Resource Extraction Industries in Developing Countries

Over the last one hundred and fifty years, the extraction and processing of non-renewable resources has provided the basis for the three industrial revolutions that have led to the modern economies of the developed world. In the process, the nature of resource extraction firms has also changed dramatically, from small-scale operations exploiting easily accessible deposits to large, vertically integrated, capital intensive transnational corporations characterized by oligopolistic competition. In the last ten to fifteen years, coinciding with processes of economic globalization, another major change has been occurring as resource extraction industries have been shifting their operations from developed to developing countries. This shift has greatly impacted the populations of these countries and raises a variety of ethical issues. This article investigates the nature of these changes and the ethical issues that arise, focusing in particular on the development impact of the activities of these industries and the potential adequacy of different policy approaches to regulating them.     

Yield effects of agricultural cooperative membership in developing countries: A meta-analysis

This study uses a meta-analysis to synthesize the effects of agricultural cooperative membership on the yield of crops and livestock. It collects 158 estimated yield effects from 42 studies, covering 19 developing countries. Our analysis finds evidence that there exists positive publication bias in the empirical literature, confirming that researchers and journals have a preference to publish articles that report positive and significant results. After correcting for publication bias, we find that cooperative membership has a small-sized and insignificant effect on the yield. The meta-regression analysis reveals that variation in the reported yield effects can be largely explained by the study attributes such as the sample type (full sample vs. subsample), membership ratio, econometric approaches (instrumental-variable based parametric approach, non-parametric approach or ordinary least square regression), effect size types (average treatment effects on the treated, average treatment effects, or coefficient), agro-product type (grain or others), and climate zones (tropical or non-tropical).     

Preventing bank panics: The role of the regulator's preferences

How do the preferences of a banking authority affect its decision making in periods of distress and thus financial stability? We study this question in a version of Diamond and Dybvig (1983) with a monopolistic bank and a time-consistent policy response by a banking authority. We show that limited commitment on the part of the banking authority may induce fragility but the banking authority's incentives are also an important determining factor in the degree of financial stability. In particular, under a simple suspension scheme, delegating a banking authority who places sufficient weight on a banker's welfare acts as a commitment device and prevents runs, in analogy with how a Rogoff (1985) “conservative” central banker helps reduce inflation bias. In contrast, once interventions take the form of payment rescheduling, the scope for the bank's susceptibility to a panic increases should the banking authority put more weight on monopoly rents. Identifying such an aspect of vulnerability suggests that appointing a banking authority whose objective function deviates from that of depositors may have unintended consequences.     

Eldercare and job productivity: An accommodation analysis

Over the next decade, the number of working adults relegated to the role of caregiver for one or more elderly family members will rapidly surge. The emotional, physical, and financial stress of caregiving has already begun to impact the productivity of the employee elder caregiver in the workplace, with estimates placing the annual costs around $30 billion. We can expect costs to grow as workers and their elderly parents continue to age. This particular study addresses the fundamental research question of what affects the job performance of employee elder caregivers. The results support the conclusion that the relationship among caregiving, personal support, organizational accommodation, and job productivity is multidimensional. Organizations attuned to the demands of elder caregiving can work with affected employees to reduce or eliminate declines in job productivity. Future researchers and practitioners can reconsider their research protocols and interventions along a wide continuum of interactions in the employee's home and workplace environments.