Economics Commons^™

Are Price-Earnings Ratios Mean Reverting? An Empirical Study, Kevin Klassen

Gettysburg Economic Review

Mean reversion in stock prices is a highly studied area in the financial literature with controversial findings. While some economists have found evidence of mean reverting processes in stock prices, many argue in favor of the Efficient Market Hypothesis which states stock prices are random walk processes. This paper seeks to add to the literature on mean reversion but testing for evidence in price-earnings ratios rather than stock prices. The study employs a robust regression model controlling for company-specific and general market factors that influence price-earnings ratio deviations. After correcting for heteroskedasticity, serial correlation, and unit root processes, the results …

Blockchain Technology - China's Bid To High Long-Run Growth, Tyler J. Mann

Gettysburg Economic Review

Despite having the second largest economy at $13 trillion, China has only recently surpassed the World Bank’s definition of the ‘middle-income range’ which is a gross national income per capita between $1,000 to $12,000 (constant 2011 international $). This is a noteworthy accomplishment since many other developing nations have fallen victim to economic stagnation within this range leading to the term “middle-income trap”. This paper will argue that one of the ways in which China escaped the middle-income trap and will continue to grow its economic influence is through the support of blockchain technology. Research and development, early technological adoption …

Corruption And South American Public Health Governance: A Panel Data Analysis, Richard Mydland

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates high income South American countries and their Corruption Perception Index ranking compared to their public health economic variables alongside other macroeconomic variables. The study takes into account that each country is different by means of economic nature due to geographic location. Countries with a natural resource curse are different from traditionalist economic countries. The model examines the implications of a corruption ranking along with health and macroeconomic data that is strongly correlated with decreasing or increasing returns to scale.

New Jersey Urban Enterprise Zone Program Assessment 2019, Thomas Edison State University, Pel Analytics, Anderson Economic Group, The John S. Watson Institute For Public Policy

Urban Mayors Policy Center

In 2019, the State of New Jersey sought an evaluation of its Urban Enterprise Zone (UEZ) Program to determine the program’s economic impact and make recommendations for the program’s future. The John S. Watson Institute of Public Policy of Thomas Edison State University joined with PEL Analytics and Anderson Economic Group to produce the following study. The main recommendation of this analysis is to retain the UEZ Program while instituting various changes to make it stronger. Recommended changes in brief include reinstating some form of Zone Assistance Funds (ZAFs), creating a better system to collect data and track outcomes, assisting …

The Glass-Cliff And Usa Politics: Are Women Set Up For Failure?, Amber Marin

Empirical Economic Bulletin, An Undergraduate Journal

This study investigates the hypothesis that the glass cliff exists in Senate races for the United States in 1998, 2004, 2010, and 2016. It compares the effects to anecdotal situations focusing on Brexit. The results of the study find validity in glass cliff hypothesis.

Does Growth Have A Price Tag? Foreign Aid’S Effect On Economic Growth In Africa, Andrew Berghahn

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the linkage between Official Development Assistance (ODA) received by African countries and the growth of GDP per capita within those nations. This study uses fixed and random effects to explore to ascertain the effects of increasing the amount of ODA received in relation to the country’s GDP. The results from this analysis show that there is a clear negative impact on country’s GDP per capita as ODA increases in relation to total GDP.

Short-Run Health Consequences Of Retirement And Pension Benefits: Evidence From China, Plamen Nikolov, Alan Adelman

Justice & Well-Being Studies Faculty Scholarship

This paper examines the impact of the New Rural Pension Scheme (NRPS) in China. Exploiting the staggered implementation of an NRPS policy expansion that began in 2009, we used a difference-in-difference approach to study the effects of the introduction of pension benefits on the health status, health behaviors, and healthcare utilization of rural Chinese adults age 60 and above. The results point to three main conclusions. First, in addition to improvements in self-reported health, older adults with access to the pension program experienced significant improvements in several important measures of health, including mobility, self-care, usual activities, and vision. Second, regarding …

The Republic Of Macedonia: Factors Of Economic Growth, Kevin J. Morris

The Corinthian

This article provides an analysis of the obstacles to economic growth faced by the Republic of Macedonia and provides policy recommendations to address these issues.

