Economics Commons^™

What Type Of Central Banker Dampens The Political Business Cycle? The Case Of Africa, Christine Strong

Economics Faculty Publications

This article investigates the extent to which central bank independence can help to reduce political business cycles in Africa. Like previous studies, we find evidence of political cycles in our sample of 34 African countries for the period 1980–2018, but our findings show that politicians' ability to manipulate both fiscal and monetary policy depends on the degree of alliance between the fiscal authority and the monetary authority. Indeed, our analysis reveals that the political business cycle worsens when the central banker is an ally whereas a non‐ally central banker is associated with a decrease in the ability of the incumbent …

Part 1: Virginia's Economy Grows, But Questions Linger About The Future, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

There is good news to report about the economy of the Commonwealth. Economic activity increased in 2022 and 2023. A record number of Virginians were at work or looking for work. Labor force participation increased above pre-pandemic levels. However, this news is tempered by the fact that Virginia grew slower than the nation and Virginians continue to migrate out of the Commonwealth. The Virginia economy should grow in 2024, but work remains to be done to match the economic performance of our peers.

Part 3: Virginia Is For Veterans, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Approximately 1 in 10 Virginian adults ages 18 years and older was a veteran of military service in 2021. The Commonwealth only ranked behind Alaska in the proportion of adults who identified as a veteran of military service in 2021. Virginia ranked first for the share of veterans in the adult population among states with populations greater than 1 million in 2021. Military veterans in Virginia, on average, are more educated than their civilian counterparts and have higher household incomes. The presence of military veterans and retirees not only provides talents to employers, but also generates billions of dollars of …

Part 4: Death And Dying In Virginia, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Death and taxes may be inevitable, but where we die is usually not a topic of public policy or discussion. Hospice care is the specialized treatment that provides support and comfort to patients who are terminally ill with a general life expectancy of six months or less. In this chapter, we take a close look at serious disease and hospice care in the United States and Virginia. We examine the demand for hospice care by Medicare beneficiaries as well as the changing nature of hospice care suppliers as now more than two-thirds of hospices nationwide operate as for-profit entities. We …

2023 State Of The Commonwealth Report, Vinod Agarwal, Aliou Ousmane Ba, Barbara Blake, James V. Koch, Ria Kolarao, Feng Lian, Anna Makhorkina, Melody Nguyen, Terry Parker, Mohamed Rahoui, Panagiotis Taoulas, Robert D. Mcnab

State of the Commonwealth Reports

This is Old Dominion University's ninth annual State of the Commonwealth 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, its president, Brian Hemphill, Ph.D., the board of Visitors, the Strome College of Business or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

Our work seeks to contribute to the conversation about how Virginia can foster growth across the Commonwealth without glossing over the challenges we face. Instead of retreating into partisan enclaves where …

Quisqueya In Borinquen: A Socioeconomic Profile Of The Dominican Population In Puerto Rico, 2023, Ramona Hernandez, Francisca L. Rivera-Batiz, Sidie S. Sisay

Publications and Research

This research report provides a comprehensive analysis of the current socioeconomic status of the Dominican population in Puerto Rico, examining changes over time using data from the U.S. Census for Puerto Rico and the Puerto Rico Community Survey.

Identifying Always-The-Same-Rating Reviewers On Amazon.Com Using Big Data Analytics, Jikhan Jeong

Economics Faculty Research & Creative Works

This study identifies "always-the-same-rating" reviewers (ASRs), that is, reviewers who give the same star rating for all reviewed products and who write many reviews on Amazon. This study identifies ASRs in 29 product categories by analyzing 230 million individual reviews on Amazon. The findings of this study show that: 1) all product categories contain reviews written by ASRs; 2) the majority of ASRs (99.99%) give the same star rating for all reviewed products in all categories; and 3) the rating distribution of ASRs' reviews is extremely skewed toward the five-star rating (98.02%). The digital music category, in particular, shows a …

Are Debt-Holders Effective Monitoring Agents In Strategic Alliance Formations?, Malika Chaudhuri, Jay J. Janney

International Review of Business and Economics

When undertaking strategic alliances, managers face a fundamental choice to pursue alliances that allow them to exploit the value of current firm assets or alliances that allow them to explore new trajectories for the firm. To answer this question, we tested our proposed theoretical framework using 652 US-based publicly traded pharmaceutical firms between 1990 and 2012. Findings suggest that exploitation alliances have higher impact on firm performance in the short and long run than exploration alliances. Consistent with the debt overhang problem presented by Myers (1977), our findings confirm that high-leverage firms have a higher inclination toward exploitation alliance formations …

