Social and Behavioral Sciences Commons^™

The Emerging Impacts Of Tourism On The Economy Of The Kingdom Of Saudi Arabia: A Comparative Study Of Oil And Tourism, Dania Abu Jabal

Master's Theses

Saudi Arabia was heavily dependent on oil, which caused an economic crisis due to the collapse of global oil prices. In 2016, the Saudi government launched Vision 2030 to diversify the Saudi economy and avoid dependence on oil revenues. One aim of Vision 2030 is to initiate numerous tourism initiatives to boost the tourism industry's economic impact, elevating its contribution from 3% of GDP to 10% by 2030.

This paper provides the necessary assessment to understand tourism's role and contribution to the Saudi economy and to determine whether the industry's growth is on the right track. Also, this paper also …

Economics In Transition: Issues Applicable To Climate Change, Odysseus Bostick

Doctoral Dissertations

This dissertation presents three essays on topics that characterize the challenges of the energy transition. The first two focus on mitigating the worst impacts of climate change while the final hones in on adapting to climate change.

The first essay estimates willingness-to-pay (WTP) of electricity customers for rooftop solar within the Tennessee Valley Authority. Applying a conditional logit model, the probability of adoption rises with utility rates and emissions-reductions and declines with costs. Evidence of social contagion exists with adoption probabilities increasing 55 − 57% when respondents know someone with panels. WTP also rises. Comparing aggregated to regional WTPs confirms …

College Street Journal (December 2022), College Of The Holy Cross

College Street Journal

College Street Journal serves as a student platform for business-related news, opportunities and resources at Holy Cross. Readers will discover a broad range of important topics from relevant news and economic issues, career development opportunities and advice, as well as Ciocca center and campus-wide opportunities to grow outside of the classroom.

Highlights of this edition include the World Cup, holiday economics, update on Ukraine, credit, Bloomberg Terminals, carbon neutrality, alumni interviews, and a faculty editorial.

A Case Study: Socialism In Venezuela, Victoria Matlock

Helm's School of Government Conference - American Revival: Citizenship & Virtue

No abstract provided.

Governing Chinese Engagement With The Hydrocarbon-Rich Countries; Examining Chinese Investment In The Hydrocarbon Sector Of Canada And Russia, Anastasia Ufimtseva

Theses and Dissertations (Comprehensive)

China’s global quest for energy has been one of the most fascinating developments of the past twenty years. As Chinese state-owned enterprises (SOEs) have increasingly gone ‘global’ in search of energy resources, scholars have explored the rationale and implications of China’s investment abroad. However, existing studies have yet to examine the ability of Chinese SOEs to complete the intended investment projects. Several studies that have noted this gap suggest that researchers should examine the ability of Chinese SOEs to adapt to different institutional environments (Smith and D’Arcy 2013) and to analyze the responses of local stakeholders to Chinese SOEs’ engagement …

'Geaux Guard' And The Shift To The All-Volunteer Force: The Economics Of The Louisiana Army National Guard, 1973-1991, Titus L. Firmin

University of New Orleans Theses and Dissertations

After the Vietnam War, increased defense funds assigned to the Army National Guard stimulated and supported small communities in Louisiana. Recruits from economically depressed regions lined up to join the Guard because of the competitive pay and the generous education benefits it offered. In the mid-1980s, when a state budgetary shortfall threatened to limit the stream of federal funds and close local armories, communities in Louisiana rallied to keep the doors of their armories open. This paper examines how the readiness efforts of the Louisiana Army National Guard affected the economies of small communities as defense dollars increased following the …

Identifying Price Bubble Periods In The Energy Sector, Shahil Sharma, Diego Escobari

Economics and Finance Faculty Publications and Presentations

In this paper we test for the existence of single and multiple episodes of explosive behavior in three energy sector indices (crude oil, heating oil, and natural gas) and five energy sector spot prices (West Texas Intermediate (WTI), Brent, heating oil, natural gas, and jet fuel). The results from the Supremum Augmented Dickey-Fuller (SADF) and the Generalized SADF tests provide strong statistical evidence of explosive behavior in all of our energy series. A simple theoretical framework of commodity pricing allows us to understand the assumptions to interpret explosive behavior as bubbles. By constructing implied convenience yields using futures prices we …

The Impact Of Mnc Involvement On The Lives Of Workers In Developing Economies Of Latin America, Gabriel Moss

