Social and Behavioral Sciences Commons^™

Essays On Women And Work In India And On Other-Regarding Preferences, Sai Madhurika Mamunuru

Doctoral Dissertations

This dissertation is a collection of three essays. In Essay I, I explore declining female workforce participation in India and propose the following explanation: Traditionally, Brahmin (upper caste) women were more secluded and did not work outside the house, while non-Brahmin, often poorer, women did. With increased income, non-Brahmin families withdraw women from the workforce in order to signal their enhanced social status. This is a part of a larger process of cultural emulation referred to as the Sanskritization of non-Brahmin families. Using a nationally representative panel dataset, I show, in favor of this hypothesis, that while Brahmin women’s participation …

Three Essays On Political Economy Of Uneven Development: Space, Class And State In Pakistan, Danish Khan

Doctoral Dissertations

This dissertation delineates the underlying dynamics of the political economy of uneven development by focusing on the dynamic interaction between socially produced space, class and the state in the context of postcolonial capitalism in Pakistan. The first essay (chapter two) focuses on the political economy of urban slums in the context of a postcolonial city of Islamabad, Pakistan. It presents a new conceptual framework of ‘expulsionary development’ to illustrate that the growth of slums and high-end gated housing enclaves are two sides of the same coin at the urban scale. Dispossession and urban sprawl are the underlying factors which mediate …

Three Essays On The Economics Of Corporate Governance, Kuochih Huang

Doctoral Dissertations

The Great Recession and the revival attention on inequality have cast doubts on various aspects of the governance of Corporate America. Not only the specific design of corporate governance institutions, but also the very purpose of the firm have became hotly debated issues. The first essay investigates the effect of the CEO's equity-based pay on workers' wages and whether the effect is amplified by product market competition. Since the 1980s, Chief Executive Officers' (CEO) pay has exploded, largely in the form of equity-based incentive compensation such as stock awards and options. Using a two-tiered principal-agent model, we show that aligning …

Three Essays On The Past And Future Of Socialism, Mihnea Tudoreanu

Doctoral Dissertations

The idea of economic planning and state ownership of the means of production, which had been central to socialist economic thought for a century and a half, suddenly fell out of favor even among socialists after the fall of the Soviet Union. The three essays of this dissertation are in essence critiques of this 21st century orthodoxy. The first essay addresses the idea of market socialism, as proposed by several academic works in the decades before and after the fall of the USSR. The essay questions whether market socialism would be substantially different from capitalism in practice. It aims to …

Three Essays On The Economics And Political Economy Of The “School-To-Prison Pipeline”, Anastasia C. Wilson

Doctoral Dissertations

This dissertation examines the political economy and economics of the school-to- prison pipeline (STPP). In my first essay, I interrogate approaches to the economics of the STPP. I then situate my analysis within the theoretical lens of Robinson (2000)’s racial capitalism, to show a political economy approach for understanding the nexus of public schooling and the carceral state. Building on the concept of enclosure as presented by Sojoyner (2013, 2016), I describe the emergence and impacts of the STPP to show how this dynamic functions as a racialized economic enclosure, through punitive discipline, exclusion, and criminalization. Next, I examine the …

Privatization And The Postsocialist Fertility Decline, Gabor Scheiring, Bryant P. H. Hui, Darja Irdam, Aytalina Azarova, Eva Fodor, Gosta Esping-Andersen, Lawrence King, David Stuckler

PERI Working Papers

In this article, we analyze the privatization of companies as a potential but so far neglected factor behind the postsocialist fertility decline. We test this hypothesis using a novel database comprising information on the demographic and enterprise trajectories of 52 Hungarian towns between 1989-2006 and a cross-country dataset of 28 countries in Eastern Europe. We fit fixed and random-effects models adjusting for potential confounding factors and control for time-variant factors and common trends. We find that privatization is significantly associated with fertility decline, explaining approximately half of the overall fertility decline across the 52 towns and the 28 countries.

