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 …

Property Rights And International Trade: An Institutional Determinant Of Export Structure, Gregory Alan Bonadies

Dissertations

This work investigates the connection, independent of other factors, between a country’s system of law and property rights and patterns of trade. Stronger property rights institutions are hypothesized to lead to greater diversity in exports and a greater proportion of higher value-added exports. Production and export possibilities depend on capital, labor, and technology. Technology is the way in which capital and labor resources can be organized for productive purposes. Property rights condition expressions of technology and thus production possibilities and export potential. Consequently, if property rights vary between countries, then technological expression, production possibilities, and export potential vary as well. …

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 …

Natural Disasters In Latin America: The Role Of Disaster Type And Productive Sector On The Urban-Rural Income Gap And Rural To Urban Migration, Madeline Alice Messick

Dissertations

This research provides insight into the impact of natural disasters as drivers of rural to urban migration in Latin America and the Caribbean (LAC). Disasters of varying types are predicted to have differing impacts on the productive sectors of agriculture, industry, and services; which due to the concentration of the various productive sectors in either urban or rural areas, subsequently changes the urban-rural wage differential. Changes to the wage differential (as measured by the urban-rural income gap) are predicted to lead to movement between urban and rural areas until a new equilibrium wage is reached.

This dissertation first identifies a …

The Influence Of The Electric Supply Industry On Economic Growth In Less Developed Countries, Edward Richard Bee

Dissertations

This study measures the impact that electrical outages have on manufacturing production in 135 less developed countries using stochastic frontier analysis and data from World Bank’s Investment Climate surveys. Outages of electricity, for firms with and without backup power sources, are the most frequently cited constraint on manufacturing growth in these surveys.

Outages are shown to reduce output below the production frontier by almost five percent in Africa and by a lower percentage in South Asia, Southeast Asia and the Middle East and North Africa. Production response to outages is quadratic in form. Outages also increase labor cost, reduce exports …

Remittances As Contributor To Risk Management And Poverty Reduction In Grenada, Dianne Jntl Rosemary Forte

Dissertations

A Small Island Development States (SIDS) viewpoint is underrepresented in the existing migration literature. That perspective is necessary because SIDS geography creates a unique set of social and economic circumstances that predisposes small states to high vulnerability to external shocks from environmental events and influences emigration decision making. Like other SIDS, Grenada is characterized by small land mass, small population, limited opportunities for productive labor, and limited resources to efficiently support all the requirements of modern institutions. This has resulted in high levels of emigration and a pattern of circularity as Grenadian households make rational decisions to manage risk and …

Preferential Trade Agreements And Quality Of Government In Sub-Saharan Africa, Sharon Camara

Dissertations

Objectives. Sub-Saharan African (SSA) nations have made concerted attempts at economic integration and openness with use of preferential trade agreements (PTAs) beginning in the latter half of the 1990s. These changes could result in increases in trade and growth. The World Bank’s Good Governance indicators are designed to assess the quality of institutions in a given country. The objective is to assess the impact of PTAs and Good Governance indicators on trade in SSA nations. Methods. Data on trade y was generated based on exports defined by the International Monetary Fund’s (IMF) Direction of Trade statistics, and both OLS and …