International Economics Commons^™

Essays On Public Finance And International Finance, Deepti Sikri

Electronic Theses & Dissertations (2024 - present)

The first chapter examines New York State's Fiscal Score Monitoring program to find the effect of two quality labels on school district outcomes: fiscal stress scores, reflecting the budget solvency, and environmental stress labels reflecting economic and demographic conditions. Using the NYS school district data from 2013-22, I employ the regression discontinuity design to find the effect of stress labels, in response to the political pressure on district finances, housing, and school outcomes. I find the effect of fiscal stress label is limited, leading to a decrease in the fund balance ratio and an increase in the tax rate. However, …

No More Empty Stadiums: A Meta Analysis Of Mega Sporting Events And Their Economic Impact, Tayte O. Gleason

Honors Thesis

Mega sporting events have faced increased scrutiny in recent decades for their negative economic impacts, externalities, and environmental effects. As multimillion dollar stadiums lay abandoned and future host city bids are withdrawn as public opinion on mega sporting events worsens with time, economists, governing bodies, and sports fans worry about the future locations of these massive sports festivals. In my thesis, I will conduct a meta analysis of articles measuring the various impacts and effects of hosting a mega sporting event. I will begin by performing an extensive literature review of the various factors contributing to a mega sporting event’s …

Vietnam’S Gdp: Re-Assessing Growth Rate And Identifying An Alternative Indicator, My Linh D. Nguyen

Honors Theses

Since the economic reform known as Doi Moi (Renovation) in 1986, Vietnam has changed from one of the world’s poorest to a middle-income country in one generation (USAID, 2022). The country has consistently registered high and stable economic growth since the reform, averaging 6.3% from 1985 to 2021 (World Bank, 2022). High growth rate of gross domestic product (GDP) is good news, but it has also raised questions that go both ways. On one side, there is much speculation that the government of Vietnam has manipulated economic statistics, compared to the case of China and India. As quoted in Kinh …

Asymmetric Effects In Geopolitical Risk And Foreign Reserves Accumulation Among Brics Countries, Kwame O. Asomaning

Doctoral Dissertations (DBA)

Over the past decade, the rise of Geopolitical Risk (GPR) has had a significant effect on macro financial variables, prompting central banks to accumulate reserves as a "war chest" to protect their economies from the detrimental effects of such shocks. This study examines the asymmetries in the long run, short run, and locational asymmetric effects on foreign reserves in the BRICS countries, using both the Nonlinear ARDL (NARDL) and Quantile ARDL (QARDL) models over the period 2000Q1–2021Q4. The results of the NARDL model suggest that GPR has long-run asymmetric effects for BRICS, while in the short run, all countries display …

Impact Of Us-China Trade War On Thailand's Electronic Exports, Chanakarn Permthongchoochai

Chulalongkorn University Theses and Dissertations (Chula ETD)

This paper aims to examine how US-China trade war impacts on Thailand's electronics industry which is important to Thai economy in term of export. The study uses input-output table to show the connection of Thailand's electronics sector with other industry through its participation in global value chain. Moreover, the study uses a Computable General Equilibrium (CGE) model by using the reclassified General Trade Analysis Project (GTAP) database to simulate the results from the set-up scenarios. The results from the simulations show that, overall, Thai economy benefits from US-China trade war in term of both GDP and welfare of the country …

Determinants Of Profitability Of Commercial Bank In Afghanistan, Mohammad Osman Saeedi

Senior Projects Fall 2023

Over the past two decades, the global financial sector, particularly the banking industry, has undergone significant transformations impacting its performance. Recognizing the pivotal role of the financial sector in economic growth, this study focuses on Afghanistan's banking sector, tracing its roots to the establishment of the first commercial banking institution, Bank Millie Afghan, in 1933. Following decades of war, the banking sector experienced revitalization after 2001, marked by the emergence of a new government, international aid inflow, and increased business activities. Despite remarkable growth, Afghanistan's banking sector faces challenges such as security concerns, cultural issues, and a developing banking culture. …

