Parikshit K. Basu

Cultural differences, learning styles and transnational education

Australian universities have been active participants in the transnational education market over the past twenty years. Many Australian universities have structured various forms of franchising arrangements with universities and other education providers, particularly with educational institutions in China. However, the cultural differences between Australia and China are substantial; furthermore, research has shown that Chinese students have unique characteristics that differentiate them from Western students. Nevertheless, Australian universities develop and implement programs in China with limited understanding of these differences. Consequently, to administer these programs better academics need to understand the differences that might exist in Chinese student cohorts. One area of possible difference is learning styles. Hence, the aim of this study was to explore the differences in learning styles between business students in China and Australia. The results suggest that there are substantial differences in learning styles between the two countries. Consequently, program managers need to consider these differences when structuring course offerings for students in China.

Conflicts and paradoxes in economic development

Papua New Guinea (PNG) relied heavily on exploitation of mineral wealth in the past for achieving economic growth. Although in terms of macroeconomic indicators, growth performance is not entirely unsatisfactory, the government failed to redistribute the benefits of this limited growth, and the beneficiaries have been localized and narrow. As a result, in terms of standard of living of its population, PNG remained one of the poorest nations in the world. In recent years, the new development strategy to a greater extent stresses renewable sources such as agriculture, fisheries, processing and downstream activities, and tourism. With its unique and pristine physical and cultural diversity, tourism can conveniently become the mainstream economic activity of this island nation. However, PNG tourism is entirely based on its natural, environmental and cultural resources. So any economic activity which disturbs these infrastructures is most likely to affect the tourism potential adversely. Development of agricultural activities, fisheries, forestry and mining, while undertaken indiscriminately (as it is done today), is actually affecting the potentiality of tourism growth and creating conflicts of economic interests. As a result, neither tourism nor other activities are being developed properly and the wellbeing of the country’s population remained unchanged. More importantly, these conflicts are often generating significant and far‐reaching social and political tensions. Unless controlled at this initial stage of development, the process can lead to a very unbalanced situation from where a turnaround would be extremely difficult.

Critical evaluation of growth strategies: India and China

Purpose - This paper aims to attempt to compare the development strategies and achievements of India and China in the last 50 years and to analyse the challenges lying ahead if the trend continues. Design/methodology/approach - The paper critically evaluates the growth strategies of the two economies. Changes in approaches, achievements and failures are analysed using materials from past research and secondary data. Impacts of economic reform process and economic management capabilities have been evaluated. Critical analysis is the main approach of the paper. Findings - Based on the experiences of economic growth so far with reformed and open economies, India can learn several things from China. China has achieved better results based on investment-driven export-oriented policies that may not be sustainable in the long run. It has so far ignored the socio-political issues, which can have very serious consequences in the future. Relatively slower economic growth in India is based on stronger socio-economic foundations. Mutually beneficial economic cooperation between the two economies and rising interdependence with regional and global powers should provide a better future. Originality/value - The paper provides a comprehensive picture of strategies, outcomes and possibilities. It links past development strategies to future challenges. It may be of value to researchers and policy makers in both economies while considering future directions.

Do the Determinants of Employability and Earnings Returns Produce Similar Outcomes in Metropolitan and Regional Labour Markets? The Case of New South Wales, Australia

Mallik G., Basu P. K., Hicks J. and Sappey R. Do the determinants of employability and earnings returns produce similar outcomes in metropolitan and regional labour markets? The case of New South Wales, Australia, Regional Studies. This paper analyses and compares the determinants of employability and earnings return outcomes in two diversified labour markets in Australia. Using advanced econometric techniques to analyse Confidentialised Unit Record Files (CURF) data from the 2006 Census, the paper identifies educational qualifications, broad occupational group, immigration status and age as the major determinants. In general, the metropolitan Sydney market places a greater value on higher education qualifications than do labour markets in the regions; immigrants, particularly from non-English speaking countries, are more likely to be disadvantaged in Sydney; and ageing provides a mixed impact in regional areas where on average older people work longer, but at lower wages.

