Food Research Institute studies (Stanford, Calif. : 1975)最新文献

The Chicago Wheat Futures Market: Recent Problems in Historical Perspective 芝加哥小麦期货市场:历史视角下的近期问题

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1981-01-01 DOI: 10.22004/AG.ECON.135592

R. W. Gray, A. E. Peck

{"title":"The Chicago Wheat Futures Market: Recent Problems in Historical Perspective","authors":"R. W. Gray, A. E. Peck","doi":"10.22004/AG.ECON.135592","DOIUrl":"https://doi.org/10.22004/AG.ECON.135592","url":null,"abstract":"In March of 1979 the Commodity Futures Trading Commission (CFTC) ordered trading terminated in the expiring March wheat futures contract at Chicago, which had three trading days remaining. The CFTC has authority, under the 1974 Act, \"to direct the contract market to take such action as, in the Commission's judgment, is necessary to maintain or restore orderly trading in, or liquidation of, any futures contract .... whenever it has reason to believe that an emergency exists\" (CFTC, 1976). The Chicago Board of Trade obtained an injunction against the CFTC order, allowing the March contract to trade out, and providing at least transitory comfort to those who feared that this unprecedented intervebtion might establish a precedent. The court, in granting the injunction, said \"this is a case where a government agency has overreached itself. It has been called upon to justify its actions, and instead of attempting to do so has chosen to stand behind a rule of law which ... it misconceives\" (Board of Trade, 1979). But the Appeals Court subsequently ruled (upheld by the Supreme Court) that the CFTC order was not subject to judicial review. The CFTC had presented a list of seven market factors upon which the order had been based (CFTC, 1979a);","PeriodicalId":81281,"journal":{"name":"Food Research Institute studies (Stanford, Calif. : 1975)","volume":"67 1","pages":"89-115"},"PeriodicalIF":0.0,"publicationDate":"1981-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83023384","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 46

Measurement of a Random Process in Futures Prices 期货价格随机过程的度量

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1976-01-01 DOI: 10.1007/978-1-349-02693-7_12

A. B. Larson

引用次数: 85

The Nutritional Status of the Rural Family in East Cundinamarca, Colombia 哥伦比亚东昆迪纳马卡农村家庭的营养状况

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1975-01-01 DOI: 10.22004/AG.ECON.135502

K. Swanberg, E. Shipley

引用次数: 5

The Economics of Land Reform 土地改革的经济学

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1973-01-01 DOI: 10.1163/1872-5309_ewic_ewiccom_0238

D. W. Adams

{"title":"The Economics of Land Reform","authors":"D. W. Adams","doi":"10.1163/1872-5309_ewic_ewiccom_0238","DOIUrl":"https://doi.org/10.1163/1872-5309_ewic_ewiccom_0238","url":null,"abstract":"For a number of years I have followed with interest Dr. Warriner's writings on the topics of rural poverty and land reform (25; 26; 27; 28; 29). Her historical as well as multi-country perspective allows her an overview of these matters which few can match. She has consistently directed our attention toward the rural poor and recognized their skills and willingness to change if profitable alternatives were made available. She has stressed income distribution in developmental planning, and has insisted that the term \"land reform\" be used in a narrow sense to mean a change in property ownership in favor of the poor. She has rightly pointed out that land reform is no cure-all, but that it may, in some cases, be the only alternative available for making significant inroads on rural poverty. Few in the development profession can match her dedication to these issues. My comments will be largely supplemental to the points made in her paper. I attempt to do two things: (1) state what I think is the st;te-of-the-art regarding five major economic issues related to land reform, and (2) briefly review the role which economists and aid agencies have played, and the part they will likely play in land reform during the next couple of decades.","PeriodicalId":81281,"journal":{"name":"Food Research Institute studies (Stanford, Calif. : 1975)","volume":"18 1","pages":"133-138"},"PeriodicalIF":0.0,"publicationDate":"1973-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75616497","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 9

The Rise of the Modern Brazilian Rice Industry: Demand Expansion in a Dynamic Economy 现代巴西稻米产业的崛起:动态经济中的需求扩张

