Domestic Political Competition And Pro-Cyclical Import Protection,
2016
University of Richmond
Domestic Political Competition And Pro-Cyclical Import Protection, James Lake, Maia K. Linask
Economics Faculty Publications
Governments, especially in developing countries, routinely practice binding overhang (i.e. setting applied tariffs below binding WTO commitments) and frequently move applied tariffs for given products up and down over the business cycle. Moreover, applied tariffs are pro-cyclical in developing countries. We explain this phenomenon using a dynamic theory of lobbying between domestic interest groups. Applied tariffs are pro-cyclical when high-tariff interests (e.g. import-competing industries) capture the government: these groups concede lower tariffs to low-tariff interest groups (e.g. exporting firms or firms using imported intermediate inputs) during recessions because recessions lower the opportunity cost of lobbying and thereby generate a stronger …
Performance Of American And Russian Joint Stock Companies On Financial Market. A Microstructure Perspective,
2016
Nicolaus Copernicus University
Performance Of American And Russian Joint Stock Companies On Financial Market. A Microstructure Perspective, Magdalena Osińska, Andrzej Dobrzyński, Yochanan Shachmurove
Publications and Research
This paper compares the periods before and after the Ukrainian crisis of 2014 from the perspective of market microstructure. The hypothesis is that the crisis influenced the fragile Russian financial market equilibrium. As financial markets adapt to the new equilibrium, the paper studies the effects of the crisis and the imposition of economic sanctions on Russia in terms of volatility, duration, prices and volume for selected joint stock companies listed on the U.S. and the Russian stock markets. Results reveal that the Moscow Stock exchange lacks an appropriate transmission mechanism from informed investors to the rest of the market.
Three Essays On Export Concentration, International Environmental Agreements, And The Carbon Content Of Trade,
2016
University of Kentucky
Three Essays On Export Concentration, International Environmental Agreements, And The Carbon Content Of Trade, Mihai Paraschiv
Theses and Dissertations--Economics
A common finding in the international trade literature is that economic integration leads to export diversification. By documenting a positive link between joining the European Economic and Monetary Union and bilateral export concentration, the leading essay shows that this is not always the case. Using a panel data approach, I find that exports between the Eurozone members are on average more concentrated than those among countries which do not share the euro. Central to this outcome is that some economic integration agreements, such as the European Economic and Monetary Union, may lead to a drop in not only trade but …
A Critical Examination Of Oil Wealth Management Strategies And Their Effects On Economic Growth In The Gulf Cooperation Council Countries,
2016
Claremont McKenna College
A Critical Examination Of Oil Wealth Management Strategies And Their Effects On Economic Growth In The Gulf Cooperation Council Countries, Caroline J. Belmont
CMC Senior Theses
Despite their natural resources, the countries of the Gulf Cooperation Council (Kuwait, the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, and Oman) have failed to live up to their economic potential, primarily due to their dependence on a revenue source with volatile prices and political significance in an unstable region. This thesis argues that the best way to convert oil wealth into consistent long term growth is through diversification, both by investing in foreign assets and by growing domestic sectors that are independent from oil and gas prices. The research further investigates the primary tool these countries have used to …
Escaping The Poverty Trap: Formal Savings And Asset Accumulation In Rural Malawi,
2016
Claremont McKenna College
Escaping The Poverty Trap: Formal Savings And Asset Accumulation In Rural Malawi, Audrey Breitwieser
CMC Senior Theses
Formal savings accounts can be an effective device for households to accumulate assets over time and thus have more funds available to better afford an expensive one-time payment, in the form of either addressing an economic shock or paying for an important life event. I explore this relationship using a field experiment in rural Malawi conducted from 2008-2010, and find that adoption of a formal savings account has no effect on the frequency of economic shocks that a household experiences, nor does it affect how households respond to shocks. However, I find that account adoption does significantly increase the frequency …
Causal Relationship Between Terrorism And Economic Indicators,
2016
Bryant University
Causal Relationship Between Terrorism And Economic Indicators, Jenna Labarre
Empirical Economic Bulletin, An Undergraduate Journal
This study aims to understand the causal linkage between terrorism and various economic indicators such as Gross Domestic Product, Tourism, and Foreign Direct Investment by running a Granger Causality regression. The expected results will show that terrorism does indeed decrease or increase as a result of changes in these economic indicators. In order to test for Granger Causality a unit-root test will first be performed, followed by a cointegration test. The results show that each nation experiences a different causal relationship with each of these indicators. Inflation is the most significant causal indicators in terms of percentage of countries tested …
The Relationship Of Savings And Economic Growth In Developing Nations,
2016
Bryant University
The Relationship Of Savings And Economic Growth In Developing Nations, Zachary Westner
Empirical Economic Bulletin, An Undergraduate Journal
The aim of this paper is to analyze the cause and effect relationship between economic growth and savings in developing countries. In this paper I used the co-integration model and the granger causality test which are typically used in finding the relationship between savings and economic growth. Before estimating the model, it was essential to determine the stationaries of the time series. To do so I used the ADF test (augmented dickey-fuller). The results confirmed the existence of a one-way causal relationship between Gross Domestic Savings and economic growth in developing nations.
