EFFECT OF ENVIRONMENTAL REGULATIONS ON STATE- LEVEL MANUFACTURING CAPITAL FORMATION*

ABSTRACT We quantify the effect of environmental regulations on regional capital formation in the manufacturing sector. Our model integrates environmental regulations into a choice-theoretic model derived from Tobin's q theory of investment. It is postulated that more stringent environmental regulations raise the firm's cost of production both directly and indirectly, thus reducing the firm's q value and lowering the rate of capital formation. The empirical results indicate that the effect of environmental regulations on net capital formation is modest. We do find that environmental regulations affect regions differently. More stringent environmental regulations will improve the relative position of manufacturers in the North-east, South Atlantic and West. Over one-fourth of the dollar losses in manufacturing capacity would occur in five states: Texas, California, Pennsylvania, Ohio and Michigan.     

Asphaltum hafting and projectile point durability: an experimental comparison of three hafting methods

The design of a projectile delivery system often plays a critical role in the durability and breakage patterns associated with spent projectile points. This paper presents the results of an experimental project designed to examine projectile point durability and breakage patterns between three different hafting methods. Specifically, we compare two asphaltum hafting techniques drawn from archaeological and ethnohistoric accounts from the Central Valley of California with a more stereotypical cross-hatched sinew hafting system. Our results suggest a small yet statistically significant increase in durability among asphaltum hafted points, opening the door to future research on these ethnohistorically documented hafting techniques.     

REGIONAL CAPITAL FORMATION IN U. S. MANUFACTURING DURING THE 1970s

ABSTRACT The study quantifies the impact of changes in input prices on regional net investment in manufacturing. A neoclassical investment model is estimated for the nation and three regions: North, South, and West. The data base is pooled state observations for the period 1974-78. The regional elasticities of net investment with respect to both input prices and the technology index are computed. The results indicate that net investment is mare sensitive to changes in input prices in the South and West than in the North. The biased technical change affects capital formation the mast in the West.     

Entitlements Analysis: Relating Concepts and Contexts

Sen's entitlements approach has attracted much attention and imitation, including attempted extensions beyond its original context in the explanation of famines. It has evolved in various ways as it is applied to new regions, purposes and subjects – beyond South Asia, to policy design and to matters of routine hunger, environment, gender and overall intra-societal distribution. For analysis of famines, the approach provides a valuable set of concepts and questions in explanation and policy design; but it gives a general frame rather than a comprehensive theory or detailed explanatory model. For wider subjects, this general approach – a socially disaggregated, institutionally aware analysis of effective command over specific necessities – is again valuable. However, difficulties may arise with its concept of ‘entitlement relations’, and with confusions related to the label and the referent of the ‘entitlement’ concept, and to the original ‘exchange entitlement’ label. Sen's concepts and labels reflected, naturally enough, the purposes in his study of the 1940s Bengal famine and its specific conditions. A modified set of concepts and labels may be more helpful, together with an underlining of the variety of contexts and of the limits to any one theoretical frame.     

Book reviews

SYSTEM 37 VIGGEN: ARMS, TECHNOLOGY, AND THE DOMESTICATION OF GLORY. Ingemar Dörfer. Universitetsforlaget, Oslo, 1973. 258 pp. N.Kr.90 ($US18.00).

SIR JOHN MONASH. A. J. Smithers. Angus and Robertson, Sydney, 1973. 0–207–12587–2. 303 pp. $7.95.

RADICAL POLITICAL ECONOMY: COLLECTED ESSAYS. E. L. Wheelwright. ANZ Books, Sydney, 1974. 0–85552–018–3. 414 pp. $5.95 paper.

JAPAN'S FOREIGN POLICY. F. C. Langdon, University of British Columbia Press, Vancouver, 1973. 321 pp. $US9.00 hardcover.

THE PATHET LAO: LEADERSHIP AND ORGANISATION. Joseph J. Zasloff. Lexington Books, Lexington, Massachusetts, 1973. 174 pp. $US10.00.

PERVASIVE POLITICS: A STUDY OF THE INDIAN DISTRICT. Donald F. Miller Melbourne Politics Monographs, Department of Political Science, University of Melbourne, 1972. 226 pp. $2.80, $1.80 (students), paper (postage: local 85c, overseas $1.05).

CHINA IN BURMA'S FOREIGN POLICY. Ralph Pettman. Australian National University Press, Contemporary China Papers No. 7, Canberra, 1973. 56 pp. $2.50 paper.

ZAMBIA. SECURITY AND CONFLICT. Jan Pettman. Julian Friedmann Publishers Ltd., Lewes, Sussex, 1974. 284 pp. £4.25.

THE DIPLOMACY OF CONSTRAINT: CANADA, THE KOREAN WAR AND THE UNITED STATES. Denis Stairs. University of Toronto Press, Toronto, 1974. 371 pp. $C15.00 hard cover.

ALL TOGETHER NOW: THE ORGANIZATION OF THE DEPARTMENT OF NATIONAL DEFENCE IN CANADA, 1964–1972. Vernon J. Kronenberg. Canadian Institute of International Affairs, Toronto, 1973. 124 pp. $C2.50 paper.

WAR MACHINERY AND HIGH POLICY: DEFENCE ADMINISTRATION IN PEACETIME BRITAIN 1902–1914. Nicholas d'Ombrain. Oxford Historical Monographs, Oxford University Press, London, 1973. 302 pp. $13.15.

BRITAIN'S LEGACY OVERSEAS. Geoffrey Bolton. Oxford University Press, 1973. 168 pp. $2.10, paper.

GREAT POWER POLITICS AND NORWEGIAN FOREIGN POLICY: A STUDY OF NORWAY'S FOREIGN RELATIONS NOVEMBER 1940‐FEBRUARY 1948. Nils Morten Udgaard. Universitetsforlaget, Oslo, 1973.

EUROPE 1945 TO 1970. Charlotte Waterlow and Archibald Evans. Methuen, London, 1973. 423–87840–9. 316 pp. $11.60.