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Economic Activity (economic + activity)
Kinds of Economic Activity Selected AbstractsCOMPARATIVE ANALYSIS OF EXCHANGE RATE APPRECIATION AND AGGREGATE ECONOMIC ACTIVITY: THEORY AND EVIDENCE FROM MIDDLE EASTERN COUNTRIESBULLETIN OF ECONOMIC RESEARCH, Issue 1 2008Magda Kandil F31; F40; F41; F43 ABSTRACT The paper examines the effects of exchange rate depreciation on real output and price in a sample of 11 developing countries in the Middle East. The theoretical model decomposes movements in the exchange rate into anticipated and unanticipated components. Unanticipated currency fluctuations determine aggregate demand through exports, imports, and the demand for domestic currency, and determine aggregate supply through the cost of imported intermediate goods. The evidence indicates that the supply channel attributed to anticipated exchange rate appreciation results in limited effects on output growth and price inflation. Consistent with theory's predictions, unanticipated appreciation of the exchange rate appears more significant with varying effects on output growth and price inflation across developing countries. [source] Research and Development, Regional Spillovers and the Location of Economic ActivitiesTHE MANCHESTER SCHOOL, Issue 4 2004Alberto Franco Pozzolo I present an endogenous growth model that studies the effects of local inter-industry and intra-industry knowledge spillovers in R&D on the allocation of economic activities between two regions. The equilibrium is the result of a tension between a centripetal force, the cost of transporting goods from one region to the other, and a centrifugal force, the cost increase associated with life in a more crowded area. The presence of local knowledge spillovers, which determines the concentration of the R&D activities within one region, also introduces a further centripetal force that makes a symmetric allocation of the economic activities impossible. The concentration of R&D fosters the equilibrium rate of growth of the economy with respect to the case of no-integration, by increasing the positive effect of local knowledge spillovers. Contrary to the findings of the majority of models in the new economic geography literature, within this framework a reduction in transport costs may be associated with a more even geographical distribution of economic activities. [source] Growth and Location of Economic Activity: The Spatial Dynamics of Industries in Canada 1971,2001GROWTH AND CHANGE, Issue 3 2006MARIO POLÈSE ABSTRACT A growing literature has accumulated that points to the stability of industrial location patterns. Can this be reconciled with spatial dynamics? This article starts with the premise that demonstrable regularities exist in the manner in which individual industries locate (and relocate) over space. For Canada, spatial distributions of employment are examined for seventy-one industries over a thirty-year period (1971,2001). Industry data is organized by "synthetic regions" based on urban size and distance criteria. "Typical" location patterns are identified for industry groupings. Industrial spatial concentrations are then compared over time using correlation analysis, showing a high degree of stability. Stable industrial location patterns are not, the article finds, incompatible with differential regional growth. Five spatial processes are identified, driving change. The chief driving force is the propensity of dynamic industries to start up in large metro areas, setting off a process of diffusion (for services) and crowding out (for manufacturing), offset by the centralizing impact of greater consumer mobility and falling transport costs. These changes do not, however, significantly alter the relative spatial distribution of most industries over time. [source] An Empirical Note on the Influence of the US Stock Market on Australian Economic ActivityAUSTRALIAN ECONOMIC PAPERS, Issue 3 2000Nicolas De Roos This paper empirically examines the impact of the US stock market on Australian economic activity as one explanation of the strong correlation in the Australian and US business cycles. It is found that both the US and Australian share markets appear to have a significant impact on Australian activity. [source] Geographic Concentration and Increasing ReturnsJOURNAL OF ECONOMIC SURVEYS, Issue 5 2003Paolo Surico Abstract., Economic activities are highly clustered. Why is geographic concentration becoming a predominant feature of industrialized economies? On the basis of the empirical models developed by the new theories of international trade, our answer is that increasing returns are the driving force of economic geography in the US as well as in Europe. In so doing, we review several econometric methods proposed in the literature to separate and to test alternative theoretical paradigms. [source] Oil demand in North America: 1980-2020OPEC ENERGY REVIEW, Issue 4 2001Salman Saif Ghouri This paper first analyses price and income elasticity of oil demand in the United States, Canada and Mexico for the period 1980-99. Economic activity is the main driving force that influences oil consumption in each country. Changes in oil consumption generally lagged by a few years before the full impact of changes in oil prices was realized. Consumers in the short run are constrained by technological and other barriers and, therefore, less sensitive to changes in oil