Determining the Discount Rate for Government Projects

Discount rates are widely used in the public sector to assess policy proposals where costs and benefits accrue over long time periods. Socially optimal policy choices require an appropriate choice of discount rate. This paper assesses the applicability of the two key theoretical approaches to selecting discount rates in the public sector. The two key theoretical approaches considered are the social rate of time preference and the social opportunity cost. Estimation issues in determining the rate using these two approaches are reviewed. The social rate of time preference is considered to be the appropriate approach. When estimates of the social rate of time preference are unavailable or clearly unreliable and the Government is considering financing a project, the social opportunity cost should be used. The social opportunity cost can be used as a proxy for the social rate of time preference. The paper presents an example using the capital asset pricing model in a weighted average cost of capital formula to determine a social opportunity cost.Discount rate; Social opportunity cost; Social rate of time preference

Social Networks of Researchers in Business To Business Marketing: A Case Study of the IMP Group 1984-1999

Science is a social process that functions through social networks of researchers that form invisible colleges. Analysis of these social networks provides a means for examining the structure of relations among researchers. The Industrial Marketing and Purchasing (IMP) group, "an informal international group of scholars concerned with developing concepts and knowledge in the field of business-to-business marketing and purchasing," is used as a case study of a network of researchers because it has been responsible for considerable research over the last decades in the area of business-to-business marketing, yet its structure remains hidden because of its informal network characteristics. The results of a social network analysis of the IMP group is described based on the pattern of co-authorship at annual IMP conferences. The results reveal a power law distribution of paper co-authorship and a small world network that conforms to the results of studies of other types of social networks. A core network of 57 researchers is identified and its network properties are described, including how it has evolved over time. The study provides the basis for further studies of the social networks of marketing and business researchers.informal networks, business-to-business marketing

The young people's consultation service: An evaluation of a consultation model of very brief psychotherapy

The Young People's Consultation Service (YPCS) is a four‐session, self‐referral, psychodynamically‐oriented psychotherapeutic consultation service for young people aged between 16 and 30, at the Tavistock and Portman NHS Foundation Trust in London. Aim: It was hypothesized that clients would show an improvement on outcome measures at the end of the four sessions. It was also hoped that the data would identify characteristics of the clients who show the most benefit. Method: A review of the case‐notes of all clients attending the service between January 2003 to April 2006 was carried out, and details were entered into a database, including demographic information, presenting issues and attendance. Clients were given the Youth Self‐Report form (YSR) (Achenbach, 1991) or the Young Adult Self Report form (YASR) (Achenbach, 1997), according to age, before the start of the intervention and at the end of the four sessions. Outcome data were analysed, comparing pre‐ and post‐treatment scores on the YSR/YASR. Results: A total of 236 clients attended the service during the study period. Pre‐ to post‐comparison data on the YSR/YASR was available for 24 clients. Of those, YSR/YASR scores reduced significantly on all subscales and severity reduced over time in all cases. In addition, there was a trend towards moving from the clinical to the non‐clinical range, reaching statistical significance on the Internalizing and Total subscales. A number of YPCS clients showed both statistically significant and clinical improvement on the Internalizing and Externalizing scales of the YSR/YASR, with a greater number showing improvement on the Internalizing scale. Conclusions: Improvements were found on all subscales of the YSR/YASR at the end of the four session intervention. A greater number of clients showed improvement on the Internalizing subscale, suggesting that this form of very brief psychotherapy is most effective for clients with emotional problems

Clinical trial metadata:Defining and extracting metadata on the design, conduct, results and costs of 125 randomised clinical trials funded by the National Institute for Health Research Health Technology Assessment programme

Background:  By 2011, the Health Technology Assessment (HTA) programme had published the results of over 100 trials with another 220 in progress. The aim of the project was to develop and pilot ‘metadata’ on clinical trials funded by the HTA programme.   Objectives: The aim of the project was to develop and pilot questions describing clinical trials funded by the HTA programme in terms of it meeting the needs of the NHS with scientifically robust studies. The objectives were to develop relevant classification systems and definitions for use in answering relevant questions and to assess their utility.   Data sources: Published monographs and internal HTA documents.   Review methods: A database was developed, ‘populated’ using retrospective data and used to answer questions under six prespecified themes. Questions were screened for feasibility in terms of data availability and/or ease of extraction. Answers were assessed by the authors in terms of completeness, success of the classification system used and resources required. Each question was scored to be retained, amended or dropped.    Results: One hundred and twenty-five randomised trials were included in the database from 109 monographs. Neither the International Standard Randomised Controlled Trial Number nor the term ‘randomised trial’ in the title proved a reliable way of identifying randomised trials. Only limited data were available on how the trials aimed to meet the needs of the NHS. Most trials were shown to follow their protocols but updates were often necessary as hardly any trials recruited as planned. Details were often lacking on planned statistical analyses, but we did not have access to the relevant statistical plans. Almost all the trials reported on cost-effectiveness, often in terms of both the primary outcome and quality-adjusted life-years. The cost of trials was shown to depend on the number of centres and the duration of the trial. Of the 78 questions explored, 61 were well answered, 33 fully with 28 requiring amendment were the analysis updated. The other 17 could not be answered with readily available data.   Limitations: The study was limited by being confined to 125 randomised trials by one funder.   Conclusions: Metadata on randomised controlled trials can be expanded to include aspects of design, performance, results and costs. The HTA programme should continue and extend the work reported here

