Economic Policy Commons^™

The Wider Context: The Future Of Capital Markets Regulation In Developed Markets, Cally Jordan

Faculty Papers & Publications

At a time of such great turbulence, looking to the future directions of capital markets and their regulation in developed economies is a particularly risky business. We are in the midst of a great sea change. Nevertheless, there are several current, and readily observable, phenomena which are likely to shape capital markets regulation in the near future. First of all, the blurring of the distinctions between developed and developing markets themselves, as well as that between domestic and international markets, has put into question the adequacy of existing regulatory frameworks. Also, the transatlantic dialogue, London – New York, has given …

The (Non) Effect Of Natural Resource Dependence On Capital Accumulation In Latin America, Luisa Blanco, Robin Grier

School of Public Policy Working Papers

In a simultaneous model of human and physical capital accumulation for 17 Latin American countries from 1975 to 2004, we show that overall resource dependence is not significantly related to physical and human capital. Disaggregating the natural resource variable into subcategories, we find that petroleum export dependence is associated with higher physical capital and lower human capital, while agricultural export dependence is often associated with lower levels of physical capital. All of these effects are quantitatively small, however, casting doubt on the idea that natural resource dependence has stifled the accumulation of capital in the region.

The Impact Of Spatial Interdependence On Fdi In Latin America, Luisa Blanco

School of Public Policy Working Papers

This analysis considers whether spatial interdependence is an important determinant of foreign direct investment (FDI) in Latin America. Two types of spatial interdependence are explored: 1) surrounding market potential and 2) spatial autocorrelation of FDI. Using a sample of 17 Latin American countries, with observations from 1986 to 2006, we find that spatial interdependence matters for world net FDI in the region. Surrounding market potential has a positive effect on FDI of significant magnitude, but there is no evidence that FDI is spatially autocorrelated. Other contributors to FDI in this analysis include governance, specifically control of corruption, and exports of …

Informal Labour In India And Indonesia: Surmounting Organizing Barriers, Tonia Warnecke, John Folkerth

Faculty Publications

A key aspect of facilitating a transformation to a more just and equitable society should be the facilitation of decent work, through the adoption of labour standards. Yet the majority of workers in the global South are engaged in vulnerable, informal work that offers very little (if any) welfare protection While there are many possible ways to improve the conditions of work in the informal sector, this paper focuses on organizing workers as an agent for change. Organizing the informal sector is particularly important given the general lack of labour law enforcement in the developing world; unions and non-governmental organizations …

Structurally Unbalanced: Cyclical And Structural Deficits In Arizona, Matthew Murray, Kristin Borns, Susan Clark-Johnson, Mark Muro, Jennifer Vey, Brookings Mountain West, Morrison Institute For Public Policy

Brookings Mountain West Publications

Though the Great Recession may be officially over, all is not well in Arizona. Three years after the collapse of a massive real estate “bubble,” the deepest economic downturn in memory exposed and exacerbated one of the nation’s most profound state fiscal crises, with disturbing implications for Arizona citizens and the state’s long-term economic health. This brief takes a careful look at the Grand Canyon State’s fiscal situation, examining both Arizona’s serious cyclical budget shortfall—the one resulting from a temporary collapse of revenue due to the recession—as well as the chronic, longer-term, and massive structural imbalances that have developed largely …

Structurally Unbalanced: Cyclical And Structural Deficits In California And The Intermountain West, Matthew Murray, Susan Clark-Johnson, Mark Muro, Jennifer Vey, Brookings Mountain West, Morrison Institute For Public Policy

Brookings Mountain West Publications

Though the Great Recession may be officially over, economic recovery is slow and tentative, particularly in California and much of the Intermountain West. Among other challenges, the protracted downturn in these states has exposed and aggravated a huge public-sector fiscal crisis—with disconcerting implications for citizens and states’ long-term economic health. This brief takes a careful look at the fiscal situation in Arizona, California, Colorado, and Nevada, examining both their serious cyclical budget shortfalls—those resulting from the recession and its aftermath—as well as the critical longer-term structural imbalances between revenues and expenditures that have developed in Arizona, California, and, to a …

