Measuring central bank independence: a latent variables approach

We argue that central bank independence (CBI) is a latent variable of which the various existing quantifications are imperfect indicators. We show how factor analysis techniques can be employed to assess the quality of the various indicators, and how an optimal weighting of the indicators can be obtained that gives the best approximation of CBI. We also show how these results can be utilized in models in which CBI is an explanatory variable. In contrast to the well‐known study of Campillo and Miron (1997) , we find that our CBI indicator is significantly related to inflation, also when various control variables are included.     

Value and exchange in economic theorizing: The contribution of the Freiburg School

The purpose of this contribution is to point out the main characteristics of the research program of the German economist Walter Eucken, the head of the Freiburg or ORDO-school. An exposé of his thoughts will be given on (a) the relation between theory and history, (b) the foundations of economic science (c) his contributions to economic theory, and (d) his contributions to the theory of economic policy. Moreover the relevance of the contribution of the Freiburg School (Eucken) to the theme of this symposium on value and exchange in economic theorizing will get attention.     

The role of knowledge,attitudes and perceptions in the uptake of agricultural and agroforestry innovations among smallholder farmers in sub-Saharan Africa

Despite the great potential of agricultural innovations, the uptake by smallholder farmers in sub-Saharan Africa seems to be slow. We reviewed existing theories and frameworks for the uptake of agricultural innovations and found that these tend to emphasize the role of extrinsic factors such as the characteristics of the adopter and the external environment in the decision-making process. In this paper, we argue that intrinsic factors such as the knowledge, perceptions and attitudes of the potential adopter towards the innovation play a key role, but this has been less studied. We present an analytical framework that combines both extrinsic and intrinsic factors in farmers' decisions to adopt new agricultural technologies and apply the framework to agroforestry adoption as a case study. We review the literature on agroforestry adoption in sub-Saharan Africa and identify the extrinsic and intrinsic variables affecting the uptake of agroforestry technologies. We conclude that the uptake of agricultural technologies is a complex process influenced by both extrinsic and intrinsic variables, and recommend that future studies aiming to understand the adoption process of agricultural innovations take into account both sets of variables. A mechanistic understanding of how intrinsic and extrinsic factors interact and drive adoption can help in targeting technologies appropriately to ensure sustainability.     

The influence of perceived uncertainty on entrepreneurial action in the transition to a low-emission energy infrastructure: The case of biomass combustion in The Netherlands

The transition towards renewable energy production will not occur without the involvement of entrepreneurs who dare to take action amidst uncertainty. In an earlier article, a conceptual model was introduced for analyzing how perceived uncertainties influence the decisions and actions of entrepreneurs involved in innovation projects that aimed at developing and implementing renewable energy technologies. In this article, the conceptual model is applied to stand-alone biomass combustion projects in the Netherlands. Although none of the biomass combustion projects has been abandoned, some entrepreneurs clearly have more difficulty to turn their project into a success than others. To create insight into the underlying dynamics of these projects, the article analyzes what types of positive or negative interaction patterns occur over time between (internal or external) factors in the project environment, perceived uncertainties, motivation and entrepreneurial action and how these patterns can be stimulated or prevented. The results provide several lessons to take into account when designing policies for stimulating the development and implementation of biomass combustion.     

Farmer organization,collective action and market access in Meso-America

Farmer organization and collective action are often seen as key factors in enhancing farmers’ access to markets. Often, too little attention is directed at (a) the most appropriate types of organization; (b) whether organization makes less or more sense in the case of producers of an undifferentiated commodity or a higher value product; (c) whether the public or private sector is best placed to support farmer organizations; and (d) the conditions necessary for ensuring their economic viability. Research in Mexico and Central America explored these issues for commodity maize and high value vegetables, respectively. The benefits of farmer organization are more evident in the vegetable sector, characterized by high transaction costs associated with market access. However, horticultural farmer organizations in Honduras and El Salvador include less than 5% of total horticultural producers. This is possibly due to farmer organizations’ limited business skills and non-replicable organizational models. There is less incentive for maize farmers to organize to access output markets as the transaction costs are relatively low. The benefits of maize farmer organization are clearer when it comes to accessing inputs such as credit, seed and fertilizer. Farmer organization is a critical factor in making markets work for the poor, but the role and timing of public and private investment in these organizations is poorly understood.     

Corporate giving in the Netherlands 1995-2003: exploring the amounts involved and the motivations for donating

• Corporate giving as an expression of corporate social responsibility (CSR) has been researched less than the more general theme of CSR. In addition, much of the research in this area focuses on countries with an Anglo cultural tradition.
• The study outlined in this paper offers a comprehensive longitudinal study of corporate giving in the Netherlands. An overview is provided of corporate giving in the Netherlands in the period from 1995 till 2003.
• The data are gathered by means of a biennial survey of Dutch companies as part of the ‘Giving in the Netherlands’ project. Based on these findings, recent developments in corporate giving can be sketched out.
• Moreover, literature on motives for corporate giving behavior is focused upon and applied in exploring Dutch managers' motivations for offering donations. Nonprofit organizations could use this knowledge to increase the efficiency of their fund raising.

Copyright © 2006 John Wiley & Sons, Ltd.