Growth and Development Commons^™

Fiscal And Monetary Policies For Inclusive Growth In Developing And Emerging Markets, Collins Anosike

Journal of Global Awareness

The study examined the effects of monetary and fiscal policies in attaining inclusive growth for some developing countries and emerging markets. The study selected 20 countries and grouped them into group one and group two. The study is unique because it captures a broader range of countries compared to previous studies and shows their effect on economic growth. We use panel data and employ OLS regression and Johansen cointegration. We examine how each variable, general government expenditure, gross national expenditure, total revenue, official exchange rate, broad money, and deposit interest rate, affects the dependent variable (real GDP) from 1980 to …

Inequality And Well-Being, Sarah E. Boslaugh

Theses

Human well-being has been a topic of interest to philosophers at least since the time of Aristotle, and well-being has also been a core concern of social scientists since the birth of the discipline in the late 18^th century. Some theories of well-being include economic inequality as a factor, and multiple ways to measure this factor have been developed; as with well-being, there is no single best measure of economic inequality and the choice of which measure to use may be based on both theoretical and practical reasons. I argue that income inequality should always be included as a …

Constructing A State: Canals And The Transformation Of The Economy, Politics, And Finance In Nineteenth-Century New York, Youwei Xing

All Dissertations

This dissertation consists of three essays in economic history, unified by a focus on one of America's earliest transportation infrastructures, the canal system, in nineteenth-century New York. Each chapter explores a different aspect of the state's transformation: its economy, politics, and finance, each of which helped construct New York as the Empire State.

The first chapter studies the economic impact of canals on economic modernization from three aspects: sectoral transition, urbanization, and banking development. Contrary to much of the modern literature finds transportation infrastructure leads to decentralization, I find the opposite-evidence of centralization. Specially: (1) canal towns experienced a transition …

New Institutional Economics : A Few Extensions, Murali Patibandla

Markets, Globalization & Development Review

This article traces out the development of the New Institutional Economics (NIE). It delineates the literature into two interrelated themes of institutional environment and institutions of governance. The rules of the game of institutional environment determine governance choices. Inefficient institutional environment results in inefficient governance mechanisms which causes misutilization of scarce resources. Institutional environment evolves over time. This article demonstrates the evolution of institutions in response to shocks with analysis of historical examples. The prevailing literature over glorifies the colonial rule of the West for the emergence of capitalist institutions. It fails to explain success stories of Japan, Mainland China …

The Benefits To New York State Of The Local Roads Program, Theresa Lagasse

Applied Economics Theses

ABSTRACT:

This paper explores the history of the Cornell Local Roads Program and how it helps to satisfy Cornell’s land grant mission as an extension program. Then the paper will look at the programs impact both directly and indirectly on the economy of New York State, via its role in improving local road infrastructure and providing highway departments with trainings and technical support.

The focus of the paper examines the four primary components of the Local Roads Program at Cornell, including workshops, research initiatives, technical assistance, and the Local Roads library, each of which contributes to better road management and …

Power And Progress, Our Thousand-Year Struggle Over Technology And Prosperity, Jay Nathan

Journal of Global Awareness

No abstract provided.

Working Paper No. 87, The Double-Edged Sword Of American Philanthropy, Nathan Lewis-Lusso

Working Papers in Economics

This inquiry seeks to establish that American philanthropy, often hailed as a moral virtue, is in part a reflection of systemic policy failures that have forced private individuals to address public needs. While one blade of the philanthropic sword has historically provided essential support in areas such as education, healthcare, and poverty alleviation, the other blade of the sword has also allowed for wealthy individuals to shape public priorities, often reinforcing existing inequalities. By analyzing the historical development of philanthropy, its role in addressing policy gaps, and its potential in undermining democratic governance, this inquiry highlights the complex and often …

Synthetic Statocracy - Pakistan’S Self-Created Inferno: Examining The Causes And Consequences Of Military Dominance In Pakistan, Umer Lakhani

CMC Senior Theses

This paper examines the history of military rule in Pakistan. Applying the framework of Johannes Gerschewski in The Three Pillars of Stability: Legitimation, Repression and Co-Optation in Autocratic Regimes, this paper looks to explain how military rulers who presided over the three periods of military rule in Pakistan consolidated and maintained their power, as well as the effects that these periods of rule had on Pakistani society. This paper will also supplement Gerschewski’s general framework by applying the findings of various established authors who have been published extensively on Pakistan’s political history, economy and relationship with the military. Such authors …

