Economics Commons^™

Indeks Komposit Pembangunan Infrastruktur Provinsi-Provinsi Di Indonesia, Royhan Faradis, Uswatun Nurul Afifah

Jurnal Ekonomi dan Pembangunan Indonesia

Infrastructure development is absolutely necessary to improve Indonesia’s economic growth which carries the principles of pro-poor, pro growth, and pro-jobs. However, the conditions of each region are different so that these objectives are always accompanied by inequality in development outcomes. This study maps areas that experience inequality into a composite index using factor analysis. This composite index was built based on the development of methods by the OECD. The results showed that Indeks Pembangunan Infrastruktur (IPI) was a valid measure. Seven provinces are categorized as inadequate located in Kalimantan and eastern Indonesia. The seven provinces have infrastructure and health and …

Pengaruh Kebijakan Penurunan Jalur Merah Terhadap Penerimaan Negara, Nurhidayati Nurhidayati, Pramudita Cahyani

Jurnal Ekonomi dan Pembangunan Indonesia

The decrease of customs clearance time is a form of reform and modernization of customs, through the policy of red line reduction. With a short customs clearance time, the velocity of goods in ports and airports become faster so as to support the smooth flow of national logistics. Smooth flow of goods will support the trade, which ultimately government revenue from import duties will be affected. This study aims to find the effect of the policy on the government revenue. The study used the data of 35 periods before and after the red line reduction policy was taken. The result …

An Assessment Of The Effectiveness Of Central Bank Sterilization On Capital Inflows In Nigeria, Tijjani M. Jume

CBN Journal of Applied Statistics (JAS)

This paper assesses the monetary policy response of the Central Bank of Nigeria (CBN) to increases in capital inflows into Nigeria using monthly time series data from January 2009 to December 2017. It presents an econometric assessment of the degree to which the CBN sterilizes net foreign assets (NFA) in response to the capital flows, using Autoregressive Distributed Lag (ARDL) Bounds testing approach. The long run sterilization coefficient obtained suggests that the CBN successfully offset 95per cent of capital inflows in the period of analysis. Against the background of rising financial instability in Nigeria, the study illustrates how sterilization has …

Decomposing Employment Growth In Selected Sub-Saharan African Countries: The Roles Of Structural Changes And Demographic Transition, Abidemi C. Adegboye, Clement A.U. Ighodaro

CBN Journal of Applied Statistics (JAS)

The challenge of employment growth in SSA countries goes beyond economic growth prospects to include structural and demographic dimensions. This study examines the relative contributions of structural changes and demographic factors to employment growth for a set of sub-Saharan Africa (SSA) countries using available annual data from 1970 to 2014. A decomposition approach is employed in the study using the Jobs Generation and Growth (JoGGs) method which generates results that show distributive components of employment, productivity and output changes over time in a system whereby the roles of economic structure and demographic changes could be observed. The study shows that …

Pass-Through Of Crude-Oil Price Shocks To Consumer Prices In Nigeria: Pre And Post 2008 Global Financial Crisis, Eric I. Otoakhia

CBN Journal of Applied Statistics (JAS)

This study investigates the responses of consumer price index (CPI) to crude oil price shocks in the pre- and post-2008 global financial crisis. The study used the Structural Vector Autoregressive model to analyze monthly data from 2000M01 to 2019M12. The impulse response analysis showed that for pre and post-crisis periods, oil price shocks have a positive impact on CPI. This impact was an insignificant direct momentary increase in pre-crisis CPI before dissipating. Conversely, the impact on post crisis CPI response tends to be stable and long-lasting starting from the third month. The confidence bands for the post crisis CPI are …

Asymmetric Impact Of Oil Price On Inflation In Nigeria, Sani Bawa, Ismaila S. Abdullahi, Danladi S. Tukur, Sani I. Barda, Yusuf J. Adams

CBN Journal of Applied Statistics (JAS)