How Trade Liberalization Affects Unemployment Under The Trans-Pacific Partnership: A Panel Data Analysis,
2016
Bryant University
How Trade Liberalization Affects Unemployment Under The Trans-Pacific Partnership: A Panel Data Analysis, Steven Brodeur
Empirical Economic Bulletin, An Undergraduate Journal
Between 1994 and 2000, NAFTA eliminated over 700,000 U.S. jobs from an increasing trade deficit. Will the TPP have similar detrimental effects? This study uses panel data to investigate the relationship between trade liberalization and unemployment among the TPP confirmed and interested signatories. The results show that a negative correlation exists between taxes on international goods and the net barter terms of trade index, indicating and ceteris paribus that the elimination of duties could result in a larger trade deficit for countries with comparably stronger currencies. Additionally, the fixed-effects GLS regression yields real exchange rates to be insignificant, supporting cheaper …
Could Tariffs Be Pro-Cyclical?,
2016
University of Richmond
Could Tariffs Be Pro-Cyclical?, James Lake, Maia K. Linask
Economics Faculty Publications
Conventional wisdom says that tariffs are counter-cyclical. We analyze the relationship between business cycles and applied MFN tariffs using a disaggregated product-level panel dataset covering 72 countries between 2000 and 2011. Strikingly, and counter to conventional wisdom, we find that tariffs are pro-cyclical. Further investigation reveals that this pro-cyclicality is driven by the tariff setting behavior of developing countries; tariffs are acyclical in developed countries. We present evidence that pro-cyclical market power drives the pro-cyclicality of tariffs in developing countries, providing further evidence of the importance of terms of trade motivations in explaining trade policy.
Mexico Consensus Economic Forecast, Volume 19, Number 1,
2016
University of Texas at El Paso
Mexico Consensus Economic Forecast, Volume 19, Number 1, Thomas M. Fullerton Jr., Adam G. Walke
Border Region Modeling Project
No abstract provided.
Equity Commitment Under Uncertainty: A Hierarchical Model Of Real Option Entry Mode Choices,
2016
Portland State University
Equity Commitment Under Uncertainty: A Hierarchical Model Of Real Option Entry Mode Choices, Rossitza B. Wooster, Luisa Blanco, W. Charles Sawyer
Economics Faculty Publications and Presentations
We develop a real option hierarchical model of entry mode choice and test predictions using a sample of US companies in Latin America and the Caribbean between 1980 and 2005. Probit results indicate that the choice between a real option non-equity mode and equity commitment is influenced by previous acquisition experience, R&D and advertising intensities, and country risk. The choice of the more flexible real option JV mode over WOEs is positively related to greater firm size and market-to-book ratio in countries with better infrastructure. In contrast, greater marketing intensity and lower country risk encourage WOEs.
Natural Disasters, Foreign Aid And Economic Development,
2016
University of New Hampshire - Main Campus
Natural Disasters, Foreign Aid And Economic Development, Valeriu Tomescu
Honors Theses and Capstones
No abstract provided.
Competing For Refugees: A Market-Based Solution To A Humanitarian Crisis,
2016
Duke Law School
Competing For Refugees: A Market-Based Solution To A Humanitarian Crisis, Joseph Blocher, Mitu Gulati
Faculty Scholarship
The current refugee crisis demands novel legal solutions, and new ways of summoning the political will to implement them. As a matter of national incentives, the goal must be to design mechanisms that discourage countries of origin from creating refugees, and encourage host countries to welcome them. One way to achieve this would be to recognize that persecuted refugee groups have a financial claim against their countries of origin, and that this claim can be traded to host nations in exchange for acceptance. Modifications to the international apparatus would be necessary, but the basic legal elements of this proposal already …
Determinants Of Fdi Into Developing Countries,
2016
Illinois Wesleyan University
Determinants Of Fdi Into Developing Countries, Hang Bich Phung
Mark A. Israel '91 Endowed Summer Research Fund in Economics
Overall, the incentives for foreign direct investment (FDI) vary vastly across time periods and regions. A preliminary analysis suggests that since 1990, investors tend to look for countries which can provide them with advantages in services and knowledge – capital intensive manufacturing industries. These advantages include the human capital stock and market size of the host country. On the other hand, considering a longer period, from 1980 to 2014, the more predominant advantages are natural resources and labor force. In this paper, we study two questions regarding what drives FDI to developing countries. First, what are the determinants that make …
Fish Landings At The World’S Commercial Fishing Ports,
2015
Poseidon Aquatic Resource Management Ltd.
