Economics Commons^™

Investors' Willingness To Pay For Urban Land: The Case Of Addis Ababa City, Alebel Bayrau, Genanew Bekele

International Conference on African Development Archives

The spatial, physical and socio-economic conditions of Addis Ababa City, in general, is by far behind the requirements fundamental to sustain the livelihood of the city. In addressing the problems of the city, the suggested government intervention strategies include, among others, the relocation and resettlement of residents for efficient utilization of potential sites, and bringing balanced and coordinated investment/development in different parts of the city. These strategies, so far, seam to concentrate on the supply side and neglected the effective demand of the majority of investors. This study, therefore, aims to assess determinants of investors' willingness to pay for a …

2007 International Conference On Ethiopian Development Studies (4th Iceds) A Multidisciplinary Conference On The Challenges Of Peace And Development In Ethiopia & The Horn Of Africa, Western Michigan University

International Conference on African Development Archives

Proceedings from the 2007 International Conference on Ethiopian Development Studies (4th ICEDS) A Multidisciplinary Conference on the Challenges of Peace and Development in Ethiopia & the Horn of Africa, held in Kalamazoo, Michigan (WMU), August 2-4, 2007.

Private Transfers, Informal Loans And Risk Sharing Among Poor Urban Households, Eskander Alvi, Seife Dendir

International Conference on African Development Archives

This paper contributes to a growing literature that investigates the mechanisms of risk-sharing among poor households. There are two aspects of the paper that are particularly relevant in the context of the literature. First, it focuses on poor urban areas. The disproportionate focus in the literature on rural households has meant that we know relatively little about the risk-sharing practices of poor urban households. Given that formal insurance is largely absent even in urban areas of most developing economies, it is apparent that these households may be no less vulnerable to income risk than their rural counterparts. Furthermore, because of …

Empirical Essays On Inflation And Economic Growth, Lezheng Liu

Dissertations

This dissertation collects three empirical essays on inflation and economic growth. The first essay examines the impact of inflation uncertainty on the level of inflation. Uncertainty is measured by the conditional variance of inflation, and inflation is modeled as a GARCH-in-mean process with a two-regime Markov-switching coefficient on uncertainty. Using a Bayesian estimator with the Markov Chain Monte Carlo approach, we find that the impacts of uncertainty on inflation are statistically significant and have different signs in different regimes for the U.S. postwar data. The regime switching nature of the inflation process can explain the contradictory theoretical predictions and empirical …

The Challenge Of Community Work In A Global Economy, Howard Karger, Christian Iyiani, Pat Shannon

The Journal of Sociology & Social Welfare

This article examines how and why five major stakeholders-international financial organizations; NGOs; governmental entities; multinational corporations; and community development projects- have failed to significantly and uniformly reduce aggregate global poverty. The article uses the results of a case study of HIV/ AIDS prevention in a low-income Nigerian city to argue that effective action must involve local and global stakeholders in collaborative partnerships. It concludes by discussing the critical role of facilitators in such partnerships.

Globalization, Immigration And The Welfare State: A Cross-National Comparison, Qingwen Xu

The Journal of Sociology & Social Welfare

Over the past decades, the forces of globalization have helped created a huge wave of immigration. The relationship between globalization and immigration has been intensely examined in the last decade with a focus not only on whether and how much globalization has caused international immigration but also how to promote and sustain a just global system for the growing number of immigrants. This study selects three developed countries with different welfare state philosophies and traditions-Australia, Sweden and the United States-and compares how they cope with the growing number of immigrants and their various needs. This paper reflects thinking about states' …

Globalization And International Development: Critical Issues Of The 21st Century 2007-08, Department Of Economics

Werner Sichel Lecture Series

The 2007/2008 Werner Sichel Economic Lecture Seminar Series features six outstanding economists whose presentations will focus on the challenges and opportunities of globalization and international development. All presentations are free and open to the public. Globalization is primarily an economic phenomenon, but it has socio-cultural and political dimensions that significantly impact human welfare and development. The series' speakers will address various dimensions of globalization including poverty, foreign aid, global justice, global financial flows, and patent and knowledge spillovers to developing countries. In addition to a public lecture, each guest scholar will present an academic seminar for economics faculty and graduate …

Economic Mobility Of Single Mothers: The Role Of Assets And Human Capital Development, Min Zhan

