Where should livestock graze? Integrated modeling and optimization to guide grazing management in the Cañete basin, Peru

Integrated watershed management allows decision-makers to balance competing objectives, for example agricultural production and protection of water resources. Here, we developed a spatially-explicit approach to support such management in the Cañete watershed, Peru. We modeled the effect of grazing management on three services – livestock production, erosion control, and baseflow provision – and used an optimization routine to simulate landscapes providing the highest level of services. Over the entire watershed, there was a trade-off between livestock productivity and hydrologic services and we identified locations that minimized this trade-off for a given set of preferences. Given the knowledge gaps in ecohydrology and practical constraints not represented in the optimizer, we assessed the robustness of spatial recommendations, i.e. revealing areas most often selected by the optimizer. We conclude with a discussion of the practical decisions involved in using optimization frameworks to inform watershed management programs, and the research needs to better inform the design of such programs

A framework for regulating microfinance institutions : the experience in Ghana and the Philippines

An earlier Policy Research Working Paper (Hennie van Greuning, Joselito Gallardo, and Bikki Randhawa,"A Framework for Regulating Microfinance Institutions,"WPS 2061, February 1999) presented a regulatory framework that identifies thresholds in financial intermediation activities that trigger a requirement for a microfinance institution to satisfy external or mandatory guidelines-a tiered approach to regulation and prudential supervision. The model focuses on risk-taking activities of microfinance institutions that must be managed and prudentially regulated. The author reports on the results of the field testing and assessment of the tiered approach, focusing on the experience of Ghana and the Philippines. The two countries both have a wide range of informal, semi-formal, and formal institutions providing financial services to the poor, but differ in how they regulate financial intermediation activities by microfinance providers. In his assessment and a comparative analysis, the author focuses on key issues in the regulatory and supervisory environment for microfinance-and in the legal system and judicial processes-being addressed by government authorities and microfinance stakeholders in both countries. He gives particular attention to the thresholds at which intermediation activities become subject to prudential regulation and regulatory standards for capitalization and capital adequacy, asset quality and provisioning for nonperforming loans, and liquidity management. seeks to identify the key elements and characteristics of the microfinance regulatory experience of Ghana and the Philippines and to draw the lessons that may be useful for other countries interested in establishing a regulatory environmentconducive to the development of sustainable microfinance institutions. The experience of Ghana and the Philippines shows that a transparent, inclusive regulatory framework is indispensable for enabling microfinance institutions to maintain market specialization and to pursue institutional development that leads to sustainability. Clear pathways for institutional transformation facilitate the integration of microfinance institutions into the formal financial system.Payment Systems&Infrastructure,Banks&Banking Reform,Rural Finance,Financial Intermediation,Decentralization,Banks&Banking Reform,Rural Finance,Financial Intermediation,Governance Indicators,Poverty Assessment

Achieving High Performance in the public sector in Zambia: Where are we and what needs to be done?

What is the level of high performance in the public sector? What are the factors representing a significant challenge to high performance in the public sector in Zambia? This paper uses the HPO Framework developed by De Waal (2008) to identify the factors that are slowing down the Ministry of Commerce, Trade and Industry departments in achieving high performance.  In November and December 2012 the HPO Questionnaire was distributed, via the internet, to all managers and employees of MCTI and four statutory bodies under MCTI. In total 171 completed questionnaires were received which constituted a response rate of 42.3%. Subsequently, a workshop was organized in Lusaka, with representatives of all departments of MCTI and the four statutory bodies. Therefore, this paper is based on results the HPO Questionnaire and the workshops that were conducted by the author and Dr de Waal, Director of HPO Centre, Netherlands. It was established that the public sector in Zambia did much better on all the characteristics of the high performance framework. However, two of the statutory bodies were focusing on different factors. The results further serve as a basis for adoption of the High Performance Framework in the public sector in Zambia. The research depicted areas for high performance in the public sector in a developing country which past research may not have been done. However, the key limitation was that the study one focused only on one ministry therefore, the results may have limited inference to other organisations in the Zambian public sector. Key words: High Performance, Public Sector, HPO Framewor

Sovereign Net Worth: An Analytical Framework

The Fiscal Responsibility Act requires the Crown to articulate targets for a series of fiscal variables, including net worth. Given the dramatic improvement in the fiscal position in recent years, a critical policy question relates to how (and which) measures of Crown net worth should be targeted. This paper sets out a framework for targeting Crown net worth. It does so by supplementing the GAAP-based measure with forward-looking information about spending and tax revenue. The paper argues that targeting net worth for the Crown requires the estimation of a path, rather than a static level.