prices; however, they are more responsive in the long run , though response is still inelastic. The use of advanced technology facilitated these countries to use less oil over time. The paper then looks at demand over the next 20 years. The best-fitting model predicts that, by the end of 2020 (reference case), the USA, Canada and Mexico will respectively consume 24,900, 2,596 and 2,321 thousand barrels daily, compared with 19,519, 1,943 and 1,970 thousand b/d in 1999. The model forecasts economic slowdown during 2000/2002. The USA and Canada are expected to recover quickly, while Mexico will take longer. [source] Building Peace with Conflict Diamonds?DEVELOPMENT AND CHANGE, Issue 4 2009Development in Sierra Leone, Merging Security ABSTRACT This article examines the merging of security and development agendas in primary commodity sectors, focusing on the case of peace-building reforms in Sierra Leone's diamond sector. Reformers frequently assume that reforming the diamond sector through industrializing alluvial diamond mining will reduce threats to security and development, thereby contributing to peace building. Our findings, however, suggest that the industrialization of alluvial diamond mining that has taken place in Sierra Leone has not reduced threats to security and development, as it has entailed human rights abuses and impoverishment of local communities without consolidating state fiscal revenues and trust in local authorities. This suggests alternative strategies for resource-related peace-building initiatives, which we consider at the end of the article: the decriminalization of informal economic activities; the prioritization of local livelihoods and development needs over central government fiscal priorities and foreign direct investment; and better integration between local economies and industrial resource exploitation. [source] Trade Liberalization and the Geography of Production: Agglomeration, Concentration, and Dispersal in Indonesia's Manufacturing IndustryECONOMIC GEOGRAPHY, Issue 3 2004Örjan Sjöberg Abstract: The effect of the liberalization of trade on the spatial concentration of economic activities is not straightforward. It has been widely argued that protectionism increases spatial concentration as firms locate close to the main domestic markets. However, it has also been argued that an expansion of international trade primarily favors existing industrial centers and therefore leads to increased regional inequalities. Against the background of ongoing debates in both mainstream economics and in geography, we examine the spatial concentration of manufacturing in Indonesia between 1980 and 1996, a period when Indonesia substantially liberalized its trade regime. The high concentration did not decrease during this period, and establishments that engaged in international trade were actually comparably concentrated. We discuss some possible explanations for the spatial concentration in Indonesia and conclude that a host of factors may affect the outcome of trade liberalizations. In particular, the spatial configuration of the national settlement system is a potentially important factor in this regard. [source] Developmental and Quiescent Subsidiaries in the Asia Pacific: Evidence from Hong Kong, Singapore, Shanghai, and SydneyECONOMIC GEOGRAPHY, Issue 2 2003Jessie P. H. Poon Abstract: Examining "embedded" economic and social relations has become a popular theme among economic geographers who are interested in explaining the durability of place in supporting economic activities. This article explores the relationship between embeddedness and technology-oriented functions among three types of subsidiaries (regional headquarters, regional offices, and local offices) and for four cities: Hong Kong, Shanghai, Singapore, and Sydney. Using survey data from firms, we show that quiescent or branch plant-like subsidiaries, rather than developmental firms, dominate the region. But among developmental subsidiaries, returns on embeddedness are not always obvious. Embeddedness and developmental subsidiaries are most significantly correlated with manufacturing regional headquarters. However, a small group of subsidiaries (local and regional offices) also perform developmental functions, despite their relative newness and lack of embed-dedness in the region. [source] Entrepreneurial Policy: The Case of Regional Specialization vs.ENTREPRENEURSHIP THEORY AND PRACTICE, Issue 5 2008Spontaneous Industrial Diversity Regional economic development policy is recognized as a key tool governments use to foster economic prosperity. Whether specialization (or diversity) of economic activities should be a regional development policy goal is often debated. We address this question in a local-diversity context, by reviewing traditional arguments in its favor, supplemented with evidence for more entrepreneurial concepts like industrial symbiosis and Jacobs externalities. We show that the context of entrepreneurship matters more to policy than the type and form of resulting industries. Policies enabling entrepreneurs to exploit opportunities in a context of spontaneously evolved industrial diversity are better facilitators of regional development. [source] Entrepreneurial Management and Governance in Family Firms: An IntroductionENTREPRENEURSHIP THEORY AND PRACTICE, Issue 4 2004Lloyd P. Steier Many organizations, ranging from small entrepreneurial start-ups to large, multi-business