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Relationship Between Real Exchange Rate And Consumption In Nigeria: A Nonlinear Approach, Babangida Jamilu S., Sanusi Aliyu R., Yusuf Isah M. 2024 Ahmadu Bello University, Zaria

Relationship Between Real Exchange Rate And Consumption In Nigeria: A Nonlinear Approach, Babangida Jamilu S., Sanusi Aliyu R., Yusuf Isah M.

CBN Journal of Applied Statistics (JAS)

This study analyses the relationship between real exchange rate and domestic consumption in Nigeria using the Smooth Transition Autoregressive (STAR) model from 1981Q1 to 2019Q4. Findings show that domestic consumption determines the regime shift in real exchange rate, suggesting a nonlinear linkage with clearly distinct regimes. The lagged exchange rate is shown to have a significant linear effect on the current exchange rate. On the other hand, current foreign consumption is positive but has no significant impact on the exchange rate in the linear part of the model. In the nonlinear part of the model, evidence of a significant negative …


The Economic Extension And Advisory System And Its Role In Advancing The Private Sector (Case Study: African Countries), Sharaf Ahmed, Muhammad Sewalim 2024 Gulf National Colleges, Saudi Arabia

The Economic Extension And Advisory System And Its Role In Advancing The Private Sector (Case Study: African Countries), Sharaf Ahmed, Muhammad Sewalim

Journal of the Arab American University مجلة الجامعة العربية الامريكية للبحوث

The paper aimed to highlight the importance of adopting an economic extension and advisory system to promote the growth of the private sector in the African countries. To achieve this purpose, a sample of 384 employees affiliated with the private sector in several African countries was surveyed. To analyze the results of the survey, the descriptive analytical method was used. The study concluded that there were no statistically significant differences regarding the importance of the economic extension and advisory system in promoting the growth of the private sector in the African countries and it is essential for the governments to …


The New China Model: Combating Economic And Political Order, Jack R. Swords 2024 Dartmouth College

The New China Model: Combating Economic And Political Order, Jack R. Swords

Dartmouth College Master’s Theses

Contemporary world politics centers around the actions of the two largest powers on Earth, the United States and China. They are both each other’s greatest adversary yet at the same time are each other’s largest trading partners. This thesis explores the nature of China’s economic climate that has seen it grow to one of the world’s foremost powers. However, the East Asian Nation faces economic challenges centered around the three D’s: Debt, Deflation, and Demographics. This thesis analyses what the nature of these challenges are and how China is responding to them within the ever-advancing world of economic and political …


A Systematic Literature Review On Overconfidence And Related Biases Influencing Investment Decision Making, Uttam Karki, Vaneet Bhatia, Dheeraj Sharma 2024 Indian Institute of Management Rohtak, Department of Finance and Accounting, Haryana, India

A Systematic Literature Review On Overconfidence And Related Biases Influencing Investment Decision Making, Uttam Karki, Vaneet Bhatia, Dheeraj Sharma

Economic and Business Review

In the current market scenario, it has been observed that biases are among the most significant factors influencing investment decisions. Among these biases, overconfidence is a common phenomenon managers tend to exhibit while making decisions. To understand the role of overconfidence bias in investment decision making, this study thoroughly scrutinizes and consolidates the current research on overconfidence bias. To achieve the objective, this study performs a systematic review of literature utilizing the PRISMA approach and examines 92 journal articles published in the last 20 years. Results suggest that the other two biases—hindsight and confirmation—are related to overconfidence bias. In addition, …


The Relationship Between Culture, Sustainable Use Of Resources, And Financial Performance: An Institutional And Natural-Resource-Based Perspective, Deon H. Engelke, Noel J. Pearse, Fabio M. Correa, Frederick O. Skae 2024 Rhodes University, Makhanda, South Africa and IEE Varsity College, Gqeberha, South Africa

The Relationship Between Culture, Sustainable Use Of Resources, And Financial Performance: An Institutional And Natural-Resource-Based Perspective, Deon H. Engelke, Noel J. Pearse, Fabio M. Correa, Frederick O. Skae

