Digital Commons Network^™

Does Social Trust Affect International Contracting? Evidence From Foreign Bond Covenants, Paul Brockman, Sadok El Ghoul, Omrane Guedhami, Ying Zheng

Finance Department Faculty Journal Articles

Building on rational choice institutionalism theory and Williamson’s (J Econ Lit 38(3): 595–613, 2000) four-level social analysis framework, we investigate the influence of the informal institution of social trust on debt contract design in an international setting. Using a sample of non-U.S. firms that issue bonds in the U.S. debt market, we find that Yankee bond creditors impose fewer covenants on bond issuers domiciled in countries with a high degree of social trust. We further show that the inverse relationship between debt covenants and the informal institution of social trust is more pronounced for firms from countries with weak formal …

Measuring Movement And Social Contact With Smartphone Data: A Real-Time Application To Covid-19, Victor Couture, Jonathan L. Dingel, Allison Green, Jessie Handbury, Kevin R. Williams

Cowles Foundation Discussion Papers

Tracking human activity in real time and at fine spatial scale is particularly valuable during episodes such as the COVID-19 pandemic. In this paper, we discuss the suitability of smartphone data for quantifying movement and social contact. We show that these data cover broad sections of the US population and exhibit movement patterns similar to conventional survey data. We develop and make publicly available a location exposure index that summarizes county-to-county movements and a device exposure index that quantifies social contact within venues. We use these indices to document how pandemic-induced reductions in activity vary across people and places.

Towards An Economic Geography Of Fintech, Karen P. Y. Lai, Michael Samers

Geography Faculty Publications

In this paper, we identify the ways in which the existing literature has examined financial technology (FinTech). Using the frame of the ‘FinTech Cube’, we examine how FinTech unfolds through the intersections of key actors, technologies and institutions. We demonstrate the relevance of FinTech for two areas of geographical enquiry: i) the reshaping of global production and financial networks, and ii) financial inclusion and poverty reduction in poorer countries. In doing so, we accord particular attention to the significance of FinTech for theoretical and empirical research in economic geography.

Downtown Population Growth In Southwest And Mountain West Metros, Peter Grema, Eshaan Vakil, Caitlin J. Saladino, William E. Brown Jr.

Demography

Summarizing data from Brookings Metropolitan Policy Program’s May 2020 research brief “big city downtowns are booming, but can their momentum outlast the coronavirus?,” this fact sheet includes an overview of population growth in downtown and metropolitan statistical areas (MSAs) between 1980 and 2018 in the Southwest and Mountain West regions of the United States. We focus on Mountain West states (Nevada, Arizona, Colorado, Utah, and New Mexico) in our analysis. In addition, we include the metros that comprise the Southwest Megapolitan Triangle (Southern California, alongside Las Vegas, NV, and Phoenix, AZ metropolitan statistical areas).

International Disease Epidemics And The Shadow Economy, Aziz N. Berdiev, Rajeev K. Goel, James W. Saunoris

Economics Faculty Working Papers

Adding to the emerging body of research related to the current coronavirus crisis, this paper studies the impact of disease epidemics on the worldwide prevalence of the shadow or the underground economy. The informal sector undermines compliance with government regulations and lowers tax collections. Our main hypothesis is that epidemics positively impacts the spread of the shadow economy. Using data on nearly 130 nations and nesting the empirical analysis in the broader literature on the drivers of the shadow sector, we find that both the incidence and the intensity of epidemics positively and significantly contribute to the spread of the …

Racial And Ethnic Disparities In Covid-19: Evidence From Six Large Cities, Joseph Benitez, Charles J. Courtemanche, Aaron Yelowitz

Institute for the Study of Free Enterprise Working Papers

As of June 2020, the coronavirus pandemic has led to more than 2.3 million confirmed infections and 121 thousand fatalities in the United States, with starkly different incidence by race and ethnicity. Our study examines racial and ethnic disparities in confirmed COVID-19 cases across six diverse cities – Atlanta, Baltimore, Chicago, New York City, San Diego, and St. Louis – at the ZIP code level (covering 436 “neighborhoods” with a population of 17.7 million). Our analysis links these outcomes to six separate data sources to control for demographics; housing; socioeconomic status; occupation; transportation modes; health care access; long-run opportunity, as …

Resetting Normal: Women, Decent Work And Canada's Fractured Care Economy, The Canadian Women's Foundation, Canadian Centre For Policy Alternatives, Ontario Nonprofit Network, Fay Faraday

Commissioned Reports, Studies and Public Policy Documents

Women in Canada have been disproportionately impacted by the COVID-19 pandemic to an extent that threatens to roll back equality gains. Economic losses have fallen heavily on women and most dramatically on women living on low incomes who experience intersecting inequalities based on race, class, disability, education, and migration and immigration status. The pandemic crisis has highlighted the fragility of response systems and the urgent need for structural rethinking and systemic change.

