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Articles 1 - 30 of 38
Full-Text Articles in Growth and Development
The Gettysburg Economic Review, Volume 12, Spring 2023
The Gettysburg Economic Review, Volume 12, Spring 2023
Gettysburg Economic Review
No abstract provided.
Up In Smoke: Wildfires And Economic Growth, Nicholas Silvis
Up In Smoke: Wildfires And Economic Growth, Nicholas Silvis
Gettysburg Economic Review
Do wildfires have a causal effect on economic development? Using satellite data, I analyze every country's exposure to wildfire exposure from 1982-2018. I use synthetic controls to model the impact of wildfire exposure on GDP per capita having controlled for population density, trade, agriculture, Foreign Direct Investment (FDI), and polity score. I find that the impacts of wildfires are fairly localized, impacting parts of Africa that both experience high numbers of wildfires and are developing.
Unparalleled Opportunities Or Unmitigated Risk? Economic Globalization And Its Impact On State Capacity In The Developing World, John M. Zak
Student Publications
Economic globalization is a phenomenon driving major developments in the international system. With the force of this phenomenon shaping events within states and interactions among them, the question of economic globalization’s impact on state capacity is worthy of an in-depth analysis. In this work I use economic globalization as the central explanatory variable and state capacity as the dependent variable and seek to establish an empirical relationship between the two that will offer the social science community a better understanding of how this phenomenon is shaping state capacity in developing countries. Based on available scholarship, I argue that economic globalization …
Are Price-Earnings Ratios Mean Reverting? An Empirical Study, Kevin Klassen
Are Price-Earnings Ratios Mean Reverting? An Empirical Study, Kevin Klassen
Gettysburg Economic Review
Mean reversion in stock prices is a highly studied area in the financial literature with controversial findings. While some economists have found evidence of mean reverting processes in stock prices, many argue in favor of the Efficient Market Hypothesis which states stock prices are random walk processes. This paper seeks to add to the literature on mean reversion but testing for evidence in price-earnings ratios rather than stock prices. The study employs a robust regression model controlling for company-specific and general market factors that influence price-earnings ratio deviations. After correcting for heteroskedasticity, serial correlation, and unit root processes, the results …
Blockchain Technology - China's Bid To High Long-Run Growth, Tyler J. Mann
Blockchain Technology - China's Bid To High Long-Run Growth, Tyler J. Mann
Gettysburg Economic Review
Despite having the second largest economy at $13 trillion, China has only recently surpassed the World Bank’s definition of the ‘middle-income range’ which is a gross national income per capita between $1,000 to $12,000 (constant 2011 international $). This is a noteworthy accomplishment since many other developing nations have fallen victim to economic stagnation within this range leading to the term “middle-income trap”. This paper will argue that one of the ways in which China escaped the middle-income trap and will continue to grow its economic influence is through the support of blockchain technology. Research and development, early technological adoption …
Did Dr-Cafta Affect The Exports Of The Dominican Republic To The United States?, Maria Ivanova Reyes Peguero, Asger V. Hansen
Did Dr-Cafta Affect The Exports Of The Dominican Republic To The United States?, Maria Ivanova Reyes Peguero, Asger V. Hansen
Economics Faculty Publications
This article evaluates the impact the Dominican Republic and Central America Free Trade Agreement (DR-CAFTA) had on the exports of the Dominican Republic (DR) to the United States. We estimate a gravity model for the DR exports to the 109 trade partners of the country from 1990 to 2014. This model quantifies the effect of the DR-CAFTA since 2007, when the agreement was ratified, and finds that the DR-CAFTA negatively affected DR exports to the US. We conduct further analysis of factors that could explain the decline in exports, in spite of the ratification of the agreement. We find that …
‘Community Of Schools’: A Case Study Of Development, Participation And Integration In Cato Manor Township, South Africa, Anthony L. Wagner
‘Community Of Schools’: A Case Study Of Development, Participation And Integration In Cato Manor Township, South Africa, Anthony L. Wagner
Student Publications
By the end of the twentieth century, a subfield of anthropology known as critical development studies emerged - in large part due to the work of James Ferguson and Arturo Escobar - as a critique of post-colonial development programs and NGOs of the West that were at work in much of the developing world - most notably sub-Saharan Africa. Development was largely panned by these early researchers as a means by which Western powers habituated problems in the developing world so as to create a profitable industry of development. Contemporary anthropological inquiries have called for an increasingly field-based approach to …
