International Economics Commons^™

The Causality Between Budget Deficits And Interest Rates In Asean Countries, Janhavi Nerurkar

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the correlation between budget deficits and interest rates across countries of varying income levels across Southeast Asia using the Granger-causality econometric model. It consists of a time series analysis of budget deficits (local currency unit) and real interest rates in Indonesia, Malaysia, Thailand, the Philippines and Singapore from 1990 to 2011.This analysis concludes that budget deficits and interest rates do not cause one another in the countries under consideration.

The Effect Of Macroeconomic Variables On Domestic Homeownership Rates, Patrick Graydon

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates how various macroeconomic variables affect homeownership rates in the United States. Some of the variables explored in this study include interest rates, unemployment rate, average household income, inflation rate, GDP, population, and residential construction. The paper uses quarterly data from quarter one of 2000 to quarter three of 2012. The results show the economic indicators that are closely correlated with the rate of homeownership.

An Empirical Study Of Salary Discrimination In Professional Basketball, Joshua Reynolds

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the racial differences in salaries amongst professional basketball players during the 2011-2012 season. Prior studies from the 1980s and 1990s show that white and black players have earned a comparable mean salary, based on performance variables and other player characteristics. However these studies have shown, that taking race in as a factor when running regressions of the data, preference exists towards white player salaries. This paper looks to see if the recent shift in demographic makeup of the NBA prevalent during the late 1990s and 2000s has led to a more equitable distribution of salaries based on …

Education And Wellbeing Of A Country, Michael Arons

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines education, employment sectors and GDP per capita. The study examines which aspects of education math, reading, or science is more important to an economy, and how they affect different employment sectors. The model will attempt to show if educational subject scores have an impact in different sectors of the economy. The main function of this model is to decipher how education affects the wellbeing of a country. The results will attempt to discern whether education impacts employment in various sectors, and conversely GDP per capita.

The Relationship Between The Stock Market And Economic Indicators: Evidence From Singapore And Hong Kong, Kahini Dalal

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines the relationship between the stock markets and economic variables of the selected countries: Singapore and Hong Kong. The quarterly data collected for Gross Domestic Product, Foreign Exchange Rates, Inflation and Current Account Balance, as well as Stock Prices ranges from January 2002 to December 2012. The analysis is focused on the results of the Cointegration and Granger Causality tests to estimate the relationship of the various economic indicators and the stock market indices. This estimation enables to assess whether the stock market index of the respective country is a good representation of the economic health of the …

Institutional Quality, Income Inequality, And Economic Growth In Latin American Countries, Courtney Pomer

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the possibility of the institutional quality of a country having an effect on income inequality and economic growth in Latin American Countries. The study incorporates the gini variable and growth rates of GDP in each country to examine the influence of corruption on the various countries throughout Latin America. Looking at previous research it has been found that corruption is positively correlated with income inequality and negatively correlated with economic growth. The variable for corruption in this study however measures the control of corruption in each country, so we will be looking at the institutional quality and …

Poverty In Agrarian Developing Economies, Minh Dao

Faculty Research and Creative Activity

This paper examines the determinants of poverty in agrarian developing economies. Based on data from the World Bank and a sample of thirty agrarian developing economies we find that the fraction of the population below the national poverty line is linearly dependent on urbanization as measured by the fraction of the total population living in urban areas, the maternal mortality ratio, the level of development as measured by purchasing power parity per capita gross national income, and the fraction of births attended by skilled health staff. We observe that the coefficient estimate of one explanatory variable, namely, the fraction of …

The Role Of Policy Fundamentals In Fostering Economic Growth In Developing Countries, Minh Dao

Faculty Research and Creative Activity

This paper examines the role of policy fundamentals in fostering economic growth in developing countries. Based on data from the World Bank for the 2000-2011 period and a sample of sixty-two developing economies we find that the growth rate of per capita GDP is dependent on a country’s investments in human capital as measured by the share of the public sector in total health expenditure and by the relative size of public education in the government’s budget, on an enabling business environment as measured by two Doing Business indicators, namely the cost of starting a business as a percent of …

Poverty In Agrarian Developing Economies, Minh Dao

Faculty Research and Creative Activity

This paper examines the determinants of poverty in agrarian developing economies. Based on data from the World Bank and a sample of thirty agrarian developing economies we find that the fraction of the population below the national poverty line is linearly dependent on urbanization as measured by the fraction of the total population living in urban areas, the maternal mortality ratio, the level of development as measured by purchasing power parity per capita gross national income, and the fraction of births attended by skilled health staff. We observe that the coefficient estimate of one explanatory variable, namely, the fraction of …

Pitfalls In Brazilian Bankruptcy Law For International Bond Investors, Jeffrey M. Anapolsky, Jessica F. Woods

Journal of Business & Technology Law

No abstract provided.

