How trade/GNP ratio decreases with country size

The ratio of a country's foreign trade (i.e., exports plus imports) to its GNP has a known tendency to decrease with country size. Previous studies have used a single year's data; but trade fluctuates greatly from year to year. This paper makes available a compilation of 1953–1972 export/GNP and import/GNP figures for 110 countries. The average import/GNP figure is found to correlate strongly with population size; the simple expression, Imports/GNP = 40 $\text{P}{}^{\mathrm{<mtext>?1</mtext><mtext>3</mtext>}}$, applies, within a factor of 2, in 94% of cases. No correlation with development level can be seen. The United States data throughout its history (1799–1972) follow the same inverse cube root pattern, but with a constant of 20 instead of 40. Correlation is much poorer in the case of export/GNP ration. Export and import figures are only marginally correlated to each other.     

Income Diversity,Technology Choice and Agricultural Research Policy in Sub‐Saharan Africa

This article makes an initial analysis of the implications of income diversification for technical change and agricultural research policy in Africa, leading to two insights. First, that the dilution effect of income diversification means that, as the proportion of non‐farm income increases, so must the expected gains from adopting a new agricultural technology. Second, that diversified producers will face disproportionately large transactions costs associated with information acquisition to inform technology choice decisions. Two hypotheses about how diversified producers are likely to react are then explored. Both point to the conclusion that income diversification among the poor is likely to constrain significantly the direct poverty impacts of agricultural research. The policy implications of these findings are then considered.     

The effects of pre-IPO corporate activity on newly-public firms' growth

We investigate firms' pre-IPO corporate activity. We find that firms involved in extraordinary – i.e., beyond momentum – amounts of acquisitions, JVs, and alliances in the year leading up to their IPOs (1) are more likely to engage in post-IPO corporate activity; and (2) enter into their first post-IPO transaction twice as fast as other firms. Our results indicate that signaling via extraordinary corporate activity can have a significant effect on entrepreneurial firms’ growth. The implications are discussed.     

The Women’s Empowerment in Livestock Index

Social Indicators Research - The empowerment of women in the livestock sector is fundamental to achieve gender equality. It also is instrumental for increased household productivity and improved...