Social and Behavioral Sciences Commons^™

Tourism Growth In Singapore: An Optimal Target, Habibullah Khan, Sock-Yong Phang, Rex S. Toh

PHANG Sock Yong

No abstract provided.

Women In China, Between Confucius And The Market, Tonia Warnecke, Alain Blanchard

Faculty Publications

No abstract provided.

Is The Philips Curve Useful For Monetary Policy In Nigeria, Carlos J. Garcia

CBN Occasional Papers

The objective of this article is to determine if the Phillips curve is a relevant tool to conduct monetary policy in African countries wishing to adopt an inflation-targeting regime. I choose Nigeria as a case of study because it is in the early stage of the implementation of this regime. I estimate a medium-sized model for monetary policy analysis. The model reflects a synthesis between the New Keynesian and the Real Business Cycle (RBC) approaches. Then I estimate the model by using Bayesian econometric technique in order to overcome the shortage of data availability. The study concludes that there is …

International Labor Rights And The Sovereignty Question: Nafta And Guatemala, Two Case Studies, Lance A. Compa

Lance A Compa

[Excerpt] Labor rights advocates in the United States and allied organizations abroad attempting to establish international fair labor standards run up against traditional notions of sovereignty in formulating national labor policies and development strategies. In the same way that entrenched sovereignty principles gradually yielded to international human rights claims after World War E, sovereignty is now being challenged by claims of international laborrights in the field of employment standards and industrial relations. This Article seeks to illuminate this challenge to sovereignty in two case studies of labor rights advocacy. Part I sets the stage with an overview of the growing …

Are Savings Working For Zambia’S Growth?, Chrispin Mphuka

Zambia Social Science Journal

This article analyses the effect of savings on economic growth in Zambia. Using vector auto regression, the article finds that economic growth ‘Granger’ causes domestic savings. This goes contrary to the neoclassical theory on the relationship between economic growth and savings. However, the article argues that a case of increasing domestic savings mobilization holds on the premise that doing so may influence growth indirectly by attracting partnerships with international capital thereby helping to inject new technology in the economy which is undoubtedly vital for growth. The argument is strengthened further by observing that East Asian countries have grown faster than …

How Does Income Inequality Affect The Growth Of U.S. Counties?, Jeremy Roth

Economics Honors Projects

This paper aims to conduct a precise test of the political economy hypothesis linking income inequality and economic growth. By choosing covariates from a detailed county-level dataset and assuming that U.S. counties experience perfect capital mobility, I shut off the four possible channels linking inequality and growth other than political economy. This is a first in an empirical literature that has reported conflicting findings with observations of states and countries. I also present thematic maps to illustrate the cross-county variation in key growth determinants that is masked by state-level studies. My econometric tests find a negative association between the initial …

Economic Growth And Social Development, Janelle Jones

Master's Theses - Economics

The goal of this paper is to examine the relationship between economic growth and social development. The paper looks at the effect of changes in national income in a country on social development of the citizens. Other factors like democratic characteristics and government stability are also considered at a secondary level. Although the main focus is on annual cross-country data for the period 1996-2006, estimates for shorter subperiods are also considered. The role of income relative to 16 proxies for social development is studied, and simple regression models are estimated through the fixed-effects format and also by using instrumental variables. …

The Role Of Entrepreneurship In Economic Growth, Daniel Smith

Undergraduate Economic Review

This study confirms that the level of entrepreneurship in a given country has a significant positive effect on the level of economic growth in that country. Contrary to some established theories, this study has found evidence that the level of entrepreneurship in a given country is not explained by the levels of the traditional causes of economic growth in that country (specifically the amounts of labor, capital, and knowledge that a country possesses as well as the presence or absence of market friendly government policies). Instead, entrepreneurship acts as an independent factor.

Reducing The Impact Of Ethnic Tensions On Economic Growth – Economic Or Political Institutions?, Atin Basu Choudhary, Jim Bang, Michael Reksulak

Atin Basu Choudhary

We use a standard growth regression model and show that ethnic tensions reduce per capita growth rates. We also find evidence that “good” economic and political institutions improve per capita growth rates. More importantly, good economic institutions mitigate the effect of ethnic tensions on per capita growth while good political institutions do not. Consequently, it is foremost capitalist freedom that promotes peace and development.

