Grower group case study on new farming practices in the Herbert region, Australia

Growers working together have proven to be a successful method for improving the utilization of farm resources and accelerating the adoption of the Sugar Yield Decline Joint Venture principles (SYDJV). The Pinnacle Precision Farming Group was formed in 2004 with the aim to bring together the ideas, knowledge and resources of growers in the Herbert region. Along with their common interest in controlled traffic, minimal tillage and crop rotations, the grower group utilize a farm machinery contractor to provide some of their major farming operations. This paper provides an insight into the changes made by the Pinnacle Precision Farming Group and their journey to adopt the new farming system practices. This paper also details the changes made by the group machinery contractor and a comparison of the old and new farming systems used by a group member. A focus point of the document is the impact of the new farming system on the economic, social and environmental components of the farming business. Analysis of the new farming system with a legume crop rotation revealed an increase in the farm gross margin by AU$22 024 and, in addition, a reduction in tractor operation time by 38% across the whole farm. This represents a return on marginal capital of 14.68 times the original capital outlay required by the group member. Using the new farming system without a legume crop will still improve the group members whole of farm gross margin by AU$6 839 and reduce tractor operation time by 43% across the whole farm. The Pinnacle Precision Farming group recognize the need to continually improve their farming businesses and believe that the new farming system principles are critical for the long term viability of the industry. [U$1 = AU$1.19].

Measuring the effects of mergers and acquisitions on the economic performance of real estate developers

Real estate developers in China are using mergers and acquisitions (M&As) to ensure their survival and competitiveness. However, no suitable method is yet available to assess whether such M&As provide enhanced value for those involved. Using a hybrid method of data envelopment analysis (DEA) and Malmquist total factor productivity (TFP) indices, this paper evaluates the short and medium term effects of M&As on acquirers’ economic performance with a set of 32 M&A cases occurring during 2000–2011 in China. The results of the analysis show that M&As generally have a positive effect on acquirers’ economic performance. Acquisitions on average experienced a steady growth in developer Malmquist TFP, a more progressive adoption of technology immediately after acquisition, a slight short-term decrease in technical efficiency after acquisition but followed by a marked increase in the longer term once the integration and synergy benefits were realised. However, there is no evidence to show whether developers achieved any short or long term scale efficiency improvements after M&A. The findings of this study provide useful insights on developer M&A performance from an efficiency and productivity perspective.

The clinical effectiveness and cost-effectiveness of exercise referral schemes: A systematic review and economic evaluation

- Background Exercise referral schemes (ERS) aim to identify inactive adults in the primary-care setting. The GP or health-care professional then refers the patient to a third-party service, with this service taking responsibility for prescribing and monitoring an exercise programme tailored to the needs of the individual. - Objective To assess the clinical effectiveness and cost-effectiveness of ERS for people with a diagnosed medical condition known to benefit from physical activity (PA). The scope of this report was broadened to consider individuals without a diagnosed condition who are sedentary. - Data sources MEDLINE; EMBASE; PsycINFO; The Cochrane Library, ISI Web of Science; SPORTDiscus and ongoing trial registries were searched (from 1990 to October 2009) and included study references were checked. - Methods Systematic reviews: the effectiveness of ERS, predictors of ERS uptake and adherence, and the cost-effectiveness of ERS; and the development of a decision-analytic economic model to assess cost-effectiveness of ERS. - Results Seven randomised controlled trials (UK, n = 5; non-UK, n = 2) met the effectiveness inclusion criteria, five comparing ERS with usual care, two compared ERS with an alternative PA intervention, and one to an ERS plus a self-determination theory (SDT) intervention. In intention-to-treat analysis, compared with usual care, there was weak evidence of an increase in the number of ERS participants who achieved a self-reported 90-150 minutes of at least moderate-intensity PA per week at 6-12 months' follow-up [pooled relative risk (RR) 1.11, 95% confidence interval 0.99 to 1.25]. There was no consistent evidence of a difference between ERS and usual care in the duration of moderate/vigorous intensity and total PA or other outcomes, for example physical fitness, serum lipids, health-related quality of life (HRQoL). There was no between-group difference in outcomes between ERS and alternative PA interventions or ERS plus a SDT intervention. None of the included trials separately reported outcomes in individuals with medical diagnoses. Fourteen observational studies and five randomised controlled trials provided a numerical assessment of ERS uptake and adherence (UK, n = 16; non-UK, n = 3). Women and older people were more likely to take up ERS but women, when compared with men, were less likely to adhere. The four previous economic evaluations identified suggest ERS to be a cost-effective intervention. Indicative incremental cost per quality-adjusted life-year (QALY) estimates for ERS for various scenarios were based on a de novo model-based economic evaluation. Compared with usual care, the mean incremental cost for ERS was £169 and the mean incremental QALY was 0.008, with the base-case incremental cost-effectiveness ratio at £20,876 per QALY in sedentary people without a medical condition and a cost per QALY of £14,618 in sedentary obese individuals, £12,834 in sedentary hypertensive patients, and £8414 for sedentary individuals with depression. Estimates of cost-effectiveness were highly sensitive to plausible variations in the RR for change in PA and cost of ERS. - Limitations We found very limited evidence of the effectiveness of ERS. The estimates of the cost-effectiveness of ERS are based on a simple analytical framework. The economic evaluation reports small differences in costs and effects, and findings highlight the wide range of uncertainty associated with the estimates of effectiveness and the impact of effectiveness on HRQoL. No data were identified as part of the effectiveness review to allow for adjustment of the effect of ERS in different populations. - Conclusions There remains considerable uncertainty as to the effectiveness of ERS for increasing activity, fitness or health indicators or whether they are an efficient use of resources in sedentary people without a medical diagnosis. We failed to identify any trial-based evidence of the effectiveness of ERS in those with a medical diagnosis. Future work should include randomised controlled trials assessing the cinical effectiveness and cost-effectivenesss of ERS in disease groups that may benefit from PA. - Funding The National Institute for Health Research Health Technology Assessment programme.

