Economics Commons^™

The Changing Nature Of International Trade And Its Implications For Development, Pinelopi Goldberg, Michele Ruta

Discussion Papers

This paper revisits the relationship between international trade, trade policy, and development in light of the structural, policy, and geopolitical shifts that have transformed globalization over the past decade. While trade has historically supported development through both static and dynamic channels, we argue that the latter—those inducing structural transformation and institutional change—have been far more consequential for long-run development. Through access to global markets, participation in global value chains, and knowledge and technology transfers, and by providing an anchor for reform, trade and trade agreements have contributed to productivity gains, technological progress, quality and skill upgrading, and institutional change in …

The Changing Nature Of International Trade And Its Implications For Development, Pinelopi Goldberg, Michele Ruta

Cowles Foundation Discussion Papers

This chapter revisits the relationship between international trade, trade policy, and development in light of the structural, policy, and geopolitical shifts that have transformed globalization over the past decade. While trade has historically supported development through both static and dynamic channels, we argue that the latter—those inducing structural transformation and institutional change—have been far more consequential for long-run development. Through access to global markets, participation in global value chains, and knowledge and technology transfers, and by providing an anchor for reform, trade and trade agreements have contributed to productivity gains, technological progress, quality and skill upgrading, and institutional change in …

Large-Scale Curve Time Series With Common Stochastic Trends, Degui Li, Yuning Li, Peter C. B. Phillips

Cowles Foundation Discussion Papers

This paper studies high-dimensional curve time series with common stochastic trends. A dual functional factor model structure is adopted with a high-dimensional factor model for the observed curve time series and a low-dimensional factor model for the latent curves with common trends. A functional PCA technique is applied to estimate the common stochastic trends and functional factor loadings. Under some regularity conditions we derive the mean square convergence and limit distribution theory for the developed estimates, allowing the dimension and sample size to jointly diverge to infinity. We propose an easy-to-implement criterion to consistently select the number of common stochastic …

Pentingkah Pekerjaan Ibu Dalam Literasi Anak Di Indonesia?, Dien Amalina Nur Asrofi, Muhammad Salahudin Al Ayyubi

Jurnal Ekonomi Kependudukan dan Keluarga

This study aims to analyze the impact of maternal employment status and job type on children's literacy skills in Indonesia, using data from the 2023 National Socioeconomic Survey (SUSENAS) and a binary logistic regression approach. The results show that working mothers, particularly those in the formal sector, are positively and significantly correlated with children's literacy, especially in non-poor households. These findings highlight the important role of maternal employment contribution in strengthening educational investment within families. In contrast, among poor households, formal employment of mothers does not significantly influence children's literacy, indicating that economic constraints remain a major barrier. In addition, …

Comparative Evaluation Of Estimation Techniques For Purchasing Power Parity In African Countries Using The Country-Product-Dummy Regression Framework, Rokibat Adeola Tijani, Taiwo Abideen Lasisi, Dahud Kehinde Shangodoyin, Olasunkanmi James Oladapo

Al-Bahir

Purchasing Power Parity (PPP) is a popular macroeconomic analysis metric used to compare economic productivity and standards of living between countries. This study examines the estimation of PPP within the International Comparison Program (ICP) at Basic Heading (BH) level stage and leverages on the data from the 2011 ICP round. Focusing on five BHs out of 12 BHs across 50 Africa countries, to empirically evaluate the validity of the classical Ordinary Least Square (OLS) assumptions in the estimation of Country Product Dummy (CPD) regressions. Given the widespread use of OLS for BH level PPP computation, a rigorous examination of these …

Ltv Trento, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• A paper by Shaikh titled Eigenvalue QQplots US China discussing the distribution of eigenvalues of US and Chinese matrices (2010, September 27)

• A chapter by Luigi L. Pasinetti titled Normalised General Coordinates and Vertically Integrated Sectors in a Simple Case from Nonlinear and Multisectoral Macrodynamics: Essays in Honour of Richard Goodwin edited by Kumaraswamy Velupillai (1990)

• The first page of a chapter by Terenzio Cozzi titled A Comparison Between Goodwin's Normalised General Coordinates and Pasinetti's Vertical Integration Methods from the same volume

• An email exchange between Shaikh and Syed Ali Asjad Naqvi regarding the logic of a …