Merchants Without Borders: Qusman Traders In The Arabian Gulf And Indian Ocean, C. 1850-1950, Mansour Alsharidah

Graduate Theses and Dissertations

This dissertation is a history of the economic, social, and political life in Arabia, the Arabian Gulf, and the Indian Subcontinent from the mid-nineteenth to the mid-twentieth centuries. It draws on materials from al-Qasim, Kuwait, Bahrain, Karachi, Bombay, Calcutta, and London, in addition to travelers’ accounts. These materials and accounts are used to explore the extent and significance of al-Qasim’s international trade between Arabia and India through the Arabian Gulf. It further examines how Qasimi merchants mobilized commodities and traded in the port cities of the Arabian Gulf and the Indian Ocean, taking advantage of changing regional and global political …

The Data City, The Idiom And Questions Of Locality, Noel Fitzpatrick

Articles

The paper aims to provide both a radical critique of the “smart city” as a techno-ideological apparatus,that through data analysis and algorithmic forms of governmentality tends to colonize space and time, and an attempt to reframe the very concept of intelligence within the smart cities. Two concepts are presented as tools for such a reframing: locality and idiom, where the first is conceived as openness of meaning generated by a territory, while the latter,analysed througha paradigmatic Irish example (Friel’s play Translations), prepares the ground for the pars construensof the paper. The claim, built by intertwining a set of authors (Ricoeur, …

Effect Of Financial Inclusion And Stability On Equality, Poverty, And Human Development: An Empirical Analysis In The Context Of South Asia, Souvik Banerjee

DLSU Business & Economics Review

In this research endeavor, financial inclusion and its impact on three important aspects of human life (i.e., inequality, poverty, and human development) are explored in the south Asian region. Worldwide inequality is catching much attention from the academic community off late. Similarly, the extent of poverty and human development indicators of any country indicates the level of development. The penetration of the bank branch and automated teller machine (ATM) is considered as a proxy for financial inclusion. Long time-series data from 2004 to 2016 is considered for this study. This should be an important addition to the existing literature on …

Water Avengers And Their Endgame, David M. Boje

Markets, Globalization & Development Review

No abstract provided.

Parag Khanna, Connectography: Mapping The Future Of Global Civilization (2016), Sudipto Sarkar

Markets, Globalization & Development Review

Parag Khanna’s world tour through “Connectography: Mapping the Future of Global Civilization” provides the reader with vivid details of a connected world that we live in. The prime message of this book is connecting the global nodes through building infrastructure starting from oil pipelines to fibre optic cables. Exploring diverse arenas, this book gives an overview why “connectivity” is important for the entire world and not only for the selected few. Khanna’s pervading visionary approach covers bits and pieces of almost everything to make the world connected for future prosperity. However, a question still remains about how consistently his views …

Scaling Jobs For The Poor: Reducing Poverty Through The Impact Sourcing Bpo Approach, Aneel Karnani, Kevin Mckague

Markets, Globalization & Development Review

The best way to alleviate poverty is to increase the income of the poor by providing productive employment. A pragmatic approach is to focus on a sector of the economy that is employment intensive and growing rapidly. A good candidate is the business process outsourcing (BPO) sector. Impact sourcing is a subset of the BPO sector that focuses on reducing poverty by providing jobs to the poor. While this sounds promising, impact sourcing has not delivered on the promise, at least not yet. We illustrate our argument using in-depth case studies of three of the largest impact sourcing service providers, …

The World Is Not Simple: Connectivity, Complicity, Complexity, Nikhilesh Dholakia, Deniz Atik

Markets, Globalization & Development Review

No abstract provided.

Climbing To 1011: Globalization, Digitization, Shareholder Capitalism And The Summits Of Contemporary Wealth, David A. Westbrook

Journal Articles

While we may find many sorts of inequality in the United States and elsewhere, this essay is about the specific form of inequality exemplified by Jeff Bezos or Bill Gates, that is, the Himalayan summits of contemporary wealth, mostly in the United States. Such wealth results from the confluence of three historical developments.