The Journal of Sociology & Social Welfare

This study examines the economic mobility of single mothers. It highlights the relationships between single mothers' financial assets and human capital development (educational advancement, job training, and work hours) with their economic mobility. Analysis of data from the National Longitudinal Survey of Youth (NLSY79) indicates that assets may help improve upward economic mobility. Assets, however, have differential impact on single mothers with different income levels. In addition, human capital development mediates the positive link between assets and the economic mobility for mothers living between the 100% and 200% federal poverty. These results support asset building as an investment strategy to …

Essays On The Latin American Foreign Exchange Market, Isabel Ruiz

Dissertations

During the last decade, Latin American countries have moved towards becoming more open and financially integrated. At the same time, the region has appeared to adopt a "bipolar" position concerning exchange rate regimes. Most countries have moved towards more flexible exchange rates, while others have implemented hard pegs in the form of dollarization. This dissertation has two goals. First, to measure linkages and dynamics across Latin American foreign exchange markets. Second, to explore how exchange rate uncertainty impacts U.S. foreign direct investment (FDI) into Latin America.

In order to study interactions among these markets, I focus on the level of …

Determinants And Consequences Of Workers’ Remittances, Carlos Ivan Vargas-Silva

Dissertations

In this dissertation we study the determinants and consequences of workers' remittances. It is important for developing countries to have a clear understanding of the motivations that migrants have to remit money home, in order to increase remittances inflows. It is also important to understand the impact of remittances in the receiving countries in order to develop policies that can maximize the benefits of remittances, while minimizing any possible detrimental effects. In this dissertation we concentrate on the relationship between remittances and macroeconomic variables in the receiving countries. To this end we use both individual and aggregate level data.

In …

Three Essays On International Transmission And Monetary Policy In Emerging Countries, Martha Cruz Zuniga

Dissertations

This dissertation investigates two aspects of foreign shocks that affect emerging countries: U.S. monetary shocks and workers' remittances. My attention inparticular centers on the macroeconomic impact of these foreign shocks. More specifically, in the first essay (Chapter 2) I analyze the international transmission of U.S. monetary policy to emerging economies distinguishing between a direct transmission process and an augmented international transmission. In the augmented transmission mechanism, U.S. shocks may impact leading countries in different regions, and those countries' reactions then affect smaller countries. In the second essay (Chapter 3) I investigate the effects of monetary policy on stock market returns …

Searching For Social Capital In U.S. Microenterprise Development Programs, Nancy C. Jurik, Gray Cavender, Julie Cozogill

The Journal of Sociology & Social Welfare

This paper focuses on the claims and efforts of U.S. microenterprise development programs (MDPs) to build social capital among poor and low income entrepreneurs. MDPs offer business training and lending services to individuals operating very small businesses (with five or fewer employees and less than $20,000 in start-up capital). Advocates suggest that MDPs help promote economic development by building social capital defined as networks among small entrepreneurs and between entrepreneurs and their larger community. We begin our paper with a short review of the varied definitions and claims about the role of social capital in promoting civic and economic empowerment. …

Applications Of Time-Varying-Parameter Models To Economics And Finance, Peng Huang

Dissertations

This dissertation focuses on applying time-varying-parameter models to the field of financial and monetary economics. The first two essays analyze the cross-sectional returns on the U.S. stock market by emphasizing the dynamics of risk loadings. The third essay studies the impact of a tight monetary policy on weak currencies during financial crises by examining the time-varying relationship between interest rates and exchange rates.

Motivated by the pricing errors found in small size and low book-to-market ratio portfolios in the Fama-French three-factor model, the first essay proposes a time-varying four-factor model. As small size and low book-to-market ratio firms are more …

Just Around The Corner: The Paradox Of The Jobless Recovery. Stanley Aronowitz.

The Journal of Sociology & Social Welfare

Book note for Stanley Aronowitz, Just Around the Corner: The Paradox of the Jobless Recovery. Philadelphia. PA: Temple University Press, 2005. $49.50 hardcover, $16.95 papercover.

Reshaping Retirement Policies In Post-Industrial Nations: The Need For Flexibility, Angela L. Curl, M. C. "Terry" Hokenstad Jr.

