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Despite current strong trends in the world toward political & economic liberalization, counterveiling trends also exist, as evidenced by the widening gap between rich & poor nations. Also, despite declines in proportionate population, rich nations now account for a greater share of world wealth, trade, & finance than they did in the 1970s. The widening gap is due largely to the rapid technological progress taking place in the rich nations & a counterproductive asymmetry in the management of the world economy. Rich nations must assume greater responsibility for alleviating these conditions. Social science can assist through research in: economic history; strategies for strengthening the UN system; integration of environmental inputs into the system of national accounts; & the depth, scope, & dispersion of the growing interdependence of nations. 12 References. D. Generoli

Aus US-amerikanischer Sicht

In this paper we analyse the impact of instability caused by the Arab Spring on the co-movements and volatility spillovers of aggregated Financial Stress Indices for eight MENA countries. Using a dynamic frequency connectedness framework, we conclude that stress transmission between markets is higher at low frequencies than at high frequencies, which implies that MENA markets are slow in adjusting to the information they receive. The Global Financial Crisis generated stronger spillover effects between MENA markets than the political turmoil of the Arab Spring. These results are useful for investors with different investment horizons, and have policy implications for the maintenance of financial stability in this region.

PurposeThis paper places a college at the centreof a multi-hazard assessment (earthquake, flood and landslide). The college is within a less studied, rural area of Ladakh, North India. Research focusses on a case study (Students Educational and Cultural Movement of Ladakh (SECMOL) College), close to Leh, Ladakh, and extends to incorporate/apply thinking from/to the wider Ladakh region. The approach adopted, centring on the hazard assessment of a single entity/local area, allows a rapid uptake of hazard recommendations within a college environment planning to continue its existence for decades ahead. A sister paper (Pettersonet al., 2019) documents the active involvement of college staff and students in the principles of geohazard assessment and the development of student-centric hazard assessments of the college and their home village. SECMOL is a self-sufficient, alternative, college, organised along strong environmentally sustainable principles. The paper aims to discuss these issues.Design/methodology/approachThis work has adopted different strategies for different hazards. Fieldwork involved the collection of quantitative and qualitative data (e.g. shape and size of valleys/river channels/valley sides, estimation of vegetation density, measurement of sediment clasts, angle of slopes, assessment of sediment character, stratigraphy of floodplains and identification of vulnerable elements). These data were combined with satellite image analysis to: define river catchment character and flood vulnerability (e.g. using the methodology of Collier and Fox, 2003), examine catchment connectivity, and examine landslip scars and generic terrain analysis. Literature studies and seismic database interrogation allowed the calculation of potential catchment floodwater volumes, and the collation of epicentre, magnitude, depth and date of seismic events, together with recent thinking on the return period of large Himalayan earthquakes. These data were used to develop geological-seismic and river catchment maps, the identification of vulnerable elements, and disaster scenario analyses.FindingsThis research concludes that SECMOL, and much of the Ladakh region, is exposed to significant seismic, flood and landslide hazard risk. High magnitude earthquakes have return periods of 100s to c. 1,000 years in the Himalayas and can produce intense levels of damage. It is prudent to maximise earthquake engineering wherever possible. The 2010 Leh floods demonstrated high levels of devastation: these floods could severely damage the SECMOL campus if storms were centred close by. This study reveals the connectivity of catchments at varying altitudes and the potential interactions of adjacent catchments. Evacuation plans need to be developed for the college. Northern ridges at SECMOL could bury parts of the campus if mobilised by earthquakes/rainfall. Slope angles can be lowered and large boulders moved to reduce risk. This work reinforces recommendations that relate to building quality and urban/rural planning, e.g. using spatial planning to keep people away from high-risk zones.Practical implicationsThe frequency of hazards is low, but potential impacts high to very high. Hazard mitigation actions include engineering options for hazardous slopes, buildings to be earthquake-proofed, and evacuation management for large floods.Originality/valueMethodologies undertaken in this research are well-tested. Linkages between disciplines are ambitious and somewhat original. The application of this work to a specific college centre site with the capacity to rapidly take up recommendations is novel. The identification of catchment inter-connectivity in this part of Ladakh is novel. This work complements a sister paper (Pettersonet al., 2019) for community aspects of this study, adding to the novelty value.