FARMERS' ATTITUDES TO RURAL ADJUSTMENT ASSISTANCE: RESULTS OF A SURVEY IN JEMALONG SHIRE,N.S.W.*

The Australian Government has provided adjustment assistance to the rural sector since 1970 under several schemes. The demand for assistance has been lower than expected, given the alleged size of the problem, particularly for the 'welfare' oriented provisions. The results of a survey of farmers' attitudes to the current Rural Adjustment Scheme are examined in an attempt to explain this phenomenon. Measures designed to ease financial difficulties or to facilitate on-farm adjustment were much preferred to those designed to assist farmers to leave agriculture. Considerable confusion about the scheme was evident and many farmers thought that information about the scheme was inadequate. Better extension and counselling is suggested to improve information flows to farmers. The formulation of a more structured set of eligibility criteria is also suggested to reduce the complexity and uncertainty which farmers face when they are considering lodging an application for assistance.     

Factor prices may be constant but factor returns are not

Welfare effects of a distortion introduced in a ‘small’ region, country or industry are not limited to allocations within that domain. They may be large, and undiminishing, even though the area considered is very close to satisfying the idealized prerequisites for partial equilibrium analysis.     

Spot rates,forward rates and exchange market efficiency

This paper examines the relationship between forward exchange rates and subsequently observed spot rates. No evidence is found for a liquidity premium on forward exchange, indicating that the forward rate can be used as a proxy of the market's expectations and that open exchange positions involve little systematic risk. It is also shown that forward exhange is priced as if the exchange rate could be characterized by a diffusion process with a trend, although there is some evidence such a process does not adequately characterize the exchange rate in all cases.     

Hyperfiliation and cultural citizenship: African American consumer acculturation

The experiences of African American expatriates in South Africa are explored to explain how acculturation in circumstances of hyperfiliation influences cross-cultural consumption for the purposes of performing cultural citizenship. The acculturation sub-processes of revision, restoration, and retroversion are analyzed to examine the ways in which social capital is mobilized in citizenship projects. These aspects of expatriate experiences are unpacked, theoretical implications are identified, and managerial implications are discussed.