Whole document restricted, see Access Instructions file below for details of how to access the print copy. / Approaching retirement, individuals are confronted by a range of future risks and uncertainties. The primary worry is insufficient income and the associated danger of outliving one's capital. New Zealand has a unique approach for reducing this risk, comprising a universal state pension supplemented by voluntary unsubsidised saving. This simple model meets poverty prevention objectives, but middle-income baby-boom cohorts may struggle to achieve their income-replacement aspirations. The modest capital they have saved to supplement the state pension is exposed to the risks of inflation, poor investment outcomes, growth in living standards, and increasing longevity. They will enter retirement with significantly less private pension provision than previous generations and while they may hold a high proportion of their assets in owner-occupied homes, this equity is not readily accessed. They and their families also face the risk that they might require costly long-term residential care in old age. Women are likely to be particularly affected, not only as the spouses of men needing care, but, because of greater average longevity, they have a higher propensity to need long-term care themselves. Pension design and annuity markets are neglected areas of inquiry in New Zealand. In part this is because international pressures to privatise the state pension by setting up compulsory savings schemes in the private sector have been resisted. This thesis outlines the historical, practical, political and theoretical factors that explain the demise of private pensions and annuities. This provides a record of international interest as New Zealand is the first developed country to institute a tar neutral environment for retirement saving. While the New Zealand model is largely a credible one, there are significant shortcomings. This thesis examines whether economic theories can cast new light on what should be done and finds the experimentation of a pragmatic kind that has gone on historically precludes highly theoretical or ideological policy solutions. Normative judgements about well-being and distribution cannot be avoided. An integrated approach to reforming the New Zealand system is explored, based on the advantages of linking certain kinds of insurance. A substantial role for the state is inescapable; especially in the annuities market, which, it is argued, should be developed to play a significant role in retirement policy options. A state-guaranteed life annuity linked to long-term care insurance financed by a combination of cash and home equity is proposed, subsidised by intragenerational transfers from the retired population. This reform proposal builds on the existing pre-retirement saving policy and keeps the state pension as the cornerstone. The pay-off is improved welfare for middle-income retirees, greater economic efficiency, lower fiscal cost and improved equity both across and within generations. A greater credibility for the New Zealand model in international forums is also likely to follow.

Whole document restricted, see Access Instructions file below for details of how to access the print copy. / Approaching retirement, individuals are confronted by a range of future risks and uncertainties. The primary worry is insufficient income and the associated danger of outliving one's capital. New Zealand has a unique approach for reducing this risk, comprising a universal state pension supplemented by voluntary unsubsidised saving. This simple model meets poverty prevention objectives, but middle-income baby-boom cohorts may struggle to achieve their income-replacement aspirations. The modest capital they have saved to supplement the state pension is exposed to the risks of inflation, poor investment outcomes, growth in living standards, and increasing longevity. They will enter retirement with significantly less private pension provision than previous generations and while they may hold a high proportion of their assets in owner-occupied homes, this equity is not readily accessed. They and their families also face the risk that they might require costly long-term residential care in old age. Women are likely to be particularly affected, not only as the spouses of men needing care, but, because of greater average longevity, they have a higher propensity to need long-term care themselves. Pension design and annuity markets are neglected areas of inquiry in New Zealand. In part this is because international pressures to privatise the state pension by setting up compulsory savings schemes in the private sector have been resisted. This thesis outlines the historical, practical, political and theoretical factors that explain the demise of private pensions and annuities. This provides a record of international interest as New Zealand is the first developed country to institute a tar neutral environment for retirement saving. While the New Zealand model is largely a credible one, there are significant shortcomings. This thesis examines whether economic theories can cast new light on what should be done and finds the experimentation of a pragmatic kind that has gone on historically precludes highly theoretical or ideological policy solutions. Normative judgements about well-being and distribution cannot be avoided. An integrated approach to reforming the New Zealand system is explored, based on the advantages of linking certain kinds of insurance. A substantial role for the state is inescapable; especially in the annuities market, which, it is argued, should be developed to play a significant role in retirement policy options. A state-guaranteed life annuity linked to long-term care insurance financed by a combination of cash and home equity is proposed, subsidised by intragenerational transfers from the retired population. This reform proposal builds on the existing pre-retirement saving policy and keeps the state pension as the cornerstone. The pay-off is improved welfare for middle-income retirees, greater economic efficiency, lower fiscal cost and improved equity both across and within generations. A greater credibility for the New Zealand model in international forums is also likely to follow.

