Dissertations / Theses on the topic 'States, Small Econometric models'
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Eadie, Edward Norman. "Small resource stock share price behaviour and prediction." Title page, contents and abstract only, 2002. http://web4.library.adelaide.edu.au/theses/09CM/09cme11.pdf.
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Walter, Jason Michael. "Determinants of Bilateral Trade between the United States and Japan." Thesis, North Dakota State University, 2010. https://hdl.handle.net/10365/29311.
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The objective of this study is to evaluate the effects of macroeconomic policy variables on bilateral trade between the United States and Japan. An auto-regressive distributed lag model is developed to estimate the effects of government economic policies on four commodity groups: agriculture; materials and chemicals; machinery and transport equipment; and manufactured goods. Results indicate that monetary policy significantly affects U. S. and Japanese imports of manufactured goods and transport equipment. The results also show that changes in government expenditure have a significant long-run effect on U.S. imports of manufactured goods and Japanese imports of materials and chemicals, while the long-run
effects of income and exchange rates are significant for most commodity groups.
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Spurway, Kayleigh Fay Nanette. "A study of the Consumption Capital Asset Pricing Model's appilcability across four countries." Thesis, Rhodes University, 2014. http://hdl.handle.net/10962/d1013016.
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Historically, the Consumption Capital Asset Pricing Method (C-CAPM) has performed poorly in that estimated parameters are implausible, model restrictions are often rejected and inferences appear to be very sensitive to the choice of economic agents' preferences. In this study, we estimate and test the C-CAPM with Constant Relative Risk Aversion (CRRA) using time series data from Germany, South Africa, Britain and America during relatively short time periods with the latest available data sets. Hansen's GMM approach is applied to estimate the parameters arising from this model. In general, estimated parameters fall outside the bounds specified by Lund & Engsted (1996) and Cuthbertson & Nitzsche (2004), even though the models are not rejected by the J-test and are associated with relatively small minimum distances.
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Bose, Gopal Krishna 1955. "Model selection : an optimal approach to constructing a penalty function in small samples." Monash University, Dept. of Econometrics and Business Statistics, 2002. http://arrow.monash.edu.au/hdl/1959.1/8728.
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Shelley, Gary L. "A switching analysis of United States monetary policy." Diss., Virginia Tech, 1991. http://hdl.handle.net/10919/39969.
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Glazyrina, Anna. "Contribution of Public Investments and Innovations to Total Factor Productivity." Thesis, North Dakota State University, 2011. https://hdl.handle.net/10365/29848.
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This study examines the importance of public research and development (R&D) expenditures and innovations (prices) to U S agricultural productivity employing panel vector error correction econometric technique Specifically, time-series and panel unit root tests, panel cointegration procedures, panel causality tests, and vector error correction model are used in the analysis. Empirical application to U S state-level data for 1960-2004 suggests positive and statistically significant influence of both supply-side
drivers, in the form of public R&D expenditures, and demand-side drivers, in the form of innovations (prices), on total factor productivity growth.
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Ji, Inyeob Economics Australian School of Business UNSW. "Essays on testing some predictions of RBC models and the stationarity of real interest rates." Publisher:University of New South Wales. Economics, 2008. http://handle.unsw.edu.au/1959.4/41441.
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This dissertation contains a series of essays that provide empirical evidence for Australia on some fundamental predictions of real business cycle models and on the convergence and persistence of real interest rates. Chapter 1 provides a brief introduction to the issues examined in each chapter and provides an overview of the methodologies that are used. Tests of various basic predictions of standard real business cycle models for Australia are presented in Chapters 2, 3 and 4. Chapter 2 considers the question of great ratios for Australia. These are ratios of macroeconomic variables that are predicted by standard models to be stationary in the steady state. Using time series econometric techniques (unit root tests and cointegration tests) Australia great ratios are examined. In Chapter 3 a more restrictive implication of real business cycle models than the existence of great ratios is considered. Following the methodology proposed by Canova, Finn and Pagan (1994) the equilibrium decision rules for some standard real business cycle are tested on Australian data. The final essay on this topic is presented in Chapter 4. In this chapter a large-country, small-country is used to try and understand the reason for the sharp rise in Australia??s share of world output that began around 1990. Chapter 5 discusses real interest rate linkages in the Pacific Basin region. Vector autoregressive models and bootstrap methods are adopted to study financial linkages between East Asian markets, Japan and US. Given the apparent non-stationarity of real interest rates a related issue is examined in Chapter 6, viz. the persistence of international real interest rates and estimation of their half-life. Half-life is selected as a means of measuring persistence of real rates. Bootstrap methods are employed to overcome small sample issues in the estimation and a non-standard statistical inference methodology (Highest Density Regions) is adopted. Chapter 7 reapplies the High Density Regions methodology and bootstrap half-life estimation to the data used in Chapters 2 and 5. This provides a robustness check on the results of standard unit root tests that were applied to the data in those chapters. Main findings of the thesis are as follows. The long run implications of real business cycle models are largely rejected by the Australia data. This finding holds for both the existence of great ratios and when the explicit decision rules are employed. When the small open economy features of the Australian economy are incorporated in a two country RBC model, a country-specific productivity boom seems to provide a possible explanation for the rise in Australia??s share of world output. The essays that examine real interest rates suggest the following results. Following the East Asian financial crisis in 1997-98 there appears to have been a decline in the importance of Japan in influencing developments in the Pacific Basin region. In addition there is evidence that following the crisis Korea??s financial market became less insular and more integrated with the US. Finally results obtained from the half-life estimators suggest that despite the usual findings from unit root tests, real interest rates may in fact exhibit mean-reversion.
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Peterson, Erica Kay. "An Econometric Analysis of Cost Changes in U.S. Trucking and the Implications of Implementing the NAFTA Trucking Provisions." Thesis, North Dakota State University, 2007. https://hdl.handle.net/10365/29800.
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The United States trucking industry underwent deregulation starting in 1980. There was much opposition to the process in fears that trucking companies would be adversely affected by increased competition. There were also many proponents and researchers who proved that the increased competition due to regulatory reform only helped strengthen the industry by forcing firms to become more cost efficient. There has been similar opposition and support for the trucking provisions of NAFTA. Although the provisions have not been fully implemented, the trucking industry is well aware it will only be a matter of time. In early 2002 it was announced that the process to begin implementing the trucking provisions would begin in mid-2002. Many in the industry and other groups have opposed implementing the
provisions, concerned that U.S. trucking firms would be subject to competition from Mexican firms, just as they feared trucking firms would be adversely affected by deregulation more than 25 years ago. This thesis analyzes the effects the 2002 announcement of the process to begin implementing the trucking provisions has had on the cost structure of the industry. It uses a translog cost function to determine if firms have become more efficient in the years following the announcement in anticipation of increased competition from Mexican firms after the provisions are fully implemented. The translog cost function is used to determine what effects the NAFTA variable has had on costs and what specific operating characteristics have caused the costs to increase or decrease.
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Power, Bernadette. "Factors which foster the survival of long-lived small firms." Thesis, University of St Andrews, 2004. http://hdl.handle.net/10023/14113.
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This thesis focuses on those factors which foster the long-run survival, or continued existence, of the small firm. Using fieldwork methods, new data were gathered in face-to-face interviews with 63 owner-managers of mature small firms in Scotland (average age of 251/2 years). An instrument incorporating novel ways of calibrating organisational change and performance was designed specifically for this study. The unique body of data enabled a number of new hypotheses to be tested in structural econometric models of small firm performance and growth. A mix of quantitative and qualitative data was also used to construct illustrative case studies of seven enterprise profiles. New measures of flexibility and firm-specific turbulence are used to explain the performance of mature small firms, and Heckman sample selection estimation is undertaken of this performance equation. Performance was measured using an index constructed fi-om Likert scales over 28 distinct attributes. It was found that firm- specific turbulence had a large negative effect on performance. Measures of flexibility (viz. agility and speed) enhanced the long run prospects of the mature small firm. Evidence of a trade-off relationship was found between measures of flexibility. Real options logic was found to be useful in interpreting the results. This evidence indicated that entrepreneurs should be alert to precipitators of organisational change, but should not act impulsively in responding to them. The tendency of the long-lived small firm to remain small is considered using structural modelling techniques. In a three-equation simultaneous model, performance, size and a third variable (viz. market extent and size of competitive strategy space) are jointly determined. An array of system estimation techniques (e.g. 2SLS, SSLS, H3SLS) was employed to estimate the behavioural models. A trade-off is found between firm size and performance, thus embedding this result in a larger structural model. It is found that small firms need to adjust downwards in size, and to cultivate a varied competitive strategy in niche or localised markets, to attain higher equilibrium values of performance and to promote longevity.
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Kremers, Jeroen Joseph Marie. "On the determination and macroeconomic consequences of public financial policy." Thesis, University of Oxford, 1986. http://ora.ox.ac.uk/objects/uuid:a8c0cb20-b178-4e80-9a46-fcb1079a4a9f.
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This study develops a theoretical framework for the analysis of regular patterns in public financial behaviour, and applies that framework in an empirical assessment of budgetary policies in the United States and in the Netherlands. Its purpose and scope are threefold. First, it sheds theoretical light on economic considerations guiding public financial behaviour in a dynamic model of optimal taxation. The resulting idea, that it may be sensible to smooth taxation over time,is subsequently extended to a more general model of the public finances, which involves spending, taxation, debt and money creation in an effort to control the government budget. Second, using modern econometric methods the practical relevance of this model is illustrated with estimations for the United States and the Netherlands. Third, the model is sufficiently flexible to allow for a number of more institutional insights. In this respect the emphasis is placed on the Dutch economy and public finances. The thesis thus engages economic theory, econometric technique and institutional and macroeconomic background in a combined effort to understand and evaluate regular patterns in public financial behaviour. Its findings have implications for each of these three areas of economic interest.
