Producing Higher Value Wool through a Transition from Romney to Merino Crossbred: Constraining Sheep Feed Demand

A strategy to increase wool income for coarse wool (fibre diameter > 30 µm) producers through a transition to higher value medium wool (fibre diameter between 25 and 29 µm) was identified, with previous analyses allowing sheep feed demand increases to impractical levels during the transition period. This study modelled a whole flock transition from Romney breed to a ¾Merino¼Romney flock through crossbreeding with Merino sires, with sheep feed demand constrained between 55% and 65% of total grown feed. Transition was complete after 12 years, and the final ¾M¼R flock had higher COS (cash operating surplus; NZD 516/ha) than the base Romney flock (NZD 390/ha). Net present value analyses showed the transition always had an economic benefit (up to 13% higher) over the Romney flock. In a sensitivity analysis with sheep and wool sale prices changed by ± 10%, higher sheep sale prices reduced the economic benefit of the transition (NPV up to 11% higher) over the Romney flock, as sheep sales comprised a higher proportion of income for the Romney flock, and higher wool sale prices increased the benefit (NPV up to 15% higher) of the transition to ¾M¼R over the Romney flock. This study demonstrated a whole flock transition from Romney to ¾M¼R breed was profitable and achievable without large variation in sheep feed demand, although the scale of benefit compared to maintaining a Romney flock was determined by changes in sheep and wool sale prices.

The Impact of Hogget and Mature Flock Reproductive Success on Sheep Farm Productivity

Breeding hoggets (ewe lambs aged four to 16 months) at 8 to 9 months of age has a number of potential benefits, including increased lamb production and profitability. However, the majority of hoggets in New Zealand are not bred due to producer concerns regarding their variable reproductive success and increased feed demand. Simulation modelling was used to quantify effects of hogget breeding on sheep numbers, lamb production, sheep feed demand, and sheep enterprise cash operating surplus (COS) compared with a flock not breeding hoggets. Hogget weaning rate (HWR) was modelled at 0%, 60%, 80%, and 100% and combined with mature ewe flock weaning rates (FWR) of 132% and 150%, while maintaining total annual sheep feed demand. For each FWR, increased HWR reduced total sheep numbers, increased the proportion of sheep feed demand for lamb production, increased total numbers of lambs weaned, and increased COS. Therefore, achieving even a relatively low HWR of 60% can improve sheep enterprise profitability for a given FWR. However, COS was lower with FWR = 132% and HWR = 100% than with FWR = 150% and HWR = 0%. The results indicate farmers who do not currently breed their hoggets may wish to improve their FWR before considering HWRs.

Port Revenue Performance and Economic Growth: The Nigerian Ports Authority Experience, 2010-2019

The Study examined Port Revenue Performance and Economic Growth: The Nigerian Ports Authority Experience, 2010 to 2019. The objective of this study is to examine the effect of Port Revenue Performance on Nigeria's economic growth by critically evaluating the Nigerian Ports Authority Performance. The neoclassical growth theory was employed in the study and the Nigeria Ports Authority was chosen as its sample, covering the period from 2010 to 2019. The study used secondary time series data sourced from the Nigeria Ports Authority and the National Bureau of Statistics and used the ordinary least square regression and the Engle-Granger co-integration to test the variables at the 5% level of significance. The findings showed that total revenue to gross registered tonnage had positive and significant effect on economic growth while operating surplus to operating revenue showed a negative but significant effect and operating surplus to cargo throughput showed insignificant effect; there was no co-integration between the variables. The study concludes that Port revenue performance affects economic growth in the short-run only, and it recommends amongst others that policy makers should formulate appropriate and implementable regulatory framework that will address infrastructural deficits at the ports and stimulate increased utilization by major foreign vessel companies.

Прогнозирование основных параметров социально-экономического развития Республики Беларусь на основе динамической межотраслевой модели

The article provides the extended version of input-output balance and econometric model for predicting key macro-indicators of the Belarusian economy, which has been developed by the Economy Research Institute (the ERI) of the Ministry of Economy of the Republic of Belarus. Special attention has been given to such indicators as compensation of employees, gross operating surplus and gross mixed income, and other net taxes on production. All econometric models for predicting input-output coefficients, gross output by aggregates and the key elements of final use at the republican level have been overestimated and some models have been improved. Based on statistical information of the Republic of Belarus 2017–2018 predictive calculations have been performed, which have the acceptable forecast accuracy and indicate the possibility of using the proposed models in the development of forecasts and programs for the country’s socio-economic development.

