State Banks and Economic Development in China

State-owned banks remain dominant in China's financial sector despite over two decades of gradual financial liberalization. Their performance is typically evaluated using commercial banking criteria. The standard view is that because state banks have experienced declining profitability and capital adequacy, they have been a drain on past economic development and endanger future growth prospects. However, we argue that state banks have strong development bank characteristics and hence warrant different performance criteria. The analysis in this paper suggests that while thier commercial performance may have been poor, the overall impact of state banks on China's economic development appears to have been both positive and sustainable. Copyright © 2001 John Wiley & Sons, Ltd.

Capacity utilisation and profitability: A decomposition of short-run profit efficiency

The principal aim of this paper is to measure the amount by which the profit of a multi-input, multi-output firm deviates from maximum short-run profit, and then to decompose this profit gap into components that are of practical use to managers. In particular, our interest is in the measurement of the contribution of unused capacity, along with measures of technical inefficiency, and allocative inefficiency, in this profit gap. We survey existing definitions of capacity and, after discussing their shortcomings, we propose a new ray economic capacity measure that involves short-run profit maximisation, with the output mix held constant. We go on to describe how the gap between observed profit and maximum profit can be calculated and decomposed using linear programming methods. The paper concludes with an empirical illustration, involving data on 28 international airline companies. The empirical results indicate that these airline companies achieve profit levels which are on average US$815m below potential levels, and that 70% of the gap may be attributed to unused capacity. (C) 2002 Elsevier Science B.V. All rights reserved.

Optimising profitability and environmental trade-offs in managing cropping systems using differential evolution

Whilst traditional optimisation techniques based on mathematical programming techniques are in common use, they suffer from their inability to explore the complexity of decision problems addressed using agricultural system models. In these models, the full decision space is usually very large while the solution space is characterized by many local optima. Methods to search such large decision spaces rely on effective sampling of the problem domain. Nevertheless, problem reduction based on insight into agronomic relations and farming practice is necessary to safeguard computational feasibility. Here, we present a global search approach based on an Evolutionary Algorithm (EA). We introduce a multi-objective evaluation technique within this EA framework, linking the optimisation procedure to the APSIM cropping systems model. The approach addresses the issue of system management when faced with a trade-off between economic and ecological consequences.

Clifford Geertz, 1926-2006: Meaning, method, and Indonesian economic history

Clifford Geertz was best known for his pioneering excursions into symbolic or interpretive anthropology, especially in relation to Indonesia. Less well recognised are his stimulating explorations of the modern economic history of Indonesia. His thinking on the interplay of economics and culture was most fully and vigorously expounded in Agricultural Involution. That book deployed a succinctly packaged past in order to solve a pressing contemporary puzzle, Java's enduring rural poverty and apparent social immobility. Initially greeted with acclaim, later and ironically the book stimulated the deep and multi-layered research that in fact led to the eventual rejection of Geertz's central contentions. But the veracity or otherwise of Geertz's inventive characterisation of Indonesian economic development now seems irrelevant; what is profoundly important is the extraordinary stimulus he gave to a generation of scholars to explore Indonesia's modern economic history with a depth and intensity previously unimaginable.

Economic , Educational and Conservation Benefits of Sea Turtle Based Ecotourism: A Study Focused on Mon Repos

The study examines the economic, educational and conservation values of sea turtle-based ecotourism in Australia. The centre-piece of this research is a case study undertaken at the Mon Repos Conservation Park located near the town of Bundaberg, Queensland. Each year from mid-November to end of March, thousands of visitors visit Mon Repos Conservation Park to view sea turtles either nesting on the one km stretch of beach or to see hatchlings emerge from their nests and march on to the sea or both. As a result of this activity there are considerable economic benefits to the Bundaberg region during the sea turtle season. The study examines the economic impact of sea turtle viewing at Mon Repos to the region. The study assesses the recreational value of sea turtle viewing. Furthermore, sea turtle-based ecotourism also provides educational and conservation benefits that are important for the protection and conservation of sea turtles, especially in Australia. The study specifies the extent of the educational impact and conservation appreciation of sea turtle viewing at Mon Repos Conservation Park. As a background to the study, Mon Repos visitors’ profile and socio-economic data of visitors are provided. In order to conduct this study, 1,200 survey forms were distributed, out of which 519 usable responses were obtained.