South Asian Economies In Two Imperialist Regimes Between 1950 And 2020, Vamsi Vakulabharanam

PERI Working Papers

This chapter discusses the evolution of post-colonial South Asian economies using the triad of dominant classes, state and imperialism. Two key insights help us make sense of this evolution. First, the dominant classes such as landed interests, private capital and government bureaucrats in South Asia were able to prevent a radical/progressive restructuring of the economies from the very outset. Any deep crisis that threatened to radically transform the existing social order was solved through an ‘imperialist fix’, whereby the dominant classes in conjunction with the state sought external help (e.g. ‘Green Revolution’ in the wake of food crises of 1960s). …

Should Economists Deceive? Prosocial Lying, Paternalism, And The ‘Ben Bernanke Problem’, George Demartino

PERI Working Papers

A widely held principle in professional ethics, across the professions, is the duty to speak truthfully when engaging in professional activity. Expert truth-telling has come to be recognized as vital to the Kantian respect that is due to clients and others who must act based on professional advice; and to the imperative to sustain trust. It is therefore notable that economics does not generally require truth telling among its members. Against truth telling, in cases where what an economist says can impact social welfare, the profession tends toward “prosocial lying”—lying that is thought to be in society’s best interests. The …

Deindustrialization And Deaths Of Despair: Mapping The Impact Of Industrial Decline On Ill Health, Gabor Scheiring, David Stuckler, Lawrence King

PERI Working Papers

A growing literature on deaths of despair has argued that workers’ declining life expectancy in deindustrialized rustbelt areas in the U.S. and the associated deepening of health inequalities signal the profound existential crisis of contemporary capitalism. Competing explanations downplay the negative consequences of “creative destruction” and focus instead on unhealthy lifestyles. This article contributes to this debate by presenting the first empirical analysis of the role of deindustrialization in the deaths of despair epidemic that hit Eastern Europe in the 1990s. Drawing on the thematic analysis of 82 semi-structured interviews in four deindustrialized towns in Hungary, the article constructs a …

Zombie Prevalence And Survival, Debamanyu Das, Saurabh Roy

PERI Working Papers

We document the rise in the share of zombie firms starting from the late 1990s in the US economy across various sectors. We compare multiple definitions used in literature to identify zombies and discuss how they continue to survive. We find zombies issue more debt compared to non-zombies. A subset of zombies defined as growing zombies are able to raise equity too.

Looming Debt Crisis In Sub-Saharan Africa: Drivers, Implications And Policy Options, Léonce Ndikumana, Theresa Mannah-Blankson, Angelica Espiritu Njuguna

PERI Working Papers

This study explores the trends, patterns and drivers of recent debt accumulation in Sub-Saharan African countries with a view to sheding light on possible strategies to minimize adverse effects on the economies and ensure sustainable development financing. This is in light of concerns about a possible ‘looming debt crisis’ in the developing world, which have been exacerbated by the Covid-19 pandemic. The analysis in this study is based on existing data, supplemented by detailed information obtained from government sources for the cases of Ghana, Kenya, and Uganda. The evidence shows that Sub-Saharan African countries have experienced rapid accumulation of both …

Coronavirus Fiscal Policy In The United States: Lessons From Feminist Political Economy, Katherine A. Moos

PERI Working Papers

Using the U.S. fiscal response to Covid-19 in March and April 2020 as a case study, this paper explores the implications that the U.S. coronavirus legislation had on the societal distribution of responsibility for social reproduction among U.S. households, employers, and the U.S. federal government —and its effect on women and racialized minorities. It builds on feminist political economy research that argues that, prior to the coronavirus pandemic, economic crisis and stagnating conditions for workers in the United States had increased the role of households and the U.S. government in social reproduction, relative to the contribution of employers. This paper …

What’S Wrong With Modern Money Theory: Macro And Political Economic Restraints On Deficit-Financed Fiscal Policy, Thomas Palley