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Shelnutt, John Paul. "Transition in the world primary copper industry, 1975-1990." Diss., The University of Arizona, 1991. http://catalog.hathitrust.org/api/volumes/oclc/41997845.html.
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Chen, Hongqing. "An Empirical Study on the Jump-diffusion Two-beta Asset Pricing Model." PDXScholar, 1996. https://pdxscholar.library.pdx.edu/open_access_etds/1325.
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This dissertation focuses on testing and exploring the usage of the jump-diffusion two-beta asset pricing model. Daily and monthly security returns from both NYSE and AMEX are employed to form various samples for the empirical study. The maximum likelihood estimation is employed to estimate parameters of the jump-diffusion processes. A thorough study on the existence of jump-diffusion processes is carried out with the likelihood ratio test. The probability of existence of the jump process is introduced as an indicator of "switching" between the diffusion process and the jump process. This new empirical method marks a contribution to future studies on the jump-diffusion process. It also makes the jump-diffusion two-beta asset pricing model operational for financial analyses. Hypothesis tests focus on the specifications of the new model as well as the distinction between it and the conventional capital asset pricing model. Both parametric and non-parametric tests are carried out in this study. Comparing with previous models on the risk-return relationship, such as the capital asset pricing model, the arbitrage pricing theory and various multi-factor models, the jump-diffusion two-beta asset pricing model is simple and intuitive. It possesses more explanatory power when the jump process is dominant. This characteristic makes it a better model in explaining the January effect. Extra effort is put in the study of the January Effect due to the importance of the phenomenon. Empirical findings from this study agree with the model in that the systematic risk of an asset is the weighted average of both jump and diffusion betas. It is also found that the systematic risk of the conventional CAPM does not equal the weighted average of jump and diffusion betas.
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Savard, Marielle. "Impact of Canadian stabilization programs on pork exports to the United States." Thesis, McGill University, 1989. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=55675.
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Celanzi, Carla. "The perception of corruption of small and medium size enterprises in China and Italy." Thesis, View the Table of Contents & Abstract, 2007. http://sunzi.lib.hku.hk/hkuto/record/B36996506.
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Nayeyo, Anita Huba. "Economic welfare analysis of coarse grain trade under a trade liberalization policy within the Economic Community of West African States." Thesis, McGill University, 1995. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=23416.
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This study analyzed the economic welfare implications of the 1990 intraregional trade liberalization scheme within the Economic Community of West African States (ECOWAS) on member country producers and consumers. Four countries were chosen as a point of focus: Burkina Faso, Cote d'Ivoire, Ghana and Mali, and two commodities: millet and sorghum. The supply and demand functions were estimated using time series data from 1970 to 1990 obtained at the level of administrative regions within each of the four countries. Optimal production, consumption, trade quantities and trade flows were determined using the REACTT model, a spatial price equilibrium solution algorithm. Two trade scenarios were simulated. The first examined trade flows under the 1990 tariff structures and the second examined trade flows under the proposed zero tariff rates.The REACTT model results showed that removal of the tariffs would increase the crossborder trade flows between the four countries by about 12% for millet and 38% for sorghum. The welfare calculations showed that in the case of millet, all four countries would have net positive gains to the tune of $4.6 million in total. For sorghum, Burkina Faso, Ghana and Mali would have net positive gains, C ote d'Ivoire would have a net welfare loss, and the net impact on all four countries would be a positive gain of about $9.3 million. The results of the REACTT model and the welfare calculations suggest that intra-ECOWAS trade liberalization would increase total trade flows and total economic well being of the member countries.
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KRIDEL, DONALD JACK. "AN ANALYSIS OF THE RESIDENTIAL DEMAND FOR ACCESS TO THE TELEPHONE NETWORK (ECONOMETRICS)." Diss., The University of Arizona, 1987. http://hdl.handle.net/10150/184006.
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Universal service is the focal point of the economic dilemma faced by the telecommunications industry. The advent of competition spurred by several regulatory rulings is forcing rates towards economic costs. It is feared that this movement or the erosion of the toll-to-local subsidy with concomitant increases in local prices severely threatens the concept of universal service. To adequately address these fears, accurate elasticity of demand estimates for telephone access are required. This thesis develops estimates of these demand elasticities for access. These estimates are derived consistently from an underlying theory of demand for access. Furthermore, the simultaneous access and class-of-service choice problems are addressed similarly. This consistent development facilitates model usage and interpretation. For example, the model provides the best available estimate for the size of the network externality. Taking into account the underlying demand theory and acknowledging the problems associated with the aggregated nature of the data set (census tract data from 1980 Census), a modified probit technique is developed to estimate the demand model. The estimation methodology is implemented using an iterative least square procedure. To analyze the reasonableness of the algorithm and procedure, a Monte Carlo study is performed. In addition, a jackknife technique is employed to estimate variances of coefficients when the standard measures are unavailable. The model results are used to analyze the effect of current policy decisions. For example, for a proposed doubling of access prices the demand for access elasticity is found to be quite small, about -.04. A welfare analysis is performed to discuss the costs and benefits associated with moving to cost-based rates. This analysis also provides the basis for rate recommendations to facilitate the transition to competition while attempting to preserve the concept of universal service.
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Humpe, Andreas. "Macroeconomic variables and the stock market : an empirical comparison of the US and Japan." Thesis, St Andrews, 2008. http://hdl.handle.net/10023/464.
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Komicha, Hussien Hamda. "Farm household economic behaviour in imperfect financial markets : empirical evidence and policy implications on saving, credit and production efficiency in Southeastern Ethiopia /." Uppsala : Dept. of Economics, Swedish University of Agricultural Sciences, 2007. http://epsilon.slu.se/200778.pdf.
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Romain, Astrid. "Essays in the empirical analysis of venture capital and entrepreneurship." Doctoral thesis, Universite Libre de Bruxelles, 2007. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/210729.
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EXECUTIVE SUMMARYThis thesis aims at analysing some aspects of Venture Capital (VC) and high-tech entrepreneurship. The focus is both at the macroeconomic level, comparing venture capital from an international point of view and Technology-Based Small Firms (TBSF) at company and founder’s level in Belgium. The approach is mainly empirical.
This work is divided into two parts. The first part focuses on venture capital. First of all, we test the impact of VC on productivity. We then identify the determinants of VC and we test their impact on the relative level of VC for a panel of countries.
The second part concerns the technology-based small firms in Belgium. The objective is twofold. It first aims at creating a database on Belgian TBSF to better understand the importance of entrepreneurship. In order to do this, a national survey was developed and the statistical results were analysed. Secondly, it provides an analysis of the role of universities in the employment performance of TBSF.
A broad summary of each chapter is presented below.
PART 1: VENTURE CAPITAL
The Economic Impact of Venture Capital
The objective of this chapter is to perform an evaluation of the macroeconomic impact of venture capital. The main assumption is that VC can be considered as being similar in several respects to business R&D performed by large firms. We test whether VC contributes to economic growth through two main channels. The first one is innovation, characterized by the introduction of new products, processes or services on the market. The second one is the development of an absorptive capacity. These hypotheses are tested quantitatively with a production function model for a panel data set of 16 OECD countries from 1990 to 2001. The results show that the accumulation of VC is a significant factor contributing directly to Multi-Factor Productivity (MFP) growth. The social rate of return to VC is significantly higher than the social rate of return to business or public R&D. VC has also an indirect impact on MFP in the sense that it improves the output elasticity of R&D. An increased VC intensity makes it easier to absorb the knowledge generated by universities and firms, and therefore improves aggregate economic performance.
Technological Opportunity, Entrepreneurial Environment and Venture Capital Development
The objective of this chapter is to identify the main determinants of venture capital. We develop a theoretical model where three main types of factors affect the demand and supply of VC: macroeconomic conditions, technological opportunity, and the entrepreneurial environment. The model is evaluated with a panel dataset of 16 OECD countries over the period 1990-2000. The estimates show that VC intensity is pro-cyclical - it reacts positively and significantly to GDP growth. Interest rates affect the VC intensity mainly because the entrepreneurs create a demand for this type of funding. Indicators of technological opportunity such as the stock of knowledge and the number of triadic patents affect positively and significantly the relative level of VC. Labour market rigidities reduce the impact of the GDP growth rate and of the stock of knowledge, whereas a minimum level of entrepreneurship is required in order to have a positive effect of the available stock of knowledge on VC intensity.
PART 2: TECHNOLOGY-BASED SMALL FIRMS
Survey in Belgium
The first purpose of this chapter is to present the existing literature on the performance of companies. In order to get a quantitative insight into the entrepreneurial growth process, an original survey of TBSF in Belgium was launched in 2002. The second purpose is to describe the methodology of our national TBSF survey. This survey has two main merits. The first one lies in the quality of the information. Indeed, most of national and international surveys have been developed at firm-level. There exist only a few surveys at founder-level. In the TBSF database, information both at firm and at entrepreneur-level will be found.
The second merit is about the subject covered. TBSF survey tackles the financing of firms (availability of public funds, role of venture capitalists, availability of business angels,…), the framework conditions (e.g. the quality and availability of infrastructures and communication channels, the level of academic and public research, the patenting process,…) and, finally, the socio-cultural factors associated with the entrepreneurs and their environment (e.g. level of education, their parents’education, gender,…).
Statistical Evidence
The main characteristics of companies in our sample are that employment and profits net of taxation do not follow the same trend. Indeed, employment may decrease while results after taxes may stay constant. Only a few companies enjoy a growth in both employment and results after taxes between 1998 and 2003.
