The Effectiveness of Antidumping Measures: Some Evidence for Farmed Atlantic Salmon

Counterfactual simulations of a partial equilibrium model of the world salmon market suggest safeguard tariffs imposed by the European Commission on salmon imports from Norway, Chile, and the Faroe Islands would do more to punish producers in the named exporting countries than to reward United Kingdom producers. The reason is that export supply is less elastic than import demand on a bilateral basis, which means that most of the tariff's incidence is borne by the targeted producers rather than EU consumers. The incidence problem is exacerbated by the feed quota (now biomass limit) that Norway uses to limit its production. A marketing fee that expands market demand is shown to be less distortionary than its tariff equivalent, and thus may be preferred from a second‐best perspective.     

EFFECTS OF NON-PRICE EXPORT PROMOTION: SOME EVIDENCE FOR COTTON*

An Annington-type trade model is estimated to determine the effects of government-subsidized export promotion on the demand for U.S. cotton in the Pacific Rim. Results show a significant relationship between promotion expenditures and U.S. market share in four of the six countries examined. One of the two countries exhibiting a non-significant effect had very low promotion expenditures, suggesting that a minimal level of funding may be necessary to achieve a market response. The hypothesis that export promotion has a carryover period lasting beyond one year in general is supported by the data. The question of the economic impacts of export promotion on domestic producers and taxpayers must await additional research.     

Capital Flight from Beautiful Places: the case of three Caribbean countries

This paper examines capital flight from Barbados, Jamaica, and Trinidad and Tobago, for the period 1971–87. A simple OLS model is used to investigate econometrically the causes of Caribbean capital flight. External debt, real interest rate differentials and the level of social instability are found to be significant causes of capital flight.     

Potential Payoff from R&D in the Coconut Industry of North Sulawesi, Indonesia

The coconut industry of North Sulawesi, one of the primary coconut-producing provinces of Indonesia, is dominated by a small number of products that are primarily exported overseas. As they only comprise a small share of the global coconut product export market, demand for coconut products from North Sulawesi is generally very elastic. Conversely, the supply of coconuts is highly inelastic, especially in the short to medium term. Hence, small shifts in supply and demand lead to large fluctuations in farmer incomes. In this context, an equilibrium displacement model is used to examine the intra-industry consequences of R&D investments in farm productivity and product development. These investments are assessed in terms of the producer surplus benefits that they generate.     

OPERATIONAL ACCOUNTING FOR FARM MANAGEMENT

The accounting system of the Farm Management Service Laboratory of Western Australia is discussed. As a point of reference it uses the system approved by the National Workshop on Standardization of Terminology and Procedures in Farm Management Accounting in Australia. The Laboratory's system is expressly designed to provide a continuous flow of information to the farmer for his control, understanding and evaluation, planning and budgeting, and enhancing credit-worthiness.     

Accounting for Environmental Services: Contrasting the SEEA and the ENRAP Approaches

Both the System of Integrated Environment and Economic Accounting (SEEA) and the Environmental and Natural Resources Accounting Project (ENRAP) are efforts to expand conventional national economic accounts in order to better reflect interactions between the market economy and the natural environment. In order to maintain a close relationship to the System of National Accounts (SNA) accounting standards, SEEA adopts conventional definitions of productive sectors. However, SEEA fails to account for many valuable services of the natural environment and encourages the use of techniques that provide misleading and poor estimates of depreciation and damage to the environment. ENRAP addresses these deficiencies by explicitly recognizing that the natural environment is a productive economic sector. ENRAP encourages the use of imputation approaches that draw on techniques common in the environmental economics literature. These approaches are consistent with definitions of depreciation and environmental damage widely accepted in economic theory. The principles that underlie the ENRAP approach provide a basis for contrasting ENRAP and SEEA empirically. Using Philippine data, SEEA-type estimates are compared with those of ENRAP.     

Hope,hopelessness, and coping: A framework for class‐distinctive cognitive capital

Evidence that a variety of psychological dispositions vary systematically with social class has been reported in the marketing literature over the last 50 years. However, recent work has been extremely limited. Research progress has been stifled because of poor conceptual specification and lack of an integrative framework capable of grounding these dispositions in theory. This article draws upon the psychology of coping—specifically harnessing hope/hopelessness theories—to develop a much‐needed framework. This will facilitate clear conceptual specification of the psychological dispositions where social class distinctions have been proposed, and specify the relations between each of the dispositions. The term cognitive capital is introduced to capture the idea that one's mix of psychological dispositions operates as a system that can be thought of as an important type of resource that is gradationally distributed with social class level. This cognitive‐capital system impacts life chances and quality‐of‐life outcomes via the predominant pattern of coping responses that are employed in dealing with the many adversities, threats, and challenges that life typically presents. The framework provides academics with a vehicle to progress understanding of these psychological phenomena, marketing communicators with an enriched picture of class‐based distinctions, and public policy makers with an understanding of levers that contribute to social inequality. © 2004 Wiley Periodicals, Inc.     

EXCHANGE RATE RISK AND EXPORT REVENUE IN TAIWAN

Abstract. The effect of exchange rate risk on export revenue in Taiwan between 1979 and 2001 is investigated in a bivariate GARCH-M model that simultaneously estimates time-varying risk. Depreciation is found to stimulate export revenue in domestic currency, but the quantitative impact is small and any associated increase in exchange risk has a negative impact. Implications for economic policy are discussed.