and multi-national enterprises, exhibit a family dimension. Although there is much evidence that this familial dimension is pervasive in organizing economic activities, it remains understudied. The articles in this special issue further our understanding of family businesses and how they might be usefully managed and organized at operational and policy levels. They examine important topics,management succession, agency costs in family versus non-family firms, the effects of culture, and family elites in rent-seeking societies,and improve our understanding of the role of family in entrepreneurial wealth creation at both firm and societal levels. Importantly, these papers further our understanding of the contingencies and contexts wherein family based approaches to organizing enterprise might yield advantages or disadvantages. [source] Interpreting the Viking Age to Medieval period transition in Norse Orkney through cultural soil and sediment analysesGEOARCHAEOLOGY: AN INTERNATIONAL JOURNAL, Issue 4 2005Ian A. Simpson The transition from the Viking Age (ca. A.D. 800,1050) to the Medieval period (ca. A.D. 1050,1500) saw the development of widening trade activities that incorporated peripheral North Atlantic polities into mainstream Europe and contributed to the intensification of marineresource exploitation and agricultural production in these localities. As yet, there is only limited understanding of these intensification processes and their interrelationships, particularly at a local, site-based level. Through the micromorphological analysis of cultural soils and sediments at Quoygrew, Westray, Orkney, we explore the characteristics of farming and fishing activity during the Viking Age,Medieval transition period and establish their chronological relationships. The study demonstrates: (1) that intensification took place from ca. A.D. 966,1162 on an already existing Viking Age settlement, (2) that intensification of fishing activity occurred prior to the intensification of arable agriculture, and (3) that the Quoygrew site continued throughout this period as an economically diverse permanent settlement. When viewed in a wider North Atlantic context, these findings indicate that intensification of different economic activities proceeded at different rates and that intensification of specialized economic activities during the transition from the Viking Age to the Medieval period was dependent on existing knowledge of local environments. © 2005 Wiley Periodicals, Inc. [source] UNDERSTANDING TRADITIONALIST OPPOSITION TO MODERNIZATION: NARRATIVE PRODUCTION IN A NORWEGIAN MOUNTAIN CONFLICTGEOGRAFISKA ANNALER SERIES B: HUMAN GEOGRAPHY, Issue 1 2008Tor A. Benjaminsen ABSTRACT. In Gausdal, a mountainous community in southern Norway, a conflict involving dogsledding has dominated local politics during the past two decades. In order to understand local protests against this activity, in this article we apply discourse analysis within the evolving approach of political ecology. In this way, we also aim at contributing to the emerging trend of bringing political ecology "home". To many people, dogsledding appears as an environmentally friendly outdoor recreation activity as well as a type of adventure tourism that may provide new income opportunities to marginal agricultural communities. Hence, at a first glance, the protests against this activity may be puzzling. Looking for explanations for these protests, this empirical study demonstrates how the opposition to dogsledding may be understood as grounded in four elements of a narrative: (1) environmental values are threatened; (2) traditional economic activities are threatened; (3) outsiders take over the mountain; and (4) local people are powerless. Furthermore, we argue that the narrative is part of what we see as a broader Norwegian "rural traditionalist discourse". This discourse is related to a continued marginalization of rural communities caused by increasing pressure on agriculture to improve its efficiency as well as an "environmentalization" of rural affairs. Thus, the empirical study shows how opposition to dogsledding in a local community is articulated as a narrative that fits into a more general pattern of opposition to rural modernization in Norway as well as internationally. [source] THE ORGANIZATIONAL AND TERRITORIAL CHANGES OF SERVICES IN A GLOBALIZED WORLDGEOGRAFISKA ANNALER SERIES B: HUMAN GEOGRAPHY, Issue 2007Brita Hermelin ABSTRACT. Research on the service industries has changed radically over the past few decades. Not only has work proliferated, but service research has further developed towards a deeper and more nuanced understanding of particular categories of services activities. However, as most research has focused on large and often densely populated economies, and on large multinational corporations, there is a risk that processes and phenomena relevant to more peripheral or smaller economies, perhaps with a more dispersed pattern of settlements and economic activities, are left unaccounted for. Drawing on contributions to the Inaugural Nordic Geographers Meeting held in Lund in 2005, this article introduces a special issue containing a selection of papers that set out to fill some of the gaps. [source] SPATIAL CONSTRAINTS ON WOMEN'S WORK IN TARIJA, BOLIVIAGEOGRAPHICAL REVIEW, Issue 2 2000Article first published online: 21 APR 2010, KATHLEEN SCHROEDER ABSTRACT. This geography of women's work in the