Part 1: Growth Returns, Now Make It Last, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

There is some good news to report. Hampton Roads gained population but population growth continues to slow. A record number of residents were at work or looking for work in 2023. A record number of residents of the region reported they were employed in 2023. The number of jobs continued to recovery from the depths of the 2020 economic shock, however, a full recovery may not occur until 2024. Economic growth sharply rebounded from the declines of 2020, and we expect growth to continue in 2023. The region’s economic performance, however, continues to lag many of its peers.

Front Matter: The State Of The Region, Hampton Roads 2023, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Cover, Front Matter, Table of Contents, Sponsors, and other materials for the 2023 The State of the Region Report authored by the Center for Economic Analysis and Policy at Old Dominion University.

The State Of The Region: Hampton Roads 2023, Dragas Center For Economic Analysis And Policy, Old Dominion University, Vinod Agarwal, Aliou Ousmane Ba, Barbara Blake, Elizabeth Janik, Nikki Johnson, James V. Koch, Feng Lian, Terry Parker, Matt Voegel

State of the Region Reports: Hampton Roads

This is Old Dominion University’s 24th 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, its president, Brian Hemphill, Ph.D., the Board of Visitors, the Strome College of Business or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

Over the past year, we have experienced rising interest rates, persistent inflation, and the continued impact of geopolitical shocks on our daily lives. We live, for better or worse, in interesting …

Part 7: The Virginia Museum Of Contemporary Art: Challenges, Opportunities, And Economic Impact, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Museums are a part of the cultural life of a region and a component of the regional economy. The Virginia Museum of Contemporary Art in Virginia Beach is one such museum. The Virginia Museum of Contemporary Art (Virginia MOCA for short) is a cultural jewel that continues to provide the region with remarkable artistic resources and programming. In this chapter, we explore how museums can contribute to economic activity and explore the economic impact of the Virginia Museum of Contemporary Art.

Part 6: Should Taxpayers Subsidize Private Facilities In Hampton Roads? Glitz Vs. Reality, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Hampton Roads can learn from the experience of other cities and states. If there is a strong business case for a sports stadium, sports park, or entertainment venue, then investors should be able to tap into financial markets. In this chapter, we examine the arguments surrounding public investments in highly visible facilities. We pose questions that should be asked when considering such investments and explore the potential opportunity costs of these projects. We offer a cautionary tale that such projects are sold as transformative but often fail to generate the promised benefits, not only for taxpayers but also for the …

Part 4: Get On The Bus: Public Transportation In Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

In many countries, public transportation is a cornerstone of urban life. In Hampton Roads, public transportation is in a moment of transition, sparked by technological change, pandemic disruptions, a growing emphasis on social equity, and a longer term loss of riders. In this chapter, we discuss who provides public transportation in Hampton Roads. We explore the economics of public transportation and ask what the future holds for public transportation in the region

Part 3: The Fourth Pillar: Veterans In Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

In 2021, more than 1 in 10 residents of Hampton Roads identified themselves as a veteran of military service. Among these veterans, almost 1 in 3 were military retirees. With thousands of active-duty service members separating from service in Hampton Roads every year, we ask what is the impact of these veterans on the regional economy. We find that working-age veterans in Hampton Roads are more likely to participate in the labor force than their non-veteran counterparts and that the presence of veterans brings billions of dollars into the region.

Part 5: Death And Dying In Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Death and taxes may be inevitable, but where we die is usually not a topic of public policy or discussion. Hospice care is the specialized treatment that provides support and comfort to patients who are terminally ill with a general life expectancy of six months or less. In this chapter, we take a close look at serious disease and hospice care in the United States and Virginia. We examine the demand for hospice care by Medicare beneficiaries as well as the changing nature of hospice care suppliers as now more than two-thirds of hospices nationwide operate as for-profit entities.

