TAXI DEREGULATION AND TRANSACTION COSTS

Deregulation of taxi markets has the potential to deliver significant benefits. However, it presents the problem of transaction costs and in particular problems linked with imperfect information and co-ordination. This article argues that the use of a centralised intermediary in deregulated taxi markets can overcome these problems so that the benefits of competition are maximised, without the need for government fare regulation.     

UNIVERSITY RESEARCH, INTELLECTUAL PROPERTY RIGHTS AND EUROPEAN INNOVATION SYSTEMS

Abstract This paper surveys the literature on university patenting. From the point of view of the economic theory of patents, it is argued that patenting knowledge developed by university researchers is paradoxical: patents are normally intended to stimulate knowledge development by providing property rights, but universities operate also under a different incentive scheme, i.e. they receive public funds to perform socially useful knowledge. In the debate surrounding the so‐called Bayh‐Dole Act in the USA, it has, however, been argued that patents on university inventions may be necessary to stimulate technology transfer from universities to private firms. The first part of the paper addresses two major questions. First, what is the economic logic of Bayh‐Dole, and, second, what were the effects on universities and the knowledge they develop? In the second part, the paper addresses the issue of whether ‘Bayh‐Dole‐like’ legislation would be beneficial for European countries. In a number of European countries, a suggestion has been made that this could enhance knowledge transfer from the public to the private sector. Using a new database resulting from a survey among patent inventors in six European countries, an assessment is given of the degree of university patenting in Europe. Because university researchers are often involved in patented inventions without the university being listed as a patent applicant, statistics based on the patent office databases alone often underestimate university patenting in Europe. The paper ends with a discussion of how this ‘European practice’ of university patenting affects public–private knowledge transfer in Europe, and how this compares to the effects of the Bayh‐Dole Act in the USA.     

POVERTY,INSTITUTIONS AND ECONOMICS: HERNANDO DE SOTO ON PROPERTY RIGHTS AND ECONOMIC DEVELOPMENT1

Hernando de Soto's analysis of the high cost of establishing, protecting and trading in property rights in his home country of Peru and other developing nations demonstrates the centrality of institutions to economic analysis and outcomes. The effective denial of property rights to hundreds of thousands of poor people means that their economic potential and that of their countries is largely untapped. De Soto's Peruvian think‐tank, the Institute for Liberty and Democracy, has worked for 20 years towards the implementation of reforms to clear property titles and reduce the excessive regulation that stifles developing world entrepreneurship.     

PROTECTION OF PROPERTY RIGHTS AND GROWTH AS POLITICAL EQUILIBRIA

Abstract This paper presents a survey of the literature on property rights and economic growth. Different theoretical mechanisms that relate property rights to economic development are discussed. Lack of protection of property rights can result in slow economic growth through different channels: expropriation of private wealth, corruption of civil servants, excessive taxation and barriers to adoption of new technologies. The origins of property rights are also considered. Different theories are illustrated but more attention is paid to the ‘social conflict view’ and its success and limitations. The second part of the paper illustrates relevant empirical works on property rights and growth.     

PEASANTS AGAINST PRIVATE PROPERTY RIGHTS: A REVIEW OF THE LITERATURE

Land is the main – if not the only – asset for a majority of people in developing countries. The definition and allocation of rights over land are thus naturally essential aspects of individuals’ daily lives, as well as critical determinants of social and economic development. The privatization of land rights has long been seen as a necessary process, enhancing both efficiency and equity. However, privatized land rights have not always emerged endogenously, while exogenously driven programs of land privatization have not always been successful nor popular. This has raised questions about the expected benefits of land rights privatization. This paper aims at summarizing the main arguments and studies, both theoretical and empirical, on this issue, with a specific focus on the factors that can make privatization inefficient or detrimental for the most concerned individuals.     

GREEN BELT, COUNTRYSIDE CONSERVATION AND LOCAL POLITICS: A HONG KONG CASE STUDY

International land-use concepts are transformed to suit local circumstances. What is truly common after local adaptation becomes arguable. This paper examines application of a British land-use planning concept, green belt, in the ex-colonial city of Hong Kong. Through examining its local history and planning decisions for village housing development within such zones, this study reveals the ambiguity and flexibility of this land-use concept in conserving the natural landscape and open countryside. It highlights the conflicts and compromises of green belt planning policy in connection with countryside protection, local politics and development pressures. The conclusion is that the green belt zone coincides with its overseas counterpart in name only; its substance and implementation are drastically diverse across cities.     

BROADBAND AND ECONOMIC DEVELOPMENT: A MUNICIPAL CASE STUDY FROM FLORIDA

In this paper, we explore whether broadband investment by municipalities has an effect on economic growth. To do so, we employ an econometric model to compare economic growth between counties in the State of Florida. Our econometric model shows that Lake County – a small county in central Florida – has experienced significantly greater growth in economic activity relative to comparable Florida counties since making its municipal fiber-optic network generally available to businesses and municipal institutions in the county. Our findings are consistent with other analyses that postulate that broadband infrastructure can be a significant contributor to economic growth.     

MANAGEMENT STRATEGY AND NEW TECHNOLOGY IN RETAIL DISTRIBUTION: A COMPARATIVE CASE STUDY

This paper examines the establishment of two large dry food warehouses or distribution centres (DCs) each of which involved much technological innovation. We explore whether the introduction of the same technology into two similar DCs in one corporation leads to similar outcomes and to what extent such a technological change may influence organizational behaviour. We assess the managerial strategies and tactics associated with the technological change and the subsequent experiences at each site. In short, distribution centre A (DCA) was plagued by industrial disruption and had low productivity. By contrast, distribution centre B (DCB) had virtually no disruption and had high productivity. Following a change of corporate strategy, DCA was contracted out to a third party independent operator and became DCX. the new management immediately reduced the industrial disruption there and appeared to increase the productivity too; thus DCX was transformed in comparison with DGA. These contrasts are explained in terms of differing managerial strategies, patterns of industrial relations and work organization. We conclude that these three factors are crucial in determining the success of technological change and are more important determinants of organizational behaviour than is the particular type of technology.     