Africa's Economic Resurgence: Is It Possible?, Alka Jauhari

Political Science & Global Affairs Faculty Publications

Economic theory suggests that inequality between nations is caused by a failure to strike an optimal balance between capital, goods, and labor within a framework of appropriate rules and regulations. This leads to misallocation of a nation's resources - both capital and physical - resulting in distorted use and flow of capital and goods. Politics, regulation and policy-making lie at the heart of such "distortions" which come at a huge cost to societies. Due to these distorted flows, Africa was left behind in the race for economic development, as compared to the other regions of the world. Such distortions have …

Can Allocation By Sortition Resolve The Connecticut Education-Financing Impasse?, A. E. Rodriguez, Lesley Denardis

Political Science & Global Affairs Faculty Publications

It has been over 40 years since Connecticut amended its Constitution to ensure citizens a right to a free public education. Despite the constitutionally prescribed right, dramatic inequities in educational conditions continued to characterize the state's K-12 educational system, especially between suburban/rural white and urban minority school districts. In the 1970s plaintiffs challenged the prevailing mechanism for allocating education funds with a host of court cases that tackled the thorny question of how much financial responsibility the state should assume to equalize the spending disparities between school districts. Prodded by court decisions, many formulas and approaches have been proposed by …

Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh

CMC Senior Theses

This paper weights the relative advantages of multiple factors that lead to the success of professional sports stadiums in major markets, though a discussion of the arguments for and against public subsidies towards these projects. Using a logit statistical model, the paper determines that the two factors determining the highest likelihood of venue success include multiple tenants and access to mass transit. The analysis demonstrates that public subsidies towards stadiums don’t generate sufficient economic returns, and that successful stadiums can be created without using taxpayer funds.

Public Dollar Private Owners; Tax Subsidies For New Stadiums In Professional Sports, Grant J. Bunnage

CMC Senior Theses

The growing popularity of North American professional sports over the last twenty years directly coincides with the recent trend of urban communities using tax dollars to publically subsidize professional football, baseball, and basketball stadiums. Communities across North America invest substantial amount of public tax dollars in private facilities in light of a consensus among policy analysts that the economic impact of the new stadium is greatly exaggerated. The economic impact of new stadiums has been extensively researched, the focus  of this paper rather, is to examine the impact publically subsidized facilities built in the last twenty years have on the …

Local Economic Development: Researching Clusters In Woodford County, Kentucky, Tom Middleton

MPA/MPP/MPFM Capstone Projects

Woodford Tomorrow, a citizen economic development planning group in Woodford County, is interested in promoting cluster development. Clusters are a geographic concentration of businesses and institutions which interact and collaborate within a particular economic sector. This report provides quantitative analysis of three clusters: (1) health, (2) agriculture, and (3) arts, entertainment, and tourism. The majority of this data comes from the consulting firm Economic Modeling Specialists Inc.

The agriculture cluster has many industries, specifically in the crop and animal production and manufacturing sectors, which appear to be potential industries to target. The hotel and motel industry seems to be an …

Effects Of Free Trade Areas In Trade Promotion: Gravity Model Approach, Mona Jit Mui Lim

Dissertations and Theses Collection (Open Access)

Since the early 1990s, the world has seen a proliferation of Free Trade Agreements (FTAs). One of the key objectives of FTAs is to expand trade between or amongst its signatories. This study explores the intra-FTA and extra-FTA trade expansion capability of 3 types of FTA: North-North FTA (European Union (EU)-15 as a representative), North-South FTA (North America Free Trade Agreement (NAFTA) as a representative) and South-South FTA (Association of Southeast Asia Nations (ASEAN ) Free Trade Agreement (AFTA) as a representative). The study made an attempt to address the spread of such FTA-led trade expansion amongst the members and …

The Tea Party, The Constitution, And The Repeal Amendment, Randy E. Barnett

Georgetown Law Faculty Publications and Other Works

Given that the Tea Party is a right-of-center movement, it does not take an empiricist to know that most Tea Partiers hold right-of-center views on a variety of issues. This does not mean, however, that the Tea Party movement is about immigration policy or social issues like abortion, any more than the gun-rights movement is about any other beliefs that may be held by a majority of gun-rights advocates. Instead, the Tea Party movement is about two big subjects: first, the undeniable recent surge in national government spending and debt, and second, what Tea Partiers perceive as a federal government …

Monetary Policy In Singapore And The Global Financial Crisis, Hwee Kwan Chow, Peter Wilson

