Returns to farm-level soil conservation on tropical steep slopes: The case of the Eritrean highlands

This study conducts an economic analysis of investment in simple soil conservation technologies in the highlands of Eritrea. The data used in the analysis were obtained from a farm survey and supplemented with data from secondary sources. Risk analysis techniques are used to take account of the uncertainties regarding the relationship between soil erosion and crop yield. The financial analysis reveals negative net present values (NPVs) and internal rates of return (IRRs) below 12 per cent for various slope categories. On the other hand, the economic analysis returns positive NPVs and IRRs of over 20 per cent. The results clearly indicate that in-vestment in soil conservation technology may not be a viable short-term proposition from the farmer's point of view and yet the net social benefits are positive. There is a strong case for government to provide incentives for soil conservation in view of the economic benefits.

Review of 'The Thai Village Economy in the Past'

This charmingly old-fashioned little book was first published in Thai in 1984, and now appears in an elegant English translation. The two major intellectual influences that gave it birth are rather older, dating from the 1950s, 1960s, and early 1970s. The first developed from the intersection of the academic pre-eminence of varieties of Marxist thinking about the Third World and the struggles of anticolonial peasant-based revolutionaries and produced a high age of romanticism about the Southeast Asian village and the unfortunate victims who inhabited them. The origins of the second are more uncertain, but probably represent, paradoxically, a Thai appropriation of those Western social-science constructions of Thai cultural uniqueness which were especially popular in the 1950s and 1960s.

A note on the decomposition of the health concentration index

In recent work, the concentration index has been widely used as a measure of income-related health inequality. The purpose of this note is to illustrate two different methods for decomposing the overall health concentration index using data collected from a Short Form (SF-36) survey of the general Australian population conducted in 1995. For simplicity, we focus on the physical functioning scale of the SF-36. Firstly we examine decomposition 'by component' by separating the concentration index for the physical functioning scale into the ten items on which it is based. The results show that the items contribute differently to the overall inequality measure, i.e. two of the items contributed 13% and 5%, respectively, to the overall measure. Second, to illustrate the 'by subgroup' method we decompose the concentration index by employment status. This involves separating the population into two groups: individuals currently in employment; and individuals not currently employed. We find that the inequality between these groups is about five times greater than the inequality within each group. These methods provide insights into the nature of inequality that can be used to inform policy design to reduce income related health inequalities. Copyright (C) 2002 John Wiley Sons, Ltd.

Bayesian analysis of the error correction model

This paper presents a method for estimating the posterior probability density of the cointegrating rank of a multivariate error correction model. A second contribution is the careful elicitation of the prior for the cointegrating vectors derived from a prior on the cointegrating space. This prior obtains naturally from treating the cointegrating space as the parameter of interest in inference and overcomes problems previously encountered in Bayesian cointegration analysis. Using this new prior and Laplace approximation, an estimator for the posterior probability of the rank is given. The approach performs well compared with information criteria in Monte Carlo experiments. (C) 2003 Elsevier B.V. All rights reserved.

Student characteristics and academic success: An econometric study of the performance of "equity groups"

Like previous volumes in the Educational Innovation in Economics and Business Series, this book is genuinely international in terms of its coverage. With contributions from nine different countries and three continents, it reflects a global interest in, and commitment to, innovation in business education, with a view to enhancing the learning experience of both undergraduates and postgraduates. It should prove of value to anyone engaged directly in business education, defined broadly to embrace management, finance, marketing, economics, informational studies, and ethics, or who has responsibility for fostering the professional development of business educators. The contributions have been selected with the objective of encouraging and inspiring others as well as illustrating developments in the sphere of business education. This volume brings together a collection of articles describing different aspects of the developments taking place in today’s workplace and how they affect business education. It describes strategies for breaking boundaries for global learning. These target specific techniques regarding teams and collaborative learning, transitions from academic settings to the workplace, the role of IT in the learning process, and program-level innovation strategies. This volume addresses issues faced by professionals in higher and further education and also those involved in corporate training centers and industry.

An Economic Analysis of the Legal Concept of Trustees' Power of Investment

Authorised trustee status is a legal concept which has economic implications; one of the major implications is that it assists in the direction of investment funds into particular securities and areas of the economy. The concept of authorised trustee status, while attempting to achieve specific outcomes for the beneficiaries of trusts cannot be relied upon to secure these results. Economic analysis of the role of the trustee maintains that this role is one of portfolio manager; a role which is complex but which is explicable in terms of definable procedures and practices. The role of trustee as portfolio manager is one which requires greater financial knowledge than can be assumed is possessed by all trustees. The trustee as portfolio manager is required to maintain a review of decisions make under powers to invest trust assets. A solution to the problem of authorised trustee status is proposed. The solution takes two parts: the first is the adoption of the prudent person approach but with the codification of duties of the trustee and the explicit listing of the factors that a trustee should consider in using the investment powers. The second part of the proposed solution is to link the investment powers of trustees to the best practice features of securities advisers who are now licensed by a regulatory body, the Australian Securities and Investment Commission.