Growth and Development Commons^™

A Counterfactual Analysis Of The Impact Of Stock Market Absence On Economic Growth In Selected Sub-Saharan African Countries, Etsub Tekola Jemberu, Adriana Knápková, Bruce Dehning

Accounting Faculty Articles and Research

Despite the global expansion of financial markets as a strategy for financial reform over the past century, around one-sixth of the world’s countries lack a formal stock market. This paper provides novel evidence from nine sub-Saharan African countries on how the absence of stock markets impacts economic growth. Using the synthetic control method (SCM), we estimate the counterfactual GDP per capita these countries would have experienced had they established a stock market during 1993–1995. The findings reveal that the absence of a stock market resulted in substantial losses for most countries, including Burundi, the Democratic Republic of Congo, Comoros, Guinea, …

Rising Numbers, Rising Risks: Population, Growth, And Natural Disasters, Sophia Becker-Toro, Yu Ouyang

Midwest Social Sciences Journal

How does population size and growth affect the risk of natural disasters? On October 7, 2024, before Hurricane Milton makes landfall in the Tampa Bay area, Tampa Mayor Jane Castor issues a dire warning to affected citizens: “I can say without any dramatization whatsoever. If you choose to stay in one of those evacuation areas, you’re going to die.” While there is an extensive literature which focuses on the impact of climate change and/or natural disasters, there is a dearth of works on how population affects the risks of natural disasters. As both the frequency and severity of storms and …

Search Costs, Intermediation, And Trade: Experimental Evidence From Ugandan Agricultural Markets, Lauren Falcao Bergquist, Craig Mcintosh, Meredith Startz

Discussion Papers

We study the large-scale experimental rollout of a platform that reduced search and matching frictions in Ugandan agricultural markets by connecting buyers and sellers. Market integration improved substantially: trade increased and price gaps fell. Interpreting the experiment through a trade model, we estimate treatment effects accounting for equilibrium changes that impact control markets. The intervention reduced fixed trade costs by 20% and increased trade flows between treated markets by 7% and across all markets by 1%. Scale economies shaped engagement:few farmers used the platform, but equilibrium price convergence from improved arbitrage by larger traders passed through to farm revenue.

Artificial Intelligence And The Future Of Global Inequality, Valentina Caceres

Posters - 2026

Artificial Intelligence (AI) is rapidly becoming a central tool in the global system, shaping economic growth, political power, and international influence. While AI is often celebrated for innovation and progress in different sectors like education, healthcare, security and more, its development is uneven and mostly concentrated in wealthy countries. Because AI is increasingly embedded in economic production, public administration, and social services, access to AI capabilities has become a key determinant of global competitiveness and influence. Many developing nations lack the capital, infrastructure, and technological capacity needed to compete in the global economy driven by AI. This imbalance matters because …

Essays On Family Economics, Culture, Inequality, And Growth, Rouzhi Liang

Economics Theses and Dissertations

This dissertation consists of essays on how family resource allocation and cultural values shape innovation, inequality, and long-run economic development. Across the chapters, I combine quantitative modeling and empirical analysis to understand the determinants of inequality and long-run growth.

Chapter 1 studies how parental fertility and bequest decisions affect children’s potential to become entrepreneurs when financial barriers exist. Motivated by evidence that high-income parents tend to have fewer children and leave larger bequests and allocate more resources per child, I develop an overlapping-generations model with endogenous fertility, bequests, and occupational choice, calibrated to U.S. data. The model shows that, when …

Can Argentina Overcome The Lithium Natural Resource Curse? A Case Study Into Argentina's Institutional Framework For Lithium Supply Chain Development And Innovation, Colby Greene

Senior Theses

Through the analysis of the natural resource curse, the development of institutional frameworks in societal contexts, the nature of natural resource-based industry value chains, and value creation through institutions and value chains, all in the context of Argentina’s lithium industry, this paper finds that Argentina has failed to implement the necessary institutions and promote proper policy to promote value addition and real economic growth through the conduit of the development of the lithium industry, yet it is not actively a victim of the natural resource curse. In the hierarchical nature of mining value chains, Argentina has permitted their vast lithium …

A National Security Strategy For The Middle East, Vanessa Rice, Rudy Torres, Addy Horgan, Joy Omosa, Mark Westfall

School of Public Policy Capstones

This National Security Strategy addresses the persistent national security challenges the United States faces in the Middle East, a region vital for global energy supply, economic connectivity, and a source of anti-American extremism. Recognizing the failures of past "haphazard experimentation," the strategy proposes a thoughtful, pragmatic plan prioritizing five distinct and congruent interest areas: Maintaining Regional Access, Supporting Regional Stability, Ensuring Energy Security, Defending American Citizens and Personnel, and Preserving and Protecting Western Ideals. The strategy outlines actions such as: countering Chinese and Russian influence through intelligence sharing and defense incentives; containing Iran via a new, permanent nuclear deal and …

