Economics Commons^™

The Resource Curse: The Cases Of Botswana And Zambia, Audria Crain

Electronic Theses and Dissertations

A puzzling correlation has been observed over the last thirty years between slow or negative economic growth and countries with large export dependence on natural resources. This correlation has been dubbed "the resource curse." It has been argued that resource wealth has an inherently negative effect on the economic growth of developing countries. Zambia is such a country in which resource-dependence has been coupled with poor economic performance; Botswana, however, is an important exception to this phenomenon. The question is: Why or how has Botswana surmounted the effects of the resource curse while Zambia has not? A comparative case analysis …

Assessing The Spillover Effects Of Fdi To The Philippines, Fernando T. Aldaba, Rafaelita M. Aldaba

Economics Department Faculty Publications

The experience of the Philippines shows that FDI spillover effects are not automatically generated. Opening up the economy to FDI has contributed to the country’s exports of high-technology products and overall economic growth. However, the spillover effects of FDI to domestic firms have remained limited due to the domestic firms’ weak competitiveness and inability to absorb the technology or knowledge being transferred. The government needs to adopt a more comprehensive approach that would combine industrial policy to improve and develop domestic parts and supplier firms with measures to create an environment conducive to the creation and expansion of FDI-related spillovers …

Oliver Tambo Lecture Notes 2010, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Notes for the 9th Oliver Tambo Lecture at Delhi University DCRC (2010-11-12).

• Notes on The theory and ideology of neoliberalism: Globalization, justice, and democracy (2010-11-11).

Accidental Leaders No More: Challenges Facing Healthcare Leaders Of Today And Tomorrow, Knowledge@Smu

Knowledge@SMU

Singapore’s ageing population means healthcare costs are going up at faster than ever. The heavier workload and growing business opportunities within this essential industry also means that on-going tensions between the public and private sectors are unlikely to go away anytime soon. Yet, at the same time, the industry faces multi-dimensional challenges, like rapidly-changing technology and fierce competition for talent. How can healthcare organisations prepare themselves for the challenges ahead? For a start, they could use a pipeline of formally-trained leaders.

Revealed Preferences For Risk And Ambiguity, Donald J. Brown, Chandra Erdman, Kirsten Ling, Laurie Santos

Cowles Foundation Discussion Papers

We replicate the essentials of the Huettel et al. (2006) experiment on choice under uncertainty with 30 Yale undergraduates, where subjects make 200 pair-wise choices between risky and ambiguous lotteries. Inferences about the independence of economic preferences for risk and ambiguity are derived from estimation of a mixed logit model, where the choice probabilities are functions of two random effects: the proxies for risk-aversion and ambiguity-aversion. [Our principal empirical finding is that we cannot reject the null hypothesis that risk and ambiguity are independent in economic choice under uncertainty. This finding is consistent with the hypothesized independence of the neural …

Mechanism Design With Limited Information: The Case Of Nonlinear Pricing, Dirk Bergemann, Ji Shen, Yun Xu, Edmund M. Yeh

Cowles Foundation Discussion Papers

We analyze the canonical nonlinear pricing model with limited information. A seller offers a menu with a finite number of choices to a continuum of buyers with a continuum of possible valuations. By revealing an underlying connection to quantization theory, we derive the optimal finite menu for the socially efficient and the revenue-maximizing mechanism. In both cases, we provide an estimate of the loss resulting from the usage of a finite n-class menu. We show that the losses converge to zero at a rate proportional to 1/n2 asn becomes large.

The Initial And Aftermarket Performance Of Ipos In An Emerging Market : The Case Of Malaysian Stock Exchange., Ricky Wong Baan Wahh

Student Works (2010-2019)

The study of initial public offering (IPO) underpricing and its post-listing underperformance has been one of those issues that are never laid to rest. The ongoing quest for the reasons behind IPO underpricing and its subsequent poor post-listing returns is what motivates this paper to study these anomalous market behaviours in an emerging market setting such as Malaysia. The primary purpose of this paper is to analyze the existence and magnitude of the underpricing phenomenon and post listing performance of IPOs listed in Bursa Malaysia from 1998 to 2008. Moreover, this study aims to provide an insight primarily into the …

Functional Food And Malaysian Consumers., Tan Li Li

Student Works (2010-2019)

Functional Food refers to foods and beverages that have beneficial effects beyond that of basic nutrition, purposeful to improve health and reduce the risk of diseases (IFIC, 2009). Different ethnic, cultures and religions perceive products differently in Malaysia. Therefore, marketers may have difficulties to reach out to their target market. The purpose of this research paper is to investigate the factors affecting the purchase intention of Functional Food in Malaysia. It is imperative to note that attitude, health consciousness, religion and beliefs are important factors which influence consumers purchase intention of Functional Food in Malaysia. The researcher has developed 56 …

