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2003

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Full-Text Articles in Social and Behavioral Sciences

Legislative-Executive Relations And The Budgetary Process In Nigeria: An Evaluation Of The 1999 Constitution., S.C. Rapu Dec 2003

Legislative-Executive Relations And The Budgetary Process In Nigeria: An Evaluation Of The 1999 Constitution., S.C. Rapu

CBN Occasional Papers

Since the transition to civilian rule in May 29, 1999, the country has witnessed conflicts between the legislature and the executive over budget matters. These conflicts are not only restricted to the federal level but also a common phenomenon at the state government level. This paper discussed the poor relationship over the budget matters and made suggestions on how to improve the process. The paper surveyed the literature on the legal framework of the budgetary process in several countries. Thereafter, the paper examined the legal framework for the budgetary process in Nigeria as well as the issues involved. The paper …

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The Agricultural Leases Of Choice In South Dakota, John Cole, Larry Janssen Dec 2003

The Agricultural Leases Of Choice In South Dakota, John Cole, Larry Janssen

Economics Commentator

No abstract provided.

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Iraq Contracts Policy Bolsters Terrorist Agenda, Thierry Warin Dec 2003

Iraq Contracts Policy Bolsters Terrorist Agenda, Thierry Warin

Thierry Warin

Paul Wolfowitz, the US deputy secretary of defence, announced on December 9 a list of 63 countries allowed to bid on Iraq reconstruction contracts. A backlash is now in evidence: Germany, France and Russia will be excluded.

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The Agent Institute: Develop An Infrastructure For Agent-Based Research And Development For The State Of Maine, George Markowsky, James L. Fastook, Elise Turner, Roy M. Turner, Laurence Latour Dec 2003

The Agent Institute: Develop An Infrastructure For Agent-Based Research And Development For The State Of Maine, George Markowsky, James L. Fastook, Elise Turner, Roy M. Turner, Laurence Latour

University of Maine Office of Research Administration: Grant Reports

This award provides support to establish The Agent Institute (AI), an organization anticipated to become self-sustaining and generally enhance research and development for the State of Maine. The AI will promote interactions between industry and foster computer-technology research, specifically in software development and software-hardware relationships in the area of robotics. Industrial applications in extreme or hazardous environments will be emphasized because agent-based systems are designed to read/sense environmental information, make decisions, and take actions based on the information sensed and processed.

The award provides an initial two years of salary support to hire an executive director and an administrative assistant. …

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Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado Dec 2003

Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado

José-Manuel Martin Coronado

This research aims to prove that sound economic policies are nothing more that basic conditions for the foreign public debt problem. In fact, by studying the factors of public debt issues in Peru, Latin America and the emerging economies it’s clear that some implicit economic and non-economic factors have to be considered because of the social complexity and variable characteristics in emerging economies. This causes failures in economic policies assumptions, inefficiencies, distorted causality and nonrational behavior. This paper proposes, first, to perform a deep and comparative analysis of the foreign debt determinants in emerging economies, then, to allocate financial resources, …

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Farm Sector Recovery Following The 2002 Drought, Matthew A. Diersen Dec 2003

Farm Sector Recovery Following The 2002 Drought, Matthew A. Diersen

Economics Commentator

No abstract provided.

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Improving Economic Literacy: The Role Of Concurrent Enrollment Programs, Jerry M. Eversky, Donald H. Dutowsky, Gerald S. Edmonds Dec 2003

Improving Economic Literacy: The Role Of Concurrent Enrollment Programs, Jerry M. Eversky, Donald H. Dutowsky, Gerald S. Edmonds

Jerry Evensky

This paper introduces Concurrent Enrollment Programs (CEPs), within the context of Syracuse University Project Advance (PA) Economics, as a way to improve economic literacy. We describe measures implemented to operate PA Economics as a high-quality CEP, as well as the National Alliance of Concurrent Education Partnerships to establish national standards. This study also contains results from administering to high school students taking PA Economics the nationally normed Test of Economic Literacy (TEL). PA students average nearly one percentage point higher than the AP/Honors Economics Group, and score considerably better than AP/Honors Economics in fundamentals and international economics. By cognitive level, …

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Improving Economic Literacy: The Role Of Concurrent Enrollment Programs, Donald H. Dutowsky, Jerry M. Evensky, Gerald S. Edmonds Dec 2003

