Britain; Basic Science and Technology Plan in Japan.