First, the social processes referred to under the rubric of “globalization” have created vast markets. A dominant position in such markets leads not only to great wealth, but the elimination of peers. Since there are few such markets, relatively significant wealth is possessed by very few people. …

Enhancing Resilience To Turbulent Global Financial Markets: An Indonesian Experience, Febrio Kacaribu

Economics and Finance in Indonesia

In the empirical literature, large and abrupt declines in capital inflows, or sudden stops, typically hit asset markets and generate output losses in the receiving countries. The significant decrease in capital flows to emerging markets in 2018 is a unique opportunity to test this premise. Using Indonesian data, we found that the sharp decline in capital inflows for over two consecutive quarters in 2018 had an adverse impact on the currency, equities, and bond markets, but no discernible output loss was recorded. Real GDP growth remained resilient throughout 2018 and held broadly steady at around 5 percent in the first …

Gender Differences In Children's Non-Leisure Activities: A Decomposition Analysis, Dayang Haszelinna Abang Ali

Economics and Finance in Indonesia

The prevalence of son preference indicates that girls will have less leisure time compared to boys. This study aims to examine gender differences in weekly hours in schooling, housework, and working among children in Indonesia using Tobit Model and decomposition model of Bauer & Sinning (2005), to test whether son preference explains the differences. The dataset was drawn from the fourth wave of Indonesia Family Life Survey (IFLS) in 2007. The results show significant gender differences in housework and working for children aged 5-14 years and insignificant gender gap in schooling for both age groups. These results confirm the existence …

The Impact Of Entrepreneurship On Economic Performance In Indonesia, Yohanes Kadarusman

Economics and Finance in Indonesia

Entrepreneurship is claimed to have a positive and significant effect on economic growth in developed countries, but less so in developing countries. Using the growth model, this study examines the impact of entrepreneurship on economic performance in Indonesia as indicated by economic growth and income per-capita from 1985 to 2017. The estimation result confirms the non-significant effect of the growth of entrepreneurial ventures on the growth of GDP per-capita. However, the accumulation of the ventures has a positive and significant effect on the level of GDP per capita. The different typology of entrepreneurial ventures in Indonesia provides some insight to …

Made In The Usa: Technological Corporatism, Infrastructure Regulation, And Dupont 1902-1917, Roman Y. Shemakov

Swarthmore Undergraduate History Journal

The turn of the twentieth century radically renewed industrial organization across the United States. Early American corporations -- centralized manufacturing hubs with journeymen and apprentices laboring under one roof -- were seldom prepared for the transformations that scientific management and structural reorganization would bring to social relations. At the helm of World War 1, DuPont became the epitome of broader national restructuring. Through a close relationship with American military industries and legislatures, the DuPont brothers came to represent Business as an inseparable component of the State. While labor historiography has primarily focused on organizers’ relationship with regulators, important segments of …

The Politics Of Fair Trade Consumption: A U.S. Perspective, Caroline Burns, Ameera Ibrahim

School of Economics and Business Administration Faculty Works

No abstract provided.

Crazy Rich Asians: Exploring Discourses Of Orientalism, Neoliberal Feminism, Privilege And Inequality, Devi Vijay

Markets, Globalization & Development Review

In this review of Crazy Rich Asians (2018), I examine elements of orientalism, neoliberal feminism, privilege and inequality that layer the film. Specifically, I interrogate the film’s American inflection of orientalism, surfacing a constant duel between essentialized Asian and American values, where what is American eventually wins out. Independent, entrepreneurial women are integral to this narrative of global capitalist accumulation. Yet, as the East meets the West in the globalized consumptive spaces of the super-rich, inequalities in the United States and Singapore are either repackaged under the myth of meritocracy, or conveniently erased. While the film demarcates a new Hollywood …

On The Banality Of Transnational Film, Ian Reyes, Justin Wyatt

Markets, Globalization & Development Review

“Breakthrough” global blockbusters like Black Panther (2018) and Crazy Rich Asians (2018) create disturbances among critics and firms forced to wonder if such ripples of diversity will become waves of new cinema wiping out the hegemony of Hollywood and the global West. In this essay, we establish the context for this phenomenon in terms of film’s historical relationship to marketing. Through this context, we theorize a transnational aesthetic for global blockbusters, one that may serve to limit ripples of diversity, breaking waves of change against the rocks of a banal cinema of Americanized nothingness.

