Economics Commons^™

Factors Affecting Economic Growth In Developing Countries, Parash Upreti

Major Themes in Economics

This paper aims to identify the factors affecting economic growth in developing countries. It uses cross-country data for 76 countries from 2010, 2005, 2000, and 1995. A high volume of exports, plentiful natural resources, longer life expectancy, and higher investment rates have positive impacts on the growth of per capita gross domestic product in developing countries. Much research needs to be done to distinguish the causes of growth in developing countries, as the scope of existing research is limited due to a lack of reliable data.

Easterlin Or Cantril: Does A Country’S Income Determine Its People’S Happiness?, Jon Heinzman

Major Themes in Economics

. Is high-income one way to achieve happiness? The first two researchers to investigate the question empirically looked at individual countries over time. One researcher found a positive relationship between income and happiness; the other did not. Subsequent researchers have found support for both views. This paper summarizes and critiques the arguments, finding that the answer may lie in genetics and spending habits. Although some people may be genetically predisposed to happiness, ignoring social comparisons and hedonic adaption may help one lead a happier life.

By How Much Does A College Degree Affect Earnings?, Jennifer Lewis

Major Themes in Economics

The purpose of this research is to understand how a college degree will affect an individual’s earnings. I use data from the American Community Survey and a human capital model to investigate the question. Earnings increase around 60 percent when an individual earns any form of college degree. There are other factors that influence both income and an individual’s decision to continue education after high school, but this model suggests that furthering education should lead to higher earnings.

Latinos In The Major Leagues From 1920 To 1939: A Human Capital Approach, Tom Cullen

Major Themes in Economics

Economists frequently study the determinants of baseball players’ wages. Researchers usually control for measures of productivity such as the player's batting average, home runs, and runs batted in, education, age, and experience. This study differs from standard studies in that it considers players’ country of origin in the 1920s and 1930s, years before Jackie Robinson’s debut. It uses information on player productivity from Baseball-Reference.com, player salary information from the Baseball Hall of Fame and Museum (graciously shared by its compiler), and information on college attendance provided by Who's Who in Baseball (held at the Joyce Sports Collection, Notre Dame University). …

Identity, Movement And Belonging In A Land Of Tradition: A Critical Examination Of The Nepali Workforce In Leh, Ladakh, Teresa Langseth-Depaolis

Independent Study Project (ISP) Collection

In recent years, Nepal has emerged at the forefront of the international labor market with a growing and continuous out-flow of migrant laborers. Such migratory patterns have landed people from Nepal in jobs all over the world; from power plants in Dubai to coffee shops in Toronto. This study situates the phenomenon of Nepali migrant labor in the rapidly urbanizing capital of Leh, Ladakh, and examines the experiences of identity and complexities of belonging within the transnational system of migration.

I was prompted to conduct research in Leh after having heard from a local man that there was a small …

The Curious Case Of Solu Khumbu: A Study Of The Effects Of Tourism In The Town Of Junbesi, Hannah Cho

Independent Study Project (ISP) Collection

Before 1953, the year that Edmund Hillary and Tenzing Norgay summited Everest, almost all Sherpas were subsistence farmers, traders, and herders. But ever since the 1980’s, Sherpas have taken over the trekking industry in this region. The increase of tourism and the monopolization of this industry have altered the livelihoods of Sherpas in Solu Khumbu. However, most tourism related research on Solu Khumbu has been done primarily on upper Khumbu, which has been affected by tourism drastically differently than Solu. I will be doing a case study of how the changes in tourism have affected Junbesi, a popular agriculture based …

Extractivist Agribusiness Model: Analysis Of Social Resistances Emerging In Response To The Extractivist Agribusiness Model: A Case Study Of The Industrial Belt Of Gran Rosario, Alexa González

Independent Study Project (ISP) Collection

In regards to human rights and environmental rights, there is a paradox that exists between the rhetoric and actions of the government regarding agribusiness. While the Argentine government increasingly connects their rhetoric to the promotion of these rights, they have allowed transnational corporations to modify the agricultural model in a way that exploits the land for the production of commodities. People living in fields where biotechnology is operated and urban-industrial zones where the commodities are exported report health problems and deaths in light of the corporations’ presence. Confronted with the degradation of their fundamental rights, those whose lives are being …

Sectoral Initiatives And Opportunity Youth, Kevin Hollenbeck

Employment Research Newsletter

No abstract provided.

