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The Relationship Between Foreign Direct Investment And The Macro Economy
In this thesis, I first investigate the relation between the aggregate unemployment rate and foreign direct investment (FDI) inflows and outflows. To study this relationship, I use a panel data set that contains 45 (developed and developing) countries observed from 1987 through 2008, and I employ Arellano and Bonds generalized methods of moments (ABGMM) estimation method for dynamic panel data. My results show that FDI inflows and outflows are not determinants of the aggregate unemployment rate. In addition, in line with macroeconomic theory, the previous level of aggregate unemployment has a positive impact on the current level of aggregate unemployment. Again, as macroeconomic theory suggests, my results show that per capita real gross domestic product (RGDP) has a negative effect on the current level of aggregate unemployment. Second, I study the long-run relationship between exports and per capita gross domestic product (instrumented by total population) using a panel data set of 51 countries from 1970 through 2008. To study this relationship, I employ the dynamic ordinary least squares (DOLS) estimation method. I find that the percentage of exports in nominal gross domestic products (GDP) is sensitive to changes in the populations of host countries and, hence, to the changes in their GDP. In addition, my results show that the agreement on trade related investment measures increased the percentage of exports in the nominal GDP of developed host countries more than it did in developing host countries.
Teaching Points in Comparing the Great Depression to the 2008-2009 Recession in the United States
For an introductory macroeconomics course, the discussion of historical relevance helps foster important learning connections. By comparing the Great Depression to the 2008-2009 recession, a macroeconomics instructor can provide students with connections to history. This paper discusses the major causes of each recession, major fiscal policy and monetary policy decisions of both recessions, and the respective relevance in teaching the relationship of each policy to gross domestic product. The teaching points addressed in this paper are directed towards an introductory college-level macroeconomics course, incorporating a variety of theories from historical and economic writers and data from government and central bank sources. A lesson plan is included in an appendix to assist the instructor in implementing the material.
An Open Economy Model of Pakistan : Relative Effectiveness of Monetary and Fiscal Policy
This thesis examines the relative effectiveness of monetary and fiscal policy in Pakistan by utilizing an open economy framework. There is a great need for research about the effectiveness of macroeconomic policies as the knowledge of the relative importance of monetary and fiscal policy could prove useful to policymakers and help them understand the macroeconomic adjustment processes of these policy measures.
A Study on U.S. Japanese Foreign Trade
This research presents an in depth discussion and analysis on U.S. Japanese foreign trade. It is divided into two parts. The first hypothesis states that the appreciation of the dollar in the early eighties is positively correlated with the U.S. trade deficit, especially with Japan. The second hypothesis states that Friedrich Von Hayek's Theory of Social Order applies to the development of capitalism in that country. This can also be divided into two parts, a) this generation of Japanese consumes, saves, and invests differently than previous generations, and b) Japanese consumption and investment patterns follow U.S. consumption and investment patterns with a lag.
Characteristics of Texas Border and Non-Border Banks and a Comparison of their Lending Practices
This thesis presents a comparison of the loan to deposit ratios of Texas banks along the Mexican border and banks located throughout the rest of the state. Mean characteristics of the two groups (i.e. border and non-border groups) are presented. A multivariate regression model is used to examine the extent to which various operating ratios of the banks and differing economic conditions of the communities in which the banks are located help explain the loan to deposit ratios of the banks involved in this study. The model incorporates data from 1984-1989. No evidence was found to refute the hypothesis that Texas border banks have a lower loan to deposit ratio than their non-border counterparts. The evidence points to a need for developmental capital, supplied by some form of development bank.
U.S. - China Bilateral Trade 1972 - 1992
The main task of this thesis is to investigate economic implications of U.S.- China trade. The study period covers from 1972 to 1992. Data are available from International Financial Statistics, Survey of Current Business, Statistical Yearbook of P.R.China. Various hypotheses are employed to explain the basis and gain of trade, the impact of trade on both economies, and the major determinants of bilateral trade flows. This thesis contains five parts: I. Introduction; II. Outlook; III. Theoretical Analysis; IV. Empirical Study; and V. Conclusion. The major findings of this thesis are that both countries have gained advantages from trade and have also faced some unpleasant problems; several widely recognized theories serve as good approaches to understand these issues; the time series distributed lag models are helpful in explaining the determinants of trade flows.
