Growth and Development Commons^™

Does U.S. Macroeconomic News Make Emerging Financial Markets Riskier?, Esin Cakan, Nadia Doytch, Kamal P. Upadhyaya

Publications and Research

This study analyzes the impacts of US macroeconomic announcement surprises on the volatility of twelve emerging stock markets by employing asymmetric GJR-GARCH model. The model includes both positive and negative surprises about inflation and unemployment rate announcements in the U.S. We find that volatility shocks are persistent and asymmetric. Asymmetric volatility increases with bad news on US inflation in five out of the twelve countries studied and it increases with a bad news on U.S. unemployment in four out of twelve countries. Asymmetric volatility decreases with good news about US employment situation in eight countries out of twelve countries. Such …

Crowdfunding For Biotechs: How The Sec’S Proposed Rule May Undermine Capital Formation For Startups, Brian J. Farnkoff

Journal of Contemporary Health Law & Policy (1985-2015)

No abstract provided.

The Prospects Of Development Of The Car Carrier Industry In China, Yan Liu

World Maritime University Dissertations

No abstract provided.

Stepping Up From Green Revolution To Blue Economy : A New Paradigm For Poverty Eradication And Sustainable Development In South Asia, Imali Manikarachchim

World Maritime University Dissertations

No abstract provided.

Hip-Hop, Medellín And Social Change, Veronica Henao Posada

Master's Theses

This study explores the ways in which the Hip-hop movement is producing social change in Medellín, Colombia. Looking specifically at a Hip-hop school called Cuatro Elementos Skuela, which exists autonomously and with very little state support in the Medellín neighborhood of Aranjuez, I argue that young people are contributing to the reconstruction of the city’s social, cultural and economic fabric. I start by explaining the historical context of Medellín, describing the different sets of conflicts that unleashed high levels of violence and caused the fragmentation of the social, cultural and economic fabric. Moreover, I review the role of the …

Wetlands Utilization And Rural Livelihood Diversification: A Case Of Simiyu Wetland, Magu, Tanzania, Emiliana Mwita

Journal of Humanities and Social Sciences

In many developing countries wetlands play an important role in supporting the livelihood of both urban and rural communities. In rural areas wetlands are increasingly becoming a focal point of production and livelihood diversification due to their richness and the diverse options they provide. This paper explores the livelihood options provided by Simiyu wetland in Magu District, Simiyu Region, to the community living arround it using social survey methods. This paper is based on a study which shows that wetland farming is the main activity (75%) and significantly contribute to cash income generation, followed by livestock keeping, fishing and handicraft. …

Community-University Partnerships For Change In The Black Belt South, Rosalind Harris

Professional Agricultural Workers Journal

This article explores issues related to community-university partnerships by examining

the unfolding of the Black Belt Initiative, a 21^st century mobilization within the Black Belt South to establish a Black Belt Regional Commission. The Black Belt Initiative provides an instructive and compelling case study. For instance, the very nature of the Black Belt Initiative’s beginnings through the provision of a grant by Senator Zell Miller of Georgia to the University of Georgia with the proviso that “poverty – not race be the guiding principle…” heightened the tension between historically black and white universities reflecting longstanding contestations around how problems …

Community Capital And Local Economic Development Efforts, Andrew A. Zekeri

Professional Agricultural Workers Journal

Actions by local groups and leaders constitute an essential but poorly understood element of many rural economic development efforts. Previous studies suggest that local development efforts can influence community changes, but questions remain about why localities differ in economic development efforts. Drawing upon community capital framework and human ecological theory, the purpose of this research was to examine the effects of community capital on economic development efforts in rural communities. Hierarchical regression results indicate that social capital, cultural capital, built capital significantly predict economic development effort to develop recreation and tourism and human services. Despite that, only built capital and …

Short-Term Inflation Forecasting Models For Nigeria, Sani I. Doguwa, Sarah O. Alade

CBN Journal of Applied Statistics (JAS)