Income Multipliers In Input – Output Analysis: Case Of Vietnam

The question arises as to which income group will benefit from GDP growth? This paper assesses the success or failure of Vietnam's economic policy through an input - output analysis, the research is estimaté the spread of final demand to type of income. It proposes some ideas for adjusting macroeconomic policies. In this article, value added is divided into income groups such as: Income of labor groups (labors in the state enterprises; labors in the non-state enterprises and in the FDI sector); operating surplus of state-owned enterprises; operating surplus of non-state sector and operating surplus of FDI sector.

THE FINANCIAL SITUATION AS A STIMULANT OF THE COMPETITIVE POSITION OF RURAL COMMUNES IN THE ŚWIĘTOKRZYSKIE VOIVODESHIP

Market conditions force local governments to take actions directed to the development and improvement of competitiveness. The efficiency of municipalities is determined by the efficiency and dynamics of development of the entire economy. The financial situation is a component of the competitiveness and responsibility of local authorities for the socio-economic development of the commune. The aim of the article is to analyse the spatial disproportions of the financial situation of rural communes in relation to their competitiveness using the TOPSIS synthetic measure. The analysis was conducted in a system of 69 rural communes of the Świętokrzyskie province. To assess the financial situation, the following were used: own income, local taxes and fees, income from PIT and CIT, operating surplus, transfer income and EU funds, property (investment) expenses, as well as interest and debt expenses. The conducted research showed that in the analysed period of 2007–2017 communes were characterized by stable diversification of financial situation and competitiveness.

Calculation and Management of Premium Funds in Sharia Insurance (Ta'min, Takaful or Tadhamun)

This research discusses the calculation of the premium of term life-insurance based on sharia principles. The difference between the conventional method and the sharia principle is in the concept of interest rates. In this research, the concept of interest in the conventional method is replaced by the Return on Investment (ROI) that changes stochastically following the Langevin type model. The Monte-Carlo simulation is applied to generate the ROI with some initial values. On the mechanism of premium management, we apply the system without a saving element and the Al-Mudharabah relationship where the participants will get a sharing-profit of the operating surplus if they don’t make a claim until the end of the agreement period. We assume that the administrative expenses only charged in the first year. Therefore, the operating surplus will be greater after the first year. In addition, we do 20 times of Monte–Carlo simulations to generate the ROI with initial value are 7.5%, 9%, and 10%. The result shows that the annual premiums become smaller when the ROI become greater and vice versa. This is because the company get a smaller return when the initial of ROI is small. So the annual premium will be greater. The annual premium for male participants is greater than women because the rate of death of men is greater than women. The other factors that make the annual premium more expensive are length of the agreement and greater compensation.Keywords: Langevin type model, stochastic differential equation, system without a saving element, Al-Mudharabah principle, Monte–Carlo simulation. AbstrakPenelitian ini membahas mengenai perhitungan dana premi asuransi jiwa berjangka berdasarkan prinsip–prinsip syariah. Perbedaan antara metode konvensional dengan prinsip syariah adalah pada konsep tingkat bunga. Pada penelitian ini, konsep bunga digantikan dengan nilai Return on Investment (ROI) yang berubah secara stokastik mengikuti model tipe Langevin. Simulasi Monte–Carlo diterapkan untuk membangkitkan nilai ROI menggunakan beberapa nilai awal. Pada mekanisme pengelolaan dana premi, kami menerapkan sistem tanpa unsur tabungan dan hubungan Al-Mudharabah dimana peserta akan mendapatkan bagi hasil atas surplus operasional jika peserta tersebut tidak melakukan klaim sampai akhir masa perjanjian. Kami mengasumsikan bahwa biaya administrasi hanya dibebankan pada tahun pertama. Sehingga surplus operasional akan menjadi lebih besar setelah tahun pertama. Selain itu, kami melakukan 20 kali simulasi Monte–Carlo untuk membangkitkan ROI dengan nilai awal 7.5%, 9%, dan 10%. Hasil menunjukkan bahwa premi tahunan akan semakin kecil jika nilai awal dari ROI membesar dan sebaliknya. Hal ini disebabkan oleh keuntungan perusahaan yang kecil jika nilai awal ROI semakin kecil sehingga premi tahunan haruslah lebih besar. Premi tahunan untuk peserta laki-laki cenderung lebih besar daripada premi tahunan peserta wanita. Hal ini karena tingkat kematian laki-laki lebih tinggi daripada wanita. Faktor lain yang membuat premi tahunan lebih besar adalah lamanya masa kontrak asuransi dan kompensasi yang semakin besar.Kata kunci: Model tipe Langevin, persamaan diferensial stokastik, sistem tanpa unsur tabungan, prinsip Al-Mudharabah, simulasi Monte–Carlo.