Effect of Firm Size on Female Earnings
There are various factors effecting females' wage level such as marital status, occupation, education, and experience. This paper also includes firm size and answers the questions: What effect does firm size have on female earnings? Is that effect different for black than white females?
A Cross-National Study of the Effects of Direct Foreign Investment on the Developmental Process of Developing Countries
Using the assumptions of various schools of thought on development as the theoretical framework, an attempt is made to examine the effects of foreign investment on the socioeconomic growth of 50 developing countries by means of multiple regression models that utilize some external and internal variables assumed to affect the growth rate of GNP. Results from these models indicate that new inflows of foreign investments and amounts of domestic investments are positively related to growth while accumulated stocks of foreign investments have no effect on growth. This suggests that development funds, designed specifically for increased domestic investments, would be the most effective way to increase GNP.
The Realities of the Informal Sector in Kenya and its Economic Implications
This thesis is focused on informal sector establishments in Kenya and how they contributes to employment creation, income generation and economic development. The research examines how the informal sector has developed between the years 1986-1989. The study indicates that the informal sector can absorb those people who are unemployed and cannot find jobs in the formal sector. The first chapter describes the definition and interpretation of the informal sector. The discussion of the related .literature, development of the informal sector, politics of the urban informal sector and controversies are described in chapter II. Chapter III describes the regional and sectoral analysis in employment generation. Chapter IV focuses on projections and promotion policies. Concluding remarks and the importance of the informal sector are represented in chapter V.
Price Elasticity, J-Curve, and the Balance of Trade: An Econometric Study of Bangladesh
The question for this thesis is whether the static and the dynamic theory of international trade stability holds in reality in Bangladesh.
Malaysian Natural Rubber Industry: An Econometric Analysis on the Elasticity of Supply and Demand Approaches
The popularity of natural rubber as an important raw material was distorted in the post-World War Two period. It received heavy competition from synthetic rubber. The main purpose of this paper is to determine and to study supply elasticity and demand elasticity of natural rubber in the case of Malaysia. The main aim of analyzing the period since 1971 is that both price and quality competitiveness of Malaysian natural rubber have drastically improved. Therefore, in order for Malaysia to maintain her position as the leading producer and exporter of natural rubber in the world, supportive policies and incentives from the government would further enhance the prospects for improvements in this industry.
A Study on the Successful Self-Employed in Malaysia
In a dualistic labor market, self-employment is classified as the informal sector because its members are usually unable to find formal jobs. In big cities throughout the world it has been reported that the urban self-employed are often faced with highly restrictive government regulations in the belief that they do not contribute very much to the output. This thesis studies the factors that can explain the successes of these self-employed such as the extent of their capital, entrepreneurial experience, and education. The discriminant analysis is used throughout the study.
Do Predictions of Professional Business Economists Conform to the Rational Expectations Hypothesis?: Tests on a Set of Survey Data
A set of forecast survey data is analyzed in this paper for properties consistent with the Rational Expectations Hypothesis. Standard statistical tests for "rational expectations" are employed utilizing consensus forecasts generated by an interest rate newsletter. Four selected variables (Fed Funds rate, M1 rate of growth, rate of change in CPI, and real GNP growth rate) are analyzed over multiple time horizons. Results tend to reject "rational expectations" for most variables and time horizons. Forecasts are more likely to meet "rationality" criteria the shorter the forecast horizon, with the notable exception of forecasts of real GNP growth.
