Economics Commons^™

Sme Financing: Issues And Strategies, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

It is an honour for me to welcome you all and particularly Mr. President to this Conference on SME Financing: Issues and Strategies. I wish to thank you Mr. President, Sir, for your continued support in our efforts to develop a vibrant SME sector as an integral part of the poverty reduction strategy. You have spelled out this strategy on several occasions very clearly and I would like to dwell upon it this morning. But I would like to assure you that this conference is a modest contribution towards the fulfillment of that strategy. I would also like to welcome …

Globalization, Regional Integration, And National Development, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would, at the outset, like to welcome the foreign delegates and particularly those from the countries in the South Asia Region. I am extremely happy to join you on this occasion and thank you for inviting me, once again, to this important event. The views that I would like to share with you this evening will focus on the economic situation globally, regionally within Asia and South Asia and nationally within the South Asian Countries. I will then briefly examine the prospects and challenges that face our region in moving forward in this age of globalization and integration to …

A Model For Emergency Service Of Voip Through Certification And Labeling, Patrick S. Ryan, Tom Lookabaugh, Douglas Sicker

ExpressO

Voice over Internet Protocol (VoIP) will transform many aspects of traditional telephony service, including the technology, the business models, and the regulatory constructs that govern such service. Perhaps not unexpectedly, this transformation is generating a host of technical, business, social, and policy problems. In attempting to respond to these problems, the Federal Communications Commission (FCC) could mandate obligations or specific solutions to VoIP policy issues; however, it is instead looking first to industry initiatives focused on the key functionality that users have come to expect of telecommunications services. High among this list of desired functionality is user access to emergency …

What Makes Asset Securitization "Inefficient"?, Kenji Yamazaki

ExpressO

Despite the damage caused by the recent Enron scandal , the asset securitization market has been vibrant and has become a popular financing alternative . A number of academics emphasize its merits and suggest that it is a more favorable way of financing, and Congress’s proposal to make sales of asset in securitization immune from characterization as secured transactions under the Bankruptcy Reform Act of 2001 (the “Reform Act”) almost materialized when the Enron scandal hit the scene. Conversely, there have been accusations that securitization is not a legitimate way of financing because, for example, it fosters fraudulent transactions.

Why …

Stormwater Utility Fees: Considerations & Options For Interlocal Stormwater Working Group (Iswg), New England Environmental Finance Center

Water

Stormwater utilities are a concept whose time seems to have arrived. Established by relatively few communities in the 1970s as a method of funding flood control measures, stormwater utilities now exist in over 400 municipalities and counties throughout the United States. During the next 10 years, their numbers are expected to swell dramatically – by one estimate to over 2,000 by the year 2014.

The reasons for this growth are multifold. Federal stormwater regulations passed in the 1980s (Phase I of the National Pollutant Discharge Elimination System Program, or NPDES), motivated many larger communities to seek alternative funding sources and …

Institutions And Inclusion In Saving Policy, Michael S. Barr, Michael Sherraden

Law & Economics Working Papers Archive: 2003-2009

No abstract provided.

Credit Where It Counts: Maintaining A Strong Community Reinvestment Act, Michael S. Barr

Law & Economics Working Papers Archive: 2003-2009

The Community Reinvestment Act (CRA) has helped to revitalize low- and moderate-income communities and provided expanded opportunities for low- and moderate-income households. Recent regulatory steps aimed at alleviating burdens on banks and thrifts are unwarranted, and may diminish small business lending as well as community development investments and services. This policy brief explains the rationale for CRA, demonstrates its effectiveness, and argues that the recent regulatory proposals should be withdrawn or significantly modified.

Modes Of Credit Market Regulation, Michael S. Barr

Law & Economics Working Papers Archive: 2003-2009

No abstract provided.

Some Results On The Multivariate Truncated Normal Distribution, William C. Horrace

Economics - All Scholarship

This note formalizes some analytical results on the n-dimensional multivariate truncated normal distribution where truncation is one-sided and at an arbitrary point. Results on linear transformations, marginal and conditional distributions, and independence are provided. Also, results on log-concavity, A-unimodality and the MTP_2 property are derived.

Rhode Island Current Conditions Index -- May 2005, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

The Impact Of S&P Depository Receipts On The S&P Cash And Futures Market, Andrew J. Economopoulos

Business and Economics Faculty Publications

The introduction of the S&P Depository Receipt (SPDR) in 1993 was a financial innovation that produced several ripple effects in the financial markets. Not only did it allow the small investor to purchase a piece of the S&P 500 Cash Index, it would allow the large investor to utilize the security for arbitrage opportunities with the S&P 500 futures. A theoretical model of arbitrage opportunities utilizing SPDR is developed. The theoretical model provides two outcomes. First, the adoption of the SPDR as an arbitrage tool depends on transaction and liquidity costs and second, the innovation could potentially reduce the traditional …

