Property finance in the UK in the post‐war period

Summary

This paper is intended to introduce readers to the subject of property finance and to provide a review of post‐war trends in property finance and investment. In particular, it considers the growth and influence of institutional investment. The property ‘myth’ is examined in the light of recent analysis of the rental performance of commercial and industrial property, and the obsolescence of buildings.     

What Causes Spatial Variations in Economic Development in the United States?

This article examines the causes of spatial disparities in economic development in the United States. A theoretical model is developed to analyze the location decisions of firms and households. An empirical model is estimated to quantify the contribution of alternative factors to spatial variations in wage, employment density, housing price, and land development density. Results suggest that remoteness is a primary cause of spatial disparities in economic development, while natural amenities are a major determinant of housing prices. Despite the dominant role of geography, public investments in infrastructure and human capital development could contribute to economic development in remote areas.     

Implementation of the forest expansion policy in the Netherlands in the period 1986–2007: Decline in success?

The current study explains why Dutch forest expansion policy is at risk of failure. To study the forest expansion implementation process we have chosen to further operationalize Matland's policy type implementation model to an extended and comprehensive typology of relevant implementation characteristics. In addition, a case study methodology with mixed-method design was used to collect and analyze the data. The Dutch forest expansion policy is currently an example of symbolic implementation. The symbolic implementation is a consequence of the absence of central guidance, the legislative complexity, the low policy stability, the lack of supporting conditions for policy innovation, the lack of regulatory responsiveness and the latent policy at state level and in many provinces. Nevertheless, the transferable development rights method of the province of Limburg is a promising innovation and forest expansion still happens, which is mainly the result of a good internal and external communication, an effective actor network of forest expansion advocates and the willingness to realize negotiated project aims that lead to a win–win situation for all actors involved. Nonetheless, it is expected that the forest expansion targets will be not reached, unless most of the above shortcomings are solved.     

Is there a slowdown in agricultural productivity growth in South America?

This article estimates agricultural productivity growth in 10 South American countries in 1969–2009 with the objective of investigating if the slowdown being measured in other countries is present in the region. Results show that productivity growth accounts for half of the three‐fold increase in agricultural output during this period and that performance is sensitive to R&D investments in the sector. The slowdown found for the 1990s to 2000s in the U.S. and some European economies does not seem to be present yet in South America. The region's total factor productivity (TFP) growth rate increased steadily from 1.07% during the 1970s to 2.29% during the 2000s. Given lags in adoption and the adaptive nature of innovations in these economies, we have yet to see the potential effects in South American agriculture of decreases in R&D in advanced economies.     

Are returns to research quality lower in agricultural economics than in economics?

We compare effects of research quality and quantity on the salary of academics in agricultural economics and economics departments of the same universities. Agricultural economists get a significantly lower payoff to research quality, whether measured by quality‐weighted journal articles (based on nine different weighting schemes) or by citations. Instead, salary depends on the quantity of journal articles, while article counts have no independent effect on economist salaries. These differences in the reward structure for research are not due to either the extension focus of agricultural economists or to disciplinary differences in publishing with students and instead may reflect institutional factors that govern incentives within universities. One‐third of academics in the agricultural economics departments studied here have doctoral training in economics; the very different disciplinary reward structures may cause frustration for these faculty due to the muted returns to research quality that agricultural economics departments seem to offer.     

Consumers’ Response to Genetically Modified Ingredients in Processed Food in an Emerging Economy

Genetically modified (GM) foods are available in many countries including post–Soviet Union countries. However, empirical evidence on consumer acceptance for this region is scarce. In this study, we investigate consumers’ willingness to purchase a processed food containing GM ingredients. For this purpose, a consumer survey was conducted in 2015 in Tajikistan. In many aspects, our results confirm previous empirical findings showing that women are more skeptical toward GM food and a higher level of respondents’ education and the presence of minors in households are negatively correlated with their willingness to purchase a processed food containing GM ingredients. Moreover, a higher risk perception of GM food is negatively associated with the probability to purchase and consume such foods. However, our results indicate that risk perceptions of GM food seem to be relatively low in comparison to other studies with 41.5% of Tajik respondents connecting no risks with GM food. This result is surprising given the existing knowledge about post–Soviet Union consumers who are usually assumed to reject GM food due to their strong focus on naturalness.     