less-developed world is set in Tarija, Bolivia, a small city that has been dramatically changed by economic crisis and structural-adjustment programs. Explored is the spatial component of women's economic activities in a low-income barrio following the imposition of structural-adjustment programs in the 1980s and 1990s. Women who pursue employment away from home must rely on other women. In particular, households that include more than one woman who is capable of handling important daily chores are more likely to have a woman engaged in income-generating activities away from the home and the neighborhood. Women at home make it possible for other women to extend their economic activity into the broader community. These findings are important because they draw attention to women's reliance on other women, how women use space, and how they are constrained by spatial factors as they negotiate their daily lives. [source] Bridges to learning: international student mobilities, education agencies and inter-personal networksGLOBAL NETWORKS, Issue 4 2008FRANCIS LEO COLLINS Abstract International education is a fundamentally transnational project. It relies on the movement of individuals or knowledge across national borders, disturbs the centrality of the nation-state in educational reproduction, and is facilitated by economic and social networks that act as bridges between countries of origin and education. In this article, I address this latter point through reference to research conducted with South Korean international students in Auckland, New Zealand. In particular, I discuss the emergence of transnational social and economic activities that are facilitating the movement of international students from South Korea to Auckland , activities that might usefully be understood as forming ,bridges to learning'. These include the activities of education agencies, immigrant entrepreneurs and the interpersonal relationships with which many students engage in the negotiation of their transnational lives. In a broader sense I illustrate how the emerging mobilities of international students cannot be viewed as independent of other phenomena but must be seen as embedded within transnational processes that take place at different geographic and social scales. [source] Salvadoran economic transnationalism: embedded strategies for household maintenance, immigrant incorporation, and entrepreneurial expansionGLOBAL NETWORKS, Issue 3 2001Patricia Landolt This article presents a case study of the transnational economic practices linking two Salvadoran settlements in the United States and El Salvador. It considers the relationship between economic transnationalism, immigrant settlement and economic development in the country of origin. Four processes are examined including: (1) the creation of border-spanning social networks by migrants and their home country counterparts; (2) the construction of transnational economic activities and institutions; (3) the broader transnational social formations in which these are embedded; and, (4) the cumulative and unintended consequences of economic transnationalism for migrant households, the immigrant community, and El Salvador. The article applies the concepts of social network, social capital, and embeddedness, to explain the sources and determinants of individual- and community-level variation in types of transnational economic practices. The conclusions drawn are that economic transnationalism is both part of a transnational settlement strategy and holds potential for economic development in the country of origin. [source] E-commerce, Transportation, and Economic GeographyGROWTH AND CHANGE, Issue 4 2003William P. Anderson ABSTRACT This paper explores possible ways in which growth in Internet retailing (e-retailing) may affect the spatial distribution of economic activities. After a brief overview of e-retailing, a categorization of possible spatial impacts is introduced. These include impacts on the retail industry, such as substitution of e-retail for brick-and-mortar retail, impacts on transportation, such as substitution of freight transportation for personal transportation in goods delivery, and pervasive impacts that affect the whole economy. The latter category includes uniform delivered pricing, spatial leveling of accessibility, and marketing strategies that target individuals rather than regions. The question of whether e-retailing and brick-and-mortar retailing are truly substitutes is taken up in the next section, along with potential implications of multi-channel retailing. The final section of the paper defines some critical research directions. [source] Land Administration in Medieval Japan: Ito no shô in Chikuzen Province, 1131,1336HISTORY, Issue 289 2003Judith Fröhlich The topic of land administration is central in historical studies of medieval Japan, since it provides insight into the social and economic development during the medieval period and highlights the lives of various social groups, courtiers, clerics, warriors and peasants. Based on the case of Ito no shô, an estate in northern Kyushu, this article analyses the establishment of a wide system of land administration under courtiers and central religious institutions during the twelfth century and its decline during the thirteenth century. The concurrent rise of local land managers and their social and economic activities during the thirteenth century are also explored. Finally, an