Suchergebnisse

We consider the application of self-financing tax/subsidy mechanisms in environmental regulation and explore the question whether these mechanisms yield strong investment incentives in a market with many firms under Cournot competition. It turns out that the tax/subsidy mechanism with the announcement of the subsidy rate and the tax/subsidy mechanism with the announcement of the tax rate work for an arbitrary number of firms, which means that they yield strong incentives for investing in environmentally friendly technologies. The announcement of the subsidy rate is preferable for solving hold-up problems.

We analyze how public policies for self-financing education, public fund for loans and deferred deductibility of education expenses, affect growth in an overlapping generations economy where individuals can be borrowing-constrained on human capital investment. We show that public loans positively affect growth in the unconstrained economy, while how tax deductibility affects growth depends on the magnitude of both public loans and tax deductibility. In the borrowing-constrained economy, public loans positively affect growth, while tax deductibility does not affect growth. Both government policies affect the borrowing-constraint tightness and, therefore, can shift the economy from being borrowing-constrained to unconstrained or vice versa.

A study was undertaken to analyze the types of stress among the women faculty members in self financing colleges in and around Coimbatore. The survey indicated that among the various stresses viz., work stress, job related stress, health stress, common stress and personal stress, the stress emanating from work and job appeared to dominate the women faculty members. The data collected from 250 respondents were processed employing ANOVA and 't' test to find out whether mere were significant differences among the faculty members based on age, family types, number of dependents, qualification, teaching experience, disciplines and reasons for taking up teaching as a profession. The analysis has revealed some interesting things, which are brought out in the study.

I develop a highly tractable general equilibrium model in which heterogeneous producers face collateral constraints, and study the effect of financial frictions on capital misallocation and aggregate productivity. My economy is isomorphic to a Solow model but with time-varying TFP. I argue that the persistence of idiosyncratic productivity shocks determines both the size of steady-state productivity losses and the speed of transitions: if shocks are persistent, steady-state losses are small but transitions are slow. Even if financial frictions are unimportant in the long run, they tend to matter in the short run and analyzing steady states only can be misleading. (JEL E21, E22, E23, G32, L26, O16)

Self-financing has often been seen as an important source for research-and-development (R&D) funding. However, an in-depth comparison between the determinants of self-financing in the case of traditional investments versus those in R&D has not been provided yet. We use a comprehensive data set of Italian manufacturing firms to investigate this issue. We analyse the role of a wide number of financial variables in driving the rate of self-financing of firms, in both traditional and R&D investments, and we focus on public subsidies and firm size as critical factors explaining heterogeneity. First, we perform logit and logistic regressions separately for traditional and R&D self-financing, finding that they are positively correlated, and that the availability of public subsidies reduces self-financing. Subsequent poolability tests show that public subsidies and firm size are crucial discriminating factors for self-financing behaviour. Our main finding is that, in the absence of public subsidies, no internal or external market variable is able to explain the firms' financing decisions. Furthermore, our analyses generally show that credit constraints and banking relationship variables are relevant in determining traditional investment self-financing, while no clear statistical evidence is found in the R&D case. Credit rationing is not significant for R&D selffinancing, which may be explained by rationed firms being left out of our sample.

Presented at the Role of irrigation and drainage in a sustainable future: USCID fourth international conference on irrigation and drainage on October 3-6, 2007 in Sacramento, California. ; Includes bibliographical references. ; Ninety percent of the irrigators of Afghanistan own, operate and maintain canal systems. Traditionally, "Mirabs" manage water deliveries. They are chosen by water users, collect revenues and administer a limited O&M budget. The canal systems were in poor condition and delivered adequate water to approximately 1/3 of irrigated areas in 2003. Yet, international agencies, UN and IBRD, reported that agriculture provided 75 to 90 percent of GDP and employment. The 3-year "Rebuilding of Agricultural Markets Program" (RAMP) was designed by USAID and awarded to Chemonics International, July 2003. RAMP Infrastructure undertook the rebuilding of irrigation systems. Since government lacked financial resources, a program to incorporate Mirabs into a Self-Governing Water User Association (WUA), based on legal chartering, was designed by Chemonics International and executed by Development Alternatives Inc (DAI). Undertakings, to form a WUA for the 14,500-hectare Injil Canal Command of Herat Province, were: • Scoping and funding to achieve chartering of a WUA. • Convince an Afghan of stature to lead the program (Eng. Tawab Assifi). • Form capable Afghan Organizational Team (included noted jurist — Islamic and Civil law). • Review and possibly modify laws and regulations (chartering of WUAs was written into a New Water Law). • Map system and set up accurate voter (water user) registers. • Conduct elections for a General Assembly of water users. • Rebuild structures, Hari Rud/River (Head Works with silt ejector) to water intakes (200 each). Elections were held early during 2006, key personnel were trained, and equipment was transferred to the Injil WUA at mid year by RAMP/Chemonics.