The Journal of Sociology & Social Welfare

Social Security programs in post-industrial nations are facing the need for policy reforms. Fiscal shortfalls in current Social Security programs are a major driving force promoting these reforms. At the same time, changes in longevity and the nature of work and retirement also suggest the need for policy reform. This article begins with a broad overview of some of the policy innovations of the Europe Union as a whole, and then focuses more indepth on policy reforms in three countries that exemplify Esping-Andersen's (1990) typology of welfare states: Sweden, Germany, and Canada. These three countries have passed policies that promote …

The Social And Economic Impact Of Sanctions And Time Limits On Recipients Of Temporary Assistance To Needy Families, Taryn Lindhorst, Ronald J. Mancoske

The Journal of Sociology & Social Welfare

A central feature of the reforms enacted through the Personal Responsibility and Work Opportunity Reconciliation Act (welfare reform) has been the adoption of strategies to involuntarily remove Temporary Assistance to Needy Families (TANF) recipients from the welfare rolls, including increased use of sanctions and time limits on welfare receipt. Drawing on data from a three year panel study of women who had been receiving welfare in a state which adopted stringent sanctioning and time limit policies, we investigate predictors of recipients' TANF status after implementation of welfare reform, and identify differences in post-reform material resources, hardships and quality of life …

How Do We Spend Our Time? Evidence From The American Time Use Survey 2006-07, Department Of Economics

Werner Sichel Lecture Series

In 2003, the U.S. Department of Labor's Bureau of Labor Statistics initiated the new American Time Use Survey, a comprehensive national survey providing details of daily living. This annual, ongoing survey will provide information to economists, sociologists, and demographers regarding adult t ime choices. Economists use time use data to study a variety of topics. In this series, authors will present research on shift work, household production and retirement, male nonworkers, inequality, and caregiving.

Review Of Perspectives On The Economics Of Aging. David A. Wise (Ed.). Reviewed By Martin B. Tracy., Martin B. Tracy

The Journal of Sociology & Social Welfare

Book review of David A. Wise (Ed.), Perspectives on the Economics of Aging. Chicago, IL: University of Chicago Press, 2004. $90.00 hardcover.

An Evaluation Of The Renaissance Zone Programs Of Michigan, Yuanlei Zhu

Dissertations

This dissertation analyzes whether the Renaissance Zone (RZ) programs in the state of Michigan are effective in helping distressed urban areas. The unique ES202 data permits us to use both establishment level data and aggregated zip level data to examine the impact of RZ programs on the establishment number and the firms' employment, real wage, and life duration. Based upon the presumption that different firms are sensitive to the tax incentives in different ways, this study examines the impact on all firms, on new firms, dead firms, and existing firms, on manufacturing and service firms, and on large and small …

International Financial Integration, Sonila Beliu

Dissertations

During the last two decades, the degree of international financial integration (IFI) has increased substantially. This increased level of IFI has a number of benefits. First, it can lead to more efficient allocation of saving and investment across countries and, therefore, facilitate consumption smoothing. Second, it can enable domestic investors to achieve a higher level of diversification. Third, the industrial sector can benefit from having better access to the world’s capital supply and, eventually an increase in the level of IFI will have a positive impact on countries’ output growth. In all, higher levels of IFI can lead to a …

Risk Sharing And Consumption Insurance In Poor Urban Economies: Theory And Empirical Evidence From Household Data, Seife Dendir

Dissertations

Households in poor economies often strive to protect consumption from fluctuations in income through various mechanisms. Due to the absence or scarcity of formal insurance, however, they are often forced to rely on informal means to achieve this objective. This dissertation consists of three essays that analyze the nature, performance and instruments of risk sharing and consumption insurance in poor urban areas.

The first essay identifies the peculiar problems poor urban households face in their attempt to pool risk from idiosyncratic income swings, and derives unique results pertaining to the level of insurance and effort. Two specific problems are identified: …

Aid Effectiveness, Policies And Reform, Elias Kedir Shukralla

Dissertations

The effectiveness of foreign aid in developing countries is one of the most controversial topics in the development literature. In particular, issues relating to the link between aid and growth, and whether aid works better when good policies and reforms are undertaken, and how aid should be allocated have been hotly debated by economists and policy makers. As a matter of fact, developing countries continue to receive large amounts of foreign aid every year, and the controversies surrounding aid also remain strong. This dissertation reexamines the links between aid, growth, policies and economic reforms in aid recipient countries and sheds …

Democracy And Development: Lessons From Turkish Experience Applied To Ethiopia, Paul B. Henze

International Conference on African Development Archives

Ethiopia's development problems are not unique. Similar problems have been (and are being) encountered in many other countries. Turkey's successful transformation from a politically and economically backward, stagnant country into one of the most dynamic societies of our time offers an example of the kind of progress Ethiopia can hope for during the 21st century. How did Turkey transform itself in little over half a century? Turkey and Ethiopia have similarities. Both have complicated geography but lack major wealth in minerals and oil. Both have suffered strife and political turmoil. Both have unstable and aggressive neighbors. Both carry a heavy …

