Can structural adjustment work for women farmers

This article discusses the impact of structural adjustment programs (SAPs) on women farmers in developing countries. SAPs aim to improve economic efficiency and promote more rapid economic growth. SAPs are introduced in two phases. The first phase involves short-term loans with the condition that the country adopt monetary restraints and currency devaluation measures. In the second phase, long-term loans are given with the provision that the country deregulate their economy and open up markets. The agricultural sector is affected by SAPs because of their importance in employment, income generation, and export earnings. SAPs result in lower farm commodity prices due to currency devaluations and in removal of subsidies, which results in market-sensitive pricing or higher food prices. The impact of SAPs on agriculture vary between countries. In Morocco and Algeria, agriculture expanded under SAPs. In Indonesia, Bolivia, Costa Rica, and Mexico, the agriculture stagnated or declined. Agricultural growth was slowest in Africa. SAPs were somewhat successful in increasing agricultural exports. Food production grew slowly in many adjusting countries. Blame for failures of SAPs has been placed on government failure to implement reforms properly and overly optimistic assumptions about the timing of productive gains. Little attention has focused on the constraints facing women farmers, who are a large proportion of farmers, particularly in sub-Saharan Africa. This article focuses on the issues of limited access to resources, credit, agricultural extension and information, land ownership, education, and time as constraints to women farmers. Women also must ensure household food security. For SAPs to work effectively, complementary policies must be implemented that reallocate available productive resources and new technologies to women and that deal with women's constraints.     

Competition or Comparative Advantage: What Drives Cross Border Mergers and Acquisitions?

The theory of comparative advantage explains the upsurge of cross border mergers and acquisitions (CBMAs) in the era of reform led trade liberalization. This paper tests the theory of comparative advantage for CBMAs by firms belonging to a developing country, viz. India. Using count data the paper also shows that CBMAs have occurred in country and sector specific waves. This implies in developing countries, it is competition rather than comparative advantage which drives CBMAs. However, the paper finds that occurrence of the country specific wave and sector specific wave are negatively affected by favourable outward FDI policy.

     

Cost-effectiveness of combination daclatasvir-sofosbuvir for treatment of genotype 3 chronic hepatitis C infection in the United States

Background: A phase III trial evaluated the efficacy and safety of Daklinza (daclatasvir or DCV) in combination with sofosbuvir (SOF) for treatment of genotype (GT) 3 hepatitis C virus (HCV) patients.

Aim: This study evaluated the cost-effectiveness of DCV?+?SOF vs SOF in combination with ribavirin (RBV) over a 20-year time horizon from the perspective of a United States (US) payer.

Methods: A published Markov model was adapted to reflect US demographic characteristics, treatment patterns, costs of drug acquisition, monitoring, disease and adverse event management, and mortality risks. Clinical inputs came from the ALLY-3 and VALENCE trials. The primary outcome was the incremental cost-utility ratio. Life-years, incidence of complications, number of patients achieving sustained virological response (SVR), and the total cost per SVR were secondary outcomes. Costs (2014 USD) and quality-adjusted life years (QALYs) were discounted at 3% per year. Deterministic, probabilistic, and scenario sensitivity analyses were conducted.

Results: DCV?+?SOF was associated with lower costs and better effectiveness than SOF?+?RBV in the base case and in almost all scenarios (i.e. treatment-experienced, non-cirrhotic, time horizons of 5, 10, and 80 years). DCV?+?SOF was less costly, but also slightly less effective than SOF?+?RBV in the cirrhotic and treatment-naïve population scenarios. Results were sensitive to variations in the probability of achieving SVR for both treatment arms. DCV?+?SOF costs less than $50,000 per QALY gained in 79% of all probabilistic iterations compared with SOF?+?RBV.

Conclusion: DCV?+?SOF is a dominant option compared with SOF?+?RBV in the US for the overall GT 3 HCV patient population.     

North–South Trade and Pollution Migration: The Debate Revisited

The paper examines the effect of freer North–South trade in goods on pollution, commodity terms-of-trade and national welfare, utilizing a factor endowment framework. North and South are distinguished in terms of the relative endowment of a pollution causing natural resource: South is relatively more resource abundant. Compared to the analysis of Copeland and Taylor (1994)—which is the central work so far on this subject—this paper internalizes the commodity terms-of-trade impact of individual environment policies. It is derived that if countries specialize completely in the free-trade equilibrium, both are induced to reduce their pollution as compared to autarky. It is interesting and paradoxical that the South also reduces its pollution, despite specializing in the pollution-intensive good. Again, contrary to common perception, free trade may entail an overall terms-of-trade loss for the North, while South will always have a positive change in the terms-of-trade. Finally, inspite of better environment, free trade may cause both the countries to gain or lose in terms of aggregate welfare. This research has benefitted from comments received at the conference on International Dimension of Environment Policy organized by the European Science Foundation and Tilburg University, October 7–12, 2000 Kerkrade, The Netherlands and the International Conference on Environment and Development organized by CITD, School of International Studies, JNU, April 7–8, 2005, New Delhi, India, as well as those received from two anonymous referees. A small section of this research was published in Mehra and Das (2002).     

Developing firms' growth approaches as a multidimensional decision to enhance key stakeholders' wellbeing

Firms facing a dynamic marketplace associated with the increasing adoption of new-age technology, the growth of big data and analytics, and the increased importance of stakeholders seek guidance on the investment of scarce resources across these three primary dimensions. The key questions facing firms are: How can we capitalize on the three primary dimensions (the increasing new-age technology adoption, the growth of big data and analytics, and the increased importance of key stakeholders) and overcome their associated challenges to achieve sustainable firm growth? This study aims to revive the thinking based on the growth strategy literature in the current environment, by presenting a 4E growth strategy matrix comprising of entrenching, empowering, enterprising, and enriching growth strategies. We propose that a firm can invest resources to maximize on one, two, or all three primary dimensions to produce the four growth strategies. We present an organizing framework based on insights from our triangulated research approach. Each of the growth strategies discussed will result in building certain types of firm capabilities, which will then lead to serving the needs and well-being of the key stakeholders. We also present an extensive research agenda that emerges from the four growth strategies.     

Stochastic growth with correlated production shocks

This paper extends the stochastic growth model of Brock and Mirman [J. Econ. Theory4 (1972), 497–513] to allow the production shocks to be correlated over time. The resultant optimal savings and consumption policies depend not only upon the current level of output but also upon the most recent realization of the random shock. The properties of these policy functions are studied and it is shown that the Markov process on output, capital stock and consumption resulting from the application of these policies converges to a stationary distribution.     

Education and human capital development in the giants of Asia

Educational development has proceeded at a different pace and under different planning regimes in India, China, and Indonesia. This paper provides an overview of the role of education in their recent development—in particular their ability to capitalise on favourable trends in dependency ratios—and presents some key issues facing education planners and policy hurdles to overcome in further improving their level and quality of human capital. Common findings and useful strategies are highlighted in the conclusion, as well as the importance of seizing the opportunity of low dependency ratios to effect policies that will help develop human capital.