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Law Management & Policy

A voice in the wilderness

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Jamaica's Anti-Dumping and Subsidies Commission (ADSC) has ruled [by a majority] that cement imported from the Dominican Republic is being dumped in Jamaica, and that there was evidence of some injury to the domestic industry as a result, scoring a Round One victory to Caribbean Cement Company Limited.

But in its preliminary findings released Thursday, the commission also said that the majority determination was inconclusive as whether the injury was 'material'.

That is to be determined in the next phase of the investigation.

Last Updated on Saturday, 11 September 2010 11:57

More banks wanted

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Dr Derrick McKoy (l) and Hon Audley Shaw (r)

Minister of Finance Audley Shaw is advocating for new entrants to the financial sector. He argues that new players would spur competition for borrowers and reduce interest margins.

Shaw, who was addressing the 11th Annual Shirley Playfair Lecture on competition and regulation in the banking sector at The Jamaica Pegasus hotel on Thursday evening, reiterated what he said was his "disquiet" with the slow rate at which commercial banks had been reducing interest rates.

The minister said greater competition would lead to banks pricing their products more competitively, reducing stickiness in lending rates, and an overall lowering of interest margins to more sustainable levels.

Last Updated on Saturday, 11 September 2010 12:03

Modernisation of the framework for arbitration

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Arbitration can only be as good as its arbitrators, who are themselves constrained by the regulatory and institutional mechanisms which impact how they practise. Any attempt, therefore, to modernise the Jamaican framework for arbitration must consider the intricacies of the governing law and supporting institutions as well as the capacity of those who serve as arbitration practitioners.

Governing law

The governing law for arbitration in Jamaica is the Arbitration Act of 1900, which was modelled on the English Arbitration Act of 1889. Since enactment, the Jamaican law has remained in force without any significant amendment and its 'best by' date can no longer be deciphered in an environment where the requirements for arbitration now bear little resemblance to what would have existed in the early 20th century. In short, the 1900 Act is now outmoded and offers limited assistance to current arbitration practice.

Last Updated on Friday, 10 September 2010 23:00

Ghoshal was wrong

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Sumantra Ghoshal

It is not often that you have an academic paper that, in the opinion of other academics, turns the world on its head. Sumantra Ghoshal’s paper, “Bad Management Theories Are Destroying Good Management Practices” is one such paper. At the time he produced the article, which was published posthumously in the Academy of Management Learning and Education, 2005, Volume 4, No 1, 75-91, Ghoshal was attached to the Advanced Institute of Management Research, UK, and the London Business School and was a well-established consultant, business strategist and teacher.

In his article, Ghoshal took an in-depth look at some management theories, in particular agency cost theory and transaction cost theory, that he suggested have had a negative impact on business executives and how they manage the modern business enterprise.

Last Updated on Sunday, 05 September 2010 10:47

The middle class and development

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I remember some years ago when international aid and development agencies complained about the rising middle class in India. In the eyes of the IMF and the World Bank, then, the new middle classes were a plague on the land; they were consumers and encouraged consumption; and the little hard currency the country had was being frittered away on trivial things like radios , TVs  and motorcycles. The implication of the IMF position was that poor countries should not have inappropriate aspirations.  Consumption was for rich countries. Poor countries, like India, should be content with subsistence. The image the notables at the IMF and the World Bank tried to convey, living as they did and for the most part still do in the comfort afforded in the commercial and political centres of Western Europe and North America,  was that the middle classes in developing countries were greedy and parasitic. Apparently, in the minds of the IMF and World Bank notables of twenty years ago, those undesirable middle class characteristics featured only in developing countries and not in developed ones: It seems that in their opinion, consumption in Paris, London and New York were, on the other hand, good things.

The US$2500 Tata Nano, unveilded in India

The US$2500 Tata Nano, unveiled in India

Last Updated on Thursday, 28 July 2011 09:15

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