Economics

Economic Scan And Workforce Development Profile: Barry, Branch, Calhoun, Kalamazoo, And St. Joseph Counties, Brad R. Watts, George A. Erickcek, Bridget Timmeney, Suprotik Stotz-Ghosh

Reports

No abstract provided.

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Michigan Socioeconomic Conditions And Trends: West Michigan Compared To East Michigan, Brad R. Watts

Reports

No abstract provided.

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The Impact Of Privatization On Economic Growth And Income Inequality In Developing Countries, Samuel Adams

School of Public Service Theses & Dissertations

In the 1960s and 1970s academicians, economists and politicians favored state ownership over private ownership in the production and provision of goods and services. By the end of the 1980s, however, there was a reversal of public policy from state domination of the production and provision of goods and services to private ownership and operation. This was due in part to what the World Bank referred to as "state failure”, which was characterized by inefficient service delivery, unprofitable SOEs, high government debt, and stagnant economic growth rates. Accordingly, privatization caught on in many countries as a policy tool to foster …

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Capital Flight And Economic Performance, Edsel L. Beja Jr

Economics Department Faculty Publications

Capital flight aggravates resource constraints and contributes to undermine longterm economic growth. Counterfactual calculations on the Philippines suggest that capital flight contributed to lower the quality of long-term economic growth. Sustained capital flight over three decades means that capital flight had a role for the Philippines to lose the opportunities to achieve economic takeoff. Unless decisive policy actions are taken up to address enduring capital flight and manage the macroeconomy more effectively, the Philippines remains caught in the perpetuity of crises, its economy hollowed-out, the people trapped in poverty, and once again, the country is frustrated from realizing a takeoff.

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Capital Flight And Economic Performance: Growth Projections For The Philippines, Edsel L. Beja Jr

Economics Department Faculty Publications

Capital flight aggravates resource constraints and contributes to undermine longterm economic growth. Counterfactual calculations on the Philippines suggest that capital flight contributed to lower the quality of long-term economic growth. Sustained capital flight over three decades means that capital flight had a role for the Philippines to lose the opportunities to achieve economic takeoff. Unless decisive policy actions are taken up to address enduring capital flight and manage the macroeconomy more effectively, the Philippines remains caught in the perpetuity of crises, its economy hollowed-out, the people trapped in poverty, and once again, the country is frustrated from realizing a takeoff.

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Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su

Research Collection School Of Economics

We study the application of the Solow growth model in China's non-governmental businesses and propose a reasonable modification for it. Our analysis indicates that business experience is closely tied to the output of China's non-governmental businesses. Our major findings include: (1) the business experience has little overall impact on the elasticity of output with respect to labour; (2) the business experience has a large impact on the elasticity of output with respect to capital and the elasticity increases as the business experience increases; (3) the adjusted Solow residual that reflects technological progress exhibits a negative relationship with the business experience, …

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Stock Prices And Economic Growth: Are They Related?, Peter J. Saunders, Koushik Ghosh

All Faculty Scholarship for the College of Business

This paper investigates the relationship between economic growth and stock prices in the U.S. Quarterly data on NASDAQ, DJIA, S&P 500 and real GDP ranging from the first quarter of 1971 to the fourth quarter of 2005 are analyzed. Cointegration test results indicate that while RGDP and S&P 500 are not cointegrated, RGDP and NASDAQ appear to be cointegrated. VEC analyses of the RGDP and NASDAQ data indicate that in the short-run, RGDP has a positive impact on stock prices. Further Granger causality testing of the data indicates that RGDP Granger -causes both changes in DJIA and S&P 500.

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The Equipment Hypothesis And U.S. Economic Growth, Alexander J. Field

In several articles published in the 1990s, de Long and Summers argued that investment in producer durables had a high propensity to generate externalities in using industries, resulting in a systematic and substantial divergence between its social and private return. They maintained, moreover, that this was not the case for structures investment. Together, these claims constitute the equipment hypothesis. This paper explores the degree to which the history of US economic growth in the 20th century supports it.

