Public Economics Commons^™

Should I Bribe? Re-Examining The Greasing-The-Wheels Hypothesis In Democratic Post-Soeharto Indonesia, Irfan Kurniawan

Economics and Finance in Indonesia

During the Soeharto Era corruption was considered to grease the wheels of growth in Indonesia, a country once considered to be the most corrupt country in the world. Indonesia began to experience instantaneous decentralization and democratization after the Soeharto Era abruptly ended. While vastly celebrated, these episodes have their unintended consequence: coercive regulation. We employed the extensive firm-level Large and Medium Manufacturing (Industri Besar Sedang/IBS) census data combined with the Indonesian Democracy Index (Indeks Demokrasi Indonesia/IDI) at provincial level spanning from 2009 to 2015 and found that bribery hampered Indonesian firm output and productivity growth by 9.8% and 12.6%, respectively. …

Islamic Financial Literacy Index Of Students: Bridging Sdgs Of Islamic Finance, Arief Dwi Saputra, Alfina Rahmatia

Economics and Finance in Indonesia

This research aims to measure the level of Islamic financial literacy among students by reviewing 2 dimensions, 8 variables, and 33 indicators obtained from literature studies and experts. This study applied mix method to qualitative and quantitative data with a total sample of 273 respondents. The data were obtained from interview and online FGD and then processed by word similarity analysis as well as validity and reliability tests, the results of which are used as reference and conclusion. The analysis shows that the level of understanding of financial literacy among students remains significantly low, proven by the value of the …

Stock Market Correlations To Economic Indicators, Anthony K. Quandt

Honors Program: Senior Projects (Public)

For this project, I researched how representative the S&P 500 (a common index of choice to represent the market) is of the economic well-being of the US. I found that stock market data can be used an as indicator of the economic well-being of the U.S.. The results do not indicate that the stock market leads to recovery, but it does suggest that it is correlated with recovery. In my analysis, I compared the S&P 500 performance to four different economic indicators: Real Gross Domestic Product (GDP), The Consumer Price Index (CPI), Average Weekly Private Wages, and Unemployment Rate. A …

The Economic And Health Impacts Of Community Gardens On Refugee Populations: Cric Garden Case Study, Joseph Montoya

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The purpose of this paper is to examine the economic benefits of community gardens and incubator farms, both of which support the populations they serve from an economic viewpoint as well as socially, and as a benefit to public health and nutrition. The findings were gathered from the large body of research concerning the benefits of community gardens as well as program evaluation responses conducted with gardeners at the Cache Refugee and Immigrant Connection (CRIC) garden in Logan, Utah in 2020. They are also informed by experiences had and lessons learned while working as the garden manager. There is a …

An Economic Analysis Of Using Retired Vessels To Create Artificial Reefs In Costa Rica, Josué González

Electronic Theses and Dissertations

ABSTRACT

The Republic of Costa Rica is a Central American country with only 0.03% of the world’s landmass, but 5% of the world’s biodiversity, making it a leading ecotourism destination. Ecotourism is one of the main sources of revenue for the country, but the degradation of coastal reefs has resulted in a significant loss of financial income for developing areas. As a result, many of these areas are searching for methods to revert the degradation of coral reefs.

Artificial reefs play an important ecological role in marine ecosystems due to their complexity and size. They help in the development of …

Impact Of Government Expenditure On Economic Growth In Nigeria, 1970-2019, Aluthge Chandana, Jibir Adamu, Abdu Musa

CBN Journal of Applied Statistics (JAS)

This study investigates the impact of Nigerian government expenditure (disaggregated into capital and recurrent) on economic growth using time series data for the period 1970-2019. The paper employs Autoregressive Distributed Lag (ARDL) model. To ensure robustness of results, the study accounts for structural breaks in the unit root test and the co-integration analysis. The key findings of the study are that capital expenditure has positive and significant impact on economic growth both in the short run and long run while recurrent expenditure does not have significant impact on economic growth both in the short run and long run. The study …

