Behavioral Economics Commons^™

Rebuilding Confidence In Nigerian Banks: The Challenge Of Good Corporate Governance And Professionalism., Uju M. Ogubunka

Bullion

The Nigerian Banking industry which is still evolving, has great potentials for positively impacting on the developing economy with over a hundred and forty million (140 million) people. Without a doubt, the industry has made noticeable progress and positive impact since its birth in the early 1890s, it would have achieved more had it not been bedevilled by occasional crisis. incidences of bank crisis in Nigeria, like in other jurisdictions, had led to bank shake-ups, failures and subsequent liquidations. Those outcomes gave rise to serious erosion of stakeholders' confidence in banking institutions and the system with far-reaching negative consequences for …

Investor Knowledge And Investment Barriers., Steven Doman

Student Works (2010-2019)

The world of investing in the various products related to the stock and bond markets is confusing for many people. This is a problem since financial investments often represent a large portion of an individual’s personal assets. As regulators begin to search for answers about what caused the economic crisis of 2008-2009 and try to pass regulations that will prevent it from happening again, investors will continue to look to the products of investment firms to help accomplish their financial goals. Unfortunately for investors, many will continue to choose investments based on very limited personal knowledge. Investment firms will in …

Financial Illiteracy: Prevalence, Consequences, And Solutions, Gerald Matasy

Economics Undergraduate Honors Theses

As Americans have become increasingly responsible for their own financial security their ability to make financial decisions in their best interests has certainly grown in importance. The focus of this paper is to determine what role financial literacy plays in making optimal financial decisions and maintaining economic stability. Using mostly research from other studies and some original research, this paper seeks to examine the level of financial literacy among the general population and what the implications are for the general lack of literacy. What I find is that individuals who have lower levels of financial literacy generally make poorer financial …

The Economic Impact Of Medicaid Spending In Arkansas, Katherine A. Deck, Viktoria Riiman

Publications and Presentations

Arkansas Medicaid is a joint federal and state program that provides necessary medical services to needy and low-income persons that is administered through the Arkansas Division of Medical Services at the Arkansas Department of Human Services. The Medicaid program is designed to provide the baseline health outcomes that are necessary for the state’s economy to function. The expenditures that are made through the Arkansas Medicaid program significantly affect the Arkansas economy. This report details the economic impacts of the direct expenditures of the Medicaid program on the Arkansas economy.

The Economic Impact Of The University Of Arkansas, Katherine A. Deck, Viktoria Riiman

Publications and Presentations

Founded in 1871, the University of Arkansas was established in the city of Fayetteville as both the state university and the major land‐grant university for Arkansas. The University of Arkansas is a flagship university for the integration of student engagement, scholarship and research, and innovation that collectively transforms lives and inspires leadership for a global society. As such, the impact of the University of Arkansas extends far beyond the transfer of knowledge from professors to students and is far reaching in social and economic terms. As leading research universities across the country engage in the process of enumerating the socio‐economic …

China And Brazil: Potential Allies Or Just Brics In The Wall?, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

Brazil is an increasingly important actor in global governance and for China specifically. Sino-Brazilian relations have deepened considerably but they remain concentrated in areas of trade and investment. There is also considerable overlap in interests between the two countries in other areas, such as diplomatic and political relations. At the same time, China must manage carefully important differences that exist over the enlargement of the UN and the potential challenge to the Brazilian industry.

Ethics, Evidence And International Debt, Julie A. Nelson

Economics Faculty Publication Series

The assumption that contracts are largely impersonal, rational, voluntary agreements drawn up between self-interested individual agents is a convenient fiction, necessary for analysis using conventional economic methods. Papers prepared for a recent conference on ethics and international debt were shaped by just such an assumption. The adequacy of this approach is, however, challenged by evidence about who is affected by international debt, how contracts are actually made and followed, the behavior of actors in financial markets, and the motivations of scholars themselves. This essay uses insights from feminist and relational scholarship from several disciplines to analyze the reasons for this …

The Remittance Environment In Nigeria, A. Englama

CBN Occasional Papers

This preliminary study is on the remittance environment in Nigeria which became compelling because of low availability of information and empirical research on the subject. The need to obtain evidence-based information to drive policy formulation on remittances inflow which grew from US$1.4 billion in 2002 to US$17.9 billion in 2007 and tap its potentials to promote economic growth in Nigeria were the rationale for the study. An understanding of the drivers, inhibitors, characteristics, cost of transaction and channels of the flows would promote policy formulation to improve the remittance environment. The objectives of the survey were to examine current trend …

Why Brazil Has Not Grown: A Comparative Analysis Of Brazilian, Indian, And Chinese Economic Management, Fernando Ferrari-Filho, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

This paper does not aim to dispute that Brazil would benefit from reforms in any or all of these areas. Rather, the paper offers a skeptical perspective on reform menus and proposes an alternative explanation for the faster growth of Brazil’s peers India and China2. The paper begins by introducing (section 1) the idea of the BRICs countries, to establish the basis for comparisons of most similar cases. It then surveys the results of a generation of Washington Consensus era growth (section 2). Although there is a considerable amount of divergence over what causes growth, it seems that something approaching …

The Gettysburg Economic Review, Volume 2, Spring 2008

Gettysburg Economic Review

No abstract provided.