Improving Economic Literacy: The Role Of Concurrent Enrollment Programs, Donald H. Dutowsky, Jerry M. Evensky, Gerald S. Edmonds

Economics - All Scholarship

This paper introduces Concurrent Enrollment Programs (CEPs), within the context of Syracuse University Project Advance (PA) Economics, as a way to improve economic literacy. We describe measures implemented to operate PA Economics as a high-quality CEP, as well as the National Alliance of Concurrent Education Partnerships to establish national standards. This study also contains results from administering to high school students taking PA Economics the nationally normed Test of Economic Literacy (TEL). PA students average nearly one percentage point higher than the AP/Honors Economics Group, and score considerably better than AP/Honors Economics in fundamentals and international economics. By cognitive level, …

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Welcome Address: The New Partnership For Africa's Development: An African Renaissance?, A. O. Agholor Dec 2003

Welcome Address: The New Partnership For Africa's Development: An African Renaissance?, A. O. Agholor

Economic and Financial Review

This is a Welcome Address by Mr. A. O. Agholor, Branch Controller, CBN Benin Branch to participants at the In- House Seminar Themed: " The new Partnership for Africa's Development: an African renaissance?" for CBN Executive Staff, Asaba, October 20 - 24, 2003.

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Keynote Address: The New Partnership For Africa's Development: An African Renaissance?, Ernest C. Ebi Dec 2003

Keynote Address: The New Partnership For Africa's Development: An African Renaissance?, Ernest C. Ebi

Economic and Financial Review

This is a Keynote Address by Mr. Ernest Ebi, Deputy Governor. (Policy) Central Bank of Nigeria to participants at the In- House Seminar Themed: " The new Partnership for Africa's Development: an African renaissance?" for CBN Executive Staff, Asaba, October 20 - 24, 2003.

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Opening Address: The New Partnership For Africa's Development: An African Renaissance?, M Okunfolami Dec 2003

Opening Address: The New Partnership For Africa's Development: An African Renaissance?, M Okunfolami

Economic and Financial Review

This is an Opening Address by Mr. M Okunfolami, Director, Human Resources Department, Central Bank of Nigeria to participants at the In- House Seminar Themed: " The new Partnership for Africa's Development: an African renaissance?" for CBN Executive Staff, Asaba, October 20 - 24, 2003.

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Special Remarks: The New Partnership For Africa's Development: An African Renaissance?, O. J. Nnanna Dec 2003

Special Remarks: The New Partnership For Africa's Development: An African Renaissance?, O. J. Nnanna

Economic and Financial Review

This is a special remark by Dr. O. J. Nnanna Director of Research, Central Bank of Nigeria, to participants at the In- House Seminar Themed: " The new Partnership for Africa's Development: an African renaissance?" for CBN Executive Staff, Asaba, October 20 - 24, 2003.

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The Economic Incidence Of Smoking Laws, John Dunham, Michael L. Marlow Dec 2003

The Economic Incidence Of Smoking Laws, John Dunham, Michael L. Marlow

Economics

Although laws restricting smoking in restaurants are becoming commonplace, most research has focused on either the health benefits that laws may provide customers and workers or whether laws harm owners. But while smoking laws may directly alter profits, owners may alter prices, output, and other business attributes in ways that affect the welfare of customers and workers. This study examines whether restaurant and bar owners alter prices, entertainment, hours of operation and other business attributes in response to local smoking laws. Substantial support is found for these attribute changes in the Wisconsin hospitality industry. One implication is that an overall …

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Likelihood-Based Specification Analysis Of Continuous-Time Models Of The Short-Term Interest Rate, Garland B. Durham Dec 2003

Likelihood-Based Specification Analysis Of Continuous-Time Models Of The Short-Term Interest Rate, Garland B. Durham

Finance

An extensive collection of continuous-time models of the short-term interest rate is evaluated over data sets that have appeared previously in the literature. The analysis, which uses the simulated maximum likelihood procedure proposed by Durham and Gallant (2002), provides new insights regarding several previously unresolved questions. For single factor models, I find that the volatility, not the drift, is the critical component in model specification. Allowing for additional flexibility beyond a constant term in the drift provides negligible benefit. While constant drift would appear to imply that the short rate is nonstationary, in fact, stationarity is volatility-induced. The simple constant …

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Wright State University Regional Economic Report, December 2003, Thomas L. Traynor Dec 2003

Wright State University Regional Economic Report, December 2003, Thomas L. Traynor

Economics Faculty Publications

No abstract provided.