A Macroeconomic Approach to the Growth of the Bolivian Informal Sector
This thesis attempts to measure the growth of the Bolivian informal sector. The study estimates the growth of the informal sector by defining it as the difference between the formal sector's reported real gross national product (GNP) and forecasted values of real GNP. The first chapter describes the Bolivian economy, defines its informal sector, and presents reasons for this sector's growth. Related research in informal activity, theoretical discussions, and perspectives are presented in the second chapter. Chapter III describes methodological research used in the analysis of the data. Chapter IV describes the results of the investigation. Conclusions and recommendations for the informal sector are provided in chapter V. The results show that it is possible to measure informal activity in a macro setting
A Study of the Interdependence of Four Major Stock Markets Using a Vector Autoregression
The question for this thesis is whether the four major stock markets--the United States, Great Britain, West Germany, and Japan are interdependent or segmented. The study period runs from February 1979 to June 1987, with the Wall Street Journal as a source of data. The Granger causality test is used to test for relationships among the four major stock markets. The thesis is divided into five chapters-- 1) statement of the problem; 2) survey of literature; 3) methodology; 4) results and 5) conclusions. The overall findings of this thesis indicate that there are few or no comovement similarities among all the four stock markets. However, the findings do point out the significant influence of the United States stock market on the other three stock markets.
Corporate Tax Rates and the Purchasing Power Parity Doctrine
This thesis analyzes the effect of corporate tax rates on the purchasing-power-parity (PPP) doctrine. The data used to test this hypothesis are drawn from the U. S., the U. K., the Federal Republic of Germany, Canada, and Japan. The first chapter introduces the reader to the concepts of the PPP doctrine and states the hypothesis. Chapter 2 reviews the literature on the PPP doctrine. Chapter 3 specifies a model of the PPP doctrine including tax rates. Chapter 4 reports and interprets the findings. The study is summarized and conclusions are drawn in chapter 5. In this study it is shown that tax rates are significant only in the case of the U. S. dollar/Canadian dollar exchange rate.
Stock Returns and the Brazilian Default an Analysis of the Efficient Market and Contagion Effect Hypotheses
This thesis attempts to analyze the market response of stock prices of major U.S. banks to the February, 1987 Brazilian loan default announcement. The study's general hypothesis is that the market revalued stock prices according to each bank's amount of Brazilian loan exposure. The first chapter examines the significance of the default announcement. A survey of related literature is presented in the second chapter. Chapter III specifies the methodological techniques involved in analysis of the data. Chapter IV reports the findings of the study. Conclusions about the results are drawn in Chapter V. The results indicate the market is efficient. They also suggest that individual exposure was the major determinant of bank stock price decline.
Population Growth and Socioeconomic Development in Nigeria 1960 - 1984
This study is directed toward the relationship between population growth and socioeconomic development in Nigeria for the period 1960-1984. A controlled population growth would positively affect every segment of the economic and social environment. With hunger and starvation, disease, poverty and illiteracy plaguing large portions of the world, Nigeria's limited resources would best be utilized if shared among a smaller population, Nigeria, like other developing African countries, does not have an official population control policy. The diversity in the Nigerian culture, the controversial nature of the subject of population control, and possibly, implementation difficulties, account for the absence of a population control policy in Nigeria. This study offers in its concluding section some policy recommendations on how to tackle Nigeria's population problem.
The Analysis of the Demand for Residential Water in the City of Denton
The main objective of this study is to analyze the demand for water in Denton. The data used for the study are obtained from the City of Denton Utilities Department, the Tax Appraisal District and government documents. The 121 households which have perfect ten years historical data of water consumption were selected to be the representatives of all households in Denton. The study reveals that the change in water consumption significantly relates to the change in marginal price. Furthermore, the weather variables also have strong effects on the water consumption, especially during summer. The coefficients of income and a "difference" variable are found to have the opposite sign but are not equal in magnitude. In fact, they should be equal in magnitude, but opposite in sign. While the estimated coefficients on all independent variables were highly significant statistically, the resulting coefficient on the house size variable was statistically insignificant in the model test. The results show that the difference variable is required in the model. It also had some effect on the water consumption. It is found that there is a small change in water consumption when the lot size is increased.
Estimating Residential Water Demand: a Case of Multiple-Part Tariff for Denton, Texas
This paper analyzes the demand for water in case of a multiple-part tariff in Denton, Texas. The model used is developed from Billing & Agthe's model by using the following variables: marginal price, difference variable, tax assessed value, lot size, house size, temperature and rainfall.. The results indicate that temperature has the greatest effect on water demand, since this area is considered to be a very warm area. Also, marginal price seems to have a strong effect on water consumption indicating that customer is well-informed to a change in rate schedule. This test supports the original idea of the previous articles that the coefficient on difference variable and that on income should have the opposite sign. However, this test can not prove that those coefficients should be equal in magnitude, since the proxy of the income variable can not represent the individual monthly income. In addition, this article introduces another variable which can be a proxy of outdoor water use. That is lot size showing the effect on water demand. The last variable used in the model, house size,does not have much effect on water demand and is dropped out in the final model.
