This dissertation develops a theoretical framework for the analysis of oligopolistic rivalry through cost-reducing research and development (R&D) expenditures in an environment where firms cannot fully appropriate the results of their R&D investment. This framework is developed in order to examine the incentives of firms to invest in R&D in oligopolistic markets, the implications for the structure and performance of industries subject to such spillovers and the nature of public policy in this context. Two lines of research are followed: one focuses on technological factors affecting incentives and performance, the other on the influence of strategic behaviour. With respect to technological factors, it is argued that the impact of research spillovers on market incentives and performance, and on the desirability of a public policy of R&D subsidies, depends crucially on the specific assumptions made about how a firm's production process is affected by its own R&D and that of its rivals. These assumptions are embodied in the knowledge production function and the associated cost function facing each firm. Issues of substitutability and complementarity between a firm's research and that of its rivals and between various components of a firm's own research are central in determining the impact of spillovers. The level and composition of R&D investment, production and profitability, concentration and monopoly power are all influenced by the impact of rivals' research on the marginal productivity of a firm's own research. Optimal subsidies are similarly influenced. This suggests that the effectiveness of such policies towards R&D investment depends on the nature of technology and on specific appropri-ability characteristics of industries. With respect to strategic behaviour, the dissertation extends previous research in the context of a multi-stage model of international competition in R&D to the case where R&D is subject to spillovers. This allows an examination of the importance of different behavioural assumptions (one-stage vs. multi-stage decision-making) on the impact of spillovers. The analysis also questions the results of strategic models obtained with full appropriability of R&D, whereby strategic behaviour results in higher equilibrium levels of R&D and production and lower profits. Strategic behaviour can result in lower R&D and higher profitability if research is difficult to appropriate. The conditions under which this occurs are explored fully. The characteristics of industrial policy in the context of strategic international competition are then explored. Models that assume fully appropriable R&D suggest the optimality of a policy of positive subsidies to the R&D expenditures of domestic firms. The existence of spillovers may reverse this result. The analysis thus casts doubt on the efficacy of a government policy of R&D subsidies in a strategy of "precommitment". This goes beyond the usual retaliatory arguments against such behaviour and points to the limits of such an interventionist approach in an international environment where R&D has some characteristics typical of public goods.

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The thesis consists of two parts entitled 'Estimation' and 'Analysis'. The 'Estimation' part is devoted to developing a new set of estimates of saving in Pakistan over the period 1950-77. For this purpose, the economy has been divided into three sectors, namely the private non-corporate sector (including mainly households and unincorporated businesses), the corporate sector and the government sector. Saving in the private noncorporate sector has been estimated from data collected on the sector's acquisition of various types of financial and real assets. Estimates of corporate saving have been built up from corporate profit and loss accounts. Saving in the government sector has been estimated from government budget documents and annual accounts of public sector enterprises. These estimates provide for the first time continuous and consistent information on the sectoral origin and asset-structure of saving in the country. The estimates available thus far were too aggregative in character, having been derived indirectly from the national accounts by subtracting net capital inflow from gross domestic investment. The 'Analysis' part of the thesis is devoted to a detailed analysis of saving behaviour in the country over the period covered by the new set of estimates. Trends in the rates, sectoral composition and asset-structure of saving are studied. Econometric estimation of aggregate and sectoral savings functions with time-series data is the main tool of analysis used in identifying major influences on past saving behaviour. The mechanisms underlying various arguments in the functions are noted and subjected to empirical tests. The regression results are discussed and related to the actual time paths of the relevant variables. Evidence based on crosssection data is examined in the case of some factors which could not be included in the regression analysis either because of lack, of proper data or because of the time-series nature of the exercise. The policy implications of the results of the analysis are studied and, on the basis of the findings, the mix of public financial policies employed in the past is critically assessed.

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This is a study of the relationship between livelihood strategies, soil fertility investment and land use in the village of Fandou Ben, southwestern Niger. The aim has been to place alleged soil degradation in a specific, differentiated and dynamic local context. The village, which is populated by Djerma and Fulani, has a low population density. The agricultural system is dominated by millet cultivation on poor soils. It now depends on short-fallow periods to restore fertility, other sources of inputs being limited. There are high erosion rates and an annual precipitation of 600mm with high variability. The local narrative can be interpreted to represent this landscape as a lifescape: an environment that is a product of a complex sequence of agricultural decisions and livelihood responses. The flexibility in the ways in which the farmers manage their soil is a reflection of the ephemerality of the factors that govern soil productivity and the need to adapt to natural biodiversity and spatial variability. They relied on their local knowledge to maximise productivity, as in their precision application of organic inputs, the ways in which they are increasingly integrating smallstock into their strategies, and the increasing signs of ethnic cooperation. Using a Sustainable Rural Livelihoods framework, the key determinants of land allocation and soil investment were found to be household productive capacity, the productive potential of the land, the degree of household livelihood diversification, and the farmer's capacity to recognise opportunities, prioritise and enact entitlement. The household's endowments were dynamic and spatially differentiated. The diversity of livelihood situation, knowledge, experience, and perceptions of power and identity created many different routes of livelihood response, and varying rates of agricultural investment. Within these multiple pathways, there were dynamic transformations between natural capital and the non-farm component of rural dwellers' livelihoods.

This paper outlines the objective of the study on mean-variance optimization application in the Malaysian stock market. It offers a critical review of the salient literature that discuss the advantages and limitation of mean-variance analysis, especially in imperfect markets and thus sets the basis for trying out a novel portfolio management approach in Malaysia. / Mean-variance optimization was first developed by Harry Markowitz in 1952 but was later adopted by William Sharpe in his capital asset pricing model (CAPM) to exploit asset pricing anomalies to achieve exceptional gain and to diversify unsystematic risk in investment portfolios as compared to holding the market portfolio. / In this paper, the researcher explores the pros and cons of MV optimization through reviewing the past literature and suggests various modification/adaptation to the existing model to suit the local environment. He also suggests the addition of stock size and value as moderating factors to enhance the effectiveness of the test model. / Thesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2006.

Thesis (PhD) -- University of South Australia, 1999

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Thesis (doctoral)--Universitat, Erlangen-Nurnberg. / Title from e-book t.p. (viewed Jan. 17, 2008). Available through ebrary Inc. Includes bibliographical references.