Measurement Of The Effect Of Policy Changes On Volatility In Dairy Markets1, Eoin Kelly, Declan O'Connor, Michael Keane

Irish Business Journal

Volatility in dairy commodity markets has become a major concern for many in the dairy supply chain and is likely to remain so in the future. Changes to the Common Agricultural Policy (CAP) over the past decade have more closely aligned EU and World prices and their associated volatilities. The aim of this paper is to measure volatility at farm level in Ireland over time, identify possible reasons for the increased volatility and identify ways of reducing volatility. Statistical measures such as coefficient of variation (CV) and annualised standard deviation are used to provide measures of past volatility and its …

Borderplex Economic Outlook: 2013-2015, Thomas M. Fullerton Jr., Adam G. Walke

Departmental Papers (E & F)

No abstract provided.

A Book Review Of Capitalist Manifesto: Understanding The Market Economy And Defending Liberty, Brad Ward

Journal for the Advancement of Developing Economies

The purpose of this paper is to review the book A Capitalist Manifesto: Understanding the Market Economy and Defending Liberty by Gary Wolfram. In a time of political unrest throughout the industrialized and developing world, Wolfram defends the free market economic system and educates the reader as to the various benefits of capitalism. According to the author, governments should create concise laws and regulations that allow individuals to pursue their ambitions without unnecessary interference. Wealth redistribution, a trait associated with socialism, leads to stagnant economies and minimal innovations. The roles that banks and the government play in the economy are …

Multinational Enterprise Entry Modes In Sub-Saharan Africa: An Eclectic Paradigm Perspective, Isaac Yao Addae, Martinez Vencia Addae

Journal for the Advancement of Developing Economies

The use of entry modes by multinational firms has received increased attention from international business scholars. Based on the context of sub-Saharan Africa, this research reviews the locational benefits offered to MNEs by in this region. Borrowing from the eclectic paradigm of international production, the research also examines the effects of each type of entry on the locational advantages offered to MNEs. Propositions are presented to suggest which mode of entry MNEs should pursue in African markets, based on the existence of locational advantages that complement existing firm-specific advantages. Practical and research implications are discussed, in addition to considerations for …

Exchange Rate Volatility And Foreign Direct Investment In Sub-Saharan Africa, Emmanuel Ekow Asmah, Francis Kwaw Andoh

Journal for the Advancement of Developing Economies

Foreign Direct Investment (FDI) is an important source of financing development. It enhances efficiency and raises skills of local manpower, facilitates transfer of technology, generates employment and promotes productivity resulting in broad welfare improvements. Although FDI could have a substantial impact on the growth of African economies, poverty reduction and the achievement of various dimensions of human development as articulated in the Millennium Development Goals, its flows to Africa, though growing steadily have been relatively low, volatile, and highly concentrated in a few countries. One of the factors that have been identified in the literature as key drivers of FDI …

Determinants Of Savings Rate In Rural Nigeria: A Micro Study Of Kwara State, Oluwakemi Adeola Obayelu

Journal for the Advancement of Developing Economies

The inability of households to save over time has significant influence on the rate of capital accumulation and economic growth in developing countries. In order to understand this trend, this research assesses savings rates and its correlates in rural Kwara state, Nigeria. A multistage sampling procedure was used to obtain data from 120 households. This was then analyzed using two descriptive statistics: the generalized linear model and the Tobit regression model. Results show that majority of the rural households were male-headed (81.0 percent) and combined farming with other non-farming activities (73.5 percent). The Tobit regression model reveals that age squared …

Where Should Europe’S Investment Path Lead?: Reflections On August Reinisch, “Quo Vadis Europe?”, Julie A. Maupin

