scholarly journals Output response at the farm level: Maize supply and input demand in Kaduna State, Nigeria

Agro-Science ◽  
2021 ◽  
Vol 20 (3) ◽  
pp. 71-79
Author(s):  
J.R. Mani ◽  
Z. Abdussalam ◽  
M.A. Damisa
Keyword(s):  
Land Tenure ◽  
Local Governments ◽  
Capital Investment ◽  
Agricultural Research ◽  
Agricultural Extension ◽  
Farm Size ◽  
Long Run ◽  
Input Demand ◽  
Short Run ◽  
Demand Equations

The degree of responsiveness of agricultural supply to input either in the short or long-term production decision is crucial in understanding the role of price and non-price factors in increasing supply. This study analysed output supply and input demand of maize production using a farm survey data of 600 randomly selected maize farmers from all agricultural zones in Kaduna State of Nigeria. Data were analysed using a modified Nerlovian model and set of input demand equations. The results showed that in all estimates (yield and hectarage) long run estimates are greater than the short run values and both were inelastic. The elasticity for lagged own price of maize was 0.23% in the short run and 0.17% in the long run were positive, marginal and inelastic. The hectarage elasticity of supply response for maize is 1.04 in the short run and 0.78 in the long run. The result of the input demand equations showed that the coefficients cost of agrochemical and farm size statistically affect seed, fertilizer and labour demand. The study portrayed that the most critical issues in maize supply are the lack of improved production technology, poor capital investment, land unavailability or poor land tenure system and poor policy incentives. The study recommends that, there is a need for State policy on agricultural research and extension, and adequate input price policies. The government is advised to dissolve the agricultural extension service system to local governments. This will allow agricultural extension system to be more location specific.

Hotel and Dependency Costs of Residents in Old People's Homes

1978 ◽  
Vol 7 (1) ◽  
pp. 1-22 ◽  
Author(s):  
Bleddyn Davies ◽  
Martin R. J. Knapp
Keyword(s):  
Residential Care ◽  
Capital Investment ◽  
Self Care ◽  
Marginal Costs ◽  
Unit Costs ◽  
Long Run ◽  
Average Unit ◽  
Short Run ◽  
The Cost ◽  
Old People's Homes

AbstractA comparison of costs to the organization of alternative forms of care requires estimates for similar types of client. The degree of dependency is the main characteristic in which comparability is necessary with regard to services for the aged. This paper presents estimates of the costs incurred in providing residential care for clients of four degrees of incapacity for self-care – the capacity implicit in Bevan's residential hotel model of the old people's home, and three progressively more severe states of dependency. The estimates are for two cost concepts – average (unit) costs and marginal costs (the cost of caring for an additional person). The paper also estimates both long-run costs (costs that it is appropriate to take into account in decisions in which capital investment in new plant is being considered), and short-run costs (costs that it is appropriate to consider when the issue is the allocation of existing capacity between client groups). It also examines the consequences of the size of the home with regard to costs. Inter alia the paper shows:(a) that the size of home beyond which costs do not fall with scale provides for as many as fifty places (equivalent to an average daily census of forty-six residents); and(b) that, although the dependency components of costs are much smaller than the hotel components, dependency costs are large enough for it to be important to base comparisons of alternative forms of care on estimates of costs for clients which are comparable with respect to dependency.

scholarly journals Do Human Capital Investment and Technological Innovation Have a Permanent Effect on Population Health? An Asymmetric Analysis of BRICS Economies

2021 ◽  
Vol 9 ◽  
Author(s):  
Gang-Gao Hu ◽  
Li-Peng Yao
Keyword(s):  
Human Capital ◽  
Population Health ◽  
Technological Innovation ◽  
Capital Investment ◽  
Human Capital Investment ◽  
Negative Effects ◽  
Positive Effects ◽  
Brics Countries ◽  
Long Run ◽  
Short Run