Independent Financial Adviser : Key Factors For Engagement In Malaysia., Wan Azrul Wan Zainal Abidin

Student Works (2010-2019)

This study aims to investigate the key factors for engagement of the Independent Financial Adviser (IFA) in Malaysia. The objective of this study is to identify the key factor for the Malaysian public to engage the service of an IFA and their preference for the delivery of service by the IFA. This is in accordance to the initiative of the Malaysian Financial Sector Master Plan (FSMP) introduced in 2001. The finding of this research is important to the Malaysian consumer and the IFA since they would be able to mutually benefit from the understanding of how each fits into the …

Introduction: Culture, Economy, Policy: Trends And Developments, Lily Kong

Research Collection School of Social Sciences

The important nexus between culture and economy is by no means a recent development nor a novel inclusion on the social science agenda. As Harvey pointed out in his foreword to Zukin's (1988)Loft Living, the artist, as one `representative' of the cultural class, has always shared a position in the market system, whether as artisans or as “cultural producers working to the command of hegemonic class interest”. In the last two to three decades, in the US and more lately, in western Europe, cultural activities have become increasingly significant in the economic regeneration strategies in many cities. Geographers, however, have …

A Spatial Analysis Of Aggregate And Industry-Level Fdi In China, Shalendra Sharma, Miao Grace Wang, M. C. Sunny Wong

Economics Faculty Research and Publications

No abstract provided.

Turkey: Another $1 Trillion Emerging Economy?, Murat Doral

Faculty Articles

The strategic location of Turkey makes it a very important country in terms of geopolitics as well as economics. Turkey is located at the crossroads of Europe, Asia, the Caucasus, and the Middle East. It is where East meets West without clashing with each other but merging with each other. Even though, industry, trade, and finance are all dominated by the expansive and crowded Istanbul, other cities and towns in Anatolia –the Anatolian Tigers- are industrializing rapidly and now participating in the global economy. Today, Turkey has the largest economy in the greater Middle East. Depending of the source, Turkey …

Bayesian Analysis Of Structural Credit Risk Models With Microstructure Noises, Shirley J. Huang, Jun Yu

Research Collection Lee Kong Chian School Of Business

In this paper a Markov chain Monte Carlo (MCMC) technique is developed for the Bayesian analysis of structural credit risk models with microstructure noises. The technique is based on the general Bayesian approach with posterior computations performed by Gibbs sampling. Simulations from the Markov chain, whose stationary distribution converges to the posterior distribution, enable exact finite sample inferences of model parameters. The exact inferences can easily be extended to latent state variables and any nonlinear transformation of state variables and parameters, facilitating practical credit risk applications. In addition, the comparison of alternative models can be based on devian information criterion …

Group Reputation, Anonymous Matching, And External Monitoring In A Model Of Corruption, Huan Wang, Yi Zhang

Research Collection School Of Economics

We explore what group reputation is and model its formation and evolution. Based solely on group signals, we define a player’s group reputation as the belief that others have about the characteristics of the group the player belongs to. A model of group reputation of civil servants with anonymous matching and external monitoring is constructed to characterize the strategic behavior of potential bribers and civil servants, the corresponding levels of corruption, possible anti-corruption policies, and the effects of these policies. Our results indicate that as there are two types of corruption behavior of civil servants: accepting bribes and dereliction of …

Sex Ratios, Divorce Laws And The Marriage Market, Brishti Guha

Research Collection School Of Economics

We show how an interaction between the skewness of the sex ratio and the jump in divorce rates after a liberalization in divorce laws can obtain in a model of marriage market matching with non-transferable utility. This model is partly motivated by a significant cross-country correlation between these two variables. We also find that men’s hopes or fears about women’s marriage market odds are self-confirming under mutual consent, resulting in multiple equilibria. The multiplicity vanishes with a more skewed sex ratio or a liberalization of divorce laws. Our work sheds some light on the possible implications of divorce liberalization and …

Conformism And Turnout, Massimiliano Landi, Mauro Sodini

Research Collection School Of Economics

This paper proposes a model of turnout in which citizens have a preference for conformism, which adds to the instrumental preference for the electoral outcome. Under this environment multiple equilibria arise, some that generate a (more realistic) high level of turnout, for a wide rage of parameter values. It is also shown that high levels of turnout are robust to the introduction of asymmetry and heterogeneity in the parameter governing the preference for conformism and with respect to the reference group for conformism.

