Social and Behavioral Sciences Commons^™

Examining International Stock Market Integration: Effects On Portfolio Statistical Moments, Changes To Systematic Risk Significance, And Investor Purchasing Of Foreign Equities, Justin Kingsley Hanig

Dissertations

The internet provides individuals with the ability to find instantaneous information on nearly every corner of the earth. Increasing correlations of international stock markets suggests investors may use information from different parts of the world to assess the value of the assets they hold in their portfolios. This dissertation examines changes in international stock market behavior to identify the effects of international market integration across a time. More specifically, this dissertation studies the effects of integration on the ability of diversification to reduce risk and skewness of portfolios, how global-wide risks significantly impact country-level index returns, and the equity purchasing …

Three Essays On Financial Constraints And Foreign Direct Investment, Todd Sarnstrom Ii

Dissertations

This three–essay dissertation makes contributions to the literature on foreign direct investment (FDI) and its relationship with collateral and the exchange rate. FDI refers to an investment made by a firm to establish or acquire a long–lasting interest in another firm operating outside its home country. Often, FDI involves substantial fixed costs that require the investing firm to seek external financing. Collateral has been identified as an important factor in the external financing of FDI. Firms lacking collateral are constrained in their ability obtain external financing. Exchange rates have also been identified as a factor in FDI. Exchange rate movements …

Three Essays Assessing Global Value Chain Fragmentation On International Trade Using The World Input-Output Database, Johanna Retana Attoh

Dissertations

The growing fragmentation of supply chains across countries have changed the way nations engage in international trade. Conventionally, studies have used data on exports to measure trade flows; however, the use of this type of data imposes many assumptions that might misrepresent the real world. For instance, the assumption that the supply chain of a product is confined in only the domestic country does not take into consideration the increasing number of foreign inputs needed to produce a final good. In this dissertation, I use the World Input-Output Database (WIOD), since this dataset allows one to track and decompose the …

Three Essays On Informal Payments In The Health Care Sector In Russia, Alexandra Polovinka

Dissertations

Health care is one of the most corrupt sectors in Russia. In 2015 twenty percent of patients paid a bribe for the health care services once or twice, and thirteen percent more than twice (Russian Public Opinion Research Center, 2015). Using data on adults from over 5,000 households in Russia, this three-essay study analyzes out-of-pocket formal (official) and informal (unofficial, bribes) payments for the health care.

In the first essay, I study whether there is a difference in the amount of unofficial pay-ments across five types of health care services (ambulance, inpatient, outpatient, dental, and medical checkups) and two types …

The Effect Of Maternal Employment On Child Obesity, Bezawit T. Agiro

International Journal of African Development

Abstract

Obesity has been a major concern for the United States and most other industrialized countries over the past few decades. More than one third of children and adolescents in the United States are obese or overweight. Child obesity is of particular interest because overweight children are more likely to be overweight as adults, and such adults are exposed to various diseases. During the same period that witnessed an increase in child obesity, an important change that occurred was the increase in maternal employment. This study is an attempt to analyze the relationship between maternal employment and child obesity. This …

International Trade Effects Of Regional Economic Integration In Africa: The Case Of The Southern African Development Community (Sadc), Mengesha Yayo, Sisay Asefa

International Journal of African Development

Empirical studies on regional economic integration process in Africa exhibit sluggish progress, and there by limited level of intra-trade. The existing literature in Africa, particularly in the Southern African regional integration bloc, has neglected the effects of regional economic integration dealing with disaggregated data. This study analyzes trade creation and diversion effects of the Southern African Development Community (SADC) using disaggregated data. The investigation estimates an augmented gravity model using panel data and random effect estimator methods applying instrumental variables where needed.

The results show that intra-SADC trade is growing in the fuel and minerals and the heavy manufacturing sectors …

Collapsing Microfinance Institutions In Ghana: An Account Of How Four Expanded And Imploded In The Ashanti Region, Festival Godwin Boateng, Stephen Nortey, Jonas Asamanin Barnie, Peter Dwumah, Martin Acheampong, Eunice Ackom-Sampene

International Journal of African Development

The study inquired into the collapse of four microfinance institutions (MFIs) in the Ashanti Region of Ghana. It was found that the collapses primarily were due to unduly risky, unethical and illegal practices, mismanagement and disregard for due diligence, compounded by external factors like macroeconomic instabilities and panic withdrawals, which then pushed the risk levels of the MFIs beyond the point of containment. The paper argues that the 2013 macroeconomic crisis in Ghana only contributed to the pervasiveness of the collapses – the crisis was not a root cause.

Current Situation Of Agricultural Trade: What Effects Does It Have On Food Security In Africa?, Ismaelline Eba Nguema

International Journal of African Development

The history of food policy in Africa started with the beginning of independence with the adoption of the strategy based on the planned development model. However, the financial and administrative planning requirements were felt quickly. By the early 80s, the debt crisis led African economies to abandon the policy of self-sufficiency and to adopt a so-called liberal agro-food strategy. In this context, food security based on external trade and its requirements became integral parts of structural adjustment programs. Thus, Africa took a stand before the rest of the world in the controlling of extraversion. Despite mixed results, in January 1995, …

Reducing Marginalization Of Fishermen Through Participatory Action Research In The Zambezi Valley, Zimbabwe, Bernard Manyena, Andrew E. Collins, Frank Mudimba, Danisa Mudimba

International Journal of African Development

Equitable sharing of fishing resources has been the major source of tension between Zambezi Valley communities and the Zimbabwe government authorities since the 1950s following the Kariba Dam-induced resettlement. Using participatory action research, it was found that the fishing license system and criminalization of fishermen were the major sources of tension between fishermen and government authorities. Engaging with government authorities to address these tensions, fishermen were recognized as partners in the fishing industry. The conclusion was that enhancing community agencies through participatory action research would be fundamental towards creating socially just and equitable arrangements that could emancipate marginalized communities from …

Editorial Note, Sisay Asefa

International Journal of African Development

No abstract provided.