Does Bitcoin Use Affect Crime Rates?, Kevin Keane

The Corinthian

Bitcoin is the most widely used cryptocurrency in the world because of its decentralized network that completes user-to-user transactions, eliminating the need for intermediaries. During 2017, the volume of Bitcoin transactions totaled $94.3 trillion. Bitcoin transactions are recorded in a public database called the blockchain. Although the blockchain can keep track of how many transactions there are, it can’t identify the people involved in transactions. The lack of identity increases the anonymity of Bitcoin transactions, making it less detectable when used for crime. Using the Uniform Crime Reporting’s state-level crime rate data and blockchain’s Bitcoin transaction information, I estimate the …

The Influence Of Foreign Elite Rhetoric: National Identity, Emotions, And Attitudes Toward Austerity, Alessandro Del Ponte

Political Science Faculty Articles and Research

How does foreign elite rhetoric affect citizens’ emotions and attitudes about austerity? In a survey experiment conducted on the online blogs of the two major Italian newspapers, participants read a fictional news article where the German Chancellor addressed Italians. Across treatments, I varied whether the message blamed or praised Italians, and whether the message focused on economic or symbolic concerns. Praise generated enthusiasm whereas blame spurred anger and anxiety. Moreover, respondents with a strong national or European identity who read a message of praise were more enthusiastic, less angry, and less opposed to austerity. Finally, people who identify strongly with …

Writing Tips For Economics Research Papers, Plamen Nikolov

Economics Faculty Scholarship

No abstract provided.

Producer Services: An Engine For High-Wage Job Growth, Spencer Cook, Eric Thompson

Business in Nebraska

Producer services providers are firms that sell services primarily to the business community rather than to individuals and households. Many producer services businesses are classified in the professional, scientific, and technical service (PSTS) industry. Accounting firms, consultants, and computer design services are prominent examples of PSTS businesses that are worth studying for three reasons:

1. SUPPORT OF OTHER INDUSTRIES: PSTS industries supply the broader business community, making them a critical segment of the economy.

2. RAPID HIGH WAGE JOB GROWTH: Many PSTS industries are rapidly growing and pay high wages. The producer services sector, in fact, is the principal source …

Housing Equity And Household Consumption In Retirement: Evidence From The Singapore Life Panel©, Lipeng Chen, Liang Jiang, Sock Yong Phang, Jun Yu

Research Collection School Of Economics

Housing affordability for elderly homeowners involves an entirely different set of issues as compared to housing affordability for first-time homeowners. To afford to ‘age-in-place’ may require homeowners to access channels that enable them to withdraw their housing equity to finance consumption in retirement. We utilize data from the Singapore Life Panel© survey to empirically investigate the impact of housing equity on the consumption of elderly households. Based on panel analysis, we find housing equity value has no significant impact on non-durable consumption for elderly people. The conclusion holds for a battery of robustness checks. Moreover, heterogeneity analyses based on subsamples …

Raise The Seawalls: Local Governments & Flood Protection, Felix Stetsenko

Undergraduate Economic Review

Rising seas and more frequent and severe storms are increasing the risks and costs of flooding. Using 2009-2018 data for the U.S. state of Florida from FEMA’s Community Rating System program (CRS), which scores participating local governments on their flood risk mitigation activities: I study (1) whether increasing flood risks have led to increases in program participation and score among Florida towns and cities; (2) what risk, fiscal, and demographic factors are driving local governments to invest in CRS-recognized flood risk mitigation measures; and (3) the association between CRS measures and home values.

The Dutch Credit Guarantee Scheme (Netherlands Gfc), Lily Engbith

Journal of Financial Crises

As fallout from the global financial crisis intensified in October 2008, governments around the world sought to implement stabilization measures in order to calm and protect their domestic markets. While not directly exposed to the subprime mortgage crisis, the Kingdom of the Netherlands announced the creation of the Dutch Credit Guarantee Scheme (the Guarantee Scheme) on October 13, 2008, to boost confidence in interbank lending markets and to ensure the flow of credit to Dutch households and companies. In establishing this program, the Dutch State Treasury Agency of the Ministry of Finance (DSTA) committed €200 billion to support the issuance …

The State Guarantee Of External Debt Of Korean Banks (South Korea Gfc), Lily S. Engbith