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Efektivitas Quantum Channel Dalam Mekanisme Transmisi Kebijakan Moneter: Studi Kasus Indonesia Tahun 1993-2005, Fajar Bambang Hirawan

Jurnal Ekonomi dan Pembangunan Indonesia

In the year 2002, Y. V. Reddy introduced a new thought in monetary economics theory, especially about transmission mechanism of monetary policy. Reddy classified the channels of transmission mechanism into three types, there are quantum channel, interest rate channel, and asset price channel. Quantum channel consists of two channels, there are money channel and credit channel. This research will examine the differences between money channel and credit channel, the factors which affect volume of money supply (M2) and credit, the stability of quantum channel, and also effectiveness of quantum channel, especially related on its role to push the economic growth. …

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Impact Of India's Economic Growth And The Changes Within Its Food Retail Landscape, Sunil Sharma

Honors College Theses

No abstract provided.

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Dampak Pembiayaan Defisit Anggaran Dengan Utang Luar Negeri Terhadap Inflasi Dan Pertumbuhan Ekonomi: Studi Kasus Indonesia Tahun 1970-2003, Joko Waluyo

Jurnal Ekonomi dan Pembangunan Indonesia

The main purpose of this study is to find the effect of budget deficit with foreign loans as source of funding on inflation and economic growth. This study focuses on transmission mechanism of budget deficit funding effects on inflation and economic growth. We use a specific simultaneous macroeconomic model which includes 17 behavioral equations and 18 identity equations with 6 blocks in this study, Two Stage least Square (TSLS) method is employed to estimate the behavioral equations in the model. This study use Indonesia secondary economic data from 1970 to 2003. Econometric tests are performed to produce BLUE estimator. This …

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Foreign Direct Investment And Economic Growth: A Time-Series Approach, Atrayee Ghosh Roy, Hendrik F. Van Den Berg

Department of Economics: Faculty Publications

Research has often focused on how foreign direct investment (FDI) transfers technology from developed economies to less developed economies. Most FDI occurs between developed economies, however, and the country receiving the greatest inflow of FDI is the United States. This paper examines whether such FDI inflows have stimulated growth of the U.S. economy. We apply time-series data to a simultaneous-equation model (SEM) that explicitly captures the bi-directional relationship between FDI and U.S. economic growth. FDI is found to have a significant, positive, and economically important impact on U.S. growth. Also, our SEM estimates reveal that FDI growth is income inelastic. …

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Fueled By Technology Market Demand, Massachusetts Economic Growth Increases, Alan Clayton-Matthews

Public Policy and Public Affairs Faculty Publication Series

The pace of economic growth in Massachusetts has picked up signiﬁcantly, beginning in the fourth quarter of last year, reﬂecting improved worldwide markets for information technology equipment in the last half of 2005. This resurgence in technology markets helped reverse a deceleration in state economic growth that the state experienced between mid-2004 and the third quarter of 2005. The Massachusetts economy has performed better over the last six months than at any time since the current expansion began in the second quarter of 2003. The recent pace of expansion matched the long-term average growth in real gross state product of …

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Look For Little Growth In The First Half Of 2006, Alan Clayton-Matthews

Public Policy and Public Affairs Faculty Publication Series

The state’s economy remains stuck in slow gear, and may no longer even be moving forward. In the face of slow employment growth, a population and brain drain, a sharp spike in energy costs, volatile consumer conﬁdence, housing prices that are clearly cooling, increasing federal budget deﬁcits, trade deﬁcits and rising interest rates, perhaps it’s good news that the economy has been able to grow at all.

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Technical Change And Us Economic Growth: The Interwar Period And The 1990s, Alexander J. Field

Economics

Multifactor productivity growth in the U.S. economy between 1919 and 1929 was almost entirely attributable to advance within manufacturing. Distributing steam power mechanically over shafts and belts required multistory buildings for economical operation. The widespread diffusion of electric power permitted a shift to single story layouts in which goods flow could be optimized around work stations powered by small electric motors. Within this framework, as well as opportunities to produce a variety of new products, economies of scale and learning by doing permitted rapid and across the board gains in manufacturing productivity. The sector contributed 83 percent of the 2.02 …

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Income Inequality And Economic Growth, Nor Azam Abdul Razak