Analysis Of Economic Models Through Calculus Of Variations, Raman Arora

Masters Theses & Specialist Projects

This thesis is a combination of two science fields: Mathematics and Economics. Mathematics is often used to formulate a clear and concise solution to economic problems. In my observation calculus of variation has often been used in various macroeconomic problems. This mathematical method deals with maximizing or minimizing of various objective functions given a set of constraints. This topic brings out one of the best ways to show the relationship between mathematics and economics. My thesis consists of three parts: The first chapter contains a review of the calculus of variations. Basic definitions and important conditions have been stated. The …

Globalization, Urban Competitiveness, And Human Capital: Davidson County, Tennessee's Place In The Equation, James Russ

Masters Theses & Specialist Projects

Profound changes in the structure of the global economy since the end of World War II have drastically affected the way governments, businesses, and individuals interact with one another. The development of regional trading alliances (European Union, NAFTA, APEC), the end of the Cold War, and the rapid development of information technologies have contributed to new global economic theories that are being adopted by places large and small. Simply put, economic paradigms have changed. Local concerns have become more prevalent in the public debate over economic, political, and societal changes as a whole. The goal of my research is to …

Movement Of Economics Professors Among Top Research Universities In The Us, Benjamin E. Resnick

Renée Crown University Honors Thesis Projects - All

Abstract not Included

Us Current Account Imbalance, Milena Gueorguieva

Honors Capstones

No abstract provided.

Industry-Based Competitive Strategies For Ohio: Managing Three Portfolios, Edward W. Hill, Larry C. Ledebur, Matthew Sattler, Jacob Duritsky

All Maxine Goodman Levin School of Urban Affairs Publications

Deloitte Consulting, LLP, Cleveland State University, OSA Strategy. Political and business leaders have recognized a need to chart a new economic course for Ohio’s future. This study represents a step toward determining effective uses for limited development dollars in the state and filling in Ohio’s economic development strategy. This statewide industry study has been designed to provide economic development officials with insight, analysis, and strategic tools to help businesses compete more efficiently in an increasingly global marketplace.

Overcoming Participation Constraints, Hanming Fang, Peter Norman

Cowles Foundation Discussion Papers

In incomplete information environments with transferable utility, efficient outcomes are generally implementable unless interim or ex post participation constraints are imposed on the problem. In this paper we show that linking a sufficiently large number of independent but possibly unrelated social decisions, a slightly perturbed Groves mechanism can implement an efficient outcome with probability arbitrarily close to one, while respecting all participation, incentive and balanced budget constraints.

Overcoming Participation Constraints, Hanming Fang, Peter Norman

Cowles Foundation Discussion Papers

This paper shows that linking a sufficiently large number of independent but unrelated social decisions can achieve approximate efficiency. We provide regularity conditions under which a Groves mechanism amended with a veto game implements an efficient outcome with probability arbitrarily close to one, and satisfies interim participation, incentive and resource constraints.

Intergenerational Justice And Sustainability Under The Leximin Ethic, John E. Roemer

Cowles Foundation Discussion Papers

We model an intergenerational society, with a representative agent at each date, who must deplete a renewable resource, from which he derives utility, to produce consumption goods. We adopt the intergenerational lexicographic minimum as the social welfare function. Initially, technological progress is assumed to exist exogenously. We study the technological requirements for the leximin solution to support non-decreasing welfare over time, and a non-decreasing level of the natural resource. Three utility functions are studied. With a CES utility function, possessing less substitutability than the Cobb-Douglas, the leximin solution involves increasing utilities over time and an increasing size of the natural …

"Offshore” Or “Shorn Off”: The Oecd’S Harmful Tax Competition Initiative And Development In Small Island Economies, Richard Woodward

Books/Book Chapters

The difficulties of developing and executing a sustainable development program in Small Island Economies (SIEs) are well documented. Comparatively small domestic markets, remote export markets, a dearth of natural and human resources, susceptibility to environmental change and natural disasters, plus limitations on the state’s capacity to govern economic activity have narrowed the range of feasible development strategies resulting in a reliance on sectors vulnerable to the vicissitudes of the global economy.

The Failure Of Vertical Mergers, Frederick M. Schwarz

Renée Crown University Honors Thesis Projects - All

Creating successful vertical mergers is a challenge for organizations across Corporate America. This honors thesis contains a study of five of those vertical mergers. To complete this study, five mini cases were created that outlined those deals. In addition, statistical analysis of the post merger abnormal returns was completed for each of these deals. Abnormal returns are calculated as the difference between the returns occurring in the post-merger period and the normal returns, i.e., the returns that would have been expected if the merger had not taken place.