Journal of Financial Crises

Following the Lehman Brothers bankruptcy of September 15, 2008, a number of foreign governments enacted stabilization measures in order to bolster their currencies and inject much-needed liquidity into domestic markets. As part of its effort, the Korean Ministry of Strategy and Finance announced a series of government interventions that included a three-year guarantee of foreign debt issued (including extensions of maturity) by domestic banks between October 20, 2008, and June 30, 2009. This opt-in program was introduced as a preemptive step in ensuring that Korean financial institutions would retain competitive access to external funding in the wake of the global …

The Italian Guarantee Scheme (Italy Gfc), Lily Engbith

Journal of Financial Crises

The collapse of Lehman Brothers on September 15, 2008, and its severe impact on global credit markets impelled governments around the world to enact stabilization measures to calm and protect their domestic economies. The Italian Republic, while not directly affected by the US subprime mortgage crisis, preemptively implemented emergency procedures and programs to ensure the stability of their banking system. Announced with the passage of Decree-Law No. 157 on October 13, 2008, and legally enforced under Law 190/2008 of December 4, 2008, the Italian Guarantee Scheme (the Guarantee Scheme) was aimed at protecting institutions whose interbank lending abilities had the …

The Guarantee Scheme For Bank Funding In Finland (Finland Gfc), Lily Engbith

Journal of Financial Crises

As the global financial crisis raged in October 2008, its severe impact on global credit markets impelled governments to enact stabilization measures to calm and protect their domestic economies. The Republic of Finland, though not directly affected, designed preemptive interventions to mitigate disruption to its financial system. Among them was the Guarantee Scheme for Bank Funding in Finland (the Guarantee Scheme), announced on October 22, 2008, and implemented on February 12, 2009, which aimed to support banks and mortgage institutions with their short- and medium-term financing needs. Under the program, the Finnish State Treasury made up to €50 billion available …

Denmark's Loan Bills Temporary Credit Facility (Denmark Gfc), Keni Sabath

Journal of Financial Crises

The loan bills temporary credit facility was first implemented in May 2008, before the Global Financial Crisis had truly hit Denmark. It continued to be utilized as part of a broader effort to increase interbank lending after the collapse of Lehman Brothers in September 2008. The objective of the loan bills scheme was to facilitate lending among financial institutions. Each week, loan bills could be pledged as collateral for a seven-day loan from Denmark’s central bank, Danmarks Nationalbank. One banking institution could borrow from another institution by issuing a loan bill, and the institution buying the bill could raise liquidity …

Denmark's Excess-Capital Temporary Credit Facility (Denmark Gfc), Keni Sabath

Journal of Financial Crises

During the interbank market freeze following the Lehman Brothers collapse in September 2008, Denmark’s central bank, Danmarks Nationalbank, used a series of unconventional monetary policy instruments to increase market liquidity. One such action included the introduction of the excess-capital temporary credit facility, also known as the solvency scheme. Under this facility, credit lines from Danmarks Nationalbank could be provided to banks and mortgage-credit institutions on the basis of their excess capital adequacy, calculated as the difference between their base capital and their capital need. The purpose of this facility was to ease the tight liquidity situation by providing access to …

The United Kingdom's Corporate Bond Secondary Market Scheme (U.K. Gfc), Claire Simon

Journal of Financial Crises

In late 2008, at the height of the Global Financial Crisis, increased liquidity premia and risk aversion in the secondary market hindered companies’ ability to issue corporate bonds. In response, in January 2009, Her Majesty’s Treasury authorized the Bank of England to establish a facility to purchase commercial bonds through the Asset Purchase Facility. In March 2009, the Bank of England published details on the Corporate Bond Secondary Market Scheme, in conjunction with its quantitative easing program. Under the scheme, the Bank acted as a market maker of last resort in the secondary bond market, making regular purchases of a …

Japan's Special Funds-Supplying Operations (Japan Gfc), Alec Buchholtz

Journal of Financial Crises

Following the collapse of Lehman Brothers in September 2008, the global commercial paper (CP) market began to tighten as interest rates rose and investors sought more-liquid money market securities. The Bank of Japan (BOJ) introduced several measures in late 2008 to make liquidity available to nonfinancial corporations that were strapped for cash. In December 2008, the BOJ implemented special funds-supplying operations in order to provide unlimited liquidity to banks and other financial institutions so they could continue to fund nonfinancial corporations. The BOJ would provide one- to three-month loans against an equal value of eligible corporate debt at a rate …