NONTARIFF AGRICULTURAL TRADE BARRIERS: LIVESTOCK AND MEAT LEGISLATIVE AND REGULATORY DEVICES AS THEY AFFECT INTERNATIONAL TRADE BETWEEN INDUSTRIALLY DEVELOPED COUNTRIES
AuthorLynham, Mark Barrington
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PublisherThe University of Arizona.
RightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
Degree ProgramGraduate College
Degree GrantorUniversity of Arizona
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A SIMULATION STUDY OF THE FULL COST AND SUCCESSFUL EFFORTS METHODS OF ACCOUNTING IN THE PETROLEUM INDUSTRY.VENT, GLENN ALLEN.; Foster, Taylor William (The University of Arizona., 1983)The primary purpose of this study is to develop a realistic model of an oil company which can be used to evaluate alternative systems of petroleum accounting. The model is used to simulate several accounting variables produced by the full cost and successful efforts methods of accounting. The simulated accounting variables are net operating income, net oil properties, operating expenses and return on investment. This study also evaluates the oil company models used in prior petroleum accounting research. There are currently two systems of petroleum accounting (full cost accounting and successful efforts accounting) that are generally accepted. The full cost method basically requires the capitalization of all exploration and development costs while the successful efforts method does not permit the capitalization of either geological survey costs or the costs of dry exploratory wells. A petroleum accounting model should satisfy three requirements. The model should incorporate all significant revenues and expenditures. The values of these revenues and expenditures should be realistic and the timing of the business transactions must be realistic. Earlier accounting studies employed deterministic and stochastic models which failed to satisfy one or more of the three requirements of a petroleum accounting model. Because there are many significant differences between these models and the oil companies which they claim to represent, the findings of these studies cannot be considered to be realistic. The model developed for this study represents the exploration, development and production activities of an oil company. Multinomial probability distributions are used to model exploratory drilling success. A binomial distribution is used to model development drilling success. Exponential decline curves are used to represent oil production. The model displays the type of behavior that is predicted by the economic theory of exhaustible resources and it satisfies the three modeling requirements stated previously.
Transition in the world primary copper industry, 1975-1990.Newcomb, Richard T.; Shelnutt, John Paul.; Newcomb, Richard T.; Rieber, Michael; Harris, DeVerle; Hiskey, Brent; Reynolds, Stanley (The University of Arizona., 1991)The competitive outlook for the U.S. copper industry was seriously questioned in the mid-1980's in light of differential wages, reserve bases, environmental enforcement, and comparable rates of technical dissemination among country producers. These concerns coincided with the displacement of U.S. output by Chilean expansion and ascendancy of the latter to the number one ranking of world producers. Explanations for U.S. competitive decline ranged from the availability of international agency credit lines for competing state-run copper producers to labor-management relations in the U.S. This dissertation examines the timing of Chilean emergence and U.S. response in relation to flexible exchange rates and monetary policy regimes of the 1980's. Previous analyses of world and North American market structure and change focused on market imperfections on the supply side or supply and stock influences in major demand centers. Earlier speculations about Chilean expansion have proved correct, but U.S. capacity displacement appears to be limited. This dissertation examines the effectiveness of earlier models when updated to the 1980's, redefines structure to achieve better fits, and tests the new model with simulations of quantity and price. World monetary policy, debt, and developing country trade policies have changed dramatically since the late 1970's. These changes together with earlier nationalization initiatives have injected significant new questions of commodity price translation and traded versus nontraded goods substitution into analyses of market behavior. The analysis developed and described in this research shows that real exchange rates of specified copper-producing countries are a significant factor in output expansion and market share gains under conditions of stable labor agreements and monetary policy. These components serve to explain how producer share gains such as for Chile were achieved during cyclical low price periods and historically high refined consumer stock conditions. Additional explanatory power is given for U.S. import and export activity in refined copper. Qualifications are given for selected producing countries that are experiencing continued output decline in the wake of Chilean-U.S. competition. The simulation results show an improvement in forecasting ability over previous models for selected country mine production, including Chile, and import-export activity for the U.S. Comparable high quality results are generated for copper price using standard model configuration. Significant errors remain, as in the overestimation of U.S. mine production recovery due to the lack of better measures of production and investment cycles in the primary copper industry. Downsizing of new or rebuilt U.S. capacity through technical shift is also not captured.