Economics Commons^™

Royal Uncertainty: An In-Depth Analysis Of The Potential Affects Of Brexit On The U.K. Art Market, Ashley Solmer

MA Projects

The United Kingdom, most notably London, has been known on the international commerce scene as a pivotal trade center for many centuries acting as a stepping stone from Europe to the Western World. Even though the economic importance of London can be dated back to early times, the inherent popularity of its art market only began flourishing in the late eighteenth century, riding on the back of the already established, but restrictive, art epicenter in Paris. The rise and prominence of Paris’ art market from 17^th to 19^th century eventually came to an end at the heels of …

Impact Of German Sources Of Capital On The Namibian Economy, Vladimir Chlouba

Economics Honors Papers

This work examines the impact of German sources of capital on the Namibian economy. Two sets of equations are tested. The first set tests the effect that German development assistance and German capital goods have had on domestic GDP. The second set tests the effect of German development assistance on the Namibian government’s capital formation outlays. The German independent variables are subsequently compared to global sources of capital in order to determine whether the German sources demonstrate a comparatively higher significance. Furthermore, the effects of official development assistance are disaggregated by type to test for aid’s fungibility. This analysis enables …

The Effects Of Air Pollution On Education And Human Capital: Evidence From Chinese Cities, Niall Williams

Economics Honors Papers

No abstract provided.

Religious Heritages As Tools For Sustainable Economic Development: The Case Of Ireland’S Ecclesiastical Settlement Glendalough, Vreny Enongene, Kevin Griffin

Conference papers

Accelerating the shift towards a more sustainable sector are the priorities for the tourism industry (UNWTO, 2015). Therefore, it is against this background, that the United Nations general assembly has approved the adoption of 2017 as the international year of sustainable tourism for development, with the unique opportunity to advance the contribution of the tourism sector to the three pillars of sustainability, while raising awareness of the true dimensions of the sector which is often undervalued (UNWTO, 2015), in which the religious tourism sector is no exception. Nonetheless, within the religious tourism scholarship, the role tourism to religious heritages might …

Maritime Economics In A Post-Expansion Panama Canal Era, Grace W. Y. Wang, Wayne Talley, Mary R. Brooks

Economics Faculty Publications

(First paragraph) The 2016 opening of an expanded Panama Canal will allow for Post-Panamax containerships up to 12 500 twenty-foot equivalent unit (TEU) in size to transit the Panama Canal. In response, some US East Coast container ports are having their channels and berths dredged deeper—to allow Post-Panamax containerships from Asia (transiting the expanded canal) to call at their ports. What are the implications for the US West Coast ports? Will there be a cargo shift from West Coast to East Coast ports? These topics as well as the impacts of other changes in global shipping lanes (e.g., the Suez …

A Dynamic Model Of The Choice Of Technology In Economic Development, Haiwen Zhou, Ruhai Zhou

Economics Faculty Publications

In this overlapping-generations model, there is unemployment in the manufacturing sector. Manufacturing firms engage in oligopolistic competition and choose technologies to maximize profits. With capital as a fixed cost of production, increasing returns in the manufacturing sector exist. In the unique steady state, first, when individuals become more patient, the savings rate increases while the level of an individual’s income decreases. Second, an increase in population or percentage of income spent on manufactured goods does not change steady-state technology while the level of an individual’s income decreases. Third, an increase in the wage rate leads manufacturing firms to choose more …

Effects Of Relative Prices On Contributions To The Level And Growth Of Real Gdp, Jesus C. Dumagan

Angelo King Institute for Economic and Business Studies (AKI)

Existing procedures for GDP in chained or in constant prices ignore relative prices – ratios of industry GDP deflators to the economy’s GDP deflator – and, consequently, yield economically misleading results by understating (overstating) level contributions of industries with above (below) average relative prices, at the same time understating (overstating) growth contributions of industries with rising (falling) relative prices. These are illustrated by US GDP in chained prices and Philippine GDP in constant prices. However, the above misleading results could be mitigated by this paper’s general formulas for level and growth contributions applied to the same GDP. While allowing for …

The Effect Of Doctors Without Borders On Low- And Middle-Income Countries In Sub-Saharan Africa, Nathan Hayenga

Honors College Theses

This research studies the relationship between the activity of medical disaster-response humanitarian aid and the rate of growth in developing economies. Data of total annual GDP and Doctors without Borders (MSF) activity in 23 countries was analyzed over the years 2000-2014 with correlation and regression analysis. Under this analysis results are inconclusive, with a correlation of zero between MSF activity’s within a country and change in that country’s rate of GDP growth. A conclusive response was found on the comparison between GDP growth in countries MSF was active in compared to countries with no MSF activity, showing that countries in …

Modelling The Impact Of Fiscal Policy On Non‑Oil Gdp In A Resource Rich Country: Evidence From Azerbaijan, Khatai Aliyev, Bruce Dehning, Orkhan Nadirov