WTO accession and Socio-economic development in China

Introduction: Socio-economic development in China i?½ WTO accession and related issues. Education, environment and services: Reform of Chinai?½s economic system with WTO accession and its impact on tertiary education The relationship between economic globalization and higher education internationalization in China Green strategies for enhancing economic growth and ecological sustainability in Xinjiang province in China Services in China: Prospects for growth and implications for Australia. Finance and accountancy: Trend and pattern of Foreign Direct Investment in Chinai?½s economic boom FDI Spillovers - the strategy for Chinese economic development The convergence of International Financial Reporting Standards in China: A view on the influence of political ideology on Chinese accounting profession Accounting standards development in China. Socio-econimoc impacts: Socio-cultural challenges to economic growth in China i?½ looking ahead Community development in China: problems and prospects Concluding remarks.

The Economic Impact of Ecotourism on Regional China: Further Evidence from Yunnan and Sichuan Provinces

This article contributes to the literature on the economic impact of ecotourism in regional China with a focus on Yunnan and Sichuan provinces, which attract about 50 per cent of the total number of tourists visiting China annually. Our analysis suggests that tourism significantly contributes to value added, output, income and employment generation in Yunnan and Sichuan provinces, although the level of contribution varies between the two provinces. For example, the impact of an additional tourist dollar would be higher in generating employment and household income in Yunnan province, while the same dollar has a higher impact in generating value added in Sichuan. While in both provinces international tourists generate much higher income per capita than their domestic counterparts, in comparison with Sichuan, Yunnan is considered to be better placed for further development of tourism, particularly ecotourism. The promotion of ecotourism in these provinces will also encourage the Chinese youth to stay in their own provinces rather than to migrate to export-processing provinces—a problem that has already created a concern among the Chinese policymakers.

BALANCING ACT: ADJUSTMENT OF CHINA'S ECONOMY TO SECURE SUSTAINABLE GROWTH

This paper uses income accounting techniques to assess, counterfactually, the implied impact over the last 10 years of a hypothetical government policy to constrain investment growth in order to raise the share of consumption in GDP and to bring about a balance on current account. We find that both target variables are very sensitive to changes in investment and that a policy of careful reform is called for. In the light of this finding, we review Chinese government policy pronouncements and activity with a view to assessing their appropriateness.

Market efficiency in emerging economies – case of Vietnam

The objective of this paper is to test whether the Vietnamese equity markets are weak form efficient or not using ADF unit root test of non-stationarity. The research used data on daily, weekly, monthly and quarterly returns from HCMSE since its inception as a trading centre in 2000 until 2012. The analysis considered the influence of the global financial crisis period on the market efficiency of the Vietnams stock market by considering data on pre-crisis, crisis and post-crisis periods. The research found that Vietnams stock market is weak form efficient, at least in the later period. This may suggest that Vietnams market is progressing towards weak form efficiency but the speed of transmission of information is slow. Thin trading in the market may also influence the speed of price adjustment in the stock market. Like most studies on market efficiency, results of this research should be considered with caution.

Regional diversity in growth performance in China

At the national level, China’s amazing growth has been driven by increases in labour productivity. Initially, this was explained by increases in the capital/labour ratio, but, more recently, increases in total factor productivity (apparently as a result of increased spending on education) have become a more important part of the explanation. This paper examines the growth experience at the provincial level and finds it to have been very uneven with the East generally growing earlier than the West. Notwithstanding this, the data suggests that growth in all provinces tends to pass through the same stages. Initially, labour productivity increases because of the growth in capital and, later in the process, growth is maintained because of improvements in TFP emanating from improvements in education. We identify that an appropriate policy measure to assist in achieving balanced growth across the provinces is to continue to increase educational expenditures in the lagging provinces.