Fungibility

The `right´ choice of instruments and modalities to provide aid to developing countries in support of poverty reduction and economic development is arguably the most contested issue in the current international debate on aid effectiveness. A particular controversy exists around the provision of aid in the form of budget support to avoid high transaction costs and other shortcomings of traditional project-based aid. Critics argue that this kind of `programme aid´ involves unacceptably high fiduciary risks due to the fungibility of budgetary funds. A more recently proposed form of aid is in the form of results-based aid or aid on delivery. Proponents argue that this provides donors with better control over the use of aid resources. This paper demonstrates in a simple principal-agent framework with asymmetric information that in the absence of transaction costs, for a wide range of combinations of aid dependency and recipient government commitment to reduce poverty, all three forms of ...

This study examined the determinants of rural household agriculture credit fungibility (CF). The study found agricultural CF among farmers, with approximately 79% of farmers involved in agricultural CF. Household financial burden was found to be the main cause of CF among the studied farmers. Most fungible credit was used for clothing and food consumption. A probit model was employed to analyze survey data collected from four regions in Ghana. We employed an instrumental variable approach (IV-Probit) to test for robustness due to endogeneity issues. The econometric model results show that the variables of off-farm income and farm size inversely influenced agricultural CF, while those of education, household size, male farmer gender, and chronic disease variables had a positive effect on agricultural CF. Our findings have policy implications for alleviating agricultural CF.

This study examined the determinants of rural household agriculture credit fungibility (CF). The study found agricultural CF among farmers, with approximately 79% of farmers involved in agricultural CF. Household financial burden was found to be the main cause of CF among the studied farmers. Most fungible credit was used for clothing and food consumption. A probit model was employed to analyze survey data collected from four regions in Ghana. We employed an instrumental variable approach (IV-Probit) to test for robustness due to endogeneity issues. The econometric model results show that the variables of off-farm income and farm size inversely influenced agricultural CF, while those of education, household size, male farmer gender, and chronic disease variables had a positive effect on agricultural CF. Our findings have policy implications for alleviating agricultural CF.

There is evidence in the literature that spending on a specific area could increase less than the amount transferred to that area, being the rest of the resources used to finance other public goods and services. This result became known as fungibility effect. The purpose of this paper is to evaluate the impact of SUS transfers on health spending, seeking to verify if most of the resources transferred by the government are in fact being used in health. We employed classical panel models, as well as fixed effect quantile regressions. We find evidence on the fungibility effect since for each R$ 1 transferred to health about R $ 0.20 are directed towards other areas. Besides the effect is smaller for municipalities with higher spending on health.

We investigated whether organizational change and organizational power are antecedents of working self-and other-objectification by focusing on two facets: fungibility and instrumentality. In Study 1 (N = 118), office workers who had experienced an operational review, compared to no exposure, were found to have significantly higher perceptions of being objectified as instrumental by their organization. Further, less powerful employees had significantly higher perceptions of being objectified as fungible, that is, as interchangeable, versus managers and heads of departments. Workers' perception of being objectified as fungible, but not instrumental, predicted tendencies to self-objectify. Furthermore, this relationship was mediated by professional efficacy. In Study 2 (N = 160), we examined other-objectification. The results showed that instrumentality, rather than fungibility, primarily contributed to the objectification of a fictitious worker. These studies highlight the importance of taking a theoretical and methodological multidimensional approach to the study of workplace self-objectification and other-objectification.

This paper uses panel data from a sample of farm households in the northeastern China to examine the non-fungibility of different income sources. The results show the private transfer income has a high and significant impact on household consumption while agricultural subsidy and disaster relief have insignificant impacts. Empirical findings prove that the Behavioral Life Cycle Hypothesis is more practical than the Life Cycle Hypothesis. Moreover, they provide important macro policy implications as for how to stimulate farm consumption and expand domestic demand and encourage economic growth.

This paper uses panel data from a sample of farm households in the northeastern China to examine the non-fungibility of different income sources. The results show the private transfer income has a high and significant impact on household consumption while agricultural subsidy and disaster relief have insignificant impacts. Empirical findings prove that the Behavioral Life Cycle Hypothesis is more practical than the Life Cycle Hypothesis. Moreover, they provide important macro policy implications as for how to stimulate farm consumption and expand domestic demand and encourage economic growth.

This study examined the impact of off-farm employment on rural household agriculture credit fungibility (CF) using survey data collected from four regions in Ghana; however, the study paid more attention to agriculture credit received from different sources. By employing the endogenous switching regression (ESR) model, we solved the endogenous issue of off-farm employment. The econometrics model result revealed that off-farm employment negatively influences the household’s probability of practicing agriculture CF. Our results discovered the importance of off-farm employment on agriculture CF and recommended policy implications capable of alleviating agriculture CF.

The managerial cognition construct has been used in strategic management literature to illustrate various organisational phenomena related to organisational capabilities building and strategic outcomes.
This article reviews the relevant literature to determine key dimensions of this construct and offer a reconceptualisation of managerial cognition. Based on the dynamic theory and managerial cognition perspective, this article distinguishes between cognition of environment and cognition of resources as two subsets of managerial cognition.
This article then advances that cognition of the environment and cognition of resources can differentially and complementarily influence the creation of capabilities of an organisation and its competitive advantage.

This study examined the impact of off-farm employment on rural household agriculture credit fungibility (CF) using survey data collected from four regions in Ghana; however, the study paid more attention to agriculture credit received from different sources. By employing the endogenous switching regression (ESR) model, we solved the endogenous issue of off-farm employment. The econometrics model result revealed that off-farm employment negatively influences the household’s probability of practicing agriculture CF. Our results discovered the importance of off-farm employment on agriculture CF and recommended policy implications capable of alleviating agriculture CF.

ABSTRACT: The impact of access to financial services (AFS) and access to informal financial services (AIFS) on farmer income is examined in this study. After a multi-stage random sampling procedure, the study used a sample size of 478 people from two regions in Ghana. The endogenous treatment regression (ETR) model was used to account for selection bias while the unconditional quantile regression (UQR) model was used for a heterogenous analysis. The findings showed that education, financial literacy, IT access, farm size, and distance were all factors of access to financial services. Similarly, the findings revealed a positive and statistically significant link between household income and access to formal financial services. Similarly, there was a positive and significant association between access to informal financial services and household income. The findings showed that access to formal and informal financial services has different effects on household income. As a result, the...