Economics, Wildlife Tourism and Conservation: Three Case Studies

This report presents the results of an economics component of the National Interdisciplinary Project (NIP) on wildlife tourism in Australia. The main objectives of the study were to outline and assess the role that economics can play in the valuation and management of wildlife-based tourism, undertake appropriate case studies to highlight the value of economics and its limits in assessing wildlife tourism in each case, take into account relevant environmental issues involved in wildlife tourism, and make future recommendations.

Optimal reserve management and sovereign debt

Most models currently used to determine optimal foreign reserve holdings take the level of international debt as given. However, given the sovereign`s willingness-to-pay incentive problems, reserve accumulation may reduce sustainable debt levels. In addition, assuming constant debt levels does not allow addressing one of the puzzles behind using reserves as a means to avoid the negative effects of crisis: why do not sovereign countries reduce their sovereign debt instead? To study the joint decision of holding sovereign debt and reserves, we construct a stochastic dynamic equilibrium model calibrated to a sample of emerging markets. We obtain that the reserve accumulation does not play a quantitatively important role in this model. In fact, we find the optimal policy is not to hold reserves at all. This finding is robust to considering interest rate shocks, sudden stops, contingent reserves and reserve dependent output costs. (c) 2008 Elsevier B.V. All rights reserved.

Social Movements Beyond the Iron Cage: Weak Ties in Territorial Development

The incentives and governance system of organizations are important in explaining how they behave in localized development processes. This article builds on the observation that the literature on territorial development does not generally address the action of social movements. At the same time, research on social movements rarely studies their effects on the territories ill which they act. This text is a contribution to fill this gap. It compares two social movement organizations: a trade union federation and a credit cooperative system operating throughout southern Brazil, Both organizations share common origins and social bases, yet their impacts oil territories have been quite different. The analysis focuses Oil the social ties that link trade unions and cooperatives to their territories to show that governance systems may explain the performance of each organization, especially with regard to their capacity for innovation. (c) 2008 Elsevier Ltd. All rights reserved.

Globalisation and the technology gap: Regional and time evidence

This chapter examines the relationship between globalisation and technological progress. It computes an annual and country specific measure of technological gap, the technology ratio (TGR), using a recently proposed method known as metafrontiers. The TGR is measured as the distance from a group frontier to the global (or meta) frontier. The TGRs provide a measure to compare technological capability across countries. The ranking obtained from the metafrontiers method is first compared to other methods based on the direct measure of patents, science articles, schooling etc. The TGRs are then related to levels of trade openness and inbound and outbound foreign direct investment within regions and overtime in an effort to identify the relationship between technological gap and outward orientation.