A Qualitative and Quantitative Analysis of the Redistribution of Regional Economic Growth
Utilizing shift/share and economic base analysis, data covering employment, income, and population are analyzed for each of the nine regions of the United States as defined by the Census Bureau. The study covers 1970 through 1984 because widespread redistribution of employment and a shift toward more service-oriented, white collar jobs occurred during this period. This study presents currents trends and recommends ways in which people may better prepare for the future.
The Relationship Between an Industry Average Beta Coefficient and Price Elasticity of Demand
The price elasticity of demand coefficient for a good or service is a measure of the sensitivity, or responsiveness, of the quantity demanded of a product to changes in the price of that product. The price elasticity of demand coefficients were generated for goods and services in nine different industries for the years 1972 to 1984. A simple linear demand function was employed, using the changes in the Consumer Price Index as a proxy for changes in price and Personal Consumption Expenditures, taken from the National Income and Product Accounts, as a proxy for quantity. Beta measures the sensitivity, or responsiveness, of a stock to the market. An industry average beta coefficient was generated for each of the nine industries over the time period, using the beta coefficients published by Value Line for firms which met certain criteria. In order to test the relationship between the price elasticity of demand and an industry average beta coefficient, a simple regression was performed using the beta coefficient as the dependent variable and the price elasticity of demand coefficient as the independent variable. The results broke down into 3 basic categories: those industries for which there seemed to be no relationship, those industries where there was a fairly strong probability that a relationship exists and the price elasticity of demand explains at least part of the variation in beta coefficients, and those industries where there was a very high probability that a relationship does exist and the variation in the price elasticity of demand coefficients substantially explained the variation in the industry average beta coefficients. The first category includes the food at home, tobacco, and shoe industries. The second category includes the men's clothing, the women's clothing, and the alcoholic beverages industries, and the third includes the automobile, airline, and fast-food restaurant industries.
A Comparison of Permanent and Measured Income Inequality
The degree of inequality present in the distribution of income may be measured with a gini coefficient. If the distribution is found to empirically fit a particular distribution function, then the gini coefficient may be derived from the mean value of income and the variation from the mean. For the purpose of this study, the Beta II distribution was used as the function which most closely approximates the actual distribution of income. The Beta II function provides the skewness which is normally found in an income distribution as well as fulfilling other required characteristics. The degree of inequality was approximated for the distribution of income from all sources and from ten separate components of income sources in constant (1973) dollars. Next, permanent income from all sources and from the ten component sources was estimated based upon actual income using the double exponential smoothing forecasting technique. The estimations of permanent income, which can be thought of as expected income, were used to derive measures of permanent income inequality. The degree of actual income inequality and the degree of permanent income inequality, both being represented by the hypothetical gini coefficient , were compared and tested for statistical differences. For the entire period under investigation, 1952 to 1979, the net effect was no statistically significant difference between permanent and actual income inequality, as was expected. However, significant differences were found in comparing year by year. Relating permanent income inequality to the underlying, structural inequality present in a given distribution, conclusions were drawn regarding the role of mobility in its ability to alter the actual distribution of income. The impact of business fluctuations on the distribution of permanent income relative to the distribution of actual income was studied in an effort to reach general conclusions. In general, cyclical upswings tend to reduce permanent inequality …
The Relationship Between Domestic Savings and Other Economic Indicators in Korea
This study is an analysis of the relationship between domestic savings and three economic indicators in the Republic of Korea during the 1950s through 1980s. While domestic saving is affected by many economic phenomena, the analysis is confined to national income, exports, and inflation. The study is divided into five chapters. These are entitled (1) Introduction, (2) Domestic Savings, (3) Income and Domestic Savings, (4) Exports and Domestic Savings, (5) Inflation and Domestic Savings. In chapter I, Korea and the Korean economy are introduced, and the scope of the study is stated. Chapter II reviews the related realm of domestic savings: definition, kinds, and determinants of domestic savings. Chapter III presents the relationship between different incomes and domestic savings, and shows non-labor income contributes more powerfully to the formation of domestic savings than labor income. Chapter IV contains effects of exports, and hypothesis testing. The effect of exports suggests that export expansion affects domestic savings positively via an increase in gross national product. Chapter V deals with the correlation between inflation and domestic savings, and its testing. The correlation between inflation and domestic savings is not generally clear except for some specific cases.
