Econometric Methods and their Applications in Finance, Macro and Related Fields

The volume aims at providing an outlet for some of the best papers presented at the 15th Annual Conference of the African Econometric Society, which is one of the “chapters” of the International Econometric Society. Many of these papers represent the state of the art in financial econometrics and applied econometric modeling, and some also provide useful simulations that shed light on the models' ability to generate meaningful scenarios for forecasting and policy analysis.

Levels of Arsenic and Other Trace Elements in Southern Libyan Agricultural Irrigated Soil and Non-irrigated Soil Projects

The levels of As and various other trace elements found in the irrigated agricultural soil (Tsoil) of southern Libya were compared with non-irrigated soil (Csoil) from the same sampling campaign collected between April and May 2008. The soil samples represented agronomic practice in the southern Libyan regions of Maknwessa (MAK), Aril (ARL) and Taswaa (TAS), and were analyzed by Inductively coupled plasma mass spectrometry (ICP-MS) for Co, Ni, Cu, Se, Mo, Zn, As, Pb, Cd and P. Concentrations of P and As in TAS and MAK were found to be higher in Tsoil compared to Csoil, while the opposite was true for ARL. In general, As concentrations in these areas were 2-3 times lower than the global average. In ARL, the average P concentrations of the Csoil samples were significantly higher than those of Tsoil samples: this site is composed mainly of pasture for animal production, where phosphate fertilizers are used regularly. Distance from the source of irrigation was found to be of an important influence on the heavy metal concentration of the soil, with greater concentrations found closer to the irrigation source. It can be concluded from the results that irrigation water contains elevated levels of As, which finds its way into the soil profile and can lead to accumulation of As in the soil over time.

Cyber Security Research: a vision for the UK: Finance challenges

Invited talk, representing the Royal Society

Neoliberalism, the University, Public Goods, and Agricultural Innovation

After World War II, most industrialising nations adopted some form of welfare-state approach to balance the economic activities of self-interested agents and social welfare. In the realm of scientific research and innovation, this often meant that governments took primary responsibility for funding public research organisations, including research universities and government laboratories. Over the past four decades, however, the significance of private funding for agricultural research has increased, and academic scientists now often work in public-private partnerships. We argue that this trend needs to be carefully monitored because public goods are likely to be overlooked and undervalued in such arrangements. In the interest of developing indicators to monitor the trend, we document public and private funding for agricultural research and agricultural innovation in four countries: the USA, the UK, Ireland and Germany. Our results show that although neoliberalism is evident in each country, it is not homogeneous in its application and impacts, suggesting that national and institutional contexts matter. This article is directed at stimulating debates on the relationships between university research, agricultural innovation and public goods.

Top incomes under finance-driven capitalism, 1990-2010: power resources and regulatory orders

This article examines the impact of financialisation on the income shares of the top 1% from 1990-2010, through a panel analysis of 14 OECD countries. Drawing together literatures stressing the dependence of income inequality on the structural bargaining power of capital relative to labour, and of the dependence of accumulation on underlying institutionalised modes of state regulation, it shows that financialisation has significantly enhanced top income shares net of underlying controls. Whilst the income shares of the top 1% appear responsive to variables typical of wider studies of personal income inequality, we emphasise distinctive mechanisms of top income growth linked to the rising dominance of financial instruments and actors, facilitated by a historically specific regulatory order. These conditions were key to the emergence of a state of ‘asymmetric bargaining’ which disproportionately enhanced the fortunes of the wealthy. Results thus emphasise the importance of class-biased power resources and underlying regulatory structures, as determinants both of income concentration and of the distribution of economic rewards beyond growth capacity alone.

Accessory minerals and potentially toxic elements in Tanzanian vermiculites with respect to agricultural applications

The study assessed accessory minerals and metals in Tanzanian vermiculites with respect to their potential suitability for agricultural applications. Mineral and chemical analyses were involved. Pot experiments were also conducted to assess plant uptake of metals from soil with vermiculites. Fibrous sepiolite and amphiboles were minerals of health concern found in some samples. The sepiolite fibers had aspect ratios similar to those of asbestos minerals, which cause respiratory disorders and lung cancer when inhaled and thus pose a potential health risk to animals and humans. The amphibole fibers were thicker than 10 μm and are unlikely to be inhaled. Chromium (Cr) and nickel (Ni) concentrations in some samples were greater than the limits permitted in agricultural soils, but the elements are not highly plant available and do not inhibit the uptake of essential macronutrients. Heating vermiculites at 400-600° C enhanced extractability of Cr and Ni and should preferably be avoided. © Taylor & Francis Group, LLC.

Mineralogical and chemical characterization of some vermiculites from the mozambique belt of tanzania for agricultural use

Vermiculite minerals are locally available in the Mozambique Belt of Tanzania but are not currently commercially exploited. In part this may be due to lack of any precise characterization. This study was carried out as a first step to assess the suitability of these vermiculites for crop production by characterization of their mineralogical and chemical compositions. X-ray diffraction and scanning electron microscopy combined with an energydispersive X-ray system were used to establish the mineralogy. Electron microprobe analysis and inductively coupled plasma-mass spectrometry were used to study the chemical compositions and to identify any possible issues related to chemical composition that might affect their use if applied as soil conditioners. The samples were characterized as vermiculites and hydrobiotites with a wide variety of accessory minerals. Accessory minerals that might be of some concern are galena, fibrous amphiboles and sepiolite. The total levels of Ni in all vermiculites, and Cr in some, were also found to be high relative to common European standards and this might limit their potential as soil conditioners. It is clear that a field assessment of the bioavailability of various elements would be necessary before decisions relating to potential agricultural use could be made. © 2009 The Mineralogical Society.