This study examines the impact of oil price shocks on inflation in Nigeria. A Non-Linear Autoregressive Distributed Lag (NARDL) approach was applied on quarterly data spanning 1999Q1 to 2018Q4. Results showed that oil price increases led to increase in headline, core and food measures of inflation in Nigeria. However, a decline in oil price resulted in a decline in the marginal cost of production and culminated in moderation of domestic inflation. Furthermore, negative oil price shocks led to higher inflation in Nigeria when exchange rate is dropped from the models, indicating that exchange rate absorbed the impact of oil price …

Markov Regime-Switching Autoregressive Model Of Stock Market Returns In Nigeria, Oluwasegun A. Adejumo, Seno Albert, Omorogbe J. Asemota

CBN Journal of Applied Statistics (JAS)

This study is designed to model and forecast Nigeria’s stock market using the All Share Index (ASI) as a proxy. By employing the Markov regime-switching autoregressive (MS-AR) model with data from April 2005 to September 2019, the study analyzes the stock market volatility in three distinct regimes (accumulation or distribution – regime 1; big-move – regime 2; and excess or panic phases – regime 3) of the bull and bear periods. Six MS-AR candidate models are estimated and based on the minimum AIC value, MS(3)-AR(2) is returned as the optimal model among the six candidate models. The MS(3)-AR(2) analysis provides …

Impact Of Interest Rate Differential And Exchange Rate Movement On The Dynamics Of Nigeria’S International Private Capital Flows, Tari M. Karimo

CBN Journal of Applied Statistics (JAS)

The study examines the impact of interest rate differential and exchange rate movement on the dynamics of Nigeria’s international private capital flows from 2010Q1 to 2019Q4. It uses the interest rate parity theory and the Markov Switching Time Varying Transition Probability Modelling approach. Findings show that interest rate differential does not explain the dynamics of aggregate capital and Foreign Direct Investment (FDI) flows, but significantly explains Foreign Portfolio Investment (FPI) flows. Also, Movement in real exchange rate is significant in explaining outflows and inflows in FPI, and inflows in FDI, but neutral to aggregate capital flows. The study concludes that …

Currency Substitution And Exchange Rate Volatility In Nigeria: An Autoregressive Distributed Lag Approach, Isaiah O. Ajibola, Sylvanus U. Udoette, Rabia A. Muhammad, John O. Anigwe

CBN Journal of Applied Statistics (JAS)

This study investigates the relationship between exchange rate volatility and currency substitution in Nigeria, using Autoregressive Distributed Lag (ARDL) model. After accounting for the presence of structural breaks, evidence from the findings shows that domestic interest rate and expected changes in exchange rate are important determinants of currency substitution. In addition, there is empirical support for a positive relationship between exchange rate volatility and currency substitution both in the short- and long-run. This implies that higher real exchange rate volatility is associated with an increased level of currency substitution. In view of these findings, the paper calls for sustained efforts …

Fiscal Triumvirate: Analyses Of Crowding Out From Deficit Spending, Of Domestic Migration From State Taxes, And Of The Irrelevance Of Credit Ratings On Municipal Debt Yields, Erwin John Antoni Iii

Graduate Research Theses & Dissertations

The crowding out theory originally predicted substantially large effects from government activity in a market, including the impact of deficit spending on the price of loanable funds, namely, interest rates. Initial empirical testing in the twentieth century showed these effects to be quite small but consistent, while later testing suggested that the theory was wrong entirely and that a phenomenon of “crowding in” is observed during periods of large deficit spending by governments. This dissertation contributes to the existing literature by accounting for the supply side of the loanable funds market. Incorporation of a measure of global savings saves the …

The Effect Of Tax Policy On Firm Behavior And Executive Pay Components, Sheikh Touhidul Haque

Graduate Research Theses & Dissertations

The first chapter of this dissertation is motivated by the cross-sectional differences in the willingness of firms to minimize tax based on their financial structure. We investigate whether ”financially constrained” firms increase tax aggressiveness compared to it’s immediate ”less constrained” condition in response to an exogenous state tax increase. We also test whether our prediction holds true for financially distressed firms. Our identification strategy exploits 43 increases in corporate income tax rates staggered across 23 U.S. states and Washington, D.C., between 1989 and 2012. Our results reveal that constrained firms (as ranked by Kaplan & Zingales (1997) index (KZ index …

