National Market (national + market)

Distribution by Scientific Domains

Selected Abstracts

China's Second Economic Transition: Building National Markets

Marshall W. Meyer

Market integration in Russia during the transformation years,

Konstantin Gluschenko
Abstract A cross-sectional relationship among Russian regions between price dispersion and per capita income dispersion is used to measure the degree of integration between regional commodity markets. The sequence of cross-sectional estimations for each month of the period spanning 1992 through 2000 provides the temporal pattern of market integration in Russia, yielding an integration trajectory. The regional fragmentation of the national market increased during the early years of transition but integration has subsequently tended to improve notwithstanding occasional deviations from this trend. [source]

Toward a National Market System for U.S. Exchange,listed Equity Options

Robert Battalio
ABSTRACT In its response to the 1975 Congressional mandate to implement a national market system for financial securities, the Securities and Exchange Commission (SEC) initially exempted the option market. Recent dramatic changes in the structure of the option market prompted the SEC to revisit this issue. We examine a sample of actively traded, multiply listed equity options to ask whether this market's characteristics appear consistent with the goals of producing economically efficient transactions and facilitating "best execution." We find marked changes between June 2000, when quotes are often ignored, and January 2002, when the market more closely resembles a national market. [source]

Geographies of the financial crisis

AREA, Issue 1 2009
Manuel Aalbers
Real estate is, by definition, local as it is spatially fixed. Mortgage lending, however, has developed from a local to a national market and is increasingly a global market today. An understanding of the financial crisis is ultimately a spatialised understanding of the linkages between local and global. This article looks at the geographies of the mortgage crisis and credit crunch and asks the question: how are different places affected by the crisis? The article looks at different states, different cities, different neighbourhoods and different financial centres. Investors in many places had invested in residential mortgage backed securities and have seen their value drop. Housing bubbles, faltering economies and regulation together have shaped the geography of the financial crisis on the state and city level in the US. Subprime and predatory lending have affected low-income and minority communities more than others and we therefore not only see a concentration of foreclosures in certain cities, but also in certain neighbourhoods. On an international level, the long-term economical and political consequences of this are still mostly unknown, but it is clear that some financial centres in Asia (including the Middle East) will become more important now that globalisation is coming full circle. This article does not present new empirical research, but brings together work from different literatures that all in some way have a specific angle on the financial crisis. The aim of this article is to make the geographical dimensions of the financial crisis understandable to geographers that are not specialists in all , or even any , of these literatures, so that they can comprehend the spatialisation of this crisis. [source]

Changes in prescribed drug doses after market introduction

Eibert R. Heerdink PhD
Abstract Purpose The establishment of recommended dosing regimens has always been a difficult aspect of drug development. This paper examines the extent to which postmarketing prescribing deviates from initially recommended dosing regimens. We used the World Health Organization's (WHO) periodically updated compilation of the ,Defined Daily Dose' (DDD) to reflect prevailing patterns of prescribing in national markets. The aim of this study was to evaluate DDD changes over time (1982,2000) and to identify possible determinants of these changes. Methods Data on DDD changes were obtained from the WHO's Oslo Collaborating Centre. We performed a case,control analysis in which we compared drugs with (cases) and without (controls) postmarketing changes in DDD on possible determinants associated with DDD change. Results We found 115 instances of a change of DDD in the period 1982,2000 (45 (39.1%) increases and 70 (60.9%) decreases). Antibiotics showed the greatest number of changes in DDD: predominantly increases in the 1980s, while the 1990s were dominated by decreases in DDD of mostly cardiovascular drugs. Conclusion Changes in DDD reflect the outcome of a melange of forces, including misconceptions of dose requirements during pre-market development of drug and postmarketing changes in pharmacotherapeutic knowledge, clinical concepts, economic forces, and, in the case of anti-infective agents, changing patterns of resistance/sensitivity of target microorganisms to the anti-infective agent(s) in question. Copyright © 2002 John Wiley & Sons, Ltd. [source]

Dumping: Trade Policy in Need of a Theoretical Make Over,

William A. Kerr
But sufficient justification is to be found in the usage of the most authoritative writers and in the considerations of economy and precision of terminology for confining the term dumping to price-discrimination between national markets (original emphasis). Jacob Viner (1923, p. 3)1 Anti-dumping cases are on the rise internationally and are becoming a major weapon in the protectionist arsenal. The definitions of dumping, however, are not based on theoretically sound economic reasoning meaning firms are often falsely accused of engaging in unfair pricing practices when exporting. The historic bases of the current definitions are outlined and their theoretical deficiencies fully explained. Suggestions are made regarding how the definition of dumping used in international law could be put on a sound economic basis. Les cas d'antidumping sont internationalement à la hausse et deviennent une arme importante dans l'arsenal du protectionniste.Cependant, les définitions de dumping ne sont pas basées sur un raisonnement économique théoriquement sains, c'est à dire les firmes exportatrices sont souvent faussement accusées de s'engager dans des pratiques de tarification favorables. Les bases historiques des définitions courantes sont décrites et leurs insuffisances théoriques sont entièrement expliquées. Des suggestions sont faites concernant la façon dont la définition de dumping dans le droit international pourrait être basée sur des concepts économiques solides. [source]