Human Migration And Health: A Case Study Of The Chinese Rural-To-Urban Migrant Population, Leah C. Pinckney
Human Migration And Health: A Case Study Of The Chinese Rural-To-Urban Migrant Population, Leah C. Pinckney
Student Publications
Human migration is a complex, ancient process driven by a variety of social, political, and economic factors. Modern migrants and their families are often compelled to migrate voluntarily in pursuit of new opportunities for study or work and, in extreme circumstances, involuntarily for safety and survival. Chinese domestic migrant populations were mobilized with China’s early 1980s economic reform, which enabled rapid economic development largely dependent on urban factories. While this massive influx of young people predominantly from rural locales to urban locales seeking opportunity enabled China’s rise as a world power, their move not only marked changing internal labor patterns …
The Economics Of Refugees: How Refugees Influence The Economies Of Spain And England, Mary K. Bovard
The Economics Of Refugees: How Refugees Influence The Economies Of Spain And England, Mary K. Bovard
Student Publications
The economic impact of refugee movements is a topic disputed throughout the world, but even more highly disputed in the European Union. In this last Syrian refugee movement, we have heard many different interpretations of how the movement would affect the European economy. Whether based on factual data or speculation, this paper aims to unpack several of the main economic arguments for and against the movement of refugees into European countries, particularly Spain and England. This paper argues that the perceived economic impacts of the refugee movement in Europe does not match the measured economic impacts.
The Impact Of Aid On The Economic Growth Of Developing Countries (Ldcs) In Sub-Saharan Africa, Maurice W. Phiri
The Impact Of Aid On The Economic Growth Of Developing Countries (Ldcs) In Sub-Saharan Africa, Maurice W. Phiri
Gettysburg Economic Review
Least Developed Countries (LDCs) of Sub-Saharan African have been recipients of official development assistance for more than 5 decades; however they are still characterized by chronic problems of poverty, low living standards and weak economic growth. The hot question is: Is aid effective in promoting economic growth? Thus, this paper investigates the impact of aid on the economic growth of 12 least developed countries in Sub-Saharan Africa over a period of 20 years. I take a fixed effects instrumental variable approach and the results imply that aid has a statistically insignificant negative impact on economic growth. I therefore conclude that …
The Gettysburg Economic Review, Volume 10, Spring 2017
The Gettysburg Economic Review, Volume 10, Spring 2017
Gettysburg Economic Review
No abstract provided.
The Rise Of Technology And Its Influence On Labor Market Outcomes, Maja K. Thomas
The Rise Of Technology And Its Influence On Labor Market Outcomes, Maja K. Thomas
Gettysburg Economic Review
Technological progress has significantly changed the inputs and production processes utilized by firms. Such shifts have led to warnings throughout the past few decades that substantial numbers of jobs, particularly things belonging to the middle class, would be eliminated and replaced by technology. This paper examines the validity of this argument by estimating the impact of technology investment on local labor markets during that period. I find evidence for a positive, rather than negative, relationship between technology and employment. Furthermore, my estimates suggest there exists a complementary relationship between technology investment and growth in labor opportunities, rather than a substitution …
Is There A Path For Green Growth? Evidence From India, Thuc Anh Thi Trinh
Is There A Path For Green Growth? Evidence From India, Thuc Anh Thi Trinh
Gettysburg Economic Review
This paper uses historical temperature fluctuations in India to identify its effects on economic growth rates. Using a climate-adjusted form of the Solow growth model, I find that one degree Celsius increase in temperature decreases GDP per capita growth by 0.71%. This finding informs debates over the role of climate on economic development and suggests the possibility of a green path for economic growth, a policy agenda that is both sustainable and pro-growth.
The Nazi Fiscal Cliff: Unsustainable Financial Practices Before World War Ii, Parker Abt
The Nazi Fiscal Cliff: Unsustainable Financial Practices Before World War Ii, Parker Abt
The Gettysburg Historical Journal
The Nazis inherited a weak economy, withered by the Great Depression and periods of hyperinflation, when they took power in 1933. Over the next six years, primarily through a military buildup, the Nazi economy grew like none other in the world. This paper traces the methods the Nazis used to finance this economic rebound. Through an analysis of secret government documents, Nuremburg witness statements, and the latest scholarly research, this paper posits that the methods used to finance the economy were unsustainable. Further, it finds that by September 1939, the economy was in a state of dangerous disarray.