On the financing front, our findings suggest that internal finance in the form of personal funds, as well as the funds of family and friends are the primary source of capital to start-up a high-tech company in Belgium. Entrepreneurs rely on their own personal savings in 84 percent of the cases. Commercial bank loans are the secondary source of finance. This part of external financing (debt-finance) exceeds the combined angel funds and venture capital funds (equity-finance).
On the entrepreneur front, the preliminary results show that 80 percent of entrepreneurs in this study have a university degree while 42 percent hold postgraduate degrees (i.e. master’s, and doctorate). In term of research activities, 88 percent of the entrepreneurs holding a Ph.D. or a post-doctorate collaborate with Belgian higher education institutes. Moreover, more than 90 percent of these entrepreneurs are working in a university spin-off.
The Contribution of Universities to Employment Growth
The objective of this chapter is to test whether universities play a role amongst the determinants of employment growth in Belgian TBSF. The empirical model is based on our original survey of 87 Belgian TBSF. The results suggest that both academic spin-offs and TBSF created on the basis of an idea originating from business R&D activities are associated with an above than average growth in employees. As most ‘high-tech’ entrepreneurs are at least graduated from universities, there is no significant impact of the level of education. Nevertheless, these results must be taken with caution, as they are highly sensitive to the presence of outliers. Young high-tech firms are by definition highly volatile, and might be therefore difficult to understand.
CONCLUSION
In this last chapter, recommendations for policy-makers are drawn from the results of the thesis. The possible interventions of governments are classified according to whether they influence the demand or the supply of entrepreneurship and/or VC. We present some possible actions such as direct intervention in the VC funds, interventions of public sector through labour market rigidities, pension system, patent and research policy, level of entrepreneurial activities, bankruptcy legislation, entrepreneurial education, development of university spin-offs, and creation of a national database of TBSF.
Doctorat en Sciences économiques et de gestion
info:eu-repo/semantics/nonPublished
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Nguyen, Thang Quang 1977. "Quality innovation: driving forces and implications for production, trade, and consumption." Thesis, 2007. http://hdl.handle.net/2152/3389.
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The dissertation has three main chapters on product quality innovation. First, we compare innovation effort and social welfare between monopoly, duopoly, and the social planner in a dynamic model with quality dependent on a continuous know-how stock. The technology frontier--the largest reachable know-how socks--does not always positively depend on competitiveness, i.e. a duopoly may technologically surpass the social planner. However, social welfare is always positively tied to competitiveness. Second, with a general equilibrium model, we derive a relative price function expressing productivity and quality effects, and develop a method for inferring relative quality changes. An application to services versus goods of the US from 1946-2006 provides evidence on aggregate quality changes and suggests us to incorporate quality variations when explaining relative prices. Third, we build a two-product model where productivity changes lead to reallocations of labor between quantity production and quality innovation. The correlation between relative productivity and relative quality is negative for low-range substitutability and positive for medium-range substitutability between two products. Looking at services versus goods of the US, the correlation is negative and productivity-driven quality can play a significant role in general quality development.
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"The gain from trade of a small open monetary economy with endogenous labor supply." 2003. http://library.cuhk.edu.hk/record=b5891583.
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Chan Yeung.Thesis (M.Phil.)--Chinese University of Hong Kong, 2003.
Includes bibliographical references (leaves 56-57).
Abstracts in English and Chinese.
Chapter 1 --- Introduction --- p.1
Chapter 2 --- "Literature reviews, contributions of this thesis and the comparison"
Chapter 2.1 --- Literature reviews
Chapter 2.11 --- Endogenous labor supply models --- p.3
Chapter 2.12 --- The CIA models --- p.12
Chapter 2.2 --- Contributions of this thesis and the comparison --- p.17
Chapter 3 --- The Model --- p.20
Chapter 4 --- "Trade restrictions, welfare and employment"
Chapter 4.1 --- Tariff and welfare --- p.26
Chapter 4.2 --- Tariff and employment --- p.30
Chapter 4.3 --- Comparing welfare and employment effects --- p.31
Chapter 4.4 --- "Quotas, welfare, employment and price level" --- p.32
Chapter 5 --- Optimal tariffs --- p.33
Chapter 6 --- Indirect taxation and welfare --- p.40
Chapter 7 --- Conclusion --- p.43
Appendix
Appendix A: Determine the sign of Δ --- p.45
Appendix B: Derivation of equation (4.2) --- p.45
Appendix C: Derivation of equation (4.3) --- p.47
"Appendix D: Quotas, welfare,employment and price level" --- p.48
Appendix E: The derivation of optimal tariff --- p.50
Appendix F: Optimal consumption tax and wage subsidy --- p.53
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Zhang, Yibing. "Econometric models of industrial wood energy consumption in the United States." 1992. http://catalog.hathitrust.org/api/volumes/oclc/32341307.html.
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Thesis (M.S.)--University of Wisconsin--Madison, 1992.Typescript. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references (leaves 48-49).
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Chucherd, Thitima. "Essays on monetary and fiscal policy interactions in small open economies." Phd thesis, 2013. http://hdl.handle.net/1885/155957.
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This thesis addresses interactions between monetary and fiscal policies in a theoretical dynamic stochastic general equilibrium (DSGE) model of a small open economy and in an empirical model under a structural vector error correction model (SVECM). The thesis consists of three essays. The contribution is both theoretical and empirical that enables a better understanding of the complexity of interactions between monetary and fiscal policies in small open economies. The first essay examines the equilibrium determinacy under monetary and fiscal rules. The goal is to investigate how monetary and fiscal policy interactions ensure a unique and non-explosive (determinate) equilibrium for a small open economy. The study focuses when policy makers implement a set of policy mixes to address domestic output price inflation control for monetary policy, debt stabilization for fiscal policy, and joint output stabilization tasks. The result indicates that two policy schemes facilitate a determinate equilibrium. First, monetary policy actively controls inflation when fiscal policy sets a sufficient feedback on debt. Second, monetary policy becomes passive against inflation when fiscal policy is insolvent. Adding output stabilization to each rule simply causes variants of this fundamental. An interest rate rule with output stabilization can be more passive against inflation while providing a stronger response to the output gap. Fiscal policy is required to set higher feedback on debt along with its stronger counter-cyclical policy. The second essay links between the equilibrium determinacy and policy optimization. This essay provides insights into the design of policy mixes and compares determinacy outcomes between two theoretical models of a small open economy: with and without an explicit exchange rate role. This study shows that policy interactions in a small open economy with an endogenous exchange rate is quite sophisticated, especially when a monetary rule is added with an output stabilization task and/or targeted to Consumer Price Index (CPI) inflation. Additional concern for monetary policy in an open economy causes a partial offset to its reaction on domestic output price inflation that weakens its effect on the real debt burden. To minimize economic fluctuations, policy makers should mute the role of output stabilization for monetary policy, and set minimum feedback on debt that is compatible with the degree of counter-cyclical fiscal policy. Substantially active response to inflation is satisfactory for monetary policy with CPI inflation targeting. The third essay empirically presents monetary and fiscal policy interactions in Thailand's SVECM suggested by a theoretical DSGE model developed from the previous essays. This essay shows that the DSGE-SVECM model can be supported by Thai data. A shock to monetary policy is effective with a lag. Government spending policy is also effective with a lag and some crowding-out effects on output. An adverse shock in tax policy unexpectedly stimulates the economy, indicating room for enhancing economic growth by relaxing revenue constraint. Monetary policy is mainly implemented to correct a consequence of a fiscal shock on inflation (and also the domestic and foreign shocks), while fiscal policy appears to counter a consequence of the monetary policy shock on output.
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"Endogenous time preference in small open economy models." 2004. http://library.cuhk.edu.hk/record=b5891992.
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Chan Chung Yan.Thesis (M.Phil.)--Chinese University of Hong Kong, 2004.
Includes bibliographical references (leaves 57-59).
Abstracts in English and Chinese.
Abstract --- p.i
Acknowledgement --- p.iv
Table of Contents --- p.v
List of Figures --- p.vi
Chapter 1. --- Introduction --- p.1
Chapter 2. --- An Illustration with a Small Open Economy Model
Chapter 2.1 --- Review of Obstfeld (1990) --- p.4
Chapter 2.2 --- A Model with Socially-Determined Time Preference --- p.6
Chapter 3. --- Small Open Economy Models with Socially-Determined Time Preference --- p.15
Chapter 3.1 --- The Laursen-Metzler Effect --- p.16
Chapter 3.2 --- Exchange-Rate Dynamics --- p.21
Chapter 3.3 --- Capital Mobility and Devaluation --- p.28
Chapter 4. --- Dynamics of a Small Open Economy Model with Non-Flat Bond Curves --- p.35
Chapter 4.1 --- Downward-Sloping Bond Curve --- p.38
Chapter 4.2 --- Upward-Sloping Bond Curve --- p.38
Chapter 5. --- Investment and Saving in a Small Open Economy Model with Capital Accumulation
Chapter 5.1 --- The Model --- p.41
Chapter 5.2 --- Productivity Shocks --- p.46
Chapter 6. --- Saddle-Path Stability of a Closed Economy Growth Model --- p.49
Chapter 7. --- Conclusion --- p.54
References --- p.57
Appendix --- p.60
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"Indeterminacy in small open economy models with endogenous time preference." 2003. http://library.cuhk.edu.hk/record=b5891604.
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Bian Yong.Thesis (M.Phil.)--Chinese University of Hong Kong, 2003.
Includes bibliographical references (leaves 34-37).
Abstracts in English and Chinese.