From Colony To Classroom: British Rule And Contemporary Educational Outcomes In India, Yashvita Shukla

Honors Theses

This study analyzes the modern day legacy of British colonial ruling structures on Indian educational outcomes. In directly ruled areas, the British retained total control, while Indian princes in indirectly ruled areas had administrative agency. I find that directly ruled districts have higher literate population shares across both genders over three census years, but no significant difference by 2011 in primary, secondary, and tertiary education, controlling for colonial geographic conditions. Gender-disaggregated results generally find stronger colonial effects for women than men. This thesis challenges earlier findings and implies that the British effort to create an educated administrative class and their …

Working Paper No. 86, The Evolution Of Japan's Economy, Kasandra Reyes Fernandez

Working Papers in Economics

This inquiry seeks to establish that already from its feudal era characterized by fiefdoms and kingdoms to its development as a modern nation- state, Japan’s economic history reveals discernible variants of capitalism. Highlighting these variants assist us in defining distinct eras that also offer the observer a sense of the evolution of Japan’s economy. In advancing this thesis, the first part considers differences between variants of capitalism found in the Tokugawa Era and, after 1868, what is designated as the Meiji Era. The focus shall be on the economic foundations of the Tokugawa shogunate versus the nascent industrialization during the …

A Revolution Deferred: Polycrisis And The Failures Of Incremental Change In South Africa, Geoffrey Schneider

Working Papers

No abstract provided.

The Rise And Fall Of Caribbean Piracy: A Socio-Technical Analysis Of The War Of Spanish Succession, Maritime Innovation, And Edward Randolf’S Policy, Dominique M. Salinski

Armstrong Undergraduate Journal of History

This paper argues that the mode and historical context in which piracy ascended in the Caribbean after the War of the Spanish Succession, as well as the historical interrelation between maritime technology and pirate tactics, coalesced into a diachronic Damocles Sword that resulted in the downfall of piracy in the Golden Age. Sanctioning piratical enterprises as a subconventional maritime strategy displayed a geopolitical reliance on piracy by great powers. However, the depraved treatment conventional sailors received across all major European navies generated a social stratum that eventually bore the Golden Age of Piracy, while simultaneously contributing significantly to British naval …

The New China Model: Combating Economic And Political Order, Jack R. Swords

Dartmouth College Master’s Theses

Contemporary world politics centers around the actions of the two largest powers on Earth, the United States and China. They are both each other’s greatest adversary yet at the same time are each other’s largest trading partners. This thesis explores the nature of China’s economic climate that has seen it grow to one of the world’s foremost powers. However, the East Asian Nation faces economic challenges centered around the three D’s: Debt, Deflation, and Demographics. This thesis analyses what the nature of these challenges are and how China is responding to them within the ever-advancing world of economic and political …

Exploring The Relationship Between Load Shedding And Crime In Gauteng, Bhavesh Ram

Master's Theses

This study investigates the impact of load shedding, a recurring power outage phenomenon in South Africa, on crime rates in the densely populated Gauteng province. Using a novel dataset that combines Eskom's load shedding schedules with detailed crime statistics from 2015 to 2022, a fixed-effects regression model is employed to examine the relationship between blackout hours and various crime categories. Findings reveal that while load shedding does not significantly affect overall crime rates, it significantly increases the incidence of contact crimes and sexual offenses, particularly during daylight hours. Additionally, our results provide evidence that load shedding diminishes the ability of …

Exploring The Value Of Cannabis And Changing Mindset For Advancing Socio-Economic Development In Tanzania, 1891–2023, Iddy Ramadhani Magoti

Journal of Humanities and Social Sciences

This paper examines the origin, cultivation, laws, values, uses and other cultural practices connected to cannabis in Tanzania, and other parts of the world, for the purpose of contributing to the existing debate on whether cannabis should be legalised or illegalised in Tanzania and other parts of Africa. The data for this study were collected from both primary and secondary sources, including published documents, oral sources, archival documents and newspapers. Based on the evidence collected, I argue that the values and other benefits accrued from the cultivation and uses of cannabis outweigh the negative impacts which policy makers capitalize on …

Argentina And The Philippines: Similar Development Struggles, Jesus Felipe, Matias Vernango

Angelo King Institute for Economic and Business Studies (AKI)

ALTHOUGH the economies of Argentina and the Philippines are very different, the two share structural problems that make both nations’ development a complex process. The election of Javier Milei as the new president elect of Argentina, gives us the opportunity to review the differences and parallels between the two economies.