Income inequality in the process of economic development : An empirical approach

This thesis studies the effect of income inequality on economic growth. This is done by analyzing panel data from several countries with both short and long time dimensions of the data. Two of the chapters study the direct effect of inequality on growth, and one chapter also looks at the possible indirect effect of inequality on growth by assessing the effect of inequality on savings. In Chapter two, the effect of inequality on growth is studied by using a panel of 70 countries and a new EHII2008 inequality measure. Chapter contributes on two problems that panel econometric studies on the economic effect of inequality have recently encountered: the comparability problem associated with the commonly used Deininger and Squire s Gini index, and the problem relating to the estimation of group-related elasticities in panel data. In this study, a simple way to 'bypass' vagueness related to the use of parametric methods to estimate group-related parameters is presented. The idea is to estimate the group-related elasticities implicitly using a set of group-related instrumental variables. The estimation results with new data and method indicate that the relationship between income inequality and growth is likely to be non-linear. Chapter three incorporates the EHII2.1 inequality measure and a panel with annual time series observations from 38 countries to test the existence of long-run equilibrium relation(s) between inequality and the level of GDP. Panel unit root tests indicate that both the logarithmic EHII2.1 inequality measure and the logarithmic GDP per capita series are I(1) nonstationary processes. They are also found to be cointegrated of order one, which implies that there is a long-run equilibrium relation between them. The long-run growth elasticity of inequality is found to be negative in the middle-income and rich economies, but the results for poor economies are inconclusive. In the fourth Chapter, macroeconomic data on nine developed economies spanning across four decades starting from the year 1960 is used to study the effect of the changes in the top income share to national and private savings. The income share of the top 1 % of population is used as proxy for the distribution of income. The effect of inequality on private savings is found to be positive in the Nordic and Central-European countries, but for the Anglo-Saxon countries the direction of the effect (positive vs. negative) remains somewhat ambiguous. Inequality is found to have an effect national savings only in the Nordic countries, where it is positive.

Ecological and Socio Economic Assesment of Varthur Wetlnd, Bengaluru (India)

Wetlands are the most productive ecosystems, recognized globally for its vital role in sustaining a wide array of biodiversity and provide goods and services. However despite their important role in maintaining the ecology and economy, wetlands in India are endangered by inattention and lack of appreciation for their role. Increased anthropogenic activities such as intense agriculture practices, indiscriminate disposal of industrial effluents and sewage wastes have altered the physical, chemical as well as biological integrity of the ecosystem. This has resulted in the ecological degradation, which is evident from the current ecosystem valuation of Varthur wetland. Global valuation of coastal wetland ecosystem shows a total of 14,785/ha US$ annual economic value. An earlier study of relatively pristine wetland in Bangalore shows the value of Rs. 10,435/ha/day while the polluted wetland shows the value of Rs.20/ha/day. In contrast to this, Varthur, a sewage fed wetland has a value of Rs.118.9/ha/day. The pollutants and subsequent contamination of the wetland has telling effects such as disappearance of native species, dominance of invasive exotic species (such as African catfish), in addition to profuse breeding of disease vectors and pathogens. Water quality analysis revealed of high phosphates (4.22-5.76 ppm) level in addition to the enhanced BOD (119-140 ppm) and decreased DO (0-1.06 ppm). The amplified decline of ecosystem goods and services with degradation of water quality necessitates the implementation of sustainable management strategies to recover the lost wetland benefits.

