Structural transformation and productivity growth in India during 1960–2010

In this paper, we examine the role of structural change and sectoral productivity growth in explaining the aggregate productivity of India relative to the United Sates during 1960–2010. We set up a simple two sector general equilibrium model and calibrate it to fit the structural transformation of United States. Our calibrated model for India highlights the relative importance of agricultural productivity growth in explaining its slow process of catching up in terms of aggregate productivity. We show that India could have progressed at a much faster rate and closed a substantial part of its aggregate productivity gap if its agricultural sector had grown at a rate at par with the United States. It is India's relative productivity growth in the non-agricultural sector that explains all the recent success in its closing the aggregate productivity gap with the United States. We also found that an elimination of relative distortion in agriculture in India could result into a modest improvement in the aggregate labour productivity.     

Blockchain for tracking serial numbers in money exchanges

Money exchange is one of the most common day‐to‐day activities performed by humans in the daily market. This paper presents an approach to money tracking through a blockchain. The proposed approach consists of three main components: serial number localization, serial number recognition, and a blockchain to store all transactions and ownership transfers. The approach was tested with a total of 110 banknotes of different currency types and achieved an average accuracy of 91.17%. We conducted a user study in real‐time with 21 users, and the mean accuracy across all users was 86.42%. Each user gave us feedback on the proposed approach, and most of them welcomed the idea.     

Good global citizen? ASEAN’s image building in the United Nations

ABSTRACT

Based on role theory, the article examines the images that ASEAN member governments project of their organization. It rests on a discourse analysis of 198 speeches in the United Nations General Assembly between 1998 and 2017. Findings suggest that ASEAN does not figure as a top priority for delegates and that an overarching ASEAN role conception is missing. However, their addresses reveal parameters on which a collective role conception can be built. Individual ASEAN countries undertake great efforts to project themselves as ‘good global citizens,’ a role conception that could also be applied to ASEAN.     

To Trust or Not to Trust? Consumer Responses to Cause-Related Marketing

Abstract

The purpose of this study is to understand if company trustworthiness and the type of cause-related marketing (CRM) campaigns (strategic vs. tactical) affect purchase intention and company image of a yogurt producer, under the control of socially responsible consumer behavior, general trust, income, attitude toward the CRM campaign, and initial company image. The study applies a quantitative (experimentation) research to test the proposed model. MANCOVA was applied with data obtained from 600 respondents who were selected by a two-stage cluster sampling method. The research model is partially supported. Company trustworthiness and CRM type are found to affect only company image and without any interaction effect. Being a highly trustworthy company applying a CRM campaign has more positive influence on company image than a less trustworthy one. Additionally, a strategic CRM campaign creates more positive influence on company image than a tactical one. The findings are further deliberated with the managers of the two selected companies with focus group discussions.     

Fire sales by euro area banks and funds: What is their asset price impact?

The assets under management of investment funds have soared in recent years, triggering a debate on their possible implications for financial stability. We contribute to this debate assessing the asset price impact of fire sales in a novel partial equilibrium model of euro area funds and banks calibrated over the period between 2008 and 2017. An initial shock to yields causes funds to sell assets to address investor redemptions, while both banks and funds sell assets to keep their leverage constant. These fire sales generate second-round price effects. We find that the potential losses due to the price impact of fire sales have decreased over time for the system. The contribution of funds to this impact is lower than that of banks. However, funds’ relative contribution has risen due to their increased assets under management and banks’ lower leverage and rebalancing towards loans. Should this trend continue, funds will become an increasingly important source of systemic risk.     

Could virtual reality effectively market slow travel in a heritage destination?

A recent trend in tourism research involves the application of high technology in marketing practices such as virtual reality (VR), cell phone apps, and new media. Among these, VR is the most novel. In 2016, Discovery Travel created TRVLR, which includes all seven continents. Even earlier, specific tourist destinations were providing VR content about their respective locales. These venues expose potential tourists to tourist locations by immersing them in a visceral, 360-degree storytelling setting. However, while VR has gradually grown in popularity in the tourism industry, the marketing effects have been infrequently studied by academia. This research asked participants to view a VR presentation of a famous 700-year-old Chinese painting, and investigated viewers' nostalgia and ST travel intentions. Information was collected from 308 samples at certain popular tourist destinations around Fuzhou in the Fujian Province of China, and Taipei and Taoyuan in Taiwan. Structural equation modeling was then used to analyze the collected data and test the hypotheses. The findings indicate that VR is a very useful tool for encouraging respondents to travel to Jinan in a slower and more intensely observational manner, significantly arousing their sense of nostalgia and leading to a strong intention to ST to Jinan. This research provides important insights into how this new technology might function as a tool for marketing Jinan, a tier-two but historically important destination in China. The implications of these findings are important to understanding the associations for potential tourists among VR use, destination marketing, and travel intention, particularly when the object city is relatively unknown.     

Designing and evaluating sustainable development pathways for semi‐subsistence crop–livestock systems: lessons from Kenya

Achieving the Sustainable Development Goals (SDGs) in African agriculture requires a better understanding why high levels of poverty and resource degradation persist in African agriculture despite decades of policy interventions and development projects. In this article, we hypothesize that policies need to account for the key features of the semi‐subsistence crop–livestock systems (CLS) in the region to become effective. The semi‐subsistence CLS are characterized by a high degree of biophysical and economic heterogeneity and a complex, diversified production system involving a combination of subsistence and cash crops with livestock. We investigated the potential for interventions proposed by the Government of Kenya to meet the SDGs by 2030. The analysis uses an integrated modeling approach designed to deal with the key features of these systems. A strategy that stimulates rural development, increases farm size to a sustainable level, and reduces distortions and inefficiencies in input and output markets could lead to a sustainable development pathway and achieve the SDGs for rural households dependent on CLS.     

秦始皇形象论略

《史记》记载秦始皇"蜂准",或作"隆准",北宋《太平御览》引《史记》有关秦始皇形象描述的文字中,有一处作"綘准","蜂"和"綘"皆应读作"豐","豐准"、"隆准"皆指大鼻;历史上没有留下秦始皇的图像,当今中学历史教材中的秦始皇图像是后人推演的作品,采用时应作适当说明.     

Linking the dots among destination images,place attachment,and revisit intentions: A study among British and Russian tourists

Limited evidence suggests that the incorporation of both image components (cognitive, affective, and conative) and holistic image is meaningful for predicting tourists' revisit intentions. Extending this line of research, the present study aims to unravel the relative influence that each component of image has directly and indirectly, via holistic image, on revisit intentions. In doing so, we incorporate two national samples (British and Russians) of diverse tourist profile and significantly different levels of visitation frequency to investigate place attachment as a moderator. Evidence from 1362 British and 1164 Russian tourists indicated that all image components have a positive indirect effect on revisit intention via holistic image, while conative has also a direct one. As expected, the image components rank differently for British and Russian tourists. The indirect effects of destination images on revisit intention, except conative, are conditional and, interestingly, most of these are stronger for tourists with low PA.     

Infrastructure development for alternative fuel vehicles on a highway road system

A new mathematical model for positioning alternative fuel (AF) refueling stations on directed-transportation networks with the objective of maximizing the coverage of path flow volume is proposed. This model is especially designed for developing an AF infrastructure on toll roads and other highways, where vehicles do not need to exit the road network for refueling, some candidate station locations are not located at interchanges, and some stations may only service vehicles on one driving direction. The proposed model is applied to the Pennsylvania Turnpike System using the 2011 truck traffic data and considering different vehicle driving ranges.