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Loose Notes From Box 20, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Handwritten notes titled Proceeds & Profit a la Sraffa discussing balance sheets, profit, and simple reproduction (1983, October 7)

• Pages 148–149 from an unidentified publication on investment including a table on estimated returns on investment for 38 US corporations

• An annotated first draft of a paper by Jack Glen, Ajit Singh, and Rudolph Matthias titled How Competitive are the Emerging Markets? An Analysis of Corporate Rates of Return from Nine Emerging Markets, prepared for an IMF Research Department Seminar (1998, July 21)

• An annotated paper by Michel-Stéphane Dupertuis and Ajit Sinha titled A Sraffian Critique of …

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Real Competition 1, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• A typed outline by Shaikh titled Competition within industries and between industries (2001, October 31)

• Handwritten notes on Gokhan Capoglu's Prices, Profits, and Financial Structures: A Post-Keynesian Approach to Competition (1991)

• A typed paper titled Incremental ROP and the Markup (2007, February 20)

• Tsoulfidis, L., & Tsaliki, P. (2005). Marxian theory of competition and the concept of regulating capital: Evidence from Greek manufacturing. Review of Radical Political Economics, 37(1), 5–22

• Typed and annotated notes titled Profit Rate Equalization Theory and Evidence summarizing various frameworks including Bain, Brozen, and Mueller (2008, April 17)

• A handwritten to-do …

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Graphs And Notes On Interest Rate And Profits, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• A graph titled Real Interest Rates, US and Trading Partners (1961–2005) from a file named International Real Interest Rate Arbitrage.xlsx

• A graph showing deviations in real interest rates for the US and trading partners (1961–2005) from a file named International Real Interest Rate Arbitrage.xlsx

• A graph of the average IROP for various industries without exclusions (1988–2005) from a file named IROPNov12073.xls

• Handwritten notes with equations for incorrect and correct IROP calculations

• A collection of charts from a file named IROP_Dec28excl1 including line graphs of the average of r, IROP, and rinvest; bar charts of period average rates …

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Trade And Globalisation, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• A typed document titled Profit Rates and Growth Rates discussing the Hicksian adjustment principle (2010, September 24)

• Handwritten notes titled Marx's S.R. Theory Int Rates (2009, May 8)

• Handwritten notes titled Revised Banking Sector Equations (2005, July 20)

• Handwritten notes on the form of equalization, risk premia, and dual dynamics (2008, January 14)

• A graph showing rates of profit for US industries from 1987–2005

• A graph showing average rates of profit for world manufacturing industries from 1970–1990

• A graph showing incremental rates of profit for US industries from 1988–2005 (2010, August 5)

• Pages from a chapter by …

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Distance Measures Of Pv Deviations, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Handwritten notes titled Distance Measures (2012, April 20)

• A spreadsheet printout by Shaikh from Ch10data.xlsx on scaling, with handwritten annotations (2012, June 30)

• Handwritten notes titled Spurious Correlation Argument (2018, January 8)

• Handwritten notes titled Price-Value Deviators EEA

• A spreadsheet printout from Ch10data.xlsx on deviation measures (2012, July 9)

• A paper by Nils Fröhlich titled Dimensional Analysis of Price-Value Deviations, with handwritten annotations (2011, February 22)

• A paper by Theodore Mariolis titled On Constructing Numeraire-Free Measures of Price-Value Deviation: A Note on the Steedman-Tomkins Distance, with handwritten annotations

• A printout from a Mathcad file titled …

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Nssr Ltv Pol Econ, Loose Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD. (1979, August). Numerical analysis: Notes on matrix-vector geometry, norms, inner products, and eigenvalues [Handwritten manuscript].

• Shaikh, A., PhD. (1997, December 18). Assessing profit rate equalization: Notes on the Zacharias dissertation and Mueller's model [Handwritten manuscript].

• Shaikh, A., PhD. (n.d.). Critique of argument concerning agriculture in Argentina [Handwritten manuscript].

• Shaikh, A., PhD. (1979, October 1). Outline for UCR II on production, reproduction, and exchange [Handwritten manuscript].

• Shaikh, A., PhD. (1983, October 8). Abstract labor, value, and labor power [Handwritten manuscript].

