Optimal intertemporal investment in Australian agriculture: An empirical investigation

This paper empirically investigates optimal intertemporal investment behaviour of farmers in Australia. The dynamic investment model is estimated using pooled crosssectional and time-series farm survey data spanning the period 1979-1993. The model captures intertemporal investment behaviour of farmers, including independent and instantaneous adjustment decisions. Empirical test results indicate that labour, capital, sheep numbers and cattle numbers adjust sluggishly towards their long-run equilibrium levels. Results provide empirical evidence to indicate that adjustment problem is characteristic of production in agricultural zones Australia.Australia, agricultural zones, optimal intertemporal investment model, quaxi-fixity, adjustment costs, Farm Management, Research Methods/ Statistical Methods, C33, C12, C13, C61,

CAUSALITY LINKS BETWEEN ASSET PRICES AND CASH RATE IN AUSTRALIA

This paper seeks to empirically investigate the causal linkages between asset prices and Australia’s cash rate. Quarterly data spanning the period 1980:1 and 2002:4 were employed in the analysis. The Johansen MLE multivariate co-integration procedure reveals that Australia’s cash rate and key determinants are co-integrated, and thus share a long-run equilibrium relationship. The Stock-Watson dynamic OLS model (DOLS), which is superior to a number of alternative estimators, finds empirical evidence of significant long run relationship between Australia’s cash rate and house prices, stock market prices, inflation rate and Australia’s real gross domestic product, and United States cash rate and real gross domestic product. The US cash rate Granger causes Australia’s cash rate. Australia’s stock market price Granger causes Australia’s house prices. The Granger causality test reveals a unidirectional causality from house prices to Australia’s cash rate, which is contrary to the conventional wisdom of a bi-directional causality running from the cash rate to house prices.Australia, cash rate, house prices, cointegration, Stock-Watson DOLS

Empirical investigation of investment behaviour in Australia's pastoral region

Optimal intertemporal investment behaviour ofAustralian pastoralists is modelled using panel data for the period 1979–1993.Results indicate that quasi-fixity of inputs of labour, capital, sheep numbers and cattle numbers is characteristic of production in the pastoral region. It takes about two years for labour, four years for capital and a little over two years for both sheep numbers and cattle numbers to adjust towards long-run optimal levels. Results also indicate that, after accounting for adjustment costs, own-price product supply and input demand responses are inelastic in both the short and long run.adjustment costs, pastoralism, supply response, Agribusiness,

Impact of Health and Safety Management on Employee Safety at the Ghana Ports and Harbour Authority

The Ghana Ports and Harbour Authority (GPHA) has been plagued with series of fatal accidents and catastrophes claiming the lives of many employees in recent years. The purpose of this study is to examine the Safety and Health Management Systems (SHMS) implemented by the GPHA, assess the effectiveness of these measures in reducing accidents and death; and evaluate the impact of accidents and work-related illnesses on the employee safety at work. The results reveal an organisation fraught with poor health and safety management practices, poor training in safety know-how, lack of information on dangerous chemicals and hazardous materials, lack of monitoring and enforcement of safety rules, unavailability of essential safety equipments, with adverse effects on employees and the organisational performance. GPHA must increase education and create awareness of the importance of health and safety, ensure collection and storage of data for effective monitoring and evaluation of safety performance. Keywords: Ghana, Ports, Harbour, Safety, Healt

ON THE ESTIMATION OF DEMAND SYSTEMS WITH LARGE NUMBER OF GOODS: AN APPLICATION TO SOUTH AFRICA HOUSEHOLD FOOD DEMAND

The estimation of large demand systems to investigate the patterns of consumption of households is notoriously difficult. This study develops a modified Almost Ideal Demand System model based on a flexible two-stage budgeting demand modelling framework to examine the effect of estimation procedures (Bottom-up and Top-down) on South African household food consumption parameters. Household food consumption was divided into seven broad food groups: meat and fish; grains; dairy products; fruits; vegetables; other foods. The demand systems were estimated using data from the 1993 South Africa Integrated Household Survey (SIHS) conducted by the South African Labour and Development Research Unit (SALDRU). Empirical results indicate that the Top-down approach is more suited for estimation of South African household food demand. Results indicate that own-price do play an important role in influencing household food consumption. Results also indicate no presence of gross substitution between and within food groups. Expenditure elasticity estimates indicate that meat and fish, dairy products and fruits are luxury products, while grains, vegetables and other foods are necessities in South African household diet.Consumer/Household Economics, Research Methods/ Statistical Methods,

