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 choice of two tax instruments with which to raise revenue: the property tax and a residence-based income tax. Economic theory predicts that local governments, if given the choice, would prefer to diversify their tax base to reduce the political costs associated with excessive reliance on one tax. Why then, do some school districts not utilize the income tax? This paper extends earlier work on this issue by showing that income inequality is negatively associated with the choice of an income tax.

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Fiscal competition and tax instrument choice: the role of income inequality

The Political Economy of Medical Marijuana Laws

There are many goals an instructor may wish to accomplish in a course on economic principles. For us the definitive goal is the generation of sensible and active members of a civil society. This is an ambitious goal: it requires that students internalize the economic way of thinking and learn to exercise active citizenry. After experimenting with a variety of methods, we have concluded that requiring students to write an op-ed is the most conducive to the achievement of this goal. Here we share what we have learned in the process, hoping that the pedagogical capability of writing an op-ed will encourage others to adopt the assignment into their classrooms.

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Teaching the Economic Way of Thinking Through Op-Eds

The quality of a state's judicial system is an important determinant of economic growth and vitality. The decisions made within state judicial systems affect the degree to which private property rights are well-defined and enforced, which is an essential building block for entrepreneurial activity and economic growth. The key link between free-market institutions, such as secure property rights, and entrepreneurial activity has been demonstrated by Kreft and Sobel (2005) and Ovaska and Sobel (2005). Bad court decisions often infringe on the individual liberties and freedoms that are essential underpinnings for civil society and a well-functioning market economy (see Dorn 1985 and others in that special issue of the Cato Journal on this general topic). In addition, decisions made within state judicial systems also have important effects on the cost of doing business in a state. Poor liability rules reflected in state judicial decisions have been blamed for high medical malpractice rates, high workers" compensation rates, and high automobile insurance rates in many states. Judicial decisions also impact the costliness of mandates and other regulations faced by businesses. Thus, it is clear that the judicial system is important for economic activity, and thus so is the selection mechanism that is used to determine the membership of state courts. States use different methods for the selection of judges. In 29 states, the governor or legislature appoints judges, while in 21 states popular elections are used to select judges. (1) Among those states that elect judges, 8 rely on partisan elections, in which the judicial candidates run as a member of a particular political party, while the 13 other states use nonpartisan elections. (2) The extremely politicized nature of partisan elections casts some doubt on their ability to efficiently select unbiased judges. The 2004 state supreme court election in West Virginia provides a good example. This was the most expensive judicial election in the nation in 2004, with the Democratic incumbent spending $376,000 to the opponents $540,000. In addition, this spending was dwarfed by the spending on political advertisements and publicity by other groups in the state. One pro-incumbent group spent more than $1 million by itself, while the largest anti-incumbent group spent $2.5 million. The organized labor union interests in the state took the incumbent's side while the business associations supported the challenger. The candidates themselves ran on political platforms reflecting their party affiliation. The incumbent, well known for his reputation of deciding cases for labor interest and against business interests, stressed this reputation in his media ads, while the challenger outwardly vowed to decide cases in a more business friendly manner if he were to be elected. In partisan election states, citizens are used to this political bias in judicial elections, and there is no veil of judicial decisions being unbiased. Public opinion polls from these partisan election states confirm this claim. Geyh (2003) cites polls from Texas and Ohio that find more than 80 percent of adults believe that campaign contributions to judges running for election have a significant influence on subsequent judicial decisions they make. If an unbiased and fair judicial system is important, it is clear that having judicial candidates run for office on political platforms, with heavy support from labor or business groups, works contrary to this goal. In this article, we focus on two issues related to the determinants of judicial quality. Do states using partisan elections have lower judicial quality? If so, do states with partisan judicial elections have judicial outcomes that clearly differ depending on which political party controls the court? The article proceeds by first reviewing the previous literature on judicial appointment versus judicial election. We then continue by presenting data on the quality of state judicial systems and on other measures of judicial outcomes, and attempt to uncover the impact of partisan elections, and of specific party control. …

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The effect of judicial selection processes on judicial quality: the role of partisan politics

This special issue of the Journal of Regional Analy- sis and Policy makes the case that the literature on economic freedom is important to many of the ques- tions that regional economists study. Why do peo- ple migrate from one region to another? Why are some places rich and others poor? What role does public policy play in regional economic develop- ment? These are important questions for which I feel regional economists have good answers, other- wise I would not have gone to West Virginia University in part to study urban and regional economics.While a graduate student at West Virginia, how- ever, I was also exposed to the large literature that uses measures of economic freedom when trying to empirically answer these questions. Broadly speak- ing, economic freedom can be thought of as personal choice, the freedom to trade both domestically and abroad, the ability to enter and compete in markets, and the rule of law and protection of private proper- ty rights (Gwartney, Lawson, and Hall, 2012). Scholarship in this area took off in the late 1990s fol- lowing the first publication of the Economic Freedom of the World (EFW) index (Gwartney, Lawson, and Block, 1996), which measured economic freedom at five-year intervals for a large number of countries. Updated regularly since its initial publication, data now exists for many countries from 1970 to 2000 at five-year intervals and annually since 2000. A simi- lar measure of economic freedom at the level of U.S. states and Canadian provinces called the Economic Freedom of North America (EFNA) is available annual- ly from 1981 to 2010 (Bueno, Ashby, and McMahon, 2012). The full historical data set and all annual reports for both indices are available free online at www.freetheworld. com.The origins of this special issue, however, began with a research project that culminated in Hall and Lawson (forthcoming). In that paper, Robert Law- son and I provide an accounting of the 402 papers in Social Science Citation Index (SSCI) journals that cite the EFW report in some fashion. In reading through the list of journals that published articles using the economic freedom of the world index, I was very surprised to see only three articles from regional or urban journals. That is as many citations as from the Journal of Accounting ResearchlI thought this might be due to the fact that many regional scientists focus on regions within the Unit- ed States. Looking at citations to the EFW might therefore miss citations to the literature that look at U.S. states or Canadian provinces. A Google Scholar search (in order to cast a wider net than the SSCI) of citations to the EFNA (Bueno, Ashby, and McMah- on, 2012) yielded only one citation in a regional journal (King, 2005) ,1 Even that citation, however, was not due to the regional literature taking notice of the economic freedom literature. Rather, it oc- curred because the author was a West Virginia Uni- versity graduate student who also had exposure to both strains of scholarship during graduate school.This caused me to realize that the problem was not that regional scientists were ignoring this litera- ture. Rather, it was that scholars researching in the area of overlap between economic freedom and regional economics did not view themselves as "doing regionar and thus did not submit their work to regional journals where it could be read and no- ticed by regional scientists. In order to get economic freedom researchers to speak more to regional scien- tists, I organized two sessions at 2011 meetings of the Association of Private Enterprise Education (APEE) on the topic of economic freedom and re- gional economics. As a conference that regularly hosts multiple sessions on economic freedom, APEE was the perfect venue to begin this dialogue. …

Joshua C. Hall

Papers

Fiscal competition and tax instrument choice: the role of income inequality

The Political Economy of Medical Marijuana Laws

Teaching the Economic Way of Thinking Through Op-Eds

The effect of judicial selection processes on judicial quality: the role of partisan politics

Economic Freedom and Regional Economics: An Introduction to a Special Issue