LSU Doctoral Dissertations

A central issue in the growth literature is whether initial conditions matter for income disparity among nations. If they don't, then countries will converge to a single regime once the structural features of the economies are controlled for. If they do, then countries will converge to multiple regimes even if the structural features are controlled for. This dissertation is designed to investigate whether the world is characterized by a single or multiple regimes. The first paper investigates whether the predictions of a particular multiple-regime model due to Galor and Zeira (1993) are borne out by the data. The baseline analysis …

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Do Imports Cause Economic Growth? A Time-Series Investigation Of The U.S. Data, Peter J. Saunders, Koushik Ghosh

All Faculty Scholarship for the College of Business

This paper investigates the relationship between imports and economic growth in the US in the long run and the short run. Quarterly data ranging from the first quarter of 1970 to the fourth quarter of 2000 are used to investigate this relationship. Cointegration tests using Johansen's (] 988) technique are used to analyze the long run relationship between imports and economic growth (measured by nominal GDP). Test results indicate that imports and economic growth are related in the long run. The short run analysis of the data is conducted within vector error correction (VEC) testing framework. VEC rest results indicate …

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The Impact Of Trade Liberalization On Growth, Unemployment, And Poverty In Bangladesh, Maha Z. Mirza

Graduate Program in International Studies Theses & Dissertations

Trade liberalization has been one of the major policy components of the governments of the developing countries in the recent decades. Bangladesh as many other developing nations, has adopted different measures of trade reform policies as an element of International Monetary Fund's (IMF) Structural Adjustment Program (SAP), as well as to be an integral part of the world wide trend of globalization. Such policy measures include the reduction/rationalization of tariff rate, simplification of import and export trade procedures, relaxation of restrictive trade policies, and reform of financial and monetary policies. Even though, the trade reform measures were anticipated to increase …

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Fiscal Federalism And Its Discontents: Theory And Policy, Abu Girma Moges

International Conference on African Development Archives

A number of countries have pursued fiscal decentralization within a broad context of political and economic reforms to improve the performance of their public sector. Fiscal decentralization can potentially improve the allocation efficiency of the public sector and increase the capacity of a nation to address its pressing economic, social and political problems. The sustainability of such an approach is conditioned by the existence of effective democratic institutions and implementation capabilities. When political imperatives dictate the adoption of fiscal decentralization, however, the process would confront problems of the commons, capacity constraints and externalities that would limit the potential efficiency gains …

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Economic Transition And Growth, Peter C.B. Phillips, Donggyu Sul

Cowles Foundation Discussion Papers

Some extensions of neoclassical growth models are discussed that allow for cross section heterogeneity among economies and evolution in rates of technological progress over time. The models oﬀer a spectrum of transitional behavior among economies that includes convergence to a common steady state path as well as various forms of transitional divergence and convergence. Mechanisms for modeling such transitions and measuring them econometrically are developed in the paper. A new regression test of convergence is proposed, its asymptotic properties are derived and some simulations of its ﬁnite sample properties are reported. Transition curves for individual economies and subgroups of economies …

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The Health Challenge In Pakistan: Prognosis And Prescription, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

There is a strong theoretical and empirical evidence that Economic growth causes improvements in human development which, in turn, increases economic growth. The improvement in health results in enhancement of basic capabilities that adds value to human life. The transmission to growth takes place through impact on worker productivity, through demography and through trade and investment. Health has a positive effect on poverty reduction too. Poor households are hit by major illness and fall into poverty trap. Lower earnings due to withdrawal from full time employment increases the risk of illness for the rest of the households. Risk of falling …

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Distributing Benefits Of Growth To The Majority, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The major recurring themes in the popular discussion on the economy have been shifting over the last six years. In the earlier years of the Musharraf period it was widely believed that the country was going to default on its external obligations. When this did not happen there was a loud consensus that Pakistan would not be able to comply with the stringent conditionalities of the IMF and would, sooner or later, get off the track. Since the country successfully completed the programme, the concern was raised that we had emphasized too much on macroeconomic stabilization such as large foreign …

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Globalization, Regional Integration, And National Development, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would, at the outset, like to welcome the foreign delegates and particularly those from the countries in the South Asia Region. I am extremely happy to join you on this occasion and thank you for inviting me, once again, to this important event. The views that I would like to share with you this evening will focus on the economic situation globally, regionally within Asia and South Asia and nationally within the South Asian Countries. I will then briefly examine the prospects and challenges that face our region in moving forward in this age of globalization and integration to …

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Economic Integration In Central Asia, Rustam Eshniyazaov, Evert Van Der Sluis

Economics Commentator (1972- 2016)

No abstract provided.

