Economics Commons^™

Oil And Gas Management In Nigeria: Lessons For Ghana, Omolara O. Akanji Mrs.

Bullion

This paper is to discuss the oil and gas management in Nigeria: Lessons for Ghana. The paper is structured into five parts with part 1 being the introduction while part 2 scoops the literature on the economics of natural resources and its management globally. Part 3 will situate the Nigeria's multifaceted crisis of oil and gas governance and all related issues. Part 4 will sieve out the lessons for Ghana while part 5 summarizes and concludes the paper.

Relationship Between Inflation And Stock Market Returns: Evidence From Nigeria, Omotor G. Douglason

CBN Journal of Applied Statistics (JAS)

The linkage between stock prices and inflation has been subjected to extensive research in the past decades and has arouse the interests of academics, researchers, practitioners and policy makers globally, particularly since the 1990s. The issue has been the apparent anomaly of the negative relationship between inflation and stock market returns as most studies in the industrialized economies have shown. This paper investigates this relationship using monthly and quarterly data of Nigeria for the period 1985 to 2008. The findings of this paper seem to suggest that stock market returns may provide an effective hedge against inflation in Nigeria.

Is The Stock Market A Leading Indicator Of Economic Activity In Nigeria?, Alvan E. Ikoku

CBN Journal of Applied Statistics (JAS)

In an effort to address the lacuna in leading indicator studies of African economies and Nigeria in particular, this paper examines the causal relationships among stock market prices, real GDP and the index of industrial production in Nigeria, using quarterly data from 1984Q1 to 2008Q4. Granger causality tests indicate bidirectional causality between stock prices and GDP but no causality between stock prices and industrial production or between GDP and industrial production. Stock prices and GDP are found to be cointegrated, leading to the estimation of vector error correction models. Out-of-sample forecasts constructed with AR(1), ARIMA, structural ARIMA, and VEC models …

Monetary And Fiscal Policy Interactions In Nigeria: An Application Of A State-Space Model With Markov-Switching, Chuku V. Chuku

CBN Journal of Applied Statistics (JAS)

This paper uses quarterly data to explore the monetary and fiscal policy interactions in Nigeria between 1970 and 2008. As a preliminary exercise, the paper examines the nature of fiscal policies in Nigeria using a vector autoregression (VAR) model. The simulated generalized impulse response graphs generated from the VAR estimation provides evidence of a non-Ricardian fiscal policy in Nigeria. Further, the paper analyzes the interactions between monetary and fiscal policies by applying a State-space model with Markov-switching to estimate the time-varying parameters of the relationship. The evidence indicates that monetary and fiscal policies in Nigeria have interacted in a counteractive …

Optimal Designs Approach To Portfolio Selection, Etukudo A. I.

CBN Journal of Applied Statistics (JAS)

In order to obtain the best tradeoff between risk and return, optimization algorithms are particularly useful in asset allocation in a portfolio mix. Such algorithms and proper solution techniques are very essential to investors in order to circumvent distress in business outfits. In this paper, we show that by minimizing the total variance of the portfolio involving stocks in two Nigerian banks which is a measure of risk, optimal allocation of investible funds to the portfolio mix is obtained. A completely new solution technique – modified super convergent line series algorithm which makes use of the principles of optimal designs …

Factors, Preventions And Correction Methods For Non-Response In Sample Surveys, Godwin Nwanzu Amahi

CBN Journal of Applied Statistics (JAS)

Missing survey data occur because of unit and item non-response. This is practically independent of the method of data collection. As a result of the bias that non-response sometimes introduces in survey estimates, identifying factors that promote it, and taking measures of prevention and correction methods are clearly necessary. The standard method to compensate for unit non-response is by weighting adjustment, while item non-responses are handled by some form of imputation. This paper reviews factors that give rise to nonresponse and the corresponding methods used for its prevention and control. It also discusses their properties.

