International Economics Commons^™

Does China’S Trade Defy Cultural Barriers?, Roger White, Bedassa Tadesse, Huang Zhongwen

Economics

Using annual data for China and 88 trading partners that span the period 1995–2011, we estimate whether cross-societal cultural differences influence China’s external trade flows. Our results, obtained from the estimation of a series of multi-level mixed effect random intercepts and coefficients models, indicate that China’s aggregate exports and imports are largely unaffected by the cultural distance between China and its trading partners. Examination of disaggregate trade measures and consideration of the underlying dimensions of our composite cultural distance variable produces a largely similar result. Taken collectively, our results suggest that China’s trade is less affected by cultural distance than …

A Tale Of Two Cities: Global Entrepreneurship Monitor 2016, Singapore Management University

Perspectives@SMU

In recent years, Hong Kong and Shenzhen have experienced an explosive growth in the start-up support ecosystem.

Savings, Net Foreign Assets And Current Accounts Dynamics In Subsaharan Africa, A. I. Adeleke, W. Ohemeng, K. Ofori-Boateng

Economic and Financial Review

A profile of the current account balance in sub-Sahara Africa (SSA) shows that many countries in the region have consistently experienced current account deficits, dwindling savings and diminishing net foreign assets. These macroeconomic variables convey important information to economic agents about the health of a nation. The relationships among these three important variables in terms of short-run and long-run dynamics are cloudy in the literature. Therefore, this study examined the long-run and short-run dynamics of savings, net foreign assets and current account balance in subSaharan Africa. Utilising panel econometric techniques with annual data from 38 countries in SSA for the …

Determination Of Optimal Foreign Exchange Reserves For Nigeria, M. Tule, E. Egbuna,, S. Abdusalam, A. Oduyemi

Economic and Financial Review

The study examined the optimal level of international reserves for Nigeria that is capable of absorbing a shock similar to that experienced during the 2007/2009 Global economic crisis. Using, generalised autoregressive conditional heteroscedasticity (GARCH), vector autoregressive (VAR) estimation techniques and normalised Johansen cointegrated equation, and setting the maximum and minimum output losses for the entire period, the study found a positive relationship between the odds of default on sovereign debt and fiscal deficit to GDP ratio, short-term debt to reserves ratio and volatility in portfolio investments. In minimising the Bank's cost of holding reserves, the study found that the Nigerian …

Enforcing Corporate Social Responsibility Codes Under Private Law: On The Disciplining Power Of Legal Doctrine, Jan M. Smits

Indiana Journal of Global Legal Studies

A central question in the debate on corporate social responsibility is to what extent CSR codes can be enforced among private parties. This contribution argues that this question is best answered by reference to the applicable doctrinal legal system. Such a doctrinal approach has recently regained importance in American scholarship, while it is still the prevailing method of legal analysis in Europe. Applying a doctrinal analysis of CSR codes allows for the possibility of private law enforcement, that is, enforcement by means of contract or tort, dependent on three different elements: the exact type of claim that is brought, the …

Corporate Codes In The Varieties Of Capitalism: How Their Enforcement Depends On The Differences Among Production Regimes, Gunther Teubner

Indiana Journal of Global Legal Studies

Globalization has reinforced the conflicts among the varieties of capitalism. The colliding units are not just nation states, but transnational production regimes, which cut through national boundaries. The conflicts lead global corporate codes, which are developed by international organizations, to take different directions when they are concretized on the enterprise level. They will be differently enforced according to whether they are located in Liberal Market Economies (LME), adapted to the New Sovereignty of enterprises, or in Coordinated Market Economies (CME) with greater components of social welfare state and economic democracy.

