Local economic development — the changing public/private sector relationship

The paper examines changing approaches to local economic development in the period since 1974. Initially, it proposes an ‘orthodox’ model of local economic development policies which emphasised the provision of a better industrial fabric, and of financial assistance to small, inner city firms. It suggests three recent directions of change in emphasis from this orthodox model: help in the creation of new entrepreneurs; replacement of public sector by private sector action; local authority shareholding in local firms by use of Enterprise Boards. Each approach makes different assumptions about the public/private sector relationship, the last two involve a more explicitly ideological stance on this issue.     

Imperatives for attracting investment and technology in the Indian mining sector

In India, the mineral resource inventory and the production of a large number of important minerals have registered significant increases during the last few decades. Yet the country continues to be a net importer of many high value and scarce minerals and metals, like gold, diamond, and several base metals. Exploration and development of the resources of these minerals are technology- and capital-intensive. To bring technology and capital through foreign direct investment (FDI) into the Indian mineral sector, it is imperative to lay stress on: accurate resource estimation and categorization, as well as realistic projection of the true values; rationalization of legislative measures based on R&D studies and reorganization of the implementation machinery; conducive tax structure; notification of acts and rules applicable to offshore mineral resources; time-frames for granting licences and leases; encouragement to labor productivity by rationalizing labor laws; reforms in the monetary system to increase market competitiveness of Indian minerals; and judicial reforms. FDI in the Indian mineral sector is important to firm up the knowledge-base of mineral resources and their optimum exploitation.     

Fostering sustainable small-scale investments: lessons from experience and ideas for intervention and innovation

This article presents lessons from experience pertinent to implementing small-scale natural resource and related investment projects in developing countries. It outlines ideas for intervention and innovation to foster such investments. Particular emphasis is placed on private-sector participation in these investments. Following a brief presentation of the economic development and other arguments that support intervention and innovation in support of such small-scale natural resource investments, the article discusses many of the lessons learned from experience. These lessons reinforce those touched upon in the investment-specific discussions in the previous articles. The experience and associated lessons that are examined include experiences in both developing and developed countries and encompass not just lessons from natural resource investments, but also small-scale investments in other sectors. Financing and other innovations which facilitate meeting the challenges are drawn from relevant experience where barriers to investment have been surmounted. Options for programme and project interventions to increase market penetration of small-scale investments and achieve the associated development linkages and synergies are suggested. These suggestions are aimed especially at governments and bilateral and multilateral development finance and development assistance entities. It is those players who might support such interventions in collaboration with local financial institutions and other market players.     

SOME CONJUNCTIVE DESALTING STUDIES EN THE UNITED KINGDOM1

ABSTRACT .Operating rule procedures are developed for the optimal use of desalination in conjunction with surface water impoundments. Results obtained from the use of hill-climbing and dynamic programming methods are compared. Benefits to be obtained from the integrated use of desalination are demonstrated through a case study for the Barcelona area of Spain.     

风险投资:一种发现企业价值型的投资

风险投资已经被各国公认为中小企业尤其是高科技企业成长的"推进器"。为了深入理解风险投资的本质,从风险投资的行为和基本特征入手,通过对价值理论的回顾和企业价值表述方式的描述,揭示了风险投资作为发现价值型投资的本质,即通过发现投资对象的潜在价值并通过不断的增值服务使潜在的价值逐步显化,从而得到大多数投资者认可后实施股权转让获得丰厚回报的投资本质。     

FACTORS AFFECTING WATERWAY INVESTMENT DECISIONS1

ABSTRACT: There are many factors, other than economic efficiency, which must be considered in judging the merits of proposed investments in the inland navigation system. No satisfactory formula exists for deciding the net worth of public investments in water resources projects. Such a measure would not be accepted because these investments can serve conflicting goals. Political, rather than technical, judgments are required to resolve these goal conflicts.     

A CODED ALGORITHM FOR CAPACITY EXPANSION OF A WATER QUALITY MANAGEMENT SYSTEM1

ABSTRACT: This paper describes a mathematical model, an algorithm and a computer program that were specially developed to study the problem of a water quality management system undergoing a rapidly increasing environmental stress. The model output will determine the locations, sizes and the timing of construction of new treatment plants plus an overall treatment plant operating policy so that environmental standards are maintained at a minimum cost. The model, as formulated, is a 0-1 mixed integer programming problem which is solved by decomposing it into a capital budgeting problem (solved by Little's branch and bound algorithm) and an operational policy problem (solved by linear programming). The coded algorithm (in FORTRAN 10) has been tested with a semi-realistic example.     

基于产业投资视角的乡村旅游发展区域差异与形成机制

乡村旅游发展区域差异是乡村旅游投资空间不均衡的外在表现。新时代乡村振兴背景下乡村旅游投资不断增长,正加速影响乡村旅游发展空间格局与区域差异。在对比认识浙晋乡村旅游发展差异基础上,深入剖析了乡村旅游投资系统作用区域乡村旅游发展差异的深层机理。结果发现：（1）以乡村旅游精品线路为表征的浙晋乡村旅游发展水平和市场成熟度差异显著。（2）在乡村旅游投资“自然—产业—社会”环境中,产业基础环境对区域乡村旅游发展差异贡献最突出,是区域差异形成的核心要素,自然生态环境是基础,社会文化环境则发挥积极促进作用。（3）乡村旅游发展区域差异是不同乡村旅游投资环境引起区域乡村旅游投资收益预期和回报水平与乡村旅游发展路径及模式差异的结果。基于此,提出新时代乡村旅游投资IE-maps模式,以期促进区域乡村旅游协调发展和乡村振兴战略实施。     

试论中国环境投资的市场化运作

针对政府财政资金不能满足环境投资资金的短缺现象及环境投资的低效率，本文从国民经济的宏观层面分析中国环境投资市场化运作的必要性与可能性。结合现实中国环境投资市场化运作中政府、排污企业及金融企业在环境治理中存在的非市场行为。指出应规范政府、排污企业的环境投资行为，使其成为理性的环境投资主体，同时还应培育新的环境投资主体——环境投资公司。最终理源环境保护市场内部的关系。     

The idea of sustainable development

In this lecture, I demonstrate how very different macroeconomic history begins to look if Nature is included as a capital asset in production activities. The tentative conclusions I draw from the evidence are: (1) high population growth in the world’s poorest regions (South Asia and sub-Saharan Africa) has been an obstacle to the achievement of sustainable economic development there; relatedly, (2) when population growth is taken into account, the accumulation of manufactured capital, knowledge, and human capital (health and education) has not compensated for the degradation of natural capital in South Asia and sub-Saharan Africa and, in all probability, even in the UK and the US; (3) China is possibly an exception to (1) and (2). This article is based on the Keynote Lecture delivered at the international symposium on “Sustainability in an Unequal World”, held in Tokyo on November 24, 2006. The exposition relies on my book, Economics: A Very Short Introduction, Oxford University Press, Oxford, 2007. The author is the Frank Ramsey Professor of Economics at the University of Cambridge and a Fellow of St. John’s College, Cambridge.