La Influencia Del Mercado En La Crianza De Alpacas En Las Comunidades Alto Andinas De Pucará, Jessica Casale
La Influencia Del Mercado En La Crianza De Alpacas En Las Comunidades Alto Andinas De Pucará, Jessica Casale
Student Publications
Using a social-anthropological approach, through first-hand experiences living in the field and speaking with the subjects of this study, this paper investigates how the global economic market of alpaca wool has had effect on the traditional cultural practices of alpaca herders in the high Andean communities of Pucará, Peru. The results reveal a loss of traditional Andean herder’s practices and beliefs in the face of modernization, the inequality and exploitation within the wool market, and the influence of western economic ideologies. To preserve cultural practices and enhance the conditions of an alpaca herder, I suggest educating the communities on more …
The Gettysburg Economic Review, Volume 9, Spring 2016
The Gettysburg Economic Review, Volume 9, Spring 2016
Gettysburg Economic Review
No abstract provided.
Negative Interest Rates: Analyses Abroad And Their Applicability To The U.S. Economy, Danielle Cupp
Negative Interest Rates: Analyses Abroad And Their Applicability To The U.S. Economy, Danielle Cupp
Gettysburg Economic Review
The twenty-first century has thus far posed some of the most difficult economic challenges for policy makers that the world has ever seen. The most recent recession, the Global Financial Crisis of 2007-8, is considered the worst economic downturn in recent history. In light of unique challenges such as the recession, central banks around the world are coming up with new tools or new ways of thinking about tools in order to mediate financial crises. This paper investigates the possibility of eliminating the zero lower bound on nominal interest rates to stimulate the economy in reaction to severe financial crises. …
Flooding In The Kashmir Valley: Macroeconomic Effects Of A Natural Disaster In India, Danielle Cupp
Flooding In The Kashmir Valley: Macroeconomic Effects Of A Natural Disaster In India, Danielle Cupp
Gettysburg Economic Review
This paper presents India’s economic growth by comparing it to that of the United States. In addition, this paper analyzes current events in India under a macroeconomic lens as it provides the macroeconomic impacts of said events. More specifically, this paper focuses on the ways in which unexpected severe flooding have impacted Northern India in the short-, medium-, and long-run. Analyses conclude with policy recommendations based on the goals of India’s central bank, the Reserve Bank of India (RBI).
2014 Fed Challenge Script: Current State Of The Economy, Jieran Liu, William W. Northrop, Matthew Nadler, Owen J. Rothe, Ryan M. Williams
2014 Fed Challenge Script: Current State Of The Economy, Jieran Liu, William W. Northrop, Matthew Nadler, Owen J. Rothe, Ryan M. Williams
Gettysburg Economic Review
Good afternoon everyone and thank you for having us here today. Though the recession began in 2007 and officially ended in 2009, recovery has been painfully slow. GDP growth has been insufficient to close the output gap, there continues to be slack in the labor market and inflation has stabilized below the Federal Reserve percent target. We are not meeting our dual mandate of full employment and stable prices even 6 years after the end of the recession. Despite some signs of strengthening in the economy during the past year, we do not believe that economy is on a self-sustaining …
The Gettysburg Economic Review, Volume 8, Spring 2015
The Gettysburg Economic Review, Volume 8, Spring 2015
Gettysburg Economic Review
No abstract provided.