This study examines the asymmetric impact of human capital investment, and technological innovation on population health from the years spanning from 1991 to 2019, by using a panel of the BRICS countries. For this purpose, we have employed the PMG panel NARDL approach, which captures the long-run and short-run dynamics of the concerned variables. The empirical results show that human capital investment and technological innovation indeed happen to exert asymmetric effects on the dynamics of health in BRICS countries. Findings also reveal that increased human capital investment and technological innovation have positive effects on health, while the deceased human capital investment and technological innovation tend to have negative effects on population health in the long run. Based on these revelations, some policy recommendations have been proposed for BRICS economies.

scholarly journals Macroeconomic impact of Eskom’s six-year capital investment programme

2012 ◽  
Vol 15 (2) ◽  
pp. 142-170 ◽  
Author(s):  
Reyno Seymore ◽  
Olusegun Akanbi ◽  
Iraj Abedian
Keyword(s):  
Computable General Equilibrium ◽  
Capital Investment ◽  
Capital Expenditure ◽  
Long Run ◽  
Macroeconomic Impact ◽  
Short Run ◽  
Simulation Results ◽  
Investment Programme ◽  
Macro Variables ◽  
The Impact

This study analyses the impact of an increase in Eskom’s capital expenditure on the overall macro and sectoral economy using both a Time-Series Macro-Econometric (TSME) model and a Computable General Equilibrium (CGE) model. The simulation results from the TSME model reveal that in the long run, major macro variables (i.e. household consumption, GDP, and employment) will be positively affected by the increased investment. A weak transmission mechanism of the shock on the macro and sectoral economy is detected both in the short run and long run due to the relatively small share of electricity investment in total investment in the economy. On the other hand, the simulation results from the CGE reveal similar but more robust positive impacts on the macro economy. Most of the short-run macroeconomic impacts are reinforced in the long run.

scholarly journals The short and long run effects of debt reduction

2018 ◽  
Vol 25 (1) ◽  
pp. 144-162 ◽  
Author(s):  
Kelsey Gamel ◽  
Pham Hoang Van
Keyword(s):  
Foreign Investment ◽  
Capital Investment ◽  
Natural Experiment ◽  
Debt Relief ◽  
Content Type ◽  
Debt Overhang ◽  
Poor Countries ◽  
Long Run ◽  
Heavily Indebted Poor Countries ◽  
Short Run

Purpose The purpose of this paper is to estimate benefits to debt reduction by using the natural experiment provided by the debt relief programs: the Heavily Indebted Poor Countries Initiative launched by the International Monetary Fund and World Bank in 1996 and the Multilateral Debt Relief Initiative extension in 2005. Design/methodology/approach The authors apply a time-shifted difference-in-differences strategy to evaluate the effects of this intervention. The date of each country’s decision to participate in the program is used as one treatment point while the date of the completion of the debt relief program is used as another treatment point. The exercise compares different economic outcomes such as domestic and foreign investment, schooling, and employment of the treated observations to the counterfactual of untreated country-years. The period between the decision and completion points is a short run while the period after the completion point is considered a long run. Findings The authors found that debt relief increased capital investment as much as 1.63 percent in the short run and 5.79 percent in the long run. However, there was no effect on foreign direct investment suggesting that debt overhang does not affect incentives of foreign investors. Output and schooling enrollment increased both in the short and long run. Originality/value This paper exploits a natural experiment of debt relief in a number of developing countries to shed light on the possible benefits to debt reduction. The authors are able to separate the short- and long-run effects of debt reduction. The finding that domestic but not foreign investment responds to debt reduction is suggestive of the differences in incentives across these two sources of investment.

scholarly journals ON THE (NONMONOTONIC) RELATION BETWEEN ECONOMIC GROWTH AND FINANCE

2018 ◽  
Vol 24 (1) ◽  
pp. 93-112 ◽  
Author(s):  
Alberto Bucci ◽  
Simone Marsiglio ◽  
Catherine Prettner
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Capital Investment ◽  
Nonlinear Models ◽  
Physical Capital ◽  
Long Run ◽  
Financial Depth ◽  
Short Run ◽  
Per Capita