PERI Working Papers

The essential claim of MMT is sovereign currency issuing governments, with flexible exchange rates and without foreign currency debt, are financially unconstrained. This paper analyzes the macroeconomic arguments behind that claim and shows they are suspect. MMT underestimates the economic costs and exaggerate the capabilities of deficit financed fiscal policy. Those analytic shortcomings render it poor economics. However, MMT’s claim that sovereign governments are financially unconstrained is proving a popular political polemic. That is because current distressed economic conditions have generated political resistance to fiscal austerity, and MMT fits the moment by countering the neoliberal polemic that government lacks fiscal …

Gender And Work Patterns In Indian Cities: A Socio-Spatial Analysis, Vamsi Vakulabharanam, Sripad Motiram

PERI Working Papers

Using an original household survey conducted in Hyderabad and Mumbai that identifies intra-city spatial coordinates of residents, we present a socio-spatial analysis of gender and paid work. We show that the ease of movement through the city, allocation of care work related considerations and educational attainment are all crucial to understanding the labor force participation patterns of urban women. A gender lens identifies key facets of access and mobility characterizing urbanization in developing countries. Spatial heterogeneity of residence has very different outcomes for the labor force participation of women and men.

The Janus Faces Of Money, Property, And Governance: Fiscal Finance, Empire, And Race, Jamee K. Moudud

PERI Working Papers

This paper contributes to the literature on racial capitalism by deploying a key insight of the Law and Political Economy tradition which is that politics acting through the law plays a constitutive role in the monetary hardwiring of economies and their property rights. By focusing on two key elements of fiscal finance, central banking and taxation, the paper shows that while the pressures of democratic self-governance created one type of hardwiring in Britain and its white dominions racialized politics created a different type in the colonies of color. In short, the particular monetary hardwiring of the colonies of color effectively …

Beyond The Coronavirus: Understanding Crises Of Social Reproduction, Smriti Rao

PERI Working Papers

From a feminist political economy perspective, the unfolding of the coronavirus is a further reminder of the fundamental contradiction between a capitalist system that prioritizes profits, and a feminist ethic that prioritizes life-making or social reproduction. This paper argues for a more systematic understanding of crises of social reproduction under capitalism, stressing the difference between such crises for labour, and those for capital. The coronavirus crisis represents an extraordinary example of a crisis of social reproduction for capital, but this paper examines crises of social reproduction for capital and labour that arise from the more ordinary workings of capitalism. The …

The State's Response To The Crisis Of Neoliberalism: A Comparison Of The Net Social Wage In China And The United States, 1992-2017, Katherine A. Moos, Hao Qi

PERI Working Papers

We compare the welfare states and taxation regimes of the two largest economies in the world, China and the United States, from 1992 to 2017. We begin with a comparison of each country’s net social wage—that is, the difference between total benefits received by and taxes paid by labor—using two established methods. While the net social wage in the two countries exhibited similar trends, the increasing net social wage has distinctly different implications in the two countries due to their specific historical trajectories in the neoliberal era. In the US, the increasing net social wage reflects an ambivalent and reluctant …

How Race And Gender Shape Covid-19 Unemployment Probability, Armagan Gezici, Ozge Ozay

PERI Working Papers

Using the April 2020 Current Population Survey (CPS) micro dataset, we explore the racialized and gendered effects of the COVID-19 pandemic on the probability of being unemployed. The distribution of job losses from COVID-19 for women and men or for different racial/ethnic categories has been studied in the recent literature. We contribute to this literature by providing the first intersectional analysis of unemployment under COVID-19, where we examine the differences in the likelihood of unemployment across groups of White men, White women, Black men, Black women, Hispanic men and Hispanic women. Controlling for individual characteristics such as education and age, …

Potential Reserve Army And Diverging Paths Of Transition In Former State Socialist Economies, Zhun Xu