Milei is a radical libertarian populist economist with authoritarian tendencies. His proposals range from the dangerous in economics (dollarization, closing the Central Bank, a drastic reduction of social spending) and social issues (curtail human rights and democratic advances, loosen gun ownership laws, and the elimination of all those institutions that …

An Analysis Of Capital Flow To Construct An Economic Typology In A Comparative Case Study Of Three Ancient Cities: Third Kingdom Of Ur, New Kingdom Of Thebes, And Classical Athens, Darrell Gremillion

Dissertations

This dissertation adds to the literature on Economic Development through the development of a Typology of Economy applicable to the earliest cities. Understanding the evolution of these early economies is a crucial step in understanding the past to assist in the establishment of policies for the future. This is especially important in the light of the environmental and sustainability challenges facing the globe today.

The cities in the comparative case study include the Third Dynasty of Ur in Mesopotamia, the New Kingdom of Thebes in Egypt, and Classical Athens in Greece. These cities are chosen for the case study for …

Monitoring The Philippine Economy State Of The Economy Report, Mitzie Irene P. Conchada, Lawrence B. Dacuycuy, Jesus Felipe, Desher Edgar Empeño, Brendan Emmanuel A. Miranda

Angelo King Institute for Economic and Business Studies (AKI)

The Philippine economy recovered from the COVID-19 pandemic during 2022. It posted a very high annual growth rate, 7.6%, although this must be understood in the context of a low base. AKI’s State of the Economy Report focuses on three issues in the context of the new Administration’s 8-Point Socioeconomic Agenda and the Philippine Development Plan 2023-2028: growth, inflation, and the fiscal deficit and national debt. Overall, we have a positive view of the economy over the medium and long-term. However, we argue that:

-The focus of economic policy has to shift decisively toward changing the structure of the economy …

Chinese Political Rhetoric And Ideology: Tension And Pretension, Israel Paredes

Honors Theses

This changing nature of the Chinese government’s ideology leads one to believe that its core beliefs are not dogmatic, despite the foundation for their ideology being rooted in specific societal and economic theories. Starting with Mao Zedong to modern day, the Chinese government officials will continue to support the original tenets (and, no doubt, future presidents’ additions to the tenets). However, the interpretation of their ideology over time is fluid and is used to support policies and actions during a political cycle. Chinese political leaders are unlikely to disagree with a past leaders, and will rather use their own interpretation …

Bitcoin Price Dynamics: A Multiple Regression Analysis Of Market Variables, Zachary S. Biedscheid

2023 Symposium

Bitcoin, a decentralized digital currency (property), has gained significant attention recently as a potential alternative to traditional financial systems. This research project aims to explore the market variables of Bitcoin by conducting a multiple regression analysis. The literature review highlights market dynamics and the impact of Bitcoin in economics and finance, specifically in banking and monetary systems. It explores Bitcoin's decentralized nature and limited supply as a more secure and stable form of money, contrasting it with the flaws and inefficiencies of centralized banking systems. The dataset provides information on the Bitcoin market from July 23, 2010, to April 16, …

How Do Economic Conditions Affect How The Environment Is Treated, Hogan Thomas

Honors Projects

This paper focuses on how economic conditions affect how the environment is treated. It creates a correlation between the ease of doing business ranking, human freedom index, economic freedom index, Real GDP growth, inflation, and environmental ranking to see how they impact each other. It also looks into historical changes in environmentalism and finds how the changes correlated with changes in economic conditions.

The Methodology Of Multiple Regressions For Gdp Per Capita For Nations In The World Between 0 Ce And 1940, Robert Rogers

The Journal of Economics and Politics

A reduced-form model of GDP per capita is estimated using the classical econometric method and two Bayesian techniques, Extreme Bounds Analysis (EBA) and Bayesian Analysis of Classical Estimation (BACE) for the two millenniums. For several variables, such as the impact of colonialism, the Goldstone hypothesis of efflorescence increasing economic growth, and the impact of technology, this paper lends support, especially when the Bayesian methods are applied. Other results are mixed. Generally, the results support use of Bayesian methods by eliminating hypotheses that are not consistently supported over all models.

