Private Sector Agents Research Articles

SRI 2.0 and Beyond: Sequencing the Protean Evolution of the System of Rice Intensification

As the System of Rice Intensification (SRI) has evolved in many ways and in several directions over the past two decades, this review follows the software-naming convention of labeling SRI’s different and subsequent versions as SRI 2.0, 3.0, 4.0, etc. In agroecology as with software, variants are not necessarily linear and can establish new directions as well as the further evolution of existing ones. This overview reviews how rainfed SRI, direct-seeded SRI, mechanized SRI, and other modifications of the initial SRI methodology have emerged since 2000, and how versions of SRI have been improvised to improve the production of other crops beyond rice, like wheat, finger millet, maize, and sugar cane. SRI thinking and practices are also being incorporated into diversified farming systems, broadening the logic and impact of SRI beyond monoculture rice cultivation, and SRI methods are also being used to achieve broader objectives like the reduction of greenhouse gas emissions and the conservation of biodiversity. SRI observations and research have been contributing to the crop and soil sciences by focusing attention on plant roots and soil ecology and by showing how crop management can elicit more desirable phenotypes from a given genotype. Cooperation regarding SRI among farmers, civil-society actors, scientists, private sector agents, governments, and funding agencies has begun introducing noteworthy changes within the agricultural sector, and this collaboration is expected to deepen and expand.

Political connections, family ownership and access to bank credit

This study investigates how firm-level political connections (PCs) play a role in their access to bank credit. We decompose the bank loan application process into the self-selection process of firms and the selection process of banks. Using 17,249 firms from 2018 to 2020, World Bank Enterprise surveys, we find that PCs are positively associated with the willingness of firms to apply for bank credit, the probability of credit approval, and favourable credit terms. Moreover, being a family firm raises the probability of securing credit approval by 21% and, when the firm is politically connected, the probability of obtaining secure loans without collateral is 11% greater than firms without political connections. In line with institutional theory, we argue that PCs promote efficiency by allowing private sector agents to circumvent cumbersome regulations in developing and transitional economies.

Learning with unobserved regimes

This paper introduces new economic dynamics induced by learning. Under monetary policy with regime switches, private sector agents learn about output and inflation, which are functions of their beliefs about those variables. The learners’ models are misspecified because they do not observe the regimes. The novel dynamics occur if the regime switches are slow relative to the learning speed: Learners’ beliefs do not converge to the single process that usually describes their asymptotic beliefs, but to a Markov switching process. Checking for this possibility is crucial: When it occurs, the standard analysis gives incorrect results about the equilibria to which beliefs and other endogenous variables will converge. In an extension in which the learners choose their learning speed optimally, the result is strengthened.

Availability and utilisation pattern of agricultural waste at household level in selected areas of Bangladesh.

The use of organic fertilisers and soil amendments are almost universally recommended for improving the organic matter levels and maintaining soil health, but few studies documenting the actual availability and quality of such materials on smallholder farms are available. We selected a case study of 300 households from northern and southern Bangladesh to assess the types of waste materials available for recycling and their usage patterns at household level and we applied a novel approach to empirically identify household waste as input inefficiency in a production context. Northern districts have highly intensive farming systems whereas southern districts have low intensity farming. The total amount of agricultural waste produced at household level was estimated at 822 kg per month. Cow dung contributed about 65% of the total waste followed by animal feed refusal waste (11%), garbage (7%) and kitchen waste (6%). Most of the farmers utilised cow dung and wastes as organic fertiliser and lesser amounts as cooking fuel. Econometric analysis shows that the number of cattle and small ruminant per holding, total area of cultivated land and family size were significant factors that influence the amount of waste production at household level. Each household can reduce the chemical fertiliser cost by Tk. 1463 (US$ 17.84) per month by using compost prepared from household waste. There were ample opportunities for compost/vermicomposting and potential markets. The Department of Agricultural Extension from the public sector and private sector agents might motivate farmers to harvest the potential benefits of agricultural waste through effective management and utilisation.

