2,790,864 research outputs found

    Rethinking the State-Local Relationship: Local Economic Development

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    Examines issues involved in shifting responsibility for redevelopment and enterprise zones from the state to localities, including relaxing local funding constraints to give localities more authority and incentives to support the most effective programs

    Development of Local Allometric Equation to Estimate Total Aboveground Biomass in Papua Tropical Forest

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    Recently, pantropical allometric equations have been commonly used across the globe to estimate the aboveground biomass of the forests, including in Indonesia. However, in relation to regional differences in diameter, height and wood density, the lack of data measured, particularly from eastern part of Indonesia, may raise the question on accuracy of pantropical allometric in such area. Hence, this paper examines the differences of local allometric equations of Papua Island with equations developed by Chave and his research groups. Measurements of biomass in this study were conducted directly based on weighing and destructive samplings. Results show that the most appropriate local equation to estimate total aboveground biomass in Papua tropical forest is Log(TAGB) = -0.267 + 2.23 Log(DBH) +0.649 Log(WD) (CF=1.013; VIF=1.6; R2= 95%; R2-adj= 95.1%; RMSE= 0.149; P<0.001). This equation is also a better option in comparison to those of previously published pantropical equations with only 6.47% average deviation and 5.37 points of relative bias. This finding implies that the locally developed equation should be a better option to produce more accurate site specific total aboveground biomass estimation

    Does Local Financial Development Matter?

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    We study the effects of differences in local financial development within an integrated financial market. To do so, we construct a new indicator of financial development by estimating a regional effect on the probability that, ceteris paribus, a household is shut off from the credit market. By using this indicator we find that financial development enhances the probability an individual starts his own business, favors entry, increases competition, and promotes growth of firms. As predicted by theory, these effects are weaker for larger firms, which can more easily raise funds outside of the local area. Overall, the results suggest local financial development is an important determinant of the economic success of an area even in an environment where there are no frictions to capital movements.
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