Nominal Gdp Targeting: A Policy Recommendation To Meet The Fed’S Dual Mandate, R. Shaw Bridges
Nominal Gdp Targeting: A Policy Recommendation To Meet The Fed’S Dual Mandate, R. Shaw Bridges
Gettysburg Economic Review
This paper was written in early December 2014 in response to the Federal Reserve Challenge Team’s argument for a regime change in the Federal Reserve to nominal GDP targeting as the appropriate policy to return the U.S. economy to long-term sustainable economic growth. After the 2007 recession, the FOMC took extraordinary measures to minimize the collateral damage caused by bank balance sheets weighed down with mortgage-backed securities and other below-investment grade assets. The periodic “stress tests” and use of emergency lending facilities were historically unprecedented, however, the economy six years later was still growing slowly in part due to market …
Price Barriers In The Stock Market And Their Effect On The Black-Scholes Option Pricing Model, Nathan A. Blyler
Price Barriers In The Stock Market And Their Effect On The Black-Scholes Option Pricing Model, Nathan A. Blyler
Gettysburg Economic Review
The predicted price of an American option by the Black-Scholes (B-S) Option Pricing Model is known to differ from the market price of that option systematically with respect to time to expiration, distance in- or out-of-the-money, and liquidity of the option. We examine the possibility of price barriers in the stock market causing further systemic pricing differences between the market price and B-S predicted price. These differences occur when an option’s strike price is near a price barrier and differ in effect and significance depending on the position of the barrier relative to the underlying stocks’ price. We find round …
The Gettysburg Economic Review, Volume 7, Spring 2013
The Gettysburg Economic Review, Volume 7, Spring 2013
Gettysburg Economic Review
No abstract provided.
The Gettysburg Economic Review, Volume 6, Spring 2012
The Gettysburg Economic Review, Volume 6, Spring 2012
Gettysburg Economic Review
No abstract provided.
The Rise Of American Industrial And Financial Corporations, Elizabeth A. Laughlin
The Rise Of American Industrial And Financial Corporations, Elizabeth A. Laughlin
Gettysburg Economic Review
This paper identifies and analyzes the steps the United States took in its progression to an industrial nation. Launched by the merger movement in the late nineteenth century, vertical and horizontal integration lead to trusts and monopolies in a number of industries. Simultaneously, the labor market was undergoing a number of reforms with the deskilling of workers. The rise of big business was made possible through the growth of the financial sectors and companies such as J.P Morgan. The case study of The Standard Oil Co. highlights the wealth and power that robber barons such as J.D. Rockefeller held during …
The Gettysburg Economic Review, Volume 5, 2011
The Gettysburg Economic Review, Volume 5, 2011
Gettysburg Economic Review
No abstract provided.
"Does It Pay To Be Informed?" Expenditure Efficiency In The Us Mutual Fund Industry, Jan Cerny
"Does It Pay To Be Informed?" Expenditure Efficiency In The Us Mutual Fund Industry, Jan Cerny
Gettysburg Economic Review
The mutual fund industry would like us to believe that fund expenses are justifiable by their extensive management expertise, security analysis and the consequent delivery of returns that exceed the market performance. Management know-how is costly and thus it drives up the expenditure of actively managed mutual funds and potentially lowers their net returns. Nevertheless the fund managers argue that their contributions to the returns fully outweigh their costs and in general their trading strategies add value to the investors. On the other hand many academics hold that such claims are fundamentally misleading and actively managed funds cannot continuously outperform …
The Trend Of The Gender Wage Gap Over The Business Cycle, Nicholas J. Finio
The Trend Of The Gender Wage Gap Over The Business Cycle, Nicholas J. Finio
Gettysburg Economic Review
Even after the close of the first decade of the 21st century, there is still significant gender bias in labor market composition and compensation. As the events of the last two years have proven, even drastic efforts of monetary and fiscal policy have not tamed the business cycle. Previous research has reached no definite conclusions on the effect of business cycle trends on the gender wage gap. Over the period from 1979:1 to 2009:3, it is found that increases in the growth rate of GDP yield decreases in women‘s earnings relative to men‘s, and it is also found that increases …
The Gettysburg Economic Review, Volume 4, Spring 2010
The Gettysburg Economic Review, Volume 4, Spring 2010
Gettysburg Economic Review
No abstract provided.
Globalization And Economic Growth In Sub-Saharan Africa, Hadiatou Barry
Globalization And Economic Growth In Sub-Saharan Africa, Hadiatou Barry
Gettysburg Economic Review
This study analyzes Sub-Saharan Africa through the framework of globalization. The study‘s objective is to determine whether globalization is a significant factor when associated with economic growth in the region. Using panel data from 1995-2005 for 41 countries and the KOF globalization index, an Ordinary Least Squares (OLS) model was employed to examine the relationship between globalization and other traditional factors of economic growth such as trade, foreign direct investment, loans, aid, natural resources, corruption, and rule of law. The study shows that globalization has a positive, though statistically insignificant impact on the economic growth of Sub-Saharan Africa. However, globalization …