Are The Millennium Development Goals (Mdgs) Feasible? Can The Deadlines Be Met Particularly For Education And Gender? The Case Of Ethiopia, Meskerem Shiferaw

International Conference on African Development Archives

This paper addresses the feasibility of the MDGs in Ethiopia, in general and in particular Education and Gender issues in relation with the deadline of 2015 a target set by the UN millennium declaration. The paper will assess the possibility of achieving universal primary education by 2015 in Ethiopia, for all school age children. The role required by parents and the community, private sector and what has been so far to achieve these goals will be reviewed as a follow-up to my previous paper (educating the community, Western Michigan’s Ethiopian American Foundation International conference, 2003). Both for education and gender …

Ethnicity, Economic Conditions, And Opposition Support: Evidence From Ethiopia's 2005 Elections, Leonardo R. Arriola

International Conference on African Development Archives

Under what conditions will voters support opposition parties in the dominant party systems of sub-Saharan Africa? Scholars generally agree that most of the region’s ruling parties manage to win re-election by relying on a set of by now familiar strategies – distributing patronage, exploiting ethnic cleavages, and employing violence (van de Walle 2003; Adejumobi 2000; Diamond and Plattner 1999; Joseph 1997). While the incumbent’s deliberate manipulation of the electoral arena is well established in the Africanist literature (Takougang 2003; Makumbe 2002; Crook 1997), we still lack a clear conception of the factors which enable opposition parties to build popular support …

Land Scarcity, Tenure Change And Public Policy In The African Case Of Ethiopia: Evidence On Efficacy And Unmet Demands For Land Rights, Tesfaye Teklu

International Conference on African Development Archives

Despite the apparent abundance of land, agricultural land with a dependable growing period represents a fraction of the total land area in Ethiopia. Moreover, land degradation is extensive and severe1, particularly in the highlands above 1500 meters above sea level, which account for about 40 percent of the total land area but home for 90 percent of the total population and 70 percent of livestock. Population continues to grow rapidly in these highlands and exert pressure on diminishing supplies of agricultural land, particularly arable land for cultivation and pasture. There are signs of declining farm size and fragmentation, and excess …

Heterogeneity In Returns To Schooling: Econometric Evidence From Ethiopia, Sourafel Girma, Abbi M. Kedir

International Conference on African Development Archives

The paper investigates whether returns to schooling in Ethiopia vary across the wages distribution of individuals. To do so it adopts an instrumental variables quantile regression framework that allows for both endogeneity of schooling resulting from unmeasured ability, and possible heterogeneity in the impact of schooling. The empirical estimates indicate that education contributes more to the earnings of the individuals at a lower end of the income distribution. Under the assumption that the wage and ability distributions are related, this result is consistent with the notion that education and ability are substitutes.

The Economics Of Rotating Savings And Credit Association: Evidence From Ethiopia, Abbi M. Kedir

International Conference on African Development Archives

Using a unique individual level data on the membership of Rotating Savings and Credit Associations (ROSCAs) collected in 1994 from seven major urban centres in Ethiopia, we provide one of the few econometric tests of the economic theory of ROSCAs. In recognition of the heterogeneity of rosca types across space, we provide basic information about the characteristics of roscas in urban areas of Ethiopia. In addition, we use individual and household level data to describe the characteristics of both rosca participants and non-participants. The findings from the descriptive part of the analysis indicate that most of the rosca members are …

Concepts And Perspectives From The Economics Of Sustainable Development: Views Of Economists And Their Policy Implications For Ethiopia And The Rest Africa, Sisay Asefa

International Conference on African Development Archives

Sustainable development is a concept about the relationship between economic growth and the environment. The term was first used in 1987 by the World Commission on Environment and Development (also known as the Brundtland Commission for its Chair, Gro Harlem Brundtland). In the Commssion’s report, “our common Future”, it defined sustainable development as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs” (World Commission on Environment and Development 1987. The aim of this paper is to explore the various dimensions of sustainability from an economic perspective by focusing …

Fiscal Federalism And Its Discontents: Theory And Policy, Abu Girma Moges

International Conference on African Development Archives

A number of countries have pursued fiscal decentralization within a broad context of political and economic reforms to improve the performance of their public sector. Fiscal decentralization can potentially improve the allocation efficiency of the public sector and increase the capacity of a nation to address its pressing economic, social and political problems. The sustainability of such an approach is conditioned by the existence of effective democratic institutions and implementation capabilities. When political imperatives dictate the adoption of fiscal decentralization, however, the process would confront problems of the commons, capacity constraints and externalities that would limit the potential efficiency gains …