Innovation And Entrepreneurship: The New Drift In Federal Policy, Mark Muro

Brookings Scholar Lecture Series

Several defining characteristics will shape the post‐Great Recession economy:The “next” economy will be export‐oriented, lower‐carbon, and innovation‐fueled The next economy will also be metropolitan‐led:Which means regions belong at the center of national innovation and entrepreneurship policy. There is no single American economy, but a network of 366 metropolitan economies that compete with other economic regions around the world

Reclaiming Prosperity: Repositioning Southern Nevada For The Next Economy, Bruce Katz

Brookings Scholar Lecture Series

The outlines of the next American economy are coming into focus, yet the future remains uncertain in Southern Nevada as America's newest metropolis labors through a major recession. It is time therefore to get back on track and begin laying the foundation for a new and more durable kind of growth in metropolitan Las Vegas and across the Intermountain West. To help with that, urban visionary Bruce Katz advanced a powerful depiction of the next American economy in a major UNLV lecture and articulated a bold agenda for helping Las Vegas reclaim prosperity in the new era.

Las Vegas As The American Milan: Economic Growth In The World Economy, Robert E. Lang

Brookings Scholar Lecture Series

Milan as a Metaphor:
- Milan Makes Stuff and is a Tech City
- Milan’s Specialty as a World City is Design and Trade
- Milan is Not a Museum—Unlike Some Other Italian Cities that have Inspired Las Vegas such as Venice and Florence
- Design Needs Flair—We Got Plenty of That and it Plays to a Key Strength

A Welfare Economic Analysis Of Labor Market Policies In The Harris-Todaro Model, Gary S. Fields

Gary S Fields

This paper presents a welfare economic analysis of the benefits of various labor market policies in the Harris-Todaro labor market model. The policies considered are a policy of modern sector job creation, which I call modern sector enlargement (MSENL); a policy of rural development, which I call traditional sector enrichment (TSENR); and a policy of wage limitation in the urban economy, which I call modern sector wage restraint (MSWR). First, I analyze the inequality effects of these policies. I then perform two welfare economic analyses, the first based on summary measures of labor market conditions (total labor earnings, unemployment, inequality …

Funded Contributory Pension Scheme, Financial Deepening And Economic Growth: What Does The Evidence Say So Far About The Nigerian Economy?, Victor O. Asekunowo

Bullion

The fully funded defined contributory benefit pension system was introduced in Nigeria in July, 2004 to replace the old fiscally unsustainable defined benefit (Pay-As-You-Go) pension system. The new pension scheme, coming at the heels of earlier reforms in Nigeria's financial sector, could be deemed to serve as a further boost towards savings mobilisation, increased financial instruments acquisition and economic growth. After a survey of relevant literature was conducted, secondary data on relevant macroeconomic indices in the Nigerian economy were collected. The data were descriptively analysed. The results showed that TDS (total domestic savings) increased during the post-pension reform period and …

The Next Las Vegas Boom, Robert E. Lang

Brookings Scholar Lecture Series

The Great Recession—Where are We Now?

- U.S. Employment

- U.S. GDP by Type

- U.S. Household Net Worth

- U.S Retail Sales

How Does Foreign Direct Investment Affect Growth In Developing Countries? An Empirical Investigation, E. M. Ekanayake, John R. Ledgerwood

Publications

This paper analyzes the effects of foreign direct investment on the economic growth of developing countries. The study uses annual data on a group of 85 developing countries covering Asia, Africa, and Latin America and the Caribbean for the period 1980-2007. We explore the hypothesis that foreign direct investment can promote growth in developing countries. We test this hypothesis using panel data series for foreign direct investment, while accounting for regional differences in Asian, African, Latin American, and the Caribbean countries as well as the differences in income levels. While the findings of previous studies are generally mixed, our results …