Addressing The Problem Of Non-Response And Response Bias, Fabian C. Okafor

CBN Journal of Applied Statistics (JAS)

Survey planners and analysts in Nigeria have devoted much more attention to sampling errors at the expense of nonsampling errors (non-response and response errors). Sampling error is the degree to which the sample estimate differs from the average value of the characteristic due to chance. The present discussion will be centered on non-sampling error, which may present serious deficiencies in the statistics and render the survey useless. According to Platek and Gray (1986), “Non-response has been generally recognized as important measure of the quality of data since it affects the estimates by introducing a possible bias in the estimates and …

Statistics For National Development, Sani I. Doguwa

CBN Journal of Applied Statistics (JAS)

Good statistics that has been collected according to agreed good practices are crucial as a tool for development. Gross domestic product (GDP) and other measures of economic activity such as Gross National Income (GNI) together with their individual components, show how the economy is responding to government policy and other influences. The balance of payments can demonstrate the requirement for policy adjustments and is also one of the indicators scrutinised by potential foreign investors in the country. Agricultural statistics clearly have implications for longer-term planning, particularly if they show a move away from the land into urban areas or a …

Regression Approach To Adjust Wia Performance Standards, Timothy J. Bartik, Randall W. Eberts, Kenneth J. Kline

Presentations

No abstract provided.

Culvert Material Cost Comparison, New England Environmental Finance Center

Water

The following tables provide a detailed look at the role that culvert material and culvert diameter play in the overall cost of a culvert replacement project.

Renewable Energy In Rural Amazônia: A Case Study Of Its Advantages And Limitations In Santo Antônio, Amy Plovnick

Independent Study Project (ISP) Collection

Isolated renewable energy projects are a promising alternative to diesel power for providing electricity in rural communities not connected to the conventional electricity transmission grid. However, there have been a limited number of such projects in rural Amazônia, and they often face obstacles that limit their sustainability. The objective of this study is to evaluate the environmental, social and economic impact of isolated renewable energy projects through a case study of a small-scale biomass and solar energy electrification project in the community of Santo Antônio, Pará. It will also evaluate the limitations to implementing and sustaining isolated renewable energy projects …

Missing Pieces: A New Report To Congress Details Biases And Gaps In Economic Statistics Resulting From Globalization, Susan N. Houseman

Employment Research Newsletter

No abstract provided.

Net Impact Evaluation Of Moving Men And Women To Economic Independence In Michigan, Within Reach Program: Year 1 And Year 2 Cohorts, Randall W. Eberts, Jason M. Preuss

Presentations

The authors completed a net impact evaluation of the “Within Reach” component of the Goodwill Industries of Greater Detroit program (Moving Men and Women to Economic Independence). This program provided employment-related support services to disadvantaged adults as coordinated by WorkFirst. The net impact evaluation estimated the contribution of the program to the employment outcomes of the participants. It constructed comparison groups of individuals who were similar to the program participants, but who did not participate in the program. The net impact analysis focused on three employment-related outcomes: finding a job, retaining a job (workforce attachment), and earnings.

The Impacts Of Wind Power Development In Maine 2003-2010, Charles Colgan

Economic Impact Analysis

The development of wind power in Maine has emerged as a significant economic opportunity in the past several years, providing one of the few growing sectors in the latter half of the last decade. The impact of this development has been estimated in regulatory filings before, but has not been examined in detail using data on actual expenditures for wind power development. This report examines the economic impacts of three major wind power projects: Mars Hill in Aroostook County, Stetson Mountain in Washington County, and Kibby Mountain in Franklin County. (Stetson and Kibby were undertaken in two phases) These projects …

Green Power Marketing In The United States: A Status Report (2009 Data), Lori Bird, Jenny Sumner

Publications (E)

This report documents green power marketing activities and trends in the United States. Aggregate green power sales data for all voluntary purchase markets across the United States are presented for 2009. The data presented in this report are based primarily on figures provided to NREL by utilities and independent renewable energy marketers. Because data cannot be obtained from all market participants, the estimates presented here likely represent an underestimate of the market size. Key trends identified in this year’s report include:
• In 2009, total retail sales of renewable energy in voluntary markets exceeded 30 million MWh, an increase of …

The Role Of Rater Motivation In Personnel Selection Validation Studies, Dan Ispas

