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Kennesaw State University

Economics

2010

Series

Articles 1 - 7 of 7

Full-Text Articles in Social and Behavioral Sciences

Turkey: Another $1 Trillion Emerging Economy?, Murat Doral Nov 2010

Turkey: Another $1 Trillion Emerging Economy?, Murat Doral

Faculty and Research Publications

The strategic location of Turkey makes it a very important country in terms of geopolitics as well as economics. Turkey is located at the crossroads of Europe, Asia, the Caucasus, and the Middle East. It is where East meets West without clashing with each other but merging with each other. Even though, industry, trade, and finance are all dominated by the expansive and crowded Istanbul, other cities and towns in Anatolia –the Anatolian Tigers- are industrializing rapidly and now participating in the global economy. Today, Turkey has the largest economy in the greater Middle East. Depending of the source, Turkey …

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Reducing Healthcare Costs Requires Good Market Design, Peter Cramton, Brett E. Katzman Oct 2010

Reducing Healthcare Costs Requires Good Market Design, Peter Cramton, Brett E. Katzman

Faculty and Research Publications

Healthcare costs are no doubt too high, and Congress has been pushing for 13 years to harness market forces in Medicare procurement. But despite all this time, we are on the precipice of adopting a very poor market design, according to Peter Cramton of University of Maryland and Brett Katzman of Kennesaw State University.

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Testing Conflicting Political Economy Theories: Full-Fledged Versus Partial-Scope Regional Trade Agreements, Xuepeng Liu Jul 2010

Testing Conflicting Political Economy Theories: Full-Fledged Versus Partial-Scope Regional Trade Agreements, Xuepeng Liu

Faculty and Research Publications

We apply a duration analysis to test the conflicting predictions of the median voter model and the lobbying model using panel data on regional trade agreement (RTA) formation. Our results show that the pro-labor prediction of the median voter model is supported by the full-fledged free trade areas and customs unions (FTAs/CUs), while the pro-capital prediction of the lobbying model is supported by the partial-scope preferential trade arrangements among developing countries. This finding holds better for the country pairs with more different capital-labor ratios as a result of the stronger distributional effects of RTAs. The support for the median voter …

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Does Ap Economics Improve Student Achievement?, Benjamin Scafidi, John Swinton, Chris Clark Apr 2010

Does Ap Economics Improve Student Achievement?, Benjamin Scafidi, John Swinton, Chris Clark

Faculty and Research Publications

We employ a cautious empirical approach to estimate the effect of taking Advanced Placement (AP) Economics in high school on student performance on a high-stakes, statewide End-of-Course Test (EOCT). Using data on all Georgia students who took economics from 2006 to 2008, we use propensity score matching to control for the selection of students into AP Economics. Our most conservative estimate makes an adjustment for teacher effects and suggests that students who take high school economics in an AP class score 0.283 standard deviations higher on the economics EOCT than “matched” students who are in high schools that do not …

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The Location Decisions Of Foreign Investors In China: Untangling The Effect Of Wages Using A Control Function Approach, Xuepeng Liu, Mary E. Lovely, Jan Ondrich Feb 2010

The Location Decisions Of Foreign Investors In China: Untangling The Effect Of Wages Using A Control Function Approach, Xuepeng Liu, Mary E. Lovely, Jan Ondrich

Faculty and Research Publications

There is almost no support for the proposition that capital is attracted to low wages from firm-level studies. We examine the location choices of 2,884 firms investing in China between 1993 and 1996 to offer two main contributions. First, we find that the location of labor-intensive activities is highly elastic to provincial wage differences. Generally, investors' wage sensitivity declines as the skill intensity of the industry increases. Second, we find that unobserved location-specific attributes exert a downward bias on estimated wage sensitivity. Using a control function approach, we estimate a downward bias of 50% to 90% in wage coefficients estimated …

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Licensing And Patent Protection, Aniruddha Bagchi, Arijit Mukherjee Jan 2010

Licensing And Patent Protection, Aniruddha Bagchi, Arijit Mukherjee

Faculty and Research Publications

We show the impact of technology licensing on optimal patent policy. Strong patent protection that eliminates imitation may not be the equilibrium outcome in the presence of licensing. Depending on the cost of innovation, licensing may either increase or reduce the strength of the patent protection.

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The Rise Of 144a Market For Convertible Debt, Ronging Huang, Gabriel G. Ramirez Jan 2010

The Rise Of 144a Market For Convertible Debt, Ronging Huang, Gabriel G. Ramirez

Faculty and Research Publications

We document and study the migration of convertible debt offerings from the public to the 144A market during 1991-2004. Over 88% of the 144A convertible debt issues are subsequently registered. An analysis of financing costs (gross spreads, yields, and stock price announcements) and issue characteristics indicates that convertible debt issues in these two markets are essentially the same. We find evidence that the 144A market allows firms to better time equity market conditions. Our findings are consistent with the hypothesis that the 144A market is attractive because it allows firms to issue convertible debt more quickly.

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