• Shaikh, A., PhD. (n.d.). Real abstraction: Notes on socially necessary labor-time [Handwritten manuscript].

• Shaikh, A., …

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A Critique Of The Keynesian Theory Of The Role Of The State, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD. (n.d.). A critique of the Keynesian theory of the role of the state [Manuscript].

Notes On Lectures At New School And Cornell, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD. (n.d.). Capital as a social relation: Notes & outline [Typed manuscript].

• Shaikh, A., PhD. (n.d.). Capital as a social relation [Handwritten notes].

• Shaikh, A., PhD. (1976, October 14). Lecture transcript for Eco 204: Advanced political economy [Lecture transcript].

• Shaikh, A., PhD. (1980, October). Third lecture at Cornell University [Lecture transcript].

• Shaikh, A., PhD. (1983, December 26). Points [Handwritten notes].

Aglietta And Wage Squeeze Theories, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD. (1982, November 29). Notes on David Gordon, Samuel Bowles, and Thomas Weisskopf's work on the long roller coaster [Handwritten notes].

• Shaikh, A., PhD. (1982, December 10). Notes on profit rate, technical change, real wages, and unproductive activities [Handwritten notes].

• Shaikh, A., PhD. (1988, April 30). Profit squeeze theories: Notes on Aglietta and BGW [Handwritten notes].

• Kazanas, K. (1988, March 10). Summary of BGW's social model for aggregate productivity in “Hearts and minds” [Manuscript].

• Shaikh, A., PhD. (1982, October 30). A note on the productivity slowdown [Handwritten notes].

• Shaikh, A., PhD. (1982, November 8). Productivity, …

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Newspaper Clippings On The Current Crisis, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Schurmann, F. (1990, November 21). Long-term cycle theory suggests looming depression. Newspaper clipping. Manuscript in possession of Anwar Shaikh, PhD.

• Lever, H. (1982, September 24). International banking's house of cards. The New York Times. Manuscript in possession of Anwar Shaikh, PhD.

• The New York Times. (1982, March 31). Business failures spreading. Manuscript in possession of Anwar Shaikh, PhD.

• Petzinger, T. Jr. (1982, May 24). Bankruptcy wave: Business failures hit post-depression high; tide expected to swell. The Wall Street Journal. Manuscript in possession of Anwar Shaikh, PhD.

• The New York Times. (1983, July …

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Ral (Eco 205), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2001, February 5). Ex ante and ex post stock-flow accounts [Unpublished class paper, Economics 205new].

• Agénor, P.-R., & Montiel, P. J. (1996). Development macroeconomics. Princeton University Press. [Includes excerpt with figure on real wages and unemployment in developing countries].

• International Labour Organization. (2001, January 24). ILO's World employment report 2001: Despite improved employment outlook, digital divide looms large [Press release].

• Mongiovi, G. (2002, January 18). Letter providing contact information for Gregory P. Nowell [Manuscript letter].

• Mongiovi, G. (n.d.). Compliments slip [Ephemera].

• Blanchard, O. (1997). Macroeconomics. Prentice Hall. [Includes excerpts from chapters 15, 17, …

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Labor Market And Unemployment, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Pigeon, M.-A., & Wray, L. R. (1999). Down and out in the United States: An inside look at the out of the labor force population (Public Policy Brief No. 54). The Jerome Levy Economics Institute of Bard College.

• Galbraith, J. K. (2004, July–August). Fed ache [Review of the book A term at the Fed: An insider's view, by L. H. Meyer]. The Washington Monthly, 36(7–8), 45–47.

• Review of Political Economy. (2001, October). Table of contents, 13(4). Routledge.

• Shaikh, A. (n.d.). Official unemployment index (LR) and broader measure (MLU6N) [Graph]. Unpublished manuscript material.

• Shaikh, …

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Journal Articles On Unemployment, Real Wages, Labor Markets, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Lichtenberg, F. R. (1992, February 16). In a downturn, cut profits before jobs. The New York Times, p. F14.

• Abraham, K. G., & Haltiwanger, J. C. (1995, September). Real wages and the business cycle. Journal of Economic Literature, 33(3), 1215–1264. American Economic Association.

• McCloskey, D. N. (1995, September). Modern epistemology against analytic philosophy: A reply to Mäki. Journal of Economic Literature, 33(3), 1319–1323. American Economic Association.

