Month: November 2015

AE Impact Story: Relationship Between Imports and Production/Sales of Poultry Products

Aim of Project

The production of poultry meat is one of the largest areas of agriculture production in Barbados. In 2013, just over 13 million kilograms of chicken meat was produced, more than twice the amount of pork, beef, veal, mutton and turkey combined. The local chicken market is protected from significant competition from imported chicken since importing poultry is only permitted under special circumstances.

The goal of this project was to investigate the link between the imports of poultry, local production/sales and market prices.

What We Did

We employed a number of statistical techniques to investigate the relationship between poultry imports and various indicators of the performance of the domestic poultry industry. In addition to poultry imports, we also identified the other potential determinants of local production and sales of poultry.

The results of the analysis indicated that due to the relatively small amount of imports, there was little to no association between imports and domestic production/sales of poultry in Barbados. Instead, key supply-side determinants played a pivotal role, including the production of other meats and the price of poultry products.

Impact of Project

The results were used to help inform import and competition policies in the local poultry industry. 

Employing Metrics in HR Management

Human resources are considered vital to organisational strategy and a leading determinant of business success. However, finding organisations that measure and directly link their human resource investments to strategic goals is challenging. To overcome this challenge, talent management executives must speak the same language as other executives: numbers.

In this brief article, Anna Kay Seaton offers a brief glimpse into the current state of metrics usage in talent management. Ms. Seaton is the Lead Consultant, Coach and Trainer at People Engagement and Research Solutions, and has worked in talent management for seventeen years. She advises that to establish a commitment to utlising HR metrics within your organisation, HR professionals and other executives should establish priority areas for competitive advantage and align talent management strategies accordingly. HR metrics should then be designed to effectively track progress towards the organisation’s objectives.

Click here to read Employing Metrics in HR Management.

AE Impact Story: Modelling the Stability of the Barbadian Financial System

Aim of the Project

The financial system is one of the most important parts of an economy, governing all movements of capital between agents. It also provides useful indicators of the health of an economy and various groups such as government entities, private companies and individuals. Many observers of any economy will therefore pay close attention to developments that could affect the stability of the financial system.

Antilles Economics was engaged by an international body to develop a model of the financial system of Barbados and to conduct an analysis of its stability.

What We Did

This project required a number of modelling techniques, including both regression analysis and statistical analysis. The first step was to build a model that accurately captured the linkages between financial agents and the rest of the economy as well as between financial agents.

We then assessed whether various stakeholders in the economy were responding to legislative changes, economic developments, internal decisions or some combination of these.

Finally, we estimated the extent of the shock that would be required to cause the financial system to fail. We considered three types of shocks: those originating from outside of Barbados; those originating from within Barbados, but outside of the financial system; and, those originating from within the financial system itself.

Impact of the Project

The resulting model and analysis was used by our client to strengthen their surveillance of Barbados. It was also used to help our client determine what additional support it could provide to the Government of Barbados.