The Genetic, Social, & Behavioral Factors That Motivate Parents To Abuse Their Children, Bradley M. Garner

Gettysburg Economic Review

This paper examines the influence of economic, genetic, behavioral, and social factors on the parental choice to abuse one’s child. I derive a choice model for the parents based on McFadden’s (1974) conditional logit model. Within society, the parent or parents not only bear the responsibility for their child’s well being, but also for ensuring the child will grow up to be an educated, productive member of society. Through the examination of individual parent and child behavior patterns, as well as numerous social and economic factors from the Physical Violence in American Families Survey of 1985, I show that after …

The Economic Impact Of The 50-Year Career Of Frank Broyles At The University Of Arkansas, Jeffery T. Collins

Publications and Presentations

Frank Broyles retired from the University of Arkansas on December 31, 2007, after a career in the athletic department of the school that lasted 50 years. First as coach and later as men’s athletic director, Frank Broyles had a profound impact on the state of Arkansas. His leadership skills led to tremendous unquantifiable benefits like personal mentorship of players and staff, notoriety, and philanthropy. His five decade long tenure at the University of Arkansas also led to demonstrable economic impact. The purpose of this study is to quantify and celebrate the economic benefits that have accrued to Arkansas because of …

On The Segmentation Of Markets, Nicolas Laurent Jacquet, Serene Tan

Research Collection School Of Economics

This paper endogenizes the market structure of an economy with heterogeneous agents who want to form bilateral matches in the presence of search frictions and when utility is nontransferable. There exist infinitely many marketplaces, and each agent chooses which marketplace to be in: agents get to choose not only whom to match with but also whom they meet with. Perfect segmentation is obtained in equilibrium, where agents match with the first person they meet. All equilibria have the same matching pattern. Although perfect assortative matching is not obtained in equilibrium, the degree of assortativeness is greater than in standard models.

Are You Sure You're Saving Enough For Retirement?, Jonathan Skinner

Dartmouth Scholarship

Many view the soon-to-retire Baby Boomers as woefully unprepared for their golden years, while other economists have taken a more sanguine view of American levels of saving. And if Americans are failures at saving enough for retirement, why are some retirees so happy? The seemingly simple question of "Am I saving enough for retirement?" is apparently not so simple at all. Instead, it touches on a variety of deeper issues in economics, psychology, and health policy. I use the program ESPlanner to present life-cycle retirement wealth targets for a range of incomes and situations typical of American Economic Association members. …

Assessing The Economic Impact Of The Fayetteville, Arkansas Smoking Ban, Jeffery T. Collins

Publications and Presentations

This report is the third in a series of studies examining the impact of the implementation of the smoke-free ordinance in Fayetteville, Arkansas in March of 2004. The ban on smoking in public places in Fayetteville provides an opportunity to scientifically investigate the economic impact of this change in public policy. By comparing pre-ban historical economic growth rates to post-ban growth rates both within the city of Fayetteville and in comparable communities, some measure of the impact can be developed. Variables of interest include hotel, motel, and restaurant (HMR) taxes, employment, and sales taxes. The changes in these variables need …

The Gettysburg Economic Review, Volume 1, Spring 2006

Gettysburg Economic Review

No abstract provided.

Assessing The Economic Impact Of The 6th Annual Bikes, Blues, And Bbq Festival On The City Of Fayetteville, Jeffery T. Collins

Publications and Presentations

This report presents the results of the surveys used to develop estimates of the economic impact of the Bikes, Blues and BBQ (BBBBQ) festival on the city of Fayetteville in 2005. In order to fully estimate the economic impact of the festival, its influence was assessed on three different constituent groups: Fayetteville residents, local businesses, and BBBBQ visitors.

The visitor survey was developed by the Center for Business and Economic Research and was administered September 28-October 1, 2005 by University of Arkansas students who were hired and trained by the Center for Business and Economic Research. The resident and local …

Understanding And Interpreting Financial Statements, Awoyungbo B. O.

