Social and Behavioral Sciences Commons^™

Essays On International Trade And Economic Growth, Mateo Hoyos

Doctoral Dissertations

In this dissertation I study the relationship between trade and economic growth, with a focus on developing economies. I specifically provide a critical review of the consensus view in trade and growth, according to which a liberal trade regime is generally the best policy stance to promote growth. In the first essay of this dissertation, I provide evidence that the relationship between trade policy and growth may depend on economic structure: tariff reductions are followed by higher levels of GDP per capita for manufacturer countries, but lower levels for nonmanufacturers. Testing for mechanisms, I find the heterogeneity seems to be …

Three Essays On Macroeconomics And Development, Guilherme Klein Martins

Doctoral Dissertations

This dissertation is a collection of essays that relate, in different forms, macroeconomic policies to economic development. Essay 1 provides evidence that austerity shocks have longrun negative effects on GDP. Besides addressing the important gap in the growing fiscal research regarding the short time horizon of the estimations, the paper analyzes two other important assumptions made in the literature regarding the (i) symmetry of episodes of fiscal expansion and contraction and (ii) uniformity of fiscal multipliers for different sizes of shocks. We use narrative fiscal shocks and propensity score reweighting in a local projections setup to account for the potential …

Three Essays On The Political Economy Of The Cfa Franc, Francis Perez

Doctoral Dissertations

This dissertation is organized into three essays. The second essay provides a historical overview of the CFA franc and explores why the CFA franc has survived for so long. It argues that a historical and dialectical materialist analysis of the CFA’s history can best explain both its extraordinary longevity and the periodic major reforms to its functioning. The third essay assesses whether the Central Bank of West African States (BCEAO) has an independent monetary policy by examining the relationships between BCEAO’s foreign reserves and base money, and between BCEAO and the European Central Banks’s policy rates. The fourth essay evaluates …

Four Essays On Peace Consolidation And Ethnic Reconciliation In Postwar Sri Lanka, Narayani Sritharan

Doctoral Dissertations

In four essays, this dissertation explores the process of peace consolidation and economic recovery from the devastating conflict of 1983-2009 in Sri Lanka. This dissertation addresses a timely and important topic. The findings make an important contribution to the literature on economic development and peacebuilding, specifically on the role of foreign aid in alleviating the risks of conflict and helping countries rebuild their economies after conflict. The dissertation highlights important political economy dimensions that help illustrate social and political dynamics that lead to conflict, such as regional and ethnic inequalities, which also influence post-conflict reconstruction. In addition to a historical …

Employer Power: Consequences For Wages, Inequality And Spillovers, Ihsaan Bassier

Doctoral Dissertations

In several countries, wages have stagnated and union membership declined, even as productivity has increased. The established view of employers helpless to the labor market's invisible hand has increasingly come under question. Attention has turned towards the power of employers to set wages; yet only recently have the data required to investigate this – observing workers at their employers – become available, and then mostly in richer countries. My first chapter, “Monopsony in Movers” (co-authored with Arindrajit Dube and Suresh Naidu), proposes a new credible estimation strategy to measure employer monopsony power. We build on the idea that employers with …

Three Essays On Public Policy And Welfare In Developing Countries, Alvaro Jeronimo Callejas

Doctoral Dissertations

Developing countries typically implement public policies that modify the market structure to reach a specific goal. However, in this attempt to achieve a policy objective, policymakers may not consider unintended consequences caused by firms' and consumers' optimizing behavior. Moreover, the reaction of market agents to the implemented policy may undermind its effectiveness or lead to an outcome opposite to the one persuaded. This dissertation uses a set of structural models to assess the welfare effect of both intended and unintended consequences of public policies introduced in developing countries. In the first chapter, we evaluate the welfare implications of a public …