PERI Working Papers

Since the rise of neoliberalism in the world in the last quarter of the 20th century, many former state socialist economies also started their transition into different kinds of market economic models. Over the course of the last three decades or so, there emerged distinct paths of transition among these economies. This paper proposes a Marxian framework to help understand the three major models of transitions among former socialist economies: the Russian path, the Chinese path, and the Cuban/North Korean path. The framework focuses on the differences in working-class composition and in particular the size of the potential reserve army …

Three Essays On The Role Of Institutions In Indian Agriculture, Kartik Misra

Doctoral Dissertations

Rural labor markets in India are characterized by high inequality in landownership, concentration of political power and caste fragmentation. Consequently, small and marginal farmers are vulnerable to land grabs by local landlords and large urban industrial corporations. Further, agricultural workers lack bargaining power in wage negotiations with monopsonistic employers. This dissertation analyzes the role of these power asymmetries in landownership, wage determination and the implementation of government programs aimed at poverty alleviation and structural transformation. My first chapter “Land Acquisition and Rural Labor Markets: Evidence from Special Economic Zones in India” examines whether Special Economic Zones (SEZs) effectively induce structural …

Three Essays On Gender-Specific Employment Outcomes Of Macroeconomic Policies, Selin Secil Akin

Doctoral Dissertations

This three-essay dissertation examines the impact of fiscal and monetary policies on gender-disaggregated employment outcomes both theoretically and empirically. The first essay constructs a structuralist macroeconomic model that explores channels whereby fiscal and monetary policies impact women’s paid and unpaid work. The essay discusses two factors related to labor market segregation that can explain differential effects of macroeconomic policies on male and female employment: the labor intensity of female-dominated sectors, and different responses of capacity utilization to aggregate demand shocks in male and female-dominated sectors. In addition, a decline in output resulting from aggregate demand shocks may increase women’s unpaid …

Bitter Chocolate: Wealth Extraction In Côte D'Ivoire, Jean Merckaert

PERI Working Papers

The cocoa sector has been at the heart of Côte d'Ivoire economy since independence. The country has become the largest producer of cocoa in the world (40%). In the two first decades of independence, impressive economic growth was fueled by cocoa exports. But the Ivorian miracle evaporated after the collapse of cocoa prices and the debt soaring. The country plunged into a serious economic crisis, followed by a political crisis that culminated in civil war in the early 2000s. The primary commodity sector in Côte d’Ivoire has been highly vulnerable to illicit financial flows. Large and persistent discrepancies between Côte …

A General Equilibrium Analysis Of The Impact Of The Covid-19 Outbreak On Turkey’S Economy And A Policy Alternative To Protect Labor Incomes, Ebru Voyvoda, A. Erinç Yeldan

PERI Working Papers

The COVID-19 pandemic is being experienced as a multidimensional systemic crisis based on the simultaneous manifestations of the supply, demand, and financial shocks. These effects have already been realized in the exacerbation of deep inequalities in income distribution, in functional, regional, and gender terms; in access to public services that are commercialized; and therefore, in an environment where poverty is experienced

with social exclusion due to severe inequalities of income.

The crisis has hit the Turkish economy under a conjuncture where the adverse effects of the 2018 financial turbulence have not yet been alleviated, and the macroeconomic balances have not …

Capital Flight From South Africa: A Case Study, LéOnce Ndikumana, Karmen Naidoo, Adam Aboobaker

PERI Working Papers

This paper examines the mechanisms, actors, enablers, and the institutional environment that facilitate capital flight from South Africa and the resulting accumulation of private wealth in offshore financial centers. We estimate that from 1970 to 2017, South Africa lost over $300 billion through capital flight, including through overinvoicing of imports and underinvoicing of exports. Net trade misinvoicing amounted to $146 billion over the 1998-2017 period alone. Export underinvoicing appears to be especially rampant in the case of mineral resources such as gold, silver, platinum and diamonds. While capital flight is not a new phenomenon in South Africa, it has accelerated …

