世界経済・社会統計 = World development indicators

1. Introduction and Overview. 2. Detecting Influential Observations and Outliers. 3. Detecting and Assessing Collinearity. 4. Applications and Remedies. 5. Research Issues and Directions for Extensions. Bibliography. Author Index. Subject Index.

Regression Diagnostics: Identifying Influential Data and Sources of Collinearity

The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s "veil of ignorance": individuals unknowingly pursue society’s interest and, as a result, have no clue as to the macroeconomic effects of their actions: witness the Keynes and Leontief multipliers, the concept of value added, fiat money, Engel’s law and technical progress, to name but a few of the macrofoundations of microeconomics. A good viewpoint to take bearings anew lies in comparing the post-Great Depression institutions with those emerging from Thatcher and Reagan’s economic policies: deregulation, exogenous vs. endoge- nous money, shadow banking vs. Volcker’s Rule. Very simply, the banks, whose lending determined deposits after Roosevelt, and were a public service became private enterprises whose deposits determine lending. These underlay the great moderation preceding 2006, and the subsequent crash.

The Economic Institutions of Capitalism

1. Interaction. The interactions learners have with each other build interpersonal skills, such as listening, politely interrupting, expressing ideas, raising questions, disagreeing, paraphrasing, negotiating, and asking for help. 2. Interdependence. Learners must depend on one another to accomplish a common objective. Each group member has specific tasks to complete, and successful completion of each member’s tasks results in attaining the overall group objective.

将“Cooperative Learning”融入课堂——浅谈英语素质教育

This paper sets out to explore contexts for entrepreneurship, illustrating how a contextualized view of entrepreneurship contributes to our understanding of the phenomenon. There is growing recognition in entrepreneurship research that economic behavior can be better understood within its historical, temporal, institutional, spatial, and social contexts, as these contexts provide individuals with opportunities and set boundaries for their actions. Context can be an asset and a liability for the nature and extent of entrepreneurship, but entrepreneurship can also impact contexts. The paper argues that context is important for understanding when, how, and why entrepreneurship happens and who becomes involved. Exploring the multiplicity of contexts and their impact on entrepreneurship, it identifies challenges researchers face in contextualizing entrepreneurship theory and offers possible ways forward.

https://papers.ssrn.com/sol3/Delivery.cfm/j_1540-6520_2010_00427_x_wml.pdf?abstractid=1784106&mirid=2

Contextualizing Entrepreneurship—Conceptual Challenges and Ways Forward:

School districts in Ohio have the option of diversifying their revenue base by adopting income taxes. Using a panel of Ohio school districts that adopted a local income tax from 1990 to 2008, we find that revenues are procyclical and fluctuate only mildly. The estimated short‐ and long‐run income elasticity of school district income tax revenues is 1.05 and 1.04, respectively. We also find that the school district tax base fully adjusts to its long‐run equilibrium within 2 years. Finally, we show that school district income tax adoption does not provide more stability to total school district tax revenues in the short or the long run. (JEL H71, H75)

/pdf/growth-and-variability-of-school-district-income-tax-3eo19uwar4.pdf

Growth and variability of school district income tax revenues: is tax base diversification a good idea for school financing?

Institutional implant and economic stagnation: a counterfactual study of Somalia

The widely cited Economic Freedom of the World index is an aggregate measure of economic freedom calculated by using a simple arithmetic mean of scores over five sub-dimensions: (1) size of...

Measuring economic freedom: an alternative functional specification and subsequent ranking

The Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) were created by the IMF and World Bank to help low-income countries reduce their debt burden and to facilitate reaching the Millennium Development Goals. After entering he decision point of the HIPC Initiative stage, countries receive interim aid while following a strategic path to improve their macroeconomic stability via structural reforms. Many countries reached the completion point of the HIPC Initiative stage within a few years, receiving a substantial amount of debt relief. Other countries remained in the interim period for almost a decade. We explore the relationship between the level of corruption in HIPC countries and the length of time between the decision and the completion point. We use survival-time models to estimate the effect of various characteristics of the countries on the probability that each country will exit the interim period. The results show that countries with lower corruption and better rule of law complete the HIPC process faster.

/pdf/is-there-moral-hazard-in-the-heavily-indebted-poor-countries-1nc94bqea4.pdf

Is there moral hazard in the heavily indebted poor countries (hipc) initiative debt relief process

The income convergence literature suggests that poor countries or regions can catch up to rich ones conditional on sharing certain characteristics with rich countries or regions. Good institutions such as strong property rights and rule of law are key among those characteristics. Globalization provides opportunities for agents in poor economies to learn about and experi-ment with institutional innovations across regions. We estimate the relationship between glob-alization and cross-country income convergence using a panel of up to 184 countries covering 1970 to 2009. We employ the KOF index of globalization and control for measures of political and economic institutional quality. A standard deviation increase in the KOF index is associ-ated with a country closing the gap between its income per capita level and that of the richest country by an additional 13.6% annually.

Joshua C. Hall

Papers

Growth and variability of school district income tax revenues: is tax base diversification a good idea for school financing?

Institutional implant and economic stagnation: a counterfactual study of Somalia

Measuring economic freedom: an alternative functional specification and subsequent ranking

Is there moral hazard in the heavily indebted poor countries (hipc) initiative debt relief process

Globalization, institutions, and income convergence