Social and Behavioral Sciences Commons^™

Revolutionizing Lithium Extraction: Analysis Of Factors Affecting Commercialization Timelines With Insights From The Shale Gas Boom, Bilge Tayyar

CMC Senior Theses

This study draws parallels between Direct Lithium Extraction (DLE) and hydraulic fracturing to highlight the transformative potential of DLE technology in the lithium industry. The comparative analysis supports the hypothesis that DLE might expedite commercialization timelines, similar to the effect hydraulic fracturing has had on traditional shale gas extraction. The study includes a regression analysis to determine the factors affecting the commercialization of conventional lithium brine extraction methods, thereby better understanding the potential changes DLE will create. The regression model, based on data from 11 projects, examines the impact of variables such as temperature range, tax rates, royalty rates, regulatory …

Capturing Value In Emerging Markets: A Real Options Perspective On Resilience And Risk, Alexander Castillo

CMC Senior Theses

This paper examines the evaluation of investment opportunities in emerging markets (EMs) through real options analysis, against the backdrop of their unique risk profiles and the recent trend of EMs exhibiting resilience in economic performance. While EMs are associated with high growth rates and infrastructure gaps, they have shown adaptability, particularly in monetary policy responses to inflation. This paper explores the sensitivity of net present value (NPV) and real options (RO) to changes in the capital asset pricing model, adapting the yield spread to capture default risk and local risk-free rates. Utilizing oil benchmark price data, the paper constructs a …

Finding Answers In Gaps: The Relationship Between Drugs And Mexico's Economy, Mariela Centeno

CMC Senior Theses

This paper sets out to understand the economic conditions that paved the way for the evolution and resilience of a powerful and resilient drug economy in Mexico. To do this, I examine the relationship between a proxy for drug movement from Mexico and large economic variables in the country. I use a dataset that incorporates the drug seizures from 1997 to 2022 to understand whether privatization and the resulting rising economic inequalities in Mexico paved the way for a growing drug economy. This paper builds on current literature regarding drug market estimates and drug economy interactions. Using an OLS regression …

Did Demonetization Have A Bigger Impact On Ppis (Prepaid Payment Instruments) Or Mobile Banking In India?, Ansh Vora

CMC Senior Theses

On November 8, 2016, Narendra Modi, prime minister of India, tele-advertised the entire nation and announced that India's highest value banknotes, the 500 and 1000 rupee “Rs” notes would be demonetized and taken out of circulation, effective midnight. Modi stated that this is an effort to reduce the large economy of black money, transition India into a digital economy, abolish funding of terrorist groups and illicit circulation of counterfeit notes. In this study, I choose to analyze the impact of demonetization on two digital payment methods - Prepaid Payment Instruments, “PPI” and Mobile Banking. The data used in this study …

The Paycheck Protection Program's Effect On Real Estate Prices, Someswar Amujala

CMC Senior Theses

This paper investigates the relationship between the Paycheck Protec- tion Program (PPP) and real estate price increases. The Paycheck Protection Program was established by the Small Business Association in 2020 to pro- vide forgivable loans to businesses to aid with potential losses from COVID- 19 impacts. I leverage zip code level data across the United States and a fixed effects panel data model to quantitatively measure the PPP’s influence on housing and rental prices. I find a positive and significant relationship between the number of PPP loans disbursed and housing and rental rates. Specifically, a 1% change in the number …

The Effect Of Free Trade Agreements On Innovation: Evidence From Us Bilateral Free Trade Agreements With Australia, Chile, Singapore, And South Korea, Cameron Stevens

CMC Senior Theses

This paper combines two datasets to identify the effect of joining a bilateral Free Trade Agreement with the United States on innovation in four select countries: Australia, Chile, Singapore, and South Korea. Using an probability concordance developed by Lybbert and Zolas (2014), I map the number of patents recorded by the World Intellectual Property Organization (WIPO) into four digit North-American-Industry-Classification-System (NAICS) codes, which are then combined with industry level trade data from the US International Trade Committee (USITC). Using a difference-in-differences regression model, I estimate that joining an FTA increases the number of annual patent filings by 44 in a …

Understanding Financial Inclusion: A Comparative Analysis Of Financial Mechanisms In Uganda, Amari Huang

CMC Senior Theses

Financial inclusion is a critical means of empowering individuals to improve their own lives, and Uganda provides an excellent case study for examining various financial mechanisms in a developing country context. This thesis investigates four such mechanisms: formal banks, microfinance institutions, mobile money, and contribution clubs. The analysis is conducted using five criteria to evaluate their level of inclusion: (1) quantitative coverage, (2) standard of living, (3) gender, (4) education, and (5) social capital. The findings of this research suggest that the examined financial institutions can be seen as steppingstones, with each leading to the next, from contribution clubs to …