Chapter I. --- Introduction --- p.1
Chapter II. --- Indeterminacy in a Small Open Economy Model with Endogenous Time Preference --- p.4
Chapter 2.1 --- Economic Environment --- p.5
Chapter 2.1.1 --- Technology --- p.5
Chapter 2. 1. 2 --- Dynamic Model --- p.8
Chapter 2.2 --- The indeterminacy result --- p.12
Chapter 2.3 --- Conclusion --- p.12
Chapter III. --- Indeterminacy in a Small Open Economy Model with Endogenous Labor Supply --- p.14
Chapter 3. 1 --- Economic Environment --- p.17
Chapter 3.2 --- Preference --- p.21
Chapter 3.3 --- Dynamics of Equilibrium --- p.24
Chapter 3.4 --- Indeterminacy and Scale Economies --- p.28
Chapter 3. 4. 1 --- Case1 --- p.30
Chapter 3.4.2 --- Case2 --- p.31
Chapter 3.5 --- Conclusion --- p.32
Chapter IV. --- References --- p.34
Chapter V. --- Appendix --- p.38
Chapter 5. 1 --- Technology --- p.38
Chapter 5.2 --- Preference --- p.41
Chapter 5. 3 --- Dynamics of Equilibrium --- p.43
Chapter 5. 3. 1 --- Case1 --- p.49
Chapter 5. 3. 2 --- Case2 --- p.50
26
"Three essays on insurance choice." Thesis, 2007. http://hdl.handle.net/2152/3117.
Full text
27
Koch, Thomas Gregory 1979. "Three essays on insurance choice." 2007. http://hdl.handle.net/2152/13304.
Full text
28
"Welfare effects of trade and environmental policy for a small-polluted economy." 2004. http://library.cuhk.edu.hk/record=b5892257.
Full textAbstract:
Keung Kam-Yin.Thesis (M.Phil.)--Chinese University of Hong Kong, 2004.
Includes bibliographical references (leaves 72-80).
Abstracts in English and Chinese.
Chapter Chapter 1 --- Overview --- p.1
Chapter Chapter 2 --- Literature Review --- p.5
Chapter 2.1 --- Income growth and pollution --- p.5
Chapter 2.2 --- Environmental regulations and comparative advantage --- p.6
Chapter 2.3 --- Welfare implications : Optimal policy in a second-best world --- p.9
Chapter 2.4 --- Unemployment and the Environment --- p.11
Chapter 2.5 --- Labor Union and International Trade --- p.12
Chapter Chapter 3 --- Tariffs and the Environment --- p.14
Chapter 3.1 --- The model --- p.14
Chapter 3.2 --- Resource Allocation -The effects of import tariffs --- p.19
Chapter 3.3 --- National welfare --- p.23
Chapter 3.4 --- Trade Liberalization --- p.26
Chapter Chapter 4 --- Tariffs，Unemployment and the Environment --- p.28
Chapter 4.1 --- The model --- p.30
Chapter 4.2 --- Resource Allocation - The effects of import tariffs --- p.33
Chapter 4.3 --- National Welfare --- p.37
Chapter 4.4 --- Trade Liberalization --- p.40
Chapter Chapter 5 --- "Tariffs, Labor Unions and the Environment" --- p.42
Chapter 5.1 --- The model --- p.43
Chapter 5.2 --- Resource Allocation - The effects of import tariffs --- p.48
Chapter 5.3 --- National Welfare --- p.52
Chapter 5.4 --- Trade Liberalization --- p.54
Chapter Chapter 6 --- Concluding Remarks --- p.57
Appendix I --- p.60
Appendix II --- p.64
Appendix III --- p.67
References --- p.72
29
Gainutdinova, Olesya. "Cost structure of the local telecommunications industry." Thesis, 1999. http://hdl.handle.net/1957/33870.
Full textAbstract:
Using a panel data set on the local telecommunications companies reporting to the FCC
for 1988-95, this paper investigates the subadditivity of the cost function, as well as
technical and allocative inefficiency of the U.S. local telephone industry. The subadditivity
test on the estimated translog cost function indicates that certain subdivisions of the
monopolized regional markets between two hypothetical firms might lower total cost.
However, the evidence is not as clear cut as in an earlier study by Shin and Ying (1992,
RAND), with savings from a two-firm industry being negative on average over all possible
two-firm output vector combinations. The results of the subadditivity test suggest that
companies with a relatively high share of residential customers experience higher degrees
of scale inefficiency. Specification of technical inefficiency as fixed company-specific
effects results in a different efficiency ranking than the specification with random effects.
The estimation results for the generalized (non-minimum) cost model suggest that capital
is being under-employed relative to residual inputs. This finding does not support the
theoretical prediction that an industry under rate of return regulation tends to over-employ capital relative to other inputs. The subadditivity test for the generalized cost function that accounts for technical and allocative inefficiency generated a much more favorable estimates of cost reductions from the subdivision of the monopolized markets than the test on the conventional specification of the cost function. The estimated losses from technical, allocative and scale inefficiency reflect potential gains from competition.Graduation date: 1999
30
Lee, Man-keung. "Topics in applied microeconomics : estimating the value of commercial land and testing the efficiency of the U.S. Motor Carrier industry." Thesis, 1997. http://hdl.handle.net/1957/34160.
Full textAbstract:
This thesis consists of two essays on applied microeconomics issues. The first
essay presents a hedonic price econometric model of vacant commercial land. The second
essay presents cost frontier analysis on the industry and firm's performance of the U.S.
Motor Carrier industry.
Our hedonic price econometric model includes two new developments in estimating
land values in a multicentric urban area First, two composite indexes of market
accessibility and highway accessibility are developed to account for the impacts of different
characteristics of different regional nodes on land value at a particular site. Second, we use
nonlinear least squares to estimate the decay parameters of the accessibility indexes within
the model. We found that market accessibility is the dominant land value determinant. The
estimated market accessibility decay parameter is different in value from the ones that are
commonly assumed in hedonic models. The effect of access to highway interchanges is
insignificant. Corner lots are of higher value. Finally, under Seattle's zoning policy,
zoning classification of neighborhood commercial and community commercial land does
not have significant effect on land value.
The second essay uses the stochastic cost frontiers to analyze the performance of
the U.S. motor carrier industry in the pre- and post-MCA periods. The average industry
inefficiencies were between 14 and 27 percent during studied period. Our results indicate
that the deregulation has no impact on industry efficiency. After a short adjustment period,
the average industry inefficiency in the post-MCA years falls back to its pre-MCA level of
around 14 to 16 percent. We analyzed the firm-specific inefficiencies by tobit regression.
Our result shows that union firms are 1.5 and 4 percent less efficient than non-union firms
in the pre- and post-MCA years, respectively. Firms located in the southern region are
relatively efficient and the ones in the northern regions are relatively inefficient. Our result
supports Stigler's Survivor Principle that survivor firms are relatively efficient.Graduation date: 1998
31
Cho, Bong-Jae. "The Economic effects of trade liberalization under oligopoly." Thesis, 1992. http://hdl.handle.net/1957/36456.
Full textAbstract:
In modern economies, national governments have a wide
range of policies for restricting international trade and
protecting domestic industries at their disposal. The most
popular form of non-tariff trade policies is probably that
of a direct quantitative restriction. This policy takes
two principal forms: explicit import quotas and voluntary
export restraints (VERs). A VER is a quota imposed by an
exporting country upon exports to other countries in response
to pressures exercised by the importing countries
(i.e., in the form of threats of various types of import
restrictions).
When these two policies are partially liberalized,
subject to a reasonable foreign share in the domestic market,
product differentiation between imported goods and
domestic goods within an imperfect market can serve to increase
welfare levels within the domestic economy. In this
situation, the foreign share will not be as high as it
would be for the homogeneous assumption. Under a partial
VER liberalization policy, if the degree of substitutability
between domestic and imported goods is sufficiently
small, then domestic welfare will improve as foreign imports
are increased. That is, if domestic and imported
goods are perfect substitutes, then the most favorable
domestic policy will be to close domestic markets to the
foreign country since no country can allow foreign market
shares as high as 66 percent in the domestic market.
In a simulation of U.S. automobile industrial production,
when a partial quota liberalization is observed,
welfare levels can be increased by reducing the Japanese
import market share to a level below 10 percent, that is,
to a level which is less than the actual current foreign
market share. In real terms, this implies that U.S. auto
industry must be further liberalized to acquire additional
domestic benefits under a VER policy, whereas the U.S.
should restrict foreign market share below 10 percent to
maximize domestic welfare levels under a quota policy.
This will occur if the net consumer surplus is in excess of
producer net excess profits under an imperfect market
structure.Graduation date: 1993
32
Farr, Stephen J. "Cigarette advertising, price and social welfare : empirical evidence." Thesis, 1997. http://hdl.handle.net/1957/34027.
Full textAbstract:
This study estimates the welfare effects of cigarette advertising using the framework
posited by Becker and Murphy (1993). This model exposes previously unaccounted
benefits of cigarette advertising and allows for conventional social welfare estimation by
assimilating the theory of advertising into the general theory of complements. The policy
implications of the Becker and Murphy framework will rely on the impact of advertising
on equilibrium output price. A modification of the new empirical industrial organization
technique allows estimation of a supply relation containing advertising in an imperfectly
competitive environment. Allowing for different price effects of cigarette advertising
before and after the Broadcast Advertising Ban leads to the conclusion that advertising
after the ban has a larger price effect than before. This suggests that cigarette advertising
is better able to enhance market power after the Broadcast Advertising Ban. Parameter
estimates indicate that a one percent increase in cigarette advertising above its 1994 level
will precipitate a conservative estimate of a reduction in social welfare of $14.3 million (in
1982 dollars). Thus, even if one ignores externalities altogether, cigarette advertising is
clearly excessive from society's point of view.Graduation date: 1997
33
Lin, Dan 1975. "Exploration of role of market in perishable goods." Thesis, 2007. http://hdl.handle.net/2152/3533.
