THE FINANCIAL MANAGEMENT STRATEGY OF THE VICTORIAN COALITION GOVERNMENT

Abstract: This article reviews the budget sector financial management strategy of the Victorian Coalition government in the crucial period from its election in October 1992 up to the 1993–94 budget. The twin goals set by the Coalition were the elimination of the current account deficit, and the reduction of debt levels. Given infrastructure pressures, the debt reduction goal will be a difficult one to achieve. More precisely, it will be a difficult one to achieve without relying upon instruments such as assets sales, which the Coalition has viewed as artificial debt reduction techniques. The capital expenditure plans embodied in the 1993–94 state budget were not consistent with the debt reduction plans specified only months earlier by the Coalition. Victoria's debt levels are quite moderate even by OECD standards. What makes debt levels a real issue for the state is the narrowness of the tax bases of the Australian states, and the fact that Victoria is taxing at something like its maximum levels (at least, without coordinated multi-state tax increases). It is argued that, if the states could be confident that their revenue positions would hold firm (concretely, that revenue and grants as a proportion of GSP would remain constant), the appropriate debt policy goal for Victoria would be stabilisation — rather than reduction — of its debt/GSP ratio. However, the foreshadowed trend reduction of real commonwealth grants, as part of the so-called national savings campaign, makes it appropriate for Victoria — given the circumstances in which it finds itself — to target the reduction of debt/GSP levels.     

Malingering by Proxy: A Literature Review and Current Perspectives

Malingering by proxy (MAL‐BP) is a form of maltreatment that involves a caregiver who fabricates or induces signs or symptoms in a child, dependent adult, or pet in pursuit of external, tangible incentives. Rarely studied, MAL‐BP has an unknown prevalence, and is a challenging diagnosis for healthcare professionals. Therefore, a comprehensive computer literature search and review was conducted. The review uncovered a total of sixteen case reports of MAL‐BP (eleven human, five veterinary). The motive for malingering was financial in all human cases and medication‐seeking in all veterinary cases. Although the strategies employed differed among the identified cases, common themes regarding the best approach to identification of MAL‐BP cases became evident. A comprehensive workup including a thorough history, physical examination, appropriate neuropsychological testing, and relevant collateral information forms the basis of an effective identification strategy. The optimal method of management is currently unclear due to a relative paucity of data and guidelines. However, management of these cases would likely include a team‐based approach with a prudent assessment of safety for the proxy and a low threshold for referral to appropriate services. Long‐term follow‐up is essential and should be approached from a biopsychosocial perspective. Attention, research, and guidance on this topic are needed to develop further evidence‐based guidelines for the identification and management of MAL‐BP.     

Your rule of law is not mine: rethinking empirical approaches to EU rule of law promotion

The promotion of the “Rule of Law” is a leading ambition of the EU’s external action (Article 21 TEU). The dominant approach in most policy documents is to define the rule of law in terms of legal and institutional checklists. However, several authors have criticized this “anatomical” approach and have argued for a “sociological” approach. In this paper, I will discuss two empirical models of the rule of law. Most current studies follow the model of the “Rule of Law in Action.” This approach is based on Roscoe Pound’s distinction between the “law in the books” and the “law in action.” I will argue that this conventional approach has several shortcomings. I will therefore introduce an alternative model, based on Eugen Ehrlich’s concept of the “living law.” The principal concern of the “Living Rule of Law” model is not the level of social support but rather the social definition of the rule of law. To assess the strengths and weaknesses of both approaches, I will apply both models in a case study about rule of law reform in a refugee camp on the Thailand–Burma border. It will be concluded that empirical research is essential to evaluate the EU’s external action. Moreover, empirical studies based on the model of the Living Rule of Law support a legal pluralist approach, which focuses on the user perspective of citizens and which recognizes the contested notion of the rule of law across cultural borders.     