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No description available.

New Zealand has a problem with an increasing number of motor vehicles being abandoned at the end of their useful life. The environmental and associated social costs created by this problem are expected to increase with the rising number of vehicles entering the country. In addition, there are environmental concerns regarding some aspects of the legal disposal of end-of-life vehicles (ELVs). The exact magnitude of both problems is unknown and attempts made to address them have been ad hoc and success limited. This thesis sets out to quantify the problems and provide policy makers with tools to improve the overall management of motor vehicle disposal in New Zealand. To assess the extent and cost of the abandoned vehicle problem, local authorities are surveyed. The legislation dealing with car ownership, transferral and disposal and its implementation are scrutinised for weaknesses that allow ELVs to be abandoned without penalty. The automobile recycling industry is surveyed to determine the environmental impact from the industry's activities. Using semi-structured surveys, policies and practices used in other countries for the management of ELVs are investigated and assessed for effectiveness. Their application to the New Zealand situation is ascertained. Of the vehicles which are deregistered each year, one in five is dumped. The direct cost to local authorities, to deal with the 25,500 vehicles abandoned each year, is more than six million dollars. In addition, practices and standards for the removal and disposal of hazardous substances from ELVs vary nationwide, adding to the environmental burden caused by vehicle disposal. Recommendations for the improved management of ELVs target four areas, legislation, institutional practices, entry into the recycling system and dismantling operations. Minor changes to legislation and institutional practices combined with rigorous enforcement will close the data gaps and overcome free-rider problems. A disposal charge added to the registration fee of vehicles entering the country will allow ELV owners to dispose of their vehicles free-of-charge. Improved environmental performance by automotive dismantlers can be achieved through licensing and consistent monitoring from within the industry. Implementation of these recommendations will lead to better management of ELVs, through changed behaviour by private individuals and dismantling operations, and a reduction in the environmental costs associated with vehicle disposal.

Credit plays an important role in agricultural development and it is believed that expansion of credit programmes will have beneficial effects on agricultural production and incomes of small farmers. It is also a key to poverty alleviation, livelihood diversification, and increasing the business skills of small farmers. In the Philippines, small-scale and subsistence agriculture source their loans mostly from informal lenders, thus access to formal credit remains low. There is a need to examine further small farmers’ access to credit and investigate their preferences and perceptions regarding credit in order that their access can be improved and their needs through credit can be more effectively met. Determining the problems and the credit needs of small farmers are important considerations in designing appropriate credit systems for them. Accessibility of rural credit in the Philippines was examined, with the primary objective of exploring the use of and access to rural credit by small farmers. This research attempts to explore and understand the perceptions of small farmers toward rural credit, and to collect information in proposing an appropriate credit system for them. Two types of respondents were interviewed for the research; 45 individual farmers, and four key informants in New Corella, Davao del Norte. The research focused on how the farmers perceived the rural credit facilities, their preferences, their reasons for borrowing, and their problems in accessing credit. Qualitative data analysis was done for the information gathered. Access to credit by farmers was limited to the available credit services in the research area, thus farmers’ choices and preferences were not well served which led to borrowing from informal lenders. Credit restrictions such as commodity specific credit programmes, credit that requires collateral, and lengthy and complicated procedures restricted the farmers from accessing formal credit. It is recommended that accessibility to credit by small farmers could be improved by providing innovative financing schemes that address problems of farmers who lack collateral, and minimise long processing of documents and other requirements. In this way, farmers may be encouraged to better utilise formal credit and decrease their reliance on informal lenders, thus avoiding higher interest rates and thereby increasing their farm productivity and household incomes.