The Linkage Effect and Determinants of Direct Foreign Investment and Technology Transfer on a Developing Country's Industrialization: A Case Study of Taiwan
Industrialization has held great attention in developing countries. Taiwan has demonstrated rapid industrial development. The problem of this study is to find out, what incentives the government in Taiwan has provided to foreign investors, what contributions foreign investment has made to capital formation and government revenue, and what been its impact on foreign trade and the balance of payments. The results of our study conclude that DFI and technology transfer can have a significant positive impact on a developing host country's industrialization.
The Impact of the 1967 War on the Jordanian Economic Development
This thesis is an analysis of the Jordanian economic developmental process which demonstrates that it expanded rapidly between 1948 and 1970. During the period under study, Jordan had to face two wars, in 1948 and 1967, which had inverse effects on the economy. After each war, the economy experienced a period of recovery due primarily to government efforts to promote investment; the existence of a more educated people represented by the refugees; and the role of foreign aid. Chapter I is a brief introduction to the Jordanian economy. Chapter II is a discussion of some theories of economic development. Chapters III and IV provide us with a more detailed description of the economic situation before and after the 1967 war. However, the purpose of Chapter V is to incorporate the theory that appears to handle the processes discussed in both Chapters III and IV.
Nigerian Military Government and Problems of Agricultural Development
This thesis attempts to analyze the military government's role in solving the country's agricultural problems. This analysis is essential because it was during the military's stay in power that Nigeria's potential as a selfsufficient and food exporting nation declined. Materials collected to analyze the above problems reveal that the military government's lack of adequate personnel to supervise and implement decisions taken on agriculture, unplanned schemes, and unresearched projects were partly responsible for the government's inability to solve Nigeria's agricultural problems. While it may be necessary to blame the military government for not being able to completely solve the country's numerous agricultural problems, the presence of global political and economic decisions seriously hampered measures taken by the military government.
Some Causes of Inflation in Korea
The purpose of this study is to find causes of inflation in Korea. We hypothesized that inflation in Korea was a "mixed" inflation generated by not only monetary factors but also nonmonetary factors. The data was obtained mainly from International Finance Statistics (IMF) and Monthly Bulletin (The Bank of Korea). The first chapter introduces the Korean economy. Chapter two surveyed the effects of import prices, wages, and money supply in inflationary process. The third chapter studied some theoretical backgrounds of inflation. Chapter four analyzed the results of statistical tests. Finally, chapter five consisted of summary and policy implications.
Economic Development of the Oil and Natural Gas Sector in Bahrain
The problem with which this investigation is concerned is determining the viability of economic development in the oil and natural gas sector in Bahrain since its independence in August 1971, and the changing role of the government in shaping oil policies and managing downstream operations. This inquiry emphasizes the importance of cooperation and coordination in the oil industry among the Arab Gulf States. This study concludes that Bahrain's economy is passing through and era which will have one of two possible endings: one will protect the independence of the country and promote cooperation with the other Arab Gulf States as a transitional stage toward a board regional unity; the other will lead Bahrain to become a commercial outlet for Saudi Arabia.
A General Economic Study of Patterns of Government Expenditures in Thailand
An analysis of Thai government expenditures demonstrates that they expanded rapidly between 1900 and 1969, due primarily to rising prices and the extension of government functions, particularly during the post-war period. In contrast, the war effect had little influence on the growth of expenditures. During the period under study, Thai government expenditures were devoted largely to general, social, and economic services, with emphasis on transportation and communication, defense, agriculture, and education. Current expenditures (for defense, education, etc.) represented a higher percentage of total government expenditures than did capital expenditures (for public construction, social services, etc.). In general, the case of Thailand indicates that levels of government expenditure were higher in conjunction with greater emphasis on economic and social development.