On compensation schemes for data sharing within the European REACH legislation

There is an intense debate on the impact of labour regulation in India today. Labour regulation in India differ state-wise and apply differently across types of workers (both regular and contract workers). This paper examines the joint effects of Employment Protection Legislation (EPL) and variable enforcement intensity on the growth in a size of temporary contract workers in the organised manufacturing sector. It uses the state level amendments to Industrial Dispute Act of 1947, and the average size of total number of labour inspectors for each state, as independent variables to capture the variation in labour regulations and enforcement intensity across thirty-one Indian states for the period 2000–2007. This paper argues that, average Indian firms located in strict EPL states hire differentially more temporary contract workers as compare to regular workers in response to variable enforcement intensity. Among other findings, the empirical analysis shows that firms prefer to employ excessive number of contract workers to circumvent firing and overall compliance costs of regular workers as stipulated by the Indian labour laws. Our results are robust to alternative specifications.     

Prosocial Behavior and Public Service Motivation

Although research on public service motivation (PSM) is vast, there is little evidence regarding the effects of PSM on observable behavior. This article contributes to the understanding of the behavioral implications of PSM by investigating whether PSM is associated with prosocial behavior. Moreover, it addresses whether and how the behavior of other group members influences this relationship. The article uses the experimental setting of the public goods game, run with a sample of 263 students, in combination with survey‐based PSM measures. A positive link is found between PSM and prosocial behavior. This relationship is moderated by the behavior of other group members: high‐PSM people act even more prosocially when the other members of the group show prosocial behavior as well, but they do not do so if the behavior of other group members is not prosocial.     

Cultures of high-frequency trading: mapping the landscape of algorithmic developments in contemporary financial markets

Abstract

As part of ongoing work to lay a foundation for social studies of high-frequency trading (HFT), this paper introduces the culture(s) of HFT as a sociological problem relating to knowledge and practice. HFT is often discussed as a purely technological development, where all that matters is the speed of allocating, processing and transmitting data. Indeed, the speed at which trades are executed and data transmitted is accelerating, and it is fair to say that algorithms are now the primary interacting agents operating in the financial markets. However, we contend that HFT is first and foremost a cultural phenomenon. More specifically, both individuals and collective agents – such as algorithms – might be considered cultural entities, charged with very different ways of processing information, making sense of it and turning it into knowledge and practice. This raises issues relating to situated knowledge, distributed cognition and action, the assignment of responsibility when regulating high-speed algorithms, their history, organizational structure and, perhaps more fundamentally, their representation.     

Constructing crime: Neighborhood characteristics and police recording behavior

It has long been acknowledged that police officers have substantial levels of discretion in their day-to-day activities. There is a well developed body of literature that considers how this discretion is exercised across a broad array of situations including the decision to arrest, use force, and grant citizen requests for official action. Using both social disorganization and conflict theories as conceptual models, the purpose of this study was to determine if neighborhood characteristics affect police reporting behavior across a wide cross-section of reported call types. The findings indicated that reporting behavior widely varies across crime types with a greater percentage of more serious crimes translated into official crime. Neighborhood characteristics did affect reporting practices, but surprisingly only for more serious forms of disorder where discretion was perceived to be less. The findings lent support for both social disorganization and conflict theories. Theoretical implications are discussed.     

Detection and quantification of low levels of benzoylecgonine in equine urine

Cocaine (COC) is a highly addictive plant alkaloid expressing strong psychostimulatory effect. It has no medical use in equine veterinary practice. The contamination of the environment with cocaine such as its presence on the US paper currency has been reported few times. There are anecdotal reports of low benzoylecgonine (BE) concentrations (usually much less than 100 ng/mL) being found in urine of race horses. In order to protect horsemen against harsh penalties associated with the presence of trace amounts of BE in horse urine as a result of environmental contamination, in February 2005 the Illinois Racing Board issued new medication rules that established the threshold level of 150 ng/mL for BE in equine urine. The penalties associated with this rule provide for increasing fines ($250, $500, $1000) with successive positive reports against a trainer for levels of BE below 150 ng/mL. A total of 19,315 urine samples were collected over the 2-year period of time from winning horses (both harness and thoroughbred) at race tracks in Illinois for routine drug screening (ELISA). The presence of BE was confirmed by GC/MS in 28 urine samples (0.14%). The concentration range for BE in harness horses (21 detections) was < 5-91 ng/mL, and for thoroughbred (seven detections) was 7-52 ng/mL. To date, the laboratory has not reported concentrations of BE that exceed the established threshold concentration of 150 ng/mL.