Full textAbstract:
Firms face a big challenge in matching the supply of perishable goods with uncertain demand in real time. In practice, the traditional supply chain models are proved not efficiently enough to lower firms' risk exposure. The purpose of the dissertation is to provide the theoretical framework of roles of several stylized markets in firms' risk management. In particular, we explore the influence of the spot business-to-business exchange market, forward contract market and credit-default swap market respectively. The dissertation is divided into the following three chapters. In chapter 1, we show that when the exchange market lacks perfect liquidity, a firm's capital structure has a greater influence on its output-level decisions, then the market is perfectly liquid. The impact may be even greater than that without an exchange market. This is primarily because the introduction of the exchange market causes firms to act strategically in absence of perfect liquidity. In chapter 2, we study the essential relationship between producers' forward contracts and their supply strategies in business-to-business exchange market. Specifically, we focus on the application of the electricity power exchange market in the US. Our model reveals that the strategic incentive makes producers to join in forward contract market voluntarily and increases social welfare. We show in chapter 1 that even when firms' risks are independent of each other, there is a chance that the realization of market uncertainty turns out to be the same. As a result, there is no exchange market as a platform to help firms hedge their risks. Therefore, we need other instruments in firms' risk management portfolio. In chapter 3, we propose a financial market, credit-default swap market, in which firm s can temporarily transfer default risks to outside investors. However, the "lemon" problem may cause social cost.
34
Alpay, Ebru. "The comparison of productivity growth in the U.S. and Mexican food processing sectors." Thesis, 1998. http://hdl.handle.net/1957/33482.
Full textAbstract:
In this study, the rates of technological change in food processing sectors of U.S. and Mexico are compared through econometric estimation of both the unrestricted (long-run) and restricted (short-run) profit functions with first order autocorrelation correction. Then, the dual rate of productivity growth is computed and decomposed into its sources. The impact of environmental regulations on productivity growth is also analyzed through incorporation of a pollution abatement variable into empirical models.
The hypothesis testing results on the existence of short-run equilibrium in capital
markets indicated that the restricted profit function framework is the valid specification
for the underlying production technologies of U.S. and Mexican food sectors during the
sample period, and hence, our conclusions are based on restricted profit function models.
Our results suggest that, in U.S., the average annual dual rate of technological change
dropped from 0.76% during 1963-73 to 0.67% during 1974-88, increased to 0.72%
between 1988-1990, and declined to 0.65% during 1990-93. In Mexico, the dual rate of
technological change was sharply declining during most of the years of sample period,
and the average annual rate dropped from 1.30% during 1971-74 to 0.01% between
1989-93. The dual rate of technological change was lower in U.S. than in Mexico during
1971-81 period, but the difference (dual technological change gap) was sharply declining. Starting from 1982, the dual rate of technological change became greater in U.S. than in Mexico and the difference was continuously increasing. Moreover, the decomposition of dual productivity growth into its sources reveals that technological change was the main source of productivity growth in both countries, although in Mexico, the effects of changes in output price on productivity growth outweighed the contributions of technological change during several years between 1982-94. The impact of capacity utilization had a minor impact on productivity growth in both countries.
The estimated elasticities of input demand and output supply indicated that labor demand is price inelastic, while material demand and output supply are price elastic in both countries. The own price elasticity of material and output was higher in Mexico than in U.S. In both countries, input demands are affected most significantly by output prices, while output supply is most significantly affected by its own price. The estimates for elasticity of substitution between labor and material imply that labor and material are complement of each other in both countries, with the degree of substitution between them is higher in Mexico than in U.S.
Finally, the estimated parameters corresponding to pollution abatement variable suggested that pollution abatement costs had no significant impact on the U.S. dual rate of technological change, and in turn, productivity growth rate, and this appears to be consistent with the fact that the share of pollution abatement costs is quite small in U.S. food processing sector. For the Mexico, the estimated parameters were individually significant, implying that one unit increase in pollution abatement variable reduced the dual rate of technological change by around 0.11% points during 1982-94 period.Graduation date: 1999
35
Miller, Jason D. "The economics of commodity promotion in the hazelnut industry." Thesis, 2012. http://hdl.handle.net/1957/36595.
Full textAbstract:
The objective of this study was to evaluate the effect of commodity promotion activities on the United States' hazelnut farmer's economic welfare. Commodity promotion activities, such as generic advertising and research, are the responsibilities of government mandated commodity commissions, such as the Hazelnut Marketing Board (HMB). The HMB is a state mandated cartel, organized under the Agricultural Marketing Agreement Act of 1937 (i.e. the Marketing Order) and amended in 1981, 1986, and 1989 (7 CFR Part 982, FR Doc. 81-14045 FR Doc. 86-18438, FR Doc. 89-26187). HMB promotion activities are funded by taxes levied on U.S. hazelnut farmers. To ensure that promotion provides a net benefit to these farmers this research uses Cost-Benefit Analysis (CBA) of the assessments under various assumptions about the market's conditions. A non-linear system of equations (SEM) with Monte Carlo simulation was utilized to produce these estimates.Graduation date: 2013
36
Wong, Lawrence Kar Kee. "Deregulation, technological change and inefficiency in the U.S. Motor Carrier Industry." Thesis, 1998. http://hdl.handle.net/1957/33214.
Full textAbstract:
This thesis presents two models to determine technological change and cost
inefficiency in the regulated U.S. Motor Carrier Industry following regulatory reform.
Data from the LTL sector of the industry from 1976 to 1987 are used in this study.
Results provide insights about the observed increase in industry concentration and the
effects of regulatory reform.
In chapter II, a translog cost function model is used to examine the impact of
deregulation and technological bias. We show that technological change has been labor
saving and purchased capital using, and that these input biases were induced by changes
in output level. The increase of capital cost share and the decrease of fuel cost share are
attributed to deregulation. Overtime, the LTL sector of the motor carrier industry has
become more capital intensive resulting in even higher entry barriers. Deregulation has
had a negative impact on technological change and led to higher industry costs.
In chapter III, a stochastic cost frontier model is used to examine cost
inefficiency. Results suggest that cost inefficiency accounts for 12.61% of the industry's
total cost and the average level of inefficiency has not significantly changed over time.
The mean estimates of firm-specific inefficiencies range between 5.5% and 29.6% for
the period 1976-1987. Based on the estimated firm-specific inefficiencies, Tobit
regression models are constructed to examine variations of inefficiency among firms in
different ICC regions and to identify factors contributing to overall inefficiency. The
main factors contributing to inefficiency are output, percent of LTL shipments, and input
ratios; in particular, large firms appears to operate more efficiently than small firms. We
also show that, although large firms have a slower rate of technological advancement
than small firms, economies of scale exist and are increasing over time. Therefore, the
rise in industry concentration could be justified from the standpoint of scale economies
and efficiency gain. Finally, deregulation has had no impact on the overall level of
inefficiency.Graduation date: 1999
37
Peterson, Henry Howard. "Analytic solutions to small scale two level programs with applications to the United States Department of Agriculture grain commodities programs." Thesis, 1986. http://hdl.handle.net/10125/9209.
Full textAbstract:
Binder's title on spine: United States Department of Agriculture grain commodities programs.Typescript.
Thesis (Ph. D.)--University of Hawaii at Manoa, 1986.
Bibliography: leaves 100-102.
Photocopy.
x, 102 leaves 29 cm
38
Nyasha, Sheilla. "Financial development and economic growth : new evidence from six countries." Thesis, 2014. http://hdl.handle.net/10500/18576.
Full textAbstract:
Using 1980 - 2012 annual data, the study empirically investigates the dynamic
relationship between financial development and economic growth in three
developing countries (South Africa, Brazil and Kenya) and three developed countries
(United States of America, United Kingdom and Australia). The study was motivated
by the current debate regarding the role of financial development in the economic
growth process, and their causal relationship. The debate centres on whether
financial development impacts positively or negatively on economic growth and
whether it Granger-causes economic growth or vice versa. To this end, two models
have been used. In Model 1 the impact of bank- and market-based financial
development on economic growth is examined, while in Model 2 it is the causality
between the two that is explored. Using the autoregressive distributed lag (ARDL)
bounds testing approach to cointegration and error-correction based causality test,
the results were found to differ from country to country and over time. These results
were also found to be sensitive to the financial development proxy used. Based on
Model 1, the study found that the impact of bank-based financial development on
economic growth is positive in South Africa and the USA, but negative in the U.K –
and neither positive nor negative in Kenya. Elsewhere the results were inconclusive.
Market-based financial development was found to impact positively in Kenya, USA
and the UK but not in the remaining countries. Based on Model 2, the study found
that bank-based financial development Granger-causes economic growth in the UK,
while in Brazil they Granger-cause each other. However, in South Africa, Kenya and
USA no causal relationship was found. In Australia the results were inconclusive.
The study also found that in the short run, market-based financial development
Granger-causes economic growth in the USA but that in South Africa and Brazil, the
reverse applies. On the other hand bidirectional causality was found to prevail in
Kenya in the same period.Economics
DCOM (Economics)
39
"Legal determinants of the entry modes of foreign direct investment: a study of US outward FDI." 2005. http://library.cuhk.edu.hk/record=b5892594.
Full textAbstract:
Law Wing Fai.Thesis (M.Phil.)--Chinese University of Hong Kong, 2005.
Includes bibliographical references (leaves [151]-156).
Abstracts in English and Chinese.
