Government investment in natural capital

This paper presents a new approach to the measurement of natural capital. A distinguishing feature of this approach is the use of investment criteria that are consistent with the main features of physical capital, thus maintaining consistency in the measurement of different types of capital. This new approach was applied to the expenditures of the federal government in Canada as recorded in the Public Accounts for fiscal year 2004-05. My results indicate that, in 2004-05, total investment in natural capital by the federal government amounted to 2.6% of net budgetary expenditures. Spending on physical capital, the only component that is currently included as investment in the National Accounts, represented only 5% of total investment in natural capital.     

Is the Grass Greener? Switching Costs and Geographic Proximity in the High Status Affiliations of Professional Baseball

Professional baseball operates a tiered system of talent development facilitated by alliances between Minor League Baseball (MiLB) clubs and higher status Major League Baseball (MLB) parent teams. This study applies management theory to advance the literature on MiLB demand modeling by proposing and testing a new set of demand determinants based on interorganizational alliance principles. Team executives at the AA level should be alert to the high cost of switching team alliances and of changing to a parent club in closer geographical proximity. At the AAA level, affiliation with a winning MLB club exerts a positive effect on AAA demand. Copyright © 2015 John Wiley & Sons, Ltd.     

The economics of managing carbon via forestry: Assessment of existing studies

The purpose of this paper is to assess the existing studies on the economics of using forests as a means of mitigating atmospheric carbon build-up. This assessment addresses conceptual and empirical issues and provides a basis for a comprehensive and cost efficient forest management strategy. Critical needs and opportunities for future research are identified.     

Bank Regulatory Agreements and Real Estate Lending

Recent studies have found that banks with low capital ratios have significantly decreased their lending to the real estate sector. This correlation between real estate lending and bank capital could be the result of voluntary decisions by banks to recapitalize, or it could be the result of direct actions taken by bank regulators. We find that banks with low capital ratios reduce their real estate lending substantially more after formal regulatory actions have been initiated by regulators. Furthermore, this reduction in lending is particularly large for the categories of real estate borrowers most likely to be bank dependent.     

Ultrasound technology for better beef price

Sluggish growth in per capita consumption and a downward pressure on beef price at the farm level has required producers to raise cattle that precisely target the meat attributes desired by consumers. Coupled with the consumers' preference for beef with lean tissue and less external fat, the beef packing plants have used the dualistic grading system that emphasizes leanness and palatability; both important to carcass prices. Ultrasound technology can help farmers to produce a carcass with an optimal mix of attributes such as marbling and muscling, and external fat. The results of this study show a high level of accuracy of ultrasound technology in predicting carcass attributes. An estimated hedonic regression model shows that the carcass attributes are reflected on the implicit beef price. Ultrasound technology helps producers to produce carcass with the desired attributes and thus obtain a higher price.     

Racial differences in unemployment: A spatial perspective

Conclusions It has been demonstrated that racial differences in unemployment in the nation’s largest metropolitan areas are widespread. The differences tend to vary, however, by region with the greatest difference occurring in the metropolitan areas of the North-Central region and the least difference occurring in the metropolitan areas in the West.     

Strategies for understanding and changing local revenue policies and practices in Ghana's decentralization programme

The 1971 Local Administration Act is the basis for Ghana's attempt to decentralize development planning and budgeting from the centre in Accra to the 68 districts of Ghana. The Act allows District Councils to collect numerous revenues and to retain them as a financial base for implementing District development projects. In 1977 the Economic and Rural Development Management training programme was initiated to help improve revenue collection and the development planning and budgeting capacity of elected officials and civil servants at the district level. Participants worked in teams to determine the potential district revenue base for decentralized development planning, to understand local behavioural patterns in the revenue collection process, and to recommend procedures for improving district revenue administration. The training programme has resulted in dramatic improvements in district government revenue policies and practices leading to a larger financial base for the funding of projects identified and designed locally. Data indicating the positive impact of the training programme for improving local revenue are provided for Techiman District.