What's driving innovation in small businesses in Australia? The case of the food industry

There is strong evidence that innovation is a primary driver of a nation's economic growth. As Australia continues to compete in the global economy, it is imperative that businesses should be innovative to improve their performance. In this paper, we evaluate the status and main drivers of innovation in small businesses in the food sector in Australia. Discrete choice modelling and bootstrapping procedures are applied to a panel of firm‐level data collected through the ABS Business Characteristics Survey (2006–2007 to 2010–2011 for the Australian Bureau of Statistics’ Business Longitudinal Database Confidential Unit Record File) to investigate the factors affecting the likelihood of small food businesses to innovate. Results show that businesses are more likely to innovate if they collaborate, have higher information and communication technology intensity, and use science, technology, engineering and mathematics skills. We also found that small food businesses, even at the subsector level, do combine different types of innovation when innovating. The propensity to innovate also increases for small businesses that have flexible working arrangements, face moderate‐to‐strong market competition, operate overseas and seek finance through debt and equity. The relative importance of these factors was found to vary between agricultural and nonagricultural food subsectors.     

Cashing in or driving development? Cross-border traders and maize contract farming in northeast Laos

Contract farming is receiving renewed attention in research and policy in the Mekong region of Southeast Asia, as countries continue to undergo varied agrarian transitions and agri-food production has become increasingly regionalized. In northeast Laos, previously isolated upland communities have experienced rapid transformations resulting from contract production of hybrid maize, mainly for industrial feed processing and livestock in Vietnam. Based on extensive qualitative fieldwork in the Lao-Vietnamese borderlands, this article explores the quasi-“developmental” functions assumed by cross-border traders, in the context of unfulfilled rural policy objectives, in which these “micro-investors” provide informal extension and infrastructure to enable agricultural commercialization. The article examines the extent to which this dynamic is adequately captured by notions of patronage, or whether subtle mutual dependencies are at work, as livelihoods are rebalanced between subsistence and commodity crops in remote border landscapes.     

Is a slowdown in agricultural productivity growth contributing to the rise in commodity prices?

A slowdown in the rate of agricultural productivity growth is thought by many observers to be contributing to the recent rise in agricultural prices. In this article I decompose sources of output growth in global agriculture into aggregate input and total factor productivity (TFP) components and examine whether productivity growth slowed substantially in the years leading up to the recent rise in commodity prices. Contrary to widely held perceptions, I find no evidence of a general slowdown in sector‐wide agricultural TFP, at least through 2006. If anything, the growth rate in agricultural TFP accelerated in recent decades. However, the results do show a slowdown in the growth of agricultural investment. Accelerating TFP growth largely offset decelerating input growth to keep the real output of global agriculture growing at about 2% per year since the 1960s. Regionally, however, agricultural productivity performance has been uneven. These findings have important implications for the appropriate supply‐side policy response to the current agricultural price crisis.     

The introduction of Entry Level Stewardship in England: Extension or dilution in agri-environment policy?

Agri-environment schemes were introduced in the mid-1980s. Their primary objectives have developed from initially aiming to hold back intensification towards stimulating environmental enhancement. The introduction of Entry Level Stewardship (ELS) in England represents a third stage in seeking to extend the coverage of schemes across the majority of agricultural land. This aims to influence land use along the whole of the intensive margin. The ELS offers a wide range of options for which farmers are awarded points. Selection of options equivalent to 30 points per ha in lowland areas entitles farmers to a payment of £30 per ha. By September 2007, 4.4 million ha had been entered into the scheme, equivalent to 47% of the agricultural area. From amongst the options on offer, 34% of points were for boundary options, 20% for intensive grass options, 16% for management plans and 13% for options taking arable land out of production. The choice of options varies across the country with a higher proportion of the agricultural area entered in the East. Entry into the scheme is associated with total agricultural area, cereals farming, larger farms, a lower proportion of area in Environmentally Sensitive Area and Countryside Stewardship schemes and grazing livestock numbers. While the ELS has introduced a large number of new entrants into agri-environment schemes, the extent of the environmental impact is uncertain. Given the large number of options available, it is likely that farmers will have chosen options that involve relatively little change and incur limited cost. At the same time, it would be surprising if the environmental gains were of the types most valued within local areas. The ELS approach implies that public goods provided from agricultural land should be paid for irrespective of what would have happened in the absence of the scheme. While this may be a fairer approach, it may also undermine the idea of land stewardship and imply that payments will continue to be required in the long term in order to sustain provision. The ELS does establish a framework within which incentives could be targeted to deliver specific benefits within particular contexts and suggestions are made as to how policy might be developed for this.     

From researcher to farmer: partnerships in integrated aquaculture—agriculture systems in Malawi and Cameroon

The potential for integrating aquaculture with agriculture has been widely recognized as a means of improving the use of inputs, diversifying output and economic opportunity, and enabling smallholder producers to maintain and strengthen livelihoods. This paper describes the outcomes of this approach and explains the extent to which it has been taken up and has led to sustained and self-generated capacity. Based in particular on experience in Malawi, Ghana and Cameroon, it also considers implications more widely in the region. The overall picture is that this is a partial and still emerging success story, linked as much with the social and economic drivers surrounding smallholder farmers as with the development support approach adopted.     