Sieve Estimation Of Time-Varying Panel Data Models With Latent Structures, Liangjun Su, Xia Wang, Sainan Jin

Research Collection School Of Economics

We consider the problem of determining the number of factors and selecting the proper regressors in linear dynamic panel data models with interactive fixed effects. Based on the preliminary estimates of the slope parameters and factors a la Bai and Ng (2009) and Moon andWeidner (2014a), we propose a method for simultaneous selection of regressors and factors and estimation through the method of adaptive group Lasso (least absolute shrinkage and selection operator). We show that with probability approaching one, our method can correctly select all relevant regressors and factors and shrink the coefficients of irrelevant regressors and redundant factors to …

Welfare-To-Work Reform And Intergenerational Support: Grandmothers' Response To The 1996 Prwora, Ho, Christine

Research Collection School Of Economics

The 1996 Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA; Pub. L. 104-193) in the United States aimed at encouraging work among low-income mothers with children below age 18. In this study, the author used a sample of 2,843 intergenerational family observations from the Health and Retirement Study to estimate the effects of the reform on single grandmothers who are related to those mothers. The results suggest that the reform decreased time transfers but increased money transfers from grandmothers. The results are consistent with an intergenerational family support network where higher child care subsidies motivated the family to shift away …

Home Prices And Inequality: Singapore Versus Other Global Superstar Cities, Sock Yong Phang

Research Collection School Of Economics

The Global City concept originates from the work of sociologist Saskia Sassen, which dates back to the 1980s. In an age of globalisation, division of labour is international in scope and production activities are distributed across the world. A global city is a significant point where the internationally oriented financial and producer services that make the global economy run choose to agglomerate.

A Combined Approach To The Inference Of Conditional Factor Models, Yan Li, Liangjun Su, Yuewa Xu

Research Collection School Of Economics

This article develops a new methodology for estimating and testing conditional factor models in finance. We propose a two-stage procedure that naturally unifies the two existing approaches in the finance literature-the parametric approach and the nonparametric approach. Our combined approach possesses important advantages over both methods. Using our two-stage combined estimator, we derive new test statistics for investigating key hypotheses in the context of conditional factor models. Our tests can be performed on a single asset or jointly across multiple assets. We further propose a novel test to directly check whether the parametric model used in our first stage is …

Optimal Jackknife For Unit Root Models, Ye Chen, Jun Yu

Research Collection School Of Economics

A new jackknife method is introduced to remove the first order bias in unit root models. It is optimal in the sense that it minimizes the variance among all the jackknife estimators of the form considered in Phillips and Yu (2005) and Chambers and Kyriacou (2013) after the number of subsamples is selected. Simulations show that the new jackknife reduces the variance of that of Chambers and Kyriacou by about 10% for any selected number of subsamples without compromising bias reduction. The results continue to hold true in near unit root models. (C) 2014 Elsevier B.V. All rights reserved.

Inefficiency In The Shadow Of Unobservable Reservation Payoffs, Madhav S. Aney

Research Collection School Of Economics

This paper considers the problem of allocating an object between two players in an environment with one sided asymmetric information when their reservation payoffs depend on the type of the informed player, causing the reservation payoff of the uninformed player to be unobservable to her. Inefficiency arises naturally in this setting and can be characterized by a simple condition on the reservation payoffs that is necessary and sufficient. I derive the necessary and sufficient condition for the existence of an implementable allocation that at least weakly dominates the reservation payoffs. Under a mild assumption on the distribution of types, I …

China's Yuan: Asia's Future Anchor Currency?, Hwee Kwan Chow

Research Collection School Of Economics

The yuan is becoming more widely used in pricing and settling intra-regional trade and investment. Asian currencies' movements are likely to shift more in tandem with the yuan, leading to it becoming one of Asia's lead currencies. Singapore is now the world's second-most- important offshore yuan trading hub after Hong Kong.