USF Tampa Graduate Theses and Dissertations

Personnel selection validation studies are routinely conducted in contemporary organizations for selecting and placing employees. Although numerous studies have been conducted with the goal of identifying new predictors, less research was focused on the criterion side. In the current paper, across three studies and five samples, I examined the role played by rater motivation in validation studies. I proposed that rater motivation would impact criterion-related validity of various predictors, the reliability, and the variance of performance ratings. In Study 1, these hypotheses were tested in two samples with varied operationalizations of predictors and of rater motivation. In Study 2, I …

Nonparametric Testing For Asymmetric Information, Liangjun Su, Martin Spindler

Research Collection School Of Economics

Asymmetric information is an important phenomenon in many markets and in particular in insurance markets. Testing for asymmetric information has become a very important issue in the literature in the last two decades. Almost all testing procedures that are used in empirical studies are parametric, which may yield misleading conclusions in the case of misspecification of either functional or distributional relationships among the variables of interest. Motivated by the literature on testing conditional independence, we propose a new nonparametric test for asymmetric information which is applicable in a variety of situations. We demonstrate the test works reasonably well through Monte …

Monetary Policy Essay, Dan Brocklehurst

Academic Symposium of Undergraduate Scholarship

No abstract provided.

Improving The Teaching Of Econometrics At Pace University Using Stata, Gregory Colman

Cornerstone 3 Reports : Interdisciplinary Informatics

The goal of this grant was to improve the teaching of econometrics at Pace using the computer program, Stata, the most widely-used econometrics software among applied economists.

Examination Of The Regional Supply And Demand Balance For Renewable Electricity In The United States Through 2015: Projecting From 2009 Through 2015 (Revised), Lori Bird, David Hurlbut, Pearl Donohoo, Karlynn Cory, Claire Kreycik

Publications (E)

This report examines the balance between the demand and supply of new renewable electricity in the United States on a regional basis through 2015. It expands on a 2007 NREL study (Swezey et al. 2007) that assessed the supply and demand balance on a national basis. As with the earlier study, this analysis relies on estimates of renewable energy supplies compared to demand for renewable energy generation needed to meet existing state renewable portfolio standard (RPS) policies in 28 states, as well as demand by consumers who voluntarily purchase renewable energy. However, it does not address demand by utilities that …

Policy Suggestions For Emissions Trading In The U.S.A., Nathaniel Wallshein

Honors Scholar Theses

This honors thesis will examine current and theoretical "cap and trade" emissions trading schemes in an attempt to make recommendations on how to improve this regulated commodity market. The various control mechanisms available to regulators will be discussed: including allocation methodology, benchmarking, banking, variation in design frameworks, etc. To aid and support the proposed policy recommendations, this paper will investigate the design framework of the SOx emission trading scheme in the US, the Kyoto Protocol, and the European Union Emissions Trading Scheme (ETS). The political, social, and economic context of these schemes will be taken into account when considering the …

Voluntary Green Power Market Forecast Through 2015, Lori Bird, Ed Holt, Jenny Sumner, Claire Kreycik

Publications (E)

Voluntary markets for renewable energy in which consumers purchase renewable energy from their electricity providers or from renewable energy certificate (REC) marketers have existed for more than a decade. Going forward, various factors will influence the development of these markets, including potential climate policies, state and federal renewable portfolio standards (RPS), renewable energy prices, the level of consumer interest in purchasing green power, and the interest on the part of utilities in offering new green options and in continuing to promote existing programs.

This report presents estimates of voluntary market demand for renewable energy or green power through 2015. The …

Three Essays On Environmental- And Spatial-Based Valuation Of Urban Land And Housing, Lu Liu

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This dissertation attempts to provide a comprehensive examination on the non-market valuation of the effect of open space amenities and local public infrastructure on the value of urban land and housing with both spatial heterogeneity and project heterogeneity. The demand for raw land is a derived demand for housing built on it. Therefore, we need to examine the land market and the housing market together. On the one hand, we estimate the value of urban land in a market that does not satisfy the usual assumptions of a competitive market structure as well as incentive incompatibility issues for transaction participants, …

