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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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 ...
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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 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 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.
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.
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.
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 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.
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.
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.
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.
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.
This paper discusses the attempt to achieve balanced economic growth in India. The process is viewed as a transition of society from a traditional stage to one characterized by industrialization and economic growth, and which involves major economic, social and political changes. It specifically deals with the Indian banking system and its structural development since independence as a means to hasten economic growth. These changes in the banking system, through social control, and eventually nationalization of the major commercial banks in India,, illustrate the increasing role of the State in gearing the banking sector towards meeting the goals of national economic planning. The above events are related to the struggle between the moderates and those who advocate a more socialist approach to solving the economic and social problems in India.
The thesis is an investigation into the writings of Karl Marx and Max Weber, and the interpretations of their relationship in social thought. The interpretations of the relationship of these ideas have become polarized between Weberian and Marxist camps, characterized by Parsons and Weber. The paper begins with an examination of the writings of Max Weber, specifically with respect to his concepts of institutions, developmental theory, and theory of domination. The work of Marx is next examined with regard to these three topics. The interpretations offered by Parsons and Zeitlin are reviewed. The paper concludes that neither argument offered by Parsons or Zeitlin is altogether correct nor incorrect.
The problem with which this paper is concerned is that of examining the role that the Egyptian Banking System had to assume during the transition period, 1952 - 1964. This paper is divided in four parts; the first part is an introduction and it is composed of Chapter I. Part two is a brief survey of the economic and monetary developments in Egypt during this transition period and it is composed of Chapters II and III. Part three examines the reconstruction of the banking system and it is composed of Chapters IV and V. Part four presents a conclusion and some implications for other developing countries. The Egyptian experience's lack of success was due to non-realistic and uncoordinated planning.
The purpose of the paper is to develop projections of occupational employment in the Dallas and Fort Worth Standard Metropolitan Statistical Areas (SMSA) using Area Projection Method A, developed by the U.S. Bureau of Labor Statistics (BLS) . An objective of the paper is to determine whether reasonable projections can be made for the Dallas and Fort Worth areas using the method. The projections and results can be used by local manpower and education planners to satisfy their planning requirements. The final chapter concludes that Method A does produce reasonable projections, but points out that the projections lack detail. Their value lies in projecting the overall trend and direction of the composition of employment, and their usefulness is primarily in policy making.
The thesis analyzes the validity of consumer's surplus as a measure of welfare change. The analysis begins by examining the chronological development of the concept. Once an understanding of consumer's surplus is formulated, an evaluation of its use in modern ad hoc problems can be undertaken. Chapter II and III discuss the development of consumer's surplus from Classical economics to its modern reformulations, The concept's application to different problems is discussed in Chapter IV. Chapter V and VI deal with the intergration of consumer's surplus and the compensation principle. The primary conclusion is that the Laspeyres measure, in combination with the compensation test, provides a definitive measure of welfare change in a limited situation.
The problem with which this investigation is concerned is that of ascertaining whether or not A. C. Pigou led to the development of a modern school of Welfare Economics. This study has a threefold purpose. The first is to examine the welfare criterion of the classical tradition. The second is to examine the welfare criterion of the neoclassical tradition. The third is to develop a synthesis of classical and neoclassical into a modern welfare criterion. This study concludes that A. C. Pigou has founded a modern school of Welfare Economics. Pigou accomplished this by synthesizing the welfare doctrines of the classical tradition with that of the neoclassical tradition.
This investigation analyzes the government's current attempt at wage and price controls; and covers only Phases I, II, and III--with primary emphasis on Phase II. The sources of data used are current periodicals. The study is composed of five major chapters. Chapter I presents a brief summary of prior attempts at wage and price controls, both in this country and abroad, plus-a thumbnail sketch of economic conditions in this country preceding Phase I. The next three chapters deal with the three phases themselves. In each case, the guidelines are presented along with the mechanism of execution, enforcement, and actual cases of operation. As the overall program is still in operation, final conclusions are not appropriate at this time.
After independence on March 6, 1957, Ghana, under the late President Kwame Nkrumah, turned to diverse developmental activities. Economically, Ghana was on sound footing; the balance of payments was favorable and cocoa was yielding a good harvest. In 1967, Nkrumah was ousted due to his dictatorial rule. In this study the available primary and secondary sources were utilized. Primary sources were made available by the Ghana Embassy in Washington, D. C. and by friends and relatives in institutions of higher learning in Ghana. The study is divided into five chapters. Chapter I concerns itself with a geographical survey of the country, including land, climate, people, and natural resources. Chapter II explores political developments, and Chapter III examines some of the crucial economic problems. Chapter IV explores some economic progress and Chapter V makes suggestions, some of which may seem sordid and grim, but at least they offer a "stepping stone."
This research report attempts to provide an understanding of the origin and nature of the Corps of Engineers' civil works program and outlines a theory for evaluating water resources development projects.
The purpose of this study is to account for the forces that led to the creation of Special Drawing Rights (SDRs), to examine the operation of the Special Drawing Account, to account for the developments inducing monetary reform, and to arrive at conclusions concerning the future of SDRs in the international financial system.
Given the problems of economic development, the purpose of this thesis is to examine, analyze, and reevaluate the impact of human, social, economic, and political problems on the economic development of Uganda. The strategy adopted in the study of the problems involved in the economic development of Uganda is historical. In short, the study examines past, recent, and present literature on economic development of Uganda.
The purpose of the study is to determine what effect medicare has had on the distribution of public health care expenditures in the state of Oklahoma. The study tests that there is a significant correlation between medical vendor payments and indigency in Oklahoma or in other words that pre-medicare public health care dollars in Oklahoma were distributed to indigents.
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