Regional Economic Conditions Research Articles

Quantifying Estimation Bias in Residential Appraisal

The purpose of this study was to empirically test the ability of residential appraisers to estimate market value of houses. Using a sample of over 500 appraisals made for corporate relocation firms, the appraisal estimates of market value were compared with the actual price that the houses sold for subsequently. The results indicate that current appraisal methods produce unbiased estimates of market value. Additional empirical results are presented that show that seasonal factors and regional economic conditions significantly explain variation in appraisal error.

Soils, Soil Scientists, and Civilization

AbstractSeveral past civilizations have suffered and gone into eclipse or extinction due in greater part to lack of stewardship and/or knowledge of their soil resources. Since the middle of the 19th century, U.S. soil scientists have provided major findings, technological advances, and intellectual leadership for the development of a highly productive agriculture sector that has contributed to a vigorous, dynamic civilization. Our present civilization is being threatened by locally excessive soil erosion and other degradation of our natural resources, currently aggravated by rural economic problems. However, recent and current famines appear to be more closely related to economic and political factors than to deficiencies in soil resources. The quantity and quality of our global soil resources seem capable of supporting our civilization at least well into the 21st century, but local areas of hunger will continue due to local and regional economic conditions and various forms of political disruptions and repressions. Humans now have the capability of degrading and polluting soil, water, and air resources on a global scale—much too quickly. But technologies for monitoring and controlling these degradations and for increasing our productivity are now becoming available, or soon will be. The Soil Science Society of America collectively and its individual members have good opportunities for and real challenges in developing and applying soil science expertise toward solutions of the problems facing our civilization now and in the future. But more trained soil scientists will be needed to accomplish these contributions. The Society and its members need to assess what they can do by working together within their areas of interests and with scientists in other fields. May the next 50 years of the Soil Science Society of America be even more vigorous and productive than the first 50 years.

Bitter Harvest: Intergovernmental Dimensions of the Farm Crisis

The recent and deep recession in American agriculture seriously affected state and local government finances and services in 1986. Sharp declines in farm land values began to erode the local property tax base in many rural communities, while rapidly rising property tax delinquencies created more immediate cash flow problems. Many farm states experienced serious budgetary shortfalls as revenue receipts from state income and sales taxes declined or failed to grow at expected rates. Both state and local fiscal problems were exacerbated by federal aid reductions, regional economic conditions, and rising service demands. Such problems made agricultural policy a major issue in the 1986 elections and prompted a proliferation of new policy initiatives, especially by state governments. Some of the policy approaches adopted or being considered raise fundamental questions about intergovernmental relations and methods of public service provision in a rapidly changing policy environment.

The Relief of Poverty, Attitudes to Labour, and Economic Change in England, 1660–1782

During the past two or three decades economic and social historians have displayed a sustained interest in the pre-conditions of the Industrial Revolution in England, and among the many explanations of this remarkable break-through into modern industrialization the role of labour (including population) has been accorded a prominent place. Yet although questions about wages, labour supply, productivity, poverty, and poor relief have been staple ingredients in the economic and social historian's diet ever since his discipline began to take shape in the late nineteenth century, there are still serious gaps in our knowledge of the size, composition, quality and living standards of the English labour force in the late seventeenth and eighteenth centuries. Some of these gaps may eventually be filled, at least partially, by detailed empirical studies of local and regional demographic, economic and social conditions. But even the most sanguine researcher must admit that there will continue to be deficiencies of data and unanswerable questions, so the need for interpretative, even speculative, studies will remain. The present paper falls within this latter category, for it is mainly concerned with the relationships between ideas, policies and conditions affecting the English labouring poor in the period under examination. It combines a review of the present state of knowledge of these matters with some speculative observations about causal connections and the possibilities of future research.

