MEASURING MARKET INTEGRATION IN THE GLOBAL ECONOMY

The increased level of market integration in the processed food industry through trade, foreign direct investment, and the expanded use of intellectual property rights are an observed phenomenon of the past three decades. Measurement of market integration is problematic, and the role of FDI in market integration has not been adequately taken into consideration. This study measures the growth in the market shares of multinationals in selected countries and industries to indicate the degree of market integration. We also employ a market share convergence type model to estimate whether the market shares of the multinationals and domestically owned firms in key markets have converged to some steady state during the years 1991 to 2003.Processed food industry, global integration, market shares, Argentina, Brazil, U.S., International Relations/Trade,

U.S. FOREIGN DIRECT INVESTMENT AND TRADE: SUBSTITUTES OR COMPLEMENTS? THE CASE OF THE FOOD PROCESSING INDUSTRY

The role of foreign direct investment as a complement or substitute to foreign trade continues to be debated in regard to the food processing industry. This study extends earlier work to demonstrate that FDI and trade depend on the stage and the similarities of the economic development of the host countries, as macroeconomic factors--such as exchange rate fluctuations and income growth-- act differently in developing vs. developed countries, and exporting vs. importing countries.Agribusiness, International Development, International Relations/Trade,

Reconnaissance mapping from aerial photographs

The author has identified the following significant results. Engineering soil and geology maps were successfully made from Pennsylvania aerial photographs taken at scales from 1:4,800 to 1:60,000. The procedure involved a detailed study of a stereoscopic model while evaluating landform, drainage, erosion, color or gray tones, tone and texture patterns, vegetation, and cultural or land use patterns

Exchange Rates and U.S. Foreign Direct Investment in the Global Processed Food Industry

This paper focuses on estimating the effects of the real FDI-weighted exchange rate on real U.S. foreign direct investment (FDI) in the global processed food industry. We use a straightforward production possibility framework as our theoretical basis to demonstrate the shift of production between countries on the basis of exchange rate fluctuations. The log-log regression model, derived from the theoretical model, gives statistically robust results to show that for the years 1983 to 2002, the exchange rate fluctuations, the level of fixed capital in the U.S. food industry, and the cost of materials in both the United States and abroad were major determinants of the stock of U.S. FDI in the global processed food industry. As the dollar appreciated, U.S. FDI increased. An overall conclusion is that countries with an undervalued exchange rate will experience increased FDI. Countries with overvalued exchange rates incur costs from lost export opportunities for domestic firms as well as discourage FDI.U.S. foreign direct investment (FDI), global processed food industry, FDI-weighted exchange rates, International Relations/Trade,

Determinants of Foreign Direct Investment in the Food-Processing Industry: A Comparative Analysis of Developed and Developing Economies

This paper analyzes the determinants of foreign direct investments by the U.S. food-processing industry in developed and developing countries. We find that market size, per-capita income, and trade openness significantly affect U.S. food-processing firmsÂ’' decisions to invest abroad, but their influence differs between developed and developing countries. Economic development is positively associated with FDI in developing countries but negatively associated in developed countries. Market size is a major determinant of FDI only in developed economies. Trade openness seems to be important for sales by U.S. foreign affiliates in both developed and developing countries and for exports to developed country markets.International Relations/Trade,

THE UNITED STATES IN THE GLOBAL SOYBEAN MARKET: WHERE DO WE GO FROM HERE?