From Ideas To Impact: Evaluating How Financial Technology Expands Financial Inclusion Across Countries, Shravani Atakari

Posters - 2026

Financial inclusion refers to access and use of financial services (World Bank, 2022). Traditional finance excludes users due to:

• High costs • Geographic distance • Limited credit History . Fintech expands access through digital tools Purpose: Analyze how fintech improves inclusion and what drives adoption

Research Questions How does financial technology reduce barriers to financial inclusion, and what factors influence its adoption among underserved populations? Objectives Identify key barriers to financial inclusion Analyze how fintech reduces these barriers Examine adoption factors (TAM + UTAUT) Propose solutions to improve adoption

Mica Productions: The Sad Truth Behind Cosmetic Corporations' Impact On Children's Well-Being In India, Nyleen Benavides

Posters - 2026

Mica is a shiny silicate mineral found in granite, crystals, or rocks. This mineral has attracted the eyes of many cosmetic corporations. Due to high rates of unemployment and poverty in Asian countries, particularly in India’s Jharkhand region, corporations have taken over to profit the exportations of mica. India relies on illegal child labor in mica mining sites that are not only hazardous to children, but the economy and ecosystem. Previous research has shown how cosmetic corporations use mica as one of their main ingredients for shiny pigmentations within their products. However, there is limited research that has indicated the …

Protection Vs. Progression: A Macroeconomic Approach To Military Expenditure Direct Effects On Social Outcomes Using Ihdi Measures, Connor Graham

Global Tides

This study examines whether military expenditure reduces inequality-adjusted human development and how national governance quality moderates these effects. Using panel data covering 121 countries from 2010-2023, two-way fixed effects models are employed to estimate the relationship between military spending and the Inequality-Adjusted Human Development Index (IHDI). Three key findings emerge from the analysis based on the resulting data. First, a one percentage point increase in military spending reduces IHDI by 0.0012-0.0015 points. Second, the effects prove seven times larger in developed countries than in developing ones, which runs contrary to expectations and prior literature. Lastly, political stability emerged as a …

Gender Norms, Socio-Organizational Ergonomics, And Female Labor Force Participation In South Asia, Huma Maqsood, Nor Fatimah Che Sulaiman, Suriyani Muhamad, Nor Aizal Akmal Binti Rohaizad, Sana Mukhtar

The Qualitative Report

Socio-organizational ergonomics encompasses workplace social and cultural factors that influence inclusion, performance, and well-being. Gender-based socio-organizational ergonomics has both microeconomic and macroeconomic implications. In this context, underutilization of women’s economic potential, evidenced by low female labor force participation, emerges as a critical factor that compromises sustainable growth in developing countries. To study the phenomenon, we examined the impact of gender norms on socio-organizational ergonomics and female labor force participation in South Asia. Qualitative data from in-depth interviews with 20 female participants are thematically analyzed using Braun and Clarke’s TA framework. Our findings highlight that socio-organizational ergonomics in South Asia is …

The Chainsaw Of Liberty: Reversing The Road To Serfdom Through Empirical Austrian Policy In Argentina (2024–2026), Pedro José Ruíz

SPARK Symposium Presentations

This research analyzes the strategic management of "Social Backlash" risk during the implementation of radical "shock therapy" economic reforms in Argentina. For decades, Argentina served as a cautionary tale of interventionism and hyperinflation; however, the 2023 election of Javier Milei transitioned the nation into a real-world laboratory for Austrian Economic principles. This study examines how the administration navigated the friction of institutional resistance—what F.A. Hayek described as the "security trap"—by prioritizing fiscal responsibility and monetary stabilization.

The analysis leverages 2026 empirical data to demonstrate the efficacy of these reforms. Key findings include a dramatic reduction in annual inflation from 211.4% …

The Writing On The Wall: The Rise Of Applied Ai And The Life-Or-Death Choice Every Ceo Must Make Now, Gary Sheng, Ron Roberts

Digital Laboratory: Publisher of Internet Journal

Applied AI is putting AI to its highest and best use: running your organization as autonomously as possible so you can deliver value for humanity while maximizing the scale of the value. The economy is splitting. Organizations that adopt applied AI are expanding their capacity, accelerating their impact, and pulling ahead. Those that don't are quietly becoming irrelevant, not because they're doing bad work, but because the gap between what they can do and what the moment requires is widening every day. This is not a technology question. It is a leadership question. This paper is written for organizational leaders, …

Retirement Rankings In The Mountain West, 2025, Isabelle G. Graham, Mia Tschan, Anthony Arroyo, Kristian Thymianos, Caitlin J. Saladino, William E. Brown Jr.