Research Collection School Of Economics

Prior to the crisis the consensus amongst central bankers in advanced economies was that price stability, in the form of low and stable price inflation, was a top priority for monetary policy and could best be achieved by targeting interest rates (usually overnight) or monetary aggregates, such as Narrow Money (M1) and Broad Money (M2). Liquidity in the banking system could be flexibly adjusted on a daily basis through open market operations to increase or decrease the monetary base which would be transmitted to the rest of the economy through financial intermediation. Financial markets would then adjust longer-term interest rates …

Administration Without Borders, Jonathan G.S. Koppell

Publications from President Jonathan G.S. Koppell

To thrive in 2020, we must conceive of the field of public administration in the broadest possible terms. Phenomena that typically have been treated peripherally in our literature are emerging center stage in recent years, confirming that the “old” boundaries of our discipline do not reflect contemporary reality. After reviewing three key developments—the rise of mixed and nongovernmental institutions in public policy, the increasing importance of market mechanisms, and the assertion of meaningful global regulation—an argument is made for a broader reconception of “publicness” that goes hand in hand with the embrace of governance in lieu of administration.

Recent Legislation To Promote Wind Energy In Nebraska, Ryan Lemke

Department of Environmental Studies: Undergraduate Student Theses

Nebraska is currently ranked 4th in the nation for wind energy potential, but ranks low in actual wind power production. The lack of wind energy production could be the result of Nebraska’s unique public power districts that have eminent domain of distribution and retail sales of electricity in the State. Public Power districts are prohibited from receiving benefits of state and federal tax incentives for the development of wind farms, however some Nebraska power districts still pursue wind energy as a renewable source of energy.

Recent legislation changes, including the passing of laws LB629 and LB1048, have provided the State …

Demographic Analysis Of Recovery Act Supported Jobs In Massachusetts, Quarters 1 And 2, 2010, David Sparks, Paige Ransford, Carol Hardy-Fanta, Christian Weller, Meryl Thomson, Robert Turner

Publications from the Center for Women in Politics and Public Policy

Massachusetts policy makers decided to go beyond existing ARRA federal reporting requirements and collect additional data in order to gauge the effectiveness of ARRA’s fiscal policy by counting the number of individuals who have received an ARRA-funded paycheck. In addition, policy makers wanted to look at some of the demographic characteristics of this population. This report provides an in-depth analysis of the data that the MA Recovery Office collected during the first and second quarters of 2010, with a particular focus on job creation and retention by race, ethnicity, gender, disability status, and geographic location.

Highlights of the report include: …

Economic Writing On The Pressing Problems Of The Day: The Roles Of Moral Intuition And Methodological Confusion, Julie A. Nelson

Economics Faculty Publication Series

Economists are often called on to help address pressing problems of the day, yet many economists are uncomfortable about disclosing the values that they bring to this work. This essay explores how an inadequate understanding of the role of methodology, as related to ethics and human emotions of concern, underlies this reluctance and compromises the quality of economic advice. The tension between caring about the problems, on the one hand, and writing within the existing culture of the discipline, on the other, are illustrated with examples from U.S. policymaking, behavioral economics, and the economics of climate change and global poverty. …

At-Will Employment In The Public Sector: A Case Study Of The Georgia Reform, Olayinka Tejuoso

Dissertations, Theses and Capstone Projects (Full IR Collection)

Prior to the advent of at-will employment, elected officials and public managers have laid blame on government in the United States of being distended, unproductive, and impassive. The Civil Service Reform Act of 1978 abolished the Civil Service Commission and endorsed reformation of workforce practice and policies. Many states in the United States have followed suit, but with limited measures (Battaglio 2010). It is apparent, nonetheless, that a lot of political executives and professional managers have lingered on in aggravation, and are pushing for more considerable influence and stiffness over employees. As a consequence of at-will employment over the years, …

Facing Up: Managing Diversity In Challenging Times, Carol Hardy-Fanta, Paige Ransford

Publications from the Center for Women in Politics and Public Policy

Since its launch in 2008, Commonwealth Compact has grown steadily, employing several strategies to promote diversity statewide. The Benchmarks initiative has collected data, analyzed in this report, on a significant portion of the state workforce. Guided by Stephen Crosby, dean of the McCormack Graduate School of Policy and Global Studies at UMass Boston, Commonwealth Compact has conducted newsmaking surveys of public opinion and of boards of directors statewide. In addition, it has convened ongoing coalitions with its higher education partners, and established a collaborative of local business schools aimed specifically at increasing faculty diversity. The Compact has sponsored or co-sponsored …