International Journal Of African Development, Vol. 3, Issue 2

International Journal of African Development

Complete issue of International Journal of African Development, Volume 3, Issue 2 - Spring 2016.

Essays On Portfolio Choice And Risk Management, Yi-Chin Hsin

Dissertations

Globalization increases the access to financial markets and provides expanding opportunities for investors to diversify internationally. As suggested by the Modern Portfolio Theory (Markowiz, 1952), rational investors should use one of the following two strategies to achieve portfolio diversification: (1) Investing in asset classes thought to have low correlations or (2) increasing the sizes of their portfolios in multiple markets. In the early 1970s, diversification was referred to as the “free lunch” in investment. However, French and Poterba (1991) show that investors still tend to hold a disproportionate part of domestic equities in their portfolios. This phenomenon is called “the …

Three Essays On Finance, Agricultural Aid, And Development, James Squires

Dissertations

This work investigates several roles that financial development and agricultural aid have on economic development. In the first essay, I find that development of two of the major components of the financial sector—the banking sector and market sector—have a positive effect on incomes of the poor. In the second essay, I find a beneficial link between agricultural aid and agricultural productivity in that stable agricultural aid increases the Sharpe ratio for agricultural productivity. The third essay shows an agricultural productivity convergence across 140 countries. I do not find any evidence that agricultural aid has a supportive role in this convergence …

Ez Timeout: The Business Plan, Simbarashe Chirara

Honors Theses

No abstract provided.

High Performance Bayesian Applications In Medical, Economics And Climate Sciences, Ahmed Almulihi

Research and Creative Activities Poster Day

We apply high performance numerical integration to problems in Bayesian statistics. These are applied to data arising in the analysis of problems in such areas as medical statistics (birth weight data, heart transplant data, photocarcinogen data, radio therapy data), climate (global weather, tornado data), and general statistics applications (multivariate logistic distribution, multivariate normal, nonlinear regression). We compute Bayesian moment integrals using the ParInt integration software that runs efficiently on computer clusters. We compare our results to those in the literature and show excellent performance with respect to accuracy and execution time.

Do Parties Matter? A Political Model Of Monetary Policy In Open Economies, Hulya Unlusoy

Dissertations

In this doctoral dissertation, I present an original political model of monetary policy in open economies that reframes the Mundell-Fleming model when party politics and long-term interest rates are examined with the three economic variables (monetary policy autonomy, capital mobility, fixed exchange rate) that form the basis of the Mundell-Fleming model. The Mundell-Fleming model explains that there is no monetary policy autonomy in the short term under high capital mobility and a fixed exchange rate system. To see whether I arrive at a different conclusion than the Mundell-Fleming model, I pose the following two research questions: 1. What explains variations …

Werner Sichel Lecture Series History 1963-2016, Department Of Economics

Werner Sichel Lecture Series

Overview of the Werner Sichel Lecture Series Speakers from 1963-2016.

Immigration Policy Today 2016-17, Department Of Economics

Werner Sichel Lecture Series

All Lectures will be held in: 2028 Brown Hall from 12 to 1:15. All the lecture are free and open to the public. A light lunch reception will be available following each lecture. The 2016-17 Sichel Lecture Series is directed by Professor Susan Pozo and is co-sponsored by the Department of Economics, College of Arts and Sciences, WMU, and the W.E. Upjohn Institute for Employment Research. Speakers: Professor Steve Trejo "Socioeconomic Integration of U.S. Immigrant Groups Over the Long Term: The Second Generation and Beyond", Professor Hillel Rapoport "Tradable Refugee-Admission Quotas and Matching: Combining Physical and Financial Solidarity in Asylum …

Export Barriers And Competitiveness Of Small And Medium-Sized Enterprise In Developing Countries: Case Study In Ethiopian Leather Footwear Manufacturing Firms, Gebreyohannes Gebreslassie Gebrewahid

International Conference on African Development Archives

Export is one of the most important business activities that play a significant role for economic development of nations. Hence, this study aimed to investigate the export barriers and export competitiveness of the Ethiopian Leather Footwear manufacturing firms in particular and the industry in general. Purposively, 100 respondents were selected from 15 exporting firms in the leather industry. In addition, interview was held with some top managers and owners to collect more detail information. The survey data is analyzed using factor analysis and MDS techniques. Using factor analysis, 10 conceptually linked components were empirically identified. Both factor loadings and factor …

Increasing College Opportunity: School Counselors And Fafsa Completion, Laura Owen, Erik Westlund

Journal of College Access

Closing postsecondary opportunity gaps has become a national, state and local educational priority. To help eliminate these gaps, the US Department of Education initiated a project that provided real time student level Free Application for Federal Student Aid (FAFSA) completion status to large urban school districts. Leveraging this information, school counselors identified and supported students and families as they navigated the financial aid process, resulting in statistically significant impacts on FAFSA completion and college attendance.