Browsing by Author "Mayer, Frederick"
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Item Open Access Attracting Traditional Investors to Impact Investing(2013-04-18) Matheny, WendyResearch Question: 5 Stone Green Capital (“5 Stone”) seeks to fund green real estate investments by attracting capital from both traditional and “impact” investors. The impact investing space is relatively new to capital markets, and traditional investors are skeptical of the risks on investments accounting for anything other than financial returns. 5 Stone wishes to explore how to draw traditional investors into the impact investing space. Given its emphasis on generating optimal sustainability in energy, housing, food and employment markets, while generating consistent economic returns, and the constraints of an evolving impact investment market, how can 5 Stone draw traditional investors into the impact investing space? Recommendation: With the underlying goal of bringing traditional investors into the impact space to fund its green real estate investments, 5 Stone should pursue Generation Investment Management’s model of “sustainable capitalism” that incorporates profitability and sustainability into its long term strategic planning. 5 Stone’s target investors from traditional financial markets will accept few tradeoffs for maximum financial returns. While both the patient and sustainable capital models provide examples of profitability and long term visions for impact, only Generation seeks above-market-rate risk returns on investment.Item Open Access Burnout by Drugs: Emergency Department Nurses and the Opioid Epidemic(2018-12-10) McKim, CarrieItem Open Access Calculating the Risk for Food Crises in the Middle East: The Role of Social Network Analysis(2014-04-18) Brown, DaniceNet food-importing countries face unique challenges in food security. Traditional value chain analysis and food security assessments do not consider a country’s international trade network when calculating the food security levels of a country. This project focuses on wheat trade in the Middle East and North Africa (MENA) region. Wheat is highly consumed in the region, which is overall a net importer of the commodity. In addition, wheat has a cultural importance in the region—riots and civil unrest have often been tied to the rise in bread prices, and the existence of various subsidies of wheat and wheat products demonstrate the importance of making this commodity available to the population. However, the region as a whole is a net-importer of this commodity. Because of this, traditional mechanisms of food security assessments, which generally focus on domestic production, do not give a full picture of a country’s food security risks. Instead, assessments of the security of the wheat supply in most MENA countries should consider international trade indicators. Methodology This research uses social network analysis methodology, and analyzes the global trade network in terms of the following indicators: number of links, network density, average clustering coefficient, and average betweenness centrality. Then, the top ranking countries are reported in two node-level indicators, eigenvector centrality, which detects major players overall, and authority centrality, which detects the most well connected importing countries. Finally, the analysis looks at 4 major export bans that affected the MENA region between 2005 and 2010, and notes several reactionary steps that MENA countries used to maintain supplies of wheat in the face of these bans. Reasons for failure to maintain supplies were also noted. Policy Question This research attempts to add to the understanding of the global wheat trade network from 1990-2012, with a particular focus on the MENA region. As several export bans between 2005 and 2010 provide exogenous shocks to the markets, another section of the analysis addresses MENA countries’ reactions to these sudden barriers to trade. As a preliminary look at the wheat trade network over time, this research addresses the question: How has the international trade network of grain in the MENA region reacted to economic shocks since 1990? How can analyzing the evolution of this trade network inform food security measures for the region? Results Overall, the network is becoming more dense but less divided into clusters as countries are diversifying their trade and instigating partnerships outside of their previous clusters. On an individual country level, centrality measures can demonstrate when a country has succeeded or failed in forming new partnerships or increasing trade with important partners, often to overcome a barrier to trade such as an export ban. Finally, countries take different steps to overcome trade bans—forming new partnerships, increasing trade with existing partners, or increasing production. It seems that countries with some political clout or purchasing power from their size are able to accomplish this. Conclusion Social network analysis indicators are accurately descriptive in the actions of a country takes overcome a ban. Depending on changes in the rest of the network, if a country increases its partnerships or increases quantity traded from important partners in order to overcome a ban, this action increases the country’s centrality scores. While this analysis did not test a theory of correlation between a certain indicator and ability to maintain supplies, data from this project could be used to do so. It is recommended that further research explore what indicators would be useful to predict risk, and what indicators (if any), could be useful to predict resilience in the face of that risk.Item Open Access Constrained Coordination: How Strategic Interests and Bureaucracy Shape Donor Coordination(2019) Olayinka, Adebola I.Scholars and practitioners recognize the importance of coordination in mitigating the costs of aid proliferation and improving the effectiveness of foreign aid. However, low levels of donor coordination persist. In this dissertation, I address this donor coordination puzzle. I offer a novel theory of coordination called Constrained Coordination, in which I posit that two key factors that play a crucial role in shaping coordination. First, I argue that donors strategic interests are a damper on coordination – the greater the strategic political, economic, and security interests of a donor government in a recipient country, the less coordination its aid agency will engage in. Second, I argue that aid agency autonomy is positively associated with coordination – the greater the level of autonomy – or freedom – that an aid agency has from its home government, the more that aid agency will coordinate. In order to test my Constrained Coordination theory, the dissertation uses mix-methods, and includes a quantitative analysis of hundreds of donor agencies coordination. I also leverage over one hundred extensive interviews with key stakeholders to present two qualitative case studies of donor coordination in Nigeria and Zambia. Finally, I use qualitative evidence to look at the coordination of South-South donors, a group of donors growing in importance. I find that a donor government’s strategic interests have a significant impact on whether its aid agency will coordinate within recipient countries. Similarly, when a recipient is strategic to a large number of countries, donors will not be well coordinated. Second, I find that aid agencies with greater levels of autonomy from their home governments coordinate more. And finally, I find that these effects amplify one another – a high autonomy donor working in a low priority country coordinates more than any other combination of strategic interests and autonomy.
