Economics Commons^™

Analisis Dampak Kebijakan Fiskal Terhadap Pertumbuhan Ekonomi Di Indonesia, Ahmad Nawawi, Ferry Irawan

Jurnal Ekonomi dan Pembangunan Indonesia

This paper presents an analysis of the effect of fiscal policy in Indonesia based on a VAR ap­ proach. Fiscal policy shocks are identified as a structural residuals related to unexpected government expenditures and tax revenues. Impulse responses are then used to simulate the dynamic response of key macroeconomics variables of shocks. The analysis shows that GDP responses negatively to tax shocks, and positively to expenditure shock. Moreover, disposable income and private consumption react negatively to taxation and positively to government expenditures. Altogether the results are consistent with that of Keynesian models.

Is The Special Purpose Vehicles Act Responsible For The Decline In Npl Ratios?, Stephanie L. Chan, Andrew Adrian Y. Pua

DLSU Business & Economics Review

This study aimed to determine if the SPV Act was actually responsible for the marked decline in NPL ratios this past four years. Using aggregated data for the entire Philippine Banking System, segregated according to type of bank, results suggest that the SPV Act was not responsible for the decline in the NPL ratios but may be attributed to a downward trend in the loan to asset ratio where values are getting closer to the interval for which NPL ratios are at a minimum, economic sluggishness as measured by deviations from the long run trend of macroeconomic variables, and seasonal …

A Comparative Analysis Of The Entrepreneurial Styles Of Second, Third, And Fourth Generation Overseas Chinese And Filipinos In The Philippines, Gerley Q. Po

DLSU Business & Economics Review

This study used the multiple case study research approach and presents a comparative analysis of the similarities and differences in entrepreneurship styles among second, third and fourth generation overseas Chinese and Filipinos in the Philippines. Specifically, it aimed to compare the entrepreneurs’ entrepreneurial characteristics, leadership styles, and value orientation. The results indicate that the two groups are heterogeneous even though they operate business in the same country. However, slowly, the influence of Filipino culture is seen in the fourth generation overseas Chinese. The study hopes to provide new generation of entrepreneurs insights on entrepreneurial styles that need to change to …

Human Resource Management Practices: Drivers For Stimulating Corporate Entrepreneurship In Large Companies In The Philippines, Divina M. Edralin

DLSU Business & Economics Review

Leading companies in the Philippines have realized that nurturing an entrepreneurial culture through the implementation of various strategic human resource management (HRM) practices will enhance their firm’s ability to gain competitive advantage and achieve superior performance. This study attempted to determine the degree to which various HRM practices stimulate corporate entrepreneurship and which HRM function is the most significant driver of corporate entrepreneurship (CE) in large companies in the Philippines. Findings reveal that the companies are extensively implementing different practices related to HRM functions that cultivate CE. Employee relations, training and development, and recruitment and selection HRM functions are found …

Nigeria’S Debt Overhang (1960-2005): A Critical Revisit, Solomon A. Adebola

DLSU Business & Economics Review

A general global trend up to the 1980’s has been for nations to rely substantially on external loans and aids for economic sustenance and technological development. This is particularly true for less developed countries (LDC). Unfortunately for these LDCs, their debts have gone beyond the countries’ capacity to repay. The debts have, for many such developing countries, been on a perpetual geometrical increase. Such countries have ended up with a debt overhang, with its detrimental impacts on the countries’ economic growth and social development. This research note gives a treatise on the theoretical framework of a debt overhang, and a …

Exploratory Market Survey Of Tuba In Tacloban City, Arturo Pacho

DLSU Business & Economics Review

This research note explores the market condition of tuba in Tacloban City in the Philippines. It examined the market viability of tuba as a source of income for small retailers as well as coconut farmers. To determine whether there is any commercial value to tuba, and to what extent, a survey was made on the type of tuba sold, the price it is sold for, the quantity sold, the age of tuba, and the source of tuba. This report provides basic information as to the commercial value of tuba to small store retailers in the city.

The Moralizing Distance In Adam Smith: The Theory Of Moral Sentiments As Possible Praise Of Commerce, Maria Pia Paganelli

Economics Faculty Research

The Theory of Moral Sentiments can be read as a book praising commerce. In The Theory of Moral Sentiments, Adam Smith claims that viewing oneself from a distance decreases the natural tendency toward self-deception and increases the propriety of one’s behavior. In front of strangers and distant acquaintances, an individual would generally restrain the more self-indulgent and excessive passions and be more composed than in front of family and close friends. Frequent exposure to strangers fosters the habit of propriety - the base of moral behavior. Commerce enlarges one’s opportunities to interact with strangers and introduces distance in interpersonal relationships. …

Review Of Keynes And Macroeconomics After 70 Years: Critical Assessments Of The General Theory, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

