Will African Agriculture Survive Climate Change?

Measurement of the likely magnitude of the economic impact ofclimate change on African agriculture has been a challenge.Using data from a survey of more than 9,000 farmers across 11African countries, a cross-sectional approach estimates howfarm net revenues are affected by climate change compared withcurrent mean temperature. Revenues fall with warming for drylandcrops (temperature elasticity of –1.9) and livestock (–5.4),whereas revenues rise for irrigated crops (elasticity of 0.5),which are located in relatively cool parts of Africa and arebuffered by irrigation from the effects of warming. At first,warming has little net aggregate effect as the gains for irrigatedcrops offset the losses for dryland crops and livestock. Warming,however, will likely reduce dryland farm income immedia-tely.The final effects will also depend on changes in precipitation,because revenues from all farm types increase with precipitation.Because irrigated farms are less sensitive to climate, wherewater is available, irrigation is a practical adaptation toclimate change in Africa.     

New evidence on shareholder wealth effects in bank mergers during 1980-2000

This paper employs two unique bank event study methodologies to calculate abnormal returns for bidder, target and combined firms. The first methodology is a modified market model that controls for shocks common to the banking industry. The second is an EGARCH (1, 1) model that adjusts for the violated regression assumptions of the traditional market model event study. The results of both methodologies reveal that target shareholders enjoy significantly positive abnormal returns, whereas the bidder shareholders experience significantly negative abnormal returns. Overall, announcements of bank mergers generate positive wealth effects for the combined shareholders. However, the evidence presented in this paper underscores the importance of the choice of models describing stock returns in examining the impact of bank mergers.     

Governance Matters and Entrepreneurial Activities

This study uses Global Entrepreneurship Monitor (GEM) and World Bank Group Entrepreneurship Survey data from 40 countries from 2002 to 2008 to examine the linkage between governance matters and entrepreneurial activities. Based on the conceptual model of GEM and by using fixed‐effects panel analysis, the results show that political stability and absence of violence, rule of law, and control of corruption are highly significant determinants of entrepreneurial activities. © 2012 Wiley Periodicals, Inc.     

The Impact of Risk-Based Premiums on FDIC-Insured Institutions

This paper examines the effect of a series of announcements leading to the approval of risk-based deposit insurance premiums on returns to stockholders of commercial banks. Utilizing risk-weighted capital ratios and measures of overall risk, we group banks according to one of the nine-tier insurance categories subsequently defined by the FDIC. During the period in which the new insurance system was considered and approved, we found that stockholders of well-capitalized, healthy banks experienced wealth changes significantly different from those experienced by less than well-capitalized, less than healthy banks. Although many argued the premium range in the initial insurance schedule was insufficient, the results show that this initial risk-basing marked an important change in the relative burdens imposed by FDIC insurance.     

Off-balance sheet activities and bank default-risk premia: A comparison of risk measures

This paper examines the market discipline of off-balance sheet activities on the default-risk premia of subordinated bank debt. The standard approach for determining whether market prices of subordinated debt reflect the risk of default is to regress the yield spread against accounting measures of bank risk. This approach may be inadequate because yield spreads are neither linear nor monotonic functions of bank risk. Moreover, the standard approach fails to consider that banks are regulated. This paper compares this approach and one where risk is measured with a contingent claims pricing model. Observed yields on subordinated bank debt over equivalent maturity treasuries are used to compute implied asset variances. OBS banking activities appear to reduce both linear risk-premia and implied asset variances. These results suggest that bank regulators may be overly concerned with the risk exposure of off-balance sheet banking activities.     

Effects of COVID-19 in E-learning on higher education institution students: the group comparison between male and female

Quality & Quantity - In response to the emerging and ever solution to the COVID-19 outbreak. This study proposes a theoretical framework based on literature and model to determined E-learning...     

The 1994–1995 Mexican Currency Crisis and U.S. Bank Stock Returns

We investigate the impact of the 1994–1995 Mexican currency crisis on U.S. bank stock returns. We use a jump-diffusion model rather than a pure diffusion model to describe daily stock returns, because the public release of unexpected information generally is associated with discrete jumps in prices. Traditional event study models pool both announcement effects and trading effects and may lead to inefficient estimators. The jump-diffusion model can separate the impact of informed trading from unanticipated public announcements. Our results indicate that the variance of the jumps is large and increases with bank size and portion of loans to Mexico.     

Reviews

Regions. ERA 1998: 21st CENTURY REGIONS. London: Economic & regional analysis, 23. Buckingham Gate, London SW1E 6LB, £30 + £1 p&p paper.

Environmental management standards. Krut, R. and Gleckman, H. 1998: ISO 14001: A MISSED OPPORTUNITY FOR SUSTAINABLE GLOBAL INDUSTRIAL DEVELOPMENT. London: Earthscan Publications Ltd, £14.95 paper.

Environmental jobs. Hale, M. and Lachowicz, M. 1998: THE ENVIRONMENT, EMPLOYMENT AND SUSTAINABLE DEVELOPMENT. London: Routledge, £17.99 paper.

Sustainability and regeneration. Carley, M. and Kirk, K. 1998: SUSTAINABLE BY 2020? A STRATEGIC APPROACH TO URBAN REGENERATION FOR BRITAIN'S CITIES. Bristol: The Policy Press, £11.95 paper.

Gambling. Frey, J.H. (ed) 1998: GAMBLING: SOCIOECONOMIC IMPACTS AND PUBLIC POLICY. The Annals of the American Academy of Political and Social Science. London: Sage Publications, £14.99 paper.

Informal employment. Williams, C. C. and Windebank, J. 1998: INFORMAL EMPLOYMENT IN THE ADVANCED ECONOMIES: IMPLICATIONS FOR WORK AND WELFARE. London: Routledge, £15.99 paper.

TECS. Jones, M. 1999: NEW INSTITUTIONAL SPACES: TECS AND THE REMAKING OF ECONOMIC GOVERNANCE. London: Regional Studies Association, £27.50 paper.

The New Regional Agenda. Dungey, J. and Newman, I. 1999: THE NEW REGIONAL AGENDA. London: Local Government Information Unit, £15.00 paper.

Mutual aid and self-help. Burne, Danny and Taylor, Marilyn, 1998: MUTUAL AID AND SELF-HELP: COPING STRATEGIES FOR EXCLUDED COMMUNITIES. Bristol: The Policy Press, £10.95.