Item Open Access Depolarizing Environmental Policy: Identities and Public Opinion on the Environment(2019) Pechar, Emily KathleenHigh levels of partisan polarization on environmental policies, and on climate change in particular, have led to policy gridlock in the United States. While most Americans rely on their partisan identities to guide their policy preferences on highly polarizing issues, other non-partisan identities may also be relevant in informing environmental policy attitudes. This dissertation investigates the role that partisan and non-partisan identities play in driving attitudes on climate change and environmental policies broadly. In a first paper, I use a survey experiment to test how identity salience influences the effectiveness of a persuasive message about climate change. I find that priming a non-partisan (parental) identity decreases partisan polarization on climate change policy support, while priming a partisan identity increases polarization. In a second paper, I use focus groups, participant observation, and interviews to identify four strategies that individuals use to reconcile conflicting identities and form attitudes on climate change. In a third paper, I use focus groups with rural voters in North Carolina to understand how rural identities inform unique environmental policy preferences. Each of these studies contributes to the broader understanding of the role that non-partisan identities play in driving environmental attitudes and offers a potential way to build more bipartisan agreement in this policy area.
Item Open Access Reducing Risks in Public Private Partnerships(2014-04-30) Maktabi, TayebaEXECUTIVE SUMMARY PUBLIC PRIVATE PARTNERSHIP Public-private partnerships (PPPs) can be a powerful tool for finding solutions to complex social challenges. PPP can essentially be defined as the partnership between public institutions and private sector corporations. Typically, these partnerships are seen as a way to share risks and collaborate expertise, best practices, and resources to deliver services in a more cost-effective and efficient manner by getting more “value for money”. PPPs can also provide new resources, build capacity, and improve existing systems to help governments meet development goals. However, along with the benefits that PPPs can bring are inherent risks that can lead to derailment of program goals and even eroding larger developmental achievements of countries. While research on PPPs is still scarce, a few studies by World Bank, OECD, and others have illuminated some important aspects of PPPs to help future partnerships be more effective at reducing risks. Risks of PPP Over the years, PPPs have begun to expand its reach across various domains and regions. Today, PPPs can vary in structure, form, scope, and location. However, despite these differences, the risks faced by PPPs share some common themes. Risks such as poor governance, misaligned priorities, underrepresentation of public sector in decision-making, poor communication streams, lack of coordination and cooperation between partners, insufficient and unsustainable financing, and lack of support from leaders can lead to derailment of PPPs. Reducing Risks of PPP While these risks exist in many partnerships, governments and PPP leaders can institute various measures designed to minimize them as much as possible. Table 1 (page 12) highlights some of the key elements for reducing risks in PPPs. Based on literature research of best practices and case studies, Table 1 provides guidance for minimizing risks from the initial stages of PPPs to the end. For example, when partnerships are established it is important to make sure partners share similar goals and that they bring value to the project. Additionally, during the implementation phase, PPPs can reduce risks by instituting monitoring and evaluation mechanisms. Finally, risks can be reduced at the end of PPPs by ensuring sustainability through training, knowledge transfer, and creating a clear exit strategy for partners. CASE STUDIES: Four case studies on PPPs from Bangladesh, Nepal, Tanzania, and Uganda were analyzed based on elements from Table 1 to determine whether these PPPs were successful at reducing risks and to identify which elements were crucial to risk reduction. Each case study was analyzed based on the roles of stakeholders, the funding models, the risks faced by the partnership, and what factors in the partnership reduced these risks. LESSONS LEARNED Analyses from the four case studies have highlighted some important lessons for reducing risks in future PPPs. It appears that while all the elements in Table 1 are important for reducing risks in PPPs, there were a number that were largely salient in the case studies analyzed here. Particularly noteworthy was the role and involvement of the government in PPPs, the importance of robust communication streams, the necessity of creating a sense of ownership and trust between partners in the project, and ensuring sustainable funding systems to reduce risks and guarantee success of PPP programs. For example, in some of the cases, having a strong government presence in the program reassured other partners that they could rely on the government to provide resources and funding for program implementation. Sufficient policies, regulations, frameworks, fiscal and non-fiscal support, communication, and government engagement were necessary to hold partners accountable and minimize risks. Furthermore, in all of the cases, robust communication channels were vital for risk reduction. In both the Bangladesh and Nepal cases there were strong mechanisms for open communication channels, which helped reduce risks by keeping partners engaged and invested in the PPP project. In addition, insufficient funding also created a great risk for PPP programs. For example, in Uganda the lack of sufficient funding from the government limited the scope and capacity of the program. Therefore, governments and donors need to ensure sufficient funding and resources are available to implement the program successfully. CONCLUSION PPPs vary greatly across scope, structure, implementation, and goals, which makes it rather difficult to predict future