assessment is made of the impact of the Mongol invasions of 1274 and 1281 on economic and social development during the late thirteenth and early fourteenth centuries, in particular the loss of influence of central authorities in regions remote from the capital and the formation of rural communities under the leadership of local warriors. [source] Presentation and comments on EU legislation related to food industries,environment interactions: sustainable development, and protection of nature and biodiversity , genetically modified organismsINTERNATIONAL JOURNAL OF FOOD SCIENCE & TECHNOLOGY, Issue 7 2006Ioannis S. Arvanitoyannis Summary The European Union (EU) legislation regarding sustainable development moves along two distinct lines: the impact of industries (food industries included) on the environment (release of gases and green house effect and the effect of cultivating genetically modified organisms (GMOs) on the environment. EU voted three communications [COM(2002)524, COM(2003)301, COM(2004)38] in an attempt to set an action plan based on technologies to manage pollution, by promoting less polluting and less resource-intensive products and services and ways to manage resources more efficiently. As such environment-friendly technologies pervade practically all economic activities and sectors it is anticipated that they will reduce effectively energy and resource consumption thereby creating fewer emissions and less waste. As regards the cultivation and/or importing of GMOs, EU legislation was based on two directives (E.U. 90/219/EEC, E.U. 2001/18/EC) and four regulations [Regulation (EC) No. 258/97, Regulation (EC) No. 1830/2003, Regulation (EC) No. 1830/2003 and Regulation (EC) No. 1946/2003]. The directives aimed at adopting measures for limited use of GM micro-organisms, making the procedure for granting consent to the deliberate release and placing on the market of GMOs more efficient and more transparent, making GMO labelling compulsory and thereby enhancing GMOs traceability along the entire food chain. [source] Livelihoods in Conflict: The Pursuit of Livelihoods by Refugees and the Impact on the Human Security of Host CommunitiesINTERNATIONAL MIGRATION, Issue 5 2002Karen Jacobsen This paper explores how long,term refugees pursue livelihoods, the impact this pursuit has on the human security of conflict,affected communities, and the ways in which international assistance can help. Refugees' pursuit of livelihoods can increase human security because economic activities help to recreate social and economic interdependence within and between communities, and can restore social networks based on the exchange of labour, assets and food. When refugees are allowed to gain access to resources and freedom of movement, and can work alongside their hosts to pursue productive lives, they would be less dependent on aid and better able to overcome the sources of tension and conflict in their host communities. The paper identifies how humanitarian programmes working with national governments can increase economic security and shore up the respective rights of both refugees and their host communities. Today, relief interventions are no longer expected solely to save lives in the short term, but also to lay the foundation for future development and to promote conflict resolution. [source] The Ecosystem: Model or Metaphor?JOURNAL OF INDUSTRIAL ECOLOGY, Issue 2 2010Epistemological Difficulties in Industrial Ecology Summary Industrial ecology offers an original way of looking at economic activities. The approach is based on an analogy between certain objects studied by the science of ecology (ecosystems, metabolisms, symbiosis, biocenosis, etc.) and industrial systems. However, this analogical relationship raises difficulties due to the various interpretations to which it is open. Although there is agreement regarding its heuristic function, the analogy can nevertheless be understood either as a model or as a metaphor. The present article first attempts to show how models differ from metaphors. It then sets out to justify the epistemological relevance of this distinction for industrial ecology research. The reflection should thus contribute to clarifying the debate on the (supposed or desired) role of analogy in the field of industrial ecology and heighten the interest this field of investigation represents for implementing sustainable development. [source] Environmental Impacts of Products: A Detailed Review of StudiesJOURNAL OF INDUSTRIAL ECOLOGY, Issue 3 2006Arnold Tukker Summary Environmental effects of economic activities are ultimately driven by consumption, via impacts of the production, use, and waste management phases of products and services ultimately consumed. Integrated product policy (IPP) addressing the life-cycle impacts of products forms an innovative new generation of environmental policy. Yet this policy requires insight into the final consumption expenditures and related products that have the greatest life-cycle environmental impacts. This review article brings together the conclusions of 11 studies that analyze the life-cycle impacts of total societal consumption and the relative importance of different final consumption categories. This review addresses in general studies that were included in the project Environmental Impacts of Products (EIPRO) of the European Union (EU), which form the basis of this special issue. Unlike most studies done