CORPORATE MANAGEMENT IN LOCAL GOVERNMENT: A CASE STUDY

The purpose of this paper is an attempt to examine the development of a Corporate Management Unit in a north-western local authority. The research tool is social analysis and it is proposed to arrive at some conclusion concerning the contribution of social analysis to organization development. The research was undertaken in the early summer of 1974 when a total of fifteen unstructured person to person interviews were completed from a sum of fifteen respondents.     

PROPERTY RIGHTS AND THE GENERAL THEORY OF EXCHANGE: FREQUENTLY NEGLECTED IMPLICATIONS OF THE DIVISION OF LABOUR AND THE LAW OF COMPARATIVE ADVANTAGE

The importance of the division of labour and the law of comparative advantage to the operation of modern economies are well known, but many of the implications of these phenomena are less widely appreciated. This article examines the implications of the division of labour and the law of comparative advantage for the ownership and exercise of property rights and the creation and distribution of wealth. It is argued that a fuller appreciation of these phenomena leads to the conclusion that restraints on trade and redistributory measures infringe private property rights and reduce wealth.     

INDIGENOUS KNOWLEDGE AND INTELLECTUAL PROPERTY: A SUSTAINABILITY AGENDA

Abstract.  The paper argues that the current ways of protecting intellectual property are limited in their scope for recognizing indigenous rights to indigenous knowledge. Indigenous knowledge is often defined as being holistic and collectively owned, and an appropriate protection should allow for maintaining the cultural and physical environment that has generated it.
After examining the failure of the patent system to recognize indigenous input (using examples from the US Patent and Trademark Office), the analysis is directed towards alternatives. The world's first case of indigenous intellectual accreditation through the partnership between Mt Romance (Australian sandalwood company), Aveda (US-based multinational cosmetics corporation) and the Kutkabubba community (represented by the Songman Circle of Wisdom), is presented. The accreditation allows for the indigenous people to be recognized as traditional owners of the land, and for their care and knowledge about the sandalwood trees. It also gives them a share of the profits made from the contemporary use of the pure sandalwood oil.
The paper argues that sustainability, and indigenous sustainability in particular, provides a conceptual framework for a change in the way of protecting intellectual property. This implies that appropriate policies should be put in place for businesses to feel responsible towards the community.     

IDENTIFYING FACTORS WHICH INFLUENCE PRODUCT INNOVATION: A CASE STUDY APPROACH

This article provides an analysis of factors affecting the level of product innovation in a small enterprise setting. The perspective chosen considers the interaction of management and environmental factors and its impact on product innovation and explores how these factors interrelate to influence small business success (growth). A causal multi-site model is developed which will assist in identifying product innovation determinants for high-growth and low-growth firms. Moreover, direct and secondary explanations of product innovations will be isolated. Twelve case studies will be examined. The conclusions are that, for high-growth firms, determinants of product innovation that influenced small-business success (growth) were technology, competitive edge, research and development, product life-cycle, market change, product/market mix and customer base. For low-growth firms, customer base was a major determinant of product innovation which influenced small-business success (growth).     

AGRICULTURAL POLICY AS A SOCIAL ENGINEERING TOOL: A NEW JERSEY CASE STUDY

This study uses logistic regression to examine the preferences for social engineering policies in the agricultural sector in a New Jersey case study. It finds that farm operators are unlikely to support a policy allowing countries to restrict trade to pursue domestic economic and social policy goals if the policies affect international trade. In particular, it suggests that farm operators with annual gross sales including government payments between $500 000 and $999 999 are 80 percent less likely to indicate such a preference. Farm operators with advanced degrees, some college education, and a high school diploma are also unlikely to indicate such a preference. In contrast, farm operators who receive no income from farming or ranching and those who receive a percentage of family income from farming or ranching indicate that countries should be allowed to restrict trade to pursue domestic economic and social policy goals even if the policies affect international trade.     

CHALLENGING THE CHALLENGERS: A REVIEW OF SERENA OLSARETTI'S LIBERTY, DESERT AND THE MARKET AND DANIEL ATTAS'S LIBERTY, PROPERTY AND MARKETS

These books attack free markets and libertarianism, alleging that their fundamental assumptions are philosophically indefensible. Olsaretti challenges the thesis that free markets produce distributively just outcomes. At most, however, she shows that limited, desert-based justifications of free-market outcomes fail to satisfy her questionable desiderata, and that particular entitlement-based justifications are inadequately supported when they confound voluntariness and freedom. Attas challenges libertarianism itself, claiming that it is fundamentally wrong, and that libertarian notions of property rights are unsustainable. But he considers only arguments based on defective notions of self-ownership and confused notions of freedom; other, more robust justifications of liberty and property are ignored. Though both of these books fail to demonstrate the strong conclusions they assert, they highlight the dangers of substituting polemic for philosophy. Free markets, property and liberty need, and deserve, rigorous philosophical defences.     

TAX REVENUE-FINANCED PUBLIC ABATEMENT AND WELFARE: A CONSUMPTION TAX CASE

This paper develops a model of public abatement financed either by a pollution tax or by a consumption tax. It shows that consumption tax revenue-financed public abatement raises welfare more than pollution tax revenue-financed public abatement does when the pollution tax rate rises. This result is worthwhile for environmental protection policy makers when they are determining the revenue source of public abatement.