Economic and Business Review

Modelling a dataset of 5230 globally listed firms through two statistical approaches reflecting the primary principles of Natural-Resource-Based Theory and Institutional Theory, respectively, this study provides evidence that sustainability initiatives developed by firms are being rewarded in the form of improved Corporate Financial Performance (CFP). Culture has a significant influence on both firm sustainability performance, captured in ESG ratings, and CFP and also interacts with other variables, including industry sector and socio-economic development of a firm’s markets. This study is unique in hypothesising and statistically proving that sustainability is a mechanism that activates the potential of culture to produce CFP. …


Empirical Essays On Retail Investors, Institutional Investors, And Anomalies, Yuqing Yang 2024 The Graduate Center, City University of New York

Empirical Essays On Retail Investors, Institutional Investors, And Anomalies, Yuqing Yang

Dissertations, Theses, and Capstone Projects

This dissertation consists of five chapters on market efficiencies through retail and international mutual fund investors.

Chapter 1 This chapter briefly introduces this dissertation.

Chapter 2 This chapter Anomalies Never Disappeared: The Case of Stubborn Retail Investors delves into the “stubborn” retail investors and finds that anomalies traded against by retail investors never disappear in the long run, defying the conventional wisdom that anomalies are disappearing in recent years as market efficiency improves. Incorporating retail trading, I develop asset pricing models that surpass existing prominent models in explaining these long-run alphas. I hypothesize that retail investors exacerbate anomalies: the more …


Exploring Consumer Value Of Certified Sustainability Labels Of Local, Independent Versus National Coffee Brands, Mary Olivia H. Broussard 2024 Louisiana State University Agricultural and Mechanical College

Exploring Consumer Value Of Certified Sustainability Labels Of Local, Independent Versus National Coffee Brands, Mary Olivia H. Broussard

LSU Master's Theses

Local, oftentimes independent, coffee shops in the US now measure over 38,000. These shops must differentiate themselves from chain coffee brands in order to compete in the bagged coffee market. Research shows consumers value certified labels, and these labels have the potential to help differentiate independent shops. This paper will look at coffee drinkers’ willingness to pay for certifications (Fairtrade, USDA Organic, Rainforest Alliance, Carbon Trust) and how it differs between national brands (Dunkin, Folgers, Starbucks) and a local provider specified by the individual respondent. Data collection took place in spring of 2024. Results indicated a preference for branded bagged …


Can Aspiration And Financial Literacy Interventions Relieve Internal Constraints? Evidence From Uganda And India, Veronika Divis 2024 University of San Francisco

Can Aspiration And Financial Literacy Interventions Relieve Internal Constraints? Evidence From Uganda And India, Veronika Divis

Master's Theses

Can aspiration and financial literacy interventions relieve internal constraints? We address this question through a novel experiment in Uganda and India, using 617 participants in 89 already existing borrowing groups of microfinance institutions. We carry out aspiration and financial literacy treatments as well as a combined treatment group which received both treatments to measure effects on aspirations, hope, agency, and pathway indices. Results show that receiving the aspirations treatment led to 0.34, 0.42, 0.18, and 0.40 standard deviation increases in aspirations, agency, pathways, and aspirational hope, respectively. The game and combined treatment groups also showed positive effects but lacked statistical …


Financial Literacy And Aspirations: Experimental Evidence From Eastern Uganda, Ester Agasha 2024 University of San Francisco

Financial Literacy And Aspirations: Experimental Evidence From Eastern Uganda, Ester Agasha

Master's Theses

Financial literacy and the cultivation of aspirations are pivotal in empowering individuals and fostering economic growth, particularly within disadvantaged com munities. Although prior research has extensively analyzed the individual effects of financial education and motivational interventions on economic behaviors, there is less clarity on how the synergy between them can collectively impact the socioe conomic status of individuals in developing economies, especially women. Through randomized control experiment(RCT), this study explored the effectiveness of two interventions; 1) a financial literacy digital gaming application and, 2) an aspirations intervention (a short video documentary and a follow-up curriculum) in not only enhancing financial …


Heat And Social Behavior: The Effect Of Personal And Social Well-Being, Antonia Michele Sottile 2024 The University of San Francisco

Heat And Social Behavior: The Effect Of Personal And Social Well-Being, Antonia Michele Sottile

