KwaZulu-Natal Income Dynamics Study (KIDS) 1993–98: A longitudinal household database for South African policy analysis

An important adjunct of apartheid has been the absence of credible and comprehensive data on which policies, such as poverty reduction strategies, can be grounded. The 1993 Project for Statistics on Living Standards and Development (PSLSD) provided the first comprehensive household database for South Africa. Despite its usefulness, however, the one round PSLSD cannot provide answers to many questions important to policy researchers and practitioners, particularly questions about dynamic processes. The primary objective in this article is to introduce a new longitudinal household database, based on the PSLSD, which begins to fill this gap. Households surveyed by the PSLSD in KwaZulu-Natal province were re-surveyed in 1998 by the KwaZulu-Natal Income Dynamics Survey (KIDS). As a research endeavour, the KIDS project addresses one of the most vexing and important problems confronting contemporary South Africa: understanding the forces and mechanisms which contribute to the perpetuation of apartheid's legacy of poverty and inequality.     

How important is improving food availability for reducing child malnutrition in developing countries?

Do increases in the food supply per person in a country, i.e., national food availability, contribute substantially to reductions in malnutrition among its children? This paper sets out to answer this controversial question using panel data from 63 developing countries over 1970–1996. This paper gives evidence in support of a statistically significant and strong positive impact of national food availability on child nutrition, finding that increased food supplies have resulted in significant reductions in malnutrition since the 1970s despite population increases over the period. However, per‐capita food supplies have a declining marginal impact: their effect is quite strong for countries with very low food availability (e.g., most countries in sub‐Saharan Africa and South Asia), but weak or non‐existent for those with high levels (e.g., most countries in the Near East and North Africa). Further, non‐food factors, such as women's education and status and the quality of health environments, are also important determinants of children's nutritional status. Depending on the state of food availability in any particular geographic area and relative costs, these factors may merit greater priority in policies to reduce malnutrition.     

INTRAHOUSEHOLD INEQUALITY AT DIFFERENT WELFARE LEVELS: ENERGY INTAKE AND ENERGY EXPENDITURE DATA FROM THE PHILIPPINES*

ABSTRACTS This paper investigates the relationship between intrahousehold inequality and levels of household welfare. Under certain conditions it is demonstrated — with both the unitary model of the household and with some collective models — that the relationship between household welfare and inequality within the household can have an inverted u-shape. Using two sets of calorie adequacy data from a sample of 455 households in the Philippines, a spline analysis is used to test the hypothesis that inequality within the household first increases and then decreases as per capita household total expenditure increases. The two sets of calorie adequacy data are based on repeated 24- hour recalls of dietary intake, and on calorie requirements that are unadjusted and then adjusted for individual activity patterns. Results indicate that once activity patterns are accounted for, calorie intake shortfalls are borne fairly equally within the household at all per capita household total expenditure levels.     

Terrorism and inbound tourism in Egypt: Economy-wide and distributional impacts

Following the January 2011 Revolution, Egypt experienced increasing political instability and has also been the target of intense terrorist attacks. While substantial efforts continue to be exerted by the current regime to put an end to these attacks, it is not clear whether the country's reputation as a safe tourist destination will be restored in the medium run. This paper assesses the extent of the Egyptian economy's vulnerability to a prolonged tourism shock using an economy-wide framework. The simulation results reveal that a shock to tourism has a significant impact on the Egyptian economy, as a rebound of inbound tourism substantially increases both GDP and welfare. Consequently, it pays for the government to put measures in place to moderate the effect of negative shocks to inbound tourism. A subsidy to health tourism was found to boost both economic growth and welfare.     

OVER-THE-COUNTER FIRMS,ASYMMETRIC INFORMATION,AND FINANCING PREFERENCES

A puzzling empirical finding is that firms often seem to follow a pecking-order hierarchy of financing. Asymmetric information has been hypothesized as one possible explanation for the pecking-order hierarchy. A survey of Fortune 500 firms found strong support for the pecking-order model. This study surveys over-the-counter firms which seem more likely to experience asymmetric information than the Fortune 500. The findings of this study provide empirical support for the asymmetric information hypothesis by demonstrating that managers of firms with greater asymmetric information are more likely to believe their stock is mispriced leading them to follow the pecking-order model of financing.     

The Associate Life Legacy Program: the ultimate gift from employees

St. Vincent Hospital Foundation introduced a program whereby employees can leave a legacy without cost to them. To date the program has generated nearly $26 million in pledges.