in the past 25 years on similar topics, the studies reviewed here covered a broad set of environmental impacts beyond just energy use or carbon dioxide (CO2) emissions. The studies differed greatly in basic approach (extrapolating LCA data to impacts of consumption categories versus approaches based on environmentally extended input-output (EEIO) tables), geographical region, disaggregation of final demand, data inventory used, and method of impact assessment. Nevertheless, across all studies a limited number of priorities emerged. The three main priorities, housing, transport, and food, are responsible for 70% of the environmental impacts in most categories, although covering only 55% of the final expenditure in the 25 countries that currently make up the EU. At a more detailed level, priorities are car and most probably air travel within transport, meat and dairy within food, and building structures, heating, and (electrical) energy-using products within housing. Expenditures on clothing, communication, health care, and education are considerably less important. Given the very different approaches followed in each of the sources reviewed, this result hence must be regarded as extremely robust. Recommendations are given to harmonize and improve the methodological approaches of such analyses, for instance, with regard to modeling of imports, inclusion of capital goods, and making an explicit distinction between household and government expenditure. [source] Coping strategies in developed and developing societies: the workings of the informal economyJOURNAL OF INTERNATIONAL DEVELOPMENT, Issue 8 2000Madeleine Leonard The purpose of this paper is to examine the persistence and significance of informal economic activity in both the developed and developing world. Drawing on empirical work carried out in Belfast, the paper suggests that many similarities exist between the informal economic activities of people on low incomes in Belfast and the poor in developing countries. The paper illustrates these connections through an examination of three aspects of the informal economy: reciprocity between households, informal self-employment and informal paid employment. By examining the variety of ways in which people at the lower end of the economic scale attempt to secure their economic livelihoods in the absence of formal employment opportunities, the paper demonstrates the global nature of the informal economy. Copyright © 2000 John Wiley & Sons, Ltd. [source] BUSINESS COMMUNITY STRUCTURES AND URBAN REGIMES: A COMPARATIVE ANALYSISJOURNAL OF URBAN AFFAIRS, Issue 4 2007MARK DE SOCIO ABSTRACT:,Regime theorists often present business interests as coherent and unified communities with unitary interests. A central principle of regime theory, however, is that business elites tend to occupy privileged positions within regime coalitions because of the scope of resources and expertise they command and cities require for economic development and/or fiscal solvency. Cities are generally home to a wide range of business activities operating at various scales, and business elites representing various corporations in different economic sectors arguably command different kinds of resources and expertise that are functional to the economic activities with which they are affiliated. Various mixes of business elites representing different economic activities might therefore produce differentially biased input regarding urban policy-making and affect the types of regime coalitions that cities develop.Utilizing compilations of interlocking directorates among major organizations across three sectors, profiles of the corporate and social community structures of 24 U.S. cities are generated and a correlation matrix comprised of business and social organizational categories is produced. Factor analysis of the correlation matrix identifies three separate mixes of corporate and social organizational categories that generally conform to descriptions of developmental, caretaker, and progressive regime typologies. These three factors serve as prototypes of the three broad regime types and their corporate community structures. Correlations of the 24 cities with each of the three regime prototypes generally match their regime types as identified through previous case studies. Variations in regime types among cities might therefore be attributed to varying degrees of diversity in the kinds of corporations headquartered or located within them. Closer attention to the economic base of cities,the producers, after all, of local business elites,may reveal internal biases and/or material predisposition towards some urban policies over others by local business elites in relation to the economic activities with which they are linked. [source] An economic lot-sizing problem with perishable inventory and economies of scale costs: Approximation solutions and worst case analysisNAVAL RESEARCH LOGISTICS: AN INTERNATIONAL JOURNAL, Issue 6 2005Leon Yang Chu Abstract The costs of many economic activities such as production, purchasing, distribution, and inventory exhibit economies of scale under which the average unit cost decreases as the total volume of the activity increases. In this paper, we consider an economic lot-sizing problem with general economies of scale cost functions. Our model is applicable to both nonperishable and perishable products. For perishable products, the deterioration rate and inventory carrying