This model suggests that high turnout can only be achieved as the outcome of a particular coordination …

Unpacking Sources Of Comparative Advantage: A Quantitative Approach, Davin Chor

Research Collection School Of Economics

This paper develops an approach for quantifying the importance of different sources of comparative advantage, by extending the Eaton and Kortum (2002) model to predict industry trade flows. In this framework, comparative advantage is determined by the interaction of country and industry characteristics, with countries specializing in industries whose production needs they can best meet with their factor endowments and institutional strengths. I estimate the model parameters using: (i) OLS; and (ii) a simulated method of moments procedure that accounts for the prevalence of zeros in the bilateral trade data. I apply the model to explore various quantitative questions, such …

Battese-Coelli Estimator With Endogenous Regressors, Levent Kutlu

School of Economics and Finance Faculty Publications

We provide a framework for dealing with the endogeneity problem in the Battese-Coelli estimator for productive efficiency measurement.

Economic Impact Of Agriculture On South Dakota, Gary Taylor

Economics Commentator (1972- 2016)

No abstract provided.

Institutions For Market Governance And Doing Business, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to place the topic assigned to me in the larger context of separation of functions of policy making, ownership of the assets and regulatory oversight. Until the beginning of this decade all these varied functions in Pakistan were bundled together and carried out by each Ministry. In early 2000s the Cabinet decided to unbundle these functions to avoid conflict of interest, protect consumers and provide a level playing field for both the public and private sectors. The concern was: How can a private firm compete with a public sector firm in the same field when the owner …

Providing A Voice To ‘Excluded’ Nations In The G20, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The formation of the G20 grouping of finance ministers and central bank governors and their heads of state is indeed a significant improvement compared to the previous G8 arrangements. The dynamic changes in global economic output and international trade are adequately reflected in this expanded group. The inclusion of 10 emerging economies such as South Africa, Mexico, Argentina, Brazil, China, South Korea, India, Indonesia, South Arabia and Turkey in the consultative process has broadened the scope of the dialogue. but it still excludes 170 nations from direct participation in this forum. Norway, one of the major donors to development programs, …

Capital And Labor Mobility And Their Impacts On Mexico’S Regional Labor Markets, Rene Cabral, Andre V. Mollick, João Ricardo Faria

School of Economics and Finance Faculty Publications

This paper studies the effects of capital and labor mobility on real wages across Mexican states for the period 1997–2006. Employing dynamic panel data methods, we find: (1) strong positive effects on real wages from foreign direct investment (FDI) and from migration; (2) domestic and foreign migration provide similar wage effects; and (3) alternative partitions indicate that real wages are more sensitive to FDI-related fluctuations across states with relatively lower wages and migration levels. Overall, these results provide support that real wages respond positively to fluctuations in capital flows and labour movements as predicted from the theory.

Estimating The Costs Per Job Created Of Employer Subsidy Programs, Timothy J. Bartik

Conference Papers

No abstract provided.

The Housing Market 'Reset' And The Future Of American Housing Policy, Alan Mallach

Brookings Scholar Lecture Series

The foreclosure crisis and the collapse in housing prices that have engulfed much of the United States are fundamentally changing the ways in which the American housing market works, challenging many of the assumptions about the role of housing and the housing market that we have held for the past decades. In my lecture, I will discuss how and why those changes are taking place and how they vary across the United States and explore what they mean for American housing policy in the future, and how they are making us reconsider how we think about home ownership, rental housing, …

Economic Stability And Growth In Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

This lecture is divided into four parts. I would begin by narrating the pre-requisites for economic stability and growth at a generalized level drawing on the experience of the last six decades. Then I would dwell upon the positive factors in Pakistan that can influence the rate of economic growth. Next I take up the negative domestic factors that are impeding the path of economic growth followed by the external shocks that have worsened the situation.

Ua37/29 Gary Ransdell - Monetary Policy In A Low-Inflation Environment, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's speech, Revisiting Monetary Policy in a Low-Inflation Environment delivered at the Federal Reserve Bank of Boston Conference in Boston, Massachusetts.

The Response Of The U.S. Workforce System To The Needs Of Workers During The Current Recession, Randall W. Eberts

Conference Papers

No abstract provided.

Tools And Methods To Anticipate Local Job Creation & Suppression: Opportunities And Threats, Randall W. Eberts

Conference Papers

No abstract provided.

Capital Markets, Cdfis, And Organizational Credit Risk, Charles Tansey, Michael E. Swack, Michael Tansey, Vicky Stein

Carsey Publications

Can Community Development Financial Institutions (CDFIs) get unlimited amounts of low cost, unsecured, short- and long-term funding from the capital markets based on their organizational credit risk? Can they get pricing, flexibility, and procedural parity with for-profit corporations of equivalent credit risk? One of the key objectives of this book is to explain the reasons why the answer to the two questions above remains “no.” The other two key objectives are to show the inner workings of what has been done to date to overcome the obstacles so that we don’t have to retrace the same steps and recommend additional …

Talent 2025: Assessment Of The West Michigan Talent Development System, George Erickcek, Brian Pittelko, Bridget Timmeney, Brad R. Watts

Reports

No abstract provided.