WWU Honors College Senior Projects

It is clear that multinational corporations (MNCs) have significant impact in the growth trajectory of developing countries. The nature of this relationship, however, is heavily debated. What is the downstream impact from MNCs on the lives of workers in developing countries? Are countries perversely incentivized to repress and exploit their unskilled labor forces to attract investment? Do multinationals promote better working conditions and raise standards of living for workers? In this essay, I argue that multinationals have the potential to bring massive benefits to the working class in developing countries. If the government of the host country develops strong linkage …

The Effects Of Oil Price Shocks On The Stock Market Returns In Developed Economies, Ian Zangrillo

Honors Theses

This paper examines the effects of oil price shocks on stock returns in OECD countries specifically Canada France Germany Japan United Kingdom United States and Norway. The empirical method used is the vector autoregression (VAR) model where a generalized impulse response function is applied to the results of the VAR to determine how stock prices respond to a shock in oil prices. The VAR model uses quarterly data for the period 1994 to 2016 for the following variables: interest rates real GDP real stock returns real UK Brent crude oil and APSP crude oil index. To take into account structural …

An Inquiry Into The Effect Of The 2014 Russian Sanctions On European Gasoline Markets, Eric S. Peters

Chancellor’s Honors Program Projects

No abstract provided.

Regulatory Uncertainty And The Natural Gas Industry In The Us, Jasper W. Clarkberg

Honors Papers

The United States is in the midst of a natural gas boom, but it’s unclear how long this high level of extraction is sustainable given the regulatory trajectory around carbon emissions and climate change. This paper examines how natural gas firms perceive regulatory uncertainty as measured by their capital expenditure. Using rig count data as a proxy for natural gas capital investment, I explore different ways to measure the perceived threat of state-level regulation and differing firm responses. I find strong evidence that regulatory uncertainty decreases the capital investments of firms, although I find that the effect of proposed regulation …

State-Led Industrial Development, Structural Transformation And Elite-Led Plunder: Angola (2002–2013) As A Developmental State, Jesse Salah Ovadia

Political Science Publications

From 2002-2013, Angola engaged in large-scale state-led reconstruction and development alongside an elite-led appropriation and seizure of national assets. Until the oil price shock, Angola had been succeeding in promoting rapid economic growth and possibly even significant social development alongside a massive grab of wealth and power by local elites. Today, though an economic crisis has taken hold, frequent predictions of the country’s immanent collapse have yet to be fulfilled. This paper reviews the state’s development planning and expenditure with a focus on public investment and industrial development to determine to what extent Angola during this period might have been …

Who Wins In An Energy Boom? Evidence From Wage Rates And Housing, Grant D. Jacobsen

Upjohn Institute Working Papers

This paper presents evidence on the distributional effects of energy extraction by examining the recent U.S. energy boom. The boom increased local wage rates in almost every major occupational category. The increase occurred regardless of whether the occupation experienced a corresponding change in employment, suggesting a more competitive labor market that benefited local workers. Local housing values and rental prices both increased, thereby benefiting landowners. For renters, the increase in prices was completely offset by a contemporaneous increase in income. The results indicate that bans on drilling have negative monetary consequences for a large share of local residents.

The Role Of The State, Multinational Oil Companies, International Law & The International Community: Intersection Of Human Rights & Environmental Degradation Climate Change In The 21st Century Caused By Traditional Extractive Practices, The Amazon Rainforest, Indigenous People And Universal Jurisdiction To Resolve The Accountability Issue, Marcela Cabrera Luna

Master's Theses

Local, national and international conventions that protect indigenous sovereignty and their territories, where many of the resources are extracted from by multinational corporations (MNCs) particularly oil, the number one commodity of the world and cause of climate change, continue to be jeopardized because of the lack of a clear international legal framework that can protect them and potentially hold multinationals accountable for their actions. These practices are causing not only environmental issues to the indigenous and surrounding communities, but climate change is in fact, the real human rights issue of the 21^st century and it affects everyone. By using …

Alternatives To Local Content, Abel A. Kinyondo, Ivar Kolstad

Abel Alfred Kinyondo

This paper suggests that an optimal local content policy in the context of flawed institutions is a more minimal one than those typically pursued by developing countries with recently discovered petroleum reserves. We argue that local content requirements need to be seen as a public expenditure question: such requirements increase multinationals’ costs and hence reduce the taxes that can be extracted from these companies. There are thus opportunity costs in imposing local content requirements, since the forgone taxes could be used in other ways to improve development prospects. Such requirements can also exacerbate key problems of patronage and rent-seeking.