Three Essays On Growth And Distribution In Dual Economies, Adam Aboobaker

Doctoral Dissertations

This dissertation is composed of three essays on growth and distribution in dual economies. The first of the essays explores short run implications of the relationship between hierarchical consumption preferences, redistribution, and structural change for the robustness of conclusions from neo-Kaleckian models. Integrating class-based heterogeneity to consumption patterns, inspired by notions of a hierarchy of wants, into a dual-sector model of a semi-industrialized economy generates qualitatively distinct results from those that typically follow from contemporary Kaleckian models, even when retaining the core features of the latter class of models. The results depend on the shock to income distribution emphasized and …

The State-Constituted Market Economy: A Conceptual Framework For China’S State–Market Relations, Isabella Weber, Hao Qi

Economics Department Working Paper Series

Scholars increasingly conclude that China has created a distinct economic system. Yet despite a growing literature with valuable contributions on the institutional arrangements under ‘capitalism with Chinese characteristics’, the economic mechanisms underpinning China’s state–market relations remain undertheorised. In this paper we develop a conceptual framework of what we call China’s state-constituted market economy. We argue that the Chinese state ‘constitutes’ the market economy by not only creating new markets through industrial and innovation policies, but by continuously participating and steering markets for essentials in order to stabilise and guide the economy as a whole. Essential is thereby defined as ‘systemically …

Inconsistent Definitions Of Gdp: Implications For Estimates Of Decoupling, Gregor Semieniuk

Economics Department Working Paper Series

Efforts to assess the possibilities for decoupling economic growth from negative environmental impacts have examined their historical relationship, with varying and inconclusive results. Part of the problem is ambiguity about definitions of environmental impacts, e.g. whether to use territorial or consumption-based measures of environmental impact. This paper shows that ambiguities arising from definitional changes to GDP are sufficiently large to affect the outcomes. I review the history of structural revisions to GDP using the example of the United States, and on international comparisons of purchasing power parity, compare decoupling results using various historical definitions of GDP on the same environmental …

Systemic Cycles Of Accumulation And Chaos In The World Capitalist System: A Missing Link, Giorgos Galanis, Christian Koutny, Isabella Weber

Economics Department Working Paper Series

We re-examine the Systemic Cycles of Accumulation (SCA) of Arrighi (2010) and Arrighi and Silver (1999) which provide a framework for the analysis of the cyclical patterns of geographical expansion of trade and production and the related shifts of hegemonic power within the world capitalist system. Within the SCA framework, the last stage of a hegemonic cycle is characterized by what is called ‘systemic chaos’, however the drivers of these chaotic dynamics have not been explicitly analyzed. This article fills this gap by providing a link between the accumulation process, the spatio-temporal fix, and systemic chaos, in three steps. First, …

To Reform And To Procure: An Analysis Of The Role Of The State And The Market In Indian Agriculture, Kartik Misra, Deepankar Basu

Economics Department Working Paper Series

Since the early 2000s, many Indian states started reforming their agricultural marketing policies and allowed private traders to buy directly from farmers outside the state-regulated market system. The experience of these states during the period 2000 - 2012 can shed light on the impact of market-oriented reforms and the role of public procurement. Using individual-level National Sample Survey Data on agricultural wages and a new dataset on state-level average real farm income per cultivator for 18 major Indian states between 1987 – 2012, this paper shows, using both a difference-in-difference and a triple difference framework, that marketing reforms alone did …

Capital Nationality And Economic Development, Guilherme Klein Martins

Economics Department Working Paper Series

This paper reviews different literature strands and performs an empirical test to evaluate how capital ownership, particularly its nationality, might affect long-run economic develop- ment. Our results indicate that low and middle-income countries with larger foreign capital stock in 1980 had lower economic growth over the next 39 years. The estimations also indi- cate that these economies developed a less specialized export basket, which became relatively more concentrated in low-tech goods. The results are inverted to high-income economies, for which the effects are positive on GDP growth and export specialization and complexi- fication. The results are in line with the …

An Empirical Investigation Of Real Farm Incomes Across Indian States Between 1987-88 And 2011-12, Deepankar Basu, Kartik Misra

