Polycentric development in the Cape Town city-region: Empirical assessment and consideration of spatial policy implications

The concept of the ‘polycentric urban region’ has been popularised both as a theoretical concept for understanding regional urban systems in an era of reduced transport and communication costs, and as a normative policy objective in its own right. This paper explores its relevance to the rapidly urbanising Cape Town city-region. First, empirical evidence for the emergence of polycentric regional development patterns was considered. Shifts in relative settlements sizes (morphological polycentrism) over the period 1991–2011 were examined using population data, and patterns of inter-settlement interactions (functional polycentrism) were explored by analysing commuting information. Contrary to expectations, trends toward polycentric development were found to be weak. Second, the paper considers the relevance and value of polycentric development thinking for regional economic and spatial planning policy, concluding that there are insufficient grounds for policy intervention aimed at encouraging polycentric regional development or countering the dominance of Cape Town in the region.     

Potential implications of COVID-19 on the Canadian pork industry

Canada and the United States have strong economic ties and form part of an integrated North American pork industry. Canada's pork industry is export-oriented, and the United States represents a key market for both live pigs and pork. Pork value chain stakeholders include input suppliers, pig producers, transportation companies, slaughter plants, wholesalers, and retailers. There are three overriding areas of concern for the Canadian pork industry with respect to potential impacts of the current pandemic (COVID-19). The first is Canada/US trade and the ability to continue exporting Canadian live pigs and pork to the United States. The second is labor and the impact of potential absenteeism on all sectors of the pork value chain. The third is global trade, because Canada's pork industry relies heavily on exporting pork to markets around the world.     

Unintended consequences in demarketing antisocial behaviour: project Bernie

Unintended consequences are recognised as a potential risk for well-intentioned social marketing interventions and as a comparatively under-researched topic in the field. This case study uses an intervention tackling deliberate grassfires to explore the application of social marketing in a novel context, its potential effectiveness in demarketing antisocial behaviours and the potential of such interventions to generate positive and negative unintended consequences. The intervention’s evaluation confirms social marketing’s potential value in tackling ingrained antisocial behaviours within communities. It also revealed unexpected benefits accruing from changes within the target community, within the sponsoring fire service and in the relationship between the two. The paper concludes by discussing the implications of potential unexpected and unplanned consequences for intervention planning, conduct and evaluation.     

Effects of frequent information disclosure: the case of daily net asset value reporting for closed-end investment companies

There are two competing hypotheses regarding the effects of increased financial disclosure. One states that increased disclosure leads to decreased information asymmetry and more efficient pricing resulting in reduced bid-ask spreads, volatility and illiquidity. The other says that increased disclosure places additional burdens on traders leading to increased transactions costs and volatility. This paper examines the effects of more-frequent reporting for the case of closed-end funds that voluntarily changed their net-asset-value reporting from weekly to daily beginning in 1998. Multivariate analyses indicate a decrease in asymmetric information following initiation of daily reporting as evidenced by lower spreads, greater transactions volume, reduced volatility and decreased illiquidity. We conclude that closed-end fund daily net-asset-value reporting provides an example of information disclosure that provides useful information to investors and reduces information asymmetry.     

The Aggregate Demand Curve and Its Proper Interpretation

Textbook authors, in their presentations of aggregate demand–aggregate supply, are admonished to set their houses in order. The writers suggest the continued usefulness of the traditional “Keynesian cross” model as a pedagogical device and present a version that they allege to be superior to the popular AD–AS models found in many contemporary texts.     

Demographic change,human capital accumulation and R&D‐based growth

Employing an overlapping generations model of R&D‐based growth with endogenous fertility and education decisions, we examine how demographic changes induced by an increase in life expectancy influence the long‐run growth rate of the economy. We demonstrate that life expectancy, when relatively low (high), positively (negatively) affects economic growth. This paper also compares the growth implications of child education subsidy policies (i.e., policies for enhancing basic education) and child rearing subsidy policies (i.e., pro‐natal policies) and demonstrate that while the child education subsidies consistently foster economic growth, child rearing subsidies may negatively affect economic growth.     

HETEROGENEITY IN WILLINGNESS‐TO‐PAY FOR THEATRE PRODUCTIONS: INDIVIDUAL SPECIFIC WILLINGNESS‐TO‐PAY ESTIMATES FOR THEATRES,SHOWS AND THEIR ATTRIBUTES

This paper investigates people's preferences for live theatre, and heterogeneity in willingness‐to‐pay (WTP). A stated preference discrete choice model estimates utility and WTP for different attributes of theatre productions. Previous studies assumed fixed coefficients across all theatre‐goers. This study allows coefficients of attributes to vary across individuals in the population, providing information on the heterogeneity of tastes. Theatre‐goers' choices are used to estimate individual‐based parameters for a person's tastes in theatre productions. The analysis reveals the heterogeneity of tastes for different types of plays and ticket price; and the significance of ‘reviews’ by critics and ‘word of mouth’ opinions as important variables determining choice.