Effects Of Natural Resource Abundance On Institutions: Which, Where And When?, Luisa Blanco, Jeffrey Nugent, Graham Veenstra

Luisa Blanco

Much research has gone into the effects of oil and other natural resources on growth in which political institutions are often seen as the link between the two. Since institutions are difficult to measure and change very slowly over time, the analysis has largely been confined to cross-country comparisons, most frequently investigating the effects on levels of democracy. This paper builds on recent analyses of the effects of oil endowments, prices and exports on democracy to examine the effects on several different types of institutional change, making use of panel data on over 100 countries between 1975 and 2005 wherever …

App Newsletter 3, Riccardo Pelizzo

Riccardo Pelizzo

third issue of the APP newsletter where we discuss the results of the Nigerian elections, the consequences of falling oil price, and the costs of instability

Net Asset Valuation Of Whiting Petroleum’S Acquisition Of Kodiak Oil And Gas, Alexander M. Beeker

Dissertations, Master's Theses and Master's Reports - Open

In July 2014, it was announced that Whiting Petroleum would acquire Kodiak Oil & Gas in an all-stock deal valued at $6 billion. Both companies are headquartered in Denver and operate primarily in the Bakken but in a deal of this size it is possible for executives to hold ulterior motives for mergers such as higher compensation and golden parachutes. Acceptable motivating factors for engaging in a merger include cost savings through synergies and economies of scale, increased market power, asset diversification, and price volatility. A net asset valuation was used to help determine if shareholders should vote in favor …

Do Oil Economies In Sub-Sahara Africa, Rebecca Girma

Dissertations and Theses

The African continent provides majority of the world’s raw material for technology and fine jewelry. Countries dependent on their extractive industries lag behind on developmental goals. Their GDPs are high as well as their national poverty levels. This paper explores the factors in which a nation lacks development when it is financially wealthy to do so. There are similar patterns in nations where resource curse has occurred. What is the key to sustainable development in Sub-Saharan Africa? Is solving corruption and migrating away from a market dependent on primary exports the answer? Can they transition from the ancient patrimonial state …

Oil, Corruption And Foreign Direct Investment, Luisa Melo, Michael A. Quinn

Economics Faculty Publications

This paper addresses how oil changes the corruption-foreign direct investment relationship. With the advantage of our panel data set, we are able to account for issues of endogeneity in the causality between foreign direct investment and corruption. We find that corruption has a negative impact on attracting foreign direct investment but this is mitigated based on the amount of oil the receiving country produces. Foreign direct investment inflows are found to reduce corruption in countries, but not if the receiving country is a major oil producer. Results show that poor countries without oil may be using institutional corruption to attract …

Cost Benefit Analysis Of The Keystone Xl Pipeline, Daniel Carr

Honors Theses

The Keystone XL pipeline is one of the most controversial topics in North America over the last five years. The debate is based on the trade‐off between Canadian oil sands as a usable energy resource and the environmental effects associated with the extraction and refining of the oil. The green house gasses emitted from the extraction and refining of oil sands produces several environmental concerns that make the proposed pipeline controversial. On the other hand, Canadian oil companies see a significant benefit from the ability of Canadian oil reaching international markets. TransCanada, a 79.99 percent owner of the pipeline, conducted …

A Form In The Road: U.S. Foreign Policy And The Path Toward Globalization In The Middle East, 1945-2014, Joshua P. Brotka

History Theses

This thesis examines the history of U.S. foreign policy in the Middle East since 1945. From the start of the Cold War immediately following the conclusion of WWII and up to the present day (2014), U.S. policy has been subject to many revisions and simultaneously, upheld national security measures. As the world heads toward an era where globalization is most prevalent, the United States will have to make drastic decisions regarding its foreign policy in the Middle East. Its alliance with Israel, oil interests, Islamic fundamentalism, an evolving Muslim society, and supporting a national security agenda has forced the United …

مجموعه تحلیلها و گفت وگوها با اقتصاددانان ایرانی خارج کشور در مورد بسته پیشنهادی دولت و بیماری هلندی, Mohammad Reza Farzanegan

Prof. Dr. Mohammad Reza Farzanegan

مجلد حاضر، مجموعه ای از تحلیلها و گفت وگوها با اقتصاددانان ایرانی خارج از کشور درباره بیماری هلندی و بسته پیشنهادی دولت برای خروج از رکود است. بخش اول مختص بیماری هلندی است که در خبرگزاری فارس و بخش دوم در مورد بسته پیشنهادی دولت در خبرگزاری تسنیم منتشر شده است. بخش سوم نیز مربوط به برخی مصاحبه های مفید است که در خبرگزاری تسنیم منتشر شده است. در مجموع حدود 32 مصاحبه و تحلیل در این مجموعه 120 صفحه ای قابل دسترس است.