The Harambee Movement and its Effects on Kenya's Economic Development
This paper examines the Harambee Movement and how it affected Kenya's economic development. Before 1963 Kenya was a British colony and economic development favored the colonial government. At Independence the new government tried to restructure the economy for the Kenyan people. Recognizing the lack of adequate capital and a rural development program, the movement became a means by which people could provide services for themselves. These services included schools, technical training, water supply and health facilities. Sources of data were books, articles, government publications and papers published by the Institute of Development Studies, Nairobi University. The Harambee Movement flourished in the provision of educational opportunities, clean water supply and health facilities. Problems included planning, coordinating and duplication of services.
Indigenous Private Enterprise in Nigeria
This study is directed towards the relationship between the economic environment in Nigeria and its indigenous private sector from 1960 to 1980. Nigeria practices mixed capitalism aided by the national government, foreign governments and international agencies. The 1972 and 1977 Indigenization Decrees were passed to eliminate foreigners from certain economic fields to be replaced by Nigerian citizens. The economic environment of Nigeria is less than suitable for the operation of modern business. Roads, telephones, telex services, electricity services, law and order and a few other critical underpinnings of business are inefficiently provided for in the economic system of the country. Despite the unfortunate economic environment Nigerian Entrepreneurs, especially the Ibos, have been particularly industrious. However, indigenous private enterprise in the country has not been especially successful.
OPEC: A Sustained Cartel?
The problem with which this paper is concerned is that of examining some ideas and predictions of some American economists about the survival of the Organization of Petroleum Exporting Countries (OPEC). This paper is divided into three parts; the first part includes the introduction, examines the importance of oil, and analyzes the history of the oil industry. This part is composed of Chapters I and II. Part two examines OPEC's formation and objectives and the cartel theory with concentration on OPEC. This part is composed of Chapters III and IV. Part three analyzes some economists' ideas regarding OPEC survival. It examines the economic and political realities of OPEC during the last two decades and discusses its present problems. This paper concludes that OPEC is a strong and sustained cartel.
Comparative Development with Large Endowments of Capital (Oil Revenue) Three Case Studies Nigeria, Iran, Libya
This study is an examination and comparison of the manner in which Nigeria, Iran and Libya used oil revenue for their economic development. The research methodology was the case study approach, utilizing statistical time series data, as well as a historical profile of each country's income and expenditure accounts. As a prelude to the oil injection, the pre-oil revenue economy, the history of the oil industry, and the previously implemented development plans of each of these nations is surveyed. The impact of the oil revenues on the standard of living and the non-oil sectors of these economies is examined. The paper concludes with projections concerning each country's ability to continue to promote economic development when its exhaustible oil reserves runs out.
Foreign Direct Investment and Political Risk
This paper will show that, despite the need for extension of foreign direct investment in the form of multinational corporations to capital-scarce, less developed countries, political risk creates a gap between the demand and supply of foreign investments. In Chapter II, the patterns of foreign direct investment are analyzed. Chapter III reviews the various sources of political risk and concludes that the existence of political risk is an obstacle to the formation of optimum level investment. Chapter IV discusses the relative positions of the less developed countries and the multinational corporations. Chapter V shows the problems caused by the absence of a universal, regulatory institution. Chapter VI presents case studies of corporations based in Chile, Peru, and Angola. Chapter VII suggests ways that political risk can be minimized.
Government Involvement in the Economies of Developed and Developing Countries
Although the government role in the economy has extended to include various sectors of the economy, there are still problems of the causes of government involvement and how such involvement is related to the structure and function of the industrial government. The purpose of this study is to test the government involvement phenomenon both theoretically and empirically. The study compares two approaches to the government theories. The first approach deals with theories of capitalism and focuses on the function of the government methods as they are observed. The second approach deals with theories of the capitalist government and focuses on the functions and the form of the government as deducted from the historical analysis.
The Continued Financial Stability of Social Security
The Social Security System is projected to encounter both short-term and long-term financial crises. The economic effectiveness and impacts of alternative solutions to both problems are analyzed. Government projections show the short-term deficit can be solved through interfund borrowing. Solving the long-term deficit will require the generation of new funds. All four solutions analyzed will increase unemployment, inflation, and interest rates, and decrease growth potential. A combination of increased OASI taxation and mandatory coverage is recommended as the most effective solution with the least adverse economic consequences.