Different patterns of enforcement emerge particularly when the courts have …

Immigrants, Cultural Distance, And Trade Costs, Roger White, Bedassa Tadesse

Economics

We examine the effects of immigrants and cross-societal cultural differences on bilateral trade costs using two alternative measures of cultural differences (i.e. cultural distance and genetic distance). We find that bilateral trade costs generally increase with a rise in the cultural distance between trading partners but fall with a rise in the stock of immigrants. This implies that immigrants counter bilateral trade costs that are associated with greater cultural differences. Our observation is relevant from both migration and trade policy perspectives as it provides further evidence that immigrants serve as conduits for bridging cultural differences, facilitate international transactions, and enhance …

Three Essays On Fiscal Policy, Sinem Buber Singh

Dissertations, Theses, and Capstone Projects

This dissertation examines the domestic and international effects of fiscal policy shocks on country risk, stock markets returns and trading partners. There are three essays in this study.

First essay examines the relative impacts of macroeconomic, financial and political variables on country risk for five advanced economies; the US, the UK, Canada and Singapore for 1984:M1-2014:M12 and Germany for 1990:M9-2014:M12 time periods. To do so, I follow a two stage estimation procedure. In the first stage, a CAPM is used to estimate time-variant country betas which are used as a proxy for country risk by using a DCC-GARCH model. Then, …

Essays On The Law Of One Price In Financial Markets And The Recent Financial Crisis, Igor Sorkin

Dissertations, Theses, and Capstone Projects

Essay 1: The theory of the Law of One Price (LOOP) is one of the most important theories in International Economics. I use financial markets to revisit the validity of the LOOP in the short run, and then extend the analysis into the long-run to examine whether events such as the Financial Crisis of 2007-2009 can lead to the failure of the LOOP or worsen deviations from it. Using the data on Canadian companies cross-listed on the New York Stock Exchange, I find strong support that the LOOP holds in a cross-sectional framework despite the fact that the sample includes …

The Impact Of Aid On The Economic Growth Of Developing Countries (Ldcs) In Sub-Saharan Africa, Maurice W. Phiri

Gettysburg Economic Review

Least Developed Countries (LDCs) of Sub-Saharan African have been recipients of official development assistance for more than 5 decades; however they are still characterized by chronic problems of poverty, low living standards and weak economic growth. The hot question is: Is aid effective in promoting economic growth? Thus, this paper investigates the impact of aid on the economic growth of 12 least developed countries in Sub-Saharan Africa over a period of 20 years. I take a fixed effects instrumental variable approach and the results imply that aid has a statistically insignificant negative impact on economic growth. I therefore conclude that …

The Gettysburg Economic Review, Volume 10, Spring 2017

Gettysburg Economic Review

No abstract provided.

Fdi And Income Inequality In Latin America, Terese Coulon

Empirical Economic Bulletin, An Undergraduate Journal

The main purpose of this paper is to determine the relationship between FDI and income inequality in Latin America after Operation Condor. This study uses economic panel data from seven different Latin American countries over a sixteen year time period. This study takes place from 1982 to 1997. Other variables have been included in this study to achieve the most accurate results possible. The results from this study show that FDI is significant to income inequality at the 5% significance level in Latin America during this time period. Also, the results indicate that FDI has a positive effect on income …

Is There A Path For Green Growth? Evidence From India, Thuc Anh Thi Trinh

Gettysburg Economic Review

This paper uses historical temperature fluctuations in India to identify its effects on economic growth rates. Using a climate-adjusted form of the Solow growth model, I find that one degree Celsius increase in temperature decreases GDP per capita growth by 0.71%. This finding informs debates over the role of climate on economic development and suggests the possibility of a green path for economic growth, a policy agenda that is both sustainable and pro-growth.