Research for better aid: an evaluation of DFAT’s investments

Assesses the degree to which the investment by the Australian aid program into research has been appropriate, effective and efficient, and provides recommendations for improving DFAT’s future management of research investment. Foreword Explores how research investment can be best managed to ensure DFAT supports aid innovation and high-quality aid program and policy decision-making. The evaluation focuses on whether the management of DFAT’s considerable development research investment has been appropriate, effective and efficient. Employing a multi-dimensional evaluation method, it draws on the experiences of DFAT staff and stakeholders, as well as the available expenditure data, in arriving at a set of well-supported findings and recommendations. The report makes several important points about the need for DFAT to have a clear sense about why and how it funds research. The department’s managers and officers need especially to be conscious of the effectiveness and efficiency risks implicit in their highly devolved form of research investment management. These risks will be reduced if robust knowledge management systems and a strong culture of research use are embedded in the department. The experience of other aid donors indicates that achieving this will be a significant challenge. The evaluation also makes a finding with clear implications for the way the department engages with research institutions in partner countries. It shows that, while the department’s research funding to Australian institutions increased significantly from 2005 to 2013, the level of direct funding to partner country institutions did not increase to the same extent and was, indeed, flat over the last five years of that period. There are clear benefits to be had in building research capacity in those institutions, either directly or through partnerships with Australian and international researchers. Given Australia’s ongoing investment in the Pacific, this may be a region in which future research funding can be focused.   &nbsp

Journal of African Christian Biography: v. 3, no. 3

A publication of the Dictionary of African Christian Biography with U.S. offices located at the Center for Global Christianity and Mission at Boston University. This issue focuses on: 1. Aberi K. Balya, Stefano Reuben Moshi, and John Mary Waliggo: Faithful African Christian Ancestors by Edison M. Kalengyo. Biographies by John Kateeba Tumwine and Louise Pirouet. 2. Wellington Mulwa and Harambee: Leading the Church in Partnership with Western Missionaries, a Biography by F. Lionel Young. 3. African Retrospect and Prospect: A Christian view from Kenya - Interview with Jesse Mugambi, with Jonathan Bonk, interviewer. 4. Recent Print and Digital Resources Related to Christianity in Africa

Community engaged GP training. Does it make a difference?

Much effort and funding is spent on GP training in Australia but there is little data on how GP training in rural and remote areas impacts communities. Since 2001, the Australian General Practice Training (AGPT) program has required at least 50% of general practice training to occur in rural areas despite lack of information about the effectiveness of rural training. A study conducted by a new RTO, Generalist Medical Training (GMT), part of James Cook University's (JCU's) College of Medicine and Dentistry, aimed to identify aspects of GP training which have impacted rural/remote registrars' experience, their supervisors, training posts/practices, and the local community. Perspectives were obtained from 37 semi-structured interviews with 14 GP registrars, 10 supervisors, and 13 practice managers. This presentation focuses on the community impact of training and supervising GP registrars in rural and remote areas of north-west Queensland. The primary themes extracted from the data relate to the perceptions of doctors’ contribution to underserved communities and community expectations of the medical workforce. Rural and remote communities hold three main expectations of the medical workforce: 1) Patient-Centred Care; 2) Preventive Care and Continuity of Practice; and 3) Quality of GP registrars and supervisors. It was also identified that registrars and supervisors who uphold these expectations are involved and invested in the community and in their role of being a trusted 'family doctor'. Effective and well-focused training is also said to impact positively on registrars’ learning by enhancing their scope of practice, their feeling of accomplishment, and resilience. As a whole, community involvement and investment also enhances medical reputation and morale amongst doctors and community members. Further investigations are underway to explore how best to approach community engaged GP training