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Measurement Of The Ocean And Coastal Economy: Theory And Methods, Charles S. Colgan Dec 2003

Measurement Of The Ocean And Coastal Economy: Theory And Methods, Charles S. Colgan

Publications

This paper supplements reports and data released on the coastal and ocean economy of the United States by the National Ocean Economics Project. It provides a discussion of the relevant literature involved in the investigation of the ocean and coastal related economy, the theoretical background of measures such as gross domestic and gross state product, and provides details on sources, methods, assumptions, and limitations of the data provided by NOEP.

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The Camel's Nose Is In The Tent: Rules, Theories And Slippery Slopes, Mario Rizzo, Glen Whitman Dec 2003

The Camel's Nose Is In The Tent: Rules, Theories And Slippery Slopes, Mario Rizzo, Glen Whitman

Mario Rizzo

The authors provide a general theory for understanding and evaluating slippery slope arguments (SSAs) and their associated slippery slope events (SSEs). The central feature of the theory is a structure of discussion within which all arguments take place. The structure is multi-layered, consisting of decisions, rules, theories,and research programs. Each layer influences and shapes the layer beneath: rules influences decisions, theories influence the choice of rules, and research programs influence the choice of theories. In this structure, SSAs take the form of meta-arguments, as they purport to predict the future development of arguments in this structure. Evaluating such arguments requires …

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Estimating Auction Revenues For The Proposed Fcc Sale Of 3g Spectrum For Broadband And Advanced Wireless Services, Peter Cramton Dec 2003

Estimating Auction Revenues For The Proposed Fcc Sale Of 3g Spectrum For Broadband And Advanced Wireless Services, Peter Cramton

Peter Cramton

No abstract provided.

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Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman Dec 2003

Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman

Rutgers Law School (Newark) Faculty Papers

In this Article, Professor Sharfman addresses the problem of "discretionary valuation": that courts resolve valuation disputes arbitrarily and unpredictably, thus harming litigants and society. As a solution, he proposes the enactment of "valuation averaging," a new procedure for resolving valuation disputes modeled on the algorithmic valuation processes often agreed to by sophisticated private firms in advance of any dispute. He argues that by replacing the discretion of judges and juries with a mechanical valuation process, valuation averaging would cause litigants to introduce more plausible and conciliatory valuations into evidence and thereby reduce the cost of valuation litigation and increase the …

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Love At What Price? Estimating The Value Of Marriage, Michael Conlin, Stacy A. Dickert-Conlin, Elyse Whitney Dec 2003

Love At What Price? Estimating The Value Of Marriage, Michael Conlin, Stacy A. Dickert-Conlin, Elyse Whitney

Economics - All Scholarship

Using a law within Social Security that provides clear financial incentives to delay marriage, we estimate the financial value of a month of marriage. Specifically, the law provides that widows who are eligible for Social Security benefits on their deceased spouse's earnings records are eligible for benefits at age 60, unless they remarry before that age. If they remarry before that age, they cannot claim widow benefits and must wait until at least age 62 to claim spousal benefits on their new husband's record, which are typically less generous than widow benefits. To generate an estimate of what this behavior …

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Improving Economic Literacy: The Role Of Concurrent Enrollment Programs, Donald H. Dutkowsky, Jerry M. Evensky, Gerald S. Edmonds Dec 2003

Improving Economic Literacy: The Role Of Concurrent Enrollment Programs, Donald H. Dutkowsky, Jerry M. Evensky, Gerald S. Edmonds

Economics - All Scholarship

This paper introduces Concurrent Enrollment Programs (CEPs), within the context of Syracuse University Project Advance (PA) Economics, as a way to improve economic literacy. We describe measures implemented to operate PA Economics as a high-quality CEP, as well as the National Alliance of Concurrent Education Partnerships to establish national standards. This study also contains results from administering to high school students taking PA Economics the nationally normed Test of Economic Literacy (TEL). PA students average nearly one percentage point higher than the AP/Honors Economics Group, and score considerably better than AP/Honors Economics in fundamentals and international economics. By cognitive level, …