ABSTRACT --- p.I
摘要 --- p.II
ACKNOWLEDGEMENT --- p.III
TABLE OF CONTENTS --- p.IV
Chapter CHAPTER ONE --- INTRODUCTION --- p.1
Background --- p.1
Purpose --- p.3
Organization --- p.4
Chapter CHAPTER TWO --- REVIEW OF THEORIES AND LITERATURE --- p.5
The Literature on Foreign Direct Investment --- p.5
The Literature on Legal Issues --- p.10
Chapter CHAPTER THREE --- METHODOLOGY --- p.17
Data Collection --- p.17
Control Variables in Detail --- p.20
Design of Regression Models --- p.26
Methodology --- p.28
Chapter CHAPTER FOUR --- THE EFFECTS OF LEGAL FACTORS ON INVESTMENT MODE SELECTION --- p.29
Rationale for the Study --- p.29
Fundamental Differences between Partial Acquisition and JV --- p.30
Importance of Legal Institutions in the Choice of M&A and JV --- p.33
Hypothesis on the Effects of Legal Factors on Investment Mode Selection --- p.34
Hypothesis on Legal Origin --- p.34
Hypothesis on Shareholder Protection --- p.36
Hypothesis on the Government Enforcement Efficiency --- p.39
Hypothesis on Securities Regulation --- p.42
Hypothesis on Accounting Standard and Corporate Transparency --- p.42
Hypothesis on Other Legal Issues --- p.43
Empirical Evidence for the Effects of Legal Factors on Investment Mode Selection --- p.45
Legal Origin --- p.45
Shareholder Protection --- p.48
Government Enforcement Efficiency --- p.50
"Securities Regulation, Accounting Standard and Corporate Transparency" --- p.52
Other Legal Issues --- p.54
Chapter CHAPTER FIVE --- THE EFFECTS OF LEGAL FACTORS ON OWNERSHIP PROPORTION DECISION --- p.57
Rationale for the Study --- p.57
Hypothesis on the Effects of Legal Factors on Ownership Proportion Decision --- p.57
Hypothesis on Legal Origin --- p.59
Hypothesis on Shareholder Protection --- p.59
Hypothesis on Government Enforcement Efficiency --- p.59
Hypothesis on Securities Regulation --- p.60
Hypothesis on Accounting Standard and Corporate Transparency --- p.60
Hypothesis on Legal Origin --- p.60
Hypothesis on Shareholder Protection --- p.60
Hypothesis on Government Enforcement Efficiency --- p.61
Hypothesis on Securities Regulation --- p.61
Hypothesis on Accounting Standard and Corporate Transparency --- p.61
Hypothesis on Other Legal Issues --- p.61
Empirical Evidence for the Effects of Legal Factors on Ownership Proportion Decision --- p.63
Legal Origin --- p.63
Shareholder Protection --- p.65
Government Enforcement Efficiency --- p.66
"Securities Regulation, Accounting Standard and Corporate Transparency" --- p.67
Other Legal Issues --- p.68
Chapter CHAPTER SIX --- DISCUSSION AND CONCLUSION --- p.70
TABLE --- p.73
Table 1: The Variables --- p.73
Table 2: Shareholder protection around the world --- p.82
Table 3: Government enforcement efficiency around the world --- p.85
"Table 4: Accounting standard, corporate transparency, securities regulation, mandatory bid rule and cross-border regulation around the world" --- p.88
Table 5A: Effect of legal origin on investment mode selection --- p.91
Table 5B: Effect of shareholder protection on investment mode selection --- p.93
Table 5C: Effect of government enforcement efficiency on investment mode selection --- p.95
"Table 5D: Effect of securities regulation, accounting standard and corporate transparency on investment mode selection" --- p.97
Table 5E: Effect of other legal issues on investment mode selection --- p.99
Table 6A: Effect of legal origin on investment mode selection (controlling the ex-post ownership proportion) --- p.101
Table 6B: Effect of shareholder protection on investment mode selection (controlling the ex-post ownership proportion) --- p.103
Table 6C: Effect of government enforcement efficiency on investment mode selection (controlling the ex-post ownership proportion) --- p.105
"Table 6D: Effect of securities regulation, accounting standard and corporate transparency on investment mode selection (controlling the ex-post ownership proportion)" --- p.107
Table 6E: Effect of other legal issues on investment mode selection (controlling the ex-post ownership proportion) --- p.109
Table 7A: Effect of legal origin on investment mode selection (Majority ownership sample) --- p.111
Table 7b: Effect of shareholder protection on investment mode selection (Majority ownership sample) --- p.113
Table 7C: Effect of government enforcement efficiency on investment mode selection (majority ownership sample) --- p.115
"Table 7D: Effect of shareholder protection, accounting standard and corporate transparency on investment mode selection (majority ownership sample)" --- p.117
Table 7E: Effect of other legal issues on investment mode selection (Majority ownership sample) --- p.119
Table 8 A: Effect of legal origin on investment mode selection (Minority ownership sample) --- p.121
Table 8B: Effect of shareholder protection on investment mode selection (Minority ownership sample) --- p.123
Table 8C: Effect of government enforcement efficiency on investment mode selection (minority ownership sample) --- p.125
Table 8D: Effect of legal origin on investment mode selection (Minority ownership sample) --- p.127
Table 8E: Effect of other legal issues on investment mode selection (Minority ownership sample) --- p.129
Table 9A: Effect of legal origin on ownership proportion selection (M&A sample) --- p.131
Table 9b: Effect of shareholder protection on ownership proportion selection (M&A sample) --- p.133
Table 9C: Effect of government enforcement efficiency on ownership proportion selection (M&A sample) --- p.135
"Table 9D: Effect of securities regulation, accounting standard and corporate transparency on ownership proportion selection (m&a sample)" --- p.137
Table 9E: Effect of other legal issues on ownership proportion selection (M&A sample) --- p.139
Table 10A: Effect of legal origin on ownership proportion selection (JV sample) --- p.141
Table 10B: Effect of shareholder protection on ownership proportion selection (JV sample) --- p.143
Table 10C: Effect of government enforcement efficiency on ownership proportion selection (jv sample) --- p.145
"Table 10D: Effect of securities regulation, accounting standard and corporate transparency on ownership proportion selection (jv sample)" --- p.147
Table 10E: Effect of other legal issues on ownership proportion selection (jv sample) --- p.149
BIBLIOGRAPHY --- p.151
APPENDIX --- p.157
Appendix 1: Summary statistics of the variables used in investigation of investment mode selection --- p.157
Appendix 2: Summary statistics of the variables used in investigation of ownership proportion selection (m&a sample) --- p.159
Appendix 3: Summary statistics of the variables used in investigation of ownership proportion selection (JV sample) --- p.161
"Appendix 4: Correlations of Shareholder Protection, Corporate Transparency, Securities Regulation and other legal issues" --- p.163
"Appendix 5: Correlations of Shareholder Protection, Government Enforcement Efficiency, Corporate Transparency, Securities Regulation and other legal issues" --- p.164
"Appendix 6: Correlations of Shareholder Protection, Government Enforcement Efficiency and other legal issues" --- p.165
Appendix 7: Correlations of firm-level and country-level control variables --- p.166
40
Sunde, Tafirenyika. "A small macro-econometric model for Namibia emphasising the dynamic modelling of the wage-price, productivity and unemployment relationship." Thesis, 2015. http://hdl.handle.net/10500/21721.
Full textAbstract:
The contribution of this thesis is to build a small macro-econometric model of the Namibian economy, which demonstrates that there is significant statistical support for the hypothesis that there is a contemporaneous relationship between real wage, productivity, unemployment and interest rates in Namibia. This phenomenon has not yet been exploited using macro-econometric modelling, and thus, represents a significant contribution to modelling literature in Namibia. The determination of the sources of unemployment also receives special attention given that high unemployment is a chronic problem in Namibia. All models specified and estimated in the study use the SVAR methodology for the period 1980 to 2013. The study develops a small macro-econometric model using three modular experiments, which include, a basic model, models that separately append demand and exchange rate channels variables to the basic model, and the specification of a small macro-econometric model. The ultimate aim is to find out if monetary policy plays a role in influencing labour market and nominal variables. The hypothesis that the basic real wage, productivity, unemployment rate and interest rate system can be estimated simultaneously is validated. Further, demand and exchange rate channels variables are found to have important additional information, which explains the monetary transmission process, and that shocks to labour market variables affect monetary policy in Namibia. The results also show that the demand channel (import prices and bank credit to the private sector) and the exchange rate channel (nominal exchange rate) variables have important additional information, which affects monetary transmission process in Namibia, which justifies their inclusion in the small macro-econometric model. In addition, shocks to the import price and exchange rate in the macro-econometric model significantly affect labour market variables. However, shocks to bank credit only partially perform as expected, implying that its results need to be considered cautiously. The study further finds that tight monetary policy shocks significantly affect real and nominal variables in Namibia. The results also show that shocks to all variables in the unemployment model significantly affect unemployment, suggesting that the hysteresis assumption is corroborated. This implies that long run aggregate demand is non-neutral in Namibia.Economics
D. Litt. et Phil. (Economics)
41
Dambaza, Marx. "Credit risk measurement model for small and medium enterprises : the case of Zimbabwe." Thesis, 2020. http://hdl.handle.net/10500/26765.