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1972-07-01 DOI: 10.2307/3539270

P. Mandell

{"title":"The Rise of the Modern Brazilian Rice Industry: Demand Expansion in a Dynamic Economy","authors":"P. Mandell","doi":"10.2307/3539270","DOIUrl":"https://doi.org/10.2307/3539270","url":null,"abstract":"The ascent of rice to a preeminent position in the Brazilian diet began at some still mystery-enshrouded moment in the second half of the nineteenth century. We do know that since 1920, when the collection of pertinent statistics begins, rice consumption has risen more than threefold (Chart 1). Between 1920-24 and 1963-67, Brazilian rice production increased more than eightfold at a rate of 5.1 per cent per year, from an annual average of 775,000 to 6,500,000 metric tons. Over the same period, the population growth rate was slightly more than 2 per cent a year. According to our \"balance sheet\" estimate of rice consumption (see Appendix II), yearly per capita rice consumption rose from an average of 15.5 kilos in 1920-24 to 48.1 kilos in 1963-67 for an annual rate of increase of 2.7 per cent. This achievement involved a program of import substitution just after the turn of the century which successfully substituted domestic output for imported supply, the formation of Latin America's largest irrigated rice producing zone in Rio Grande do SuI, and the extension of commercial upland (unirrigated) rice production to vast areas in central and southern Brazil as an integral part of the advance of the Brazilian agricultural frontier. This paper charts the rise of Brazilian rice consumption, relates a number of important episodes in the course of that rise, and analyzes the demand factors that accounted for it during the period 1947-67, when the availability of cross section and time series data makes such analysis possible. Curiously, though the growth of the Brazilian rice industry exhibits such exemplary traits as the economic dynamism of producers and middlemen and the cultural flexibility of consumers, it has suffered almost complete neglect. Both the intrinsic interest of this satisfactory but misunderstood chapter of Brazilian agricultural development, and the considerable light it casts upon the long-term process of agricultural modernization reward the effort to lift it from undeserved obscurity. To place the rise of the rice industry in its historical context, particularly","PeriodicalId":81281,"journal":{"name":"Food Research Institute studies (Stanford, Calif. : 1975)","volume":"40 1","pages":"1-59"},"PeriodicalIF":0.0,"publicationDate":"1972-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85837011","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Strategies for Agricultural Development 农业发展战略

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1972-01-01 DOI: 10.18356/07e0334a-en

V. Ruttan, Y. Hayami

引用次数: 16

The Egg Futures Market: 1940 to 1966 鸡蛋期货市场:1940 - 1966

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1972-01-01 DOI: 10.22004/AG.ECON.135309

Diane S. Miracle

引用次数: 4

The Economic Imperialism of the Royal Niger Company 皇家尼日尔公司的经济帝国主义

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1971-01-01 DOI: 10.22004/AG.ECON.135014

S. Pearson

{"title":"The Economic Imperialism of the Royal Niger Company","authors":"S. Pearson","doi":"10.22004/AG.ECON.135014","DOIUrl":"https://doi.org/10.22004/AG.ECON.135014","url":null,"abstract":"The Royal Niger Company was a British chartered company, active from 1886 through 1899 in the territory bordering the Niger and Benue Rivers in contemporary Nigeria, that parlayed its administrative powers into a successful commercial monopoly. Such foreign-owned chartered companies played a significant role in the history of economic imperialism in sub-Saharan Africa. But there is considerable disagreement among economic historians over the profitability of these companies for investors in imperial nations. On one side is the growing group of scholars, many from formerly colonial African nations, who feel that chartered companies were exploitative and profitable for foreign investors (see, for example, 1, p. 319). On the other side are the economic historians who conclude that chartered companies in tropical Africa were generally economic failures, at least from the narrow viewpoint of those who invested in them. A. M. Kamarck, for example, states: \"The chartered companies that went out of existence before World War II in no case had given positive returns on the invested capital\" (22, p. 190). The purpose of this study is to analyze economic aspects of the operations of the Royal Niger Company in order to demonstrate that this chartered company was unquestionably a commercial success and that its economic profitability had important ramifications in the colonization of Nigeria. In an introductory section factors affecting the establishment of the Royal Niger Company as a chartered company with governmental responsibilities as well as commercial privileges are reviewed. The second section contains a history of the commercial and administrative operations of the Company, with emphasis on the successful implementation of a monopoly policy and the circumstances that led to revocation of the Company's charter. The third section is an economic interpretation of Company operations, culminating in a comparison of the declared profits of the","PeriodicalId":81281,"journal":{"name":"Food Research Institute studies (Stanford, Calif. : 1975)","volume":"34 1","pages":"69-88"},"PeriodicalIF":0.0,"publicationDate":"1971-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89035030","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 7

