Economics Commons^™

Complex Economic Systems: Using Collective Intentionality Analysis To Explain Individual Ldentity In Networks, John B. Davis

Economics Faculty Research and Publications

Une approche particulière de l'analyse de économies vues comme des systèmes complexes étudie l'interaction entre les individus dans des réseaus locaux ou de voisinage qui sont un sous-ensemble des économies plus larges. En rejetant la vision traditionnelle des fondations microéconomiques de la relation entre le comportement économique individuel et agrégé comme s'influençant réciproquement. Ce papier étudie la conception des réseaux de l'individu interactif utilisée dans l'analyse d'Alan Kirman (2001) dans le cadre de relations de loyauté entre les acheteurs et les vendeurs sur le marché aux poissons de Marseille, en utilisant le cadre du test d'identité que j'ai appliqué précédemment …

Identity And Commitment: Sen's Conception Of The Individual, John B. Davis

Economics Faculty Research and Publications

This paper develops a conception of personal identity for Amartya Sen’s capability framework that emphasizes his self-scrutinizing aspect of the self and related concept of commitment, and compares this conception to the collective intentionality-based one advanced in Davis (2003c). The paper also distinguishes personal identity and social identity, and contrasts Sen’s framework with recent standard economics’ explanation of social identity in terms of conformity. Sen’s concept of commitment is examined in two formulations, and the later version is related to Bernard Williams’ thinking about identity-conferring commitments. The paper’s concludes by arguing that explaining personal identity as a special capability and …

The Fiscal Dimensions Of Conflict And Reconstruction, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.

(Wp 2004-01) Inappropriate Pooling Of Wealthy And Poor Countries In Empirical Fdi Studies, Bruce A. Blonigen, Miao Grace Wang

Economics Working Papers

This paper examines the question of whether less-developed countries' (LDCs') experiences with foreign direct investment (FDI) systematically different from those of developed countries (DCs).

We do this by examining three types of empirical FDI studies that typically do not distinguish between LDCs and DCs in their analysis. First, we find that the underlying factors that determine the location of FDI activity across countries vary systematically across LDCs and DCs in a way that is not captured by current empirical models of FDI. Second, the effect of FDI on economic growth is one that is only supported for LDCs in the …

An Empirical Study Of The Dynamics Of International Stock Markets Interdependence, Michael Hutchinson, Farrokh Nourzad

Economics Faculty Research and Publications

This paper examines the interaction between international national stock markets using daily data and a VAR model. The results indicate that the speed of adjustment to equilibrium after a shock is about two days, indicating that markets are highly efficient at processing international information. Moreover, the US market appears to be the most important in the system, while Japan is very independent and does not have much effect on the other markets in the sample. Finally, the recent Asian financial crisis appears to have amplified the importance of the Asian markets to the rest of the global exchanges.

External Debt, Growth And The Hipc Initiative: Is The Country Choice Too Narrow?, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.

Assessing Alternative Methods Of Estimating The Present Value Of Future Earnings: A Fifteen-Year Update, Brian Brush

Economics Faculty Research and Publications

No abstract provided.

Review Of Reconstructing Economic Theory: The Problem Of Human Agency By Allen Oakley, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

The Agency-Structure Model And The Embedded Individual In Heterodox Economics, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

Economics As A Colonial Discourse Of Modernity, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

Introduction To The Elgar Companion To Economics And Philosophy, John B. Davis, Alain Marciano, Jochen Runde

Economics Faculty Research and Publications

No abstract provided.

Money Demand Stability Under Currency Substitution: Some Recent Evidence, Santi Chaisrisawatsuk, Subhash C. Sharma, Abdur Chowdhury

Economics Faculty Research and Publications

This study deals with the issue of independent monetary policy and the stability of the domestic money demand function in the presence of currency substitution and capital mobility in five Asian economies. It is argued that money demand will be less stable and more difficult to control in the presence of international variables. The money demand function is derived using the portfolio balance approach. The results from the cointegration analysis reveal that capital mobility and currency substitution are significant factors in the domestic money demand equations for Indonesia, Korea, Malaysia, Singapore, and Thailand. The results also show that the US …

Gasoline Prices, State Gasoline Excise Taxes, And The Size Of Urban Areas, James Mcgibany

Economics Faculty Research and Publications

A monocentric model of land use that assumes urban spatial size is determined by a set of exogenous variables is employed to test the hypothesis that urban land size is negatively related to gasoline prices. Using a model from Brueckner and Fansler (1983), the amount of urbanized land area is shown to be a function of population, income, agricultural land prices and commuting costs. The latter is measured as the price of gasoline, broken into two components; the amount of any state gasoline excise tax imposed plus the total price paid by consumers minus such a tax. Using 1990 data, …

A Global Lottery And A Global Premium Bond, Tony Addison, Abdur Chowdhury

Economics Faculty Research and Publications

Proposals are evaluated, from both an economic and an ethical viewpoint, for development funding through a global lottery, along with a complement to this: a global premium bond (a loan instrument in which the interest takes the form of a lottery prize, the capital being repayable on request, so that it has the characteristics of a savings product, which makes it potentially attractive to ethical investors). The chapter starts by looking at how a global lottery might work, evaluating the issue by discussing lottery operators and their regulation, the market for lotteries, competition between the global lottery and national lotteries, …

Collective Intentionality, Complex Economic Behavior, And Valuation (Book Chapter), John B. Davis

Economics Faculty Research and Publications

No abstract provided.

