International Economics Commons^™

Editor's Note, Padraig O'Malley

New England Journal of Public Policy

The editor's note at the beginning of this journal briefly speaks about each article within. The author touches upon learning, the challenges to an education, the effects of the growth of technology, how world politics interfere with economy, and how employment is affected by technology.

Malaysia In The Global Economy: Crisis, Recovery, And The Road Ahead, Daniel E. Charette

New England Journal of Public Policy

This article offers an analysis of contemporary economic development in Malaysia, focusing especially on the causes and consequences of the 1997 Asian Financial Crisis. Malaysia offers an excellent case study in international development due to its role as an export-dependent developing country with a high degree of integration in the global economy. In attempting to determine why Malaysia was enveloped by a financial crisis in July of 1997, a two-level political economy approach is used to separate international policy influences from domestic influences. My findings suggest that a combination of ill-advised, full capital account liberalization (Washington Consensus / international influence) …

La Política Comercial De La República Oriental De Uruguay: La Integración En El Mercosur Y Las Negociaciones De Libre Comercio Con Los Estados Unidos, Patrick Hudson

Independent Study Project (ISP) Collection

This study analyzes the foreign economic policy of Uruguay, concentrating specifically on the current administration’s proposed policy changes as reflected in recent free-trade negotiations with the United States. The paper begins with an historical evaluation of Uruguay’s current strategy of international insertion via the Common Market of the South (MERCOSUR), a fifteen year-old economic bloc also including Argentina, Brazil, and Paraguay. The first section then concludes with a brief examination of Uruguayan-American bilateral trade negotiations leading up to the 2006 Free Trade Agreement (FTA) talks. The second part of the study identifies three possible future scenarios of Uruguayan foreign economic …

Import Competition And The Probability Of Job Displacement In Us Manufacturing, 1983-1999, Roger White

Economics

The trade-displacement relationship is examined using observations from the 1984- 2000 Displaced Worker Surveys and corresponding industry data. Increases in import penetration and decreases in import prices correlate with higher displacement rates. Considerable variation in the effects of import competition on displacement probabilities is found across worker types. For example, the estimated displacement probability for a minority female who is not a union member but who has completed some college coursework ranges from 6.44 to 7.13 percent. This is significantly higher than the range estimated (1.02 to 1.24 percent) for collegeeducated, white, male union members. Setting import competition values equal …

Protection For Sale Under Monopolistic Competition: An Empirical Investigation, Pao Li Chang, Myoung-Jae Lee

Research Collection School Of Economics

This paper proposes a general empirical framework to estimate the protection-for-sale model, where the protection regime shifts according to a sector's market structure (perfectly or monopolistically competitive). We base the protection structure on Grossman and Helpman (1994) for the subset of perfectly competitive sectors and on Chang (2005) for the subset of monopolistically competitive sectors. The two protection regimes are simultaneously estimated with joint constraints. The results of the J-test consistently reject the homogeneous (perfect competition) protection-for-sale model often adopted in previous literature and suggest a direction of improvement toward the proposed heterogeneous protection structure model.

Reviewed Work: Understanding Institutional Diversity By Elinor Ostrom, Jonathan G.S. Koppell

Publications from President Jonathan G.S. Koppell

No abstract provided.

Determinants Of Workers' Remittances: The Case Of Turkey: A Review., Magnus O. Abeng

Economic and Financial Review

The paper is focused on the determinants of workers remittances using Turkey as a case study.

Are Immigrants Remittance Flows A Source Of Capital For Development?: A Review, Phebian N. Omanukwue

Economic and Financial Review

The paper seeks to develop a remittance model that would indicate if immigrant remittances were a source of capital flows for development.