Lag Length Selection For Unit Root Tests In The Presence Of Nonstationary Volatility, Giuseppe Cavaliere, Peter C. B. Phillips, Stephan Smeekes, A. M. Robert Taylor

Research Collection School Of Economics

A number of recent papers have focused on the problem of testing for a unit root in the case where the driving shocks may be unconditionally heteroskedastic. These papers have, however, taken the lag length in the unit root test regression to be a deterministic function of the sample size, rather than data-determined, the latter being standard empirical practice. We investigate the finite sample impact of unconditional heteroskedasticity on conventional data-dependent lag selection methods in augmented Dickey–Fuller type regressions and propose new lag selection criteria which allow for unconditional heteroskedasticity. Standard lag selection methods are shown to have a tendency …

Nonparametric Predictive Regression, Ioannis Kasparis, Elena Andreou, Peter C. B. Phillips

Research Collection School Of Economics

A unifying framework for inference is developed in predictive regressions where the predictor has unknown integration properties and may be stationary or nonstationary. Two easily implemented nonparametric F-tests are proposed. The limit distribution of these predictive tests is nuisance parameter free and holds for a wide range of predictors including stationary as well as non-stationary fractional and near unit root processes. Asymptotic theory and simulations show that the proposed tests are more powerful than existing parametric predictability tests when deviations from unity are large or the predictive regression is nonlinear. Empirical illustrations to monthly SP500 stock returns data are provided. …

The Right Perspective In Business Education, Paul Kim

Economics Papers and Presentations

The development of economic theories derived by mathematical exposition has been explosive in the past, but the interpretation of economic theories has remained extremely primitive for long time say for more than fifty years because, the assumption, which underlies the use of mathematics, has not been formerly scrutinized. Consequently, teachers of economic theories have misled their students in interpreting economic theories and business models. My concern in this paper is to put business education in the right perspective.

Thus, one of the purposes of this paper is to reintroduce a model[1], which I have developed previously, by which …

Corruption And Entrepreneurship: Evidence From A Random Audit Program, Jamie Bologna, Amanda Ross

Economics Faculty Working Papers Series

In this paper, we examine the effect of corruption on business activity in Brazilian municipalities. Previous research that has examined the impact of corruption has relied primarily on survey or conviction data, which may be problematic as these measures likely to be biased. We use a new measure of corruption that draws upon random audit data of municipal governments’ finances in Brazil. We find that higher levels of corruption cause reductions in the number of businesses operating in an area. Furthermore, we find that these effects become larger over time, suggesting that corruption is more detrimental to long-run economic activity. …

Migration Trends Shifted In 2014: Also Record Deaths And Continuing Low Fertility, Kenneth M. Johnson

Carsey Publications

In this fact sheet, author Ken Johnson reports on new Census Bureau data released on March 26, 2015. The data provide further evidence that the recession’s influence on domestic migration is diminishing. Migration patterns are reverting to those commonly seen before the recession. Suburban counties of large metropolitan areas are receiving more domestic migrants, while large metropolitan core counties are seeing more domestic migration losses. Domestic migration losses also continue in rural areas. There is no evidence in these new Census data of any recovery in fertility. Births remain near 15-year lows, and there were a record number of deaths …

Rural Land Rights And Security In Cultivated Highland Ethiopia: Incremental Reform But Persistent Uncertainty, Tesfaye Teklu

International Journal of African Development

There are important improvements in tenure stability and security of land rights over the years in administratively allocated land. These gains are due to the private efforts of individual landholders, and incremental policy and legal measures. However, there are still unmet demands for certainty in land rights because of inherent instability in tenure associated with rising excess demand pressure for land, temporal decay in value of use rights certificate, deficiency in design and practice of land expropriation and compensation laws, and weakness in land governance and rural of law.

