The distributional impact of large dams: Evidence from cropland productivity in Africa

We examine the distributional impact of large dams on cropland productivity in Africa. As our unit of analysis we use a hydrology based spatial breakdown of the continent that allows one to exactly define regions in terms of their upstream/downstream relationship at a highly disaggregated level. We then use satellite data to derive measures of cropland productivity within these areas. Our econometric analysis shows that while regions downstream benefit from large dams, no beneficial effects accrue to cropland within the vicinity. Moreover, we find that the productivity enhancing impact of upstream dams is dependent on the local climate. Overall our results suggest that upstream dams have quantitatively on average provided up to 12% of the minimum daily per capita amount of kilocalorie needs in downstream communities and increased agricultural production by 1%.     

Impact on Firm Liquidity Arising from Outsourcing Decisions as Evidenced by Off-Balance-Sheet Disclosures

International Advances in Economic Research - Based on transaction-cost and resource-based theories (and other approaches), there is an extensive literature on the range of factors that are viewed...     

THE IMPACT OF FOOD PRICE SHOCK ON HETEROGENEOUS CREDIT CONSTRAINED FIRMS

ABSTRACT 1 : The paper analyzes how rising food and energy prices affect heterogeneous firm access to inputs and production under credit market imperfections. We estimate a firm credit constraint equation using a unique firm level panel data and find that, on average, small individual firms (IF) are more credit constrained than large corporate firms (CF). Using the estimated parameters, we simulate the effect of the recent food price shock on the world markets. Our results suggest that in the presence of credit market imperfections, the less credit constrained CF benefit relatively more from food price increase than IF, as they are able to expand their production more flexibly. These findings have important policy implications for countries with significant market imperfections. In the case of the food price shock, not only consumers but also producers, which on average are more credit constrained than producers in developed countries, may lose their market shares and hence their income in the long run.     

The extent to which unbalanced schedules cause distortions in sports league tables

The Australian Football League (AFL) has operated its fixture on the basis of an unbalanced schedule since the league expanded from 12 to 14 teams in 1987. This system contains a number of factors (some random) determining the set of bilateral combinations of teams that play each other on an extra occasion during the course of the season, not least of all maximising attendances. While the status quo may be unavoidable to some extent (it is also a bone of contention to many fans), its implications for within-season measures of competitive balance are nonetheless obvious. This is because of the potential for biases being created in the end-of-season league table as a result of the unbalanced schedule. This paper uses a modified model to correct for this inherent bias over the seasons 1997–2008, and the results are discussed in detail. The model is also generalisable to many unbalanced schedule designs observed in professional sports leagues worldwide.     

Response to Seitz and Tödter, 'How the P* Model Rationalizes Monetary Targeting: A Comment on Svensson'

Seitz and TÎdter argue, counter to Svensson, that the P * model provides a rationale for money-growth targeting. In particular, they argue that 'money growth targeting is a special form of inflation forecast targeting based on a "limited" information set. In contrast to "full information" inflation forecast targeting, money growth targeting is likely to be more robust under changing conditions of the real world'.
However, money-growth targeting is better described as a special case of inflation targeting, namely when money growth is considered to be the only predictor of future inflation. But there is overwhelming empirical evidence that there are not only other, but also better, predictors of future inflation than money growth, which makes inflation-forecast targeting superior to money-growth targeting. Inflation-forecast targeting is indeed more robust (in the sense of using available information and allowing judgemental adjustments in a flexible way) than monetary targeting.
In particular, in the P * model, the real money gap is a better predictor of future inflation than money growth, as demonstrated theoretically by Svensson and empirically by Gerlach and Svensson (the empirical finding is also confirmed by Trecroci and Vega). Therefore, inflation-forecast targeting is superior also within the P * model. Under `changing conditions of the real world', for instance after the formation of a monetary union, money growth is likely to be particularly unreliable as a predictor of future inflation, making monetary targeting especially unsuitable and non-robust.     

Analysis and Forecast of the State of Environmental Protection in Russia

The main purpose of the present study is to analyse the emission dynamics of atmospheric and water pollutants in Russia and cost of their removal in the 1980s and early 1990s, and to forecast them by means of a Dynamic Input–Output Model according to different scenarios of future economic development till 1998. Main results of the work are:– methodological principles have been elaborated for singling out the environmental protection sector within the national economy;– a method has been offered for including the ecological block into a Dynamic Input–Output Model of the Russian economy;– a method of data preparation has been elaborated for the ecological block of the above-named model, the data base which characterizes the ecological situation in Russia has been formed and analysed;– calculations for 1994–1998 have been executed for forecasting the economic and ecological development of Russia using the above-mentioned model and the results obtained have been analysed. The results showed that if the existing tendencies towards low environmental protection capital costs remain the same, then the negative environmental impact will increase. In order to implement ecological programs and international agreements, to increase the proportion of removed pollutants, it is necessary to increase substantially expenditures on purifying water and air resources. The proportion of environmental protection investments in the total amount of the national economy capital costs should increase by up to 12–40% according to different scenarios of the economic development and different purposes of the environmental protection policy.     

建设现代新型国有森工企业对策初探

对建设现代新型国有森工企业的对策进行了探讨。认为:只有注重在建设大美、富强、文明、和谐和幸福森工企业上下功夫,才能最终实现全面建设现代新型国有森工企业的目标。大美的核心是培育好森林资源,改善林区生态环境;富强的要点是通过强化管理和改革、增强企业经济实力;文明包括精神文明和政治文明;和谐根本是办实事,安民心。     

Analysis of the status and trends of applications of advanced manufacturing technologies in Russia

The article has analyzed trends in applying advanced manufacturing technologies in Russia in 2005–2014. The dynamics of technical process structures in the context of applications has been considered. The dynamics of the age structure and the structure of technologies in use in annual terms by the place of acquiring has been assessed. The start-up, availability, and removal balance of technologies has been formed, the effective start-up level, and possible ways to improve the state statistical indicators of innovation development have been determined.