Energy Independence In The Usa, Janice Ringler

Student Papers in Public Policy

During President Barack Obama’s first term and throughout the recent presidential campaign, there was much discussion about becoming energy-independent as a nation. Indeed, one of the most pressing issues facing the country today is our energy future. This is especially a concern in areas where mainstream energy sources (coal, gas, oil) do not exist, and thus must be imported. Many believe that this is a problem that communities and states are better suited to tackle than the federal government due to the flexibility and knowledge of state policy initiatives. In this brief I will propose a variety of measures that …

Seeking Peace In The Niger Delta: Oil, Natural Gas, And Other Vital Resources, Darren Kew, David L. Phillips

New England Journal of Public Policy

Nigeria’s oil-rich Niger Delta region has seen little benefit from the billions of dollars earned from oil over the last four decades, prompting a growing but disorganized insurgency across the region. Irresponsible oil companies and government officials have reduced the Niger Delta to one of the most polluted environments on earth. Corrupt local and national politicians, many of whom came to power through rigged elections, have colluded to manipulate ethnic divisions amid poverty to loot the region’s wealth. Consequently, the people of the Niger Delta have no formal political voice in Nigeria’s nascent democratic system, increasing the appeal of militias …

Effects Of Natural Resource Abundance On Institutions: Which, Where And When?, Luisa Blanco, Jeffrey Nugent, Graham Veenstra

School of Public Policy Working Papers

Much research has gone into the effects of oil and other natural resources on growth in which political institutions are often seen as the link between the two. Since institutions are difficult to measure and change very slowly over time, the analysis has largely been confined to cross-country comparisons, most frequently investigating the effects on levels of democracy. This paper builds on recent analyses of the effects of oil endowments, prices and exports on democracy to examine the effects on several different types of institutional change, making use of panel data on over 100 countries between 1975 and 2005 wherever …

Three Essays On Oil Scarcity, Global Warming And Energy Prices, Matthew Riddle

Open Access Dissertations

This dissertation is composed of three essays. In the first essay, I construct a supply and demand model for crude oil markets. I then fit the model to historical price and quantity data to be able to project future oil prices. Ex-post forecasts using this model predict historical price trends more accurately than most oil forecasting models. The second essay incorporates the supply and demand model from the previous paper into a complex systems model that also includes oil futures markets. Adaptive-agent investors in futures markets choose from a set of rules for predicting future prices that includes the rational …

Oil Price Pass-Through Into Inflation: Empirical Evidence From Nigeria, Adeniyi O. Adenuga, Margaret J. Hilili, Osaretin O. Evbuomwan

Economic and Financial Review

The objective of the paper is to empirically investigate the oil price pass-through into inflation in Nigeria in order to suggest appropriate domestic policies necessary to control inflation for the policy makers. The study also attempts to answer questions like: What is the causal links between oil price and inflation in Nigeria? Is oil price highly correlated with inflation? What does the result of an estimation of a Phillips curve tell us about the pass-through for oil in Nigeria. The methodology adopted by the paper is a standard pass-through equation in the form of an autoregressive distributed lag (ARDL) model …

A Knowledge Base For The World's Energy Rich Regions, Hodjat Ghadimi, Davina Bird

Regional Research Institute Working Papers

Energy rich regions (ERRs) play an important role in the world economy. A knowledge base of energy rich economies on a regional level provides a useful tool for comparative research of sustainable development in ERRs with an interdisciplinary perspective. The purpose of this knowledge base is to present a foundation for understanding the attributes and development processes of various ERRs and the collective role they play in the world’s energy, environment, and development debate. The construction of the ERR knowledge base is described, including the steps and data sources, structure, and process. Using two databases on oil and gas giant …

The Economic Impact Of Oil Price Shocks On Emerging Markets, Aanchal Kapoor

CMC Senior Theses

Recent spikes in oil prices have thrown light on how economic activity in emerging markets may be impacted by oil price shocks. This paper conducts an empirical analysis of the effect of oil price shocks on emerging markets. It tests for the existence of an asymmetrical relationship between oil prices and economic activity using a model developed by James Hamilton. It also assesses the impact of structural shocks to the real price of oil on output as proposed by Lutz Kilian. While our models find no consistent pattern within emerging markets, they do suggest that oil price shocks have a …