Whole document restricted, see Access Instructions file below for details of how to access the print copy. / Approaching retirement, individuals are confronted by a range of future risks and uncertainties. The primary worry is insufficient income and the associated danger of outliving one's capital. New Zealand has a unique approach for reducing this risk, comprising a universal state pension supplemented by voluntary unsubsidised saving. This simple model meets poverty prevention objectives, but middle-income baby-boom cohorts may struggle to achieve their income-replacement aspirations. The modest capital they have saved to supplement the state pension is exposed to the risks of inflation, poor investment outcomes, growth in living standards, and increasing longevity. They will enter retirement with significantly less private pension provision than previous generations and while they may hold a high proportion of their assets in owner-occupied homes, this equity is not readily accessed. They and their families also face the risk that they might require costly long-term residential care in old age. Women are likely to be particularly affected, not only as the spouses of men needing care, but, because of greater average longevity, they have a higher propensity to need long-term care themselves. Pension design and annuity markets are neglected areas of inquiry in New Zealand. In part this is because international pressures to privatise the state pension by setting up compulsory savings schemes in the private sector have been resisted. This thesis outlines the historical, practical, political and theoretical factors that explain the demise of private pensions and annuities. This provides a record of international interest as New Zealand is the first developed country to institute a tar neutral environment for retirement saving. While the New Zealand model is largely a credible one, there are significant shortcomings. This thesis examines whether economic theories can cast new light on what should be done and finds the experimentation of a pragmatic kind that has gone on historically precludes highly theoretical or ideological policy solutions. Normative judgements about well-being and distribution cannot be avoided. An integrated approach to reforming the New Zealand system is explored, based on the advantages of linking certain kinds of insurance. A substantial role for the state is inescapable; especially in the annuities market, which, it is argued, should be developed to play a significant role in retirement policy options. A state-guaranteed life annuity linked to long-term care insurance financed by a combination of cash and home equity is proposed, subsidised by intragenerational transfers from the retired population. This reform proposal builds on the existing pre-retirement saving policy and keeps the state pension as the cornerstone. The pay-off is improved welfare for middle-income retirees, greater economic efficiency, lower fiscal cost and improved equity both across and within generations. A greater credibility for the New Zealand model in international forums is also likely to follow.

Marine Protected Area (MPA), as a fisheries management tool has been promoted by both national and local conservationists and has provided de facto illustrations of integrated coastal management (ICM) in the Philippines. However, conflict is inevitable in the implementation of public policy such as the MPA because of contrasting objectives and expectations from various stakeholders. Coupled with non-human (e.g. MPA size) and human (e.g. mismanagement) threats, conflict becomes a hindrance to MPA effectivity. In the Philippines alone, only 10-20% of the 500 MPAs are attaining their objectives. This study presents an overview of MPA management and examines the interaction between the civil society and market forces of institutional arrangements in the case of North-Eastern Iloilo (NI) in the Philippines. It discusses overall scenarios that resemble conflict between various national, local and international sectors, assessing MPA success factors and the expected implications from such implementation. Results from key informant, focus-group discussion and social survey show that there are problems on MPA management in the region. Using data and strategic analyses, it presents that minimisation of conflicts amongst actors should be the primary goal of the NI municipalities. In addition, MPA size and membership to organisations are also significant factors of success. Moreover, the analysis from a simple correlation to complex Principal Component Analysis (PCA) and Canonical Correlation Analysis (CCA) conclude that information on MPA regulation does not directly contribute to the improvement in MPA management. It implies that a focus on informing stakeholders about the benefits of having an MPA and its regulations is ineffective. The focus should be on the reduction of conflict between economic actors - for free riding problems are currently occurring, thus minimising conflict by conflict resolution and proper incentives. However, there are still remaining challenges on MPA management, for not all factors are incorporated on this study. The challenge now is on how to identify the remaining factors and integrate them into policies and implementations to improve the overall condition of coastal communities.

