Economic analysis of a community-based falls prevention program

Objectives: To undertake a cost–benefit analysis of ‘Stay on Your Feet’, a community-based falls prevention program targeting older people at all levels of risk in New South Wales, Australia. Hospital separations were monitored in the intervention region, a control region and for the state of New South Wales as a whole. Changing admission patterns over the intervention period were used to assess the impact of the program.

Methods: Cost–benefit analysis compared the costs of the program with two estimates of savings from avoided hospital admissions. The first compared the cost of hospital admissions in the intervention region to a control region of similar demographics, while the second compared hospital utilization in the intervention region with the state of New South Wales as a whole using falls-related hospital diagnosis related group (DRG) codes.

Results: The total direct costs of the program were estimated at A$781 829. Both methods identified clear overall net benefits ranging from A$5.4 million for avoided hospitalizations alone to A$16.9 million for all avoided direct and indirect costs. The confidence intervals around these estimates were small. The average overall benefit to cost ratio for the intervention as a whole was 20.6:1.

Conclusions: These findings suggest that well-designed community-based interventions targeting falls prevention among older people are highly cost effective and a wise investment for all levels of government. The models used are conservative and are likely to underestimate the real benefit of the intervention, which may have lasted for some time beyond the life of the program.

An economic analysis of construction industries producer prices in Australia

Research on construction prices is significant for contractors and traders. A comprehensive understanding of construction prices may influence crucial decisions in business operation and arbitrage activities. This study focuses on the cointegration relationships of regional construction prices in Australia by using a range of econometric techniques including the stationarity test, the Engle-Granger cointegration approach and error correction model. The cointegration relationships amongst the regional construction prices are detected in this study. The application of the Engle-Granger cointegration approach examines the long run equilibrium relationships within the regional markets, and the error correction models explore the short run disequilibrium relationships. Results of this study suggest that the economic system in which construction industry participants operate is characterised by a highly competitive integrated marketplace. Furthermore, the causalities and diffusion patterns among the construction price indices in six states and two territories of Australia are drawn by the cointegration analysis. These outcomes reveal a pattern of diffusion paths and network linkages among the six states and two territories, and then expose the regional price linkages.

The economic analysis of prevention in mental health programs

This article introduces the role economics can play in deciding whether programs designed to prevent mental disorders, which carry large disease and economic burdens, are a worthwhile use of limited healthcare resources. Fortunately, preventive interventions for mental disorders exist; however, which interventions should be financed is a common issue facing decision makers, and economic evaluation can provide answers. Unfortunately, existing economic evaluations of preventive interventions have limited applicability to local healthcare contexts. An approach to priority setting largely based on economic techniques— Assessing Cost-Effectiveness (ACE)—has been developed and used in Australia to answer questions regarding the economic credentials of competing interventions. Eleven preventive interventions for mental disorders and suicide, mostly psychological in nature, have been evaluated using this approach, with many meeting the criteria of good value for money. Interventions targeting the prevention of suicide, adult and childhood depression, childhood anxiety, and early psychosis have particular merit.

A comprehensive analysis of foreign direct investment and economic growth

All three frameworks reveal a strong positive impact of FDI on economic growth. On average, economic growth appears to have been driven by FDI, human capital, domestic investment, openness to trade, and economic freedom. However, findings on the impact of growth on FDI are somewhat different across the three frameworks.

An empirical analysis of environmental strategy, eco-controls, environmental and economic performance

 This study provides empirical evidence on the role of eco-controls, in terms of both the style of use and bureaucratic stance towards eco-controls, as a critical mediating variable between an organisation’s level of proactive environmental strategy and its environmental and economic performance outcomes.

The impact of court delays on the prosecutor and the defendant: an economic analysis

One important aspect of the economic theory of criminal court delay is to understand how the prosecutor and the defendant make their decisions, and how these respond to changes in trial delay. If both parties jointly maximise expected utility, trial delay may increase or decrease the number of trials, depending upon the decision makers' attitudes towards risk. The main policy implication is that providing the criminal courts with more resources in the form of additional judges and court capacity may lengthen the trial queue rather than shorten it. This is a counterintuitive result contrary to popular belief.

Court delays and the defendant behaviour: an economic analysis

Court delays are consistently criticised as being inimical to social welfare. However, the theoretical basis for this assertion is not well established in the law and economics literature. As a first step, very little is known about the impact of court delay on the defendant's optimal plea decision. If the defendant is rational in the sense of inter temporally optimising, court delay may increase or decrease the probability of a trial depending on the defendant's bail status. Some empirical support for this theoretical proposition is found using data on plea behaviour for a selection of cases heard in NSW Australia.

Economic performance analysis of the Australian property sector using input-output tables

The property sector has played an important role with its growing contribution in the national income and employment in the Australian economy. There is an increasing research need in measuring and analysing the economic performance of the Australian property sector at a country level and input-output tables are considered as an appropriate tool. This paper aims to analyse and measure the performance and sectoral linkages of the Australian property sector using the five latest input-output tables compiled by the Australian Bureau of Statistics. Findings suggested that the Australian residential property sector had played a more important role than the commercial sector in the economy. The backward linkage of the residential property sector showed a decreasing economic pull, while that of commercial property presented an upward pattern. Moreover. the Australian property sector showed a medium economic push to the national economy over the examined period. Findings can aid policy makers, the property sector and researchers in evaluating the competitive ability of the property sector in Australia.

Ecotourism in Costa Rica: an economic framework of analysis

Costa Rica is a small Central American nation that has gained an international reputation as a leader in environmental conservation. This has formed the base for its highly successful and lucrative small-scale ecotourism industry. However, there are threats from high rates of deforestation and expanding large scale tourism that is trading on strong environmental credentials. This paper sets out an ecologically sustainable economic framework to firstly examine the Costa Rican experience, and then analyse lessons for general policy development of any ecotourism industry. The analysis is conducted from a political economy perspective on the trade-offs between small-scale and large-scale tourism.

Inflation and economic growth : a comparative analysis of Australia and the Philippines

Investigates the effects of inflation on economic growth in Australia and the Philippines using time-series data for each country. Uses time-series quarterly data sets covering the period 1970-1995 for Australia and 1950-1994 for the Philippines. A production function approach is used. Inflation was found to have a negative and statistically significant but differing impact on growth in both countries.