Rural Development In Papua New Guinea: Mining, Logging, Agriculture, And Alternatives, Tj Askew

CMC Senior Theses

This thesis examines multiple approaches to providing rural, indigenous Papuans with improved social services and economic opportunities. Rural Papuans, who make up 80 percent of the population, face below average rates of nutrition, education, disease, crime, and other quality of life indicators. Due to location, land use rights, lack of infrastructure, and minimal access to economic markets, the PNG government has struggled to provide rural communities with basic social services. Historically, the development of resource extraction projects such as mining, logging, and agriculture have been the main strategies used to improve the livelihood of rural Papuans, with limited success. This …

Migration And The Quality Of American Cities, Chase Mendell

CMC Senior Theses

Across the United States, cities are expanding. It is the role of the city leaders to promote policies that benefit both current and incoming residents. While these policies have intended results, the realized benefits and damages are challenging to define because they are the result of individual choices and the unique characteristics of the city. As a result, policymakers need to consider a complex web of factors such as employment, taxation, housing, mobility, and environmental quality. This thesis seeks to analyze these overlapping factors to discuss how policymakers can increase well-being while mitigating potential harms.

Disembedded Liberalism: The Global Pressure On Democracy, Hallie Spear

CMC Senior Theses

The international political order is at a crossroads with divergent paths. Liberal democracy is once again threatened on the international stage. What's more troubling is that the most stable and influential democracies, the United States, those in Europe and India, seem to be vulnerable to the autocratic wave sweeping through the world. This thesis completes a critical analysis to understand the root causes of the recent disruption to democracy the world has observed. Focusing on three established, diverse, and populous democracies, this thesis investigates the economic conditions at play that made each nation vulnerable to populism. Neoliberal economic policies implemented …

Trickle Down Nationalism: Interactions Between Liberal Nationalism And Colonialism In The Raj And Nigeria, Aaryaman Sheoran

CMC Senior Theses

The combination of nationalism and colonialism has remained understudied in academia, despite the important interaction between the two phenomena. European ideas bled over into their colonial empires and began to fill the power vacuum created by colonial enterprises. This study analyzes the impact of British colonialism on the development of national identity in British India and Nigeria.

British influences included large scale economic disruption, cultural reform through ‘westernizing’ the population and abolishing local customs, and creating a new set of institutions to replace traditional power centers. Inevitably, these factors created a nationalist surge across both the Raj and Nigeria, as …

Healthy And Unhealthy Responses To American Democratic Institutional Failure, Thomas D'Anieri

CMC Senior Theses

I have set out on the hunch that politics in America “feels different,” that we are frustrated both with our institutions as well as with one another. First, I will seek to empirically verify this claim beyond mere “feelings.” If it can be shown that these kinds of discontent genuinely exist to the extent that I believe they do, I will then explain why people feel this way and why things are different this time from the economic, political, and social points of view. Next, I will examine two potential responses, what I will call the populist and the institutional …

The Impact Of Regional Return On Education On The Self-Selection Of Mexican Immigrants, Warren Chen

CMC Senior Theses

This paper uses the 2010 Mexican Population and Housing Survey to examine the role of regional return to education on migrant selection. The study uses a standard linear regression model to predict the educational attainment of migrants and compares it to the educational attainment of non-migrants in each Mexican State. It finds evidence of negative selection, that less educated Mexican citizens are more likely to migrate to the United States. It also finds little evidence of the impact of regional return to education on migrant selection. The study offers potential explanations for the lack of impact and suggests avenues for …

The Role Of Quality Education In The Economic Development Of Mexico, Betzayra Perez

CMC Senior Theses

Mexico’s education system ranks among the lowest in terms of quality and achievement levels. Given the importance of education for a country’s economic development, it is crucial to understand how improvements in Mexico’s education quality can result in economic growth for the country. This thesis aims to create awareness about how the quality of learning rather than total schooling can result in improving Mexico’s economic development. First, a general literature review provides significant findings of the quality of education, the difference between learning and schooling, and educational equity, and its effects on economic development. Moreover, a detailed overview of the …

Human Development And Subnationalism: A Disaggregated Analysis Of Indian States: Kerala And Uttar Pradesh, Manika Garg

CMC Senior Theses

This thesis investigates achievements in human development outcomes on health, education, and poverty indicators across Indian states, in order to discern what factors might influence a state’s better orientation toward social policies. After conducting data analysis, the study explains differences in outcomes, as achieved by Kerala and Uttar Pradesh, by building an argument of subnational solidarity and its impact on determining the state’s policy agendas.