Land use land cover change and land surface emissivity in Ibadan, Nigeria

There are many drivers of climate change. The urbanization process has been adjudged to be one of the major factors influencing spatial variation in land use and land cover change (LULC), land surface temperature (LST), land surface emissivity (LSE), increasing greenhouse gases emission, and climate change. This article uses a multispectral satellite remote sensing and survey-based approach to examine the nexus of LULC and LSE in the Ibadan city region, Nigeria. The spectral reflectance, the sun angle spectral radiance of the Landsat imageries (2000, 2010, 2018) was corrected and converted from digital number. The LULC, Normalized Difference Vegetation Index (NDVI), Normalized Difference Built-Up Index (NDBI), LSE and LST were obtained from the analysis of Landsat imageries. From the findings, temperature increase was identified as a peculiar environmental issue. Analysis of the Landsat imageries revealed that the NDVI value increased from 0.44 in 2000 to 0.47 in 2018. The NDBI values showed that built-up areas in the core of the urban areas have the highest NDBI values (0.023-0.602). The spatio-temporal trends of LST were related to the changes in LULC, and the built-up area had the highest LSE. The maximum LST (43°C) was observed in the year 2018 at the core area of the city where building density was highest. The study suggests an application of cool pavements, green development, and urban forest regeneration for sustainable development

Solid Waste Management in the Tourism Sector of Ghana. A Study of Selected Hotels in Ho the Regional Capital of Volta Region.

The rapid growth of the tourism sector throughout the World and change in life style has increased waste generation in hotels, which Ghana is no exception. Management of solid waste is an efficient method to increase resource efficiency thus material and energy recovery instead of landfill disposal. Various governments in Ghana have made several attempts as how waste generated in Ghana could be managed  yet waste management and disposal has become a topic for debate in Ghana due to accumulation of waste in open areas. Moreover, there are a number of strategies, technologies, procedures employed in different parts of the World about solid waste management.  To date little or no research has been conducted in this area in the tourism sector of Ghana. Thus, the present paper attempts to investigate how solid waste generated in hotels are processed and managed using selected hotels in Ho the capital of Volta Region.  Data was collected from 150 hotel staff employed in the various sections of the hotels. Results, from the study revealed that  waste such as bones, food leftovers and vegetables peels, rubber, paper, plastic and bottles were disposed in dustbins and  later on  collected by waste management company and deposited at landfill site. Sometimes paper, plastic and rubber were incinerated. Recycling and other methods of waste disposal were not implemented. The conclusion  drawn was   lack of  proper disposal of solid waste  at  landfill areas by waste companies in Ghana and burning of waste do not only creates conducive environment for pests like flies, rats and others but also pollutes the ecosystem and  health hazards. There is the need for constant training and educating of staff of hotels on solid waste management and the use of more advance technology. Keywords: Waste management, Tourism, Solid waste, landfill, Ecosystem, Recyclin

Level of gross margin among vegetable farmers in Iwo Zone of Osun State Agricultural Development Project

The study examined the level of gross margin in vegetable farmers’ production in Iwo zone of Osun State Agricultural Development Programme (ADP). Data for the study was collected through structured interview schedule with 150 vegetable farmers selected through multistage sampling technique. These data were subjected to descriptive statistics. The study found that the larger proportion (56%) of the respondents were between the ages of 46-50 years, with mean age of 46 years. About 62.7% and 37.3% of the respondents had no formal education and had over 13 years of farming experience respectively. The mean gross margin, total revenue and total cost of the vegetable farmers were ₦3,159.13, ₦33979.47 and ₦4918.67 respectively. This shows that the level of gross margin is low among the vegetable farmers. It was therefore recommended that improved vegetable production practices information should be provided to the respondents through the extension agents, to avail them the understanding of the use of modern technology, accessibility to subsidized equipment and agro-inputs by government partnered agro-input dealers. This will help to minimize the labour cost incurred by the vegetable farmer and invariably, improve their gross margin from vegetable production.Keywords: Vegetable, Gross Margin, Total Revenue, Total Cos

Housing Tenure Choice and Housing Affordability in Nigeria: A Comparative Analysis of Owners and Renters of Organized Private Sector Housing

Housing tenure choice is one key decision that a household must make. This decision has been established to have direct implications for household housing affordability. This research assessed and compared the housing affordability of owners and renters of organized Private Sector Housing delivery in Nigeria. Data were collected from eleven (11) states and the Federal Capital Territory across the six (6) geo-political zones of Nigeria. A cross-sectional survey design was adopted with multi-stage sampling technique employed to select estates residents for interview. Structured questionnaire were administered on 10% (1,950) heads of households randomly selected from all the occupied houses. The study revealed that 48% of the residents were owners and 52% renters. It was discovered that more owners than renters are under severe housing affordability stress/burden. While 29% of owners enjoy “normal housing affordability” (housing expenditure of 1% - 30%), 41% of renters enjoyed such. Also, while 36% of owners enjoyed “tolerable housing affordability” (30.1% - 50% housing expenditure), 41% of the renters fall within that range. Furthermore, while 35% of owners are theoretically under severe housing affordability stress/burden (with >50% housing expenditure), only 18% of the renters are. The study confirmed that renters enjoyed better housing affordability than the owners. Major policy implications include the need for housing policy and delivery in Nigeria to recognize and facilitate rental housing while steps should be taken to relieve the burden of home ownership by working on mortgage penetration, cost of building materials and other incidental expenses of ownership so as to enhance housing affordability of Nigerians