Whole document restricted, see Access Instructions file below for details of how to access the print copy. / Approaching retirement, individuals are confronted by a range of future risks and uncertainties. The primary worry is insufficient income and the associated danger of outliving one's capital. New Zealand has a unique approach for reducing this risk, comprising a universal state pension supplemented by voluntary unsubsidised saving. This simple model meets poverty prevention objectives, but middle-income baby-boom cohorts may struggle to achieve their income-replacement aspirations. The modest capital they have saved to supplement the state pension is exposed to the risks of inflation, poor investment outcomes, growth in living standards, and increasing longevity. They will enter retirement with significantly less private pension provision than previous generations and while they may hold a high proportion of their assets in owner-occupied homes, this equity is not readily accessed. They and their families also face the risk that they might require costly long-term residential care in old age. Women are likely to be particularly affected, not only as the spouses of men needing care, but, because of greater average longevity, they have a higher propensity to need long-term care themselves. Pension design and annuity markets are neglected areas of inquiry in New Zealand. In part this is because international pressures to privatise the state pension by setting up compulsory savings schemes in the private sector have been resisted. This thesis outlines the historical, practical, political and theoretical factors that explain the demise of private pensions and annuities. This provides a record of international interest as New Zealand is the first developed country to institute a tar neutral environment for retirement saving. While the New Zealand model is largely a credible one, there are significant shortcomings. This thesis examines whether economic theories can cast new light on what should be done and finds the experimentation of a pragmatic kind that has gone on historically precludes highly theoretical or ideological policy solutions. Normative judgements about well-being and distribution cannot be avoided. An integrated approach to reforming the New Zealand system is explored, based on the advantages of linking certain kinds of insurance. A substantial role for the state is inescapable; especially in the annuities market, which, it is argued, should be developed to play a significant role in retirement policy options. A state-guaranteed life annuity linked to long-term care insurance financed by a combination of cash and home equity is proposed, subsidised by intragenerational transfers from the retired population. This reform proposal builds on the existing pre-retirement saving policy and keeps the state pension as the cornerstone. The pay-off is improved welfare for middle-income retirees, greater economic efficiency, lower fiscal cost and improved equity both across and within generations. A greater credibility for the New Zealand model in international forums is also likely to follow.

Extractive industries (including oil, gas and mining) generally afford an opportunity for the host government to generate the revenue to fund sustainable growth and development. It is therefore not surprising for conventional economic theory to suggest this is a readily available revenue source for resource blessed countries. However, contrary to this reasonable expectation, several of these economies were found to be suffering a financial handicap. Nigeria, despite being the largest crude oil producer in Africa and the tenth largest in the world, has so far found realising the full financial benefits of this nature’s gift unattainable. Using both qualitative and quantitative data as well as grounded theory in the analysis of the qualitative data, this research work has been carried out to develop a model of Nigerian oil industry using System Dynamics modelling methodology in order to understand these challenges. Specifically, the research develops an System Dynamics model to capture and quantify the various potential revenue streams to the Nigerian government from the oil (petroleum) industry with the objective of providing an explanatory model of the causal factors and then using the model to construct policy experiments in order to evaluate policies that may optimise these revenues. Findings show that, the development of the model for the Nigerian oil industry was successfully undertaken. The model was used to evaluate two government policy interventions that were aimed at improving government revenue from the industry. Moreover, a range of alternative scenarios which suggested increase of transparency policy, reduction of rate of gas flare and reduction of time taken for repairs of vandalised facilities were used in the model. The relevant system actors in the Nigerian oil industry were impressed with the modelling idea, particularly in its ability to represents all the economic challenges facing the industry, which offered a better understanding of the system they are dealing with. Overall, the model was able to depict some potential policy points thus serving as a decision-making tool.