Intra-Provincial Inequalities And Economic Growth In China, Joanna Gravier-Rymaszewska, Joanna Tyrowicz, Jacek Kochanowicz

Joanna Tyrowicz

This paper approaches the problem of inequalities in China. It is specifically focused on analyzing the effects of intra-provincial disparities on the development of the 28 mainland provinces in China. Intra-provincial inequalities, as measured by Theil index, seem positively related to growth, albeit the results are only convincing for the coastal provinces. A case by case analysis, however, suggests highly diversified patterns, including linear or an inverted u-shape for fastest growing coastal provinces and virtually no relationship for the majority of regions. The results corroborate some earlier raised questions about actual policy-making standards in China.

The Defense-Growth Relationship: An Economic Investigation Into Post-Soviet States, Bruce D. Mcdonald Iii, Robert J. Eger Iii

Bruce D. McDonald, III

An important question stemming from the collapse of the Soviet Union is how defense spending has influenced the economic performance of the 15 member states since their establishment as market economies. This study furthers the understanding of the relationship between defense spending and economic growth using data from the states of the former Soviet Union from 1992 to 2007. A nonlinear production function was used for direct effects, and models of investment and employment were employed for indirect effects. Contrary to expectations, the findings show that continued reliance on the defense sector in post-Soviet states has helped overall economic growth. …

Moral Markets: The Critical Role Of Values In The Economy By Paul J. Zak (Book Review), Jonathan B. Wight

Economics Faculty Publications

This volume contains the fruits of a two-year seminar on ethics and economics funded by the John Templeton Foundation and administered through the Gruter Institute for Law and Behavioral Research. Participants came from the social sciences, natural sciences, and humanities, and included Nobel Laureate Vernon Smith and other figures such as Frans de Waal, Herbert Gintis, Robert Frank, and Robert Solomon (for whom the book is dedicated in memoriam). The book’s editor, Paul Zak, is a pioneer in the emerging field of neuroeconomics, which uses medical technology to discover the physiological manifestations of cooperative and altruistic behavior. A theme of …

Globalization And Economic Growth In Sub-Saharan Africa, Hadiatou Barry

Gettysburg Economic Review

This study analyzes Sub-Saharan Africa through the framework of globalization. The study‘s objective is to determine whether globalization is a significant factor when associated with economic growth in the region. Using panel data from 1995-2005 for 41 countries and the KOF globalization index, an Ordinary Least Squares (OLS) model was employed to examine the relationship between globalization and other traditional factors of economic growth such as trade, foreign direct investment, loans, aid, natural resources, corruption, and rule of law. The study shows that globalization has a positive, though statistically insignificant impact on the economic growth of Sub-Saharan Africa. However, globalization …

An Empirical Analysis Of The Interactions Between Environmental Regulations And Economic Growth, Chali Nondo, Peter V. Schaeffer, Tesfa Gebremedhin, Jerald J. Fletcher

Regional Research Institute Working Papers

The purpose of this research is to examine the relationship between environmental regulation and economic growth. A four-equation regional growth model is used to analyze the simultaneous relationships among changes in population, employment, per capita income, and environmental regulations for the 410 counties in Appalachia. Our results reveal that initial conditions for environmental regulation are negatively related to regional growth factors of change in population, per capita income, and total employment. From this, we infer that the diversion of resources from production and investment activities to pollution abatement is inadvertently transmitted to other sectors of the economy—thereby resulting in a …

A Dynamic Shift Share Analysis Of Economic Growth In West Virginia, Janaranjana Herath, Tesfa Gebremedhin, Blessing M. Maumbe

Regional Research Institute Working Papers

A regional economy consists of industries with a variety of economic potentials. A growth or decline in any of these sectors affects the overall growth of the economy. Analysis of economic growth by sector of a particular region helps policy makers, community leaders and researchers in better decision making and problem solving. This study attempts to analyze the employment growth pattern and policy implications in the economic development of West Virginia using a dynamic shift share analysis. The study uses employment data for 38 years from 1970 to 2007 for the empirical analysis. Results indicate that agriculture, mining and manufacturing …