Faculty Scholarship

Relative to the past policies of its Member States, will the European Union’s new comprehensive international investment policy constitute a step forward, a step backward, or a perpetuation of the status quo? Professor Reinisch’s contribution to this volume opens a wide window on the current state of the debate. His cogent analysis suggests that, at present, all three possibilities remain live ones, although some basic contours of a likely trajectory are beginning to take shape. I use his musings as a springboard to investigate two questions which follow naturally from his. That is, in view of Professor Reinisch’s response to …

Transparency In International Investment Law: The Good, The Bad, And The Murky, Julie A. Maupin

Faculty Scholarship

How transparent is the international investment law regime, and how transparent should it be? Most studies approach these questions from one of two competing premises. One camp maintains that the existing regime is opaque and should be made completely transparent; the other finds the regime sufficiently transparent and worries that any further transparency reforms would undermine the regime’s essential functioning. This paper explores the tenability of these two positions by plumbing the precise contours of transparency as an overarching norm within international investment law. After defining transparency in a manner befitting the decentralized nature of the regime, the paper identifies …

Revisiting Sovereign Bankruptcy, Lee C. Buchheit, Anna Gelpern, Mitu Gulati, Ugo Panizza, Beatrice Weder Di Mauro, Jeromin Zettelmeyer

Faculty Scholarship

Sovereign debt crises occur regularly and often violently. Yet there is no legally and politically recognized procedure for restructuring the debt of bankrupt sovereigns. Procedures of this type have been periodically debated, but so far been rejected, for two main reasons. First, countries have been reluctant to give up power to supranational rules or institutions, and creditors and debtors have felt that there were sufficient instruments for addressing debt crises at hoc. Second, fears that making debt easier to restructure would raise the costs and reduce the amounts of sovereign borrowing in many countries. This was perceived to be against …

An Unexpected Verdict: Exploring The Economic Implications Of An Expanding Chinese Presence In Dakar's Informal Market, Georgina Hurst

Honors Theses

Through examination of literature, statistical analysis, and field research in Dakar, Senegal, this study explores the economic implications of an expanding Chinese presence on Senegalese retailers in the informal market of Dakar, and on Senegalese consumers of cheap goods that shop primarily in this market. Since the early 1990s, a neighborhood of Chinese storefronts selling cheap goods has developed in the Centenaire region of downtown Dakar. The Chinese entrepreneurs, primarily in Dakar for wholesale, have adapted to the demands of low-end Senegalese retailers and consumers, focusing their products on basic necessities, such as clothing, and imitation commodities, such as Islamic …

The G20 And Global Economic Governance During A Protracted Recession, Evren Celik Wiltse

School of American and Global Studies Faculty Publications with a Focus on History, Philosophy, Political Science, and Religion

Thus far, the G20 represents the most significant collective attempt to address the 2008 economic crisis by the world’s largest economies. It is the only global platform that could serve as an institutional panacea for the protracted economic slowdown that has been experienced since 2008. This article analyses the G20 by situating it in the general historical-institutional context of the global economic governance. It compares and contrasts the G20 with the Bretton Woods institutions. Subsequently, some of the most pronounced criticisms of G20 are addressed, including concerns about possible “agenda creep” and the lack of a hegemonic underwriter.

International Trade And Investments In The Philippines: Some Policy Issues And Implications For Further Research, Angelo B. Taningco

Angelo King Institute for Economic and Business Studies (AKI)

The Philippines has embarked on domestic economic reforms and the promotion of regional economic integration and multilateral trade liberalization with the purpose of strengthening international trade and investment. The National Economic and Development Authority (NEDA), in its Philippine Development Plan 2011-2016, has enunciated strategies that aim to improve the competitiveness of the domestic economy’s industrial and services sectors and narrow the country’s infrastructure gaps. In 2007, the Philippines, together with other Association of Southeast Asian Nation (ASEAN) countries adopted the ASEAN Economic Community (AEC) Blueprint, with the countries agreeing to accelerate the transformation of the region to an AEC—a region …

New Silicon Valleys Or A New Species? Commoditization Of Knowledge Work And The Rise Of Knowledge Services Clusters, Stephan Manning

Management and Marketing Faculty Publication Series

This paper explores knowledge services clusters (KSCs) as a distinct and increasingly important form of geographic cluster, in particular in emerging economies: KSCs are defined as geographic concentrations of lower-cost skills serving global demand for increasingly commoditized knowledge services. Based on prior research on clusters and services offshoring, and data from the Offshoring Research Network (ORN), major properties and contingencies of KSC growth are discussed and compared with both high-tech clusters and low-cost manufacturing clusters. Special emphasis is put on the ambivalent effect of commoditization of knowledge work on KSC growth: It is proposed that KSCs attract most projects if …