A computable general equilibrium model as a banking sector regulatory tool in South Africa

AbstractA computable general equilibrium (CGE) model is used as a regulatory tool for the banking sector in South Africa. The model is used to determine the effects of regulatory penalties, capital adequacy requirements (CAR) and the monetary policy on the economy. Our results indicate that there is a trade‐off between the default and the CAR regulation. For example, when reducing the default penalty, the banks' profits increase, whereas reducing the CAR violation penalty, banks' profits decrease. Changes to the default penalty have a stronger impact than changes in the CAR violation penalty (i.e. when both penalties are reduced, the banks' profits increase). Moreover, regulatory policies that are targeted at different banks produce asymmetric results, as well capitalised banks with richer portfolios swiftly readjust their balance sheet and transfer the default externality to the more constrained banks and/or the private sector agents.

Stakeholder Perceptions on the Governance of Fisheries Systems Transformed by Hydroelectric Dam Development in the Madeira River, Brazil

Hydroelectric dams often have significant impacts on freshwater fisheries. Major impacts are known to be driven by changes in river hydrology and fish ecology, but the role of governance arrangements in mitigating or exacerbating fisheries impacts from hydropower development is less understood. This study presents an analysis of stakeholder perceptions about the effects of hydroelectric dam implementation on fisheries governance arrangements in the Madeira River basin, Brazil. Semi-structured interviews were conducted with 50 stakeholders representing the fishers and fish traders, government, non-governmental organizations, and the private sector. Fishers, non-governmental, and private sector agents perceived hydropower development to be the strongest factor driving fisheries decline or change over the past 10 years, while government staff perceived overfishing to be an equally or even more important factor. Most stakeholders affirmed that fisheries governance arrangements have weakened in the face of hydropower development, and that these arrangements have been insufficient to effectively mitigate or compensate for negative impacts on fisheries. Fishers, non-governmental and private sector agents saw lack of opportunities to participate in fisheries governance as a major contributing factor, while government staff emphasized lack of qualified personnel, lack of trust between agencies, and control over the decision-making process held by hydropower companies. Perspectives on other implications of governance arrangements were shared across stakeholder groups. These included increased conflicts; lack of interaction and coordination between agencies; the fragility of fishers’ social organization; lack of trust and reciprocity between organizations; and power imbalances between stakeholders. The results show that hydropower development impairs and changes relationships between diverse players involved in fisheries governance, which can exacerbate existing weaknesses and negatively affect fishery sustainability. Drawing from the perspectives and comments of the various stakeholders who participated in the study, we provide recommendations to improve freshwater fisheries governance in the Madeira River basin and in the Brazilian Amazon.

Improving private security–youth relations in quasi-public spaces: control, care, cooperation

ABSTRACT The global growth of the private security sector is connected to the increasing number of quasi-public spaces policed as private ones but used as public ones. The intensive policing of young people in shopping centres has, however, led to problematic private security–youth relations. This article focuses on a new method in which youth workers train security guards to improve these relations in shopping centres in Finland. The study uses qualitative content analysis to explore unique data – security guards’ daily reports. The encounters displayed control, care and cooperation: security guards controlled the youths’ activities but also talked with them and helped them. The study argues that the role of security guards is even more plural and blurred than previously understood, including a “social” orientation, and cooperation with public, private and third sector agents. Finally, the study highlights the importance of developing procedural justice, both in theory and in practice.

Innovating with Nature: From Nature-Based Solutions to Nature-Based Enterprises

Nature-based solutions (NBS) to address societal challenges have been widely recognised and adopted by governments in climate change and biodiversity strategies. Nevertheless, significant barriers exist for the necessary large-scale implementation of NBS and market development is still in its infancy. This study presents findings from a systematic review of literature and a survey on private sector agents in the planning and implementation of NBS, with the aim to identify them. In this study, we propose a typology for organisations delivering NBS and a categorisation of their economic activities. The most common organisation type found is nature-based enterprise which offers products or services where nature is a core element and used sustainably and engages in economic activity. Moreover, eleven categories of economic activities were identified, ranging from ecosystem restoration, living green roofs, and eco-tourism to smart technologies and community engagement for NBS. Nature-based enterprises contribute to a diverse range of sustainable economic activities, that standard industry classification systems do not adequately account for. The recognition of the value created by these activities is essential for designing effective policy support measures, and for market development of the sector and its potential to facilitate the wider adoption of NBS.