Identifying the Financial Risk Factors of Excessive Indebtedness of Rural Communes in Poland

The purpose of this paper is to identify the financial risk factors of excessive indebtedness of Polish rural communes. The objective of this research task is to verify the following research hypothesis: the main determinant of the risk of excessive indebtedness is the rural communes’ own income potential. To meet the objective of this research, an empirical study was carried out in three steps. The first step of the research procedure was the analysis of the operation of Polish rural communes in the context of financial management. In the second step was the analysis of indebtedness of rural communes compared to other types of Polish administrative units in 2007–2017. The evolution of the level and share of total debt in total incomes of entities studied was analyzed, and the share of overindebted rural communes was identified. In the third step, a discriminatory analysis was performed to build a model able to forecast the financial risk factors of excessive indebtedness for Polish rural communes. The problem of increasing indebtedness can be observed in a growing number of communes and on an increasing scale in Poland. The discriminant analysis showed that the share of the operating surplus and own income in total income, as well as the amount of the EU funds per capita (in zlotys), are particularly significant. The study reveals that the smaller the share of the operating surplus in total income is as well as the greater the share of own income in total income and the amount of the EU funds in zlotys per capita are, the lower the value of the estimated discriminatory function is and the higher the risk of excessive indebtedness of a rural commune is.

The Discussion on Input – Output Framework Extended for Analyzing on Relationship between Demographic and Economic

So far, many studies on economic structure have been proposed, Studies on the relationship between demographics and communication economics basically consider changes in age structure, leading to changes in saving and investment capacity. In Miyazawa's demographic-economic model, the focus has been on quantifying the relationship of final consumer groups and corresponding income groups. This study tries to establish the relationship between age and output and income. This study tries an attempt to extended Miyazawa’s model which gross capital formation at columns and operating surplus at rows. That means the input – output system was not only extended aging group at consumption of employees at rows and final household consumption at columns, but alsoadd to gross capital formation at columns and total income of producers (operating surplus and exogenous income) at rows. In this system, it is allowed to consider changing population structure which not only affects economy through saving or investment but also the structure of final consumption by age also spreads to output and income. So, in this research is not only this related inter-sartorial at first-time distribution for considering but also the impact of demographic to economic activities and re-distribution income follow by type of aging group.

Regional diversification of investment potential of local government units

Local government units (LGUs) in Poland are responsible for the implementation of a wide range of public tasks, which should be carried out in accordance with the principle of subsidiarity at lower management levels. This requires LGUs to incur not only current expenditure for the implementation of various tasks, but also investment expenditure —to provide wider access to infrastructure elementsfor local development. The opportunities for finding funds for development activities (identified with investment) are called investment potential in the subject literature.The aim of the paper is to present spetial differences in investment potential of LGUs in Polanddetermined by operating surplus. In the first part, it presents theoretical issues regarding the investment potential of local government units and the measurement meth-ods. The second one is devoted to the analysis of empirical data for the period 2007—2016 provided by Statistics Poland and Ministry of Finance.According to the study, the level of investment potential diversification both in absolute values and per capita is high, although it has decreased in recent years. The greatest variation is observed among gminas. It is worth noting that investment potential hasa fundamental impact on the volume of investment expenditure incurred by local government, which is confirmed by the results of correlation analysis.