Potential economic implications for regional tourism of a Foot and Mouth Disease outbreak in North Queensland

International and domestic tourism are sensitive to disastrous events which make areas inaccessible to visitors, less attractive or more dangerous. One form of tourism disaster is the outbreak of an exotic disease, of which Foot and Mouth Disease (FMD) is a prime case. It is now well documented that the 2001 FMD outbreak in the UK had a greater impact on tourism than on agriculture. It has been estimated than an FMD outbreak in Australia would impose a cost of about $13 million. The impact on tourism would be highly dependent on the extent and duration of an FMD outbreak, as well as on any management and containment restrictions imposed by the authorities in their attempt to control and eventually eradicate the disease. Public perception and thus the provision of accurate information and the way in which the media report disasters will also play an important role in determining the impact on the tourism industry. The economy of Tropical North Queensland relies heavily on international visitors, and an FMD outbreak in the region would impose a large cost to the regional economy, conservatively estimated here to be of the order of $200 million per year.

Implications of seasonal climate forecasts on world wheat trade: a stochastic, dynamic analysis

Improvements in seasonal climate forecasts have potential economic implications for international agriculture. A stochastic, dynamic simulation model of the international wheat economy is developed to estimate the potential effects of seasonal climate forecasts for various countries' wheat production, exports and world trade. Previous studies have generally ignored the stochastic and dynamic aspects of the effects associated with the use of climate forecasts. This study shows the importance of these aspects. In particular with free trade, the use of seasonal forecasts results in increased producer surplus across all exporting countries. In fact, producers appear to capture a large share of the economic surplus created by using the forecasts. Further, the stochastic dimensions suggest that while the expected long-run benefits of seasonal forecasts are positive, considerable year-to-year variation in the distribution of benefits between producers and consumers should be expected. The possibility exists for an economic measure to increase or decrease over a 20-year horizon, depending on the particular sequence of years.

A tale of two cities: Education responds to globalisation in Hong Kong and Singapore in the aftermath of the Asian economic crisi

It has been suggested that although the most theorisation about globalisation has emerged from “western” contexts, the material implications of globalisation have been felt most strongly in non-western regions. With this in mind, we are undertaking a situated analysis of how two states, Singapore and Hong Kong, are interacting with the broader processes of globalisation through their educational policies. We apply Foucault's conceptual tool of governmentality to understand (i) the conduct of governing in the contemporary nation-state, and (ii) how the “right” rationalities are being inculcated by government to create “desiring subjects” who will play their part in ensuring national prosperity. We use the Asian Economic Crisis as a point of departure to show how global-local tensions are being managed by Singapore and Hong Kong. We conclude that both these global cities have adroitly managed the Asian economic crisis to steer their citizens away from pursuits of greater political freedom and towards concerns of material well being. They have done so through a selective interpretation of globalisation, by simultaneously resisting and embracing the contradictory strands of globalisation. Education has emerged as a critical space for this selective absorption of globalising trends.

The changing public-private infrastructure mix: Economy-wide implications

This article provides an economy-wide perspective on the changing role of the public sector in developing economic and social infrastructure in Australia. It analyses the scale and macroeconomic significance of the key economic and social infrastructure sectors - communication services, electricity, gas and water supply, transport, education, health and community services, government administration and defence. It then canvasses the major policy issues that have arisen in the progression from public to private infrastructure provision and considers why concerns about the trend fall in traditional public works spending may be misplaced in light of recent economic and institutional changes.

Economic competition and evolution: Are there lessons from ecology?

After generally discussing models in ecology and economics that combine competition, optimization, and evolution, this article concentrates on models of intraspecific competition. It demonstrates the importance of diversity/inequalities within populations of species and other environments for the sustainability of their populations, given the occurrence of environmental change. This is demonstrated both for scramble (open-access) and contest competition. Implications are drawn for human populations and industrial organization. The possibility is raised that within-industry competition may not always exist between firms in all stages of the development of a new industry. Policy implications are considered. For example, it is argued that policies designed to encourage intense business competition and maximum economic efficiency have the drawback of eventually making industries highly vulnerable to exogenous economic changes.

Geochronology of the Pengjiakuang and Rushan gold deposits, Eastern Jiaodong Gold Province, Northeastern China: Implications for regional mineralization and geodynamic setting

The Jiaodong gold province, the largest gold-producing district in China, is located in the jiaodong peninsula at the eastern margin of the North China craton and bounded by the continental scale Tan-Lu fault, 40 kin to the west. Previous geochronological studies suggest that pervasive gold deposition took place in the western part of the province between 122 and 119 Ma. Here we report high-quality Ar-40/Ar-39 ages of the Pengjiakuang and Rushan deposits from the eastern part of the jiaodong gold province, placing additional chronological constraints on the timing of regional mineralization. Seven sericite grains extracted from auriferous alteration assemblages at the Pengiiakuang deposit yielded well-defined plateau ages between 120.9 +/- 0.4 and 119.1 +/- 0.2 Ma (2 sigma). Three separates of igneous biotite from a sample of the Queshan gneissic granite, adjacent to the Pengjiakuang deposit, gave reproducible plateau ages of 124.6 +/- 0.6 to 123.9 +/- 0.4 Ma (2 sigma). Six sericite separates front two samples in the Rushan deposit yielded Ar-40/Ar-39 plateau ages at 109.3 +/- 0.3 to 107.7 +/- 0.5 Ma (2 sigma), whereas biotite from the Kunyushan monzogranite that hosts the Rushan deposit had plateau ages ranging from 129.0 +/- 0.6 to 126.9 +/- 0.6 Ma (3 separates front one sample). The apparent age gap between hydrothermal sericite and magmtic biotite from both deposits, together with the similar argon closure temperatures for these mica minerals, suggest that gold mineralization had no direct relationship to the granitoid magmatism. Instead, gold deposition coincided with the emplacement of mafic to intermediate dikes widespread in the jiaodong gold province, which have been dated at ca. 122 to 119 Ma and, less commonly, at 110 to 102 Ma. The new Ar-40/Ar-39 ages from the eastern jiaodong peninsula, when combined with published data from the western part suggest that gold mineralization was broadly contemporaneous throughout the district. The Early Cretaceous gold mineralization also is widely developed in four other major gold districts along the Tan-Lu fault. The temporal and spatial correlation of these gold deposits with mafic to intermediate dikes commonly found in most mineralized areas, the presence of well-documented metamorphic core complexes and half-graben basins along the Tan-Lu fault, and voluminous basalts therein, suggest that the Early Cretaceous was an important period of lithospheric extension, possibly caused by the late Mesozoic lithospheric thinning beneath the eastern block of the North China craton. Lithospheric thinning and extension could have resulted in abnormally high heat and fluid fluxes necessary for large-scaled gold mineralization.

Energy consumption, economic growth and prices: A reassessment using panel VECM for developed and developing countries

This paper reinvestigates the energy consumption-GDP growth nexus in a panel error correction model using data on 20 net energy importers and exporters from 1971 to 2002. Among the energy exporters, there was bidirectional causality between economic growth and energy consumption in the developed countries in both the short and long run, while in the developing countries energy consumption stimulates growth only in the short run. The former result is also found for energy importers and the latter result exists only for the developed countries within this category. In addition, compared to the developing countries, the developed countries' elasticity response in terms of economic growth from an increase in energy consumption is larger although its income elasticity is lower and less than unitary. Lastly. the implications for energy policy calling for a more holistic approach are discussed. (c) 2006 Elsevier Ltd. All rights reserved.