Master's Theses

High temperatures have the capacity to cause catastrophic changes in social and economic systems, but does heat impact our social behavior, and is this potential effect moderated by a person's social and personal well-being? In this paper, I utilize data from a 5 country laboratory experiment and run a fixed effect regression model to understand the role of these metrics in determining behavioral outcomes. The results suggest that heat alone has no impact on egalitarianism, generosity, or selfishness, but that it does have a small negative impact on spite. Stress was also found to have a negative impact on spite, …


Dose Higher Socioeconomic Status Associate With Better Mental Health Outcomes Among Primary Caregivers In Rural China?, Wenwen Zhang 2024 University of San Francisco

Dose Higher Socioeconomic Status Associate With Better Mental Health Outcomes Among Primary Caregivers In Rural China?, Wenwen Zhang

Master's Theses

This study explores the intricate relationship between socioeconomic status (SES) and the mental health outcomes of primary caregivers in rural China, focusing on the Early Childhood Development (ECD) context in Ya'an. Anchored in a major intervention project launched in 2023, the study critically examines the hypothesis that higher socioeconomic status correlates with lower levels of negative emotions among caregivers.

Utilizing cross-sectional data, the research investigates how educational attainment and household income influence caregivers' mental health, measured through the DASS-21 score in three dimensions: stress, anxiety, and depression. The findings reveal that higher household income and educational levels are significantly associated …


What The Stork Brought: Endogenous Fertility Preferences, Lucas Fortier Borden 2024 University of San Francisco

What The Stork Brought: Endogenous Fertility Preferences, Lucas Fortier Borden

Master's Theses

Where most existing literature on fertility preferences has described how fertility preferences shape outcomes, this paper provides insight into how the sex of a recent birth affects a mother’s fertility preferences. Utilizing data from the Demographic Health Survey from 1985-2020 in 81 countries containing 309,238 mothers who gave birth in the past 12 months and who have equal to or fewer than three children, I employ OLS with two-way fixed effects as my primary specification, examining the effects of the plausibly exogenous sex of a recent birth on sibship sex composition preferences. Results show that a recent daughter birth increases …


Leveling Up Financial Literacy: Evidence From Game-Based Intervention With Aspiration Treatment Amongst Rural Women In India, Akash Shaji 2024 University of San Francisco

Leveling Up Financial Literacy: Evidence From Game-Based Intervention With Aspiration Treatment Amongst Rural Women In India, Akash Shaji

Master's Theses

In India, rural women exhibit notably low financial literacy levels, necessitating effective and scalable educational interventions. Our randomized controlled trial evaluated a novel approach, combining game-based financial literacy education with a video documentary-based aspirations intervention, targeting women in self-help groups in Karnataka. The study included 348 participants and employed an ANCOVA model adjusted for clustering to analyze the effects. The results demonstrate significant improvements in financial literacy and aspirations, particularly when interventions are combined. The game-based intervention alone significantly enhanced digital literacy, financial confidence, and behavioral indices such as agency, pathways, and aspirations. The aspirations intervention also independently affected financial …


Climate Change And Environmental Crises In Coastal Cities: Charleston Vs New York City, Nolan Rodriguez 2024 Fordham University

Climate Change And Environmental Crises In Coastal Cities: Charleston Vs New York City, Nolan Rodriguez

Student Theses 2015-Present

This paper addresses the increasing vulnerability that coastal communities face regarding climate crises and rising sea levels. Specifically, this paper investigates the environmental crises facing Charleston, South Carolina, and New York City. The geographical location of these cities places a more severe threat upon their environment, as opposed to urban collectives removed from the immediate effect of rising sea levels. A cross-examination of politics and economics is discussed in order to determine the causal relationship of each city’s engagement with its surrounding environment. This paper examines how each city is affected by climate change, what measures are in place to …


Tax Preferences: A Numerical Exercise, Isaac Babatunde Olatunji 2024 University of Windsor

Tax Preferences: A Numerical Exercise, Isaac Babatunde Olatunji

Major Papers

Tax preference focuses on individuals' perception and choice regarding specific tax policies or structure. It examines the extent to which individuals favor certain tax provisions, rates, or exemptions over others. Scholars and researchers have extensively examined tax preference from various perspectives. I performed a numerical exercise on one agent model and two agent model where agents have preferences over consumption, labor supply and tax preferences (dislike of the labor income tax). Under the one agent model there exist one household utility maximization problem and under the two agent model there exist two households with low productive ability and high productive …