Part 2: The Pillars Of The Hampton Roads Economy Remain Strong, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Hampton Roads is a region rich with assets – a talented and diverse labor force, a distinctive role in the national security of the nation, a deep-water port that continues to set records, and beaches and amenities that attract visitors from near and far. The region’s economic performance is closely aligned with these assets. Defense spending, the Port of Virginia, and the hospitality and tourism industry are often referred to as the “Three Pillars” of the Hampton Roads economy – pillars that have continued to perform well in the aftermath of the economic shock of 2020. In this chapter, we …

Breaking Down Barriers: The Impact Of Segregation On Social Capital And Economic Outcomes, Donyetta A. Bennett

Electronic Theses and Dissertations

Breaking Down Barriers. Does social capital indirectly affect black/white economic outcomes via entrepreneurial activities? Does the relationship between social capital, entrepreneurship, and black/white economic outcomes change when social capital interacts with segregation? Drawing from Bourdieu's (1986) and Coleman’s (1990) social capital theory and prior scholars' regressive view theories of segregation, I propose that 1) social capital improves entrepreneurial activities and black/white economic outcomes, and 2) segregation’s interaction with social capital has an adverse effect on entrepreneurial activities and black/white economic outcomes. To perform the analysis, data were collected at the county- level from multiple sources and aggregated into one file …

How Nonmarket Externalities Affect The U.S. Business Dynamism: An Economic Approach To Drug Epidemic, Chukwudi Ikwueze

Pennsylvania Economic Review

Businesses thrive best in an environment devoid of constraints, including those resulting from third-party activities with longstanding economic underpinnings. While existing research has extensively explored how costs and benefits emanating from businesses affect third parties, in the form of market externality, little attention has been given to understanding how costs and benefits arising from third-party activities influence businesses. To fill this gap, this paper aims to introduce the concept of nonmarket externality, which represents the influence of third-party activities on businesses, and use it to examine whether third-party activities associated with the drug epidemic influence the U.S. business dynamism. The …

The Impact Of Household Debt On Labor Market Recovery During The Covid-19 Pandemic, Weinan Yan

Pennsylvania Economic Review

The global economic downturn caused by the Covid-19 pandemic in 2020 resulted in an increase in unemployment rates and widespread job losses. To address this issue, many countries implemented expansionary monetary and fiscal policies to stimulate their economies and support the labor market. As a result, unemployment rates began to decline in the third quarter of 2020. However, by the fourth quarter of 2021, some countries had achieved pre-pandemic levels of unemployment, while others had not. Therefore, it is essential to understand the factors that influence a country's labor market recovery during the pandemic. This study addresses a crucial but …

From Macro To Micro: A Study Of The Impact Of Stock Market Development And Behavioral Factors On Charitable Donations During The Covid-19 Pandemic., Sahar Alqunaibit

CGU Theses & Dissertations

Chapter 1: The Impact of Stock Market Development on Economic Growth in Saudi ArabiaThis study investigates the relationship between stock market development and economic growth in Saudi Arabia within the context of the country's Vision 2030 initiative aimed at economic diversification and reducing oil dependency. Bridging a research gap, the study employs the Market Development Index developed by the International Monetary Fund (IMF) to analyze the link between market sector development and economic growth. Three critical indicators from the IMF - Financial Markets Access Index, Financial Markets Depth Index, and Financial Markets Efficiency Index - are utilized to measure financial …

The Green Revolution In California: The Real Costs And Benefits Of Changing Electricity Production, Joseph James Hoffman

CGU Theses & Dissertations

In recent years democratic societies have added concern for the environment to the perennial problems of inequality, economic growth, and law and order. What is often called the Green Revolution has focused on the effect of industrial growth on the health of the individuals living in that society and on the effects on climate. In the United States, the State that was the first to see this problem and the first to make changes to deal with it, was California, where geographical factors ensured that the effects of industrial change on the air were much more severe than anywhere else …

The Evolution Of Efficiency In The Chinese Stock Market, Qiyun Li

CGU Theses & Dissertations

This dissertation examines the weak-form efficiency of the Chinese stock market and provides evidence on how the market efficiency evolved throughout the last three decades. The Shanghai Composite Index (SSEC) and the Shenzhen Component Index (SZSE) are the primary indicators of the Chinese stock market in this study. Both traditional economics and the complex systems’ methods are employed to evaluate market efficiency, with an additional focus on the effect of two parameter inputs (embedded dimension and noise filter) on entropy methods to improve their ability to detect phase transitions in stock market data. The traditional efficiency tests indicate that the …

An Empirical Study: Evaluating The Impact Of Economic, Human Resource, And Governance Factors To Foreign Direct Investment, Yuan-Yuan Lee