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Government Expenditure And Economic Growth In Nigeria: A Disaggregated Approach., N. I. Akpan

Economic and Financial Review

The paper represents part of a larger research agenda to assess how fiscal policy influences economic growth in Nigeria. This paper attempts to assess the impact of government expenditure on economic growth in Nigeria by adopting a disaggregated approach to the study. The essence of the study is to determine the components of government expenditure that enhances growth, identify those that do not, and recommend that they should be cut or reduced to a bare minimum. The paper is broadly consistent with literature and it opens new grounds by focusing on the long-run impact of fiscal policy. The analytical framework …

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Competing At The Frontier: The Changing Role Of Technology Policy In Singapore's Economic Strategy, Winston T. H. Koh, Poh Kam Wong

Research Collection School Of Economics

For an economy competing at the global frontier, an innovation-based growth strategy requires a well-developed technological infrastructure, a set of capabilities-focused technology policies, as well as an institutional environment that stimulates innovation and entrepreneurship. This paper examines the role played by science and technology policy in an economy's transition to an innovation-based growth strategy. We discuss the challenges governments face as they restructure economic institutions to deepen R&D capabilities and encourage technology creation. We review Singapore's experience in this regard and assess its ongoing efforts to remake itself to compete at the global frontier.

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Capital Democratization, Robert Ashford

College of Law - Faculty Scholarship

Although, the ideas underlying binary economics were first published in 1958 (Kelso and Adler), the many books and papers that discuss the subject, with the exception of Kane (2000) and Kurland (2001), do not utilize conventional economics language. To facilitate the teaching of binary economics in beginning and intermediate college courses in economics and business, the paper explains some major microeconomic and macroeconomic fundamentals of binary economics by utilizing conventional neo-classical economic models. It then compares the theoretical results reached in a non-binary economic environment to those that may be reached in a binary one. The most important result from …

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Memo On Binary Economics To Attorneys For Women And People Of Color Re: What Else Can Public Corporations Do For Your Clients?, Robert Ashford

College of Law - Faculty Scholarship

One important duty of lawyers is to assist clients in identifying and securing their essential rights, responsibilities, and opportunities. One important purpose of legal education is to enable lawyers to assist clients and society in identifying and securing essential rights, responsibilities, and opportunities. This Article describes one opportunity (based on an approach to economics called "binary economics" first proposed by Louis Kelso), rarely advanced by counsel, that may offer women and people of color, public corporations, and their shareholders benefits far greater than expectations based on the mainstream economic theories (classical, neoclassical, and Keynesian) usually employed to evaluate economic policy …

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Part 1: The Hampton Roads Economy Midway Through The Decade, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Our regional economy continues to perform better than the Commonwealth of Virginia and the nation. The 2000-2004 time period is the best five year time period our region has experienced since 1969. Employment increased four times as rapidly as national employ-ment and we experienced significant job growth in scientific, technical and information technology occupations—-something that has largely eluded us in the past. Defense expenditures increasingly dominate the region’s economy and account for about 75 percent of all recent growth. However, the BRAC process could throw a huge wrench into this prosperity. If all BRAC recommendations, including the closure of Oceana, …

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Health And Growth, Petia Stoianova Stoytcheva

LSU Doctoral Dissertations

Inarguably the most important question is about the unequal distribution of income among countries. Development economists have recently turned to health for an answer. This dissertation investigates the e®ect of health on cross-country income. The first essay sheds new light on the impact of AIDS on cross-country income levels. We control for a variety of factors that are potentially related to income as suggested by our empirical model and existing related literature. Using the extended (for human capital) Solow model as our baseline empirical specification, we consider cross-sectional and panel estimation. For the full sample it is shown that AIDS …