Do Shifts In Labor Shares In Productivity Growth Affect Poverty And Inequality? A Comparative Study Of Sub-Saharan Africa And Asia, Precious W. Allor

Masters Theses

This paper examines whether productivity growth induced by intersectoral labor movement affects inequality and poverty. To address this question a nonparametric shift-share decomposition technique is employed to decompose productivity growth into the structural change component; the component of productivity growth that is induced by the intersectoral labor movement, and the technological change component; the component of productivity growth that is induced by capital or improvements in productive efficiency. The paper then examines the long-run impact of structural change-induced productivity growth on poverty and inequality for a sample of 28 countries, and with a focus on Sub-saharan Africa and Asia. The …

Growth Convergence Across Countries And Regions In The Long Run: An Empirical Study Using Panel Analysis (1980-2018), Portia Mensah

Masters Theses

With the emergence of new superpowers, the changing landscape of the global economy, and the heterogeneity of growth experiences being discovered in recent times, the concept of growth convergence must be revisited. This study examines whether developing countries are catching up with the advanced countries in terms of their per capita income. The study uses a panel analysis of 69 countries over a period of 39 years spanning from 1980 to 2018 to test for growth convergence (both absolute and conditional) among countries based on the Augmented Solow model. The countries were further divided into three regions namely, Europe, Asia, …

Understanding And Measuring Net Positive Business Strategies, Luke Ruffner Robinson

Graduate Student Theses, Dissertations, & Professional Papers

Despite their attempts to mitigate ecological impacts through sustainability initiatives, businesses are a major cause of the world's ecological problems. Some progressive businesses are attempting to move beyond “net zero” in terms of achieving neutral environmental impacts and instead are now pursuing a goal of net positive. Net positive refers to the idea that business activities could contribute value-added benefits to earth’s ecological systems, for example, by using technologies that sequester and store carbon. However, except for a handful of high-profile corporate case studies, little is known about how companies are developing their strategies to become net positive and …

Childhood Snap Receipt As A Protective Factor Against Adult Obesity: Examining The Interaction Of Snap Participation And Neighborhood Disadvantage, Thomas Vartanian, Linda Houser

The Journal of Sociology & Social Welfare

Using the Panel Study of Income Dynamics (PSID) with family fixed-effects (FE) models, we explore how neighborhood conditions and time receiving SNAP benefits during childhood interact to relate to time spent obese in adulthood. Results suggest that, for those growing up in less advantaged neighborhoods, SNAP receipt between the ages of 9–13 and 14–18 was associated with subsequently shorter periods of time obese in adulthood. Conversely, for those growing up in more advantaged neighborhoods, SNAP receipt during these same late childhood/ adolescent time periods was associated with relatively high proportions of time in adulthood spent obese. SNAP participation during early …

Does Internet Access Create Or Destroy Social Capital? The Case Of West Java Province, Bayu Kharisma, Sutyastie Soemitro Remi

The Journal of Sociology & Social Welfare

Bonding social capital is within a group or community, whereas bridging social capital is between social groups, social class, race, religion, or other important sociodemographic or socioeconomic characteristics. This paper aims to investigate the determinants of household involvement and the effect of internet access on bridging and bonding social capital in West Java, Indonesia. The data used in this study were sourced from the results of a survey conducted by the Central Bureau of Statistics (BPS) of West Java Province in 2014, The National Socio-Economic Survey (Survei Sosial Ekonomi Nasional) on Socio-Cultural and Educational Module (Modul Sosial Budaya dan Pendidikan) …

Community Development Financial Institutions (Cdfis): An Analysis Within The Political And Economic Context Of Neoliberalism, Tracie Victoria Wynand

Cal Poly Humboldt theses and projects

This thesis explores Community Development Financial Institutions (CDFIs) business models by examining the organizational structures, procedural operations, services, and geography. It aims to understand its overall behavior as a financial institution providing low-income communities financial services and ultimately the role it plays within the neoliberal context. The research identifies that CDFIs ultimately hold a mission that promotes economic prosperity from within the neoliberal project by expanding free-market capitalist beliefs and practices when servicing low-income communities. Additionally, the findings suggest that CDFIs take on the role of the neoliberal state by operating in tandem with the Nonprofit Industrial Complex (NPIC), which …