Lessons from the northern hake long-term management plan: Could the economic assessment have accepted it?

An economic expert working group (STECF/SGBRE-07-05) was convened in 2007 for evaluating the potential economic consequences of a Long-Term Management Plan for the northern hake. Analyzing all the scenarios proposed by biological assessment, they found that keeping the F in the status quo level was the best policy in terms of net present values for both yield and profits. This result is counter intuitive because it may indicate that effort costs do no affect the economic reference points. However, it is well accepted that the inclusion of costs affects negatively the economic reference points. In this paper, applying a dynamic agestructured model to the northern hake, we show that the optimal fishing mortality that maximizes the net present value of profits is lower than Fmax.

The Annual Economic Survey of Federal Gulf Shrimp Permit Holders: Report on the Design, Implementation, and Descriptive Results for 2006

This technical memorandum documents the design, implementation, data preparation, and descriptive results for the 2006 Annual Economic Survey of Federal Gulf Shrimp Permit Holders. The data collection was designed by the NOAA Fisheries Southeast Fisheries Science Center Social Science Research Group to track the financial and economic status and performance by vessels holding a federal moratorium permit for harvesting shrimp in the Gulf of Mexico. A two page, self-administered mail survey collected total annual costs broken out into seven categories and auxiliary economic data. In May 2007, 580 vessels were randomly selected, stratified by state, from a preliminary population of 1,709 vessels with federal permits to shrimp in offshore waters of the Gulf of Mexico. The survey was implemented during the rest of 2007. After many reminder and verification phone calls, 509 surveys were deemed complete, for an ineligibility-adjusted response rate of 90.7%. The linking of each individual vessel’s cost data to its revenue data from a different data collection was imperfect, and hence the final number of observations used in the analyses is 484. Based on various measures and tests of validity throughout the technical memorandum, the quality of the data is high. The results are presented in a standardized table format, linking vessel characteristics and operations to simple balance sheet, cash flow, and income statements. In the text, results are discussed for the total fleet, the Gulf shrimp fleet, the active Gulf shrimp fleet, and the inactive Gulf shrimp fleet. Additional results for shrimp vessels grouped by state, by vessel characteristics, by landings volume, and by ownership structure are available in the appendices. The general conclusion of this report is that the financial and economic situation is bleak for the average vessels in most of the categories that were evaluated. With few exceptions, cash flow for the average vessel is positive while the net revenue from operations and the “profit” are negative. With negative net revenue from operations, the economic return for average shrimp vessels is less than zero. Only with the help of government payments does the average owner just about break even. In the short-term, this will discourage any new investments in the industry. The financial situation in 2006, especially if it endures over multiple years, also is economically unsustainable for the average established business. Vessels in the active and inactive Gulf shrimp fleet are, on average, 69 feet long, weigh 105 gross tons, are powered by 505 hp motor(s), and are 23 years old. Three-quarters of the vessels have steel hulls and 59% use a freezer for refrigeration. The average market value of these vessels was $175,149 in 2006, about a hundred-thousand dollars less than the average original purchase price. The outstanding loans averaged $91,955, leading to an average owner equity of $83,194. Based on the sample, 85% of the federally permitted Gulf shrimp fleet was actively shrimping in 2006. Of these 386 active Gulf shrimp vessels, just under half (46%) were owner-operated. On average, these vessels burned 52,931 gallons of fuel, landed 101,268 pounds of shrimp, and received $2.47 per pound of shrimp. Non-shrimp landings added less than 1% to cash flow, indicating that the federal Gulf shrimp fishery is very specialized. The average total cash outflow was $243,415 of which $108,775 was due to fuel expenses alone. The expenses for hired crew and captains were on average $54,866 which indicates the importance of the industry as a source of wage income. The resulting average net cash flow is $16,225 but has a large standard deviation. For the population of active Gulf shrimp vessels we can state with 95% certainty that the average net cash flow was between $9,500 and $23,000 in 2006. The median net cash flow was $11,843. Based on the income statement for active Gulf shrimp vessels, the average fixed costs accounted for just under a quarter of operating expenses (23.1%), labor costs for just over a quarter (25.3%), and the non-labor variable costs for just over half (51.6%). The fuel costs alone accounted for 42.9% of total operating expenses in 2006. It should be noted that the labor cost category in the income statement includes both the actual cash payments to hired labor and an estimate of the opportunity cost of owner-operators’ time spent as captain. The average labor contribution (as captain) of an owner-operator is estimated at about $19,800. The average net revenue from operations is negative $7,429, and is statistically different and less than zero in spite of a large standard deviation. The economic return to Gulf shrimping is negative 4%. Including non-operating activities, foremost an average government payment of $13,662, leads to an average loss before taxes of $907 for the vessel owners. The confidence interval of this value straddles zero, so we cannot reject, with 95% certainty, that the population average is zero. The average inactive Gulf shrimp vessel is generally of a smaller scale than the average active vessel. Inactive vessels are physically smaller, are valued much lower, and are less dependent on loans. Fixed costs account for nearly three quarters of the total operating expenses of $11,926, and only 6% of these vessels have hull insurance. With an average net cash flow of negative $7,537, the inactive Gulf shrimp fleet has a major liquidity problem. On average, net revenue from operations is negative $11,396, which amounts to a negative 15% economic return, and owners lose $9,381 on their vessels before taxes. To sustain such losses and especially to survive the negative cash flow, many of the owners must be subsidizing their shrimp vessels with the help of other income or wealth sources or are drawing down their equity. Active Gulf shrimp vessels in all states but Texas exhibited negative returns. The Alabama and Mississippi fleets have the highest assets (vessel values), on average, yet they generate zero cash flow and negative $32,224 net revenue from operations. Due to their high (loan) leverage ratio the negative 11% economic return is amplified into a negative 21% return on equity. In contrast, for Texas vessels, which actually have the highest leverage ratio among the states, a 1% economic return is amplified into a 13% return on equity. From a financial perspective, the average Florida and Louisiana vessels conform roughly to the overall average of the active Gulf shrimp fleet. It should be noted that these results are averages and hence hide the variation that clearly exists within all fleets and all categories. Although the financial situation for the average vessel is bleak, some vessels are profitable. (PDF contains 101 pages)