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Review: Liah Greenfeld, The Spirit Of Capitalism: Nationalism And Economic Growth (Cambridge, Mass., 2001), Andre Wakefield Dec 2003

Review: Liah Greenfeld, The Spirit Of Capitalism: Nationalism And Economic Growth (Cambridge, Mass., 2001), Andre Wakefield

Pitzer Faculty Publications and Research

Reviewed work: Liah Greenfeld. The Spirit of Capitalism: Nationalism and Economic Growth. Cambridge, Mass.: Harvard University Press, 2001. Pp. xi+541. $45.00

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Maine Food Trader, New England Environmental Finance Center, University Of Southern Maine Dec 2003

Maine Food Trader, New England Environmental Finance Center, University Of Southern Maine

Local Food Systems

A free website for buying, selling, trading and donating local food. Keep food from going to waste and help make food production a good way to make a living in Maine.

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Front Matter, Journal Of Microfinance Dec 2003

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Balancing Supply And Demand: The Emerging Agenda For Microfinance Institutions, Thankom Arun, David Hulme Dec 2003

Balancing Supply And Demand: The Emerging Agenda For Microfinance Institutions, Thankom Arun, David Hulme

Journal of Microfinance / ESR Review

No abstract provided.

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Beyond Micro-Credit: Putting Development Back Into Micro-Finance By Thomas Fisher And M. S. Sriram, James R. Bradshaw Dec 2003

Beyond Micro-Credit: Putting Development Back Into Micro-Finance By Thomas Fisher And M. S. Sriram, James R. Bradshaw

Journal of Microfinance / ESR Review

No abstract provided.

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Rural Finance, Poverty Alleviation, And Sustainable Land Use: The Role Of Credit For The Adoption Of Agroforestry Systems In Occidental Honduras, Ruerd Ruben, Luud Clercx Dec 2003

Rural Finance, Poverty Alleviation, And Sustainable Land Use: The Role Of Credit For The Adoption Of Agroforestry Systems In Occidental Honduras, Ruerd Ruben, Luud Clercx

Journal of Microfinance / ESR Review

This paper analyzes the relationship between financial services provided by different agents, the adoption of agroforestry systems, and the implications for food security and sustainable soil management. Attention is focussed on the role of rural finance in reducing risk and stabilizing household income and yields. We conclude that credit provision performs critical functions for reinforcing the resilience of rural livelihoods in less-favored areas. Rural development programs in the Occidental region of Honduras have been rather reluctant to provide rural financial services. Unfavorable agroclimatic conditions and the scarcity of infrastructure lead to extreme poverty. The local economy is fairly dynamic due …

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Money Talks: Conversations With Poor Households In Bangladesh About Managing Money, Stuart Rutherford Dec 2003

Money Talks: Conversations With Poor Households In Bangladesh About Managing Money, Stuart Rutherford

Journal of Microfinance / ESR Review

This paper describes the money management behavior of 42 low-income Bangladeshi households, half of them rural and half living in urban slums. They were found to be active managers of their financial resources. Thirty-three varieties of financial instrument were found to be in use by the sample households during the research year. As well as using a wide variety of instruments, most households engaged in multiple uses of the instruments: on average each household initiated a new money management arrangement every two weeks. The sums of money involved are large, both absolutely and relative to incomes. The average “turnover” (the …

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Announcements, Journal Of Microfinance Dec 2003

Announcements, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Implications Of Financial Innovations For The Poorest Of The Poor In The Rural Area: Experience From Northern Bangladesh, Mohammed Emrul Hasan Dec 2003

Implications Of Financial Innovations For The Poorest Of The Poor In The Rural Area: Experience From Northern Bangladesh, Mohammed Emrul Hasan

Journal of Microfinance / ESR Review

Providing microfinance to the poorest of the poor in rural areas remains a challenge. Grameen demonstrated that the poor are viable clients for loans and reached them on a massive scale. However, they reach only the upper level of the poor and provide narrow and limited financial services with rigid systems and procedures, which in many ways do not address the needs of the poorest. Despite earning signs of success with their SafeSave innovative approach to serving the poorest in the urban area, this rural adaptation and experiment has faced challenges because of the different social and economical structures of …

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