Green Revolutions And Miracle Economies: Agricultural Innovation, Trade And Growth, Brishti Guha

Research Collection School Of Economics

The purpose of this paper is to develop a simple model of an economy in which growth is driven by a combination of exogenous technical change in agriculture and a rising world demand for labor-intensive manufactured exports. We explore the relative roles of an exogenous agricultural productivity shock and rising export demand in a model with two traded industrial goods and a non-traded agricultural good, food. When the non-traded sector uses a specific factor, we show that technical change in agriculture may be the key to factor migration into industry, in particular driving intersectoral labor migration. A key assumption is …

Regulation And Freedom In Global Business Education, Stefano Harney, Cliff Oswick

Research Collection Lee Kong Chian School Of Business

Purpose: This paper seeks to confront the orthodoxy of global business education with some insights from postcolonial theory in order to develop a new critical pedagogy adequate for a global sociology of management and accounting. Design/methodology/approach: Reviewing the state of play in postcolonial theory and noting the new politicisation in that field, the paper asks what relevance this politicisation might have for an alternative to orthodox global business education. Findings: The paper finds that the texts available to postcolonial theory present a wealth beyond the regulation of colonial and neo‐colonial regimes and in contrast critical management studies do not have …

China In Asean-Led Multilateral Forums, Serene Hung

Maryland Series in Contemporary Asian Studies

No abstract provided.

Have Cafe Standards Reduced The Effect Of Gasoline Prices On Domestic Automobile Manufacturers’ Market Share Of The Us Market?, Abdelwahed Tazi

Gettysburg Economic Review

One of macroeconomists’ major concerns is GDP volatility, and understanding what causes this volatility is essential when attempting to reduce it. For decades, the automotive industry has been a major component of US GDP. Therefore, understanding the driving forces behind this industry indirectly contributes to the study of GDP volatility. This paper focuses on CAFE standards and how they change the effect of oil prices on US automobile sales.

What motivates this paper is the fact that during the mid-to-late 80s, fluctuations in the market share of domestic automobile manufacturers diminished substantially. Figure 1 presents the sales of domestic automakers’ …

The Gettysburg Economic Review, Volume 1, Spring 2006

Gettysburg Economic Review

No abstract provided.

The Kyoto Protocol's Clean Development Mechanism: Prospects For Japan-Philippines Partnership, Rosalina Palanca-Tan

Economics Department Faculty Publications

The Kyoto Protocol's Clean Development Mechanism (CDM) is a system by which a developed country can earn carbon emission reduction (ER) credits through an emission-mitigating project undertaken in a developing country. While allowing developed countries to meet their Kyoto Protocol commitments at less cost, CDM benefits the host developing countries with new capital investments and the transfer of clean technologies. In view of the potential supply of ERs on the Philippine side and a pressing demand on Japan's side, this article explores the relatively low level of CDM cooperation between the Philippines and Japan, and suggests ways of moving forward.

Trade Lectures, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (n.d.). Symposium: Notes mentioning Steve Pressman and aggregate production functions (APFs) [Unpublished handwritten notes]. Manuscript.

• Shaikh, A., PhD. (n.d.). Handwritten notes on Steedman, Ian (1979), Trade amongst growing economies [Unpublished handwritten notes]. Manuscript.

• Felipe, J. (2002, January 15). Email to Anwar Shaikh discussing equations including Cobb–Douglas, translog, and CES [Unpublished email correspondence].

• Shaikh, A., PhD. (n.d.). Handwritten notes on aggregate production functions [Unpublished handwritten notes]. Manuscript.

• Shaikh, A., PhD. (n.d.). I: The secret of growth accounting [Unpublished handwritten notes]. Manuscript.

• Shaikh, A. (2001, December 4). Email to Jesus …

Intra-Industry Specialization And Trade Expansion In U.S. Trade With The Free Trade Areas Of The Americas (Ftaa), John R. Ledgerwood, E. M. Ekanayake, Mihalis Halkides

Publications

This paper aims to explain the extent of vertical and horizontal intra-industry trade (IIT) in United State's foreign trade with the other 33 members of the Free Trade Areas of the Americas (FTAA). It also attempts to identify the country- and industry-specific determinants of vertical and horizontal IIT. This study uses detailed trade data at the 10-digit Harmonized System (HS) industry level and covers a longer and more recent period, 1990 through 2005. The Grubel-Lloyd intra-industry trade index is used to calculate the intensity of these two types of intra-industry trade. One of the main findings is that, with the …

Inter-Industry Gender Wage Gaps By Knowledge Intensity: Discrimination And Technology In Korea, William C. Horrace, Beyza P. Ural, Jin Hwa Jung