Does fiscal stance affect inflation expectations? Evidence for European economies

According to the fiscal theory of the price level, in a non-Ricardian regime, high public debt should lead to a price-level increase so as to fulfill intertemporal government budget constraint. Forward-looking agents should anticipate this rise by pushing up their inflation expectations. This study tests the above hypothesis by analyzing the impact of fiscal sustainability on the formation of inflation expectations by private-sector agents – consumers and professional forecasters – in European countries. In the study, we estimate models of inflation expectations, and we include public debt among the explanatory variables. The novelty of this study lies in our analysis of whether the relationship between public debt and inflation expectations is affected by the degree to which fiscal policy is sustainable in European economies. We find that fiscal stance influences the inflation expectations of consumers and professional forecasters. Contrary to intuition, the reaction of consensus economic forecasts to public debt in countries with sustainable fiscal policies seems stronger than in economies with less disciplined fiscal policies. This may suggest that fiscal authorities are constrained by the way in which private-sector agents form their expectations, conducting more responsible fiscal policy in countries where the reaction of economic agents to fiscal variables is stronger.

Estimating the nutritional loss and the feeding potential derived from food losses worldwide

Abstract This study, focused on the concept of nutritional loss and waste (NLW), aimed to estimate the nutritional losses derived from food losses worldwide, estimating the number of people that could be fed with the amount of food loss worldwide, and confronting such estimate with the prevalence of undernourished people worldwide. We analyzed data on the estimated amount of food losses, considering different food types in nations worldwide, published by the Food and Agriculture Organization (FAO). The investigation estimated the amounts of kilocalories and proteins for each food item available in the FAO’s Food Balance Sheets. Data regarding energy and protein losses were converted into the feeding potential (FP) metric that evaluates the number of adult individuals that could be fed with the nutritional losses. The study uses the balance of feeding potential (BFP) obtained through the FP minus the prevalence of undernourished population. The results show that the total production of the main food groups in the world has drastically increased in the last decades, and the rate of loss for such food groups remains constant or slightly growing. Moreover, the results suggest that the amount of food losses registered by the FAO in 2017 would be enough to feed about 940 million adult individuals, being enough to feed the amount of undernourished people in the world. Furthermore, some countries present high levels of BFP, such as the United States, Brazil and China. In contrast, some other countries, such as India and Pakistan, show lower levels of BFP. Policymakers and private sector agents involved in global food systems should be focusing their attention on increasing supply chain efficiency and reducing food loss and waste (FLW) and NLW on a global scale. This study encourages the definition of an international treaty committing nations to significantly reduce their FLW and NLW levels.

A Computable General Equilibrium Model as a Banking Sector Regulatory Tool in South Africa

A Computable General Equilibrium (CGE) model is used as a regulatory tool for the banking sector in South Africa. The model is used to determine the effects of regulatory penalties, capital adequacy requirements (CAR), and the monetary policy on the economy. Our results indicate that there is a trade off between the default and the CAR regulation. For example, reducing the default penalty the banks profits increase whereas reducing the CAR violation penalty banks profits decrease. The effects of changing the default penalty are stronger than the ones of changing the CAR violation penalty such that when both penalties are reduced the banks profits increase. Moreover, regulatory policies which are targeted at different banks produce asymmetric results as well capitalized banks with richer portfolios swiftly readjust their balance sheet and transfer the default externality to the more constrained banks and/or the private sector agents. Finally, during periods of adverse economic conditions, tightening regulatory requirements reduces the banks profitability and increases defaults, and hence increases financial fragility.