Full textAbstract:
Abstracts in English, Zulu and Southern SothoThe advent of Basel II Capital Accord has revolutionised credit risk measurement (CRM) to the extent that the once “perceived riskier bank assets” are now accommodated for lending. The Small and Medium Enterprise (SME) sector has been traditionally perceived as a riskier and unprofitable asset for lending activity by Commercial Banks, in particular. But empirical studies on the implementation of the Basel II internal-ratings-based (IRB) framework have demonstrated that SME credit risk is measurable. Banks are still finding it difficult to forecast SME loan default and to provide credit to the sector that meet Basel’s capital requirements. The thesis proposes to construct an empirical credit risk measurement (CRM) model, specifically for SMEs, to ameliorate the adverse effects of SME credit inaccessibility due to high information asymmetry between financial institutions (FI) and SMEs in Zimbabwe. A well-performing and accurate CRM helps FIs to control their risk exposure through selective granting of credit based on a thorough statistical analysis of historical customer data. This thesis develops a CRM model, built on a statistically random sample, known-good-bad (KGB) sample, which is a better representation of the through-the-door (TTD) population of SME loan applicants. The KGB sample incorporates both accepted and rejected applications, through reject inference (RI). A model-based bound and collapse (BC) reject inference methodology was empirically used to correct selectivity bias inherent in CRM domain. The results have shown great improvement in the classification power and aggregate supply of credit supply to the SME portfolio of the case-studied bank, as evidenced by substantial decrease of bad rates across models developed; from the preliminary model to final model designed for the case-studied bank. The final model was validated using both bad rate, confusion matrix metrics and Area under Receiver Operating Characteristic (AUROC) curve to assess the classification power of the model within-sample and out-of-sample. The AUROC for the final model (weak model) was found to be 0.9782 whilst bad rate was found to be 14.69%. There was 28.76% improvement in the bad rate in the final model in comparison with the current CRM model being used by the case-studied bank.
Isivumelwano seBasel II Capital Accord sesishintshe indlela yokulinganisa ubungozi bokunikezana ngesikweletu credit risk measurement (CRM) kwaze kwafika ezingeni lapho izimpahla ezazithathwa njengamagugu anobungozi “riskier bank assets” sezimukelwa njengesibambiso sokuboleka imali. Umkhakha wezamaBhizinisi Amancane naSafufusayo, phecelezi, Small and Medium Enterprise (SME) kudala uqondakala njengomkhakha onobungozi obukhulu futhi njengomkhakha ongangenisi inzuzo, ikakhulu njengesibambiso sokubolekwa imali ngamabhange ahwebayo. Kodwa izifundo zocwaningo ezimayelana nokusetshenziswa nokusetshenziswa kwesakhiwo iBasel II internal-ratings-based (IRB) sezikhombisile ukuthi ubungozi bokunikeza isikweletu kumabhizinisi amancane nasafufusayo (SME) sebuyalinganiseka. Yize kunjalo, amabhange asathola ukuthi kusenzima ukubona ngaphambili inkinga yokungabhadeleki kahle kwezikweletu kanye nokunikeza isikweletu imikhakha enemigomo edingekayo yezimali kaBasel. Lolu cwaningo beluphakamisa ukwakha uhlelo imodeli ephathekayo yokulinganisa izinga lobungozi bokubolekisa ngemali (CRM) kwihlelo lokuxhasa ngezimali ama-SME, okuyihlelo elilawulwa yiziko lezimali ezweni laseZimbabwe. Imodeli ye-CRM esebenza kahle futhi eshaya khona inceda amaziko ezimali ukugwema ubungozi bokunikezana ngezikweletu ngokusebenzisa uhlelo lokunikeza isikweletu ababoleki abakhethekile, lokhu kususelwa ohlelweni oluhlaziya amanani edatha engumlando wekhasimende. Imodeli ye-CRM ephakanyisiwe yaqala yakhiwa ngohlelo lwamanani, phecelezi istatistically random sample, okuluphawu olungcono olumele uhlelo lwe through-the-door (TTD) population lokukhetha abafakizicelo zokubolekwa imali bama SME, kanti lokhu kuxuba zona zombili izicelo eziphumelele kanye nezingaphumelelanga. Indlela yokukhetha abafakizicelo, phecelezi model-based bound-and-collapse (BC) reject-inference methodology isetshenzisiwe ukulungisa indlela yokukhetha ngokukhetha ngendlela yokucwasa kwisizinda seCRM. Imiphumela iye yakhombisa intuthuko enkulu mayelana namandla okwehlukanisa kanye nokunikezwa kwezikweletu kuma SME okungamamabhange enziwe ucwaningo lotho., njengoba lokhu kufakazelwa ukuncipha okukhulu kwe-bad rate kuwo wonke amamodeli athuthukisiwe. Imodeli yokuqala kanye neyokugcina zazidizayinelwe ibhange. Imodeli yokugcina yaqinisekiswa ngokusebenzisa zombili indlela isikweletu esingagculisi kanye negrafu ye-Area under Receiver Operating Characteristic (AUROC) ukulinganisa ukwehlukaniswa kwamandla emodeli engaphakathi kwesampuli nangaphandle kwesampuli. Uhlelo lwe-AUROC lwemodeli yokugcina (weak model) lwatholakala ukuthi luyi 0.9782, kanti ibad rate yatholakala ukuthi yenza i-14.69%. Kwaba khona ukuthuthuka nge-28.76% kwi-bad rate kwimodeli yokugcina uma iqhathaniswa nemodeli yamanje iCRM model ukuba isetshenziswe yibhange elithile.
Basel II Capital Accord e fetotse tekanyo ya kotsi ya mokitlane (credit risk measurement (CRM)) hoo “thepa e kotsi ya dibanka” ka moo e neng e bonwa ka teng, e seng e fuwa sebaka dikadimong. Lekala la Dikgwebo tse Nyane le tse Mahareng (SME) le bonwa ka tlwaelo jwalo ka lekala le kotsi e hodimo le senang ditswala bakeng sa ditshebetso tsa dikadimo haholo ke dibanka tsa kgwebo. Empa dipatlisiso tse thehilweng hodima se bonweng kapa se etsahetseng tsa tshebetso ya moralo wa Basel II internal-ratings-based (IRB) di supile hore kotsi ya mokitlane ya SME e kgona ho lekanngwa. Leha ho le jwalo, dibanka di ntse di thatafallwa ke ho bonelapele palo ya ditlholeho tsa ho lefa tsa diSME le ho fana ka mokitla lekaleng leo le kgotsofatsang ditlhoko tsa Basel tsa ditjhelete. Phuputso ena e ne sisinya ho etsa tekanyo ya se bonwang ho mmotlolo wa kotsi ya mokitlane (CRM) tshebetsong ya phano ya tjhelete ya diSME e etswang ke setsi sa ditjhelete (FI) ho la Zimbabwe. Mmotlolo o sebetsang hantle hape o fanang ka dipalo tse nepahetseng o dusa diFI hore di laole pepeso ya tsona ho kotsi ka phano e kgethang ya mokitlane, e thehilweng hodima manollo ya dipalopalo ya dintlha tsa histori ya bareki. Mmotlolo o sisingwang wa CRM o hlahisitswe ho tswa ho sampole e sa hlophiswang, e leng pontsho e betere ya setjhaba se ikenelang le monyako (TTD) ya batho bao e kang bakadimi ba tjhelete ho diSME, hobane e kenyelletsa bakopi ba amohetsweng le ba hannweng. Mokgwatshebetso wa bound-and-collapse (BC) reject-inference o kentswe tshebetsong ho nepahatsa tshekamelo ya kgetho e leng teng ho lekala la CRM. Diphetho tsena di bontshitse ntlafalo e kgolo ho matla a tlhophiso le palohare ya phano ya mokitlane ho diSME tsa banka eo ho ithutilweng ka yona, jwalo ka ha ho pakilwe ke ho phokotseho ya direite tse mpe ho pharalla le dimmotlolo tse hlahisitsweng. Mmotlolo wa ho qala le wa ho qetela e ile ya ralwa bakeng sa banka. Mmotlolo wa ho qetela o ile wa netefatswa ka tshebediso ya bobedi reite e mpe le mothinya wa Area under Receiver Operating Characteristic (AUROC) ho lekanya matla a kenyo mekgahlelong a mmotlolo kahare ho sampole le kantle ho yona. AUROC bakeng sa mmotlo wa ho qetela (mmotlolo o fokotseng) e fumanwe e le 0.9782, ha reite e mpe e fumanwe e le 14.69%. Ho bile le ntlafalo ya 28.76% ho reite e mpe bakeng sa mmotlolo wa ho qetela ha ho bapiswa le mmotlolo wa CRM ha o sebediswa bankeng yona eo.
Graduate School of Business Leadership
D.B.L.
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"Determining the contributions to price discovery of China cross-listed stocks." 2005. http://library.cuhk.edu.hk/record=b5892498.
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Su Qian.Thesis (M.Phil.)--Chinese University of Hong Kong, 2005.
Includes bibliographical references (leaves 66-70).
Abstracts in English and Chinese.
Abstract --- p."i,ii"
Acknowledgements --- p.iii
Table of Content --- p.iv
List of Tables and Figures --- p.v
List of Abbreviation --- p.vi
Chapter Chapter 1. --- Introduction --- p.1
Chapter Chapter 2. --- Literature Review --- p.4
Chapter 2.1 --- Benefits of Cross-listing --- p.4
Chapter 2.2 --- The Price-discovery process of cross-listed stocks --- p.8
Chapter 2.3 --- Previous studies on Chinese cross-listed stocks --- p.2
Chapter Chapter 3. --- China Overseas Listing --- p.15
Chapter 3.1 --- The history of overseas listing --- p.15
Chapter 3.2 --- Methods of overseas listing --- p.17
Chapter 3.3 --- The motivation for Chinese firms to list overseas --- p.18
Chapter 3.4 --- The prospects of China Overseas listing --- p.21
Chapter Chapter 4. --- Price-discovery contributions to China-backed stocks cross-listed on SEHK and NYSE --- p.23
Chapter 4.1 --- Data --- p.23
Chapter 4.2 --- Methodology --- p.25
Chapter 4.3 --- Empirical Results and Interpretation --- p.31
Chapter 4.4 --- Cross-Sectional analysis of NYSE contributions to the price-discovery process --- p.40
Chapter Chapter 5. --- Price-discovery contributions to the cross-listed H share and A share --- p.45
Chapter 5.1 --- Data and Sample details --- p.46
Chapter 5.2 --- Methodology --- p.49
Chapter 5.3 --- Empirical results and interpretation --- p.54
Chapter 5.4 --- A brief analysis of cointegration determinants --- p.57
Chapter 5.5 --- The cointegration between H share and A share- Daily analysis --- p.61
Chapter Chapter 6. --- Conclusion --- p.64
Reference --- p.66
Tables --- p.71
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Kim, Sung-Ju. "The impact of federal government welfare expenditures on state government expenditures and philanthropic giving to human service organizations (HSOs) : 2005-2006." Thesis, 2014. http://hdl.handle.net/1805/4523.