Center for Policy Research

A new gender wage gap decomposition methodology is introduced that does not suffer from the identification problem caused by unobserved non-discriminatory wage structure. The methodology is used to measure the relative size of Korean gender wage gaps from 1994 to 2000 across industries, differentiated by industrial knowledge intensity, where knowledge intensity is the extent to which industries produce or employ high-technology products. Korea represents an important case study, since it possesses one of the fast growing knowledge-intensive economies, among industrialized countries. Empirical results indicate that over this period, discrimination (the unexplained portion of the gender wage gaps) in Korea was …

The Subtlety Of Political Risk With Foreign Direct Investment: The Case Of The Vietnamese Sugar Industry, Tom Arnold, Bonnie Buchanan, Janice Lo

Finance Faculty Publications

Political risk entails more than a host country taking advantage of investment from foreign sources. A more subtle form of political risk is attributable to the host government's mismanagement of policies that may be intended to attract foreign direct investment, but may have unintended consequences. A perfect example is the ''One Million Tonne Sugar Program " sponsored by the government of Vietnam during the mid-1990s. What appears to be a very lucrative investment for foreign investors becomes a financial disaster due to the inability of the government to allocate resources efficiently and police its borders from smugglers.

Building Core Competencies In A Turbulent Environment: An Exploratory Study Of Firm Resources And Capabilities In Chinese Transitional Economy, Justin Tan, Shaomin Li, Weian Li

Management Faculty Publications

The impact of firm resources and capabilities on performance among Chinese enterprises has been subject of anecdotal speculation due to its significant implications for organizational researchers as well as practitioners. Yet empirical evidence has been very limited. In this research, set in the People's Republic of China, we examine firm resources and capabilities and their impact on firm performance among Chinese enterprises. Using large sample of 12,047 Chinese firms from 1991 to 1992, we found that most of the firm specific resources and capabilities examined in this study have a positive impact on performance. We discussed the implications for organizational …

An Optimum Currency Area In South Asia: Is It Plausible?, Nilanjan Banik, Basudeb Biswas, Peter J. Saunders

All Faculty Scholarship for the College of Business

This article is an empirical investigation of the potential feasibility of an optimum currency area (OCA) in South Asia. Under an OCA, member countries share a common currency (like the Euro), and forego autonomy with respect to monetary policy instruments. Countries are good candidates for forming an OCA if there is a long-run relationship in the trend (permanent) component of output. Our results indicate existence of such a long-run relationship in the trend component of gross domestic product (GDP) among the member countries in South Asia. Hence, the South Asia region has the potential to form an OCA.

Thirwall Project, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Abu-Ismail, K. (2006, April). Exports and imports growth rates (1960–1999). Unpublished document.

• Puty, C. (2002, January 31). Email to Anwar Shaikh: Fwd: R: Cointegration (Discussion of cointegration and dummy variables with Riccardo Fiorito). Unpublished email correspondence.

• Contri, A., & Puty, C. (2001, August 13). Explaining Thirlwall’s law. Unpublished document.

• Handwritten notes on Thirwall’s law. (n.d.). Unpublished handwritten notes [Manuscript]. (A. Shaikh, PhD, author).

• Handwritten notes titled “structural breaks and regressions.” (2000, November 11). Unpublished handwritten notes [Manuscript]. (A. Shaikh, PhD, author).

• File hypothetical.wf1: Generating artificial data for terms …

Labor Struggles, New Social Movements, And America's Favorite Pastime: New York Workers Take On New Era Cap Company, Victoria Carty

Sociology Faculty Articles and Research

Contemporary economic globalization, which is driven and regulated primarily by multinational corporations, has a direct impact on workers' lives. Trade agreements such as the North American Free Trade Agreement (NAFTA) tend to be controlled by corporate interests in the wealthy, industrialized nations. Those countries set the agenda to protect the interests of foreign investors and facilitate the mobility of capital, but they do little to protect the interests of labor. In response, workers in both the global North and South have been forced to rely on their own individual efforts to protect themselves against unfair labor practices. This article presents …

Divergent Opinions And Value Stock Performance, John A. Doukas

Finance Faculty Publications

Those who believe that capital markets—that is, markets for stocks and bonds—operate efficiently and asset prices fully reflect all publicly available information are engaged in an ongoing debate about the exact interpretation of the “value premium” with those who reject this view. Value premium refers to the superior returns generated by the purchase of value stocks relative to growth, or glamour, stocks. Rationalists, the group believing in market efficiency, argue that because value stocks are fundamentally riskier than growth stocks, the value premium is compensation for bearing risk. Behavioralists, the group arguing that market asset prices don’t reflect all publicly …

World Bank, Adrienne Stohr

Human Rights & Human Welfare

The mission of the World Bank is to aid developing countries stabilize their economies through financial and technical assistance. The five dominant themes that emerge in a review of the World Bank literature are: health, gender, environment, globalization, and global governance. Each of these themes is broadly related to issues that consistently influence the larger issue of how the World Bank incorporates, rejects, or impacts human rights.