Economics Department Working Paper Series

Using unit-level data from various rounds of the Employment and Unemployment Survey of the National Sample Survey Organisation, we present the first consistent time series of average real farm income per cultivator for 18 major Indian states for 1987-88, 1993-94, 1999-00, 2004-05, 2007-08, 2009-10, and 2011-12. Using this data, we study two sets of issues. First, how did real farm income evolve across these 18 Indian states? Which states have high levels and growth rates of real farm incomes? Is there any evidence for convergence of real farm incomes across Indian states? We find evidence for unconditional convergence, which suggests …

Post-Conflict Recovery Or Conflict Recurrence: A Comparative Analysis Of Economics, Colonial Histories, And Natural Resource Mining In Burkina Faso And Togo, Izabela Frechette

Masters Theses

Directed by: Professor Meredith Rolfe

What are the factors that contribute to peace after civil conflict? What are the factors that contribute to conflict recurrence after civil conflict? In this comparative analysis, Burkina Faso’s military coup in 1988 and Togo’s military coup from 1987-1990 provide two most similar cases that allow for a better understanding of what leads to peace or conflict recurrence. Colonial histories, economics, and natural resource mining are three major factors present in this comparative case analysis that explain why Burkina Faso’s conflict has ended with peace while Togo’s conflict has recurred.

Through a colonial history analysis, …

Three Essays On Learning And Conflict Applied To Developing Countries, Amal Ahmad

Doctoral Dissertations

This dissertation uses microeconomics to study questions of learning and conflict in developing countries. The first essay studies how much rural producers in developing countries can learn from their own experience to redress important information gaps about their crop. It builds a theoretical model of learning from experience and applies it using a rich dataset on cotton farmers in Pakistan. I test whether farmers learn from cultivation experience about the pest resistance of their seeds and use this information to improve selection and productivity. I find no such learning effect and this conclusion is robust to several parameters that could …

Three Essays On Socio-Institutional Ecosystems & Labor Structures, Jonathan Donald Jenner

Doctoral Dissertations

In three essays, this dissertation explores the relationship between the social and the economic, with an eye to how social and institutional formations affect economic outcomes. In the first essay, I construct a theoretical base by developing the metaphor of ‘ecosystem’ as a frame for thinking of the various interrelations between social processes and economic phenomena – the socio-institutional ecosystem analysis. In invoking ecosystem as a central metaphor, this dissertation calls into focus the interaction between the economic and the non-economic, recognizing the multiplicity of causal inter- and intra-relationships between the two. I deploy this analysis in two substantive case …

The (Im-)Possibility Of Rational Socialism: Mises In China’S Market Reform Debate, Isabella M. Weber

Economics Department Working Paper Series

This paper investigates the long first decade of reform in China (1978-1992) to show that Mises, in particular his initiating contribution to the Socialist Calculation Debate, became relevant to the reconfiguration of China’s political economy when the reformers gave up on the late Maoist primacy of continuous revolution and adhered instead to an imperative of development and catching up. During the Cultural Revolution, Mao had rejected the notions of efficiency and rational economic management. In the late 1970s, the reformers under Deng Xiaoping’s leadership elevated these notions to highest principle. As a result, Mises’ critique that socialism could not achieve …

The Nature Of Money And The Theory Of International Trade: Thornton And Ricardo, Isabella M. Weber

Economics Department Working Paper Series

A rich recent literature reinvestigates the nature of money, but little attention has been paid to the ramifications of the ways in which we theorize money for the theory of international trade. This paper examines the logical relationship between the neutrality of money and self-balancing trade based on Henry Thornton and David Ricardo as two foundational contributions to credit and commodity money theories respectively. I show that both authors theorize trade as self-balancing whenever money is conceptualized as neutral. I distinguish two notions of the neutrality of money: ex ante and ex post neutrality. In Thornton’s Paper Credit money is …

China’S Ancient Principles Of Price Regulation Through Market Participation: The Guanzi From A Comparative Perspective, Isabella Weber