Did Demonetization Have A Bigger Impact On Ppis (Prepaid Payment Instruments) Or Mobile Banking In India?, Ansh Vora

CMC Senior Theses

On November 8, 2016, Narendra Modi, prime minister of India, tele-advertised the entire nation and announced that India's highest value banknotes, the 500 and 1000 rupee “Rs” notes would be demonetized and taken out of circulation, effective midnight. Modi stated that this is an effort to reduce the large economy of black money, transition India into a digital economy, abolish funding of terrorist groups and illicit circulation of counterfeit notes. In this study, I choose to analyze the impact of demonetization on two digital payment methods - Prepaid Payment Instruments, “PPI” and Mobile Banking. The data used in this study …

Southeast Asia & The Hidden Green Revolution: A Study On Foreign Direct Investment In Eco-Investments In Asean, Ravi Chailertborisuth

Undergraduate Honors Theses

This paper aims to find: To what extent foreign direct investment is fueling the renewable energy transition in ASEAN. The year 1966 saw the founding of ASEAN, the Association for Southeast Asian Nations. The five founding member nations were: Indonesia, Malaysia, Philippines, Singapore, and Thailand. Over time, this group of nations grew to include nations such as: Laos, Cambodia, Vietnam, Brunei, and Myanmar. The IGO (inter-governmental organization) aims to foster “economic, social, cultural, technical, educational and other fields” (ASEAN). The IGO is successful, allowing capital to flow cross-borders with more ease, and encourage economic corporation across all nations. Since …

Essays On Spillover Effects Across U.S And China, Zhuo Xi

Dissertations, Theses, and Capstone Projects

Chapter1: With the rapid development and continuous advancement of economic globalization, the links between countries around the world have become increasingly tight. Among them, the United States, as the world's largest economy, its monetary policy is bound to cause significant spillover effects on other economies around the world. By constructing a Threshold SVAR model with monthly data from 1996 to 2019, this paper empirically investigates the spillover effects of US monetary policy on China's economy during different U.S policy regimes. The transmission mechanism of such effects has been tested through different channels including policy channel, trade channel, asset value channel …

Macroeconomic Adjustments Of Global Convergence: Real Exchange Rate Response Of Asia-Pacific Growth, Kumarappan Annamalai

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters.

Chapter 1 : PURCHASING POWER PARITY, REAL EXCHANGE RATE, PRICE LEVEL INDEX and HARROD-BALASSA-SAMUELSON EFFECT: LITERATURE SURVEY

In the light of the concepts explained in the introduction section, this chapter explores the seminal papers on the Purchasing Power Parity principle, the Real Exchange rate, and the Price Level Index, showing the evolution of PPP and the methodologies adopted in exploring the characteristics of PPP and the real exchange rates. Various characteristics might be stationarity or non-stationarity of the real exchange rates (RER), variance, correlation, half-life measures, linearity versus non-linearity, etc. Various methodologies adopted were …

Essays In Monetary And Macroprudential Policies, Mikheil Dvalishvili

Dissertations, Theses, and Capstone Projects

Chapter 1 Using a medium scale general equilibrium New Keynesian business cycle model with macroprudential policy and news shocks I study the effectiveness of various combinations of the monetary and macroprudential policies. I incorporate defaults both in the banking sector and households. The results show that out of the policy strategies considered the standard Taylor rule combined with the LTV requirement that reacts countercyclically to the deviation of house prices from the steady state yields higher welfare as compared with all the other strategies considered. Additionally, the standard Taylor rule combined with either of the countercyclical LTV requirements mitigates the …

Us Financial Expansions And Exchange Rate Determination, Matthew Brill

Electronic Theses and Dissertations

The purpose of this thesis is to explore how US financial activity influences the exchange rates of foreign nations. Starting off by building on Currency Hierarchy and Minskyan dynamics, I look at how financial cycles generated in the US, the key economy, transmit liquidity towards economies on the periphery. Additionally, I use the increase in shadow banking asset accumulation relative to commercial banking asset accumulation as indicative of financial expansions in the US, and the driving force of financial cycles. Using vector autoregression (VAR) analysis I test the relationships between the ratio of US shadow banking assets relative to commercial …

