The impact of livestock assets among indigenous communities: findings from a comparative model in Bolivia

Measuring poverty has occupied a lot of space in the development discourse. Over the years a number of approaches have been offered to capture the experience of what it means to be poor. However, latterly such approaches often ignore core assets. Indeed, the comparative impact of livestock vs. other core assets such as land and education on poverty has not been well explored. Therefore, the authors created an 'asset impact model' to examine changes to both tangible and intangible assets at the household level, with a particular focus on gender and ethnicity among communities residing in the Bolivian Altiplano. The simple model illustrates that for indigenous women, a 20 per cent increase in the livestock herd has the same impact on household income as increasing the education levels by 20 per cent and household land ownership by 5 per cent. The study illustrates the potential role of a productive, tangible asset, i.e. livestock, on poverty reduction in the short term. The policy implications of supporting asset-focused measures of poverty are discussed.

Data assurance in opaque computations

The chess endgame is increasingly being seen through the lens of, and therefore effectively defined by, a data ‘model’ of itself. It is vital that such models are clearly faithful to the reality they purport to represent. This paper examines that issue and systems engineering responses to it, using the chess endgame as the exemplar scenario. A structured survey has been carried out of the intrinsic challenges and complexity of creating endgame data by reviewing the past pattern of errors during work in progress, surfacing in publications and occurring after the data was generated. Specific measures are proposed to counter observed classes of error-risk, including a preliminary survey of techniques for using state-of-the-art verification tools to generate EGTs that are correct by construction. The approach may be applied generically beyond the game domain.

Different risk measures: different portfolio compositions?

Traditionally, the measure of risk used in portfolio optimisation models is the variance. However, alternative measures of risk have many theoretical and practical advantages and it is peculiar therefore that they are not used more frequently. This may be because of the difficulty in deciding which measure of risk is best and any attempt to compare different risk measures may be a futile exercise until a common risk measure can be identified. To overcome this, another approach is considered, comparing the portfolio holdings produced by different risk measures, rather than the risk return trade-off. In this way we can see whether the risk measures used produce asset allocations that are essentially the same or very different. The results indicate that the portfolio compositions produced by different risk measures vary quite markedly from measure to measure. These findings have a practical consequence for the investor or fund manager because they suggest that the choice of model depends very much on the individual’s attitude to risk rather than any theoretical and/or practical advantages of one model over another.

HIV-related stigma, asset inheritance and chronic poverty: vulnerability and resilience of widows and caregiving children and youth in Tanzania and Uganda

This paper develops a framework of risk and protective factors to conceptualise the relationship between HIV-related stigma, asset inheritance and chronic poverty among widows and caregiving children and youth in eastern Africa. Analysis of two qualitative studies with 85 participants in rural and urban areas of Tanzania and Uganda reveals that gendered and generational inequalities and stigmatisation sometimes led to property grabbing and chronic poverty. Human and social capital and preventative measures however may help widows and caregiving young people in HIV-affected households to safeguard land and other assets, within a wider supportive environment that seeks to tackle structural inequalities.

Liquidity review: dimensions, causes, measures and empirical applications in real estate markets

Liquidity is a fundamentally important facet of investments, but there is no single measure that quantifies it perfectly. Instead, a range of measures are necessary to capture different dimensions of liquidity such as the breadth and depth of markets, the costs of transacting, the speed with which transactions can occur and the resilience of prices to trading activity. This article considers how different dimensions have been measured in financial markets and for various forms of real estate investment. The purpose of this exercise is to establish the range of liquidity measures that could be used for real estate investments before considering which measures and questions have been investigated so far. Most measures reviewed here are applicable to public real estate, but not all can be applied to private real estate assets or funds. Use of a broader range of liquidity measures could help real estate researchers tackle issues such as quantification of illiquidity premiums for the real estate asset class or different types of real estate, and how liquidity differences might be incorporated into portfolio allocation models.

The ASSET intercomparison of ozone analyses: method and first results

This paper aims to summarise the current performance of ozone data assimilation (DA) systems, to show where they can be improved, and to quantify their errors. It examines 11 sets of ozone analyses from 7 different DA systems. Two are numerical weather prediction (NWP) systems based on general circulation models (GCMs); the other five use chemistry transport models (CTMs). The systems examined contain either linearised or detailed ozone chemistry, or no chemistry at all. In most analyses, MIPAS (Michelson Interferometer for Passive Atmospheric Sounding) ozone data are assimilated; two assimilate SCIAMACHY (Scanning Imaging Absorption Spectrometer for Atmospheric Chartography) observations instead. Analyses are compared to independent ozone observations covering the troposphere, stratosphere and lower mesosphere during the period July to November 2003. Biases and standard deviations are largest, and show the largest divergence between systems, in the troposphere, in the upper-troposphere/lower-stratosphere, in the upper-stratosphere and mesosphere, and the Antarctic ozone hole region. However, in any particular area, apart from the troposphere, at least one system can be found that agrees well with independent data. In general, none of the differences can be linked to the assimilation technique (Kalman filter, three or four dimensional variational methods, direct inversion) or the system (CTM or NWP system). Where results diverge, a main explanation is the way ozone is modelled. It is important to correctly model transport at the tropical tropopause, to avoid positive biases and excessive structure in the ozone field. In the southern hemisphere ozone hole, only the analyses which correctly model heterogeneous ozone depletion are able to reproduce the near-complete ozone destruction over the pole. In the upper-stratosphere and mesosphere (above 5 hPa), some ozone photochemistry schemes caused large but easily remedied biases. The diurnal cycle of ozone in the mesosphere is not captured, except by the one system that includes a detailed treatment of mesospheric chemistry. These results indicate that when good observations are available for assimilation, the first priority for improving ozone DA systems is to improve the models. The analyses benefit strongly from the good quality of the MIPAS ozone observations. Using the analyses as a transfer standard, it is seen that MIPAS is similar to 5% higher than HALOE (Halogen Occultation Experiment) in the mid and upper stratosphere and mesosphere (above 30 hPa), and of order 10% higher than ozonesonde and HALOE in the lower stratosphere (100 hPa to 30 hPa). Analyses based on SCIAMACHY total column are almost as good as the MIPAS analyses; analyses based on SCIAMACHY limb profiles are worse in some areas, due to problems in the SCIAMACHY retrievals.

Strategic use of private standards to enhance international competitiveness: Vegetable exports from Kenya and elsewhere

The paper examines how European retailers are using private standards for food safety and,quality as risk management and competitive tools and the strategic responses of leading Kenyan and other developing country supplier/exporters to such standards. Despite measures to harmonize a 'single market', the European fresh produce market is very diverse in terms of consumer preferences, structural dynamics and attention to and enforcement of food safety and other standards. Leading Kenyan fresh produce suppliers have re-positioned themselves at the high end, including 'high care', segments of the market - precisely those that are most demanding in terms of quality assurance and food safety systems. An array of factors have influenced this strategic positioning, including relatively high international freight costs, the emergence of more effective competition in mainstream product lines, relatively low labor costs for produce preparation, and strong market relationships with selected retail chains. To succeed in this demanding market segment, the industry has had to invest substantially in improved production and procurement systems, upgraded pack house facilities, and quality assurance/food safety management systems. (C) 2005 Elsevier Ltd. All rights reserved.