We propose a measure of capital market integration arising from a conditional regime-switching model. Our measure allows us to describe expected returns in countries that are segmented from world capital markets in one part of the sample and become integrated later in the sample. We find that a

The last few decades have seen a spectacular integration of the global economy through trade. The rising integration of world markets has brought with it a disintegration of the production process, however, as manufacturing or services activities done abroad are combined with those performed

Raising the standards of learning that are achieved through school education is an important national priority. Governments have been vigorous in the last ten years in making changes in pursuit of this aim. National curriculum testing, the development of the GCSE, league tables of school

can be developed. We then define a methodology for developing one of the popular architectures of an FDBS. Finally, we discuss critical issues related to developing and operating an FDBS.

This paper examines whether nancial development facilitates economic growth by scrutinizing one rationale for such a relationship; that nancial development reduces the costs of external nance to rms. Speci cally, we ask whether industrial sectors that are relatively more in need of external nance

, Ferguson, & Kopstein, 1990). The consequences of drug abuse are acute on both a personal and a societal level. For the developing young adult, drug and alcohol abuse under-mines motivation, interferes with cognitive processes, contrib-

We examine the separation of ownership and control for 2,980 corporations in nine East Asian countries. In all countries, voting rights frequently exceed cash-#ow rights via pyramid structures and cross-holdings. The separation of ownership and control is most pronounced among family-controlled "rms and small "rms. More than two-thirds of "rms are controlled by a single shareholder. Managers of closely held "rms tend to be relatives of the controlling shareholder's family. Older "rms are generally family-controlled, dispelling the notion that ownership becomes dispersed over time. Finally, signi"cant corporate wealth in East Asia is concentrated among a few families. � 2000 Elsevier Science S.A. All rights reserved. JEL classixcation: G32; L22

This paper presents a Bayesian method for constructing probabilistic networks from databases. In particular, we focus on constructing Bayesian belief networks. Potential applications include computer-assisted hypothesis testing, automated scientific discovery, and automated construction of probabilistic expert systems. We extend the basic method to handle missing data and hidden (latent) variables. We show how to perform probabilistic inference by averaging over the inferences of multiple belief networks. Results are presented of a preliminary evaluation of an algorithm for constructing a belief network from a database of cases. Finally, we relate the methods in this paper to previous work, and we discuss open problems.

Abstract not found

Information retrieval (IR) has changed considerably in the last years with the expansion of the Web (World Wide Web) and the advent of modern and inexpensive graphical user interfaces and mass storage devices. As a result, traditional IR textbooks have become quite out-of-date which has led to the introduction of new IR books recently. Nevertheless, we believe that there is still great need of a book that approaches the field in a rigorous and complete way from a computer-science perspective (in opposition to a user-centered perspective). This book is an effort to partially fulfill this gap and should be useful for a first course on information retrieval as well as for a graduate course on the topic. The book