The Impact of Tobacco Production Liberalization on Smallholders in Malawi

Burley tobacco production in Malawi was liberalized to permit production by smallholders in the early 1990s. The purpose of this paper is to show which smallholders began producing burley tobacco after liberalization and which smallholders still continue to produce it. Analysis of the characteristics of burley tobacco producers shows that only smallholders who had adequate farm size and adequate funds could start to produce it. With regard to the farm size requirements, only smallholders who had enough acreage to sell tobacco on the auction floors and who had enough acreage to rotate crops could start to produce. With regard to the financial requirements, only smallholders who could procure funds through informal institutions or who possessed their own capital to meet the necessary agricultural expenditures could start. So, it was only the wealthy households which could start to produce tobacco after liberalization and continue to produce it.

Measuring Fiscal Decentralization in the Philippines

This paper focuses on the fiscal decentralization in the Philippines after the 1991 Local Government Code. It first examines the intergovernmental fiscal relationship between central and local governments by using fiscal decentralization indicators, and then investigates its impact on local finance. After fiscal decentralization, the local expenditure responsibility is expanded while the local fiscal capacity is not strengthened in the Philippines. Local governments consequently comes to depend heavily on fiscal transfers from the central government, internal revenue allotments (IRAs), which has a substantial influence on local finance. The heavy dependence on IRAs makes local finance unpredictable and unstable. The distribution of IRAs also affects the horizontal balance between provincial governments.

Letter from John Cooper to William Tudor,

One letter regarding the death of Tudor’s father and the acreage of his estate.

Influence of the Common Agricultural Policy and Heterogeneous Land Quality on Land Rent and Land Allocation. Factor Markets Working Paper No. 38, March 2013

Against the background of the current discussion about the EU’s common agricultural policy (CAP) after 2013, the question of the impact of government support on land prices is crucially important. Validation of the CAP’s success also hinges on a proper assessment of a choice of policy instruments. This study therefore has the objective of investigating on a theoretical basis the effects of different government support measures on land rental prices and land allocation. The different measures under consideration are the price support, area payments and decoupled single farm payments (SFPs) of the CAP. Our approach evaluates the potential impact of each measure based on a Ricardian land rent model with heterogeneous land quality and multiple land uses. We start with a simple model of one output and two inputs, where a Cobb-Douglas production technology is assumed between the two factors of land and non-land inputs. In a second step, an outside option is introduced. This outside option, as opposed to land use of the Ricardian type, is independent of land quality. The results show that area payments and SFPs become fully capitalised into land rents, whereas in a price support scheme the capitalisation depends on per-acreage productivity. Moreover, in a price support scheme and a historical model, the capitalisation is positively influenced by land quality. Both area payments and price supports influence land allocation across different uses compared with no subsidies, where the shift tends to be larger in an area payment scheme than in a price support scheme. By contrast, SFPs do not influence land allocation.

The Brazilian real estate securitization market: determinants of pricing

Analisamos os determinantes de precificação de Certificados de Recebíveis Imobiliários (CRIs) com relação ao ativo objeto e níveis de garantias, controlando por variáveis de tamanho, prazo e rating. Verifica-se um prêmio médio adicional em CRIs de 1,0 p.p. quando comparados com debêntures de prazos semelhantes e de mesmo rating. A justificativa desse prêmio é analisada em duas frentes: (a) apesar de CRI seguir relativa padronização, encontramos que o papel pode representar diferentes níveis de risco e ativos-objeto; e (b) essa falta de padronização leva a níveis de precificação diferenciados por suas características específicas de riscos. Os diferentes níveis de risco são percebidos pelas diversas garantias utilizadas sendo que 41% das emissões possuem garantias pessoais de originadores (aval ou fiança). Conclui-se que existe, em geral, uma diferença de retornos positiva (o spread médio na emissão dos CRIs indexados à inflação foi de 321 bps superior à curva de juros de mercado), sendo mais preponderante a depender do segmento (prêmio para os segmentos residencial e loteamentos) e mitigado pelo nível de garantias oferecido. É possível verificar um prêmio médio de 1,4 p.p. para os segmentos residencial e de loteamentos. Algumas características das emissões foram analisadas como controle (tamanho, prazo e, por fim, das notas e origem da agência avaliadora de rating). Os CRIs de maior volume e maior prazo apresentam spreads menores. Quanto ao rating, os CRIs apresentam efeitos diversos a depender do segmento. Para CRIs residenciais, o efeito é positivo (redução de spread) caso a emissão seja avaliada por alguma agência de rating, enquanto que para os CRIs comerciais, o efeito é negativo. O efeito pode ser positivo para os CRIs comerciais (redução de spread) em caso de avaliação por agência de rating internacional ou possuir notas de rating superiores à nota ‘A’.

Report to the Legislature on Senate Concurrent resolution no. 27 (Legislature of 1921),

The Senate Concurrent resolution provides "That the State board of forestry be and hereby is directed to examine such areas and to report to the Legislature, at its next regular session, the situation and approximate acreage of such areas as are most valuable for reforestation or recovering with other vegetable protection, and to report a plan whereby they may be reforested or otherwise covered with protective vegetation".--p. [9]

Petroleum industry in Illinois, 1959 /

pt. 1. Oil and gas developments. Introduction -- Production and economics -- Drilling and development -- Productive acreage -- Estimated petroleum reserves -- Gas and gas products -- Underground gas storage -- pt. 2. Waterflood operations. Introduction -- Summary -- Project numbers, by county -- Illinois waterfloods operating during 1959 -- Illinois pressure maintenance projects using water injection during 1959 -- Illinois waterflood projects reported abandoned.

Petroleum industry in Illinois in 1957.

pt. 1. Oil and gas developments. Introduction -- Production and value -- Drilling and development -- Productive acreage -- Estimated petroleum reserves -- Gas and gas products -- Underground gas storage -- County reports -- pt. 2. Waterflood operations. Introduction -- Summary of results -- Project numbers, by county -- Illinois waterflood projects operating during 1957 -- Illinois waterflood projects reported abandoned -- Illinois pressure maintenance projects using water injection during 1957.

Fifteenth census of the United States : 1930 : [Reports]

v. 7 cataloged separately.

Land and water report /

Report year ends June 30.

Report of the statistician

Crop reports, relating to acreage, yield per acre, condition, progress, etc.: imports and exports of various farm products; statistics of farm animals and other agricultural interests in theUnited States and foreign countries; freight rates of transportation companies, etc., etc.

Directing the Secretary of the Interior to convey certain land held in trust for the Paiute Indian Tribe of Utah to the city of Richfield, Utah, and for other purposes : report (to accompany H.R. 680).

"November 7, 2005."

Sand Creek Massacre National Historic Site Trust Act of 2005 : report (to accompany S. 57).

"March 8, 2005."

California vegetable crops.

Mode of access: Internet.

Urban ecosystems – tapping the human resource

In order to take an interest in environmental issues, people need an idea of what ‘the environment’ is, and to have access to something worth caring about. In the UK, around 90% of us already live in towns or cities, and by 2030, around 60% of the world’s population will live in urban areas. But without a vocal set of ‘owners’, public land such as parks and allotments can easily be lost. The majority of the UK's ‘natural’ areas have historically been created, managed or modified by humans. and we should appreciate urban habitats just as much as pristine reserves for the ecosystem services they provide. In particular, scruffy and overlooked brownfield sites can be amazing refugia for insect and plant species which can no longer persist in a countryside dominated by industrialised agriculture.