risks or work to eliminate risks in PPPs altogether. However, research has shown that PPP leaders can take a number of preventive steps to minimizing risks before they create challenges in the future. Some of these steps have been highlighted in Table 1 of this report. Furthermore, the examination of case studies using Table 1 as a guide surfaced four common elements that were key to reducing risks in PPPs: the role and involvement of the government, robust communication streams, building a sense of ownership and trust between partners in the project, and sustainable funding systems appeared critical to minimizing risks in each case. Therefore, partnerships will have a greater chance of sustainability and program success if they focus on improving these areas of the PPP.Item Open Access Regulation and Economic Globalization: Prospects and Limits of Private Governance(Business and Politics, 2010-10) Mayer, Frederick; Gereffi, GaryItem Open Access Smallholder Global Value Chain Participation: The Role of Aggregation(2014) Csaky, EvaSmallholder farmers have been at the center of the development discourse not only because they represent a significant portion of the world's extreme poor but because of their potential role in food security, climate change and gender equality. Smallholders account for 70% of global food production but most of them in the developing world operate in the informal markets. Market formalization is accelerating even in the least developed countries, however, and formal market channels are gradually displacing informal ones. Global value chain based formal markets may also offer opportunities for smallholders to tap into fast growing international markets for high value agricultural products.
One of the key challenges policymakers, the development community and agribusinesses face, however, is smallholders' limited formal organization ("producer organizations") that aggregate their production and demand for goods and services in order to enable more effective market participation ("aggregation"). Only 5-10% of farmers globally are estimated to participate in formal producer organizations. This is despite the fact that such organizations have been supported by both policymakers and the development field as a way of tackling poverty and addressing market failures.
The shift towards food production being organized based on global value chains and production networks and the fast dissemination of supermarkets and other modern food retail outlets around the world is creating increased need for smallholders to partake in some form of aggregation mechanism in order to become contributors to the global food system.
Agribusinesses that buy agricultural products have therefore also been encouraging producer organizations as a way to improve their ability to source from smallholders. Nonetheless, of the producer organizations that do exist in emerging economies, only a negligible portion have been able to achieve stable access to the growing global market of high value agricultural products.
The objective of this dissertation is to contribute to the understanding of this paradox and to identify factors that may improve the likelihood and effectiveness of aggregation. The structure of this work is as follows: first the research problem and the gap in the literature (Chapter 1) will be defined, followed by the review of existing scholarship on smallholder agricultural producers, the globalization of agribusiness and global value chains as well as the literature on the aggregation of smallholder production, producer organizations and their access to global and modern value chains (Chapter 2).
Next a conceptual framework will be proposed based on which a model for smallholder global-value-chain-relevant aggregation (Chapter 3) will be developed that takes into account the producer organization types, the services offered by the producer organizations, producer organizations' access to financing and the requirements of global value chains.
The model will be tested first using the population of Hungarian producer organizations, and then a sample of Central American and Peruvian producer organizations (Chapter 4), utilizing the following hypotheses:
1. "Collective identity narratives", manifesting themselves in Collective Identity Activities, play an important role in facilitating the growth and competitiveness of POs.
2. Services, including access to financing for farmers, provided by POs play an important role in facilitating scaling.
3. Cooperatives are at a disadvantage compared to other producer organization (PO) forms in achieving the conditions of global value chain access.
The empirical analysis has five main findings. First, because trust is so important in enabling farmer participation in collectives, shared narratives that establish collective identity may play a role in ensuring not only farmer loyalty but also may help improve producer organizations' performance, particularly as organizations grow. Second, organizations that offer more services to farmers are more likely to scale and hence achieve global value chain access. However, this study found that considerable variation among services, some having much more significant relationship to the ability to scale than others. Third, cooperatives, the producer organization form most often supported by policymakers and the development field, on average were found less effective than other forms of producer organizations in their ability to connect farmers to global value chains. Having said that, it is important to highlight that the study also identified several cooperatives and some common patterns among them that outperformed both their cooperative and non-cooperative peers. Fourth, while this study adds to the evidence that smaller farmers within the smallholder group are at a disadvantage when it comes to PO participation and may, therefore, require differentiated support when it comes to interventions, it also identified several POs that work with some of the smallest farmers and still outperform their peers. Fifth, the study found that POs' access to financing is important for modern market access, in addition to meeting quantity and quality requirements.