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Full-Text Articles in Economics

Economic Scan And Workforce Development Profile: Barry, Branch, Calhoun, Kalamazoo, And St. Joseph Counties, Brad R. Watts, George A. Erickcek, Bridget Timmeney, Suprotik Stotz-Ghosh

Reports

Michigan Socioeconomic Conditions And Trends: West Michigan Compared To East Michigan, Brad R. Watts

Reports

The Impact Of Privatization On Economic Growth And Income Inequality In Developing Countries, Samuel Adams

School of Public Service Theses & Dissertations

Capital Flight And Economic Performance, Edsel L. Beja Jr

Economics Department Faculty Publications

Capital Flight And Economic Performance: Growth Projections For The Philippines, Edsel L. Beja Jr

Economics Department Faculty Publications

Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su

Research Collection School Of Economics

Stock Prices And Economic Growth: Are They Related?, Peter J. Saunders, Koushik Ghosh

All Faculty Scholarship for the College of Business

The Equipment Hypothesis And U.S. Economic Growth, Alexander J. Field

Economics

Efektivitas Quantum Channel Dalam Mekanisme Transmisi Kebijakan Moneter: Studi Kasus Indonesia Tahun 1993-2005, Fajar Bambang Hirawan

Jurnal Ekonomi dan Pembangunan Indonesia

Impact Of India's Economic Growth And The Changes Within Its Food Retail Landscape, Sunil Sharma

Honors College Theses

Dampak Pembiayaan Defisit Anggaran Dengan Utang Luar Negeri Terhadap Inflasi Dan Pertumbuhan Ekonomi: Studi Kasus Indonesia Tahun 1970-2003, Joko Waluyo

Jurnal Ekonomi dan Pembangunan Indonesia

Foreign Direct Investment And Economic Growth: A Time-Series Approach, Atrayee Ghosh Roy, Hendrik F. Van Den Berg

Department of Economics: Faculty Publications

Fueled By Technology Market Demand, Massachusetts Economic Growth Increases, Alan Clayton-Matthews

Public Policy and Public Affairs Faculty Publication Series

Look For Little Growth In The First Half Of 2006, Alan Clayton-Matthews

Public Policy and Public Affairs Faculty Publication Series

Technical Change And Us Economic Growth: The Interwar Period And The 1990s, Alexander J. Field

Economics

Income Inequality And Economic Growth, Nor Azam Abdul Razak

LSU Doctoral Dissertations

Do Imports Cause Economic Growth? A Time-Series Investigation Of The U.S. Data, Peter J. Saunders, Koushik Ghosh

All Faculty Scholarship for the College of Business

The Impact Of Trade Liberalization On Growth, Unemployment, And Poverty In Bangladesh, Maha Z. Mirza

Graduate Program in International Studies Theses & Dissertations

Fiscal Federalism And Its Discontents: Theory And Policy, Abu Girma Moges

International Conference on African Development Archives

Economic Transition And Growth, Peter C.B. Phillips, Donggyu Sul

Cowles Foundation Discussion Papers

The Health Challenge In Pakistan: Prognosis And Prescription, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Distributing Benefits Of Growth To The Majority, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Globalization, Regional Integration, And National Development, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Economic Integration In Central Asia, Rustam Eshniyazaov, Evert Van Der Sluis

Economics Commentator (1972- 2016)

Government Expenditure And Economic Growth In Nigeria: A Disaggregated Approach., N. I. Akpan

Economic and Financial Review

Competing At The Frontier: The Changing Role Of Technology Policy In Singapore's Economic Strategy, Winston T. H. Koh, Poh Kam Wong

Research Collection School Of Economics

Capital Democratization, Robert Ashford

College of Law - Faculty Scholarship

Memo On Binary Economics To Attorneys For Women And People Of Color Re: What Else Can Public Corporations Do For Your Clients?, Robert Ashford

College of Law - Faculty Scholarship

Part 1: The Hampton Roads Economy Midway Through The Decade, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Health And Growth, Petia Stoianova Stoytcheva

LSU Doctoral Dissertations