cost in each period depend on the age of the inventory. Realizing that the problem is NP-hard, we analyze the effectiveness of easily implementable policies. We show that the cost of the best Consecutive-Cover-Ordering (CCO) policy, which can be found in polynomial time, is guaranteed to be no more than (4 + 5)/7 , 1.52 times the optimal cost. In addition, if the ordering cost function does not change from period to period, the cost of the best CCO policy is no more than 1.5 times the optimal cost. © 2005 Wiley Periodicals, Inc. Naval Research Logistics, 2005. [source] Market Uncertainty and Socially Embedded ReputationAMERICAN JOURNAL OF ECONOMICS AND SOCIOLOGY, Issue 3 2009Harris H. Kim Both economists and sociologists generally recognize the importance of reputation in coordinating economic transactions. In a perfectly competitive and anonymous market characterized by faceless buyers and sellers, the issue of reputation would be irrelevant and unnecessary. In reality, however, markets are often filled with varying degrees of information asymmetry, which can threaten the very existence of the market system itself. In critical reaction to the standard neoclassical model, some economists, on the one hand, argue that when there is an information problem, reputation serves as a valuable source of market signal of quality. Sociologists of economic life similarly contend that reputation, along with trust, is critical in lowering transaction costs and thereby facilitating various economic activities among individual actors. The purpose of this article is to apply this broad theoretical observation to a specific empirical phenomenon. It does so by highlighting the role of social networks that connect actors on both demand and supply sides of the market. Specifically, this study examines how interpersonal networks in the market for legal services affect the duration of ties between buyers and sellers. Quantitative analysis based on a random sample of Chicago lawyers, a project funded by the American Bar Foundation, reveals that ceteris paribus the lawyer-client relations are significantly driven by social network factors. [source] The responsiveness of remittances to price of oil: the case of the GCCOPEC ENERGY REVIEW, Issue 3-4 2009George S. Naufal We investigate the responsiveness of remittances from the Gulf Cooperation Council (GCC) countries to the changes in the price of crude oil. Most of the GCC countries rank in the top 20 remitting countries in the world. We find that oil price elasticity of remittances is around 0.4. While most studies have examined the impact of remittances on the real economic activities in the receiving countries, this study emphasises the impact of remittances on the remitting countries. We examine various policy implications with regard to macroeconomic shocks, monetary policy and fiscal policy of the GCC countries. [source] Northeast Asian Energy Cooperation: The Irkutsk Pipeline Project,PACIFIC FOCUS, Issue 2 2004Euikon Kim Northeast Asia is a cluster of countries with wide differences in political systems, stages of economic development, levels of technology, and natural resource endowments. In addition, infrastructures of national economies are mutually complementary: Japan and Korea have capital and technology on the one hand and Russia and China enjoy abundant resources and cheap labor. Yet many socio-political elements have so far barred active economic cooperation among Northeast Asian national economies from becoming a reality, such as, North Korean nuclear issues, different ideologies, unstable political systems, and anti-Japanese sentiments. The Irkutsk Pipeline Projects can be a litmus test for the future economic cooperation in the region. Market forces in Russia, Japan, South Korea and China increasingly tend to jump national boundaries and to escape political control, seeking for economic profits, whereas socio-political factors have tendency to restrict and channel the economic activities. Thus, problems of the Irkutsk Pipeline Projects lie in how and where those positive and negative factors are reconciled. [source] Spatial knowledge diffusion through collaborative networks,PAPERS IN REGIONAL SCIENCE, Issue 3 2007Corinne Autant-Bernard The theory of endogenous growth and the geography and growth synthesis both consider that local growth and spatial concentration of economic activities emanate from localised knowledge spillovers (Lucas 1988; Martin and Ottaviano 1999). Since the end of the 1980's, the spatial dimension of knowledge diffusion has been investigated from an empirical point of view, and the existence and role of local spillovers has been generally confirmed (see among others Jaffe 1989; Audretsch and Feldman 1996). The concern that now arises is to unravel the mechanisms underlying and explaining the geographical knowledge spillovers. The aim of this special issue is to present the latest new findings on such questions and to identify some new lines of research for future work. Before presenting the content of this special issue, we very briefly review the main results of the empirical literature on the geography of innovation. We also explain the context of this special issue by pointing out some of the limitations faced by this literature and, by stressing the complex dynamic and network dimensions of the observed processes of production and diffusion of knowledge. [source] | ||||||||||||||||||||||||||||||||||