Uncovering The Effects Of The Freedman's Bank Failure On Personal Property: An Analysis Of Newly Obtained Data From Kentucky And Georgia, Hannah Fowler

Scripps Senior Theses

The Freedman's Savings and Trust Company (the Freedman’s Bank), collapsed in 1874, resulting in the loss of savings for many African American depositors. This study uses a difference-in-difference analysis to investigate the impact of the closure of the Freedman's Bank on the economic well-being of African American taxpayers in Georgia and Kentucky during the Reconstruction era. The analysis did not identify a statistically significant treatment effect; however, it highlights the potential of previously unused archival data sources for future research. The study also draws attention to the need for more comprehensive and rigorous research in this area, in order to …

Finding Answers In Gaps: The Relationship Between Drugs And Mexico's Economy, Mariela Centeno

CMC Senior Theses

This paper sets out to understand the economic conditions that paved the way for the evolution and resilience of a powerful and resilient drug economy in Mexico. To do this, I examine the relationship between a proxy for drug movement from Mexico and large economic variables in the country. I use a dataset that incorporates the drug seizures from 1997 to 2022 to understand whether privatization and the resulting rising economic inequalities in Mexico paved the way for a growing drug economy. This paper builds on current literature regarding drug market estimates and drug economy interactions. Using an OLS regression …

Lessons Learned: Gaurav Vasisht, Sandra Ward

Journal of Financial Crises

Gaurav Vasisht served as assistant counsel, banking and financial services, to the governor of New York during the Global Financial Crisis of 2007–2009 (GFC). In his role, Vasisht set the governor’s agenda for banking and financial policy and oversaw the regulatory and legislative priorities of the state banking and insurance departments. Vasisht played a pivotal role in developing and drafting consumer protection legislation, particularly as it related to housing foreclosures at the time of the crisis. This Lessons Learned is based on an interview with Vasisht that occurred on September 27, 2019.

Lessons Learned: Kevin Stiroh, Mercedes Cardona

Journal of Financial Crises

Kevin Stiroh was head of the Financial Sector Analysis Supervision Group at the Federal Reserve Bank of New York (FRBNY) during the Global Financial Crisis of 2007–2009 (GFC). At the FRBNY, Stiroh was a leader in the design of the “stress test” for the banking system, the Supervisory Capital Assessment Program (SCAP). In the aftermath of the GFC, members of the FRBNY, including Stiroh, drafted a report on systemic risk and bank supervision, laying out lessons learned from the crisis and their recommendations. In February 2021, Stiroh transitioned from the FRBNY to a leadership position with the Federal Reserve Board …

Lessons Learned: Veerathai Santiprabhob, Maryann Haggerty

Journal of Financial Crises

Veerathai Santiprabhob was the governor of the Bank of Thailand from 2015 to 2020, a period that included the onset of the COVID-19 pandemic. Earlier in his career, he was an economist at the International Monetary Fund. At the time of the 1997–1998 Asian Financial Crisis, he returned to his home country to take a position at the Ministry of Finance. There, he was involved with the government response to that financial crisis. From 2000 to 2015, he held private-sector finance jobs before going to lead the Bank of Thailand. This Lessons Learned is based on an interview with Santiprabhob …

Lessons Learned: Erik Sirri, Mercedes Cardona

Journal of Financial Crises

Erik Sirri served as director of the Division of Trading and Markets at the US Securities and Exchange Commission (SEC) from 2006 to 2009. In his post, he was responsible for matters relating to the regulation of stock and option exchanges, national securities associations, brokers-dealers, clearing agencies, transfer agents, and credit rating agencies. Before joining the SEC in 1996, he was an assistant professor of finance at the Harvard Business School from 1989 to 1995. Sirri served as the SEC’s chief economist until 1999, before returning to academia. He is currently a professor of finance at Babson College. His research …

Lessons Learned: Claudia Sahm, Mercedes Cardona

Journal of Financial Crises

Claudia Sahm was a principal economist in the Division of Research and Statistics of the Board of Governors of the Federal Reserve System from 2007 to 2017 and section chief for the Consumer & Community Development section in the Division of Consumer and Community Affairs from 2017 to 2019. Her work focused on macro forecasting; she also researched household behavior and responses to fiscal stimulus. While at the Fed, she proposed the Sahm Rule, a gauge to call the start of a recession, based on an average of the unemployment rate. The rule is part of Sahm’s work on the …

Lessons Learned: Hiroshi Nakaso, Maryann Haggerty

Journal of Financial Crises

Hiroshi Nakaso joined the Bank of Japan (BOJ) in 1978, rising to deputy governor in 2013. He was instrumental in addressing Japan’s domestic crisis of 1997 and its response to the Global Financial Crisis (GFC). He retired from the bank in 2018 and has since served as chairman of the Daiwa Institute of Research in Tokyo. This Lessons Learned summary is based on a November 2021 interview with Nakaso