The Roles of Independent Research and Technology Organizations in the United Kingdom's Technology Transfer Mechanism to SMEs

Independent Research and Technology Organizations (RTOs) provide an increasing proportion of the UK's technology services requirements. RTOs, often former state research establishments spun out into the private sector, provide technology consulting and networking services to specific sectors or for generic technologies; some are membership-based organizations while others work for contract clients. In this paper we explore the roles and services provided by RTOs, together with the measures being taken to assist small firms that, for many RTOs, form a new and challenging market. The diversity of services and approaches to SMEs are related, in part, to the different origins of RTOs. The research indicates three forms of technology services market failure that suggest a need for ongoing external support for the market's mechanism.     

Wages,government policy and unemployment

The argument of this article is easily stated if the propositions of historical materialism are true the feasibility of socialism is seriously in doubt. Section 1 outlines what is meant by historial materialism and Section II considers the work of Marx on the development of socialism. The following three sections analyse the work of socialist economists and their critics during the twentieth century. In the conclusion our overall argument is summarized.     

Monopoly Power and Stagflation

Post Keynesian economists have followed Joan Robinson's criticism of general equilibrium theory as abolishing history by allowing all contracts to be executed today for all future contingencies. This was the justification for the support of financial innovation to provide for the completeness of futures markets. The recent crisis has shown that force of history. Instead, many evolutionary and Keynesian economists have suggested the approach of cumulative causation as an approach that includes history and eschews equilibrium. This approach may provide a way to take history seriously in economic analysis.     

Teacher Effectiveness and Student Performance

This paper evaluates the effects of using graduate student instructors rather than regular faculty in a macro course. Experienced faculty presumably have a positive effect on student performance, yet graduate instructors appear to be as effective in teaching macro principles. What may be involved are different sets of skills: experienced faculty may have a greater depth of understanding of the material, more self-confidence, and a more critical approach. Graduate instructorS, on the other hand, may be able to grasp what students don't understand, and may make up in enthusiasm and approachability what they lack in understanding.

The author urges using more than one measure of effectiveness in studies of this type because of many things not captured: excitement with the subject, caution in accepting unsupported arguments, a perspective on the economic system, and the like.     

Productivity impact of drought tolerant maize varieties under rainfall stress in Malawi: A continuous treatment approach

Drought tolerant (DT) maize varieties have received massive support in sub‐Saharan Africa because of their potential to protect smallholder farmers against drought‐related maize yield losses. Using four waves of household farm panel data from six districts in Malawi, we examine the impact heterogeneity of this technology on maize productivity using a continuous treatment approach. We find strong evidence of positive correlation between maize yield and adoption of DT maize varieties. On average, an increase by one hectare in the area allocated to DT varieties increases maize yield by 547 Kg/ha representing a 44% increase from the average maize yield of 1,254 Kg/ha for our sample. Our findings give evidence that DT maize technology has potential to protect smallholder farmers against drought‐related production losses. Policies that promote increased allocation of maize area to DT maize hold potential to enhance food security. Smallholder farmers especially in drought‐prone areas should be encouraged to allocate at least one‐third of the maize plot to DT varieties while breeders continue with the efforts of breeding a DT variety that is not only drought tolerant but also adapted to all weather conditions. More importantly, the government should ensure provision of timely ex ante weather information to guide farmers on decision‐making with respect to maize varietal choices.     

The influence of self-construal and co-consumption others on consumer complaining behavior

Consumers show great individual variability in complaining behavior even after experiencing similar service failures. The present study examined the effect of self-construal and co-consumption others on consumer complaining behavior following a service failure. Based on an experimental study with a sample of 202 in a restaurant context, MANCOVA results revealed significant effects of self-construal on voice response and switching behavior. The results also showed a significant interaction effect of self-construal and the presence of co-consumption others on switching behavior. The findings shed light into the intrapersonal and interpersonal dynamics at work when consumers react to service failures. Theoretical and managerial implications of the findings are also discussed.     

The Interdependence between Trade Credit and Bank Lending: Commitment in Intermediary Firm Relationships

This study investigates the interdependence between trade and bank credit among 468 Portuguese small and medium‐sized enterprises (SMEs). The results show that a single bank relationship is prevalent among Portuguese SMEs, indicating that the proprietary borrower information that banks obtain through their relationship results in an information monopoly that creates a holdup problem and leads to high interest rates. Suppliers that can control their customers' credit risk may provide additional credit and thus help alleviate concerns associated with holdup costs. Trade credit is a viable alternative to short‐term debt, especially when firms' main bank is unwilling to increase its exposure to liquidity constraints.     

Impacts of Low-Cost Land Certification on Investment and Productivity

New land reforms are again high on the policy agenda and low-cost, propoor reforms are being tested in poor countries. This article assesses the investment and productivity impacts of the recent low-cost land certification implemented in the Tigray region of Ethiopia, using a unique household and farm-plot-level panel data set, with data from before and up to eight years after the reform. Alternative econometric methods were used to test and control for endogeneity of certification and for unobserved household heterogeneity. Significant positive impacts were found, including effects on the maintenance of soil conservation structures, investment in trees, and land productivity.     

Distress rentals and the land rental market as a safety net: contract choice evidence from Tigray,Ethiopia

Rural households in the semiarid Northern Ethiopian highlands are net buyers of food. Crop failure due to erratic and unpredictable rainfall occurs frequently and leads to food shortages and income shocks. The renting out of land may be one of the coping responses of households exposed to shocks. We developed a theoretical household model for poor landlord households capturing their contract choice response to downside production shocks. We tested econometrically whether contract choice may depend on poverty, capital constraints, production risk and random shocks. The multinomial logit model estimates show that poor households experiencing random shocks are more likely to choose fixed‐rent contracts as a distress response to shocks, suggesting that fixed‐rent contracts may be used to meet immediate needs, but at the expense of future incomes. We also found that fixed‐rent contracts are preferred when ex ante production risk is low, while sharecropping is more likely where production risk is high. Finally, we found an indication that the choice of a fixed‐rent contract as a coping response to shocks comes as a last resort after all other means of coping are exhausted.     

Experience-based learning in innovation and production

How can we model and document the impact of experience in product innovation? We use data on the innovation and production histories of 294 product platforms to explore experience‐based learning. We extend learning curve concepts from their traditional domain – the production process – into the product innovation process to build and test a richer, quantitative model of learning. The results suggest that learning occurs differently in the innovation process than in production. They also suggest that how and where a firm learns depend in part on the complexity of product components and sub‐systems. Finally, we discuss the competitive implications for product innovation.