We analyze the simplest possible model of endogenous growth to account for the role of financial development. In our setting, financial development affects productivity and determines the amount of resources subtracted to capital investment. We show that under very general assumptions, the relation between economic growth and financial depth is nonmonotonic, and eventually bell-shaped. We empirically assess our results in a framework that allows to distinguish between long-run and short-run effects. We establish a cointegrating relation and derive the long-run elasticities of per capita gross domestic product (GDP) with respect to employment, the physical capital stock, and financial depth–relying on linear as well as nonlinear models for the finance-growth nexus. We employ the results of the first step estimation to specify an error–correction model and find that there is strong evidence for a nonlinear relationship between financial depth and per capita GDP, consistently with what was predicted by our theoretical model.

scholarly journals Heterogeneous Analysis of Pollution Abatement via Renewable and Non-Renewable Energy: Lessons from Investment in G20 Nations

2021 ◽  
Author(s):  
Kazeem Bello Ajide ◽  
Ekundayo Peter Mesagan
Keyword(s):  
Renewable Energy ◽  
Carbon Emissions ◽  
Capital Investment ◽  
Pollution Abatement ◽  
Jel Classification ◽  
Cross Sectional ◽  
Pooled Mean Group ◽  
Long Run ◽  
Short Run ◽  
Cross Sectional Dependence

Abstract This study analyses the role of renewable and non-renewable energy in pollution reduction through the capital investment channel in G20 economies between 1990 and 2017. We consider cross-sectional dependence since the countries are heterogeneous and cross-sectionally dependent using the pooled mean group approach. Findings reveal that renewable energy negatively impacts carbon emissions in both the short- and long-run, while non-renewable energy positively affects carbon emissions in both the short- and long-run. Again, results show that capital investment lowers pollution in the short-run but increases it in the long-run. Lastly, we find that capital investment interacts with renewable energy to reduce pollution in both short- and long-run, while its interaction with non-renewable energy expands pollution in both short- and long-run. We, therefore, conclude that capital investment provides an important channel to reduce pollution in G20 nations and recommend that if energy consumption is to work through the capital investment channel to lower pollution in the G20, the proportion of renewable energy must increase relative to non-renewable energy in their energy mix.JEL Classification: Q41; Q42; Q53; F23; O50.

scholarly journals U.S. Offshoring Of Jobs And Businesses To India: A Survey And Analysis

2011 ◽  
Vol 5 (7) ◽  
Author(s):  
Shyamalendu Sarkar ◽  
Surender Reddy
Keyword(s):  
Capital Investment ◽  
Cost Savings ◽  
Business Environment ◽  
Offshore Outsourcing ◽  
Trade Restrictions ◽  
Global Business ◽  
Cultural Changes ◽  
Long Run ◽  
Short Run ◽  
The U.S

Recently, offshore-outsourcing of U.S. jobs in general and particularly to India has drawn considerable attention from various quarters in the U.S. A combination of factors have propelled this issue to the forefront: ominous headlines; downsizing of corporate labor force; huge trade deficits, increased global competition; poor job growth in a healthy economy; loss of white-collar and professional jobs, etc. The trend of jobs outsourced to India is projected to be sharply upward in the near future. India has clearly benefited from the influx of new jobs. It has also brought some cultural changes in the younger generation in India not well received by the local communities. However, the overall cultural understanding between India and the U.S. has certainly improved. The study finds that the U.S. businesses have many compelling reasons in outsourcing jobs to India: cost savings due to wage differentials; decreasing need for capital investment; availability of educated and skilled workforce, etc. The offshore-outsourcing also has many disadvantages: loss of security; increased dependency; huge startup and communication costs; inadequate protection of intellectual property; poor infrastructure; different legal systems; high levels of bureaucracy and corruption, etc. As the economic theories suggest, the authors find that, given the current competitive global business environment, offshore-outsourcing is an essential part of sound business decisions that U.S. corporations need to make to remain economically viable in the long-run. The short-run problem of displaced workers, although highly important, should be addressed in ways other than imposing trade restrictions, or isolating U.S. from world competition.

