Economics Commons^™

Economic Growth And Human Capital Development: The Case Study Of Nigeria, Moses F. Otu, Adeniyi O. Adenuga

Economic and Financial Review

The paper examines empirically the relationship between economic growth and human capital development using Nigeria data. Microeconomics variables such as Growth of real gross domestic products (RGDPG), capital expenditure (CE) on education. recurrent expenditure on education (RE), real gross capital formation (RGCF) was used to proxy physical formation, enrolment into primary (PRYE), post-primary (PPE) and tertiary (TERE) educational institutional were used to proxy human capital development. It found that investment in human capital, through the availability of infrastructure requirements in the education sector accelerates economics growth.

Risk-Based Capital Standard For Banks: A Critique, N. Arua

Economic and Financial Review

This paper presents a critique of the form of the risk- based capital standard known as Basel I & II. It examines the likely implication of the Based II capital accord for the Nigerian banking system and advises that the CBN should consider carefully the cost of implication of the new Accord before developing a timetable for its implementation.

Towards Developing A Vibrant Bonds Market In Nigeria: A Review, Salam N. Gbadebo

Economic and Financial Review

The paper highlights two major challenges in bond market which reflects in Nigeria. The author suggests methods and proposal that will enhance a better performance derivatives in long time. The article seek to established the narrative on two argument that, bond finance is less expansionary than money finance and that the expansion is sometime undesirable. While the Microeconomics argument posited that bonds are issued for different reasons. the findings revealed that corporate borrowers use debt market to obtain working capital and new equipment.

Education Policy Should Not Be Based On Programs That Cannot Be Replicated, 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.

Labor Supply With Social Interactions: Econometric Estimates And Their Tax Policy Implications, Andrew Grodner, Thomas J. Kniesner

Center for Policy Research

Our research fleshes out econometric details of examining possible social interactions in labor supply. We look for a response of a person's hours worked to hours worked in the labor market reference group, which includes those with similar age, family structure, and location. We identify endogenous spillovers by instrumenting average hours worked in the reference group with hours worked in neighboring reference groups. Estimates of the canonical labor supply model indicate positive economically important spillovers for adult men. The estimated total wage elasticity of labor supply is 0.22, where 0.08 is the exogenous wage change effect and 0.14 is the …

The State Of The Region: Hampton Roads 2006, James V. Koch, Vinod Agarwal, Adrianne Barrett, David Basco, John R. Broderick, Chris Colburn, Vicky Curtis, Steve Daniel, Susan Hughes, Marshall Hutto, Elizabeth Janik, Mark Koch, Feng Lian, Terry Lindvall, Sharon Lomax, Janet Molinaro, John A. Sokolowski, Ray White, Gilbert Yochum

Economics Faculty Books

This is Old Dominion University's seventh annual State of the Region report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion, or it's president, Roseann Runte.

The report maintains the goal of stimulating thought and discussion that ultimately will make Hampton Roads an even better place to live. We are proud of our region's many successes, but realize that it is possible to improve our performance. In order to do so, we must have accurate information about "where we are" and a sound …

Performance, Growth And Earnings Management, Chi Wen Jevons Lee, Laura Yue Li, Heng Yue

Research Collection School Of Accountancy

We study the relationship between the amount of managed earnings and firms' earnings performance and expected growth in a reporting model, where managers manipulate earnings to influence the valuation of firms' equity while bearing a cost that is increasing and convex in the amount of managed earnings. In the unique revealing equilibrium to the model, firms with higher performance and growth over-report earnings by a larger amount because price responsiveness increases with earnings performance and growth. And earnings quality, defined as the proportion of true economic earnings in total reported earnings, increases with earnings performance but decreases with earnings growth. …

What Makes A Region Entrepreneurial? A Review Of The Literature, Jill S. Taylor

All Maxine Goodman Levin School of Urban Affairs Publications

In recent years, there has been a growing focus on entrepreneurship as a principal source of economic growth. Many economic development practitioners and public policymakers are taking note of this, shifting attention and resources toward activities to support entrepreneurship. This reflects a broader shift toward strategies that spur growth from within (endogenous growth) rather than seeking economic gains from the outside (exogenous growth).