Foreign Direct Investment And Domestic Investment In The Host Country: Evidence From Panel Study, Miao Wang

Economics Faculty Research and Publications

This article examines the impact of inward Foreign Direct Investment (FDI) on host countries’ domestic investment. Utilizing data from 50 countries over the period of 1970 to 2004, we find that inward FDI has a negative contemporaneous effect on domestic investment, while the cumulative effect of FDI over time tends to be positive. In addition, we separately study FDI in Developed Countries (DCs) and Less Developed Countries (LDCs). The effect of contemporaneous FDI on domestic investment is negative in DCs, and the cumulative effect of FDI is neutral. Strong evidence suggests that the contemporaneous effect of FDI on domestic investment …

Ua37/29 Gary Ransdell - Fed. Reserve Board - American Economic Association Annual Meeting, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board excerpting speeches of Ben Bernanke and Donald Kohn delivered to the American Economic Association in Atlanta, GA.

Domestication Alone Does Not Lead To Inequality: Intergenerational Wealth Transmission Among Horticulturalists, Michael Gurven, Monique Borgerhoff Mulder, Paul L. Hooper, Hillard Kaplan, Robert Quinlan, Rebecca Sear, Eric Schniter, Christopher Von Rueden, Samuel Bowles, Tom Hertz, Adrian Bell

Psychology Faculty Articles and Research

We present empirical measures of wealth inequality and its intergenerational transmission among four horticulturalist populations. Wealth is construed broadly as embodied somatic and neural capital, including body size, fertility and cultural knowledge, material capital such as land and household wealth, and relational capital in the form of coalitional support and field labor. Wealth inequality is moderate for most forms of wealth, and intergenerational wealth transmission is low for material resources and moderate for embodied and relational wealth. Our analysis suggests that domestication alone does not transform social structure; rather, the presence of scarce, defensible resources may be required before inequality …

Loose Papers 1, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Shaikh, A. (2010, June 28). Typed and handwritten notes for KALW Radio interview with Malihe Razazan on EU/US policies, G-20 meetings, and the neoliberal narrative [Interview preparation notes]. Manuscript in possession of the author.

• Shaikh, A. (2010). Handwritten notes for KALW Radio interview mentioning Rose Aguilar, Costas Panayotakis, and Adrian Brown [Interview preparation notes]. Manuscript in possession of the author.

• Shaikh, A. (n.d.). Figure 8: Real GDP growth, 1929–1942 [Chart]. Manuscript in possession of the author.

• Shaikh, A. (n.d.). Government spending growth, 1929–1941 [Chart]. Manuscript in possession of the author.

• Shaikh, A. …

Microfoundations, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Microfoundations: subject outline and reading list. Anwar Shaikh, PhD. Unpublished archival folder cover sheet.
• Golland, L., & Sigmund, K. 2007. Exact thought in a demented time: Karl Menger and his Viennese mathematical colloquium. The Mathematical Intelligencer, volume 29, issue 1. Springer Science and Business Media, New York.
• Rizvi, S. A. T. 2005. Deception and game theory. In C. Gerschlager, Ed., Deception in markets: an economic analysis. Palgrave Macmillan, New York.
• Philp, B., & Young, D. 2002. Preferences, reductionism and the microfoundations of analytical Marxism. Cambridge Journal of Economics, volume 26, issue 3. Oxford University Press, Oxford, on …

Who Benefits From Job Creation At County Level? An Analysis Of Leakage And Spillover Of New Employment Opportunities In Virginia, Xiaobing Shuai

School of Professional and Continuing Studies Faculty Publications

Using an econometric model system built on county level labor market data, this study allocates new employments in Virginia from 1990 to 2000 into various demographic segments: commuters, residents, and new immigrants. The study finds significant leakage of new employment opportunities in Virginia. 52% of new jobs created in the 1990s in a locality were taken by outside commuters. However, Virginia’s localities also benefit from spillover benefits from job creation elsewhere. Economists need to account for employment leakage and spillover to accurately evaluate the fiscal impacts of potential economic development projects.

Money, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Ofonagoro, Walter I. From traditional to British currency in southern Nigeria: Analysis of a currency revolution, 1880-1948. The Journal of Economic History, volume thirty-nine, issue three. Cambridge University Press.
• Shaikh, Anwar. Lab on money, cost of gold production, and notes on Marx. Unpublished manuscript.
• Shaikh, Anwar. Notes on gold and copper prices, and the velocity of circulation. Unpublished manuscript.
• Shaikh, Anwar. Notes on fiat money, quantity of circulating money, and Don Lavoie. Unpublished manuscript.
• Shaikh, Anwar. Chronology of gold prices, post-war gold reserves, and Galbraith. Unpublished manuscript.
• Shaikh, Anwar. Mathematical notes …

Climate Change And The Wto: Legal Issues Concerning Border Tax Adjustments, Henrik Horn, Petros C. Mavroidis