Financial Crisis And Bank Lending Behavior In Nigeria, Michael A. Oyakojo

Electronic Theses and Dissertations

Bank lending is an important monetary policy transmission channel with significant impact on economic growth in Nigeria. The research was conducted to test the hypothesis that given the Central Bank of Nigeria (CBN) / government financial intervention, there is a significant increase in the lending behavior of Nigerian bank during and post 2008 financial crisis. Total loan ratio is the proxy for bank lending behavior while the dependent variables are bank specific characteristics like total assets, core deposit ratio and macroeconomic variables like the 91-day Treasury bill rate and inflation rate.

Using the fixed effects regression technique, it was observed …

State Of The Northwest Arkansas Region 2019 Report, Mervin Jebaraj, David Sorto

State of the Northwest Arkansas Region Report

The State of the Northwest Arkansas Region Report is an annual publication, commissioned by the Northwest Arkansas Council, that serves as a tool for evaluating economic performance. In July 2018, the Northwest Arkansas Council created a new blueprint for development that outlines the peer regions and a strategic action agenda for 2018-2021. In this plan, the performance of Northwest Arkansas is benchmarked with other contemporary, high-performing regions, namely Austin, Des Moines, Madison, Durham-Chapel Hill, Raleigh and Provo-Orem. The 2019 State of the Region Report compares Northwest Arkansas with these geographies in the areas of gross domestic product, employment, unemployment, establishment …

Economic Growth As It Relates To Women’S Labor Force Participation In The Lac, John Esher

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the dependence of economic growth in the LAC and the relationship between Women’s Labor Force Participation and growth in production and total GDP. This study is the incorporation of information and data from the LAC into a Solow Growth Model to examine the influence of participation on the GDP per capita of the region. Increases in GDP per capita are modeled by using the differences in current GDP per capita against the GDP after women’s participation is increase to the same level to men’s. The results show that if women were to actively participate in the labor …

Esg Scores Impact On The Market Value Of The Stock, Michelle Quinn

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the effects of the ESG scores on a firm’s stock valuation, using the Tobin’s Q ratio. This study will incorporate both the ESG index as a whole and the individual factors: environmental, social and governance to consider the firm’s corporate social responsibility. This model uses the Tobin’s Q measurement to evaluate if the stock is over or undervalued while including the size, risk, and development within the firm. The paper found that there is little significant evidence to prove that there is a relationship between the ESG scores and the valuation of the stock, but there is …

Effects Of Private And Public Health Expenditure On Health Outcome, Hyungue Lim

Empirical Economic Bulletin, An Undergraduate Journal

The current level of health spending in the U.S. is the highest in the world. However, the outcomes of the health spending are among the lowest for developed countries. Therefore, for policy development purpose, it is necessary to determine which direction of healthcare spending results in better output, private or public. This paper investigates the effect of private and public health expenditure on life expectancy, infant mortality at birth, and infant mortality under age 5 among 11 OECD countries. Hausman test is performed to confirm the fixed effects models. Fixed effects GLS and GMM are used for data analysis. We …

What Is Driving Up Health Care Costs? Does Pollution Play A Role: Oecd Country Panel Data Analysis, Sean Gillis

Empirical Economic Bulletin, An Undergraduate Journal

This study investigates the rising health care costs among nine OECD nations from 1990 to 2014. A panel data analysis was conducted to analyze specific causes for these rises. Total health care expenditure is the dependent variable with carbon dioxide emissions being the main variable of interest. Analysis finds that the economy has grown faster than health care expenditures, and a negative relationship between CO2 emissions, elderly populations, urban population growth rates and health care expenditure.

Causality Relationship Between Income Inequality And Life Satisfaction In European Countries: Does Income Inequality Affect Life Satisfaction?, Rodrigue Beleho Balemaken

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines the interaction between life satisfaction and income inequality in European nations from 2006 to 2016. The keys finding of the analysis and the results show that countries that promote collectivism tend to have people with higher life satisfaction than countries which promote individualism. In general, individuals prefer to live in a country where they have stable disposable income, freedom in the way they are thinking, trust in their government and policies, a healthy life expectancy, and social support and generosity from peers. With this in mind, it raises the question, “where does income inequality fit into this?” …

Fdi & Crime In South America: A Panel Data Analysis, Casey Doyle

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the relationship between flows of FDI into South America and how it affects crime and how crime affects FDI. The paper incorporates a fixed effects model within an FDI model to examine how flows of FDI from foreign countries into South America impact crime in these countries. This study will use ten countries from South America in a panel data set from 2010 to 2016 that have different FDI intakes and crime rates. This is so that a well-rounded picture can be seen.