Techno-economic considerations of shark driftnet fishery, off Lagos coast, Nigeria

Experimental fishing operations with driftnets were conducted in Lagos coastal waters with a view to finding out appropriate gear for effective exploitation of sharks and other pelagic fish species that are not normally caught in trawls. The design and fabrication of the driftnets as well as the fishing trials were undertaken between May, 1977 and April, 1978. Six baited driftnet sets of equal panels with three stretched mesh sizes of 190.5mm; 228.6mm and 241.3mm were used. Analysis were carried out on species composition of catches, weight and number of species/group of fish, catch efficiency of the driftnets as well as on operating costs and financial returns

Overview and bibliography of the literature of socio-economic relevance to the fisheries of Lake Victoria

An overview is provided of the literature of socio-economic relevance to the fisheries of Lake Victoria. It covers the following areas: marketing studies; management; changes to the structure of the fishery; and, base-line studies. The bibliography provides a guide to the more important documents on Lake Victoria's socio-economy and includes a total of 177 references

A Social and Economic Characterization of the U.S. Gulf of Mexico Recreational Shark Fishery

A mail survey of tournament shark anglers and party boat shark anglers was completed to examine their fishing activity, attitudes, trip expenditures, and consumer surplus. A sample of 700 shark anglers was selected from tournaments in the Gulf of Mexico during 1990, and a sample of party boat shark anglers was drawn from Port Aransas, Tex., party boat anglers during the summer of 1991. A response rate of 58% (excluding nondeliverables) was obtained from tournament anglers. The sample of party boat shark anglers was too small to provide useful results. Tournament shark anglers reported fishing an average of 58 days per year and targeted sharks and other large marine species. Tournaments occupy a small portion of their fishing effort. If this group of anglers were not able to fish for sharks, one-third indicated no other species would be an acceptable substitute, while others were willing to substitute other large marine species. Shark trip expenditures averaged $197 per trip with a consumer surplus of $111 per trip. Based on MRFSS estimates of the number of shark fishing trips, we estimate a total of $43,355,000 was spent by shark anglers in the Gulf of Mexico with a consumer surplus of $23,865,000 for a total gross value of the shark fishery of $66,220,000. MRFSS estimates of the number of sharks landed indicate an equivalent use value of $183 per shark.