Legal Ground Rules In Coordinated And Liberal Market Economies, Katharina Pistor

Faculty Scholarship

This chapter seeks to explain the affinity between the nature of economic systems: coordinated market economies (CMEs) and liberal market economies (LMEs) on the one hand, and legal origin (civil vs common law systems) on the other. It starts with the simple observation that LMEs tend to be common law jurisdictions, and CMEs civil law jurisdictions. It proposes that the affinity between economic and legal system offers important insights into the foundations of different types of market economies and, in particular, differences in the scope of the state vs the powers of the individual. The main argument is that the …

China's Changing Economic Structures And Its Implications For Regional Patterns Of Trade Production And Integration, Kim Song Tan, Hoe Ee Khor

Research Collection School Of Economics

There is tremendous momentum for economic and financial integration in East Asia today. Partly inspired by the formation of the European Union and partly as a response to the 1997/98 Asia financial crisis, many East Asian countries are showing greater commitment to regional economic cooperation. A number of bilateral free trade agreements (FTAs) have either been concluded or are being negotiated.1 At a less formal level, the ASEAN+3 grouping has brought the whole region together in regular consultations over trade, investment, as well as monetary and exchange rate policy matters.

Do Imports Cause Economic Growth? A Time-Series Investigation Of The U.S. Data, Peter J. Saunders, Koushik Ghosh

All Faculty Scholarship for the College of Business

This paper investigates the relationship between imports and economic growth in the US in the long run and the short run. Quarterly data ranging from the first quarter of 1970 to the fourth quarter of 2000 are used to investigate this relationship. Cointegration tests using Johansen's (] 988) technique are used to analyze the long run relationship between imports and economic growth (measured by nominal GDP). Test results indicate that imports and economic growth are related in the long run. The short run analysis of the data is conducted within vector error correction (VEC) testing framework. VEC rest results indicate …

Bond Yield Compression In The Countries Converging To The Euro, Lucjan T. Orlowski, Kirsten Lommatzsch

WCBT Faculty Publications

We demonstrate that bond yield compression is under way in the countries converging to the euro and that German yields are significant drivers of local currency yields. Based on the evidence from Poland, Hungary and the Czech Republic, we conclude that these new ...Member States of the European Union are ready to adopt the euro without risking a disruptive shock to their financial stability. This message transpires from investigating the daily volatility dynamics of local bond yields as a function of German yields, conditional on changes in local term spreads, exchange rates and adjustments to central bank reference rates. Similar …

Institutions, Wages, And Inequality: The Case Of Europe And Its Periphery (1500-1899), Davin Chor

Research Collection School Of Economics

This paper explores the long-run relationship between institutions and wage outcomes in Europe and its periphery. I find that cities that exercised stronger institutional protection of private property experienced: (i) higher levels of both skilled and unskilled real wages, as well as (ii) lower levels of inequality as measured by the skilled-unskilled wage ratio. While the first result corroborates existing work on the positive growth effects of better institutions, the second finding is more novel to the literature. Some explanations are proposed for how stronger institutions can cause an increase in the relative supply of skilled workers, thus lowering wage …

After Argentina, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

Argentina recently completed the largest sovereign bond restructuring in history. As soon as the government announced the results of its $100 billion tender in March 2005, editorial pages worldwide heralded a new era for sovereign debt, for the emerging markets and, occasionally, for international finance. Their views on Argentina's lessons were as disparate as they were definite. Some said the exchange would close the markets to middle-income countries. To others, it reaffirmed the markets' resilience. Some claimed it proved the need for statutory sovereign bankruptcy. Others said it clearly discredited the idea. Most spoke too soon. The deal took months …