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Summarizes the net capital flows from industrial to developing/transitional countries 1970‐1996 and recent changes in their equity and bond markets; and identifies the factors affecting these portfolio flows and risk/return behaviour in OIC stock markets. Uses monthly stock return data from ten OIC countries to demonstrate that despite their volatility they might offer opportunities for portfolio diversification; and uses cointegration methods to investigate the dynamic relationships between them. Discusses the causes of the Asian currency crisis and its impact on these stock marekts; and considers what trade and development policies OIC countries should adopt to improve their economies.

Examines the role of medical audit in the internal market‐driven quality process in health care provision. Explores the requirements to establish an efficient and effective medical audit function in practice and examines the inter‐relationship between medical audit, information technology and training. Explores the practical implementation of medical audit in South Warwickshire District Health Authority, including the outcomes of a specific project on information management technology training for medical staff. Considers the information technology issues in the context of the District Authority also being a pilot site for the implementation of Hospital Information Support System (HISS) running on an IBM AS/400. Demonstrates a cost‐effective PC networked solution to the information requirements of medical audit and quality processes. Training and attitudinal obstacles to medical audit and information technology are tackled by a flexible, action learning approach.

The paper seeks to outline the limitations and constraints in measuring operational safety in an aviation environment and provide an overview of the work being done at British Airways to overcome them.

The paper looks at the limitations and problems of trying to measure safety and operational risk. These limitations are then discussed along with methodologies to overcome them. The paper then describes some of the methods being tried within British Airways to provide useful measures of risk whilst trying to avoid the problems identified previously.

The findings of the work are that there are potential ways to generate useful safety metrics from incident reporting data and that the best use of risk data is to focus attention within the organisation onto areas of risk that need to be addressed.

The paper is based on practical work being undertaken at British Airways, and therefore, is demonstrated to be practical in an aviation environment.

The drive for operational efficiency in aviation means that aircraft operations are increasingly run against a backdrop of measures and targets. This in turn generates an increasing need and desire to include safety as a metric that can be tracked and monitored. This paper is focussed on meeting that desire and ensuring that any metrics developed avoid, as far as practical, the problems of measuring safety and using it to drive operational performance.

Maintaining an adequate nutritional state, important at all times, is never more so than during the dark days of Winter. The body reserves are then taxed in varying degrees of severity by sudden downward plunges of the thermometer, days when there is no sight of the sun, lashing rains and cold winds, ice, frost, snow, gales and blizzards. The body processes must be maintained against these onslaughts of nature — body temperatures, resistance against infections, a state of well‐being with all systems operating and an ability to “take it”. A sufficient and well balanced diet is vital to all this, most would say, the primarily significant factor. The National Food Surveys do not demonstrate any insufficiency in the national diet in terms of energy values, intake of vitamins, minerals and nutrients, but statistics can be fallacious amd misleading. NFS statistics are no indication of quality of food, its sufficiency for physiological purposes and to meet the economic stresses of the times. The intake of staple foods — bread, milk, butter, meat, &c., — have been slowly declining for years, as their prices rise higher and higher. If the Government had foreseen the massive unemployment problem, it is doubtful if they would have crippled the highly commendable School Meals Service. To have continued this — school milk, school dinners — even with the financial help it would have required would be seen as a “Supplementary Benefit” much better than the uncontrolled cash flow of social security. Child nutrition must be suffering. Stand outside a school at lunch‐time and watch the stream of children trailing along to the “Chippie” for a handfull of chip potatoes; even making a “meal” on an ice lollie.

The purpose of this appendix is to provide documentation of the data sources and methodology underlying the empirical tests done in Chapters 2, 5, 6, 8, and 10 of the volume; the actual databases can be downloaded from the homepage of the Indiana University Center for International Business Education and Research (http://www.kelley.indiana.edu/GPO/research.cfm). The databases for multinational enterprises used in Chapters 7 and 9 are described in Chapter 9 and are not covered in this appendix.

The gravity equation applied to international trade uses, among the explanatory variables, basic factors, such as income and distance, and other factors, such as cultural and institutional variables. The basic factors are treated in the first section and other factors in the second.

