ECONOMIES OF SIZE REVISITED

Empirical and theoretical investigations as to how firms evolve in size have been of interest to economists, agricultural economists and policymakers for decades. While returns to size have been frequently estimated, measurement has been carried out using a wide range of methodological approaches. This paper offers a critique and discussion of the conceptual and methodological issues surrounding the measurement of size economies.     

AGRICULTURE IN THE URUGUAY ROUND: AMBITIONS AND REALITIES

Agricultural trade policies are basically a function of domestic policy considerations which have produced high levels of support in many countries. New policy instruments such as direct payments, which are more demanding in terms of information costs but which distort resource allocation less, are becoming more attractive. Unilateral liberalisation is, however, unlikely. Freer trade is a public good which requires international collective action to be provided. Countries which have a clear-cut trade interest in liberalising markets for commodities they export can play the role of catalyst in international co-ordination. The existence of big players is a favourable factor. Hence, the drift of the Round towards a co-ordination of US-EC interests. Both political economy and trade interest considerations suggest that an agreement reached will have its main impact on crops which are widely traded. The main constraining factor of an agreement on EC and US agriculture will be the discipline it will impose on the use of export subsidies. Agriculture will still not come fully under GATT rules which apply to other sectors, but in the future the CAP will be more constrained by international commitments than in the past.     

通胀难题席卷全球

几年的相对稳定期过后,价格上涨风潮现已横扫全球。它来得很不是时候。一段时间以来美国联邦储备委员会（Fed）连续大幅下调利率,Fed之所以与治理通货膨胀的常规策略背道而驰,为的是防范房产市场崩溃和信贷危机演化成为经济的长时间严重衰退。这就使得这场针对通货膨胀的全球战役变得更加艰难和复杂。     

Urban development patterns in Indonesia

The author examines recent urban development in Indonesia. "Analysis of urban developments in Indonesia has been hampered in the past by weak data. Recently, the National Urban Development Strategy (NUDS) project has generated a set of improved data. This paper aims at elaborating and supplementing the NUDS study. After a discussion of definitional problems, an analysis is carried out of urban growth rates at the provincial level. Private investment is shown to be a principal determinant of urban growth rates. Other significant determinants are rural immigration and the present level of urbanisation. Private investment is shown to be strongly biased towards provinces with large urban areas. In addition, polarisation is studied at the level of individual cities. It is found that a period of rapidly increasing polarisation has come to an end during the last decade."