Northeast Ohio Entrepreneurship Confidence Survey: First Year Findings, Jill S. Taylor

All Maxine Goodman Levin School of Urban Affairs Publications

The objective of the entrepreneurship Confidence Survey is to assess the entrepreneurial climate and entrepreneurs’ confidence in their ability to start and sustain a business in Northeast Ohio. The intention is to repeat the survey annually for the next several years to identify trends that might emerge. The survey has been constructed to measure respondents’ perceptions regarding several issues, including access to capital, workforce supply, information provided by educational institutions and business support organizations, networking opportunities, government responsiveness, attitudes toward entrepreneurs, adequacy of infrastructure, quality of life, and confidence in the regional economy and the ability to start or sustain …

Social Identity Strategies In Recent Economics, John B. Davis

Economics Faculty Research and Publications

This paper reviews three distinct strategies in recent economics for using the concept of social identity in the explanation of individual behavior: Akerlof and Kranton's neoclassical approach, Sen's commitment approach and Kirman et al.'s complexity approach. The primary focus is the multiple selves problem and the difficulties associated with failing to explain social identity and personal identity together. The argument of the paper is that too narrow a scope for reflexivity in individual decision‐making renders the problem intractable, but that enlarging this scope makes it possible to explain personal and social identity together in connection with an individual behavior …

Extreme Observations In The Mena Stock Markets And Their Implication For Var Measures, Ata Assaf

Topics in Middle Eastern and North African Economies

No abstract provided.

The Appropriate Monetary Policy Coordination For The Gcc Monetary Union, Bassem Kamar, Damyana Bakardzhieva

Topics in Middle Eastern and North African Economies

No abstract provided.

Services Liberalization And The Role Of Natural Resources, Hatem Samman, Sheikh Shahnawaz

Topics in Middle Eastern and North African Economies

No abstract provided.

Absolute Convergence Of The Regions And Provinces Of Turkey, Haluk Erlat, Pelin Ozkan

Topics in Middle Eastern and North African Economies

No abstract provided.

Pricing Risk, Oil And Financial Factors In Saudi Sector Index Returns, Shawkat Hammoudeh, Salim Al-Gudhea

Topics in Middle Eastern and North African Economies

No abstract provided.

Net Impact And Benefit-Cost Estimates Of The Workforce Development System In Washington State, Kevin Hollenbeck, Wei-Jang Huang

Upjohn Institute Technical Reports

This study estimates the net impacts and private and social benefits and costs of 11workforce development programs administered in Washington State. Six of the programs serve job-ready adults: Workforce Investment Act (WIA) Title I-B Adult programs, WIA Title I-B Dislocated Worker programs, Community and Technical College Job Preparatory Training, Community and Technical College Worker Retraining, Private Career Schools, and Apprenticeships. Three of the programs serve adults with employment barriers: Community and Technical College Adult Basic Skills Education, Division of Vocational Rehabilitation programs, and Department of Services for the Blind programs. The other two programs serve youth: WIA Title I-B Youth …

Data User Conference_2004 - 2011, University Of New Mexico Bureau Of Business And Economic Research, New Mexico Economic Development Department

Historic Publications

DATA USER CONFERENCE.

The Property Tax In The Slovak Republic: Major Reforms And Striking Results, Phillip J. Bryson

Faculty Publications

This article is based on a presentation given on August 24, 2005, at the International Property Tax Institute’s 8th International Conference on Property Tax in Transition held in Prague, Czech Republic.

Multivariate Stochastic Volatility Models: Bayesian Estimation And Model Comparison, Jun Yu, Renate Meyer

Research Collection School Of Economics

In this paper we show that fully likelihood-based estimation and comparison of multivariate stochastic volatility (SV) models can be easily performed via a freely available Bayesian software called WinBUGS. Moreover, we introduce to the literature several new specifications that are natural extensions to certain existing models, one of which allows for time-varying correlation coefficients. Ideas are illustrated by fitting, to a bivariate time series data of weekly exchange rates, nine multivariate SV models, including the specifications with Granger causality in volatility, time-varying correlations, heavy-tailed error distributions, additive factor structure, and multiplicative factor structure. Empirical results suggest that the best specifications …

Set Inference For Semiparametric Discrete Games, Kyoo-Il Kim

Research Collection School Of Economics

We consider estimation and inference of parameters in discrete games allowing for multiple equilibria, without using an equilibrium selection rule. We do a set inference while a game model can contain infinite dimensional parameters. Examples can include signaling games with discrete types where the type distribution is nonparametrically specified and entry-exit games with partially linear payoffs functions. A consistent set estimator and a confidence interval of a function of parameters are provided in this paper. We note that achieving a consistent point estimation often requires an information reduction. Due to this less use of information, we may end up a …