Fdi Spillover Channels On Chinese Provincial Economic Growth, Yiqing Wang

Chulalongkorn University Theses and Dissertations (Chula ETD)

China has been opened to the world over several years and make great success in economic growth. Most of the previous literatures have analyzed the determinants of economic growth and the effect of FDI on economic growth in China. However, seldom of them analyze the relationship of FDI and its spillover effect on economic growth through R&D and human capital channels using provincial data. The study employs provincial panel data during period 2006-2018 to estimate the relationship of FDI, FDI spillover from R&D and human capital, R&D, and human capital on economic growth under the consideration of Special economic Zone …

Reflexiones Teóricas Sobre Las Políticas En Materia De La Inversión Extranjera Durante El Gobierno De Álvaro Uribe Vélez 2002-2006 Aciertos, Desaciertos Y Aprendizajes., Gerardo Andres Duran Flórez, Daniel Stivent Riscanevo Tovar

Negocios y Relaciones Internacionales

El desarrollo económico de Colombia en las dos últimas décadas evidencia un protagonismo en la lucha contra del terrorismo y el tráfico de estupefacientes. Sin embargo, paralelamente se demuestra la implementación de medidas económicas y comerciales hacia una adecuada inserción internacional mediante la ampliación de la inversión extranjera directa. Por lo tanto, en este documento se analizan los alcances en términos de aciertos, desaciertos y lecciones aprendidas sobre las políticas y medidas económicas y comerciales en particular de inversión extranjera directa (IED) en Colombia. Así, cabe preguntarse ¿de qué manera las políticas económicas de inversión extranjera directa propuestas en el …

The Catalytic Effect And The Imf: The Relationship Between Capital Inflows And Imf Program Characteristics, Matthew Levinson

Undergraduate Honors Theses

Interventions of the International Monetary Fund (IMF) are believed to impact external capital inflows to recipient countries, which has the potential to amplify the overall effectiveness of IMF programs. However, the true extent of this catalytic effect remains debated. While previous studies have examined the catalytic effect of the IMF at the aggregate level, this research isolates specific types of IMF programs and analyzes their relationship with specific types of financial inflows for a better understanding of the heterogeneity in program effectiveness with respect to the catalytic effect. I find that program type plays a significant role in the strength …

Finance And Economic Performance Across Countries, Monika Islam Khan

Theses and Dissertations--Economics

My dissertation consists of three papers on finance and economic performance across countries. The first paper applies the gravity model of international trade to quantify the impact of the banking sector and the stock market on bilateral trade patterns. Following the study of capital structure, I evaluate the mix of external financing sources used for real investment at the macroeconomic level by differentiating between the relative roles of the banking sector and stock market development in determining trade patterns. Using aggregate bilateral trade data for 87 countries over 1976-2012, I find that stock market development has a substantial impact on …

The Effects Of Imf's Lending And Conditionalities On Economic Growth: Case Of Sadc Countries, Lutete Celina Carlos

Masters Theses

I examine the impact of IMF credit use and its conditions on economic growth performance in 12 South African countries over a period of 1999-2019. The work adopts an empirical and quantitative approach to analyzing the relationship between the GDP per Capita, the use of IMF Credit, Government Final Consumption Expenditure, Net Domestic Credit and Current Account balance. These variables are the most recommended in the IMF conditionalities during the lending arrangements with SADC members. The study uses Fixed-effect approach to evaluate how the use of IMF program and the conditions imposed directly affects economic growth. A dummy variable is …

Trade Financing In Emerging Markets, Jamie L. Morris

Senior Theses

Businesses need capital to initiate trades, drive growth, and produce profit, but unfortunately, not all companies can access to capital easily. Small and medium-sized enterprises (SMEs), although critical to the global economy, typically have trouble funding trades because of a lack of creditworthiness. This problem worsens for SMEs in emerging markets in volatile economies with political instability (“Trade finance and SMEs” 2016, p.11-21). In this study, we analyze how third-party trade finance companies can help finance trades more easily for SMEs in eight (8) emerging markets: Kenya, Rwanda, Ethiopia, Chile, Peru, Thailand, Cambodia, and Indonesia. We use a unique source …