scholarly journals Wheat Self-sufficiency in Different Policy Scenarios and Their Likely Impacts on Producers, Consumers, and the Public Exchequer

2001 ◽  
Vol 40 (3) ◽  
pp. 203-223 ◽  
Author(s):  
Abedullah . ◽  
Mubarik Ali
Keyword(s):  
Agricultural Research ◽  
Policy Option ◽  
Infrastructure Development ◽  
Price Support ◽  
Net Return ◽  
Long Run ◽  
Self Sufficiency ◽  
Short Run ◽  
Agricultural Research And Development ◽  
The Impact

Every government faces a challenge to select an optimum policy to provide food supplies to the consumers at a reasonable price and maintain a reasonable nutritional standard. The alternative policy options available are an uninterrupted market, imports, input subsidies, price support, combined policy developed by the combination of input subsidy and price support, and investment on research and infrastructure development. This paper analyses the impact of these options on consumers’ and producers’ welfare, tax revenue, and foreign exchange requirement. The import and input subsidy give net return to the society while price support generates net loss. The triple combined policy option generates the highest net return to the society when each import and input subsidy component is combined with price support in the ratio of 40 and 20 percent, respectively. The best policies to provide higher wheat supplies at lower prices and to improve the welfare of consumers and producers were investment on agricultural research and development of irrigation infrastructure in the long run, but for the short run, the first and the second best option were respectively the combined and the input subsidy policy.

scholarly journals Economic Impact of Four Cylinder Pedal Pump in a Selected Area of Bangladesh

1970 ◽  
Vol 4 (1) ◽  
pp. 181-187
Author(s):  
QM Alam ◽  
R Islam ◽  
MA Baset
Keyword(s):  
Agricultural Research ◽  
Irrigation System ◽  
Water Source ◽  
Point Of View ◽  
Command Area ◽  
Vegetable Production ◽  
Long Run ◽  
Short Run ◽  
Short And Long Term ◽  
Long Term Impact

The study was conducted in Rajshai Barind area to know the short and long term impact of for cylinder manual (Pedal) Pump developed by Bangladesh Agricultural Research Institute. The Pump was dominated by small farmers who cultivated vegetables in homestead fallow land. Simple cost and return analysis indicated that the pump was profitable in the short-run. It was found that in both private and social point of view the pump was profitable and acceptable in the short run as well as in the long run. The command area of the pump was 0.20 ha. The pump was found underutilized. For full utilization of the pump, its operation should be extended to the main field where water source is available. Nevertheless, the pump is a substitute to modern irrigation system. Key words: Pedal pump, irrigation, vegetable production.

scholarly journals The Dual Adjustment Approach with an Application to the Investment Function for Turkey (1963-2017)

2019 ◽  
Author(s):  
Mustafa İsmihan ◽  
Mustafa Can Küçüker
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Capital Investment ◽  
Fixed Capital ◽  
Capital Investments ◽  
Long Run ◽  
Macroeconomic Instability ◽  
Short Run ◽  
Investment Function ◽  
Fixed Capital Investment

The dual adjustment approach enables us to consider separate dual co-movements of permanent and transitory components of time series variables and hence the possibility of dual adjustment. The common {filtered} trend concept is developed within the framework of dual adjustment approach and a simple test for the existence of such relationship is suggested for nonstationary macroeconomic variables. This paper investigates the dual adjustment with an application to the private sector fixed capital investment function by using the Turkish data over the 1963-2017 period. Our results indicated that private sector fixed capital investment and income, public sector fixed capital investment and macroeconomic instability are not cointegrated and hence they have spurious relationship. In contrast, according to the dual adjustment approach, these variables have a long run relationship. Additionally, it is shown that there are dual relationships between permanent and temporary components of private sector fixed capital investment and income. Furthermore, it is shown that there is no long run relationship between private sector fixed capital investments and public sector fixed capital investments but they are negatively related in the short run. In addition, it is concluded that macroeconomic instability is detrimental for private sector fixed capital investments only in the long run.

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