Browsing by Subject "Open access"
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Item Open Access A good look at the Nook(Theological librarianship, 2011-01-01) Sheppard, BMItem Open Access E-journals and the seminary library context: a response to Jeffrey Garrett's"wood, flour, journal: how the electronic turn has affected the way journals are found, used and read"(Theological librarianship, 2009-01-01) Sheppard, BMItem Open Access Endogenous Growth, Trade, and the Environment(2011) Prasertsom, NujinThis dissertation presents two essays on endogenous growth and renewable resources.
The first essay explores the role of renewable resources in a tractable
model of endogenous growth driven by horizontal and vertical innovation in the closed economy.
The model is tractable in that it yields a complete, analytical characterization
of the path of utility and the associated welfare level. This property
is exploited to compare two cases of renewable resource management:
open access and full property rights. The first case involves a common
property problem in which agents ignore the long-term resource viability;
the second fully internalizes the dynamics of the resource stock.
Analysis shows that if the natural regeneration rate of the renewable
resource is too low, the tragedy of the commons occurs. If, instead,
the natural regeneration rate is sufficiently high, the steady-state
growth rate of the economy is identical across the two management
regimes. The reason is because there is no scale effect; that is,
the steady-state growth rate of the economy does not depend on the
labor or the resource endowment. However, the development path on
which the economy transits from the developing stage (no R\&D activity)
to the developed stage (positive R\&D activity) depends on the resource
management regime. In particular, a developing economy under full
property rights will cross its development threshold prior to one
under open access. This threshold depends on the size of the manufacturing
firms. When it becomes sufficiently large as a result of the decline
in the number of firms over time, there will be an incentive for the
remaining firms to conduct R\&D. Given the same number of manufacturing
firms, the firm size is larger under full property rights than under
open access due to higher nominal expenditure per capita. Therefore,
the development threshold will be reached sooner under full property
rights. In other words, the economy will start engaging in R\&D activities
sooner and more quickly accumulate knowledge, which is the source
of long-run growth. Moreover, switching from full property rights
to open access is welfare reducing due to two effects. The first is
through the price of the harvest good. Although the economy initially
enjoys a lower price of harvest good, the price gradually increases
as the resource becomes scarcer. Secondly, the competitive household
instantaneously loses the resource income and thus spends less on
manufacturing goods. This decreases the incentive for manufacturing
firms to conduct R\&D and results in a temporary deceleration of the
growth rate of TFP relative to the baseline case of full property
rights. The economy therefore experiences a cumulative loss of TFP
relative to the baseline, which is the novel feature of our model
of endogenous innovation. This mechanism has interesting and wide-ranging
implications for the role of resources in development and growth
The second essay extends the model of endogenous growth and renewable
resources into the open economy framework. The paper examines the effect of trade liberalization on resource-rich
countries, based on a two-country model in which the difference in
endowment of a renewable resource leads to asymmetric trade. In this
model, the resource-rich economy trades its harvest good and final
good for the final good from the resource-poor economy. Furthermore,
the renewable resource is considered to be under open access, where
there is no clear ownership over the resource, leading to overexploitation.
Long-term productivity, in this case, stems from endogenously-determined
knowledge accumulation. Under these circumstances, analysis shows
that the resource-rich country will lose from trade due to two effects.
The first effect is the instantaneous loss of income. Higher demand
for the harvest good, from the combined domestic and international
demand, diverts labor away from the production of technological goods
to the harvest sector, where rent is zero. The second effect is a
scarcity effect, which becomes more severe when trade results in a
greater demand for the harvest good. Overexploitation of the renewable
resource today leads to falling resource stock in the future, which
is then reflected in the higher price of harvest good, other things
being constant. Since the harvest good is an essential input to produce
the final good, given the same amount of the other inputs, the amount
of final good produced will also fall in the long run.
Item Open Access Resources for the study of the classical world in the New Testament era(Theological librarianship, 2012-01-01) Sheppard, BMItem Open Access The art of the bibliographic essay(Theological librarianship, 2008-01-01) Sheppard, BMItem Open Access Three Essays on Analyses of Marine Resources Management with Micro-data(2009) Huang, LingChapter 1: Although there are widely accepted theoretical explanations for overexploitation of common-pool resources, empirically we have limited information about the micro-level mechanisms that cause individually efficient exploitation to result in macro inefficiency. This paper conducts the first empirical investigation of common-pool resource users' dynamic and strategic behavior at the micro level. With an application to the North Carolina shrimp fishery, we examine fishermen's strategies in a fully dynamic game that accounts for latent resource dynamics and other players' actions. Combining a simulation-based Conditional Choice Probability estimator and a Pseudo Maximum Likelihood estimator, we recover the profit structure of the fishery from fishermen's repeated choices. Using the estimated structural parameters, we compare the fishermen's actual exploitation path to the socially optimal one under a time-specific limited entry system with transferrable permits, and then quantify the dynamic efficiency costs of common-pool resource use. We find that individual fishermen respond to other users by exerting a higher level of exploitation effort than what is socially optimal. Based on our counterfactual experiments, we estimate the efficiency costs of this behavior to be 17.39\% of the annual revenues from the fishery, which translates into 31.4\% of the rent without deducting the cost of capital.
Chapter 2: Although hypoxia is a threat to coastal ecosystems, policy makers have limited information about the potential economic impacts on fisheries. Studies using spatially and temporally aggregated data generally fail to detect statistically significant fishery effects of hypoxia. Limited recent work using disaggregated fishing data (microdata) reports modest effects of hypoxia on catches of recreationally harvested species. These prior studies have not accounted for important spatial and temporal aspects of the system, however. For example, the effects of hypoxia on catches may not materialize instantaneously but instead may involve a lagged process with catches reflecting cumulative past exposure to environmental conditions. This paper develops a differenced bioeconomic model to account for the lagged effects of hypoxia on the North Carolina brown shrimp fishery. It integrates high-resolution oxygen monitoring data with fishery-dependent microdata from North Carolina's trip ticket program to investigate the detailed spatial and temporal relationships of hypoxia to commercial fishery harvest. The main finding is that hypoxia potentially resulted in a 12.9\% annual decrease in brown shrimp harvest from 1999-2005. The paper also develops two alternative models---a non-differenced model and a polynomial distributed lag model---and results are consistent with the main model.
Chapter 3: The emergence of ecosystem-based management suggests that traditional fisheries
management and protection of environmental quality are increasingly interrelated. Fishery managers, however, have limited control over most sources of marine and estuarine pollution and at best can only adapt to environmental conditions. We develop a bioeconomic model of optimal harvest of an annual species that is subject to an environmental disturbance. We parameterize the model to analyze the effect of hypoxia (low dissolved oxygen) on the optimal harvest path of brown shrimp, a commercially important species that is fished in hypoxic waters in the Gulf of Mexico and in estuaries in the southeastern United States. We find that hypoxia alters the qualitative pattern of optimal harvest and shifts the season opening earlier in the year; more severe hypoxia leads to even earlier season openings. However, the quantitative effects of adapting fishery management to hypoxia in terms of fishery rents are small. This suggests that it is critical for other regulatory agencies to control estuarine pollution, and fishery managers need to generate value from the fishery resources through other means such as rationalization.