Building State Capacity: Reforming Mexican State Food Aid Programmes in the 1990 s

Recent studies of state food aid to poor households in Mexico by the International Food Policy Research Institute (IFPRI) and Food First point to a rare case of successful second-generation reform in the social sector. This article analyses a critical juncture at the start of the 1990 s in which policy-makers predisposed to reform gained an upper hand and over time improved state capacity in an area in which prolific corruption, middle class and urban favouritism and pervasive partisan clientelism reigned for decades. Across Latin America, crisis-inspired state downsizing (“first-generation reform”) has given way to a desire to build state capacity (“second-generation reform”). To date, the regional record is mixed; however, one thing is certain, the context for first-generation reform—macroeconomic instability and foreign lender conditionality—offers an unsatisfactory guide to why and under what circumstances governments embrace, delay or reject second-generation reform.     

Luck versus Skill in the Cross‐Section of Mutual Fund Returns

The aggregate portfolio of actively managed U.S. equity mutual funds is close to the market portfolio, but the high costs of active management show up intact as lower returns to investors. Bootstrap simulations suggest that few funds produce benchmark‐adjusted expected returns sufficient to cover their costs. If we add back the costs in fund expense ratios, there is evidence of inferior and superior performance (nonzero true α) in the extreme tails of the cross‐section of mutual fund α estimates.     

Two Views of Social Justice: A Catholic/Georgist Dialogue

Sixteen scholars have come together in this issue to examine eight social‐justice themes from the perspectives of Catholic Social Thought and the philosophy of Henry George. The themes they address are natural law, human nature, the nature of work, the nineteenth‐century papal encyclical Rerum novarum, causes of war, immigration, development, and wealth, and neighborhood revitalization. While they sometimes wrangle with each other, their common aspiration is the same as their nineteenth‐century predecessors: to find solutions to the human suffering caused by injustice.     

Occupant-use factors influencing optimal results from energy conservation strategies

Although residential conservation strategies can have a dramatic impact on energy consumption, the involvement of the occupant can have a deterring and/or an enhancing influence on optimal results. Occupant impact on the use of residential heating conservation strategies was assessed by monitoring use factors and energy-consumption data of nine families living in an energy test house. The families tested two supplemental space heating strategies, use of a sunspace and a woodstove. The families used each strategy separately for one-week periods. User- and energy-consumption data for the use of flow-restricting showerheads, a hot-water conservation strategy, were used by nine families — seven involved in the testing of the heating strategies and two who tested cooling strategies in the summer months. The families used the showerheads either for a one or two-week period. Energy-consumption data were compared against a baseline week in which none of the conservation strategies were used. A computer-based data acquisition system tracked energy consumption as well as room temperatures and other environmental data. Questionnaires, completed daily and weekly, were used to collect user-behaviour data, including evaluations of user involvement, resulting thermal comfort, and impact on family routines and habits. The results showed that resident implementation of strategy requirements was related to energy savings. Energy savings varied with being at home in order to open/close sunspace doors for optimal heating, with the level of previous experience of the woodstove strategy, and with compensating behaviour such as taking baths instead of using the flow-restricting showerheads.