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African decolonization and world disarmament

The Life and Work of Arthur (A.J.) Brown

Kenneth Button

Brown served on the Raisman Commission that reported on the challenges of decolonization of British East Africa, and as a member of the Advisory Group on Central Africa. The chapter sets out his participation in these two ventures as one of the main economists on one and as the economic expert on the other. It focuses on the way Brown applied trade and development economics to the issues that were encountered is this period of radical change in Africa. Brown, along with the likes of Oscar Lange and Wassily Leontief, also served in 1960 as the British representative in the United Nations consultative group on Economic and Social Consequences of Disarmament that explored the likely effects of large-scale disarmament on national incomes and employment. It considers Brown’s quantitative contributions to the group.

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Yahua Zhang and Anming Zhang

China and India have attracted the attention of the world in the last two decades as powerhouses of economic growth. However, scholarly studies comparing the development of two aviation markets and the market outcomes for the two countries are lacking. This chapter offers the first such comparative study, with a focus on the efficiency of airlines of the two countries. The study reviews the evolution of the air transport industry in China and India, and then assesses the efficiency performances of the state-owned and privately-owned airlines in the two markets. It is found that Indian carriers tend to be more efficient than their Chinese counterparts, and that Air India and Spring Airlines are the leaders in terms of achieving technical efficiency. The dominant status of the private airlines in the Indian market does not come by chance. The analysis shows that China’s aviation policy has long been hostile to the private carriers, and various obstacles to their expansion and growth still remain. In contrast, Indian private airlines, especially the low-cost carriers, have enjoyed more freedom and received support from a comprehensive air liberalization programme.

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Gianmaria Martini and Davide Scotti

This chapter analyses the evolution of the African airline industry by looking at the main policies that have been adopted, trends in the various airline markets within and without Africa between 1997 and 2013 and changes in the airline industry in the near future as it confronts continuing institutional challenges. Despite the growth in traffic in both intra-African and intercontinental flows and the increases in both the number of airlines and the level of competition, air transportation in Africa is still suffering from some long-standing weaknesses, including a lack of interconnectivity, an unbalanced traffic distribution, higher (compared to the rest of the world) fares and airline costs, and sparse demand. In sum, the market for air services in Africa is, overall, clearly healthier than in the past but, with a few notable exceptions, still lacks the capacity and service levels found in most other parts of the world.

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Air Transport Liberalization

A Critical Assessment

Edited by Matthias Finger and Kenneth Button

This groundbreaking book offers a critical and wide-ranging assessment of the global air transport liberalization process over the past 40 years. This compilation of world experts on air transport economics, policy, and regulation is timely and significant, considering that air transport is currently facing a series of new challenges due to technological changes, the emergence of new markets, and increased security concerns.
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Sean Barrett

Ireland played a leading role in advocating the liberalization of European aviation. It has also been a major beneficiary of the policy. Before liberalization in 1986 on the Dublin–London route, the sole Irish airline, Aer Lingus, had 2.3 m passengers in 1985. Under liberalization four Irish airlines had 130.5 m passengers in 2016. Ryanair carried 117 m passengers, more than any other airline in Europe. It has reduced fares by increasing productivity compared to legacy airlines, using secondary airports, increasing its load factors and the number of seats per aircraft, using a single aircraft type, achieving 25-minute airport turnaround times, replacing most free inflight services by sales and by ending ticket sales through travel agents. Liberalization of the airport market has increased Dublin’s market share in Ireland because of greater competition there, reducing road travel times since the completion of Ireland’s motorway network and ending the compulsion to have a stopover at Shannon.

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David Gillen and William G. Morrison

In this chapter we catalogue the evolution of air policy and airline competition in Canada’s domestic, international and transborder markets. We examine how Canada’s air transport sector transitioned from being highly regulated, government-controlled and subject to public utility style regulations to one of ‘differentiated’ liberalization. Yet despite deregulation, privatization and ‘open skies’ agreements, the status quo of dominance by a small number of airlines in Canada remains. While air service agreements have led to market growth in some dimensions the evidence is that airline market power has not been eroded. In particular Air Canada, once a government-created monopoly, continues to dominate as part of the Star Alliance. We discuss what a new air policy might look like for Canada and the balance between consumer welfare and wider economic benefits to aviation-dependent sectors versus policy that seems focused on the economic well-being of a small number of private airlines.

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James Peoples

This chapter reviews the history of aviation liberalization policy in the United States, with the objective of revealing whether competitive opportunities have increased for carriers serving US-international routes. Empirical analysis using US Department of Transportation data at the route level shows routes covered by liberal air service agreement charge fares that are 5.7 per cent lower than fares charged on routes that are not covered by such agreements. Mean findings also show greater frequency of service to passengers and a large number of carriers serving routes covered by these liberal agreements. These findings are consistent with previous research examining welfare gains associated with aviation policies that loosen restrictions on fare setting and entry. Findings from this study are interpreted as suggesting that additional welfare gains are available from negotiating with the remaining countries who have not negotiated more liberal aviation service agreements.

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Mohamed A. Gadhoum and Shamsher Mohamad

Benchmarks serve a critical role financial markets as a point of reference for pricing the riskiness of a financial security, to indicate the relative value or opportunity cost of capital while it also serves as a yardstick for the relative performance of a portfolio. The existence of a transparent, observable, liquid, easy-to-compute and non-manipulative benchmark is vital for efficient financial markets. Islamic finance has yet to develop appropriate benchmarks and currently use LIBOR as the reference benchmark in determining expected rate of return in shariah-compliant securities. This practice has been allowed by scholars as an exception under the law of necessity. Unfortunately, despite being in practice for decades, this exception has become a general rule and the practice is so prevalent that most practitioners in the Islamic finance Industry. The key difficulty lies in obtaining a rate of return in an economy based on profit-and-loss sharing. This chapter discuss in detail the development of a benchmark for shariah-compliant investments taking into consideration the conceptual and practical issues.

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Maarten van Klaveren and Kea Tijdens

This chapter aims to assess the size of informal employment from a gender perspective, focusing on industries with large shares of women workers and based on evidence from 14 countries. In these countries informal work was predominantly found in the agricultural sector. With a decreasing share of agriculture in total employment and a stable share of women, in the 2000s women’s informal employment decreased overall. The (further) shift of employment out of agriculture may be crucial for reducing vulnerable employment. However, in most countries this shift only partly translates into less vulnerable and higher value added activities, in particular in view of the characteristics of employment in commerce. The authors note that the lack of employment data on agriculture in national statistics hampers insight in the constraints for women of this major transformation, notably in terms of infrastructural provisions and basic services needed.

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Attracting a specific social cohort

Architecture and Urban Competitiveness

Peter K. Kresl and Daniele Ietri

There are several population cohorts that have positive consequences for the vitality and competitiveness of an urban region. Wealthy financial and corporate individuals bring their wealth and spending power and help to create city environments that are attractive to tourists and shoppers. Typically the cities that seek them create living environments that are congenial to them. Other cities have targeted younger workers, many with families, who are seeking an attractive place to work and to raise their children. They tend to be high tech workers with specific needs for culture, recreation and other amenities. Cities that create urban environments that they find congenial are successful; those that do not may stagnate. Rapid transit, parks, green buildings, cycle paths, pedestrian ways, entertainment districts, cultural districts with museums, performance centers and theaters, and playing fields are among the architectural features that are attractive to this younger workforce.