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Full-Text Articles in Business Law, Public Responsibility, and Ethics
Slavery Is Bad For Business: Analyzing The Impact Of Slavery On National Economies, Monti Narayan Datta, Kevin Bales
Slavery Is Bad For Business: Analyzing The Impact Of Slavery On National Economies, Monti Narayan Datta, Kevin Bales
Political Science Faculty Publications
This article, using a novel dataset, demonstrates that slavery is empirically bad for business. Building upon the work of Robert Smith, the authors analysis examines the relationship between the prevalence of slavery in a country (in terms of the proportion of the population enslaved) and several economic measures (the United Nations Human Development Index, growth domestic product in terms of purchasing power parity, access to financial services, and the Gini coefficient). In each instance, controlling for alternative explanations, greater levels of slavery are associated with a decline in economic growth and human development. The findings imply that beyond the morality …
The Effect Of Government Deficits On Consumption And Interest Rates: A Two Equation Approach, Dean D. Croushore
The Effect Of Government Deficits On Consumption And Interest Rates: A Two Equation Approach, Dean D. Croushore
Economics Faculty Publications
Single-equation estimation of the consumption function often is used in testing the Ricardian equivalence theorem. This approach may be misleading, as effects on interest rates usually are ignored. This paper proposes simultaneous estimation of consumption and investment equations, with the interest rate serving to equilibrate the market. Five existing studies are replicated and subjected to sensitivity tests. The results show that the interest rate is important in the consumption function. The Ricardian equivalence theorem is tested, but the results are mixed.