On The Stability Of Norms And Norm-Following Propensity: A Cross-Cultural Panel Study With Adolescents, Erik O. Kimbrough, Erin L. Krupka, Rajnish Kumar, Jennifer M. Murray, Abhijit Ramalingam, Sharon Sánchez‑Franco, Olga L. Sarmiento, Frank Kee, Ruth F. Hunter 2024 Chapman University

On The Stability Of Norms And Norm-Following Propensity: A Cross-Cultural Panel Study With Adolescents, Erik O. Kimbrough, Erin L. Krupka, Rajnish Kumar, Jennifer M. Murray, Abhijit Ramalingam, Sharon Sánchez‑Franco, Olga L. Sarmiento, Frank Kee, Ruth F. Hunter

Economics Faculty Articles and Research

Norm-based accounts of social behavior in economics typically reflect tradeoffs between maximization of own consumption utility and conformity to social norms. Theories of norm-following tend to assume that there exists a single, stable, commonly known injunctive social norm for a given choice setting and that each person has a stable propensity to follow social norms. We collect panel data on 1468 participants aged 11–15 years in Belfast, Northern Ireland and Bogotá, Colombia in which we measure norms for the dictator game and norm-following propensity twice at 10 weeks apart. We test these basic assumptions and find that norm-following propensity is …


Beer, Bourbon, And Bertrand: An Experimental Economics Analysis, Noah Cameron Dixon 2024 University of South Dakota

Beer, Bourbon, And Bertrand: An Experimental Economics Analysis, Noah Cameron Dixon

Honors Thesis

The purpose of this paper is to determine the effect that binge drinking has on economic performance in a standard Bertrand-style game. Results indicate that binge drinking, when paired with poor protective behavioral strategies, increases cooperative pricing in a Bertrand-style game, with this result persisting across various contextual frameworks. In the aggregate, this study contributes to the literature by being the first of its kind to evaluate the effect of observational binge-drinking meta scores on performance in a Bertrand-style game. To measure economic performance in the market, participants play the 2/3 average game and a standard Bertrand game with zero …


Economic Anomalies Following The Handover Of Hong Kong, Nathan Martin 2024 University of Arkansas, Fayetteville

Economic Anomalies Following The Handover Of Hong Kong, Nathan Martin

Economics Undergraduate Honors Theses

This paper seeks to examine and provide a possible explanation for economic anomalies in Hong Kong following its handover to China. Hong Kong was on a 99-year lease to the United Kingdom from China before being handed back over July 1st, 1997. Due to the “one country, two systems” policy espoused in the handover agreement that was to be implemented for fifty years, this event marks a rare natural experiment of a peaceful regime change without a significant change in governance. This paper seeks to understand the impact of the act of regime change on selected key macroeconomic …


Financial Self-Efficacy Among Puerto Rican Women In The United States: An Ethnographic Action-Based Research Study, Melinda Jimenez Perez 2024 University of the Incarnate Word

Financial Self-Efficacy Among Puerto Rican Women In The United States: An Ethnographic Action-Based Research Study, Melinda Jimenez Perez

Theses & Dissertations

The purpose of this ethnographic action research study was to better understand the financial self-efficacy of Puerto Rican women in the United States. There is a gap in the literature in identifying the relationship between middle-class Puerto Rican women and financial literacy. In a pilot study, four major findings emerged from the survey about Puerto Rican women and their relationship with finances: (a) as children, mothers taught them to save, and as adults, they rely on the male figures in their families; (b) the traditional education systems did not provide financial education; (c) the childhood culture of poverty and scarcity …


A Multi-Group Public Goods Game Experiment, Aaron S. Berman 2024 Chapman University

A Multi-Group Public Goods Game Experiment, Aaron S. Berman

Behavioral and Computational Economics (MS) Theses

People belong to many different groups, and few belong to the same network of groups. Moreover, people routinely reduce their involvement in dysfunctional groups while increasing involvement in those they find more attractive. The net effect can be an increase in overall cooperation and the partial isolation of free-riders, even if free-riders are never punished, excluded, or recognized. We test this conjecture with a multi-good extension of the standard finitely repeated public goods game. Our results from four treatments suggest that the multi-group setting indeed raises overall cooperation and dampens the impact of free-riders.


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