Salary Dispersion And Team Performance In Major League Baseball: A Quantile Regression Analysis, Shane Vyskocil

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the relationship between salary dispersion and team performance in Major League Baseball. Player salary data is collected to calculate each team’s annual Gini coefficient from 1998-2016, which is used to represent a team’s level of wage inequality in a given year. The study incorporates a fixed and random effects model, and distinguishes itself from previous research by employing multiple quantile regressions to analyze how the impact of salary dispersion differs depending on a team’s performance level. The results find that the fixed effects model is preferred, and that there is consistently a negative relationship between wage differentials …

Figuring Out Aid: The Determinants Of Foreign Aid To Subsaharan Africa In The Post-Cold War Era, Soala Ekine

Empirical Economic Bulletin, An Undergraduate Journal

I investigate the determinants of foreign aid to Sub – Sahara African countries. I look at the post – Cold War era following Bandyopadhyay and Wall (2007). The independent variables of interest are GDP per capita, infant mortality, population, civil and political rights and also government effectiveness. I control for fixed effects to allow for political, strategic and other reasons donors have and use data from the World Bank from 1995. My results show that in the post-Cold War era, government effectiveness and population are statistically significant in explaining net official and development aid and assistance. A population bias is …

The Effect Of Environmental Change On Gdp, Jackson V. Barliant

Writing Across the Curriculum

Climate change is one of the most debated topics of the 21^st century. Not only has it been detrimental to our eco-system, but it is beginning to redefine and reshape society. Can the U.S. economy continue to flourish while acknowledging the necessary steps that need to be taken in regard to combatting climate change? Yes, the inherent change within our environment due to climate change can not only be withstood by our economy, but it presents an opportunity to revolutionize and expand through innovation.

Did Dr-Cafta Affect The Exports Of The Dominican Republic To The United States?, Maria Ivanova Reyes Peguero, Asger V. Hansen

Economics Faculty Publications

This article evaluates the impact the Dominican Republic and Central America Free Trade Agreement (DR-CAFTA) had on the exports of the Dominican Republic (DR) to the United States. We estimate a gravity model for the DR exports to the 109 trade partners of the country from 1990 to 2014. This model quantifies the effect of the DR-CAFTA since 2007, when the agreement was ratified, and finds that the DR-CAFTA negatively affected DR exports to the US. We conduct further analysis of factors that could explain the decline in exports, in spite of the ratification of the agreement. We find that …

Globalization And Social Spending: Lessons For India, Ansh Jain

Honors Program Theses

As developing countries increasingly integrate themselves into the global economy, increased social spending is desirable to protect their vulnerable groups from rapid changes experienced by the economy associated with increased openness. However, while developed nations are largely successful in maintaining and increasing their social spending as a response to globalization, the case with developing countries is usually the opposite. We find that key determinants of this divergence between developing and developed countries stems from factors such as the extent of surplus and informal labor, quality of democracy and democratic institutions, and the power of unions. As India further integrates into …

A Mobile Solution To Drug Prescription And Dispensation With Privacy Protection For Developing Economies, Kingsley C. Nwosu

Journal for the Advancement of Developing Economies

It is unarguable that many countries within the developing economies have not been able to reap many of the benefits from the innovations in Computer and Information Technologies (CIT) as they pertain to the advances in healthcare delivery systems. The contributing factors to the problems in these countries are multifaceted, such as, ethnic, cultural, environmental, governance, and infrastructural. To address these problems, current efforts have focused mostly on the issues of disease control and management. However, insufficient attention has been given to the concomitant problems of medication (drug / prescription) management especially as they relate to information management between patients, …

Determinants Of Cost Of Treating Water-Borne Diseases Among Rural Households In South West Nigeria, Alaba M. Dare, Idris A. Ayinde, Adebayo M. Shittu, Sammy O. Sam-Wobo, Sakiru O. Akinbode

Journal for the Advancement of Developing Economies

This study determined the factors that influence the economic burden of water-borne diseases and the associated financial cost for rural households in southwestern Nigeria. A multi-stage random sampling method was used to select four hundred and thirty-seven rural households from whom data were collected for the study. Data were analyzed using descriptive statistics and cost of illness approach. The results revealed that an average household had six members with an average quarterly income of N80,717.52 (N160.00 = 1US dollar, at time of study). The sum of N28,571.36 was incurred as economic cost of water-borne diseases per household per quarter in …