• Rebitzer, J. B. (1993, September). Radical political economy and the economics of labor markets. Journal of Economic Literature, 31(3), 1394–1434. American Economic Association.

• Bean, C. R. (1994, …

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Marx's Theory Of Wages, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1996, July 1–2). Wage bargaining and wage curves [Unpublished manuscript].

• Shaikh, A. (1983). The reserve army of labor. In T. Bottomore (Ed.), A dictionary of Marxist thought (pp. 411–413). Harvard University Press.

• Chartrand, S. (2000, November 20). Researchers figure out how to tell male and female turkeys apart. The New York Times, p. F2.

• [Anonymous]. (2004, November 22). Facts: Factory farming [Unpublished document].

• Capdevila, G. (1996, November 26). Global unemployment rises to one billion says ILO report. InterPress Service.

• U.S. Bureau of Labor Statistics. (2003, February 4). Table A-8. Range of alternative measures …

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Ral 1.14, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1989, April 20). Marx on technical change [Handwritten manuscript notes].

• Shaikh, A. (n.d.). Wages and capital equations [Handwritten manuscript notes].

• Shaikh, A. (2001, August 28). RAL dynamics 1: The normal rate of unemployment and class struggle [Manuscript].

• Shaikh, A. (2001, April 28). RAL issues [Handwritten manuscript notes].

• Shaikh, A. (1990, December 17). Notes on Goodwin's model of growth with a reserve army of labor [Manuscript]. (Original work published November 1, 1988; Revised December 17, 1990)

• Shaikh, A. (n.d.). Graphs for the Goodwin model: Falling and rising R [Graphical manuscript …

Ral, Goodwin Model, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). The Goodwin model, Cobb-Douglas production function, and Solow [Handwritten manuscript notes].

• Author unknown. (n.d.). Wages, unemployment, price setting, and the natural rate of unemployment [Pages from macroeconomics textbook].

• Author unknown. (n.d.). The Phillips curve, Okun's law, aggregate demand, and disinflation [Pages from macroeconomics textbook].

• Author unknown. (n.d.). Productivity, the natural rate of unemployment, and technological progress [Pages from macroeconomics textbook].

• Shaikh, A. (2001, September 5). RAL dynamics: Technical change, population growth, and Harrod-neutral technical change [Handwritten manuscript notes].

• Shaikh, A. (n.d.). Analysis of the Goodwin-Shah-Desai 1981 model [Handwritten …

Unemployment, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1993, September 21). Theories of unemployment [Handwritten manuscript notes for Economics 210S].

• Shaikh, A. (1993, September 28). Employment: Overviews [Handwritten manuscript notes].

• Shaikh, A. (1996, October 21). The question of the money supply: The basic neoclassical model and bank credit [Manuscript].

• Shaikh, A. (1999, September 22). The Keynesian story of unemployment, the neoclassical micro story, and policy impotence [Handwritten manuscript notes for Economics 210S].

• Shaikh, A. (1996, October 21). Structure of the basic neoclassical model: The labor market block and Walras's law [Manuscript].

• Shaikh, A. (n.d.). Keynes' law and …

Various Articles On Accumulation, Crises And Money, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Clifton, J. A. (1983). Administered prices in the context of capitalist development: Gardiner Means, General Motors' pricing system, Donaldson Brown, Marx, and Sraffa [Manuscript].

• Bauer, O. (1986). Accumulation of capital (J. E. King, Trans.). History of Political Economy, 18(1), 93–123. Duke University Press. (Original work published 1913)

• Orzech, Z. B., & Groll, S. (1983). Otto Bauer's scheme of expanded reproduction: An early Harrodian growth model. History of Political Economy, 15(4), 619–637. Duke University Press.

• Tsuru, S. (1984, October). A survey of economic research in Japan, 1960–1983. Journal of Economic Literature, 22(3), 1101–1153. American Economic …

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Articles By Samuelson, Gordon And On Robinson, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Millmow, A. (2002, March 16). The disillusion of Joan Robinson with economics [Manuscript].

• Samuelson, P. A. (n.d.). Isolating sources of sterility in Marx’s theoretical paradigms [Annotated manuscript].

• Bliss, C. (1986). Mr Keynes and the anti-neoclassics. In Revolution and evolution in economics (pp. 247–265). Basil Blackwell.

