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. 相似文献
This paper examines the determinants of foreign patent activity in the Canadian manufacturing sector at the industry level. Since foreign patenting is one of the channels of technology transfer to a country, this study could also show the transfer of foreign technology into Canadian industries measured by foreign patent activity. The paper suggests that the patent activity of foreign countries is the most important factor for receiving foreign patents in Canada. Moreover, imports and foreign direct investments are important vehicles this context. The distance between countries has a negative impact on receiving foreign patents. The impacts of R&D intensity and human capital on receiving foreign patents are mixed and insignificant, but industries with a higher R&D intensity are better recipients of foreign patents. 相似文献
A two-agent model for the exploitation of the Arcto-Norwegian cod stock is developed to investigate the economic benefits that can be realized from the resource, and the effect of exploitation on stock sustainability under cooperation and non-cooperation. The two agents are identified in this study as a trawl fishery versus a coastal fishery. Unlike in Munro (1979), where conflicts in the management strategies of agents arise from differences in the perceptions of the discount factor, fishing effort costs, and consumer preferences, here conflicts arise mainly from the differences in fishing gear and grounds, and the age group of cod targeted by the two agents. Using a game theoretic framework, we show that given available data, the optimum optimorum is obtained under cooperation with side payments and no predetermined harvest shares, in which case the coastal fishery buys out the trawl fishery. However, sensitivity analysis shows that if the price premium assumed for mature cod is taken away, the trawl fishery takes over as the producer of the optimum optimorum. 相似文献
Using a unique sample of 444 entrepreneurial IPOs in the UK and France this paper examines links between founders' characteristics,
venture capital (VC) syndication and the development of effective boards in entrepreneurial firms. It argues that VC-backed
IPOs suffer from two sets of agency problems which are related to principal-agent and principal-principal relationships between
the founders and members of the VC syndicate. The empirical evidence shows that there is a curvilinear relationship between
the intensity of founders' external ties and VC syndication. Founders' retained share ownership is negatively associated with
VC syndication. We also find that in syndicated IPOs there is a higher involvement of passive private equity firms and “business
angels” investing alongside VC firms, both in terms of their number and equity presence. VC-syndicated IPOs have more independent
boards than IPOs with no VC involvement. Board independence is negatively associated with founders' retained equity. These
results are consistent with the assumption that board independence is used to mitigate agency costs associated with VC involvement
in IPO firms. Our findings also identify significant differences in governance characteristics between the UK and France.
While French IPOs have less independent boards, they involve more VC backing in general and syndicated VC funding in particular,
than UK IPOs. 相似文献
This paper proposes a semiparametric smooth-varying coefficient input distance frontier model with multiple outputs and multiple inputs, panel data, and determinants of technical inefficiency for the Indonesian banking industry during the period 2000 to 2015. The technology parameters are unknown functions of a set of environmental factors that shift the input distance frontier non-neutrally. The computationally simple constraint weighted bootstrapping method is employed to impose the regularity constraints on the distance function. As a by-product, total factor productivity (TFP) growth is estimated and decomposed into technical change, scale component, and efficiency change. The distance elasticities, marginal effects of the environmental factors on the distance elasticities, temporal behavior of technical efficiency, and also TFP growth and its components are investigated.
The tourism industry in Malaysia is one of the most important sectors in terms of its contribution to the growth of the nation. The extensive demand on the tourism industry has stimulated the emergence of many small and medium hotels, resorts, and chalets in Malaysia. According to the literature, small and medium hotels are an extension of the entrepreneurial characteristics of the owners/managers of the hotels. In Malaysia, small and medium hotel entrepreneurs (SMHEs) have not been given much attention. Looking at this gap, this study aims to provide a significant result on entrepreneurship issues in Malaysia. The main objective of this study is to examine the characteristics of small and medium hotel owners/managers and the issues and problems they confront in relation to their survivability in the industry. The result revealed that the majority of owners/managers of small and medium hotels were male, middle-aged and older, with secondary and upper level of education, and whose prior specialisations or knowledge were not related to tourism. With strong self-confidence and independent personality characteristics, the majority started to establish their businesses after the financial crisis in 1997–1998. The result also defined small scale to mean hotels with less than 50 rooms, which had been constructed with limited personal funding and bank loans. Information technology was found to be an important tool to promote their hotels, but conventional techniques such as word of mouth and signboards were still significant. The owners/managers of small and medium hotels were in agreement over their weaknesses in terms of lack of knowledge and skills in running the business. At the same time, they also felt that the government should play a more proactive role in promoting the tourism industry. 相似文献
ABSTRACT This study aims to investigate dynamic relationships between research and development (R&D) expenditure, climate change (measured by annual rainfall and temperature variations), human capital (proxied by literacy) and total factor productivity (TFP) growth in Bangladesh agriculture. Pesaran’s Pooled Mean Group (PMG) estimator is used to a unique panel data of 17 regions of Bangladesh covering a 61-year period (1948–2008). In addition, the panel vector autoregression (PVAR) model is also applied to trace the responsiveness of TFP from a shock to R&D, extension services, and literacy rate. Results reveal that R&D has an insignificant impact on TFP in the short-run, while it has a significant positive impact in the long-run. The contributions of climate variables (i.e., rainfall and temperature variations) are highly significant and negative in the long run. The literacy rate is found to have a significant positive impact on TFP as expected. These results suggest that agricultural R&D investment and human capital could play an important role to ameliorate the adverse effects of climate change in the agricultural sector of Bangladesh. 相似文献