Corporate Political Power And Us Foreign Policy, 1981-2002: The Role Of The Policy-Planning Network, Philip Luther-Davies, Kasia Julia Doniec, Joseph P. Lavallee, G. William Domhoff, Lawrence P. King

PERI Working Papers

Recent empirical work has offered strong support for ‘biased pluralism’ and ‘economic elite’ accounts of political power in the United States, according a central role to interest groups as a mechanism through which corporate influence is exerted. Here, we propose an additional channel of influence for corporate interests: the ‘policy-planning network,’ consisting of corporate- dominated foundations, think tanks, and elite policy-discussion groups. To evaluate this assertion, we coded the policy preferences of one key policy-discussion group, the Council on Foreign Relations (CFR), on 295 foreign policy issues during the 1981-2002 period. In logistic regression analyses, the preferences of economic elites …

Do Firms With Higher Energy Efficiency Have Better Access To Finance?, Philipp-Bastian Brutscher, Pauline Ravillard, Gregor Semieniuk

PERI Working Papers

Improving energy efficiency quickly is key to mitigating climate change and a large part of such improvements has to be implemented in firms. But since most energy efficiency improvements require upfront investments, good access to external finance is important. Theory suggests that information asymmetries may prevent lenders from including energy efficiency into their lending assessment, even though higher energy efficiency makes a firm more cost- competitive and its collateral worth more, especially if stringent climate change mitigation plans are implemented. Empirically, little is known about the impact of energy efficiency on access to external finance. Here we examine for the …

Delhi Green Deal, Rohit Azad, Shouvik Chakraborty

PERI Working Papers

In this paper, we propose a carbon tax policy for Delhi, the most polluted capital in the world, which will fundamentally change the energy mix of Delhi’s economy toward clean, green energy and will guarantee universal access to electricity, transport and food, up to a certain amount. Any carbon mitigation strategy needs to alter our dependence on fossil fuels, requiring a systemic overhaul of its energy mix. Implementing a carbon tax will mitigate emissions and mobilise revenue for our proposed re-distributive program of Right to Food, Energy and Travel (RFET). The policy is designed to prefer ‘the poor over the …

Public Investment In Home Health Care: A Win-Win Strategy For Employment And Public Health, Lenore Palladino

PERI Working Papers

This article will estimate the impacts of major public investment in the home health care industries. Investment in the home health care workforce would have important public health benefits, as those individuals who are most vulnerable could stay out of residential care centers. The focus of this article is on the employment and income effects of public investment in home care in a time of surging unemployment. By examining the effects of job stabilization and creation for the home health care workforce, I find that robust public investment in home health care can create millions of jobs, both directly in …

Political Economy Of The Environment: A Look Back And Ahead, James K. Boyce

PERI Working Papers

The political economy of the environment aims to deepen our understanding of the interplay among the economy, the environment, and human well-being. In contrast to neoclassical environmental economics, it pays attention not only to the net magnitude of costs and benefits but also to their distribution. In the realm of positive analysis – descriptions of how the world works – this means exploring the multiple ways in which the distribution of wealth and power affects environmental outcomes. In the realm of normative analysis – prescriptions for how the world should work – political economists advocate a range of criteria including …

Food-Based Businesses And The Creative Class In New England's Post-Industrial Cities, Francesca Cigliano

Masters Theses

This master’s thesis examines how the density of food-based businesses in New England’s post-industrial urban neighborhoods relates to neighborhood demographic characteristics. The relationship between food-based businesses and demographic change has been examined in larger metropolitan areas like New York City and Chicago and has found that younger, wealthier, and more highly educated residents tend to live where there are greater densities of food businesses. However, there has been little research on the topic in New England’s post-industrial cities that have historically struggled to attract highly sought knowledge workers. I find that food business density and the share of residents employed …