Home Ownership within a National Housing Policy
Inclusion of home ownership in national housing policy indicates that home ownership should be available to everyone. National housing policy is assumed by the author to be contained in the Housing Act of 1949: a decent home and suitable living environment for all Americans. Findings are that preferential treatment of homeowners embodied in the U.S. tax and financial structure conflicts with restrictive monetary policy and with a full employment fiscal policy. Home ownership does not meet the needs of contemporary lifestyles or of low income families. Fiscal zoning restricts access to housing for low income families. The conclusion of this thesis is that home ownership is not available to all Americans under the present federal housing programs, and therefore should not be included in national housing policy.
The Economic Development of Thailand's Agriculture
Agriculture is usually the largest economic sector in developing countries. Typically, most of the countries' population is employed in this sector. The economic growth is dependent upon productivity in agricultural production and its export potential. Increased production and exports from this sector result in foreign exchange earning by which to promote development of the other sectors. Given the importance of agricultural development, this thesis attempts to study the impact of the agricultural sector on Thai economy and to examine some problems concerned with cultivation, production and marketing. The study also concentrates on the development of social overhead capital (i.e., transportation and irrigation systems), which play an important role in stimulating the growth of Thai agriculture. Finally, there are some conclusions and recommendations which may be useful to the government and its agencies concerned with the development of agriculture.
The Chilean Experience, 1970-1981
The election of a coalition of socialists and communists in 1970 and three years later, the assumption of a military government have led to much controversy around the world. This study attempts to analyze the economic conditions prevailing in Chile from 1970 to 1981. It examines the gradual deterioration of the nation's economy under the Unidad Popular government and the recovery that has taken place with the Junta Militar de Gobierno. The implementation of a market system in 1973 has been effective in bringing the nation out of economic chaos. The balance of payments is under control, inflation has been reduced, and since 1977 the nation's GNP has had an average annual growth of 7.7 per cent.
The Instrumental Theories of John Dewey and Clarence Ayres
The purpose of this analysis is to explain the instrumental theories of Dewey and Ayres; their analysis of societal problems and the proposed solutions; and finally their perception of the future direction of society. Dewey and Ayres both utilized the instrumental theory of value to analyze problems and propose solutions. According to this theory, something has value if it enhances or furthers the life process of mankind. Therefore, this should become the criterion to be utilized in determining the future courses of action. They both agree that policy decisions should be made with at least one goal in mind: progress.
Issues Involving the African Development Bank and its Activities to 1979
This paper examines the economic impact of the African Development Bank on the African continent and compares its resources and those of its counterparts, the Inter-American Development Bank and the Asian Development Bank. The first chapter of the paper discusses the evolution of regional development banks and presents the statements of the problem and the hypothesis of the study. The second chapter analyses the history of the African Development Bank Group, and the .third discusses its lending operations to 1979. The fourth chapter compares the lending activities and resources of the three regional development banks (African, Inter-American, and Asian), and the final chapter presents the paper's conclusions and recommendations.
Medical Technology and its Relation to Health Care Costs
The purpose of this study is to demonstrate that within the United States health care system, a number of institutions have evolved which have given rise to a perverse set of incentives that direct technological change. As a result of these incentives, the diffusion and utilization of new and existing technologies is carried out in a random and indiscrete fashion, subsequently placing upward pressure on the costs of health care. This analysis relies on the empirical work, observations, and writings of a large number of physicians, social scientists, hospital administrators, and federal bureaucrats.
Foreign Aid in Kenya: Its Applications and Effects on Kenya's Economic Development, 1963-1975
Primary sources were provided by the Kenyan Embassy to the U.S.A., Kenya tourist offices in the U.S.A. and West Germany, the Economics Department at the University of Nairobi, the Ministry of Finance in Kenya, the Institute of South Africa, and the United Nations. The first chapter provides a brief explanation of the historical and economic development Kenya has experienced since independence. Chapter II deals with the historical development of Kenya's economy. Chapter III discusses the major countries' donation of aid to Kenya. Chapter IV focuses upon aid from international organizations. Chapter V develops Kenya's efforts to use foreign aid efficiently. Chapter VI looks into Kenya's prospects for development through foreign aid. Chapter VII is the conclusion.