Accounting Faculty Articles and Research

This paper analyses the impact of public expenditures and tax revenues on non‑oil economic growth in Azerbaijan for the period of 2000Q1‑2015Q2 by employing OLS, ARDL, FMOLS, DOLS, CCR and Granger Causality techniques. Different cointegration methods result in consistent results. In this study, there is strong evidence of significant long‑run positive contributions from public expenditures to non‑oil sector output. Results also show that tax revenues significantly slow down non‑oil economic growth in the long run. Granger Causality analysis finds the existence of a bidirectional short‑run association between non‑oil GDP and public expenditures, while tax revenues Granger Cause both variables. The …

The Big Economic Development Project Question: Is It New Revenue Or A Spending Transfer?, Paul Harris, Ronald Berkebile, Julia Martin, Larry Filer

Economics Faculty Publications

Most local governments pursue some degree of economic development activity to strengthen their economy by adding jobs and generating tax revenue. Witness the growth in tax increment financing, property tax abatements, tax credits, and exemptions for economic development. These state and local incentives totaled more than $80 billion in 2012. Economic development projects can represent a significant boon for a local economy. Estimating how much money they might generate, however, is not as easy as it initially seems, and jurisdictions can receive far less net new revenue than developers predict. Most consumers have finite incomes, which limits their discretionary spending. …

Effective General Entrepreneurial Learning Programs For Sme Development, Paul Kenneth Steele

Capstone Collection

The principle objective of this paper is to reexamine the potential for impactful, general programs in education for Small and Medium Enterprise (SME) owners by assessing the success of a program called SME PRIME; conducted by AMIDEAST, Oman for six Omani entrepreneurs over a seven-month period.

General programs for entrepreneur education are produced and implemented the world over despite consistent assertions throughout academic literature that such programs are ineffective. Typical approaches to training program development and evaluation emphasize the critical role of training needs analysis. Training needs analysis is often an ignored step in the process of SME training program …

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 …

Causal Relationship Between Terrorism And Economic Indicators, Jenna Labarre

Empirical Economic Bulletin, An Undergraduate Journal

This study aims to understand the causal linkage between terrorism and various economic indicators such as Gross Domestic Product, Tourism, and Foreign Direct Investment by running a Granger Causality regression. The expected results will show that terrorism does indeed decrease or increase as a result of changes in these economic indicators. In order to test for Granger Causality a unit-root test will first be performed, followed by a cointegration test. The results show that each nation experiences a different causal relationship with each of these indicators. Inflation is the most significant causal indicators in terms of percentage of countries tested …

The Relationship Of Savings And Economic Growth In Developing Nations, Zachary Westner

Empirical Economic Bulletin, An Undergraduate Journal

The aim of this paper is to analyze the cause and effect relationship between economic growth and savings in developing countries. In this paper I used the co-integration model and the granger causality test which are typically used in finding the relationship between savings and economic growth. Before estimating the model, it was essential to determine the stationaries of the time series. To do so I used the ADF test (augmented dickey-fuller). The results confirmed the existence of a one-way causal relationship between Gross Domestic Savings and economic growth in developing nations.

How Trade Liberalization Affects Unemployment Under The Trans-Pacific Partnership: A Panel Data Analysis, Steven Brodeur

Empirical Economic Bulletin, An Undergraduate Journal

Between 1994 and 2000, NAFTA eliminated over 700,000 U.S. jobs from an increasing trade deficit. Will the TPP have similar detrimental effects? This study uses panel data to investigate the relationship between trade liberalization and unemployment among the TPP confirmed and interested signatories. The results show that a negative correlation exists between taxes on international goods and the net barter terms of trade index, indicating and ceteris paribus that the elimination of duties could result in a larger trade deficit for countries with comparably stronger currencies. Additionally, the fixed-effects GLS regression yields real exchange rates to be insignificant, supporting cheaper …

Responses To Change In The Global Political Economy Of Innovation – The Role Of Sub-National States In Industrial Transition, Dan Herman

Theses and Dissertations (Comprehensive)

This dissertation seeks to explore how sub-national levels of the state promote the development of new industrial sectors. To do so this dissertation builds on a series of theoretical perspectives on the role of the state in the economy and develops a unique view of how sub-national states coalesce and contrast within these perspectives. It does so through a series of empirical case studies focused on sub-national jurisdictions in North America that highlight diverse varieties of state actions that contribute, if not lead, industrial transitions and the development of new innovation-oriented industrial sectors. In so doing, the dissertation presents a …

Economic Assimilation For Immigrants In Chile: An Employment Convergence Analysis, Emily C. Long

Scripps Senior Theses

Blending migration studies and labor economics, this thesis explores the economic implications of immigrant assimilation in Chile by using probit models to test for employment convergence and labor market convergence between immigrant groups and native Chileans. Using census data from 1992 and 2002, we find significant differences in the employment and labor force participation rates for these demographic groups, affected by the immigrants’ gender, decade of arrival, and country of origin. We see evidence of the nascent care industry in Chile, as well as the implications of the Chilean visa system and employment contracts. Additionally, we see employment probabilities fall …

Young Scholars Initiative Conference, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Debating "Development": Day 1: open conference program (2016-04-22) by Young Scholars Initiative.

