Background:The present study examines the short term dynamics and long term equilibrium relationship among the stock markets of 17 countries in Western Europe as well as the world market,using time series techniques.M...Background:The present study examines the short term dynamics and long term equilibrium relationship among the stock markets of 17 countries in Western Europe as well as the world market,using time series techniques.Methods:Weekly returns of market benchmark indices of the respective countries are used from the second week of 1995 to the fourth week of December 2013.Results:The study finds that the market returns of Austria,Belgium,the Netherlands,and France are relatively less dynamically interlinked as compared with Britain,Denmark,Finland,Germany,Portugal,Spain,Sweden,Switzerland,Greece,Ireland,Luxembourg,and Norway,which are quite dynamically interlinked within the region as well as with the MSCI world index.Conclusion:There exists a strong long run equilibrium relationship between the return distributions of the stock markets within the region.展开更多
As one of the oldest and best-known park systems,the US National Park System continues to influence park systems around the world.However,the origins and wide diversity of US national parks are often not fully underst...As one of the oldest and best-known park systems,the US National Park System continues to influence park systems around the world.However,the origins and wide diversity of US national parks are often not fully understood as there is a long-lived misconception that the large western parks represent the entirety of the US National Park System.In fact,the establishment of the first US national parks was heavily influenced by large 19th-century picturesque urban parks that provided benefits to the public and society.The foundational concept of national parks serving a public purpose has never changed,however,the types of landscapes selected as national parks have changed as societal values have evolved and now the system provides public benefits beyond those originally envisioned.This paper examines the development of the US National Park System,emphasising the evolution of landscape values.The emergence of the cultural landscape concept illustrates the evolution of landscape values from their early antecedents in the late 19th century to their contributions to innovative conservation strategies today.Throughout the development of the US National Park System,international exchange has and continues to play a pivotal role,advancing the inter-linkages of culture and nature for the most effective conservation.展开更多
文摘Background:The present study examines the short term dynamics and long term equilibrium relationship among the stock markets of 17 countries in Western Europe as well as the world market,using time series techniques.Methods:Weekly returns of market benchmark indices of the respective countries are used from the second week of 1995 to the fourth week of December 2013.Results:The study finds that the market returns of Austria,Belgium,the Netherlands,and France are relatively less dynamically interlinked as compared with Britain,Denmark,Finland,Germany,Portugal,Spain,Sweden,Switzerland,Greece,Ireland,Luxembourg,and Norway,which are quite dynamically interlinked within the region as well as with the MSCI world index.Conclusion:There exists a strong long run equilibrium relationship between the return distributions of the stock markets within the region.
文摘As one of the oldest and best-known park systems,the US National Park System continues to influence park systems around the world.However,the origins and wide diversity of US national parks are often not fully understood as there is a long-lived misconception that the large western parks represent the entirety of the US National Park System.In fact,the establishment of the first US national parks was heavily influenced by large 19th-century picturesque urban parks that provided benefits to the public and society.The foundational concept of national parks serving a public purpose has never changed,however,the types of landscapes selected as national parks have changed as societal values have evolved and now the system provides public benefits beyond those originally envisioned.This paper examines the development of the US National Park System,emphasising the evolution of landscape values.The emergence of the cultural landscape concept illustrates the evolution of landscape values from their early antecedents in the late 19th century to their contributions to innovative conservation strategies today.Throughout the development of the US National Park System,international exchange has and continues to play a pivotal role,advancing the inter-linkages of culture and nature for the most effective conservation.