Reaching The Unreached: The Role Of Information Communication Technologies On Agency Of Women In India, Suvena Yerneni

CMC Senior Theses

In this paper, I analyze the impact of Information Communication Technologies (ICTs) on female empowerment in India. In defining female empowerment, I consider the three dimensions of agency: social autonomy, economic autonomy, and mobility. Using nationally-representative data of 2012 from the Indian Human Development Survey (IHDS), I find that these information communication technologies, measured by ownership and use, have positive and significant impacts on female agency and decision-making abilities. I extend my analysis to two types of media: computers and mobile phones. These results persist even after accounting for the effects of education, income, and age of women.

The Role Of Conflict In Sub-Saharan Africa, Samy Lemos

CMC Senior Theses

Sub-Saharan Africa is the provider of many critical natural resources. With such resources, one would expect these countries to have thriving economies. Why is the opposite case true? To answer such a question, this paper examines a few critical causes that may justify the current economic situation these African countries are experiencing. Specifically, the paper observes the economic impact of civil war and terrorist conflict in sub-Saharan Africa from 1971 to 2016. To explore the changes in GDP per capita for all these years, this thesis sheds light on three independent variables: year of conflict, education level, and foreign direct …

Analysis Of The Economic Impact Of Constructing A Nba Arena On The Host City, Grant Gilchrist

CMC Senior Theses

Using economic data collected from 24 different Metropolitan Statistical Areas in the US, this thesis investigates the impact of constructing a new National Basketball Association (NBA) arena on the host city’s economy. When a simplistic model is implemented, which does not control for other economic factors or individual subject heterogeneity, significantly positive economic impacts of arena construction are observed. However, when a more appropriate model specification is implemented that controls for economic activity and individual heterogeneity, these effects are no longer statistically significant. This comparative analysis ultimately highlights the importance of appropriate model specification and supports the conclusion that new …

Why Not Mexico? Policy Recommendations For A Globally-Oriented Economic Strategy, Víctor Manuel Hernández-Rodríguez

CMC Senior Theses

Mexico, one of the world’s largest economies and an increasingly relevant actor in international affairs, is at a crucial point in defining its future policy course. Given the uncertainty surrounding the global economy, as well as the political situation in Mexico, it is important to have a clear vision for policy going forward. This thesis offers a foundation for a national economic strategy with a long-term vision, upon which future administrations can build as appropriate to maximize on the country’s economic potential. The task is undertaken through a three-part approach. First, a thorough and analytical overview of the country’s economic …

College As Capability Enhancement, Cristina Lee

CMC Senior Theses

In this thesis I wanted to apply the Sen’s framework in Development as Freedom to college campuses. In my experience at Claremont McKenna College, I have seen how some students are able to take advantage of the resources better than others. Given that we were all accepted by the same admissions office, I always questioned why did some students know how to take advantage of the system. In order to explore this, I first discuss Sen’s capability approach. Then, I show how the capability approach is more comprehensive than social networking theory and William Deresiewicz’s account on elite colleges. Finally, …

Degree Matters: The Impact Of A Leader’S Foreign Education On His Country’S Economic Development, Zhongyi Yu

CMC Senior Theses

I analyze the correlation between a nation leader’s foreign education experience and their nation’s GDP growth and economic freedom in African, Asian, and South American countries. There is a statistically significant correlation between a leader’s foreign education and the country’s GDP growth rate, especially in Africa. Data also shows that a leader’s foreign education is positively correlated with his country’s economic freedom. Despite the fact that the regressions can only demonstrate correlation as opposed to causation relationships among variables, further analysis of the results concludes that a leader’s education and the country’s development are reciprocal. The findings of this paper …

Institutional Development: Interpreting The Russian Case, Joshua W. Rooney

CMC Senior Theses

A fundamental question to both historians and development economists is why countries today are able to reach and maintain such starkly different economic outcomes. Popular explanations include geographic and climatological features, short-term policy decisions, and economic institutions. This paper looks at the importance of violence and social pressure in the transformation and conservation of political and economic institutions in Russia. It finds that several major historical legacies including serfdom, Mongol dominance, Orthodoxy, and authoritarianism significantly influence both the past a present institutional setting. Furthermore, such legacies have proven to be major obstructions to the emergence of economic liberalism.