Short-term inflation forecasting is an essential component of the monetary policy projections at the Central Bank of Nigeria. This paper proposes four short-term headline inflation forecasting models using the SARIMA and SARIMAX processes and compares their performance using the pseudo-out-of-sample forecasting procedure over July 2011 to September 2013. According to the results the best forecasting performance is demonstrated by the model based on the all items CPI estimated using the SARIMAX model. This model is, therefore, recommended for use in short-term forecasting of headline inflation in Nigeria. The forecasting performance up to eight months ahead, of the models based on …

Mountain Monitor - 3rd Quarter 2013, Kenan Fikri, Mark Muro

Mountain Monitor Quarterly

The quarter’s Mountain Monitor marks the four-year anniversary of Brookings Mountain West's quarterly tracking of the uneven pace of recovery across the major metro areas of the Intermountain West and it finds that, although the region continues to outperform the national economy the rate of recovery slowed moderately in the region’s metro areas.

As a group, Mountain region metro areas advanced on all four indicators of economic recovery tracked by the Monitor—employment, output, unemployment, and house prices—but their progress was more restrained in the third quarter of 2013 than it was in the second.

Beneath the regional headline of moderating …

The Impact Of The Great Recession On Nevada’S Latino Community, John P. Tuman, David F. Damore, Maria J.F. Agreda

Brookings Mountain West Publications

The emergence of the Great Recession of 2008 had a profound impact in Nevada. The economic downturn generated high unemployment levels and led to turbulence in many sectors, particularly residential home construction and the hospitality industry. In the wake of the crisis, median home prices in Nevada plunged, while the residential foreclosure rate increased and remains one of the highest rates in the country. By 2009, it was evident that a tightening of commercial bank lending for new mortgages, combined with the impact of rising joblessness and plunging housing values, was hampering recovery efforts in the housing sector and Nevada’s …

Influence Of Corruption, Foreign Direct Investment And Net Domestic Credit On Economic Growth, Meng Mi

Applied Economics Theses

In Asia, it is not clear whether governments can attract increased FDI by reducing corruption, or whether corruption is irrelevant to levels of GDP growth, especially if the mechanism of net domestic credit can be used to stimulate economic growth even in the absence of high levels of FDI. The purpose of this study is to examine the potentially distinct effects of both FDI and net domestic credit on economic growth, as well as the relationship between corruption and economic growth. This relationship is studied using ex post facto data from a sample of Asian countries from the years 1980-2012. …

An Examination Of The Governance Policies Of Maine Nonprofits As They Relate To Endowment And Cash Reseve Accounts, Kenneth S. Spirer

Muskie School Capstones and Dissertations

For my Capstone project, I examined whether Maine nonprofit organizations have established policies to manage their endowment and cash reserve funds. Based on survey responses and a literature review, I have identified governance policies that represent best practices for nonprofit organization’s responsibilities for the endowment assets. I also have drafted a sample Investment Policy Statement “template” for small nonprofits to use as a basis for developing their own policies.

An Efficient Two Sample Capture-Recapture Model With High Recaptures, Danjuma Jibasen, Yusuf J. Adams

CBN Journal of Applied Statistics (JAS)

This paper proposed an efficient two sample capture-recapture model (Ma) with high recaptures and compared it with the existing models like the model of no factor effect (Mo), behavioral response model (Mb) and the Petersen model (Ms), using simulated data. We found that the Petersen model provides a better estimate of the population size when the observations follow a hypergeometric distribution and the population is overestimated when recapture is high. It was also found that the proposed model provides a better estimator of the population size than the existing ones when the recapture is high. This model is particularly useful …

Causal Relationship Between Stock Market Index And Exchange Rate: Evidence From Nigeria, Abdulrasheed Zubair

CBN Journal of Applied Statistics (JAS)