Economics Department Working Paper Series

The History of Economic Thought as a field has long taken it as a premise that so far as ancient economic thought is concerned, only the Greeks and Romans are worth studying. This paper introduces the Guanzi as a core text in ancient Chinese economic thought on price stabilization from a comparative perspective with ancient Greek contributions. The Guanzi presents a framework for the empirical analysis of market fluctuations and price movements and derives principles of economic governance from this analysis. In contrast Plato and Aristotle come to the question of price determination from the angle of moral philosophy. They …

Shooting For An Economic “Miracle”: German Post-War Neoliberal Thought In China’S Market Reform Debate, Isabella M. Weber

Economics Department Working Paper Series

This paper develops a comparative and connected history of the debates over transition to a market economy in West-Germany after World War II and in China during the first decade of reform and opening up under Deng Xiaoping (1978-1988). At both historical moments the political aim was to reintroduce market mechanisms into a dysfunctional command economy. The question what kind of price reform this required was subject to heated debates among economists. This paper shows how the West-German 1948 currency and price reform was introduced into the Chinese reform debate by German ordoliberals and neoliberals like Friedman. It traces how …

Essays On Women And Work In India And On Other-Regarding Preferences, Sai Madhurika Mamunuru

Doctoral Dissertations

This dissertation is a collection of three essays. In Essay I, I explore declining female workforce participation in India and propose the following explanation: Traditionally, Brahmin (upper caste) women were more secluded and did not work outside the house, while non-Brahmin, often poorer, women did. With increased income, non-Brahmin families withdraw women from the workforce in order to signal their enhanced social status. This is a part of a larger process of cultural emulation referred to as the Sanskritization of non-Brahmin families. Using a nationally representative panel dataset, I show, in favor of this hypothesis, that while Brahmin women’s participation …

Three Essays On Political Economy Of Uneven Development: Space, Class And State In Pakistan, Danish Khan

Doctoral Dissertations

This dissertation delineates the underlying dynamics of the political economy of uneven development by focusing on the dynamic interaction between socially produced space, class and the state in the context of postcolonial capitalism in Pakistan. The first essay (chapter two) focuses on the political economy of urban slums in the context of a postcolonial city of Islamabad, Pakistan. It presents a new conceptual framework of ‘expulsionary development’ to illustrate that the growth of slums and high-end gated housing enclaves are two sides of the same coin at the urban scale. Dispossession and urban sprawl are the underlying factors which mediate …

Boxborough Economic Development Study: Phase 2, Technical Memo, Henry Renski, John Mullin, Camille Barchers

Center for Economic Development Technical Reports

The Town of Boxborough’s Economic Development Committee (EDC) contracted with the Center for Economic Development at the University of Massachusetts Amherst to produce an economic development study. Phase II began in January of 2020 and provides a deeper evaluation of the development scenarios proposed at the completion of Phase I, involving four key components: 1. Summarize the results from a survey of citizen preferences on the Phase I scenarios. 2. Produce a series of "vignettes" to explain the key elements of the different scenarios to the public. 3. Assess the potential market demand for specific office, retail, and other commercial …

The Political Economy Of Accumulation In South Africa: Resource Extraction, Financialization, And Capital Flight As Barriers To Investment And Employment Growth, Seeraj Mohamed

Doctoral Dissertations

This dissertation uses a heterodox economics approach to explain poor levels of accumulation in South Africa. This approach to investment theory and models recognizes that many institutions are shaped to help people create stability in a world of fundamental uncertainty and irreversibility. Therefore, this dissertation examines the system of accumulation that developed in South Africa and its evolution. This approach to investment recognizes that beliefs and biases of people running institutions influence investment outcomes and shape ‘path dependence’. The corporations that grew to dominate the South African economy were formed during colonialism and apartheid. They grew around a core of …

Revisiting The East Asian Miracle: Labor Regimes, Profitability And Accumulation, Zhongjin Li

