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Full-Text Articles in Macroeconomics
New Institutional Economics: Political Institutions And Divergent Development In Costa Rica And Honduras, Maynor Alberto Loaisiga Bojorge
New Institutional Economics: Political Institutions And Divergent Development In Costa Rica And Honduras, Maynor Alberto Loaisiga Bojorge
Honors Projects
For most of their histories, Costa Rica and Honduras were primarily agricultural societies with little economic diversification. However, around 1990, after the implementation of Washington Consensus reforms, the economies of both nations began to diverge. Costa Rica’s economy rapidly expanded for the following 30 years, while Honduras remained stagnant. Through a New Institutional Economics approach, I argue that institutional differences between Costa Rica and Honduras are responsible for the impressive economic growth Costa Rica has been able to achieve in the past few decades. Specifically, early political developments in Costa Rica have deeply imbedded relatively egalitarian values into the population, …
What Do We Know About The Recent Performance Of Indian Banks?, Laira Aggarwal
What Do We Know About The Recent Performance Of Indian Banks?, Laira Aggarwal
CMC Senior Theses
This paper examines the performance of Indian banks by studying the effects of recent reforms and macroeconomic events. Indian banks went through a period of reforms in the past twenty years. The impact of these reforms and major macroeconomic events has been examined using time-series analysis. Event studies offer additional perspective on the short-run effect of the events on different types of Indian banks. Although, the event dates are not all statistically significant in the time-series regressions, the demonetization of 2016 is significant in the event study analysis. Thus, while reforms and events have immediate impact on the performance of …