• Arestis, P., Palma, G., & Sawyer, M. (Eds.). (1997). Capital controversy, post Keynesian economics and the history of economic thought: Essays in honour of Geoff Harcourt. Routledge.

• Boushey, H., & Pressman, S. (1997, April). The economic contributions of David M. Gordon. Review of Political Economy, 9(2), 161–192. Routledge.

Federal Funding In The Mountain West, 2021-2024, Isabelle G. Graham, Olivia K. Cheche, Caitlin J. Saladino, William E. Brown Jr.

Elections & Governance

This fact sheet presents data on the number of federal funding awards granted to the five Mountain West states of Arizona, Colorado, Nevada, New Mexico, and Utah between 2021 and 2024. These awards include investments authorized under major federal legislation such as the Inflation Reduction Act (IRA), CHIPS and Science Act, and Bipartisan Infrastructure Law (BIL), among other programs tracked by Invest.gov. The One Big Beautiful Bill Act (OBBBA) will see funding for these programs sunsetted (terminated as the above legislation expires).

What Kind Of Economists Do We Want? From A One-Track To A Two-Track Mind, Magnus Henrekson, Lars Jonung, Mats Lundahl

Economic and Business Review

We explore the challenges facing the current academic training of economists in small European countries such as Sweden. The monolithic focus on publishing in the top-five journals, which prioritizes methodological rigor over problem-driven research, is often a threat to social relevance and policy applicability. This limits pluralism, excludes many talented economists, and fails to prepare graduates for nonacademic positions. We propose a two-track model for PhD training and academic evaluation, emphasizing both traditional research and applied economic policy, tailored to the diverse needs of academia, public administration, and business. We also argue for broader evaluation criteria, enhanced interdisciplinary collaboration, and …

Servicification Of Manufacturing In Global Value Chains: How Services Trade And Foreign Direct Investment Shape Export Quality And Volume, Jakob Stemberger, Katja Zajc Kejžar

Economic and Business Review

This study examines the role of services trade and foreign direct investment (FDI) in shaping export performance among manufacturing firms participating in global value chains. Using firm-product-destination level panel data for Slovenia (2008-2020), the analysis investigates whether servicification-the growing integration of services into manufacturing-enhances firms' export quality and export volume. The findings reveal that services imports at the destination level significantly enhance export quality, particularly for consumer and intermediate goods, while services exports positively influence export volumes, suggesting strong complementarities between goods and services trade. Outward FDI is a key driver of both higher export quality and volume, while inward …

Corporate Social Responsibility Disclosure And Financial Performance: Empirical Evidence From Vietnam, Nguyen T. Tran, Nhung T. Le, Tung D. Nguyen

Economic and Business Review

This study examines the relationship between corporate social responsibility (CSR) disclosure and firm performance, with particular attention to CSR's role as a mitigating mechanism during periods of economic crisis, notably the COVID-19 pandemic. Utilizing a unique hand-collected dataset comprising CSR disclosures from Vietnamese publicly listed firms in the VNR500 index between 2014 and 2021, the analysis employs both accounting-based (return on equity) and market-based (Tobin's Q) performance indicators. The empirical findings indicate a positive association between CSR disclosure and firm performance across both measures. Disaggregated analysis reveals that governance-related disclosures significantly enhance market valuation, whereas the presence of a …

The Effect Of Disaggregated Country Risk On Foreign Portfolio Investment Flows In South Africa, Paul-Francois Muzindutsi, Tristan Kyle Govender, Nokwanda Nkwanyana, Sanelisiwe Zulu, Nondumiso Myeni, Sinegugu Khuzwayo, Fikile Dube

Economic and Business Review

This study explores the relationship between disaggregated country risk and foreign portfolio investment (FPI) flows in South Africa, focusing on both the long-run and short-run effects of economic, financial, and political country risk measures on net foreign purchases of shares (NFPS) and net foreign purchases of bonds (NFPB) during the period from 1995 to 2019. We employed autoregressive distributed lag (ARDL) and nonlinear autoregressive distributed lag (NARDL) models to assess the relationships between the variables. The results indicate that all disaggregated country risk measures have a long-run effect on NFPS and NFPB, and the impacts of these risks are asymmetric. …