Sustainable Mining For Long Term Poverty Alleviation In The Democratic Republic Of The Congo, Ellen Perfect

CMC Senior Theses

This thesis explores the poverty alleviation and peace-spoiling power of the mineral extraction sector in the Democratic Republic of the Congo to arrive at a set of strategic goals for the country moving forward. Although subterranean minerals are often a source or perpetuator of violence, the potential to lift the country’s rural communities out of extreme poverty makes the mining industry an essential part of the nation’s development strategies. Lessons from Tanzania, Côte d’Ivoire, Guinea, Ethiopia, Zimbabwe, Nigeria, Ghana, Zambia, Uganda and Sierra Leone to arrive at best practices for increasing the multiplier effect of large-scale mining, formalization, beneficiation, capital …

Restauración De La Diplomacia Y Sus Implicaciones: Los Próximos Pasos En Las Relaciones Entre Los Estados Unidos Y Cuba, Emily Chambard

CMC Senior Theses

This thesis explores the implications of the recent restoration of diplomatic relations between the United States and Cuba. Through historical analysis and discussion of the ‘Cuban Thaw’ beginning in 2009, it proposes certain courses of immediate and long-term action for both nations, but specifically the United States, to guarantee future collaboration and mutual gain. Its conclusions emphasize the unique nature of current circumstances, which have opened a window of opportunity never before seen in the history of US-Cuban relations. The causes are one, the succession of Fidel Castro by his brother, Raúl, who has already demonstrated more progressive policy action …

Conditional Cash Transfers And Their Effect On Poverty, Inequality, And School Enrollment: The Case Of Mexico And Latin America, Maria Romano

CMC Senior Theses

Over the past two decades, conditional cash transfer (CCT) has become one of the most widespread approaches to social development in Latin America. Spurred in large part by the evident and immediate success of Mexico’s CCT initiative, a multitude of countries began to invest heavily in this strategy hoping to reduce poverty and inequality in the short and long run. This paper examines the relationship between CCT program breadth and poverty, inequality, and secondary school enrollment over a thirteen year span in order to determine whether or not programs with the largest coverage were the most efficient. This question is …

Bitcoin: Implications For The Developing World, Makari Krause

CMC Senior Theses

Bitcoin has become notorious as the first cryptocurrency to gain widespread media attention, however, despite its many benefits over the existing financial system it remains a volatile fringe currency. This thesis examines the validity of bitcoin as a currency and whether it can play a role in circumventing extractive economic and political institutions in developing countries. The analysis compares bitcoin usage to the level of financial openness, the inflation rate, and the percentage of the population with a bank account in 21 different countries. The correlation is found to be both statistically and economically significant for all of these variables, …

A Critical Examination Of Oil Wealth Management Strategies And Their Effects On Economic Growth In The Gulf Cooperation Council Countries, Caroline J. Belmont

CMC Senior Theses

Despite their natural resources, the countries of the Gulf Cooperation Council (Kuwait, the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, and Oman) have failed to live up to their economic potential, primarily due to their dependence on a revenue source with volatile prices and political significance in an unstable region. This thesis argues that the best way to convert oil wealth into consistent long term growth is through diversification, both by investing in foreign assets and by growing domestic sectors that are independent from oil and gas prices. The research further investigates the primary tool these countries have used to …

How Cutting The Cost Of Using A Bank Affects Household’S Behavior Of Remittance Transfers: Evidence From A Field Experiment In Rural Malawi, Chuyuan Lu

CMC Senior Theses

Using a randomized experiment in rural Malawi, this paper finds that providing information on mobile bank buses’ services leads to a higher probability of adopting savings accounts in the treatment group. Households in the treated villages are 3.06 percentage points more likely to adopt savings accounts than households in the control group. Second, the information treatment leads to an increase of in the probability of households receiving remittances in the treated villages, as well as an increase in the amount of remittances received. In particular, the effect is strongest for households that lived at least three kilometers away from the …

An Analysis Of Education Reform In Sub-Saharan Africa, Katharine Eger

CMC Senior Theses

Sub-Saharan Africa continues to fall behind other developing regions regarding educational attainment, despite recent progress in enrollment. This thesis examines a variety of external conditional factors that could contribute to a country’s relative success, in terms of years spent in school using a prediction model that compares years enrolled in secondary education as a foundation to determine over- and under-performing countries in sub-Saharan Africa.

By exploring various educational policies, historical patterns, and projects executed in Rwanda, South Africa, Ghana, and Botswana, this thesis sheds light on four main challenges that can impact educational attainment: ethnic and racial tensions, an acute …

Escaping The Poverty Trap: Formal Savings And Asset Accumulation In Rural Malawi, Audrey Breitwieser

CMC Senior Theses

Formal savings accounts can be an effective device for households to accumulate assets over time and thus have more funds available to better afford an expensive one-time payment, in the form of either addressing an economic shock or paying for an important life event. I explore this relationship using a field experiment in rural Malawi conducted from 2008-2010, and find that adoption of a formal savings account has no effect on the frequency of economic shocks that a household experiences, nor does it affect how households respond to shocks. However, I find that account adoption does significantly increase the frequency …