Internal Control Activities As A Tool For Financial Management In The Public Sector: A Case Study Of Ghana Post Company Limited, Kwakye E. Agyapong

Journal for the Advancement of Developing Economies

The case, Ghana Post Company Limited, allows for the observation of internal control activities as a tool for financial management in the public sector. The objective of the research is to examine the control environment of the Ghana Post Company to ensure there is segregation of duties, proper information and communication between employees and management; and monitoring of the policies implemented by management. The sample size of 36 included individuals from all of the departments within the company. The departments are Auditing and Finance, Human Resource, Mail and Parcels, and Financial Services. The work established had continued lapses in the …

Governing Militaries In Liberalizing Economies: China, Iran, Egypt, Loosineh Markarian Senagani

Electronic Theses and Dissertations

Why have some economically-active militaries of autocratic regimes gained more autonomy vis-à -vis their civilian elite as a consequence of economic liberalization processes adopted in 80s and 90s, whereas others have remained subordinate to civilian control? This dissertation examines the impact of economic liberalization since 1980s on civil-military relations (CMR) in autocratic regimes. Prior to liberalization, the centrally- planned governments of Egypt, Iran, and China utilized their militaries to implement economic development projects. Post-liberalization, these militaries expanded into new economic sectors like finance, banking, and trade. The expansion impacted the balance of CMR differently in each case. Egypt's military took …

Three Essays On Food Safety Regulations And International Trade Of Agricultural Products, Jun Ho Seok

Theses and Dissertations--Agricultural Economics

This dissertation investigates food safety regulations and international trade of agricultural products dividing into three aspects: the signalling effect from U.S. strict food safety regulations on U.S. vegetable exports, political determinants of sanitary and photosanitary non-tariff barriers, and the impact of trade barriers on employment in developing countries. In chapter 2, we investigate the impact of high U.S. maximum residue limit (MRL) standards on U.S vegetable exports to 102 countries utilizing the hierarchical model. MRL, which is one of non-tariff barriers with respect to food safety, is applied to home and foreign countries at the same time. Thus, firms in …

Income Inequality In Latin America And The Caribbean: Inefficient Labor Markets And Remnants Of Racism, Vivian Tejada

Empirical Economic Bulletin, An Undergraduate Journal

This paper aims to explore the key reasons as to why income inequality in Latin America is so vast. The study will investigate the various manners in which labor markets operate throughout Latin America and attempt to draw a connection between labor market inefficiency and income inequality keeping in mind the regions tumulus history with racism. Factors considered in this assessment are rate of income levels, unemployment, GDP p/capita, educational attainment, and age of labor force. The factors are accounted for in a regression model to examine the level of influence labor markets and race have on income inequality.

Effects Of Drought Conditions On Agricultural Productivity In Central And Western Tennessee, Sean Erwin

Empirical Economic Bulletin, An Undergraduate Journal

This paper analyzes the relationship between agricultural productivity of farms in drought conditions. The variables used in this research include fertilizer expense, precipitation totals, and average temperature. The model integrates all of the mentioned variables and finds the connection between the land value of farms and the variables. The outcomes show that both fertilizer expense and precipitation have negative relationships to land values for farms, while average temperature has a positive relationship.

Fiscal Policy And Its Effects On Economic Growth, Jordan J. Smith

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the impact of fiscal policy on economic growth during the time horizons of 1985, 1998, and 2014. Using cross country data from a minimum of 37 countries, it is found that international trade taxes share a partial correlation with economic growth. The magnitude of this relationship is found to be positive during all time horizons, and is diminishing over time. Estimates from 2014 suggest that a 10 percentage point increase in a country’s international trade tax will grant that country a .6% increase to their economic growth rate.

An Empirical Analysis On The Effects Of Fbs College Football Success On Undergraduate Enrollment From 2000 To 2014, Liam Rice

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the theoretical connection between FBS College Football success and the undergraduate enrollment of schools in the Northeastern United States. With multiple texts qualitatively discussing the positive effects a winning football culture has on the amount of applicants an institution receives, this study attempts, using panel data, to discover quantitative connections in this field. Utilizing data from over 19 FBS colleges and universities from 2000 to 2014, this study finds that there is a significant, positive connection between undergraduate application rates and football wins, as well as championships. This study lays the foundation for future studies into the …