Economic analysis of climate change adaptation strategies in selected coastal areas in Indonesia, Philippines and Vietnam

This report is an account of a cross-country study that covered Vietnam, Indonesia and the Philippines. Covering four sites (one each in Indonesia and Vietnam) and two sites in the Philippines, the study documented the impacts of three climate hazards affecting coastal communities, namely typhoon/flooding, coastal erosion and saltwater intrusion. It also analyzed planned adaptation options, which communities and local governments can implement, as well as autonomous responses of households to protect and insure themselves from these hazards. It employed a variety of techniques, ranging from participatory based approaches such as community hazard mapping and Focus Group Discussions (FGDs) to regression techniques, to analyze the impact of climate change and the behavior of affected communities and households.

Economic analysis of climate change adaptation strategies in selected coastal areas in Indonesia, Philippines and Vietnam

Climate change with its attendant geophysical hazards is well studied. A great deal of attention has gone into analyzing climate change impacts as well as searching out possible mitigating adaptive strategies. These matters are very real concerns, especially for coastal communities. Such communities are often the most vulnerable to climate change, since their citizens frequently live in abject poverty and have limited capacity to adapt to geophysical hazards. Their situation is further complicated by the prospect of dealing with a confluence of hazards in comparison with those in other ecosystems. Against this backdrop Worldfish and the Economy and Environment Program for Southeast Asia (EEPSEA) collaborated to implement the cross-country study “Climate Change Impacts, Vulnerability Assessments, Economic and Policy Analysis of Adaptation Strategies in Selected Coastal Areas in Indonesia, Philippines, and Vietnam”. As its title suggests the study covered selected sites in Vietnam, Indonesia and the Philippines. Employing a gamut of interdisciplinary methodologies -- ranging from community-based approaches such as community hazard mapping and focus group discussions (FGDs) to regression techniques -- the study documented the impacts from three climate hazards affecting coastal communities. These were typhoon/flooding, coastal erosion, and saltwater intrusion. The team also analyzed planned adaptation options suited to implementation by communities and local governments, augmenting autonomous responses of households to protect and insure themselves from these hazards.

Techno-economic analysis of production and marketing of marine by-products in India

Marine by-products coming under the ancillary products group found many applications in pharmaceutical and industrial sectors. Although many of these products are fetching very high price at the export market, adequate statistics regarding their current production, marketing and utilisation is lacking. The present analysis deals with the production potential, level of exploitation, uses, export growth rate and potential for the future of some of these marine by-products. The analysis revealed that an estimated quantity of 205 t. of shells, 10 t. of gastropod operculum, 4,932 t. of shark liver oil and 4,384 t. of shark cartilage could be produced annually in India with the current landings. The production potential of chitin is estimated as 3,560 t. from shrimp shell wastes and 1,354 t. from crab shell wastes. The high unit value of different products clearly indicates the scope for their development by evolving appropriate utilisation and marketing strategies.

Some socio-economic aspects of the fishermen of twin pronged floodplain wetlands in West Bengal

A socio-economic investigation was carried out in two fishermen cooperative societies namely Purba Helatala Fishermen Co-operative Society (E-1), Barhal Fishermen Co-operative Society (E-2), under Maldah district, West Bengal to which the beels (flood plains) under study belong. A total of 132 member fishermen, which constituted the sample, were personally interviewed. The age group of the fishermen of the sample in E-1 varied between 20 and 66 years whereas in E-2 it was 22 and 61 years. All the members of the sample belonged to Scheduled Caste (SC) community. The primary occupation of all the respondents of both the beels was observed to be fishing (100%). Maximum number of illiterate respondents was observed to 56% in E-2 and 35% in E-1. It has been observed that as many as 38.3% of fishermen were having fishing experience which ranging from 16 to 20 years in E-1 whereas it was 6 - 10 years (36.1%) in E-2. Maximum number of fishermen lived in thatched houses (41.66%) in E-1 whereas in E-2 most of them lived in houses made of corrugated tin/tile shed (41.66%). As many as 41.55% of E-1 and 30.55% of E-2 used dug-out canoes for their fishing. Maximum number of fishermen used cast net with individualistic approach (100%) followed by Gill net (E-1:41.56% and E-2:55.55%). Most of the fishermen of the sample participated in fishing activities for 241 to 270 days (41.66%) in E-2 whereas it was 211 to 240 days (33.33 %) in E-1 in a year. During fishing season as many as 40.0% of the respondents of E-1 earned on an average Rs. 801.00 to Rs. 900.00 per month whereas it was Rs. 901.00 to Rs.1,000.00 (43.05%) in case of E-2. A section of fishermen of the sample borrowed money often (51.6%) E-1 whereas it was most often (27.27%) of E-2. The respondents of E-2 made regular repayment of the loan to the maximum extent (79.48%) whereas it was 57.44% in E-1. Higher fish production vis-a-vis higher income for the fishermen was observed in the beel (E2) having close characteristic.