Spatial–temporal changes in grain input–output and the driving mechanism in China since 1985

Based on Chinese county-level statistic data, this paper reveals spatial–temporal distribution and changing of grain production, by studying gravity centres of grain input–output regions in China from 1985 to 2009. According to the grain output, per-capita grain consumption, and population, the surplus grain of 2864 counties from 1985 to 2009 was calculated. And the counties with surplus grain value greater than zero and smaller than zero were respectively defined as grain input regions and grain output regions; they were respectively analysed by using the model of grain gravity centre. We found that there are four periods of spatial–temporal changing of gravity centres in grain input regions, and five periods in all output regions. According to the moving path of the gravity centres of input–output regions, 1990 was the turning point of completely entering into ‘grain supply from north to south period’. Spatial–temporal changing of grain-sown area and the arable land was the main driving mechanism for the shift in grain input–output gravity centres. The change of spatial pattern of grain production influenced sustainability of grain production from three impacts. And two policy suggestions are put forward to promote the sustainability of grain production.

HIGHLIGHTS

Use the method of gravity centres to research the spatial–temporal changing of surplus grain from 1985 to 2009 in China.

Analyse the spatial–temporal changing and the driving mechanism of gravity centres of grain input–output from 1985 to 2009 in China.

1990 was identified as the turning point of completely entering into ‘grain supply from north to south period’.

Summarize the impact of the changes of spatial pattern of grain production on the sustainability of grain production and put forward two proposals.     

Economic performance in Latin America in the 2000s: recession,recovery, and resilience?

This paper examines Latin America’s economic performance in the last three decades with the objective of assessing whether it entered a new phase of strong and persistent growth with stabilization in the 2000s. Our analysis pays special attention to the changing roles of exports and investment as drivers of growth and to the region’s performance in the fiscal area, the composition and dynamics of foreign trade, investment and labour productivity. Our results indicate that, in general, the region has achieved important progress in macroeconomic matters, but it has failed to overcome major structural, long-term constraints linked to its balance of payments and to a lesser extent its fiscal performance. Unless these challenges are resolved, the region’s long-term growth will hardly be favourable.     

Land-use change in the ‘edgelands’: Policies and pressures in London's rural–urban fringe

Green Belt policies have helped to create chaotic landscapes at the rural–urban interfaces of the United Kingdom's largest cities. Their prime functions, to control urban sprawl and preserve an encircling green girdle to separate the urban from the open countryside, have created ‘edgelands’ that have been remarkably dynamic despite relatively strong controls on certain types of development. A detailed case study of one part of London's Metropolitan Green Belt, drawing upon analysis of planning registers, reveals long-term trends in land-use change linked to the development controls operated within the context of the Green Belt and the adjacent built-up area. This paper also outlines the history of the Green Belt policy in the United Kingdom (UK) and discusses recently proposed policy changes that have provoked ongoing debate about this form of control on urban sprawl and its consequences for the land use of Green Belts and the edgelands.     

Tempest in the Andes? Part 2: Peasant Organization and Development Agencies in Cotopaxi (Ecuador)

This paper, published in two parts, is an analysis of the links between the ‘agrarian question’ in the Ecuadorian Andes and the creation of a network of indigenous‐peasant organizations that became the backbone of the national indigenous movement. I explore the relations between agrarian change and social change, drawing on a monographic study carried out in Cotopaxi Province, in the central sierra of Ecuador, from the 1960s to the beginning of the twenty‐first century. In the first part, I emphasized how the transformations unleashed by the crisis of the hacienda regime marked a rupture that consolidated the dense organizational scaffolding in the rural milieu. In this second part, I examine how development agencies, especially non‐governmental organizations (NGOs), played a fundamental role in strengthening those structures (1980s and 1990s). The history of the Union of Peasant Organizations of Northern Cotopaxi (UNOCANC) is one such example: born from the struggle for haciendas, inputs from the development apparatus enabled the rise of local elites who turned the organization into one of the most militant in the country. In this paper, I draw attention to aspects seldom mentioned in the specialized bibliography, namely a detailed study of how peasant differentiation, the origins of which lay in hacienda hierarchies, and which was upheld in turn by the agrarian distribution, was accelerated by the actions of NGOs, which continued to favour those indigenous peasants with more power and economic resources. Thus, divergences were consolidated and internal fissures opened up in organizations that are at the root of the crisis of representation experienced by ethnic platforms in the Ecuadorian Andes today.     