Governance Of Land And Natural Resource For Sustainable Development In Botswana: Possible Lessons For The Agricultural And Tourism Sectors, David Sebudubudu, Patricia M. Makepe, Kgomotso Montsi, Keratilwe Bodilenyane

International Journal of African Development

Realizing sustainable development is a major challenge for most African countries. Economic growth in most African countries is largely centered on the extraction of natural resources, particularly minerals. Rather than facilitate development, the extraction of natural resources in most countries, has been a source of adverse outcomes. That is, natural resources led to ‘the resource curse’, partly because of bad governance and leadership. Through governance and leadership, Botswana emerged differently. The country transformed itself to a middle income status through the prudent utilization and management of mineral (non-renewable) resources; making Botswana one of the few resource rich countries that have …

Good Governance For Achieving Food Security In Ethiopia: Challenges And Issues, Mussie Ybabe, Sisay Asefa

International Journal of African Development

Although rice technologies have been introduced in Fogera district over the last two decades, farm household’s food demand was not met as expected. Sustained, intensified and coordinated rice research is the key to curb the problem but impaired due to lack of good governance coupled with weak institutional capacity. This has resulted snowballing effects like little or no discussion among/with farmers on good practices, successes/failures of technology adoption and input delivery; poor linkage of small farmers to market and knowledge gap in Development Agents. Therefore, this study identified and evaluated potential determinants of household food security with basic emphasis to …

The Impact Of Agriculture On African Civilization In The 21st Century, Andrew S. Targowski

International Journal of African Development

The purpose of this paper is to define the impact of agriculture on African Civilization in the 21^st century. The methodology is based on an interdisciplinary big-picture view of the African Civilizations. The multifaceted layers of civilizations will be analyzed as interdependent with the agricultural development of African societies. Among the findings are: Sub-Saharan Africa falls short of meeting its agricultural needs. Only one of two individual Africans has access to clean and enough water. Energy and supply of electricity are woefully inadequate and unreliable. Agriculture as a foundation for development and modernization for Africa is too limited. Environmental …

Governance And Private Investment In Sub-Saharan Africa, Idrissa Mohamed Ouedraogo, Pascal T. Kouman

International Journal of African Development

Africa is one of the world regions whose development potentials are particularly important. But despite this situation, Africa is one of the continents where poverty exists on a large scale. More than 44 % of the African population lives below the poverty line. Yet, various forms of development strategies have been designed and implemented in the African countries. In 1992, in its publication Governance and Development, the World Bank refers to the quality of government as the cause of the failure of several of these strategies. Attention is henceforth focused on how governments organize the management of state and …

Editorial Note, Sisay Asefa

International Journal of African Development

No abstract provided.

International Journal Of African Development, Vol. 2, Issue 1

International Journal of African Development

Complete issue of International Journal of African Development, Volume 2, Issue 1.

The Effect Of Terminating Enforcement Actions On The Nation's Problem Banks, Benjamin Doehr

Undergraduate Economic Review

This paper examines whether the Federal Deposit Insurance Corporation's supervisory actions promote improved performance at problem banks. I show that during the three-year period following the termination of a supervisory action, return on assets rises by 10 to 20 basis points. The reaction of capital markets to the termination results in a 1.7 basis point increase in return on assets, while management actions post-termination result in a 1.6 basis point decrease in return on assets.

Economic Analysis Of Flight Delay, Nathan D. Boettcher

Seaver College Research And Scholarly Achievement Symposium

Our project began as an investigation into the phenomenon of flight delay. We approached this problem with two goals in mind. First, we used mathematical statistics and econometric methods to develop a predictive model of flight delay. An improved forecasting process has obvious benefits for customers, and would additionally shed light on the factors which airports and airlines should seek to change in order to reduce flight delay. Our secondary goal was to complement this predictive research with a theoretical analysis of the incentive structure that consumers and producers face. We limited the scope of this model to delayed flights …

Minnesota’S Hot, Michael Hemesath

Administration Publications

No abstract provided.