Attenuating the forward guidance puzzle: Implications for optimal monetary policy

We examine the implications of less powerful forward guidance for optimal policy using a sticky-price model with an effective lower bound (ELB) on nominal interest rates as well as a discounted Euler equation and a discounted Phillips curve. When the private-sector agents discount future economic conditions more in making their decisions today, a future rate cut becomes less effective in stimulating current economic activity. Under a wide range of plausible degrees of discounting, it is optimal for the central bank to compensate for the reduced effect of a future rate cut by keeping the policy rate at the ELB for longer.

A classroom experiment in monetary policy

The authors propose a classroom experiment implementing a simple version of a New Keynesian model suitable for courses in intermediate macroeconomics and money and banking. Students play as either the central bank or members of the private sector. The central banker sets interest rates to meet twin objectives for inflation and the output gap or to meet only an inflation target. In both settings, private sector agents are concerned with correctly forecasting the inflation rate. The authors show that an experiment implementing this setup is feasible and yields results that enhance understanding of the New Keynesian model of monetary policy. They propose alternative versions where the central bank is replaced by a policy rule and provide suggestions for discussing the experimental results with students.

In or Out? Understanding How Social and Symbolic Boundaries Influence the Economic Integration of Transnational Migrants in Non‐Metropolitan Economies

AbstractThis article uses data from Australia and Northern Ireland to examine migrants’ inclusion in non‐metropolitan economies that have limited experience of migration. These places came to our attention in recent decades when the accelerated arrival of migrants presented challenges and opportunities within these so called New Immigration Destinations. We scrutinise migrants’ entry into, their participation in, and eventual mobility within, the labour market in these places. Contributing to the literature that challenges a linear concept of integration, social and symbolic boundaries are used to explore how migrants are included or excluded from rural and regional labour markets. We show how the state frames legal boundaries of inclusion and exclusion and how those boundaries are influenced and manipulated by a range of social actors, including private sector agents working within agri‐food businesses. We find a misalignment between different scales of social boundaries. At a macro level, migrants may be included in the labour market while in reality they can be excluded through everyday interactions.

Attenuating the Forward Guidance Puzzle: Implications for Optimal Monetary Policy

We examine the implications of less powerful forward guidance for optimal policy using a sticky-price model with an effective lower bound (ELB) on nominal interest rates as well as a discounted Euler equation and Phillips curve. When the private-sector agents discount future economic conditions more in making their decisions today, an announced cut in future interest rates becomes less effective in stimulating current economic activity. While the implication of such discounting for optimal policy depends on its degree, we find that, under a wide range of plausible degrees of discounting, it is optimal for the central bank to compensate for the reduced effect of a future rate cut by keeping the policy rate at the ELB for longer. JEL Classification: E52, E58, E61

Forward Guidance with Bayesian Learning and Estimation

Considerable attention has been devoted to evaluating the macroeconomic effectiveness of the Federal Reserve's communications about future policy rates (forward guidance) in light of the U.S. economy's long spell at the zero lower bound (ZLB). In this paper, we study whether forward guidance represented a shift in the systematic description of monetary policy by estimating a New Keynesian model using Bayesian techniques. In doing so, we take into account the uncertainty that agents have about policy regimes using an incomplete information setup in which they update their beliefs using Bayes rule (Bayesian learning). We document a systematic change in U.S. policymakers' reaction function during the ZLB episode (2009-2016) that called for a persistently lower policy rate than in other regimes (we call this the forward guidance regime). Our estimates suggest that private sector agents were slow to learn about this change in real time, which limited the effectiveness of t he forward guidance regime in stimulating economic activity and curbing disinflationary pressure. We also show that the incomplete information specification of the model fits economic outcomes over the economy's long spell at the ZLB better than the full information specification.

Attenuating the Forward Guidance Puzzle: Implications for Optimal Monetary Policy

We examine the implications of less powerful forward guidance for optimal policy using a sticky-price model with an effective lower bound (ELB) on nominal interest rates as well as a discounted Euler equation and Phillips curve. When the private-sector agents discount future economic conditions more in making their decisions today, an announced cut in future interest rates becomes less effective in stimulating current economic activity. While the implication of such discounting for optimal policy depends on its degree, we find that, under a wide range of plausible degrees of discounting, it is optimal for the central bank to compensate for the reduced effect of a future rate cut by keeping the policy rate at the ELB for longer.