Cheating? The Case of Producers’ Under‐Reporting Behavior in Hog Insurance in China

Information asymmetry exists in virtually every insurance setting. The institutional arrangement of hog insurance in China offers a unique opportunity to investigate the farmer's behavior of under‐reporting the actual number of finished hogs on one hand, and the insurer's efficiency in determining the actual numbers on the other. Using data on 444 hog operators synchronized from farm production survey and insurance records, results showed that farmers report on average 11.5% fewer hogs to the insurance company. The level of under‐reporting is positively associated with the size of operation. Farmers with longer farming experience and more conservative risk attitude report more accurately. The under‐report behavior is also partially attributed to a farmer's limited capacity of accurate estimation. Due to information barrier, the insurance company is only able to recover 18.6% of the under‐report at the indemnity payment stage. Results are robust after controlling for potential sample selection problems. It is suggested that technical supports, public programs and premium incentive designs in repeated insurance should be considered to promote more accurate reports.     

Will cotton make a comeback in Mali?

With the decline of cotton especially in the marginal cotton areas, farmers have been using more of the cotton‐financed inputs on the cereals. The cotton para‐statal company (CMDT) has made a virtue out of this recommending diversification for these regions. Following the world price spike in 2010, the Malian government responded with a substantial price increase for cotton in 2011 of 38% to rejuvenate the Malian sector. This article looks at the impact of this price policy in the cotton economy and the potential of new cereal technology and marketing strategy to raise incomes and facilitate the diversification. Given the importance of the marketing decision of selling later after the recovery of cereal prices from the harvest collapse, a discrete stochastic programming model was developed for three‐stage decision making. Then, the recent changes in the cotton economy and government fertilizer subsidies were analyzed along with the introduction of the new technology marketing of sorghum. Cotton and maize continue to dominate the economy but the combined sorghum technology marketing increases farmers’ incomes by 16% to 21% and eases the return to normal cotton prices, after the 2011 price spike, as well as the removal of the fertilizer subsidies.     

不仅要Made in China,还要Cultured in China——访上海证大投资集团董事长戴志康

穿一身深蓝色中衫的戴志康从满是古董和艺术品的办公室徐徐走出,回答记者的第一句话就是我是文化艺术产业的支持者,我不是单纯的艺术收藏者。进入证大投资集团的办公室,一出电梯门就看见金光灿灿的一张小桌子,围拢起来的椅子全是由开会的人型变形而成的。     

How poor are women in rural India?

The assessment of poor women in India as dependent and exploited regardless of poverty focused strategies is reflected in this review of relevant literature. The scholarly approaches to the problems of poor women involve redirection and expansion of resources to women (increase bank credit) through policy and institutional changes, and involve improving women's welfare through changes in class and gender hierarchies; both pertain to restructuring power groups. A little ascribed to belief is that the organization of women's numbers will empower women; the constraints are stated. There is also some argument over whether to design women-specific programs or integrate women into existing programs; some examples are given of successes and difficulties. The regionalization of poverty in eastern and central India is discussed. The growth of the poor has been among the landless, wage-dependent households. 9.6% of households (7.5 million) are headed by women. Women work fewer hours and at lower wage scales and have fewer employment opportunities. Lower earnings are coupled with differentials in demand for female and male labor in agriculture and a crowded labor market. There is a concentration of women in less visible, nonmonetary subsistence production and domestic work. Women are undercounted in employment studies. Women predominate in agricultural activity. Women's status is influenced by economic status, caste, and ethnic background. Domestic work increases status for women and households. The poorer households have greater labor force participation, particularly as wage laborers rather than unpaid family workers. Regional factors affecting rural household strategies are factors affecting the economy (topography, rainfall, climate) and the degree of development, plus sociocultural variables (kinship and religious beliefs which affect the social domain of women), and the degree of dependence on hired vs. family labor. There are sharp contrasts in the value and survival of women regionally. Female labor force participation is low in all regions; the nature and distribution of agricultural laborers is discussed followed by examples from 3 different regions (east, south, and north). The gender inequalities in access to basic needs are reviewed for sex ratio, mortality, and nutrition, and education. The preference is for gender-based policies targeting women.     

Who Will Feed China in the 21st Century? Income Growth and Food Demand and Supply in China

This study uses resource‐based measures to explore the evolution of China's demand and supply for food. China's dietary shift from plant to animal‐based foods, induced by its income growth, is likely to impose considerable pressure on agricultural resources. China's demand for food on this measure appears consistent with global trends, while China is an out‐performer on the supply side, producing much more food than its income level and land endowment would predict. China's current per capita income is in a range where consumption growth is high and in excess of production growth, but the gap between supply and demand is likely to diminish as population and per capita consumption growth decelerate. Continuing agricultural productivity growth and sustainable resource management will be important influences on the growth of China's future net import demand for food.