The Green Revolution Of The 1960'S And Its Impact On Small Farmers In India, Kathryn Sebby

Department of Environmental Studies: Undergraduate Student Theses

The Green Revolution was initiated in the 1960’s to address the issue of malnutrition in the developing world. The technology of the Green Revolution involved bio-engineered seeds that worked in conjunction with chemical fertilizers and heavy irrigation to increase crop yields. The technology was readily adopted in many stated in India and for some was a great success. However, there were many farmers who could not afford the inputs necessary to participate in the Green Revolution and gaps between social classes widened as wealthy farmers got wealthier and poor farmers lagged behind. This paper discusses how small farmers were affected …

Monopoly, Regulation, And Innovation, Matt Bogard

Economics Faculty Publications

Recently the Justice department has started investigations into alleged anti-trust violations by Monsanto. This has helped fuel a lot of already hyped discontent with one of the world’s leaders in innovative solutions for sustainable agriculture. This article discusses how the regulatory environment could possibly have contributed to more concentration and power in the biotech industry. Increasing regulation would likely have the opposite effect of creating a level playing field in the agriculture industry. From AgWeb, March 27,2010 http://www.agweb.com/blog/Economic_Sense_190/Monopoly_Regulation__and_Innovation_10771/

Las Vegas Metropolitan Area Social Survey 2010 Highlights, Robert Futrell, Christie D. Batson, Barbara G. Brents, Andrea Dassopoulos, Chrissy Nicholas, Mark J. Salvaggio, Candace Griffith

Reports (USI)

UNLV sociologists conducted the Las Vegas Metropolitan Area Social Survey (LVMASS) to identify the socio-spatial distribution of attitudes and attributes relevant to urban sustainability in the Las Vegas Valley. The project goal is to understand how Las Vegas residents think about urban sustainability issues across three dimensions: 1) natural environment; 2) community and quality of life; 3) economy.

Research Poster: Vulnerability To Climate Change And Policy Support In Rural Nevada, Ahmad Safi

2010 Annual Nevada NSF EPSCoR Climate Change Conference

Supervisor: Dr. William James Smith, Jr. Research poster

Climate Change Response Strategy, Anne Bennett

Bulletins 4000 -

Climate change and policies introduced to reduce emissions will affect the agricultural sector and will lead to social and economic outcomes.

In addressing the Western Australian Government's priority plan for the agriculture and food sector, the Department of Agriculture and Food, Western Australia has a number of roles it can play to assist industry to adapt and respond to climate change.

This document provides a balanced and coordinated strategic direction for climate change activities by identifying and prioritising key actions to be achieved over the next five years. The strategy is split into four chapters: emissions abatement, carbon sinks, adapting …

The Location Decisions Of Foreign Investors In China: Untangling The Effect Of Wages Using A Control Function Approach, Xuepeng Liu, Mary E. Lovely, Jan Ondrich

Faculty Articles

There is almost no support for the proposition that capital is attracted to low wages from firm-level studies. We examine the location choices of 2,884 firms investing in China between 1993 and 1996 to offer two main contributions. First, we find that the location of labor-intensive activities is highly elastic to provincial wage differences. Generally, investors' wage sensitivity declines as the skill intensity of the industry increases. Second, we find that unobserved location-specific attributes exert a downward bias on estimated wage sensitivity. Using a control function approach, we estimate a downward bias of 50% to 90% in wage coefficients estimated …

Sustainability Initiatives In East Bayside Neighborhood Portland, Maine, Garvan Donegan, Henry Heyburn, Caitlyn Horose, Matt Klebes, Jennifer Riley, Damon Yakovleff, New England Environmental Finance Center

Planning

This is a bundle containing research on sustainability initiatives that could be implemented in the East Bayside neighborhood of Portland, ME. These six essays were prepared by the Spring, 2010 Sustainable Communities Class known as CPD 602 at the University of Southern Maine. The class is part of the core curriculum of the Community Planning and Development program of the Muskie School of Public Service at the university. The instructor for the class was Samuel Merrill, Ph. D. who is also director of the New England Environmental Finance Center at the University. These papers were prepared in conjunction with Alan …