The Sustainability Of Child Protection Services In The Republic Of Kosovo, Shpetim Bylykbashi

Capstone Collection

Today, in Kosovo, are services provided for the children most in need sustainable? Do these services have stable and long-term funding? Did the decentralization of the Kosovo government strengthen or weaken the existing child protective environment? In an attempt to answer these questions, a review of available literature was completed, as well as direct interviews conducted with relevant stakeholders engaged in Kosovo’s child protection services at both the governmental and civil society levels. The main finding of my research is that vulnerable children in Kosovo, such as children without parental care, children with special needs, and child victims of domestic …

Essays On Anomalies In International Equity Markets, Xiao Cheng

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters related to empirical asset pricing in the international stock market.

Chapter 1: "Loss of International Sales and Stock Performance" Using international firm-level data from 1990-2015, I show that when global firms' total international sales drop to zero, this conveys an important signal about future firm operations. An equal-weighted portfolio that sells stocks of firms that completely lost international sales and buys stocks of global firms earns up to 86 basis points per month (over 10% per year). This return predictability cannot be explained by the Fama-French international three- or five-factor models. Further examination suggests …

A Study Of The Benefits And Barriers Of Thai Smes With Bot Policy Supporting Smes, Laksika Junyakhajorn

Chulalongkorn University Theses and Dissertations (Chula ETD)

This qualitative and descriptive study aims to determine from the perspective of SMEs owner towards the policies in order to see the benefits and obstacles of Thai SMEs with BOT policies on supporting SMEs. The in-depth interviews were conducted with 10 SMEs owners in Thailand and some interview questions generating to deeper discussion. The thematic analysis was used to analyze the interviews. The study showed that some company characteristics data i.e., company age, company size, and business sectors had a significant effect on perspectives towards the policies supporting SMEs. However, the demographic characteristics of owner did not relatively affect the …

Does The Policy Rate Have A Significant Effect On The Npl Level Of Smes During The Past 17 Years (2002-2019) In Thailand?, Anekphong Tupan

Chulalongkorn University Theses and Dissertations (Chula ETD)

During the post “Tom Yum Kung Crisis”, the bank of Thailand used monetary policy interest rate as a financial instrument. To keep economic growth and stability by raising, maintaining, or lowering the policy interest rate, under a flexible inflation targeting framework to achieve inflation. The determination of monetary policy interest rate is influencing the cost of SMEs operating through the credit channel. Consequently, the purpose of this research is to explore the relationship between the determination of monetary policy interest rate and Non-performing Loans (NPLs) in the SME sector. The OLS regression is used to analyze the cause and effect …

The Service Quality Affecting Customer Loyalty Toward Food Delivery Service In Thailand, Panuwan Chartchawalitsakul

Chulalongkorn University Theses and Dissertations (Chula ETD)

Over the past five years, the market value of food delivery services business has grown by an average of 10 percent annually. The key player for this market growth is service providers through application. Moreover, the entry of new players has made the market more competitive. Therefore, service providers keep their customers by increasing loyalty with a higher service quality to make customers satisfied and continue to use the service. In consequence, the objective of this study is to examine the impact of service quality on customer loyalty toward food delivery service in Thailand. The study method is quantitative, using …

Marketing And Strategy Analysis: A Case Study Of Pana Coffee Company, Sulida Intarawichien

Chulalongkorn University Theses and Dissertations (Chula ETD)

Coffee business is extremely growth in last few years. Pana coffee company is a brand-new coffee business company. The company has been established for 4 years. There are lots of organization management that company needed to solid and make the strength on to go further in several years. One of the important managements in organization is marketing management which effect on brand and positioning of brand in market. So, the marketing strategies of company needed the improvement to compete and survive in the global growth business. This study aims to analyze organization resources by using SWOT analysis and 5P’s Marketing …