Financial Inclusion And Natural Disasters, Benjamin L. Collier

Theses and Dissertations--Agricultural Economics

This dissertation explores the implications of natural disaster risk for access to financial services, especially credit. Its results show that disasters can dramatically undermine the ability of financial intermediaries (FIs) to lend after an event, increasing the cost of the disaster and delaying recovery. Moreover, the risk of natural disasters discourages investment in vulnerable regions and economic sectors and so slows economic development. Financial risk transfer mechanisms such as insurance can help maintain lending following an event. While many international development projects have targeted disaster insurance markets to households, managing disaster-related credit risk may be done more effectively through insurance …

Essays On Capital Controls And Exchange Rate Regimes, Yu You

Theses and Dissertations--Economics

This dissertation consists of three essays on capital controls and exchange rate regimes. The first essay, under the background of international monetary policy trilemma, empirically investigates the validity of the proposition that holding the degree of exchange rate stability constant, a decrease in capital mobility through imposition of capital controls will enhance monetary independence. Using a panel dataset covering 88 countries for the 1995-2010 period and system GMM estimation, this paper finds that 1) capital controls help improve a country’s monetary independence; 2) the effectiveness of capital controls depends on the types of assets and the direction of flows they …

Effects Of Global Competitiveness, Human Development, And Corruption On Inward Foreign Direct Investment, Tamilla Curtis, Dawna L. Rhoades, Tom Griffin

Management, Marketing and Operations - Daytona Beach

The purpose of this paper is to investigate which of Dunning's location-specific advantages of host countries, presented as composite indices for Global Competitiveness, Human Development and Corruption Perception, better predict the level of inward Foreign Direct Investment (FDI).

A stepwise multiple regression method was applied on a sample of 129 countries, which was further divided into two subgroups: OECD members and non-OECD members. The study provides evidence that global competitiveness and the level of corruption of the host country are important determinants for inward FDI. For non-OECD countries the Human Development index appears to be an additional FDI determinant. More …

Political Economy Of Vietnam: Market Reform, Growth, And The State, Joshua M. Steinfeld, Khi V. Thai

School of Public Service Faculty Publications

No abstract provided.

Entropy-Based Analysis And Bioinformatics-Inspired Integration Of Global Economic Information Transfer, Jinkyu Kim, Gunn Kim, Sungbae An, Young-Kyun Kwon, Sungroh Yoon

Research Collection School Of Economics

The assessment of information transfer in the global economic network helps to understand the current environment and the outlook of an economy. Most approaches on global networks extract information transfer based mainly on a single variable. This paper establishes an entirely new bioinformatics-inspired approach to integrating information transfer derived from multiple variables and develops an international economic network accordingly. In the proposed methodology, we first construct the transfer entropies (TEs) between various intra- and inter-country pairs of economic time series variables, test their significances, and then use a weighted sum approach to aggregate information captured in each TE. Through a …

Financial Development, International Capital Flows, And Aggregate Output, Jürgen Von Hagen, Haiping Zhang

Research Collection School Of Economics

We develop a tractable two-country overlapping-generations model and show that cross-country differences in financial development can explain three recent empirical patterns of international capital flows: Financial capital flows from relatively poor to relatively rich countries, while foreign direct investment flows in the opposite direction; net capital flows go from poor to rich countries; despite its negative net international investment positions, the United States receives a positive net investment income. International capital mobility affects output in each country directly through the size of domestic investment and indirectly through the aggregate saving rate. Under certain conditions, the indirect effect may dominate the …

The Effectiveness Of Public Development Banks: Designing Good Impact Evaluations, Alessandro Maffioli, Cesar M. Rodriguez

Economics Faculty Publications and Presentations

PDB programs have become a fundamental ingredient of productive development policy strategies in most emerging economies. Although the overall need for these interventions is rarely questioned, academics and policymakers often debate their effectiveness, as well as the optimal approaches and instruments necessary to implement them. Therefore, the need to produce rigorous evaluations of PDBs has become increasingly relevant for both government and civil society (see Chapter 2).

This chapter presents the main concepts and operational arguments regarding the execution of indepth impact evaluations of PDB initiatives and instruments. For a more practical approach, these arguments are presented with examples of …