Doctoral Dissertations

This dissertation project revisits the widely-acclaimed East Asian miracle from a political economy perspective focusing on class dynamics and profit regimes. After reviewing the historically comparative context of East Asian development, and the economic literature before and after the 1997 crisis, I provide an alternative analytical framework to the dominant market-oriented versus state-interventionist approaches in exploring the long-term trajectories of transformation in the East Asian regimes of capital accumulation. More specifically, my dissertation focuses on two analytical questions in the East Asian development context: the transformation of labor regimes and the evolving class dynamics, and the dynamics of profit rates …

Boxborough Economic Development Study: Phase 1, Technical Memo, Camille Barchers

Center for Economic Development Technical Reports

The Town of Boxborough’s Economic Development Committee (EDC) contracted with the Center for Economic Development at the University of Massachusetts Amherst to produce an economic development study. Phase 1 of the study, conducted from September through December 2019 by Regional Planning Studio master’s students, began with an investigation of existing conditions and public opinion on economic development and concluded with four plausible future economic development scenarios designed to support the eventual creation of the Town’s long-term economic development plan.

Innovation Districts As A Strategy For Urban Economic Development: A Comparison Of Four Cases, Joshua Drucker, Carla Maria Kayanan, Henry Renski

Center for Economic Development Technical Reports

Innovation districts are a relatively new strategy in urban economic development. They have been fast gaining attention and popularity, due in part to energetic third-party promotion and the apparent successes of two early adopters: Barcelona and Boston. As additional cities establish and promote innovation districts, it benefits policymakers to possess information regarding their characteristics and suitability as an economic development approach.

We conduct in-depth case studies of four innovation districts in the United States—located in Boston, Detroit, Saint Louis, and San Diego—that present contrasting settings, policies, and outcomes. The empirical information is drawn primarily from interviews with the innovation district …

Towards A Passenger Station On The East-West Massachusetts Train Line - The Case For Palmer, University Of Massachusetts Amherst Center For Economic Development, Umass Design Center

Center for Economic Development Technical Reports

The purpose of this report is to examine the feasibility of the Town of Palmer becoming a passenger stop on a proposed East-West rail line that would connect to Union Station in Springfield and South Station in Boston. The report is presented in two parts. Part one presents the primary reasons that would make the case for a stop being placed in Palmer. The second presents a series of case studies to stimulate ideas on how Palmer could promote further growth through the creation of transit oriented development (TOD) around any future stop.

The findings in this report are based …

Stumbling Toward The Up Escalator: How Trends In International Trade, Investment, And Finance Have Complicated Latin America’S Quest For Sustainable, Diversified Economic Development, Mary Eliza Rebecca Ray

Doctoral Dissertations

This dissertation explores economic, environmental, and social aspects of Latin America and the Caribbean’s (LAC’s) halting steps away from commodity dependence (the “down escalator” envisioned by Hans Singer). It focuses on the most recent commodity boom (2003-2013), during which the region shifted back toward primary commodity production under a new policy framework aimed at limiting the environmental and social costs of this production while more broadly sharing its benefits through infrastructure, social spending, and closer oversight of foreign investors. This dissertation’s three essays focus on three international flows: trade, development finance, and investment. The first essay weighs the environmental impact …

Economic Impact Of Cruise Tourism In Atlantic Canada: Is Cruise Passenger Spending Exaggerated?, Brian Van Blarcom, Burc Kayahan Mr, Klein Ross Dr

TTRA Canada 2018 Conference

ECONOMIC IMPACT OF CRUISE TOURISM IN ATLANTIC CANADA

IS CRUISE PASSENGER SPENDING EXAGGERATED?

Introduction

Cruise tourism is of increasing importance in Atlantic Canada. Average annual growth during the 1990-2015 period in Halifax was 9.24% (Transport Canada, 2016). Total cruise ship visitors to Halifax has grown tenfold over the last two decades, from approximately 24,000 in 1990 to 238,217 in 2015 (Transport Canada, 2016). The number of cruise ship visitors to Newfoundland & Labrador increased from 10,000 in 2000 to 50,000 in 2015. The growth of cruise tourism in the last decades is accompanied by the expected growth of benefits for …