Estimating overall returns to international agricultural research in Africa through benefit-cost analysis: a "best-evidence" approach

This study offers a "best evidence" approach to summarizing recent benefit-cost analyses of international agricultural research in Africa. First, from an extensive literature review and the resulting global inventory of impact studies, 23 studies are identified that calculate aggregate rates of return for Consultative Group on International Agricultural Research (CGIAR) and partner investments in Sub-Saharan Africa (SSA). These studies are then appraised against a review framework consisting of principles, criteria, and indicators for study rigor. Subsequently, the economic benefits reported by studies grouped on the basis of its analytical rigor are aggregated and set against total investment by the CGIAR and national agricultural research systems to determine if the total investment to date can be justified by documented benefits under a range of assumptions. As a result, the study finds that aggregate investment is justified under a fairly wide range of suppositions. Under all scenarios, the vast majority of documented benefits stem from a relatively limited array of activities with a majority of benefits stemming from biological control (80%). Close to 20% of total benefits result from crop genetic improvement, and less than 1% result from all other activities. The implications of these results for research investment strategies in SSA and impact assessment are discussed.     

Modeling beef supply response and price volatility under CAP reforms: The case of Greece

This study examines the supply response of the Greek beef market and the possible effect of the European Union’s Common Agricultural Policy (CAP) on the Greek beef sector during the period 1993–2005. A Generalized Autoregressive Conditional Heteroskedasticity (GARCH) process is used to estimate expected price, and price volatility, while several different symmetric, asymmetric and non-linear GARCH models are estimated. The empirical results show that price volatility and feed price are important risk factors in the supply response function, while the negative asymmetric price volatility that was detected implies that producers have a weak market position. Furthermore, the empirical findings confirm that the annual premium paid by the EU to beef producers had a positive impact on the production level and also, the change of the EU price support regime, after 2006, is having negative effects on beef production level in Greece.     

Re-examining the “twin deficits” hypothesis: evidence from Australia

This paper re-examines the relationship between fiscal imbalances and net foreign borrowing. A general analytical approach is first developed which suggests that, other things equal, a rise (fall) in any advanced economy’s fiscal deficit should be fully matched by a rise (fall) in its net foreign borrowing, in accordance with the so-called twin deficits hypothesis. In the case of Australia, one of the world’s largest foreign borrower economies for its size, empirical estimation yields the novel result that Australia’s consolidated budget imbalance and its foreign borrowing were approximately twinned on the basis of quarterly data for 1983–2009, when Australia’s exchange rate floated and international capital mobility was high. This result is consistent with the conceptual framework and suggests that fiscal policy is likely to be ineffective as an instrument for influencing the real economy.     

European Market Reaction to Audit Reforms

Abstract

This paper investigates European stock market reaction to events associated with the proposed EU audit reforms that were ultimately implemented in 2016. These include, inter alia, mandatory audit firm rotation, prohibition of non-audit services, and fee caps. We find that investors react positively to the proposals, lifting aggregate market value by approximately €108,630 million. In cross-sectional analysis at both country and firm level, we find that these net benefits arise from the prohibition of non-audit services and the placing of a cap on total fees charged by the auditor. Furthermore, we find investors in firms with low earnings quality appear to perceive the greatest benefits from the proposed reforms.     

Revisiting the difference between mixed methods and multimethods: Is it all in the name?

The literature on mixed methods and multimethods has burgeoned over the last 20 years, and researchers from a growing number and diversity of fields have progressively embraced these approaches. However, rapid growth in any movement inevitably gives rise to gaps or shortcomings, such as “identity crises” or divergent conceptual views. Although some authors draw a clear and sometimes opinionated distinction between mixed methods and multimethods, for others, they are synonymous. The concepts underlying both terms therefore have become blurred and generated much confusion. The aim of this article is to explore the origins of the confusion, describe our view of mixed methods and multimethod studies, and by doing so, help to clearly delineate the two concepts. The authors have presented their opinion of how these terms and concepts should be distinguished and call for a constructive debate of the issues involved in the mixed methods and multimethod literature. This is a way truly to propel the field forward.     

Annual and cropping season environmental production conditions effects on smallholder technical efficiency in sub‐Saharan Africa: Evidence from Ethiopia

This article investigates the impact of environmental production conditions on smallholder farmers’ technical efficiency in Ethiopia for wheat, maize, and sorghum farming. We use a household panel data set with annual and cropping season environmental production conditions to estimate the technical efficiency scores. The results show that including environmental production conditions in the stochastic frontier has a significant impact on farmers’ technical efficiency scores. Technical efficiency scores improve when environmental production conditions are incorporated in the stochastic frontier. Thus, accounting for environmental production conditions reduces the inefficiencies that otherwise may be attributed to the characteristics of smallholder farmers.     

Residents’ perceptions on the traffic impact of a special event: a case of the Macau Grand Prix

Special events may cause significant disruptions to the community and affect the daily lives of the local residents. This study examines how local residents perceive the traffic impact of a major tourism event, the Macau Grand Prix, which is an annual event that takes place on a circuit around the streets of the city, Macao. An exploratory factor analysis reveals five factors regarding the traffic impacts of the event, and the residents of different transportation modes have distinct views on the traffic measures. Bus transit and pedestrian traffic management is found to be the most effective. The result provides the event organizer implications and assessment for the traffic planning and management measures in gaining support from the community.     

Exploration-exploitation tradeoffs and information-knowledge gaps in self-regulated learning: Implications for learner-controlled training and development

Learning in modern organizations often involves managing a tradeoff between exploration (i.e., knowledge expansion) and exploitation (i.e., knowledge refinement). In this paper, we consider the implications of this tradeoff in the context of learner-controlled training and development. We then propose a model that integrates research on control theory, curiosity, and skill acquisition to explain how information knowledge gaps (i.e., gaps between what learners believe they know and what they desire to know) guide resource allocation decisions throughout the learning process. Using this model, we present testable propositions regarding (a) the different approaches learners take when resolving exploration-exploitation tradeoffs, (b) how systematic changes in learner perceptions translate into changes in systematic learner behavior, and (c) how common biases in key learner perceptions can undermine the functioning of self-regulated learning in training and development contexts. We finish with a discussion of the model's implications for the science and practice of training and development.     

Ethnic entrepreneurship,initial financing,and business performance in China

Small Business Economics - Access to external financing is a major obstacle for starting a new business across various country contexts. Ethnic minorities, in particular, tend to face more extreme...