Impact Of Bank Competition On Bank Stability In China, Hanyang Liu

Chulalongkorn University Theses and Dissertations (Chula ETD)

This study investigates the impact of bank competition on bank stability of China over the 2006–2019 period. We use unbalanced panel data from 38 Chinese commercial banks. We employ the natural logarithm of the Z-score to measure bank stability, and the NPL ratio to measure bank credit risk. Meanwhile, the competition was measured through Panzar-Rosse H-statistic. The study uses both the linear and non-linear regression models and investigates effect of the interest rate liberalization in China. The results show that the degree of bank competition in China is on a rise trend. More competition has caused a decrease in stability …

Factors Influencing The Foreign Direct Investmet Inflow In Tourism Industry In Thailand, Pitchapa Tubtimtong

Chulalongkorn University Theses and Dissertations (Chula ETD)

Tourism industry has been considered as an important part of the Thai economy since tourism helps support many tourism businesses, increase employment, and compensate for other industries presenting weak growth, which will generate high income for Thailand continuously. This paper employs multiple regression by using Ordinary Least Squares (OLS) method to investigate factors influencing Foreign Direct Investment (FDI) inflows in tourism industry in Thailand over the period 2000 - 2019, especially the effect of tourism- induced factors on FDI inflows including growth of tourism industry, tourism average spending, and tourism demand volume. Quarterly data using in this paper is based …

Determinants Of Cross-Border Mergers And Acquisitions Of Firms In Thailand, Pongpak Weerakiet

Chulalongkorn University Theses and Dissertations (Chula ETD)

In this paper, we evaluate the effects of firm-level and country-level variables on the firms' probability of having cross-border M&A deals and the size of the deals. Our sample consists of 87 firms from SET100 Index (firms from financial industry are excluded), and the data between 2009 to 2018 is used in this paper. The results indicate that the increase in ownership advantages of the firms, namely, size and profitability raise the chance of the firms having cross-border M&A deals and the size of the deals. For country-level variables, the results agree with the gravity model that an increase in …

The Impact Of Internet Finance On The Profitability Of Commercial Banks In China, Yuting Song

Chulalongkorn University Theses and Dissertations (Chula ETD)

Several studies analyzed the impact of internet finance on the profitability of Chinese commercial banks. This paper adds to the literature by focusing on two types of internet finance, internal internet finance (online banking) and external internet finance (third-party-payment (TPP) and peer-to-peer lending (P2P) platforms), and their relationship with bank performance. Two datasets that cover the years 2011 to 2018 are used for the regression analyses, a balanced panel dataset of 10 banks to analyze the impact of internal and external internet finance on bank performance and an unbalanced panel dataset of a larger sample of 43 banks to further …

The Effect Of Bank Competition On Bank Stability In Thailand, Kamolwan Yamploy

Chulalongkorn University Theses and Dissertations (Chula ETD)

This research studies the impact of competition on bank stabilities, which are capital adequacy, non-performing loans ratio, interest income risk, and non-interest income risk. Lerner index is used to proxy degree of non-structural bank competition. We use data on 11 Thai commercial banks from the year 2010 to 2018 and employ Panel Least Square regression. Our results show that banks with higher market power tend to have lower risk lending behaviors. As a result, this allows them to have lower level of capital and higher level of risk in non-interest income activities. On the other hand, higher concentration ratio 5, …

Toward A More Universal Currency: The Impact Of The Clearing Mechanism On Developing Economies, Evan Ross Kaderbeck

Applied Economics Theses

Toward a More Universal Currency:

The Impact of the Clearing Mechanism on Developing Economies

As part of a broader plan to reform the system of international finance, experts have indicated the need to modify the system of international money. They point to problems such as the difficulties faced by developing countries in obtaining hard currency needed for imports, or the flows of hot money which make the financing of long-term development projects difficult. Some have called for a form of universal currency, used only in international trade. Developing nations especially need access to a clearing mechanism which would eliminate the …