Corruption in public policy and its impact on development: The case of Uganda since 1979

This paper argues that corruption is a product of self-aggrandizement; of unrealistically low remuneration which makes it impossible for public servants to live within their legitimate means; and of a closed political system which inevitably tends to exclude aggregated interests'. Corruption leads to loss of much needed revenue and human talent for development, distorts priorities for public policy, and shifts scarce resources away from the public interest. The mutual distrust that results among the different sections of society, and the growth of despondency in the general public, are incompatible with the requirements for successful public policy. The main theme running through the paper is that political instability, corruption and underdevelopment are mutually reinforcing. The paper finally outlines certain measures that need to be taken in order to clear the path for sustained growth and development.     

From processing to analysing: Intensifying the use of microcomputers in development bureaucracies

This article examines constraints in development bureaucracies in intensifying the use of microcomputers as they move beyond processing applications to analysing applications. The work is based on the experience of several ministries of the Government of Kenya. Processing applications involve throughput of data and are relatively simple. Analysing applications, in contrast, are more complex and include data assembly, sensitivity analysis, and modelling. The article argues that processing applications are more compatible with the administrative cultures, bureaucratic functions, personnel skill levels and organizational structures of development bureaucracies. Analysing applications are less compatible because they require a level of training and motivation uncommon in development bureaucracies. Analysing applications are further thwarted by constraints in the supply of relevant information and the lack of demand for analysis by decision-makers. A four-cell matrix is developed which explains these constraints. The article concludes with several recommendations for encouraging microcomputer-based analysis, but cautions that processing applications will continue to dominate for the foreseeable future.     

Evolving Market Efficiency with an Application to Some Bulgarian Shares

With new technically advanced methods and computers at our disposal, the efficient market hypothesis is once again being debated. At the same time, we are witnessing an unprecedented growth in both existing and new financial markets. These new markets are often in economies which have just recently embraced free market economics; we term these stock markets infant markets. Such stock markets are obviously not efficient in allocating the supply of savings to productive capital. We do not test whether or not these infant markets are informationally efficient, but instead examine whether and how they are becoming more efficient. We propose modelling the excess returns of individual securities using a multi-factor model with time-varying coefficients and generalised auto-regressive conditional heteroskedastic (GARCH) errors. If the markets are becoming more informationally efficient or the agents are learning, we would expect this to manifest itself as the time-varying coefficients becoming more stable as time increases. We test our model using data on four Bulgarian shares. First, we estimate an AR(2) model and a GARCH-M(1,1) model for the shares. Then, we estimated our AR(2) model with time varying coefficients and GARCH type errors. We find varying levels of efficiency and varying speeds of movement towards efficiency within our sample of four shares.     

Managing the Environment: Rhetoric, Policy and Reality

This article argues that, despite environmental issues climbing higher on the political agenda and considerable recent policy activity, rhetoric is not matched by reality in our efforts to manage the Australian environment. We integrate the imperatives emerging from the policy and sustainability literatures and from actual policy, with detailed work on wildlife conservation in Victoria's Central Highlands. Our analysis demonstrates that, rather than undertaking the more intensive policy and 'adaptive management' that is needed, governments are often doing less and may actually be 'taking their hands of their wheel'. Some public policy and administration implications of the emerging policy field of sustainability are illustrated.