Un análisis cuantitativo de la gestión de la cartera de gobierno para la innovación de productos en sistemas de gestión de la organización

This paper presents a quantitative analysis of portfolio governance management for product innovation in organization management systems. With only access to certain resources in a competitive environment to manage several projects, many organizations are using project portfolio management these days.  To improve the results there is a need to implement the strategies, as the limited success of existing techniques. With the use of a limited number of resources using this approach, multiple projects can manage in a better way. It can be successful by using portfolio governance management. There is a need to understand the governance of the organization when it is applied to programs, portfolios, and projects before achieving the objective of organizational strategy. In the strategic initiative and success of portfolios, the governance management plan is considered as a major factor. En este documento se presenta un análisis cuantitativo de la gestión de la gobernanza de la cartera para la innovación de productos en los sistemas de gestión de las organizaciones. Al tener acceso únicamente a ciertos recursos en un entorno competitivo para gestionar varios proyectos, muchas organizaciones están utilizando la gestión de la cartera de proyectos en la actualidad.  Para mejorar los resultados es necesario aplicar las estrategias, como el éxito limitado de las técnicas existentes. Con la utilización de un número limitado de recursos mediante este enfoque, se pueden gestionar mejor varios proyectos. Puede tener éxito utilizando la gestión de la cartera de proyectos. Es necesario comprender la gobernanza de la organización cuando se aplica a los programas, carteras y proyectos antes de lograr el objetivo de la estrategia de la organización. En la iniciativa estratégica y el éxito de las carteras, el plan de gestión de la gobernanza se considera un factor importante.&nbsp

High speed rail transport valuation and policy decisions

The present paper investigates the process of decision making regarding the optimal timing to invest in the high speed rail (HSR) project, under uncertainty, using the real options analysis (ROA) framework. It’s developed a continuous time framework that allows a solution to the problem concerning the optimal timing to invest and to value the impact of the option to defer in the overall valuation of the project, with multiple uncertainty factors. Besides considering a stochastic demand, the effect of uncertainty in the investment’s expenditure and over the benefit per user is incorporated in a model with three stochastic variables. The modelling approach used is based on the differential utility provided to railway users by the HSR service.info:eu-repo/semantics/publishedVersio

Reforming the over-the-counter derivatives market: what’s to be gained?

While derivative financial instruments have made the hedging and exchange of risk more efficient, the recent crisis showed that they also pose a substantial threat to financial stability in times of systemic turmoil. Underlying much of this threat is the lack of transparent reporting in the over-the-counter market for these instruments. This Commentary discusses the advantages of one solution to the transparency proble: moving the settlement or trading of derivatives to exchanges or clearinghouses.Derivative securities ; Financial market regulatory reform ; Over-the-counter markets

Dynamics of Buyer-Supplier Co-dependency for Optimizing Functional Efficiency

The performance related issues of buyer-supplier relationship have attracted both the academic and corporate managers. The study attempts to make theoretical contributions to the literature on relationships in marketing channels. Compared with the impact of the often-investigated construct of dependence structure, the impact of channel function performance on relationship quality is relatively large. This study has been conducted in reference to the suppliers of office equipments serving to the industrial accounts in Mexico. The study addresses broadly the issues as to what extent is the impact of quality performance responsible for doing business with the organizational buyers. Discussions also analyze the impact of channel function performance on relationship quality, which is moderated by the extent dependence structure of the relationship.Buyer behavior, supplier performance, co-dependency, supply design, profit optimization, buyer value, market coverage, conformance, supply quality