Wto Accession: What's In It For Russia?, Abdur Chowdhury

Economics Faculty Research and Publications

Prospects for Russia’s membership in the WTO now look better than any point since accession negotiations began almost a decade ago. Good progress with economic and legal reforms within Russia has left the country’s economy better prepared for membership. Nevertheless, the economy still suffers from various weaknesses including, but not limited to, pervasive subsidies for different sectors, lack of liberalization and foreign participation especially in the service sector, inefficiency in custom administration, lack of enforcement of intellectual property rights, etc. For all their sensitivity, the negotiations on the import tariff levels and access to the service sectors are the least …

The Relationship Between Religious Affiliation, Region, Race, And Attitudes Toward Globalization, Marc Von Der Ruhr, Joseph P. Daniels

Economics Faculty Research and Publications

No abstract provided.

Risk, Discounting, And The Present Value Of Future Earnings, Brian Brush

Economics Faculty Research and Publications

No abstract provided.

Openness, Growth, And Development: Evidence From A Panel Of Developing Countries, Farrokh Nourzad, Jennifer J. Powell

Economics Faculty Research and Publications

This paper examines the interaction between openness, growth, and development using a panel of forty-seven developing countries and five-year averages for the period, 1965-1990. Its primary objective is to determine whether there is a direct link between the level of development and openness, while controlling for the indirect effect of openness through its impact on economic growth. Using a two-equation simultaneous-equations model of development and growth and three alternative measures of openness, our findings suggest that openness has a positive influence on both economic growth and human development. We also find that while economic growth makes a positive contribution to …

The Determinants Of Immigration-Policy Preferences In Advanced Economies: A Cross-Country Study, Joseph P. Daniels, Marc Von Der Ruhr

Economics Faculty Research and Publications

This paper employs survey data to examine the determinants of immigration-policy preferences among ten advanced economies. Ordered probit specifications suggest that skill level is a robust determinant of immigration-policy preferences and that less-skilled workers are more likely to express a preference for policies that restrict immigration. The results also suggest that older individuals, members of trade unions, and those who classify their political ideology as conservative are more likely to favor limiting immigration while non-citizens are less likely to favor such policies. Individual country-level regression results vary, in particular with regard to the influence of trade union member- ship, which …

Currency Substitution, Seigniorage, And Currency Crises In Interdependent Economies, Joseph P. Daniels, David D. Vanhoose

Economics Faculty Research and Publications

This paper applies a two-country framework that allows for currency substitution in an environment in which policymakers optimally vary interest rates in light of utility-based objectives, one country pegs the value of its currency to the other nation’s currency, and government revenue is generated via explicit taxes and seigniorage. The analysis illustrates the roles that currency substitution, currency preferences, and efficiency of tax systems play in contributing to the likelihood of a “run” on one nation’s currency. We explore how these factors interact to influence the probability of a currency crisis in the country that fixes its exchange rate.

The Long-Run Behavior And Short-Run Dynamics Of Private Savings In Morocco, Mina Baliamoune-Lutz, Abdur Chowdhury

Economics Faculty Research and Publications

The paper examines the trend in private savings in Morocco in the presence of financial sector development by utilizing a cointegration and error-correction modeling framework. Specifically, the hypothesis that there is stable relationship between the level of private savings and its determinants including a measure of financial reform is investigated. The statistical results provide evidence in favor of a long-run relationship between private savings and most of its determinants. More importantly, the financial reform index, as measured by financial depth, is found to have a positive impact on the level of private savings. This indicates that the financial reform program …

Reforming Russia's Educational System, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.

Transnational Corporations: Dynamic Structures, Strategies, And Processes, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

Do Asymmetric Terms Of Trade Shocks Affect Private Savings In A Transition Economy?, Abdur Chowdhury

Economics Faculty Research and Publications

This paper examines whether terms of trade shocks have an asymmetric effect on private savings in transition economies. A simple three-period framework is developed to show that, in the presence of binding credit constraints in bad states of nature, savings rates can be sensitive to favorable movements in the permanent component of the terms of trade. This result contrasts with the prediction of the conventional consumption-smoothing model. Empirical analysis with a dynamic panel model further confirms that while favorable movements in the permanent component of the terms of trade have an asymmetric effect on private savings, the magnitude of the …

Will Social Values Influence The Development Of Hmos?, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

The Emperor's Clothes, John B. Davis

Economics Faculty Research and Publications

Argues that neoclassical economics is primarily a theory of the human individual in economic life but contemporary mainstream economics does not posses a theory of the human individual. Definition of mainstream economics; Origin of the Enlightenment theory of the individual that came to underlie neoclassical economics at the end of the nineteenth century; Problems in neoclassical economics' treatment of individuals.

Student Attitudes Towards The Market System: An Inquiry And Analysis, Charles Breeden, Noreen Lephardt

Economics Faculty Research and Publications

No abstract provided.

Real Money Balances And Production Efficiency: A Panel-Data Stochastic Production Frontier Study, Farrokh Nourzad

Economics Faculty Research and Publications

This paper examines the effect of four alternative measures of real money balances on production efficiency using annual panels of 10 developed and 10 developing countries. Using maximum likelihood, separate stochastic production frontiers are estimated, along with the parameters of an equation relating technical inefficiency to real money balances. The results for the sample of developed economies indicate that increases in real simple-sum M1, simple-sum M2, Divisia M1, and Divisia M2 enhance efficiency in the production sector. On the other hand, in the sample of developing nations, there is no evidence that real money balances reduce technical inefficiency.

Corporations And Structural Linkages In World Commerce, Joseph P. Daniels, John B. Davis

Economics Faculty Research and Publications

No abstract provided.