Price Prediction on the Egg Futures Market 鸡蛋期货市场的价格预测

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1967-01-01 DOI: 10.22004/AG.ECON.134943

A. B. Larson

{"title":"Price Prediction on the Egg Futures Market","authors":"A. B. Larson","doi":"10.22004/AG.ECON.134943","DOIUrl":"https://doi.org/10.22004/AG.ECON.134943","url":null,"abstract":"Many studies of price behavior in commodity futures markets center on determination of the long-term net profits of some class of trader. In most cases the trader whose profits are studied is the long speculator, since in what might be called the traditional view, the principal function of the futures market is to accommodate the stock-carrying short hedger. The profits of the long speculators have been interpreted in at least one theory to be a payment by the hedger to the speculator for the service of bearing risk. As the theory of hedging has been refined, it has proved necessary to modify the details of the basic method of study and to reinterpret the results. But the basic device of attempting to measure the long-term profits of a class of trader persists. This method of analysis is beset with many difficulties, most of which have been only partially resolved. Only traders with large positions are classified in the reports as hedgers or speculators. Some misclassification occurs. The exact timing of purchases and sales is not known, so profits cannot be measured accurately. Much of the apparent net profits which accrue to a class of trader, after suitable assumptions are made to deal with the above difficulties, can be traced to a few episodes of large price movement or to persistent long-run general price inBation, neither of which corresponds nicely to the alleged source of profit. Perhaps the greatest difficulty with the basic method outlined above, at least so it seems to me, is the imputation of a deliberate motive to the ex post realized profit. How can a long speculator insist on, say, a 5 per cent level of profit? He seems to be pictured as saying \"I do not know within a dollar what the price will be, but I insist on making a nickel on my trade (on the average).\" He seems to come equipped with the proverbial micrometer on the end of a broomstick, and the broomstick's inaccuracy is supposed to be eliminated by averaging over many measurements. The method appears to beg the question of the ability of speculators to predict price, since no average level of profit is interpreted as bad prediction- rather, different levels of profit are interpreted as showing differing levels of avidness to speculate, or different levels of risk-aversion, and prediction is, on the average, exact . This paper is directed in part toward the question of the ability of speculators to predict prices in the egg futures market at the Chicago Mercantile Exchange. The relationship between cash and futures prices of eggs is examined for the eleven-year period ending in 1966, during which almost all of the movement in cash egg prices can be attributed to a 12-month seasonal and a 30-month cyclical pattern. We argue that the cycle, at least for the early part of the period, was exceptionally free of random components and persisted long enough so that cash egg prices were highly predictable. Is there any indication that traders on the egg futures market were able to p","PeriodicalId":81281,"journal":{"name":"Food Research Institute studies (Stanford, Calif. : 1975)","volume":"27 1","pages":"49-64"},"PeriodicalIF":0.0,"publicationDate":"1967-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82277556","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Normal Backwardation, Forecasting, and the Return to Commodity Futures Traders 正常的现货溢价、预测和商品期货交易者的回报

Food Research Institute studies (Stanford, Calif. : 1975) Pub Date : 1967-01-01 DOI: 10.1007/978-1-349-02693-7_10

Charles Rockwell

引用次数: 80