Requalificação Urbana e Novas Centralidades na Cidade de Quelimane, Moçambique

Este artigo analisa a reestruturação urbana decorrente das atividades econômicas que vê0m sendo desenvolvidas por os agentes econômicos na cidade de Quelimane. Nele, fundamentam-se a urbanização e a expansão da cidade; a dinâmica econômica e a produção do espaço urbano, a reestruturação da cidade, a difusão do comércio e dos serviços especializados, bem como as desigualdades e precariedades socioespaciais. O estudo procura demonstrar como são retratadas as questões relacionadas com as atividades econômicas, os agentes e papéis destes intervenientes no processo de reestruturação urbana. Para o efeito, foi usada a pesquisa exploratória com abordagem qualitativa, tendo sido aplicadas entrevistas a respondentes-chaves para obter informação necessárias para a condução da pesquisa. Os resultados da pesquisa revelaram que a reestruturação urbana na cidade de Quelimane no passado recente decorreu de forma informal e espontânea e, ainda hoje, a produção do espaço urbano e as formas de sua expansão, é reflexo da conjuntura dos modelos de ocupação do mesmo; que as atividades econômicas de maior expressão nesse processo são as pequenas e médias empresas do ramo hoteleiro, de fornecimento de bens e serviços especializados, de comércio, de construção civil, de entretenimento e de transportes de passageiros, incluindo os táxis de bicicleta. O estudo sugere que, no processo de reestruturação urbana, o planificador físico seja mais cauteloso, rigoroso e minucioso para acomodar os interesses dos excluídos, bem como que o processo de reestruturação urbana e da expansão da cidade siga os modelos de requalificação urbana definidos não apenas nas normas instituídas no país, mas também os saberes locais, nesta era da globalização para acomodar os sistemas funcionais políticos, culturais e socioeconômicos.

Editorial: Revisiting the role of business, technical, and financial services in fostering rural entrepreneurship

Over the past 15 or so years authors in Enterprise Development and Microfinance (EDM) have written extensively about the design and implementation of microfinance and its use by the poor, whether to respond to shocks and changing contexts, invest in education, or advance livelihood goals (Figure 1 overleaf). Coverage has ranged from the specifics of designing microfinance schemes, access to them by the poorest, and their impact on wellbeing and poverty. While the debate on microfinance is far from over, it is true that discussions have been more concerned with managing, saving, borrowing, and moving money, than about building viable businesses. Business development involving the poor, which in many cases focuses on rural small and medium enterprises (SMEs), requires us to address the demand for a range of services which, taken together, enhance the capacities of rural SMEs. Such services need to be affordable and reliable, and address the productive and business needs of SMEs, from small-scale processors to multi-tiered agricultural cooperatives. The issues are complex with lingering questions about how different types of service providers, from government agencies and NGOs to various private sector agents, can better design their services; and how, through adequate delivery mechanisms, the capacity and willingness of SMEs to employ such services can be strengthened. In this Editorial, we discuss some of the key issues for advancing rural entrepreneurship via improved services and provide an outlook for future discussions.

EĞİTİM BÖLGELERİ VE EĞİTİM KURULLARI UYGULAMALARININ DEĞERLENDİRİLMESİ (DÜZCE ÖRNEĞİ)

use the sources effectively and properly in the direction of general aim and basic principles of national education. to complete each other and make an entire, to determine the areas where the students will be chasen, to form central sthools the areas where the students will be chasen, to form central school around less populated and disorganized areas, to use education people, physical capacity, school materials in education institutions commanly, effectivel and efficiently, to supply the participation and assistance of internal and external elements of school and local administrations, private sector and voluntary organization agents, to organize basic principles, management and functions of education areas and education committee that will help to raise the quality and continuity of education. In this context, this is a study that includes problems and solutions of education areas application and shows how a cooperation has been made in tree education areas in city