The role of environment and natural resources in territorial organization of the USSR economy

At present there is a tendency for the roles, in the economy, of the environment and natural resources to be interrelated. Economic factors have increasingly been affected by environmental impact in spatial economic organisation (ETO). The growth of production results in the constant increased consumption of natural resources. New sources (of inferior quality in the developed regions or in the regions with extreme conditions), formerly not exploited area now used. At the same time the following tendencies can be observed: increased concentration of production, more complicated branch structure, growth in number of manufacturing industries, decline in the share of mining in industrial output. This tendency is accompanied by the spatial disjunction of technologically interconnected industries (dealing with mining and processing of raw materials) and by the formation of new industrial integrations (not dealing directly with natural resources utilization). In this complicated situation the investigation of natural resources and of the environmental role in the spatial organisation of the economy is becoming of special relevance. In the author's opinion while investigating this problem the type of social system should be considered, as well as the level of development of productive forces and the combination of regional nature and economic conditions. Three aspects of investigation—branch, spatial and functional—are proposed. The analysis of natural resources and environmental impact the spatial organisation of the economy in each of mentioned aspects should be performed on different scales—local, regional, national and international levels. The approach to problem investigation is based on the analysis of data about the USSR. and exemplified. The investigators recommend the application of Soviet experience in this field by the geographers of other countries.

Play it Again Sam — an Essay on Salmon Enhancement

For more than 100 years efforts have been made to increase the abundance of the various species of Pacific salmon. The success of these ventures is largely a matter of conjecture because the scale of natural fluctuations is sufficient to mask the effect of human intervention. No well-defined program for salmon enhancement has yet been developed for British Columbia as a whole. This is mainly attributable to the pressures for providing protection for the existing stocks in the circumstances of an intensive fishery and increasing effects of other resource uses.From a social point of view, salmon enhancement is a highly desirable activity. Salmon occupy a special place in the culture of residents of the Pacific coast. Salmon arc economically valuable and salmon fishing provides a rich source of employment. Recreational fisheries are valuable but their true economic worth is difficult to judge. Benefit:cost ratios for salmon enhancement should be calculated for whole programs rather than for individual projects to obtain an approach consistent with the desirable strategy of development.From a biological point of view, salmon enhancement is feasible. There is potential in the ocean for growing more salmon; many historic runs can be rebuilt and there are many opportunities for colonizing watersheds that are currently inaccessible to salmon. Harvesting of increased stocks of salmon could pose risks for natural stocks that are relatively unproductive. More effective management and development of new strains of salmon may be required in these circumstances. Predator-control programs may in some instances be useful adjuncts to salmon-enhancement projects.The types of enhancement activity that will most likely be rewarding are those that interfere least with the natural life history. Removal of obstructions, regulation of stream flow, construction of artificial spawning channels, are typical simple measures that involve less research information and less risk than rearing hatcheries.Priorities for different salmon-enhancement projects involve consideration of the regional economic and social conditions as well as appreciation of the biological and physical problems. Regardless of priorities it is essential to a successful program that there be a commitment to continuity. Additionally, the total administrative complex for salmon enhancement should involve research components.The execution of a successful salmon-enhancement program depends on the establishment of an agency with the single responsibility of salmon enhancement. The financing of a successful program should depend partly on revenues generated from the resource users, such as a tax on commercially caught salmon, a license for saltwater angling. Special grants from federal and provincial governments would also be appropriate. Regardless of the administrative arrangements, it is urgently necessary that provincial government involvement be more substantial than it is at present. With their control over resource management practices, the provincial government is in a vital position for maintenance of freshwater environments.An investment of at least $100 million, and probably twice that amount, could be undertaken in a salmon-enhancement program that could be executed within 10 years. There are compelling reasons for starting on this enhancement program immediately.