Faculty Scholarship

Climate change is a multi-faceted discussion: for the trading community, one of many contentious issues in the policy debate over how to deal with greenhouse gas (GHG) emissions is the appropriate role of Border Carbon Adjustments (BCAs)/Border Tax Adjustments (BTAs). The role of BCAs has been analyzed in a very large policy discussion literature, as well as in a significant number of academic writings in both law and economics. One can safely summarize the state of each of these literatures as bewildering: in the legal literature there is still no consensus as to whether such measures are legal under the …

The Beginning Of The End? Agricultural Modernization And Dissolution Of The Peasantry In Contemporary China, Qian Forrest Zhang, John A. Donaldson

Research Collection School of Social Sciences

No abstract provided.

Productivity Growth Of Us States, Bibhudutta Panda

LSU Doctoral Dissertations

This dissertation makes a contribution to regional studies by constructing Multi-Factor Productivity (MFP) growth measures at the state level for the US. The first essay of the dissertation exploits a dual growth accounting technique to calculate sector-specific MFP growth for all US states from 1980 onwards. In the process, the essay contributes by constructing a data set on the state level real user cost of capital paying particular attention to inter-state variations in the composition of output, relative prices of investment goods, effective corporate taxes, and inflation rates for the manufacturing and service sectors. Some of the key implications of …

Loose Notes 3, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Crowley, P. M. (2007). A guide to wavelets for economists. Journal of Economic Surveys, 21(2), 207–247.

• Hobijn, B. (2001, October). Is equipment price deflation a statistical artifact? Federal Reserve Bank of New York Economic Policy Review, 7(3), 63–78.

• Hymer, S. (1971, September). Robinson Crusoe and the secret of primitive accumulation. Monthly Review, 23(1), 1–20.

• Shaikh, A. (n.d.). US budget deficit and interest rates [Graph]. Unpublished manuscript.

• Shaikh, A. (n.d.). Typed notes outlining general points on Marx’s theory of money, including tokens, convertibility, the credit system, and business cycle patterns …

Eco104 Schemes Of Reprod & Growth + Eff Dd, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection contains:

• Shaikh, A., PhD. (2001, June 6). Structure of NIPA accounts [Handwritten notes].

• Shaikh, A., PhD. (n.d.). Programming in EViews [Handwritten notes].

• Shaikh, A., & Semmler, W. (1986, Spring). Selected topics in advanced political economy: Growth, cycles, and crisis [Course outline and reading list for ECO 208].

• Semmler, W. (1986). Competition, nonlinear cycles, and growth [Manuscript].

• General two-department flows: Consumption rules and reproduction balance conditions [Typed handout]. (n.d.).

• Shaikh, A., PhD. (2010, December 7). Growth, reproduction, and effective demand [Handwritten notes].

• Engels’s compilation of Marx’s Volumes II and III and the …

(Wp 2009-02) Exchange-Rate Pass Through, Openness, And The Sacrifice Ratio, Joseph P. Daniels, David D. Vanhoose

Economics Working Papers

Considerable recent work has reached mixed conclusions about whether and how globalization affects the inflation‐output trade‐off and suggests that the ultimate effect of openness on the output‐inflation relationship is influenced by a variety of factors. In this paper, we consider the impact of exchange‐rate pass through and how pass through conditions the effect of openness on the sacrifice ratio. We develop a simple theoretical model showing how both the extent of pass through and openness can interact to influence the output‐inflation relationship. Next we empirically explore the nature of these two variables and their interaction. Results indicate that greater pass …

Equilibrium Exchange Rate Of Asian Currencies: The Chinese Renminbi, K. Sato, J. Shimizu, N. Shrestha, Zhaoyong Zhang

Research outputs pre 2011

We estimate the equilibrium exchange rate (EER) of the Chinese renminbi (RMB) vis-à-vis the U.S. dollar from 1992 to 2009. In contrast to the recent empirical studies on the EER employing a large cross-country analysis, we focus on the supply side real factors in estimating the EER by extending the Yoshikawa (1990) model. To better reflect China's processing exports in the context of growing intra-regional trade in Asia, we incorporate in the empirical analysis the source country breakdown data on import prices and input coefficients of intermediate inputs by constructing an annual new International Input-Output (IIO) table for the period …

Revisiting The 1997 Asian Financial Crisis: A Copula Approach, A. Tsui, Zhaoyong Zhang

Research outputs pre 2011

This study is motivated by the stylized fact that the asymmetry in dependence usually exists in returns of financial data series. Owing to political and monetary reasons, this phenomenon may be present in daily changes of exchange rates. In this paper, we study the relationships between five currencies in Asia around the period of Asian Financial Crisis in 1997, including the Singapore Dollar, Japanese Yen, South Korea Won, Thailand Baht and Indonesia Rupiah. We employ various time-varying copula models to examine the possible structural breaks. The results indicate significant changes at the dependence level, tail behavior and asymmetry structures between …