Examining Barriers Impacting Women’S Promotion Into C-Suite Positions In Higher Education, Lynette Johnson Nelson

Walden Dissertations and Doctoral Studies

The United States Department of Labor indicated that women represent 46.8% and men represent 53.2% of the United States’ 16 years and older civilian labor force. An estimated 52% of adult women compared to 48% of men participating in the civilian labor force held a bachelor’s degree or higher, and women represented 47% of the management and professional sector’s positions. Women occupy 25% of C-suite positions in the Standard & Poor 500 companies. In higher education, 30% of college presidents are women. Women continue to face several barriers as they try to move into senior executive leadership positions. The specific …

Strategies Small Business Owners Use To Access Working Capital To Fund Operations, Michael Patrick Belleman

Walden Dissertations and Doctoral Studies

Many small business owners encounter a lack of access to traditional bank funding that limits the owner’s ability to meet working capital shortages to sustain operations. Grounded in the resource-based view, the purpose of this qualitative multiple case study was to explore strategies that small, home health care agency owners use to access working capital lending sources to finance their operations. The participants comprised 3 owners of small home health agencies in Wayne County, Macomb County, and St. Clair County, Michigan, who developed and implemented successful strategies to obtain working capital. Data were collected through semistructured interviews using open-ended questions, …

Financial Advisory Firms’ Strategies For Diversifying And Growing Clients’ Portfolio, Gerald Lee House

Walden Dissertations and Doctoral Studies

Abstract

Less than half of all U.S. households have some form of retirement assets. Advisors who fail to use alternative investment strategies may not accumulate enough retirement assets for their clients. Grounded in Markowitz's modern portfolio theory, the purpose of this qualitative multiple case study was to explore alternative investment strategies financial advisors use to enhance the growth and diversification of their clients' retirement assets. Data were collected from semistructured interviews and company documents from 4

financial advisors in Georgia and South Carolina who had successfully incorporated alternative investments in their clients' retirement portfolios. Thematic analysis was used to analyze …

Innovation-Driven Growth In Heavy Equipment Firms, Raynald J. Gallant

Walden Dissertations and Doctoral Studies

Lack of innovation-driven revenue growth can have adverse effects on organizational outcomes. Company leaders who do not pursue innovation put their firm's survival at risk. Grounded in Christensen's theory of disruptive innovation and Rogers's diffusion of innovation theory, the purpose of this quantitative correlational study was to examine the relationship between company culture, company maturity, company revenue, and innovation-driven revenue growth rate in global heavy equipment manufacturing firms. Secondary data (N = 50) were collected from the Yellow Table, an annual listing of the top 50 global heavy equipment companies by revenue from 2002 to 2018. The results of the …

Strategies Road Freight Transport Leaders Use To Increase Driver Retention, Johnny Mumphrey Jr.

Walden Dissertations and Doctoral Studies

The turnover of skilled over-the-road (OTR) truck drivers in the road freight transportation (RFT) industry results in significant yearly financial losses to organizations across the United States. Leaders in the industry continue to struggle to develop successful strategies for retaining these drivers. Grounded in the motivation hygiene theory, the purpose of this multiple case study was to explore strategies 5 transformational leaders from two RFT firms in North Texas used to improve OTR driver retention. Data collection included semi structured face-to-face interviews, a review of company webpages, and an assessment of company documents (e.g., employee handbooks, training manuals, and vision …

The Experience Of The Local Control Accountability Plan, Angela Carter Pascual

University of the Pacific Theses and Dissertations

In 2013 the California Legislation passed a new K-12 School accountability mandate.