CGU Theses & Dissertations

The economic crisis in 2008 prompted the restructuring of the world economic and trade patterns. The global supply chain began to restructure, and international investment presented more diversified features. The COVID-19 Pandemic brings a new global economic crisis. which is likely to negatively impact many businesses that rely heavily on the Chinese market. Quarantine policies have forced people to stay at home, reducing public connectivity and leading to a slowdown in economic growth. The outbreak has also caused companies and factories to pause operations, affecting trade, travel, and consumption. International investors are increasingly concerned about economic uncertainties, which highlights the …

The Impact Of Development Aid On Human Development, Lauren Candia Shaffer

CGU Theses & Dissertations

This dissertation examines the relationship between development aid and human development in recipient countries. The primary function of this research is to determine which types of aid are most effective in improving human development. To accomplish this goal, I use a fixed effects regression analysis to examine the following aid types in individual chapters of the dissertation: Total Aid, Donor-specific aid, Sectoral Aid, Conditional Aid, and aid flowing from Multilateral, Bilateral, and Private sources. This analysis produced mixed results, indicating that some types of aid have a positive and significant impact on human development, some have a negative and significant …

Opportunity Cost Of Student Loan Debt Forgiveness: Testing The Impact Of Four Policy Options On United States’ Economy, Emelia Akhlaghi

CGU Theses & Dissertations

Nearly 45 million Americans are trapped in a student loan debt. In total they owe more than $1.75 trillion. Research shows that such a high amount of debt harms the U.S. economy in several ways, preventing anything from small business development to new house purchases, and even weddings and procreation. It is an issue that stakeholders have tried to address by offering different relief measures ranging from re-financing to debt cancellation. Debt cancellation has remained high on the agenda of the Democrat political leadership. This is the reason that student loan debt cancellation was on the agenda of each democrat …

Optimal Portfolio Construction For Oil-Based Sovereign Wealth Funds, Mohammed Saeed Alshowaikhat

CGU Theses & Dissertations

Chapter 1 of this dissertation delves into the economic challenges faced by oil-exporting countries that rely heavily on a single income source, with a particular focus on Saudi Arabia as a case study. The primary objective is to examine the efforts of Saudi Arabia's sovereign wealth fund in diversifying revenue streams and mitigating risks associated with an excessive dependence on oil. To achieve this, the study proposes an adaptation of the subset-optimization algorithm within the mean-variance model, aiming to enhance portfolio construction in sovereign wealth funds. Chapter 2 of the dissertation conducts a comparative analysis between portfolios constructed using the …

The Effect Of Bureaucracy On The Inflow Of Foreign Direct Investment: A Comparative Study Of Libya And The United Arab Emirates, Abdurraouf Abdussalam Elakder

CGU Theses & Dissertations

Attracting foreign direct investment (FDI) is a determinant factor for developing national economies, and Libya is no exception. However, the bureaucracy in Libya still needs to be improved to help attract foreign direct investment. Therefore, this comparative case study seeks to analyze the effects of bureaucracy on attracting FDI to Libya and the United Arab Emirates, highlighting the bureaucratic barriers embodied mainly in bureaucratic expansion, bureaucratic corruption, and the obstacles of the FDI laws. I argue in favor of eliminating those bureaucratic barriers and improving bureaucratic quality, enhancing the chances of attracting and keeping FDI. The study's standpoint is that …

Parenting: An Economic Analysis, Benjamin J. Smith

CGU Theses & Dissertations

Policies like universal preschool and The American Families Plan have brought attention to the need to invest in child development. Research has shown that such investments, when evaluated over the long run, provide large rates of return not just to families but to society. However, the effect of policies directed at children ultimately depends on the way parents respond to these policies. Therefore, in order to design policies effectively, the complex nature of parenting must be considered. In this dissertation, I analyze the impact of parental behavior and traits on child outcomes as well as the influences of specific parental …

Three Essays In Behavioral Economics, Zhou Fang

CGU Theses & Dissertations

Well-being is important because it directly impacts an individual's quality of life and overall happiness. It encompasses physical, mental, and social aspects, promoting a balanced and fulfilling existence. Optimal well-being leads to improved productivity, resilience, and positive contributions to society, creating a healthier and more harmonious world.

This dissertation delves into the realm of interdisciplinary research, bridging economics and psychology, to investigate several critical areas that affect peoples’ wellbeing. It explores gender discrimination within peer review processes, seeks advancements in the measurement of subjective well-being, and analyzes the influence of cultural factors on prosocial behaviors.

The first chapter delves into …