All For One Or Each For Her Own: Do Polygamous Families Share And Share Alike?, Kristin Mammen

Journal for the Advancement of Developing Economies

This paper examines whether the mother’s rank (whether she is a senior or junior wife) in polygamous households in Côte d’Ivoire injects favoritism that could lead to differential investment in children (based on mother’s rank), a concern that could cause an inefficient allocation of household resources. The hypothesis is that the younger is a junior wife relative to the senior wife, the greater favoritism she will receive from the husband, and the better her children will fare. This question is analyzed employing Ordinary Least Squares on a Living Standards Measurement Survey microdataset collected by the World Bank. An interesting pattern …

Credit Constraints And Agricultural Productivity Of Rural Households In Nigeria, Olugbenga K. Omolade, Abimbola O. Adepoju

Journal for the Advancement of Developing Economies

This study, employing descriptive statistics and the Endogenous Switching Model, examined the link between credit constrained condition and agricultural productivity of rural households in Nigeria. Findings show that under credit constrained condition, education, labour, technology and other production inputs were not optimally utilized by the households. Credit constrained households had lower productivity than a random household from the sample would have had. However, in credit constrained households, being a male-headed household implied higher productivity. On the other hand, high value of assets and cost of hired labour had negative effects on productivity, while level of education and access to information …

Economic Impact Of Ethanol Biorefineries In The U.S. Midwest From 2001 To 2015: A Quasi-Experimental Approach, Scott W. Hall

Theses and Dissertations--Agricultural Economics

The objective of this dissertation is to analyze the economic impact of newly operational ethanol biorefineries on rural counties in the U.S. Midwest region for the period 2001 to 2015 using a quasi-experimental approach. Rapid growth in the ethanol industry expanded the number of ethanol plants located in the U.S. Midwest from 54 in 2001 to 173 in 2015. Out of the counties with 119 new ethanol biorefineries, 97 counties met the general treatment criteria defined in this dissertation, but only 56 of those counties qualified for the rural treatment criteria. Counties with ethanol biorefineries that qualified for treatment were …

Institutions, Trade, And Economic Prosperity: An Examination Of The U.S. And Mexican States, Dean Stansel, Meg Patrick Tuszynski

Mission Foods Texas-Mexico Center Research

We provide the first subnational-level examination of the relationship between the presence of policies and institutions that are consistent with economic freedom and trade volume. To do so, we create a new comprehensive dataset detailing export activity between each U.S. state (that is, for the volume of trade between Texas and Oklahoma, Texas and New Mexico, etc.) and between each U.S. state and each Mexican state (Texas and Chihuahua, Texas and Coahuila, etc.). Our empirical strategy allows us to explore what effect institutions have on both interstate trade and cross-border trade, and also what impact the national border has on …

Trade Reforms And Integration Of Cocoa Farmers Into World Markets: Evidence From African And Non-African Countries:, Komi Tsowou, Samuel K. Gayi

Journal of African Trade

No abstract provided.

Coordination Costs, Market Size, And The Choice Of Technology, Haiwen Zhou

Economics Faculty Publications

Impact of coordination costs and market size on a firm’s choice of technology is studied in a general equilibrium model in which firms engage in oligopolistic competition. A firm establishes an organizational hierarchy to coordinate its production. First, it is shown that an increase in market size leads a firm to choose a more specialized technology. Second, surprisingly, a robust result is that an increase in the level of coordination efficiency leads a firm to choose a less specialized technology.

Assessing The Potential Impacts Of The Tax Reform For Acceleration And Inclusion And The Build Build Build Program, Caesar Cororaton, Marites Tiongco, Justin S. Eloriaga

Angelo King Institute for Economic and Business Studies (AKI)

The Tax Reform for Acceleration and Inclusion (TRAIN) Act has prompted key changes in the personal income tax regime through excise taxes on most goods such as petroleum, sugar-sweetened beverages, and automobiles. The TRAIN was implemented to generate funds for the Build Build Build (BBB) program and at the same time to address income inequality and poverty. This paper aims to assess the potential growth, poverty, and distributional effects of the TRAIN Package 1 and the BBB Program using a computable general equilibrium model with poverty simulation. Results suggest that TRAIN I has prompted additional revenue in social programs and …