Bullion

As the owners of a company the shareholders, through its Board, are responsible for the hiring and firing of the management of their company. The principles of company finance are therefore based upon the assumption that the objective of management is to maximise the wealth of its ordinary shareholders. This paper discusses some of the general principles which are applied in the preparation of financial statements. It lists and explains the following components of a financial statement; Statement of Accounting Policies, Balance Sheet, Profit and Loss Account, Notes to the Accounts, Cash flow statements ,Value added statements, Five year financial …

Priming The Pump: Research As A Catalyst For Economic Growth, Jeffery T. Collins, Craig T. Schulman

Publications and Presentations

This analysis is designed to answer several important questions regarding the impact of research dollars invested in the state of Arkansas. We begin by discussing the state of the state in terms of income measures and measures of educational attainment levels. Throughout this analysis, the state of Arkansas is compared to the U.S., to a group of peer states , and, initially, to the state of Mississippi.

Next, we examine the linkage between income and education. We also examine higher education in the state in terms of spending, access and research dollars. From this general description we examine the present …

Interstate Cooperation And Educational Development In Nigeria., Bankole Oni

Bullion

The paper highlights on interstate cooperation and educational development in Nigeria. Education is a major instrument for economic and social development. The process of allocating resources to the sector vis-a-vis other sectors depends again on the political priorities of the decision makers. Whether or not different states, which belong to the same ideological camp, can and will cooperate in the field of education in future is not certain. The empirical analysis of existing facts have further strengthened the hypothesis that there exists a structural and cause - effect relationship between education and other aspects of the social structure. Political competition …

Household Saving: Micro Theories And Micro Facts, Martin Browning, Annamaria Lusardi

Dartmouth Scholarship

In this survey, we review the recent theoretical and empirical literature on household saving and consumption. The discussion is structured around a list of motives for saving and how well the standard theory captures these motives. We show that almost all of the motives for saving that have been suggested in the informal saving literature can be captured in the standard optimizing model. Particular attention is given to recent work on the precautionary motive and its implications for saving and consumption behavior. We also discuss the "behavioral" or "psychological" approach that eschews the use of standard optimization techniques and focuses …

The Role Of Central Banks In Capital Market Development: The Nigerian Experience., Alhaji A. Ahmed

Bullion

Central banks, especially in Third World countries, play a major role in the growth and development process. Although the structures, functions and powers of central bank vary from country to country, depending on the economic, political, social and other environmental realities prevailing in society, the primary role of any central bank is the promotion of monetary stability and a sound financial system. In performing this role, a central bank necessarily undertakes some functions which include the issue of legal tender currency, maintenance of the value of the national currency, enhancement of funds mobilization, facilitation of competitive efficiency among banks and …

The Role Of Regulatory Bodies In Capital Market Development: The Nigerian Experience., George Akamiokhor

Bullion

This paper examined the need for capital market regulation which is motivated by the desire to protect the investing public from malpractices, instil confidence in the system and ensure financial market and economic stability which are pivotal to economic growth and development. History has shown that inadequate or absence of regulation is detrimental to the capital market as it encourages sharp practices by participants. Regulatory agencies are therefore necessary to police activities in the market with the aim of preventing or minimizing abuses which might mar investors’ confidence, the market's integrity and stability. As financial markets get liberalized, market participants …

The Challenges Of The New Banking Legislations, Oduyemi O. S.

Bullion

This paper examines Nigeria's new banking legislations. The new banking laws together with deposit insurance system, established in 1988, and the new regulations embodies in the prudential guidelines and the accounting standards for banks, both introduced in 1990, constitute and essential foundation for managing and promoting a dynamic and sound financial sector. The new regulatory environment places emphasis on the need for institutions to strengthen and build up capital, improve the quality of assets and maintain high lending and investment standards. The paper is in three parts. Part I reviews some of the major trends in the financial industry with …

Regulatory Framework Of Non-Bank Financial Institutions In Nigeria., Ojo M. O.

Bullion

This article examines the regulatory framework of non-banking institutions (NBFIs) in Nigeria. Those institutions often referred to as non-banks have been identified. However, it is noted that in this paper non-bank financial institution are those defined as other financial institutions by the Banks and Other Financial Institutions Decree (BOFID). The objective of this paper is to present an overview of the regulation of the non-bank financial institutions over the years. Part One of this paper identified the relevant institutions termed non-bank financial institutions. Part Two, the new regulatory framework is reviewed. This is followed in Part Three by an appraisal …

Federal Reserve Lending To Commercial Banks: Effects On Financial Market Stability And Monetary Control, David Allen Simantel

Dissertations and Theses

The Federal Reserve has proposed a change in its method of administering the discount window. This paper looks at the effects of this proposal on monetary control and on the money markets, assuming that banks base their behavior on profit maximization over the long run.

First, the reserve supply process is postulated. The conditions under which borrowing from the Federal Reserve will improve or reduce monetary control are stated. Second, the primary reserve adjustment process is formulated to show how primary reserve adjustment can affect rates in the money market. Finally arguments are set forth to show how borrowed reserves …