Demography

This fact sheet reports 2025 data on retirement rankings in the five Mountain West states of Arizona, Colorado, Nevada, New Mexico, and Utah. The Bankrate report, “America’s best states to retire in 2025: New Hampshire takes the top spot,” presents data on retirement rankings for all 50 U.S. states. This fact sheet focuses on the overall retirement rank and individual retirement category rankings for each Mountain West state.

Bridging Gaps In Data Utilization: An Evaluation Of The Rural Utah Data Symposium, Paul A. Hill

Outcomes and Impact Quarterly

This study evaluates the effectiveness of the Rural Utah Data Symposium, an event designed to address data-driven decision-making among rural leaders. The symposium features expert-led presentations on the rural economy, healthcare, housing, mobility, broadband, and wellbeing. Data were collected through an online exit survey with a 67% response rate (n = 35). Attendees rated presentation quality, learning outcomes, and overall satisfaction. Findings show high ratings and positive learning outcomes, demonstrating the symposium’s value in empowering informed decision-making. Recommendations include increasing interactivity among attendees, broadening content scope, and expanding statewide representation to further support data utilization in rural Utah.

Evolving U.S. And Chinese International Development Policy: Institutions, Strategies, And Global Impact, Julian Kai Lehto

Social Sciences

This paper is inspired by, and meant to understand, recent changes in global policy towards foreign aid and international development. 2025 saw one of the biggest changes to international development in decades, when President Donald Trump’s new administration made the decision to effectively shut down the United States Agency for International Development (USAID). At the same time, China has been taking on a growing role in foreign aid and development over the last decade. Chinese projects like the Belt and Road Initiative (BRI) have become globally significant. This paper will explore the changing impacts and influence of both the U.S. …

Farmers Markets As Community Infrastructure: Evidence From A Three-Year Statewide Data Project In Utah, Jaclyn Pace, Roslynn Mccann, Blue Cook, Steven Price, Lorali Smith, Dianna Parkynn, Joshua Cafferty

Outcomes and Impact Quarterly

Utah farmers markets play a critical role in food access, small business viability, and community connection, yet limited statewide data document their impact. The Utah Farmers Market Network (UFMN) and Utah State University (USU) Extension conducted a mixed-methods evaluation (2023–2025) and found that farmers markets make valuable contributions to the community.

The Changing Landscape Of International Development: An Introduction, Pascaline Dupas, Pinelopi K. Goldberg, Rohini Pande

Discussion Papers

Since the late 1980s, extreme poverty has declined sharply, life expectancy and schooling have increased, and electoral democracy has expanded. However poverty reduction has slowed in recent years, particularly following the COVID-19 pandemic, amid intensifying conflict, fragility, climate risks, democratic backsliding, and the erosion of global trends—including trade integration and geopolitical stability—that once supported growth. These dynamics raise three interrelated questions: what barriers impede further progress; where will future growth in lower-income countries come from; and how can growth be broadly shared. Taking stock of 15 chapters forthcoming in Volume 6 of the Handbook of Development Economics, we discuss how …

Digital Public Service Delivery As An Institutional Outcome: Data Governance And Interoperability In The Egyptian Public Sector, Waad Hegazy

Theses and Dissertations

Moving beyond technology-centered theories of digital transformation, this thesis examines the institutional and governance factors shaping digital public service delivery in Egypt. It analyzes how governance structures, data governance arrangements, and interoperability frameworks influence the extent to which digital transformation initiatives result in integrated, scalable, and citizen-facing public services. Using a qualitative research design, the study draws on an analysis of relevant policy and program documents and semi-structured interviews with key stakeholders involved in digital transformation initiatives in Egypt. The findings indicate that persistent challenges in digital public service delivery are driven less by technological constraints than by fragmented governance …

The Rise Of The Global Middle Class, Homi Kharas

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presented a lecture titled, "The Rise of the Global Middle Class" by Brookings senior fellow in global economy and development, Homi Kharas.

For the last two hundred years, ever since the start of the Industrial Revolution, the most successful economies in the world have developed large, stable middle classes. With globalization, the expansion of the middle class has accelerated to a historically unprecedented speed. But global consumerism is scaling faster than the adaptation of institutions, ecosystems, and social norms. Brookings senior fellow Homi Kharas discusses his most recent book, …