Farmers’ Preferences for New Environmental Policy Instruments: Determining the Acceptability of Cross Compliance for Biodiversity Benefits

This paper addresses the issue of farmers’ views concerning the perceived legitimacy of environmental cross compliance as a governance mechanism. Recent work on the theory of regulation emphasises the importance of the legitimacy ascribed to a regulation in determining the effectiveness with which it can be implemented. The current study outlines a rationale for why this motivational question should receive attention in economic studies of policy design and reports the results of a survey of 102 arable farmers in East Anglia, UK, which investigated the level of support for the principle of cross compliance for biodiversity objectives. It was found that two attitudinal factors, referred to as ‘Stewardship Orientation’ and ‘Technological Beliefs’, were by far the most significant in determining the acceptability of cross compliance in the sample, and that structural and socio‐demographic factors were considerably less important. The study also identified clusters of farmers according to their overall attitudinal orientation. Of the five groups thus categorised, four appeared on average likely to reject cross compliance as a general principle, leaving only the most ‘Environmental’ cluster in support. The policy implications are discussed and some conclusions drawn.     

Inflation and growth in South Africa

This paper studies the relationship between inflation and growthin South Africa. Two main issues are addressed: do tests ofthe South African data support the findings of cross-sectionstudies that inflation has a negative effect on growth overthe longer term? and, can higher growth be gained at the costof higher inflation in the short run? The findings are thatinflation drags down growth in South Africa over the longerterm, and that, in the short run, growth above its trend requiresaccelerating inflation. Thus, for growth to be pulled substantiallyabove its present low trend, inflation targeting in South Africawould have to be abandoned. However, this would be counterproductiveover the longer term, once the negative relationship betweeninflation and growth manifests itself.     

Pierce and Haugh on characterizations of causality: A re-examination

This paper amends the set of equivalent necessary and sufficient conditions under which y does not cause x, provided by Pierce and Haugh (1977).     

Improving Statistics on International Migration in Asia

International migration has reached unprecedented scale, diversity and political, economic, social and demographic significance in Asia over the last decade. Despite this data collection of migrant stocks and flows remains very limited in most Asian countries. Accordingly, policy making on migration in the region lacks an evidence base and is influenced by interest groups, anecdotal evidence and prejudice. This paper argues that the heightened security consciousness since 911 together with the development of efficient computer based collection and analysis of migration data systems has created a propitious environment for bringing about a parametric improvement in data collection on international migration in Asia. A number of suggestions are made in this regard, especially the inclusion of relevant international migration questions in the 2010 round of population censuses.     

Sensitivity Analysis And Schemes Of Arrangement

Formal mathematical techniques are being used increasingly as aids to commercial decision-making. We propose that those deciding whether to liquidate or trade-out should, as a matter of course, have sufficient information to enable sensitivity analysis on any forecast returns. Sensitivity analyses are notably lacking in documentation used for predicting the outcomes of schemes of arrangement such as the complex Estate Mortgage Trusts (EMT) moratorium on the withdrawal of funds by unitholders. This article details the outcomes of some schemes of arrangement in Australia in the 1960s and 1970s and discusses the EMT moratorium. The moratorium procedures provide the setting and data for simulations and sensitivity analyses. Coupled with the evidence provided by Dean (1977, 1983) and Aitken (1981), this suggests a need for information on the expected timing of payouts to enable sensitivity analysis whenever a scheme involves delayed distributions.     

Price‐cap regulation and the scale and timing of investment

This article shows how scale economies affect regulated firms’ investment behavior and welfare‐maximizing regulation of price and quantity. Regulated firms invest in smaller, more frequent, increments than social planners, with greater investment distortions the greater the economies of scale. Regulators cap prices at lower levels than planners when economies of scale are moderate, and at higher levels when they are substantial. When quantity is also regulated, the average cost of building capacity increases but the price cap decreases. Immediately after firms make their initial investment, regulators want to transfer surplus from customers to shareholders by raising the price cap to induce additional investment.     

Political parties' use of web based marketing: some preliminary findings relating to first‐time voters in the 2005 general election

• This paper examines the marketing of political parties, via websites, in the 2005 UK general election with specific reference to first‐time voters (age 18–24). Common perception views young voters as predominantly politically apathetic and less likely to vote than older generations. However, research literature suggests given the right message and medium, the group will engage in the political process. Could the Internet provide a path to engaging younger voters and will websites become a key marketing vehicle for political parties?
• Young voters were asked to review political party websites using an extended web assessment method (EWAM), which is an evaluation tool created to determine both the importance and presence of website evaluation criteria. Preliminary research suggests that respondents felt the Internet had a significant role to play in the election process and marketing of campaign messages. However, while political parties scored well in relation to the technical/software aspects of website design, participants felt website material had little appeal and were ineffective in influencing voter intent.

Copyright © 2006 John Wiley & Sons, Ltd.