The policy implications of these findings are considerable and recommendations for interventions conclude the paper (Chapter 6) after the discussion of this study's limitations (Chapter 5). The key policy findings include that cooperatives are not the panacea for development and policymakers should also consider other forms of producer organizations for support. Importantly, policymakers should rather consider linking their support to certain aggregator characteristics and activities, including services offered since some services appear to have stronger relationships than others with POs' ability to succeed. Among these services access to finance for farmers as well as research and development and innovation play crucial role and therefore deserve heightened attention from policymakers while access to finance at the PO level has also been found to be important. In addition, PO activities that help build collective identity are associated with POs' productivity and ability to scale.
In terms of the arguable trade-off between sustainability and smallholder inclusion, a finding of the present work is that smallholders have the potential to achieve significantly higher productivity than their larger counterparts and their POs can successfully access modern markets as long as they are provided with the necessary support related to sustainable intensification of their production and access to capital for making the necessary investments.
Item Open Access The Politics of the Regulatory Policymaking Process: Three Essays on Governments, Markets, and Effective Regulatory Governance(2018) DeMenno, Mercy BermanThis dissertation comprises three articles:
“Rethinking Stakeholder Participation in Regulatory Governance: A Historical-Institutional Analysis and Proposed Theoretical Model” (Chapter 2/Article 1): The regulatory policymaking process provides myriad opportunities for stakeholder participation. While policymakers have invested considerable resources in engaging stakeholders in regulatory policymaking, comparatively few resources have been invested in evaluating the effectiveness of participation processes. Similarly, although there is a burgeoning literature on stakeholder participation in regulatory policymaking, the topic of participatory effectiveness is under-explored. A more holistic understanding of the causal chain connecting participatory institutional design, stakeholder participation, and regulatory policy outcomes would contribute to the theory and practice of regulatory governance by illuminating the conditions under which interactions among regulators and external stakeholders promote or hinder effective regulatory policy. Based on a historical-institutional analysis of participatory institutional design in the United States over the last century and a review of the extant interdisciplinary theoretical and empirical literature, this article proposes a novel causal process model of participatory effectiveness. This model both formalizes a theoretical approach to defining participatory effectiveness and informs empirical approaches to measuring the effectiveness of participation in regulatory policymaking.
“Technocracy, Democracy, and Public Policy: An Evaluation of Public Participation in Retrospective Regulatory Review” (Chapter 3/Article 2): In 2011 and 2012, President Obama issued a series of Executive Orders (EOs) mandating that U.S. federal agencies engage in “retrospective review” of their existing regulations. While prospective assessment of regulations is a well-established feature of the U.S. regulatory policy cycle, EOs 13563, 13579, and 13610 recognize that retrospective assessment is not yet institutionalized. This article presents the first systematic assessment of participation in U.S. retrospective regulatory review. Drawing on content analysis of an original dataset of government documents and public input, this article analyzes participatory institutional design, the level and composition of resulting participation, and the effectiveness of participation processes. The results suggest that participation processes were effective with respect to the purposes of participation identified in the EOs and extant literature: policy learning and process legitimacy. These findings offer preliminary evidence that under certain circumstances regulatory agencies may use participation to enhance technocratic expertise and promote democratic accountability.
“Banking on Burden Reduction: How the Global Financial Crisis Shaped Stakeholder Participation in Banking Regulation” (Chapter 4/Article 3): The Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) of 1996 requires the Federal Financial Institutions Examination Council (FFIEC)—an interagency council composed of U.S. banking regulators—to conduct decennial retrospective reviews of existing banking regulations, with an emphasis on reducing regulatory burden. EGRPRA reviews provide a lens to study government-market interactions before and after the global financial crisis (GFC) of 2007-2009. Through comparative case studies of EGRPRA reviews in 2007 and 2017, this article documents how banking regulatory review processes and stakeholder participation in banking regulation have changed over the last ten years. Using within-case process tracing and content analysis of an original dataset of government documents and public input, this article analyzes the extent to which changes in review processes, participation, and outcomes can be attributed to the policy shock of the GFC and/or shifting political, regulatory, and/or market contexts. The results suggest government-market interactions have changed considerably since the GFC, and that regulatory politics explain many of these changes. While retrospective review and stakeholder participation therein may enable more effective and legitimate regulations and rulemaking processes, much work remains to realize these potential benefits in banking regulation.