The aviation industry has traditionally been good at learning from its accidents: a global network of government run accident investigation organizations and the high media profile given to any major aviation disaster helps to ensure this. As commercial aviation successfully reduces its accident rate the opportunity for learning from accidents diminishes and learning from potential accidents becomes more important. Ironically, however, this success can generate a culture that minimises the perceived potential of incidents and becomes less likely to learn from them. The key to overcoming this is in generating a culture that has the desire to maximize the lessons for safety from any opportunity and openly share that learning. To succeed, this culture has to overcome the human and organizational desire to find a single cause and attribute blame. Invariably any accident is a chain of events and occurrences that come together in a tragic way and there are often many solutions to even the simplest incident. An incident that doesn't lead to a loss of life or significant financial burden should be seen as a “free lesson”, simply an opportunity to see how the system and its components broke down to allow the event, or more importantly one worse, to happen. Any system and ultimately any person is prone to failure and hence blame is of no value, understanding where the failures are likely to occur and how to minimise their potential is important.

A large portion of labor and trade in most countries is devoted to the service sector, and thus service sector impacts are crucial to a full understanding of the effects of WTO membership. The effect of WTO membership on trade volume has been subject to debate in the past, but critically, these studies have failed to examine service sector trade specifically. Conventional wisdom would seem to suggest that WTO membership should have boosted services trade, particularly after the implementation of the General Agreement on Trade in Services (GATS) in 1995. However, the relationship has yet to be rigorously tested. Here, I use data comprising 178 countries across a span ranging from 1995 until 2015 to examine the impact that WTO membership, and specifically WTO accession, has had on service sector trade levels relative to goods trade levels after the adoption of GATS. Statistical tests yield weak evidence for any significant relationship between WTO membership and service sector trade, with some possible exceptions for states that underwent many rounds of negotiations. This exception is explored further through a comparison of the WTO accessions of China and Vietnam. However, even in these extreme cases, it is difficult to find clear evidence of service sector liberalization. Overall, the findings imply that, in almost all cases, WTO rules and accessions have underemphasized service sector trade in favor of agricultural and goods trade, generating lopsided impacts to trade efficiency.

Safety precautions in the use of raw materials, in manufacturing and processing, marketing and enforcement of food and drug law on purity and quality may appear nowadays to be largely a matter of routine, with manufacturers as much involved and interested in maintaining a more or less settled equilibrium as the enforcement agencies. Occasionally the peace is shattered, eg, a search and recovery operation of canned goods of doubtful bacterial purity or containing excess metal contamination, seen very much as an isolated incident; or the recent very large enforcement enterprise in the marketing of horseflesh (and other substitutions) for beef. The nationwide sale and distribution of meat on such a vast scale, only possible by reason of marketing methods — frozen blocks of boneless meat, which even after thawing out is not easily distinguishable from the genuine even in the eye of the expert; this is in effect only a fraud always around in the long ago years built up into a massive illicit trade.

This study investigates the impact of real exchange rates on the trade balances between Thailand and its major trading partners. Previous empirical evidence gave mixed results of the impact of real exchange rates on trade balances. In this study, Augmented Dicky‐Fuller and Phillips‐Perron tests for stationarity followed by the cointegration tests are implemented. All variables in the model are nonstationary but cointegrated. In cointegrating regressions, biases are introduced by simultaneity and serial correlation in the error. The specification that deals with these problems is the non‐linear specification of Stock and Watson (1989). By using this non‐linear model as modified by Reinhart (1995), the results show that the impact of real exchange rates (Thai baht/foreign currency) on trade balances is significant in most cases. Therefore, the generalized Marshall‐Lerner condition seems to hold. Furthermore, the results show that the real exchange rates play a more important role in the determination of the bilateral trade balances than other factors. Since the real exchange rate variable plays a major role in this study, the policy recommendation is to prevent exchange rate misalignment. A policy that can neutralize the changes in nominal exchange rates and relative prices should be introduced to prevent further deterioration of the trade balance.