Studies on the Anaemia of Women in Agricultural Districts

Anemia in the inhabitants of the agricultural districts involves more serious problems in females than in males. Having established mass anemia screening method, the author made mass anemia screening in two districts in Chiba Prefecture and two districts in Shizuoka Prefecture in Japan, to elucidate the current status of anemia in women in the agricultural district. The results were as follows:1. In the collective anemia screening, the laboratory tests of the hemoglobin level, hema-tocrit value, specific gravity of blood and serum protein level sufficed. The determination of the hemoglobin level proved of particular importance.2. The hemoglobin levels lower than 12.Og/dl could be employed as one of the criteria for diagnosing anemia in housewives. It was found necessary to further examine the currently employed criteria for other laboratory test items (namely, hematocrit value, specific gravity of blood and serum iron) . The results obtained by the author indicated that the serum iron of less than 7Oμg/dl would be more adequate as a criterion for dia-gnosing anemia.3. The screening was made on about 600 housewives in the said agricultural districts, and the mean values of the laboratory tests performed were as follows: hemoglobin, 13.36± 1.47g/dl; specific gravity of blood, 1.0543±0.0031; hematocrit, 41.58±3.87%; serum iron, 94.48±35.85mg/dl; serum protein, 7.50±0.49g/dl.4. The incidence of the hemoglobin levels less than 12.Og/dl varied from district to district, but remained in the range from 11.4 to 25.2%.5. In the Ikawa district of Shizuoka City, anemia screening was made once a year, every year, for four years. The results revealed that the incidence of anemia in males was very low, and that it was in housewives that anemia would cause problems in the agricultural district. Analysis of the findings in the housewives in the said district elucidated that the incidence of anemia in them was related to their income or the intakes of nutrients.6. The tests of the serum iron and the iron-binding capacity of serum led to a conclusion that it was iron deficiency anemia that was found in the housewives.7. It was disclosed that the causes of iron deficiency anemia in the housewives were closely related to overworks and poor nutrition, but often associated with diseases such as anacidity and genital bleeding.8. It was further found that it would be possible to solve this problem of anemia in housewives in the agricultural district in Japan, by first discovering anemic housewives, and then giving them guidance from the standpoint of public health and approaching them from the medical standpoint. Problem for prevention of the anemia, it is, however, necessary to always give due consideration to the regional social and economic conditions .

Claus Spreckels and The Oxnard Brothers: Pioneer Developers of California's Beet Sugar Industry, 1890-1900

During the half century following the gold rush, California was transformed from a provincial mining and cattle frontier into an urbanized and industrialized state. Gold mining and cattle ranching accounted for nearly all of the wealth in California until about 1870. But thereafter a marked decline set in which reduced the annual output [of gold] from about $50,000,000 in 1859 to some $18,000,000 in 187o.1 In the decade of the 1 860s the cattle industry was beset by a number of difficulties from which never recovered. Disputed land titles, the great drought of 1863-64, and many mortgage foreclosures led to the demise of cattle ranching. Ironically, this circumstance was really a blessing in disguise for it led to those diversified and productive forms of which have for so long furnished the basis of Southern California's prosperity, and determined her whole mode of life.2 One of these highly productive forms of agriculture that rapidly gained nationwide prominence was the California beet sugar industry.3 In 1870 the nation's first commercial beet sugar factory was erected at Alvarado, California, by Ebenezer H. Dyer, who also organized the California Beet Sugar Company. For nearly twenty-one years Dyer struggled successfully against formidable odds to incubate the infant industry during its dormant period.4 The beet sugar industry in the state was not put on a sure footing, however, until about 1890. In the following decade California became the country's leading producer of beet sugar, operated the largest number of beet sugar factories in the United States, and boasted the largest sugar plant in the world. There were a number of factors that help to explain this phenomenal growth. The climate and soil of the state were conducive to the cultivation of beets.6 Regional and national economic conditions were favorable