Fish Landings At The World’S Commercial Fishing Ports, Tim Huntington, Fiona Nimmo, Graeme Macfadyen
Journal of Ocean and Coastal Economics
In 2009, the United Nations Food and Agriculture Organization (FAO) adopted the Agreement on Port State Measures to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated (IUU) fishing (PSMA). Countries that ratify the treaty commit to exert greater control at ports over foreign-flagged vessels to detect IUU catch before it is offloaded from vessels, and prevent the ill-gotten catch from entering the world’s markets. The PSMA, when effectively implemented globally, will be a major deterrent to IUU fishing. A major challenge to selecting ports for enhanced controls has been the lack of data on which ports are the world’s largest …
The Economic Impact Of Lifting Sanctions On Iran: How The Joint Comprehensive Plan Of Action Will Affect The Economy Of Iran,
2015
College of the Holy Cross
The Economic Impact Of Lifting Sanctions On Iran: How The Joint Comprehensive Plan Of Action Will Affect The Economy Of Iran, Ryan Foley
Washington Semester Program
During the second term of the Obama Administration, the United States and the European Union negotiated a deal with the Islamic Republic of Iran regarding their nuclear program. These negotiations encompassed the relaxing of sanctions on the Iranian economy in exchange for concessions on the part of their nuclear program. This thesis investigates how the deal will affect the economy of Iran and the international oil market, two entities which are deeply intertwined. The findings suggest that the opening of Iran’s economy will almost certainly lead to a strengthening of their domestic economy in the short-term, but that the government …
Competition And Gains From Trade: A Quantitative Analysis Of China Between 1995 And 2004,
2015
Singapore Management University
Competition And Gains From Trade: A Quantitative Analysis Of China Between 1995 And 2004, Wen-Tai Hsu, Yi Lu, Guiying Laura Wu
Research Collection School Of Economics
This paper provides a quantitative analysis of gains from trade for China over the period of 1995-2004, which was when China's openness drastically improved. We decompose gains from trade in two ways. First, we disentangle pro-competitive effects from a traditional Ricardian effect. Second, we separate the effect due to tariff reductions from that due to reductions in non-tariff trade costs. Our quantitative analysis shows that the pro-competitive effects account for 25.4% of the total welfare gains from trade, whereas the allocative efficiency alone accounts for 22.3%. We also find that tariff reductions account for about 31.6% of reductions of overall …
Trade Integration, Income Divergence, And Global Imbalances,
2015
Singapore Management University
Trade Integration, Income Divergence, And Global Imbalances, Haiping Zhang
Research Collection School Of Economics
We embed financial frictions and sector-specific minimum investment requirements (MIR) in a two-factor, two-sector, overlapping-generation model and showthat whether trade integration leads to convergence of the income levels among member states depends on their level of financial development. It helps reconcilethe mixed empirical evidence on trade integration and income dynamics in differentgroups of countries from the institutional perspective. In the recent decades, trade globalization has allowed developed countries to specialize towards the high-MIR, high-return production stages and tasks through international fragmentation of production and global sourcing. In our model, the “sectors” can be interpreted broadly as production stages and tasks. …
Institutional Complementarity Across Countries In Bilateral Fdi Flows: Theory And Evidence,
2015
Singapore Management University
Institutional Complementarity Across Countries In Bilateral Fdi Flows: Theory And Evidence, Pao-Li Chang
Research Collection School Of Economics
This paper builds a theory to characterize the comparative advantage of MNEs based in countries of different institutional qualities. It is shown that MNEs headquartered in countries of poorer state institutions will invest more in `informal institutions; and choose to undertake FDI in countries of weaker institutions. At the aggregate, MNEs on average generate more net profits in countries of weaker institutions, the poorer the institutional environment at home. I conduct an extensive test of the theory using bilateral FDI volume for 219 economies in year 2001-2010. The results indicate a statistically significant and robust institutional complementarity effect in bilateral …
The Next Wave Of Globalisation,
2015
Singapore Management University
The Next Wave Of Globalisation, Singapore Management University
Perspectives@SMU
As consumption patterns shift away from OECD countries to the developing world, businesses need to leverage on technology to overcome last-mile delivery obstacles