The Local Control Accountability Plan was sought to increase the educational equity for targeted student groups in addition to allowing school districts to mine a diverse set of local school data to develop goals in the 8 priority areas that speak to the needs of their local students. A requirement of the LCAP was that school districts include a diverse set of stakeholders to work in a collaborative manner to develop, critique, and refine local goals. Stakeholder groups are required to consist of district-level administrators, teachers, staff, students, …

Contractual Arbitrage, Stephen J. Choi, G. Mitu Gulati, Robert E. Scott

Faculty Scholarship

Standard-form contracts are likely to be incomplete because they are not tailored to the needs of particular deals. In an attempt to reduce incompleteness, standard-form contracts often contain clauses with vague or ambiguous terms. Terms with indeterminate meaning present opportunities for strategic behavior well after a contract has been executed. This linguistic uncertainty in standard-form commercial contracts creates an opportunity for “contractual arbitrage”: parties may argue ex post that the uncertainties in expression mean something that the contracting parties did not contemplate ex ante. This chapter argues that the scope for contractual arbitrage is a direct function of the techniques …

Simon Nelson Patten, Roger A. Lohmann

Faculty & Staff Scholarship

A brief biographical article on Simon Patten, the German-trained social economist who coined the term social work and continued to make contributions to social work and social welfare throughout his career.

Economic Activity, International Intervention, And Transitional Governance: A Comparative Case Study Of Somalia, Daniel Bonneau, Joshua C. Hall

Economics Faculty Working Papers Series

This paper investigates the impact of international state-building efforts in Somalia on economic development. We use satellite data on night lights to measure economic activity to deal with nonexistent or poor-quality national income accounts. Using the synthetic control method, we find that the establishment of the Transitional Federal Government in 2004 was associated with economic stagnation relative to the years under statelessness. Using nighttime light emissions, we find economic stagnation regardless of whether we use the total lights emitted from the country or the spread of lights across the country. Our empirical findings are consistent with the idea that the …

The Effect Of Transparency, Independence And Accountability Of Central Banks On Disinflation Costs, Golnaz B. Motie, Joshua C. Hall

Economics Faculty Working Papers Series

Policymakers often want to achieve low inflation to avoid the low economic growth associated with high inflation. Reducing inflation through monetary policy (disinflation) is not costless as it can coincide with higher unemployment rates and reduced output. In this paper we use sacrifice ratios to calculate the cost of disinflation during the 1990s for 40 countries. We then study whether transparency and democratic accountability of monetary institutions reduces disinflation costs. Our empirical results suggest that more transparent central banks seem to face higher disinflation costs. This result could be because more transparent central banks have lower initial inflation rates during …

This Is ``What's In Your Wallet'' ... And Here's How You Use It, Tamás Briglevics, Scott Schuh

Economics Faculty Working Papers Series

Consumer wallets have more means of payment yet cash still is used most. We develop a dynamic structural model blending cash inventory management and payment instrument choice. For each expenditure, consumers endogenously pay with cash, debit card, or credit card with an option to withdraw cash beforehand. The model is estimated with transaction- level data from a daily consumer payment diary and reveals that utility from payment services exceed cash management costs. For payment card owners, optimal cash holdings are about $50 and jointly determined with the share of cash payments. Eliminating either cash or payment cards reduces consumer welfare …

Localization Economies And Firm Productivity: Evidence From Football Teams In Sao Paulo, Brazil, Brad Humphreys, Amir B. Neto

Economics Faculty Working Papers Series

Agglomeration economies affect urban economic outcomes. We analyze variation in sports team productivity and localization of teams across divisions and cities in Campeonato Paulista an annual football competition in São Paulo state, Brazil, exploiting plausibly exogenous variation in localization generated by a promotion and relegation system in this league. Results show that both urbanization, proxied by population, and localization affects short and long run team productivity. These results provide new evidence on the importance of localization economies in the urban economy in developing countries and shed light on why sports teams in larger cities enjoy more success than those in …

A Test Of The Generalized Yunus Equation And Its Implications For Microcredit In The Philippines, Jasmin-Mae Santos Luy

DLSU Business & Economics Review

Microcredit is one of the most important financial services offered by microfinance institutions (MFIs) in the Philippines. Loan repayment by frequent installments faces the challenge of possible random delays, which leads to random interest rates. Such randomness affects both microlenders and borrowers. This research utilizes a mathematical model called the generalized Yunus equation (GYE) to study the microloan repayment process in the Philippine setting. Using this model, an explicit formula was formulated expressing the effective interest rate involved in repayment as a function of the time when the delay takes place, which closely approximates the actual values of the rate …