Tourism and economic development: Which investments produce gains for regions?

Across three decades numerous metropolitan regions have made substantial investments in different tourist amenity packages. These investments were made to either capture a portion of the growing tourism market or establish an image that attracted the human capital needed to advance economic development. This article analyzes the returns for the tourism industry and for economic development from different amenity packages and finds those related to sports and amusements generated the most significant gains for regions.     

The empirical development of a taxonomy for classifying recreation participants based on their attitudes toward the public and commercial sectors

Abstract

This study examined attitudes held toward the public and commercial sectors as variables relevant to classifying the recreation participants. The data were collected in a controlled experimental setting. A taxonomy was developed which can be used to categorize individuals on the basis of their attitudes toward the two sectors. Discriminant analysis was used to place individual subjects into one of nine groups in the taxonomy. The discriminant analysis identified statistically significant differences in the attitudes of individuals who were placed into the various groups. Further analysis revealed that the taxonomy may be simplified by collapsing the nine groups into three groups. The three groups include: (1) people who have more favorable attitudes toward the public sector than toward the commercial sector; (2) people who have more favorable attitudes toward the commercial sector than toward the public sector; and (3) people who have similar attitudes toward both sectors. Limitations of the study, implications for managers, and directions for future research are discussed.     

Donor Funding of Multilateral Aid Agencies: Determining Factors and Revealed Burden Sharing

This paper reports an empirical study of the factors affecting burden sharing among OECD's 22 DAC members in ‘bankrolling’ the multilateral aid agencies. Annual data over 1970–2000, pooled across the donor countries, form the basis for the empirical estimation of each donor's share in the ODA aid receipts for each multilateral agency. Our findings suggest the existence of reverse exploitation, i.e., the financial burden of the agencies is disproportionally carried by the smaller donors. The study also finds that factors such as inherent donor generosity, donor concern for domestic egalitarianism, and the extent to which donors are pro‐poor in their bilateral aid policies have an impact on their readiness to support multilateral agencies financially. Size of the donor government and its budgetary balance positively influence burden sharing of contributions to other multilateral agencies. But neither the phase of economic cycle nor the rate of economic growth affects the burden‐sharing responsibility of donors. It was also observed that contributions by EU members to the EC do not appear to crowd‐out their contributions to other multilateral aid agencies and that right‐wing donor governments are generally more parsimonious with regard to financial assistance to multilateral aid agencies. The preferred alternative, particularly among EU member countries, appears to be the EC.     

Fast delta computations in the swap-rate market model

We develop an efficient algorithm to implement the adjoint method that computes sensitivities of an interest rate derivative to different underlying rates in the co-terminal swap-rate market model. The order of computation per step of the new method is shown to be proportional to the number of rates times the number of factors, which is the same as the order in the LIBOR market model.     

Ecosystem cross‐sector collaboration: conceptualizing an adaptive approach to sustainability governance

This paper explores the theoretical underpinnings of collaboration and ecosystem management in order to identify the relationships and processes involved in implementing ecosystem management programs through cross‐sector collaboration. Ecosystem management requires a highly adaptive and resilient social–ecological governance approach, which addresses spatiality and temporality issues. In order to explore possible implementation issues with ecosystem management, propositions are developed dealing with adaptive governance, institutional isomorphism and collective action. The paper concludes with a discussion of the theoretic underpinnings involved in implementing ecosystem management through cross‐sector collaborations. Copyright © 2010 John Wiley & Sons, Ltd and ERP Environment.     

Access to Flexible Working and Informal Care

We use matched employer–employee data to explore the relationship between employees’ access to flexible working arrangements and the amount of informal care they provide to sick or elderly friends and relatives. Flexitime and the ability to reduce working hours are each associated with about 13% more hours of informal care. Workplaces do not respond to the presence of carers by providing flexible work, instead there is some underlying selection of carers into flexible workplaces. The wider workplace environment beyond formal flexible work may also facilitate care.