This thesis targets the mergers of Viacom Corporation and CBS, Merck Corporation …

The College Football Gambling Market An Empirical Approach, Brian Mcneil

Renée Crown University Honors Thesis Projects - All

This study tests the efficiency of the college football gambling market and whether the market allows for profitable wagering. Operating upon the theoretical framework that, at any given time, prices fully reflect all information available in a particular market, I test for the existence of residual information that is not currently incorporated into the market, thus rendering it inefficient. This project expands upon several previous studies performed on sports betting – most notably that of Zuber, Gandar, and Bowers (1985), which examined the gambling market efficiency for National Football League games. The findings prove to be consistent with the conclusions …

China’S Financial Institutions: Analysis Of The Dynamic Changes And Associated Inefficiencies Under A Hybrid Capitalistic Approach, Juan J. Zhou

Renée Crown University Honors Thesis Projects - All

Chinahas risen to the forefront of international scrutiny because of its unique political and economic structure and evolution. The growth and development ofChinaas a world economic power has resulted from the political-economic reform efforts of Communist leaders withinChina. Under Mao Ze Dong, during the pre-socialistic modernization period,Chinabegan its reform of rehabilitation from war time and social-economic restructuring by instituting socialistic ideology. During the Dengist period under Deng Xiao Ping, there was a transition from an agricultural to an industrial economy. After Deng, socialist modernization reform has continued underChina’s hybrid capitalistic economic model, with particularly significant effects on the rapidly structured …

Continued Growth In Nebraska, Saeed Ahmad, John Austin, Tom Doering, Ernie Goss, Bruce Johnson, Donis Petersan, Franz Schwarz, Eric Thomson, Keith K. Turner

Economics Faculty Publications

National economic conditions will continue to favor growth over the next three years. Increased business investment will combine with rising industrial production, expanding exports, and moderate increases in consumer spending to grow the economy. The rate of inflation is expected to increase as well. The rate of real (inflation-adjusted) growth will moderate compared to strong economic growth during 2004. Real gross domestic product will grow 3 percent to 3.5 percent over the next three years. High oil prices will remain a drain on the economy, siphoning spending from domestically produced goods and services. Fuel prices are expected to remain at …

Connections Between U.S. Consumer Magazine Cover Characteristics And Single Copy Sales Circulation, Stephanie C. Barlow

Renée Crown University Honors Thesis Projects - All

In the realm of journalism, conventional wisdom suggests that magazine covers “sell” magazines at newsstands. This study explores this idea by looking at the econometric relationship between cover characteristics such as presence of people and “catch” words and single copy sales. Several significant characteristics influencing such sales are found. In addition, this study is based on a new data set developed by the author indicating various characteristics of numbers of magazine covers over a five-year time span.

Specifically, a set of 14 magazines were observed for 10 characteristics. The percentage of the presence of these characteristics on magazine covers over …

School District Consolidation, John Yinger

Center for Policy Research

It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.

What Matters For Financial Development? Capital Controls, Institutions, And Interactions, Menzie David Chinn, Hiro Ito

Economics Faculty Publications and Presentations

We extend our earlier work, focusing on the links between capital account liberalization, legal and institutional development, and financial development, especially that in equity markets. In a panel data analysis encompassing 108 countries and twenty years ranging from 1980 to 2000, we explore several dimensions of the financial sector. First, we test whether financial openness can lead to equity market development when we control for the level of legal and institutional development. Then, we examine whether the opening of the goods sector is a precondition for financial opening. Finally, we investigate whether a well-developed banking sector is a precondition for …

Employment Centers In The Akron, Cleveland And Youngstown Metropolitan Areas, Robert Sadowski

All Maxine Goodman Levin School of Urban Affairs Publications

What is an employment center? McMillen (2003) defines an employment center as a “concentration of firms large enough to have significant effects on the overall spatial distribution of population, employment, and land prices.” Bogart (1998) sees employment centers as a collection of small open economies in a metropolitan area that specialize and trade with each other. Technically speaking, an employment center is a geographic area that exceeds a threshold employment density (employees per square mile) and a threshold employment level.

A Strategy For Growing The Ohio Aerospace & Defense Industry, Jack Kleinhenz, Ziona Austrian, Robert Sadowski, Ed Morrison

All Maxine Goodman Levin School of Urban Affairs Publications

This report provides a strategic framework to guide the activities of the Ohio Aerospace and Defense Advisory Council (OADCAC). The OADAC provides advice to the Governor. Although OADAC does not have operational authority, the OADAC plays an important role in shaping and aligning State policy toward the aerospace and defense industries.

Regional Economic Indicators: Affordability And Quality Of Life, Iryna Lendel

All Maxine Goodman Levin School of Urban Affairs Publications

This study aims to contrast affordability and quality of life as factors of attraction and retention of workforce and businesses in Northeast Ohio’s metro areas with comparable regions across the country. The study is limited to reliable and available data for 36 metropolitan areas from 27 states. As presented, this study serves two purposes: it allows us to compare Cleveland to other metro areas in selected indicators,1 and it creates a valuable database of variables and indicators on affordability and quality of life in 36 metro areas.