Evaluating Currency Convergence In East Asia, Lee Lim

Research outputs pre 2011

There have been increased debates among economic analysts and policy makers on the role of financial globalization in economic growth and the importance of openness to international trade followed the global financial crisis (GFC) of 2007-2009. The global crisis has affected both the developed and emerging-market economies in East Asia where major stock markets plunged along with the US market and many currencies also fell against the US dollar. Although the impact of the US-led GFC was less severe than the 1997-1998 financial crisis, a large empirical literature has emerged examining the future directions of monetary and exchange rate arrangements …

The Boycott Model Of Foreign Product Purchase: An Empirical Test In China, Malcolm Smith, Qianpin Li

Research outputs pre 2011

The primary purpose of this paper is to investigate and ascertain the effects of integrative motivation on the willingness to participate in boycott activities. This paper uses a mail survey to examine the relationships among six constructs in a boycotting issue context, in order to explore Chinese consumers’ willingness to boycott against Japanese products or services with the fallout from a Japanese former PM’s continuous visits to a controversial war shrine since 2001. The findings suggest that there are significant and positive pairwise relationships between boycott participation and three factors (i.e. animosity, efficacy, and prior purchase). High animosity towards Japanese …

The Role And Relevance Of Domain Knowledge, Perceptions Of Planning Importance, And Risk Tolerance In Predicting Savings Intentions, Peter Croy, Paul Gerrans, Craig Speelman

Research outputs pre 2011

The need for individuals to increase retirement savings has been widely promoted, yet our understanding of the motivations of individuals to save at a higher rate remains sparse. This paper reports the findings of a survey of 2300 retirement savings fund members and their motivations to contribute more to savings and to actively manage their investment strategy. Utilising the theory of planned behavior, the study reveals respondent’s self-reported attitudes, subjective norms and perceptions of behavioral control account for a high proportion of the variance in behavioral intention. Contrary to expectations, the study finds that respondent’s risk tolerance adds little to …

Volatility And Correlations For Stock Markets In The Emerging Economies Of Central And Eastern Europe : Implications For European Investors, David E. Allen, A. Golab, Robert Powell

Research outputs pre 2011

This paper examines the European investment implications of the recent European Union (EU) expansion to encompass former Eastern bloc economies. What are the risk and return characteristics of these markets pre- and post-EU? What are the implications for investors within the Euro zone? Should investors diversify outside the Central and Eastern Europe (CEE)? The former Eastern bloc economies constitute emerging markets which typically offer attractive risk-adjusted returns for international investors. In this paper, we explore a number of aspects of this important issue and their implications for CEE based investors, culminating in a Markowitz efficient frontier analysis of these markets …

Caviar And The Australian Stock Markets : An Appetiser, David E. Allen, A. K. Singh

Research outputs pre 2011

Value-at-Risk (VaR) has become the universally accepted metric adopted internationally under the Basel Accords for banking industry internal control and for regulatory reporting. This has focused attention on methods of measuring, estimating and forecasting lower tail risk. One promising technique is Quantile Regression which holds the promise of efficiently calculating (VAR). To this end, Engle and Manganelli in (2004) developed their CAViaR model (Conditional Autoregressive Value at Risk). In this paper we apply their model to Australian Stock Market indices and a sample of stocks, and test the efficacy of four different specifications of the model in a set of …

Credit Risk And Real Capital : An Examination Of Swiss Banking Sector Default Risk Using Cvar, Robert J. Powell, David E. Allen

Research outputs pre 2011

The global financial crisis (GFC) has placed the creditworthiness of banks under intense scrutiny. In particular, capital adequacy has been called into question. Current capital requirements make no allowance for capital erosion caused by movements in the market value of assets. This paper examines default probabilities of Swiss banks under extreme conditions using structural modeling techniques. Conditional Value at Risk (CVaR) and conditional probability of default (CPD) techniques are used to measure capital erosion. Significant increase in probability of default (PD) is found during the GFC period. The market asset value based approach indicates a much higher PD than external …

Examining The Existence Of Long-Run Relationships Between East Asian Economic Integration And Asean Tourism Exports, Ghialy Choy Lee Yap

Research outputs pre 2011

This paper examines the existence of long-run relationships between East Asian economic integration and tourism exports for nine selected ASEAN States for the period 1996-2007. I employ tourist arrivals data as a proxy for tourism exports and trade ratios as a proxy for the economic integration. Using Johansen’s Fisher panel cointegration test, the findings show that tourist arrivals and trade ratios are cointegrated in seven out of nine Southeast Asia countries. This suggests that East Asia economic integration can be one of the important factors that influence international tourism demand to ASEAN States in the long-run. However, for Laos and …