This paper uses Johansen’s cointegration to test for the possibility of cointegration and Granger-causality to estimate the causal relationship between stock market index and monetary indicators (exchange rate and M2) before and during the global financial crisis for Nigeria, using monthly data for the period 2001–2011. Results suggest absence of long-run relationship before and during the crisis. The Granger-causality tests show a uni-directional causality running from M2 to ASI before the crisis while during the period of the crisis there is absence of causality between the variables. This suggests that ASI show responsiveness to M2. Thus, absence of the direct …

Investigating Chaos In The Nigerian Asset And Resource Management (Arm) Discovery Fund, Ibiyinka A. Fuwape, Samuel T. Ogunjo

CBN Journal of Applied Statistics (JAS)

This paper investigates chaos in a Nigerian mutual fund, Asset and Resource Management Company Limited (ARM) for a period of eleven years. The existence of chaotic signals in the data was identified by the reconstruction of the phase space of the daily closing price of the fund and the delay time was quantified using mutual information function and the embedding dimension by the false nearest neighbours, where the values were identified to be 15 and 20 respectively. The presence of chaotic signals in the ARM data was further confirmed by the correlation dimension method which yielded a dimension of 2.2 …

Modeling The Nigerian Inflation Rates Using Periodogram And Fourier Series Analysis, Chukwuemeka O. Omekara,, Emmanuel J. Ekpenyong, Micheal P. Ekerete

CBN Journal of Applied Statistics (JAS)

This work considers the application of Periodogram and Fourier Series Analysis to model all-items monthly inflation rates in Nigeria from 2003 to 2011. The main objectives are to identify inflation cycles, fit a suitable model to the data and make forecasts of future values. To achieve these objectives, monthly all-items inflation rates for the period were obtained from the Central Bank of Nigeria (CBN) website. Periodogram and Fourier series methods of analysis are used to analyze the data. Based on the analysis, it was found that inflation cycle within the period was fifty one (51) months, which coincides with the …

Nigerian Stock Index: A Search For Optimal Garch Model Using High Frequency Data, Olaoluwa Simon Yaya

CBN Journal of Applied Statistics (JAS)

This paper attempts to fit the best Generalized Autoregressive Conditional Heteroscedastic (GARCH) model for All Share Index (ASI) of Nigerian Stock Exchange (NSE) returns. A search is made on various GARCH variants specified on the assumptions of stationarity and asymmetry. Fractionally integrated types are also considered to capture the possibility of return series having property of long range dependency. The parameter estimations are carried out on the assumptions of normality and non-normality of GARCH innovations, with models and forecasts evaluated using information criteria and loss functions respectively. Under normality assumption, Hyperbolic GARCH (HYGARCH(1,d,1)) model is selected and Integrated GARCH (IGARCH(1,1)) …

Time Series Modeling Of Nigeria External Reserves, Iheanyichukwu S. Iwueze, Eleazar C. Nwogu, Valentine U. Nlebedim

CBN Journal of Applied Statistics (JAS)

This paper discusses the levels and trend of external reserves in Nigeria. The relevance of this lies in the fact that it could help to monitor the reserves and throw early warning signal about any economic crisis. Monthly data on Nigeria external reserves for the period January 1999 to December, 2008 derived from the 2008 CBN Statistical Bulletin was analyzed using ARIMA model. Results of the analyses show that (i) the data requires logarithmic transformation to stabilize the variance and make the distribution normal (ii) the appropriate model that best describes the pattern in the transformed data is the Autoregressive- …

A Markov Decision Process Approach To Optimal Control Of A Multi-Level Hierarchical Manpower System, Akaninyene U. Udom

CBN Journal of Applied Statistics (JAS)

A recurrent problem in manpower control is how to attain the desired structural configuration in an optimal way, since it is possible to reach a desired structural configuration using different control inputs. The major aim of this paper is to develop a Markov Decision Process for optimal control of a Multi-level Hierarchical Manpower System (MHMS) by promotion and interdepartmental transfers. This is examined under control by intervention and contraction cost Markov Decision Process.