Michal Kalecki: A Dynamic Analysis of Capitalism
Michal Kalecki was not a mere precursor of Keynes, but a contemporary whose analysis provides insights into the nature of capitalism. His contribution to the understanding of the capitalist economy is central to this four chapter thesis. Chapter one develops a biographical sketch of Kalecki. Chapter two examines the components of his General Theory. Chapter three considers the differences between Kalecki and Keynes. Kalecki's contributions to the Keynesian revolution are presented along with the hopelessness he foresaw in incorporating any basic reforms into a capitalist economy. The final chapter looks to the present fruit of Kalecki's dynamic analysis--Post-Keynesian economics. The Post-Keynesian synthesis reflects the Kaleckian framework and the Keynesian optimism out of which policy may arise to affect the structural problems plaguing capitalism today.
An Institutional Approach to Economic and Social Patterns of Emulation in Colombia, South America
This study is concerned with the historical development and perpetuation of the leisure class in the Colombian society. The study is based on Thorstein Veblen's Theory of the Leisure Class. The main purpose of this study is to analyze in terms of the evolution of social institutions the problems that the Colombian society faces today. Spanish values and traditions are analyzed, as well as more recent values and modes of behavior adopted by the leisure class. Institutions such as the church, the educational, employment and political apparatus are analyzed in terms of how they contribute to the perpetuation of elites. This study concludes that as long as there is economic surplus in society, a leisure class will exist. The elites forming the leisure class may be displaced by counter-elites, which in turn will conform a new leisure class.
Post-Colonial Economic Development of the United Republic of Tanzania
Tanzania achieved full self-government on May 1st, 1961 and adopted its constitution on December 9th, 1962. It is a member of the British Commonwealth, the Organization of African Unity and the United Nations. Tanzania is a developing country predominantly dependent upon agriculture. Tanzania's rate of economic development, relative to other African countries, is mid-way between the wealthiest and the poorest. The economic development of Tanzania is analyzed in detail between the years from 1961 to 197. The dual policy of development adopted by the Tanzanian government called for unbalanced growth in both agriculture and industry. To a certain extent that policy was proven successful.
A Comparison of the Development of Development and the Development of Underdevelopment Approaches
This study concerns a comparison and contrast of two development approaches to determine their applicability in dealing with the global problem of unequal development. Chapter I introduces the purpose and the significance of the study, and the selection of one representative model for each approach. They are W. W. Rostow's model and Samir Amin's model. Chapter II elucidates Rostow's model. Chapter III explains Amin's model. Chapter IV presents a comparison and contrast of the two models both methodologically and conceptually. Chapter V contains the conclusion that Rostow' s model cannot be a universal development model due to its methodological shortcomings, whereas Amin's model should be accepted for its analysis in explaining the reasons' for today's unequal development on a world scale.
A Critical Analysis of the Equity and Efficiency of the Nigerian Personal Income Tax System
The purpose of this study is to analyze the system of personal income taxation in Nigeria, especially with respect to its administration, equity, and effects on efficient resource usage. There have, in the past, been numerous complaints that the personal income tax in Nigeria does not yield enough revenue for the state governments, primarily because of widespread avoidance and evasion of the tax, especially by persons who do not derive income from wages and salaries. This study examines this problem in light of questions as to how the tax evolved, how important it is to state governments, how efficient and equitable it is, what administrative problems it faces, and what reforms can be implemented to best solve existing problems.
Economic Developments and Policies in Post-Civil War Nigeria
The approach of the study is historical and institutional. The thesis compares the performance of the pre-war Nigerian economy to its post-war performance. The study analyzes the role of petroleum production, agriculture, and the banking system as the major generators of growth in the economy. It portrays the political framework of the country, and endeavors to give a clear and concise understanding of the economic and political implications of the war. Development planning policy issues are examined and evaluated to ascertain the degree to which Nigerian planners are fully aware of the nation's development obstacles.
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