This study applies the concept of a dynamic dominant-firm oligopoly model to the international soybean market. It has been suggested that the international soybean market should be viewed as an oligopoly among exporting nations. Consistent with Gaskins (1971) dynamic dominant firm model, our results indicate that the current U.S. loan deficiency-payment prices and their predecessors created an environment in which smaller (fringe) exporters could prosper and expand. The reduction of U.S. market share is thus a logical outcome of an "optimally managed decline" a la Gaskins. The study finds U.S. market share to decline at a reducing rate and predicts U.S. market share eventually to stabilize, given the expanding international market for soybeans and products. Recognition of the structure of international soybean market has policy implications for the 2002 farm program as the classic dominant firm model suggests.Crop Production/Industries, International Relations/Trade,

U.S. Foreign Direct Investment in the Western Hemisphere Processed Food Industry

Foreign direct investment (FDI) has become the leading means for U.S. processed food companies to participate in international markets. Affiliates of U.S.-owned food processing companies had $30 billion in sales throughout the Western Hemisphere in 1995, nearly 4 times the level of processed food exports. This report puts U.S. foreign direct investment and trade in processed foods to the region into global perspective, and finds evidence that, in the aggregate for the 1990's, trade and FDI are complementary--not competitive--means of accessing international food markets. Incomes have grown sufficiently in most countries to support growth in affiliate sales and U.S. exports, indicating a strong demand for a wide variety of processed foods.U.S. food processing industry, Western Hemisphere, foreign trade, foreign direct investment, Agribusiness, International Relations/Trade,

Investigations of an urban area and its locale using ERTS-1 data supported by U-photography

An urban area in central Pennsylvania and the surrounding locality were investigated separately at first by photointerpretation of ERTS-1 imagery and by computer processing of MSS tapes. Next the photointerpretation and processing were coordinated. The results of the cooperative effort of photointerpreters and computer processing analysts were much improved over independent efforts. It was found that single frames of U-2 photography could be projected onto printer output maps with little recognizable distortion in areas 10 to 25 cm square. In this way targets could be identified for use as training areas for computer processed signature identification. In addition, at any stage of category mapping, the level of success in correct classification could be assessed by this method. The results of the classification of the study area are discussed

NORTH AMERICAN INTEGRATION IN AGRICULTURE: A SURVEY PAPER

This paper surveys the economic literature about North American integration in the agri-food sector. The purpose of this survey is two-fold: it summarizes the lessons learned, and it identifies areas where further research could provide valuable input into policy discussions. As the integration of North American agriculture progresses, the range of agri-food policies with strictly domestic effects becomes increasingly narrow. Thus, policymakers in North America need to consider the effects that their decisions will have on other NAFTA countries, as well as the impact that decisions by other NAFTA governments will have at home. The paper is organized as follows. Section 2 identifies the major factors contributing to integration and comments on their relative importance. Section 3 summarizes research into the indicators of integration. These studies focus on price co-movements and trade flow data. Section 4 outlines the state of current knowledge regarding foreign direct investment in the agri-food sector, while Section 5 assesses the impact of integration on the structure and performance of the sector. Section 6 discusses opportunities for further integration in the sector, and Section 7 concludes the paper. Throughout the paper, gaps in the knowledge base are highlighted, along with suggested areas for further research.Industrial Organization,

Dried fruits, nuts, and cancer risk and survival: a review of the evidence and future research directions

Dried fruits and nuts contain high amounts of nutrients and phytochemicals—all of which may have anticarcinogenic, anti-inflammatory, and antioxidant properties. This narrative review summarizes the evidence for dried fruits and nuts and cancer incidence, mortality, and survival and their potential anticancer properties. The evidence for dried fruits in cancer outcomes is limited, but existing studies have suggested an inverse relationship between total dried fruit consumption and cancer risk. A higher consumption of nuts has been associated with a reduced risk of several site-specific cancers in prospective cohort studies, including cancers of the colon, lung, and pancreas, with relative risks per 5 g/day increment equal to 0.75 (95% CI 0.60, 0.94), 0.97 (95% CI 0.95, 0.98), and 0.94 (95% CI 0.89, 0.99), respectively. A daily intake of total nuts of 28 g/day has also been associated with a 21% reduction in the rate of cancer mortality. There is also some evidence that frequent nut consumption is associated with improved survival outcomes among patients with colorectal, breast, and prostate cancer; however, further studies are needed. Future research directions include the investigation of additional cancer types, including rare types of cancer. For cancer prognosis, additional studies with pre- and postdiagnosis dietary assessment are warranted