The Regional Economic Conditions in South Sumatra Province

The Regional Economic Conditions in South Sumatra Province

FACTORS DETERMINING ADEQUACY OF CAPITAL IN COMMERCIAL BANKS*

THE FIRST THREE CHAPTERS of this thesis discuss capitalization in the perspective of the search for safety over the period of history of banking in the United States, the philosophy of the supervisory focus on capital based in depression experience, and the negligible effect of supervision on allocation of assets and capital. Analysis of the real factors influencing the quantity and quality of capital is similar to a study in econometrics with size, growth, and profitability as the independent variables and capitalization as the dependent variable on the first level. Independent variables on the first level become dependent variables on the second level with other independent variables influencing them. Quantitative and qualitative influences exist on both levels of analysis. Capitalization is a function of size and growth factors which vary in their influence according to growth conditions and policies affecting structure (Chapter IV). Profitability is also a function of size and growth. Although profitability fluctuates in the short run with given levels of capitalization, in the long run levels of capitalization adjust to achieve competitive rates of return regardless of differences in size and growth. The principle that secular changes in capitalization occur through changes in capital rather than through changes in deposits and assets is established by multiple correlation analysis for banks in the United States for the period 1953-62 (Chapter V). On the second level of analysis, two sets of independent variables influence size, growth, and profitability. One set includes local influences. A comparative case study of five commercial banks illustrates that, within size groups, variations in capitalization are associated with local and regional economic conditions, competitive conditions among banks and between banks and savings and loan associations, and philosophy of management in the individual bank. The local variables other than economic conditions are not weighted or designated as causes or effects since there is mutual interaction. The alternative choices of management in seeking to maximize profit are limited by bank history, existing competitive arrangements, and local economic conditions. The levels of capitalization which result are not the free choice of management (Chapter VI). The most pervasive set of independent variables on the second level of analysis includes the nature of the economy, the environment provided by government, and the nature of the banking system. Changes in public policies are causes and effects of this set of variables. Independent changes in the set induce changes in public policy, and vice versa. Historically the issues of policy portrayed a parallelism which no longer exists. The parallel issues included tight (sound) money versus easy (unsound) money, concentration of financial power (federal power) versus decentralization of financial power (states' rights), and safety versus competition. The disappearance of a strict parallelism is the result of the development of a nationwide interdependent economy and the transfer of political and economic power from the

Inter-Regional Differences in Levels of Income: Are There `Two Nations' or One?

FROM about I958 concern about regional economic problems mounted; after being absent for a decade from the centre of economic controversy, regional issues became once more a prominent theme. Initially it was the rise in unemployment during the recession of I 958, felt most heavily in the regions which had suffered most severely in the inter-war years, which revived the concern of economists and the general public; but in the years that followed it came to be recognized that considerable inter-regional differences existed in fields other than unemployment. Some commentators have, indeed, gone as far as to discern 'two nations' in a geographical sense within Britain, a prosperous and rapidly progressing South, and a North where economic progress is slower and conditions of life worse in nearly all respects. How the boundaries are drawn depends on the degree of subdivision in the data used; but since so many of the indicators of regional economic conditions are presented in terms of the standard regions, the distinction between North and South is usually drawn in these terms too. Not all the measures of economic conditions pick out the same boundary between the 'two nations'. If unemployment rates were the criterion, the East and West Ridings of Yorkshire would be included in the more prosperous 'nation', since the unemployment rate there has averaged within 0.3 per cent of the rate in South-East England. But in order to avoid entanglement in lengthy and inconclusive disputes about definitions, it is appropriate to accept the definition explicitly or implicitly put forward by those advancing the 'two nations' thesis, namely that the distinction is between Northern Ireland, Scotland, Wales, and the three northern regions of England on one hand, and the Midlands and South of England on the other. Since the distinction is widely considered to exist not only in unemployment rates and rates of growth of population and employment but also in levels of income, it is of interest to examine in detail such evidence as is available about inter-regional differences in income to show how great the differences are, whether or not they are systematic in terms of the 'two nations' hypothesis, and how they have been changing. Whether the differences shown are large enough to be regarded as evidence for the existence of 'two