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Indiana University-Purdue University Indianapolis (IUPUI)A sizeable body of research has attempted to examine the interaction between government spending and private giving known as the crowd-out effect. Most researchers reported that increases of government spending cause decreases of philanthropic giving to different types of nonprofits. However, few studies have attempted to indicate the interaction between government welfare expenditures and private giving to human service organizations even though human service organizations are the most sensitive to the changes of government spending. Additionally, the estimated crowd-out effects with a simple crowd-out model have been criticized for potential endogeneity bias. This paper investigates the total effect of federal government welfare spending on state government expenditures and philanthropic giving to human service organizations (known as joint crowd-out). I used the 2005 wave of the Center on Philanthropy Panel Study (COPPS) to estimate the effect of federal human service grants on state government spending on, and donations to human services. From these reduced-form estimates I infer the levels of simple and joint crowd-out. I found that indicate federal spending on public welfare crowds out private giving to human service organizations while holding control variables constant in the donations equation. However, federal government spending on public welfare crowds in state government spending on public welfare.
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Stevens, Gale Patrick. "Training and selection of police officers: toward a community police model." Thesis, 2005. http://hdl.handle.net/10500/1757.
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In the study of Training and Selection of Police Officers: Toward a Community Police Model the researcher relied on data gathered using questionnaires distributed in a broad geographical range and among a diverse but relevant respondent population. Samples were obtained from police officers, and candidate officers in training and citizens from the southeastern and northeastern sections of the United States.
Overall accuracy of survey documents is believed to be high. Survey documents were tested using a Chronbach's alpha test for validity and were constructed around a Likert type scale for responses. Analysis of data was accomplished using a one way analysis of variance (ANOVA) Tukey post hoc test with a .05 level of significance.
Outcomes suggested a relationship between more conservative belief patterns among police officers and their post secondary education levels. Additional possibilities were noted in the overall training systems related to the police respondents as in alignment with current needs for traditional policing but, not necessarily adequate for community policing needs. These views also proceeded along educational lines. In addition, outcomes of researched based secondary education models constructed during the research, and even European models for police selection and training may offer some solutions for police in the United States. Other valuable points found during the study were indicators that careful personnel selection and college education when found in predominance among members, seemed to positively alter the general working environment of one police agency involved in the study.Political Practice
D.Litt. et Phil.(Police Science)
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Giles, Clark Andrew. "Regime fatigue : a cognitive-psychological model for identifying a socialized negativity effect in U.S. Senatorial and Gubernatorial elections from 1960-2008." Thesis, 2014. http://hdl.handle.net/1805/4649.
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Indiana University-Purdue University Indianapolis (IUPUI)This research project proposes to try to isolate and measure the influence of “regime fatigue” on gubernatorial elections and senatorial elections in the United States where there is no incumbent running. The research begins with a review of the negativity effect and its potential influence on schema-based impression forming by voters. Applicable literature on the topics of social clustering and homophily is then highlighted as it provides the vehicle through which the negativity effect disseminates across collections of socially-clustered individuals and ultimately contributes to changing tides of public opinion despite the fact that the political party identification can remain relatively fixed in the aggregate.
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Francisco, Albertino da Boa Morte. "Construção de um novo modelo conceptual de estratégia de desenvolvimento económico para os pequenos Estados insulares em desenvolvimento." Doctoral thesis, 2015. http://hdl.handle.net/10284/5960.
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Small Island Developing States (SIDS), como categoria de países, foi criada pelo sistema da ONU, em 1992, para designar pequenos Estados insulares que partilham vulnerabilidades económicas, sociais e ambientais peculiares aos mesmos, decorrentes da sua insularidade e do seu pequeno tamanho. Por este facto, em 1994, a ONU criou o Plano de Ação de Barbados (BPOA) para ajudar estes países a superarem as supramencionadas vulnerabilidades.
O BPOA foi unanimemente adotado pelos SIDS e tem sido o único instrumento internacional de desenvolvimento concebido para estes países e subscrito coletivamente pelos mesmos. Porém, as estratégias de desenvolvimento económico baseadas neste plano de ação, que vêm sendo implementadas nos SIDS desde a sua adoção, há mais de duas décadas, não têm respondido de forma adequada às necessidades de desenvolvimento destes países. Em alguns casos, as vulnerabilidades vêm-se agravando.
A falha do BPOA em ajudar os SIDS a atingirem os objetivos para que foi concebido decorre do seu foco na gestão ambiental, em detrimento do crescimento económico (do PIB), e a sua abordagem exógena de desenvolvimento, que coloca ênfase na assistência internacional e exacerba a dependência destes países de fatores exógenos, em detrimento da promoção ou do aproveitamento dos fatores endógenos de desenvolvimento.
Em busca de uma alternativa viável ao BPOA, este estudo utilizou a metodologia de investigação construtiva para conceber um novo modelo conceptual de estratégia de desenvolvimento económico para os SIDS (EDE-SIDS), adotando uma abordagem endógena de desenvolvimento e um foco no crescimento económico, buscando encontrar um equilíbrio entre a geração da riqueza, o desenvolvimento social e a sustentabilidade ambiental.
O EDE-SIDS foi validado conceptualmente junto a 73 pontos focais de 43 organismos internacionais, bilaterais e regionais, e um painel de 392 especialistas que operam nos sectores público, privado, social e internacional, ligados direta ou indiretamente às questões de desenvolvimento dos SIDS. Foi ilustrado com o caso de São Tomé e Príncipe (STP), onde se fez aproximação ao caso concreto de um dos SIDS.Small Island Developing States (SIDS), as a category of countries, was created by the UN system in 1992 to describe small island states that share economic, social and environmental vulnerabilities peculiar to them, arising from their insularity and small size. For this reason, in 1994, the UN created the Barbados Plan of Action (BPOA) to help these countries overcome the above vulnerabilities. The BPOA was unanimously adopted by SIDS and has been the only international development instrument designed for these countries, which was endorsed collectively by them. However, economic development strategies based on this action plan, being implemented in SIDS since its adoption, for over two decades, have not responded adequately to the development needs of these countries. In some cases, the vulnerabilities come up worse. The failure of the BPOA in helping SIDS to achieve the objectives for which it was designed stems from its focus on environmental management at the expense of economic growth (GDP), and its exogenous development approach, which places emphasis on international assistance and exacerbates the dependence of these countries to exogenous factors, at the expense of promotion or utilization of endogenous development. In search of a viable alternative to the BPOA, this study used the constructive research methodology to design a new economic development strategy model for SIDS (EDS-SIDS), adopting an endogenous development approach and a focus on economic growth, seeking a balance between creation of wealth, social development and environmental sustainability. The EDS-SIDS was validated conceptually with 73 focal points of 43 international, bilateral and regional bodies, and a panel of 392 experts operating in the public, private, social and international sectors directly or indirectly linked to development issues of SIDS. It was illustrated with the case of Sao Tome and Principe (STP), which made approach to the case of one of the SIDS.
Petits États insulaires en développement (PEID) comme une catégorie de pays a été créée par le système des Nations Unies en 1992 pour décrire les petits Etats insulaires qui partagent vulnérabilités économiques, sociales et environnementales qui leur sont propres, découlant de leur insularité et petite taille. Pour cette raison, en 1994, l’ONU a créé le Plan d'action de la Barbade (PAB) pour aider ces pays à surmonter les vulnérabilités ci-dessus. Le PAB a été adopté à l’unanimité par les PEID et a été le seul instrument de développement international conçu pour ces pays, qui a été approuvé collectivement par eux. Cependant, les stratégies de développement économique fondées sur ce plan d’action, mis en oeuvre dans les PEID, depuis son adoption, depuis plus de deux décennies, ne l’ont pas répondu de manière adéquate aux besoins de développement de ces pays. Dans certains cas, les vulnérabilités viennent pire. L’échec du PAB pour aider les PEID à atteindre les objectifs pour lesquels il a été conçu découle de l'accent mis sur la gestion de l’environnement au détriment de la croissance économique (PIB), et sa démarche de développement exogène, qui met l’accent sur l’assistance internationale et exacerbe la dépendance de ces pays à des facteurs exogènes, au détriment de la promotion ou l’utilisation d’un développement endogène. A la recherche d’une alternative viable au PAB, cette étude a utilisé la méthodologie de la recherche constructive pour concevoir un nouveau modèle conceptuel de stratégie de développement économique pour les PEID (EDE-PEID), en adoptant une approche de développement endogène et un accent sur la croissance économique, à la recherche d’un équilibre entre la création de la richesse, le développement social et la durabilité environnementale. L’EDE-PEID a été validé conceptuellement avec 73 points focaux de 43 organismes internationaux, régionaux et bilatéraux, et un panel de 392 experts opérant dans les secteurs publics, privés, sociaux et internationaux directement ou indirectement lié à des questions de développement des PEID. Il a été illustré par le cas de Sao Tomé-et-Principe (STP), qui a fait l’approche au cas de l’un des PEID.