Three Essays On International Trade Policies, Xin Yi

Dissertations and Theses Collection (Open Access)

This dissertation studies the empirical and quantitative implications of trade policies. The first chapter examines the effects of trade policies on quality specialization across cities within a country. Specifically, we complement the quality specialization literature in international trade and study how larger cities within a country produce goods with higher quality. We first establish three stylized facts on how product quality is related to agglomeration, firm productivity, and worker skills. We then rationalize these facts in a spatial equilibrium model where all the elements mentioned above are present and firms are free to choose their locations. Using firm-level data from …

Neighborhood Change In Las Vegas, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This Fact Sheet analyzes indicators of demographic and economic change in Las Vegas neighborhoods and suburbs, provided by “American Neighborhood Change in the 21st Century,” a study published by the Institute on Metropolitan Opportunity (IMO) at the Minnesota Law School. Researchers reviewed data from the 2000 U.S. Census and the 2016 American Community Survey (ACS) for the top 50 largest metros in the U.S. The study reports levels of neighborhood change, including economic growth, poverty concentration, gentrification, and low-income displacement. Data pertaining to the Las Vegas metropolitan region are synthesized to measure indicators of economic viability and housing availability.

Education, Inclusive Growth And Development In Nigeria: Empirical Examination, Emmanuel Onwioduokit

Bullion

Fundamental changes in the intellectual and social stance of any society have always been preceded by educational renaissance. This paper investigates the role of education in achieving and sustaining economic development in Nigeria. Abstracting from the theory, the paper examines education in Nigeria, its enhancing, including comparative analysis with selected African countries and its connection with economic development. The ARDL model was adopted to examine both the short run and long run relationships between education and development proxied by HDI and education and economic growth within the context of inclusive growth model. Evidence from the estimated long run ARDL model …

House Ownership In Selangor: A Qualitative Study On Consumers Preferences And Challenges, Packeer Mohamed Nur Syafiqah

Student Works (2020-2029)

The residential real estate market in Selangor offers diverse house types following the fact that the state has highest number of workers. It is important for a proper decision-making process by taking consider a few factors such as financial and neighbourhood factors in a house purchase. Based on residential housing market data in Selangor, Petaling district was found to have the most purchases and the 2 to 2 and a half storey house type is the most purchased out of the variety, and there are also cases where there are completed houses that were not purchased by the residents, even …

Reclaiming Indiana: The Politics Of Crisis Amid The Failures Of Liberal Capitalist Modernity, Chris Grove

Dissertations, Theses, and Capstone Projects

This ethnography examines grassroots political responses to the economic crisis that began in 2008, foremost in the US Midwest, which arguably laid the groundwork both for the election of President Donald Trump and presidential candidacy of Senator Bernie Sanders. President Obama launched his $787 billion stimulus plan in Elkhart, Indiana, in early 2009. At the height of the crisis, unemployment skyrocketed from four to 20 percent in Elkhart, and it became central to struggles over the political direction of the US. With few safety nets, Elkhart residents struggled to meet their basic needs, creating conditions for political organizing on both …

Anchorite Sacred Caves In Serbia: Balancing Between Pilgrimage And Religious Tourism Development, Aleksandar Antić

International Journal of Religious Tourism and Pilgrimage

Serbia is a country with diverse karst terrain, full of various surface and underground karst formations. This terrain is one of the factors that influenced the development of cultures and civilizations in this area. Many archaeological findings indicate that prehistoric people found refuge, safety and peace in many caves in present-day Serbia. The natural environment has also influenced many spiritual endeavours, which have shaped cultural identities throughout history. In this study, Orthodox anchorite sacred caves in Serbia are explored, as well as their related pilgrimage activities and potential for religious tourism development. For the purpose of this research, three pilgrimage …

Determinants Of County-Level Poverty Rates In 2017: An Upper-Midwest Comparison, Trey V. Perez

Undergraduate Economic Review

The American upper-Midwest as a region throughout the 2010s has experienced lower-than-average poverty rates. This paper seeks to uncover the determinants that have the greatest impact on the county-level poverty rates for five states (Iowa, Minnesota, Wisconsin, and the Dakotas). Outcomes for this study came from an Ordinary Least Squares (OLS) regression to estimate the impact each independent variable had on the poverty rate. The empirical results showed the unemployment rate, the percentage of households headed solely by females, and percent of the population that was Native American in 2017 had a significant impact on a county’s poverty rate.

Immigrants And Their Voting Power In Nevada, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Demography

This Fact Sheet presents the number of both documented and undocumented immigrants in Nevada, synthesizing data provided by New American Economy (NAE), a bipartisan research non-profit organization. To estimate the total number of immigrants in the U.S. and across each of the 50 states, researchers reviewed various data sources including the U.S. Census, the American Community Survey, the Center for Migration Studies, and the United States Citizenship and Immigration Services (USCIS).