Monitoring The Philippine Economy Year-End Report For 2015, Mitzie Irene P. Conchada, Regina S. Villasor

Angelo King Institute for Economic and Business Studies (AKI)

The Philippine economy expanded by 5.9 percent for the year 2015, fortifying its status as one of the best economic performers in the region despite the difficult external environment and the onset of El Nino.

Life, Liberty, And The Pursuit Of Happiness: Measuring What Matters, Laura Musikanski, Carl Polley

Journal of Sustainable Social Impact

This essay focuses on ways in which the governments of Bhutan and the United Kingdom are measuring subjective well-being as well as on how other governments including Norway, Spain, China, Canada, and New Zealand, are exploring the development of subjective well-being indicators. It concludes with recommended actions to aid in the formation of a consistent and comparable subjective well-being indicator for use by governments globally. The third in a series for which the purpose is to provide information to grassroots activists to foster the happiness movement for a new economic paradigm, this essay builds on the previous essays, Happiness in …

Citizen Wellbeing And Gdp: Towards More Appropriate Measures Of Namibia's Success And Progress, Justine Braby Dr, Jessica-Jane Lavelle, Johannes Mulunga, Newman Nekwaya, Fikameni Mathias, Angula Angula

Journal of Sustainable Social Impact

Developing nations like Namibia are aiming to industrialize much like developed nations and use the gross domestic product to measure their progress. However, this development path has been largely unsustainable. For Namibia to develop into a sustainable society, a different approach is needed. This study aimed to find entry points toward such an approach. Surveys were conducted in Windhoek, Namibia's capital, to measure human well-being. Generally, as is expected in a developing country, well-being correlated positively along the income line. However, the indicators did illustrate that a more holistic measure would go a long way toward more effective development planning …

Empowerment And Subjective And Emotional Well-Being In South Africa, Erik Kappelman

Graduate Student Theses, Dissertations, & Professional Papers

No abstract provided.

Solidifying Segregation Or Promoting Diversity? School Closure And Rezoning In An Urban District, Thomas J. Shields

Jepson School of Leadership Studies articles, book chapters and other publications

Purpose: Layered with myriad considerations, school closure and rezoning processes in urban school systems are politically fraught with the potential for damaging consequences. This article explores the politics and impacts of a closure and rezoning process in Richmond, Virginia, through the lens of themes applicable to urban school systems and students across the nation. These include the intersection of closure and rezoning with growing White reinvestment in urban school systems, as well as the importance of focusing on diversity and equity during a time of intense pressure to close schools.

Research Methods/Approach: Drawing on the case of Richmond, Virginia, we …

Examining The Renewable Energy Consumption-Economic Growth Nexus In Sub-Saharan African Countries, Luke Neuhaus

Honors Program Theses

Given the role renewable energy is likely to play in the context of sustainable development, it is important to understand the relationship between renewable energy and economic growth. Therefore, this paper examines the relationship between renewable energy consumption and economic growth in a panel of sub-Saharan Africa countries from 1990-2011. Using a production function framework, the dependent variable is real GDP while the independent variables include renewable energy consumption, capital, and labor. The panel cointegration and Fully-Modified Ordinary Least Squares (FMOLS) results indicate the existence of a long-run and statistically significant relationship between real GDP and the independent variables. The …

Natural Disasters, Foreign Aid And Economic Development, Valeriu Tomescu

Honors Theses and Capstones

No abstract provided.

Inference In Near-Singular Regression, Peter C. B. Phillips

Research Collection School Of Economics

This paper considers stationary regression models with near-collinear regressors. Limit theory is developed for regression estimates and test statistics in cases where the signal matrix is nearly singular in finite samples and is asymptotically degenerate. Examples include models that involve evaporating trends in the regressors that arise in conditions such as growth convergence. Structural equation models are also considered and limit theory is derived for the corresponding instrumental variable (IV) estimator, Wald test statistic, and overidentification test when the regressors are endogenous. It is shown that near-singular designs of the type considered here are not completely fatal to least squares …

Hot Property In New Zealand: Empirical Evidence Of Housing Bubbles In The Metropolitan Centres, Ryan Greenaway-Mcgrevy, Peter C. B. Phillips

Research Collection School Of Economics

Using recently developed statistical methods for testing and dating exuberant behaviour in asset prices we document evidence of episodic bubbles in the New Zealand property market over the past two decades. The results show clear evidence of a broad-based New Zealand housing bubble that began in 2003 and collapsed over mid-2007 to early 2008 with the onset of the worldwide recession and the financial crisis. New methods of analysing market contagion are also developed and are used to examine spillovers from the Auckland property market to the other metropolitan centres. Evidence from the latest data reveals that the greater Auckland …

Deny, Deny, Deny, Michael Lewyn

Scholarly Works

Some commentators argue that new housing supply and less restrictive zoning will not reduce housing prices in high-cost cities. This article discusses and critiques their arguments.

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 …