Higher Order Bias Correcting Moment Equation For M-Estimation And Its Higher Order Efficiency, Kyoo-Il Kim

Research Collection School Of Economics

This paper studies an alternative bias correction for the M-estimator, which is obtained by correcting the moment equation in the spirit of Firth (1993). In particular, this paper compares the stochastic expansions of the analytically bias-corrected estimator and the alternative estimator and finds that the third-order stochastic expansions of these two estimators are identical. This implies that at least in terms of the third order stochastic expansion, we cannot improve on the simple one-step bias correction by using the bias correction of moment equations. Though the result in this paper is for a fixed number of parameters, our intuition may …

Uniform Convergence Rate Of The Snp Density Estimator And Testing For Similarity Of Two Unknown Densities, Kyoo-Il Kim

Research Collection School Of Economics

This paper studies the uniform convergence rate of the turncated SNP (semi-nonparametric) density estimator. Using the uniform convergence rate result we obtain, we propose a test statistic testing the equivalence of two unknown densities where two densities are estimated using the SNP estimator and supports of densities are possibly unbounded.

Semiparametric Estimation Of Signaling Games, Kyoo-Il Kim

Research Collection School Of Economics

This paper studies an econometric modeling of a signaling game with two players where one player has one of two types. In particular, we develop an estimation strategy that identifies the payoffs structure and the distribution of types from data of observed actions. We can achieve uniqueness of equilibrium using a refinement, which enables us to identify the parameters of interest. In the game, we consider non-strategic public signals about the types. Because the mixing distribution of these signals is nonparametrically specified, we propose to estimate the model using a sieve conditional MLE. We achieve the consistency and the asymptotic …

On The Magnet Effect Of Foreign Direct Investment, Pao Li Chang, Chia-Hui Lu

Research Collection School Of Economics

We extend Antras and Helpman (2004) on firm heterogeneity and organizational choice to a dynamic setting with FDI uncertainty, in which the probability of investment failure decreases with the host country's infrastructure level and increases with the technological complexity facing each firm. Moreover, it decreases over time as the accumulated mass of firms succeeding in FDI increases. We show that a minimum level of infrastructure is required to trigger a first wave of industrial migration. We then formalize the often noted "magnet effect" of FDI - the first wave of industrial migration generates positive externality (information spillover) for subsequent investors, …

New Mexico Labor Market Review 08-31-2006, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers July 2006.

Explaining The Value Of Transactional Lawyering, Steven L. Schwarcz

ExpressO

This article attempts, empirically, to explain the value that lawyers add when acting as counsel to parties in business transactions. Contrary to existing scholarship, which is based mostly on theory, this article shows that transactional lawyers add value primarily by reducing regulatory costs, thereby challenging the reigning models of transactional lawyers as “transaction cost engineers” and “reputational intermediaries.” This new model not only helps inform contract theory but also reveals a profoundly different vision than existing models for the future of legal education and the profession.

Playing Poker At The U.N., Paul Herman Brietzke

ExpressO

No abstract provided.

Winter Wheat Decisions, Jack Davis, Matthew Diersen, Alan May

Economics Commentator (1972- 2016)

No abstract provided.

Who Decides?: A Critical Look At Procedural Discretion, Robert G. Bone

ExpressO

Federal civil procedure today relies extensively on trial judge discretion to manage litigation, promote settlements, and otherwise tailor process to individual cases. Even those rules with decisional standards leave trial judges considerable interpretive freedom to make case-specific determinations. This Article criticizes these choices and recommends stricter rules. Many judges and procedure scholars applaud the discretionary approach, and the Advisory Committee seems content to draft vague rules that implement it. The assumption seems to be that trial judges have the expertise and experience to do a good job of tailoring procedures to the needs of particular cases. The assumption is wrong, …

Revitalizing Our Urban Core Without Marginalizing Our Core People: Closing Tax Credit Loopholes For The Wealthy While Generating Ethnic Entrepreneurial Self Help Alternatives To Subsidized Gentrification, Roger M. Groves

ExpressO

This article provides the most comprehensive analysis to date of the New Markets Tax Credits program established by Congress. The purpose of the NMTCs is to use tax credits as incentives for investors to provide equity funds into low income areas. The article reveals that over $2 billion of federal tax subsidies that have been allocated to gentrified projects for the wealthy, rather than the intended beneficiaries – low income residents in the urban core – as Congress intended. The article proposes amendments to the statute and regulations to close unintended loopholes.

The article also creates a model for a …