Matching Items (9)

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Regional Approach: The North American Free Trade Agreement

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The North American Free Trade Agreement was passed by the U.S. Congress in November 1993. The United States had decided that a regional trade approach would be more beneficial than

The North American Free Trade Agreement was passed by the U.S. Congress in November 1993. The United States had decided that a regional trade approach would be more beneficial than bilateral trade with its neighbors. This move accepted Mexico as an equal economic partner with the United States and Canada despite their economic deficiencies. The NAFTA agreement came into effect on January 1, 1994. Canada, Mexico, and the United States agreed to eliminate tariffs on roughly ninety-nine percent of internationally traded goods by the end of 2004. The agreement was also significant because the three nations took a big step in further liberalizing Foreign Direct Investment policies. NAFTA resulted in what is today a $19 trillion regional market with over 470 million consumers. The U.S. Chamber of Commerce estimates that six million U.S. jobs depend on trade with Mexico and another eight million jobs depend on trade with Canada. As seen, economic interests clearly dominated the NAFTA debate on all fronts. There still were other domestic political interests that further pushed the United States to seek regional integration with Canada and Mexico. Drugs, energy, pollution, and the threat of American jobs as a result of Mexico’s low wages were all major issues considered in the United States at the time. The issues noted above can be closely linked to the United States’ national security interests. Policy-makers and treaty negotiators constantly connected the passage of this agreement to the long-term interests of the United States. For NAFTA to have a chance in the first place, all operational concerns had to have been resolved first. The governing structure for management of the activities that fall under NAFTA’s umbrella was a huge prerequisite. Additionally, separate side agreements with Canada and Mexico had to be negotiated so that the they would offset any future problems NAFTA might create for the United States. Although a challenge, it all came together perfectly and the passage was successfully implemented. Taking everything into consideration, the United States should stray way from its’ isolationist ways and pursue a regional agreement like NAFTA for the betterment of all North Americans.

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Created

Date Created
  • 2019-05

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The Economic Effectiveness of Sanctions Imposed by the US and UN

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This study attempts to reconcile the gap in literature between the abundant research in the social consequences of sanctions but a consistent lack of information regarding its economic effectiveness. I

This study attempts to reconcile the gap in literature between the abundant research in the social consequences of sanctions but a consistent lack of information regarding its economic effectiveness. I apply a modified neoclassical growth model to analyze the extent that sanctions imposed by the US and UN impact real per capita GDP growth rate. Using the original data, I modify the model employed in the Neuenkirch and Neumeier (2015) study by replacing a fixed effect model with time trends. The results are more aligned with previous economic research on sanctions where sanctions imposed by the US have a moderate but significant 1.5 percent decline effect on GDP growth rate. On the other hand, sanctions imposed by the UN are similarly negative, imposing about a .9 percent decline in GDP growth, however are not statistically significant. While I cannot reject the conclusion by the original authors, I feel that this model provides a more fitting analysis of the impact sanctions impose on GDP growth.

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Date Created
  • 2019-05

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Money or Mercy? What Really Drives US/Middle Eastern Relationships?

Description

"The rights of every man are diminished when the rights of one man are threatened".
- John F Kennedy

For over a century now, the United States has publicly professed a

"The rights of every man are diminished when the rights of one man are threatened".
- John F Kennedy

For over a century now, the United States has publicly professed a commitment to upholding human rights around the world, yet to this day economically supports numerous dictatorships and undemocratic regimes that flout human rights on a daily basis. The rhetoric of American politicians would imply that human rights and democracy are a priority in America's foreign policy, yet given US support for autocracies, both of these principles seem forgotten. If not respect for democracy and human rights, what is truly influencing America's relationship with these countries? I hypothesize that a country's resource availability will be the best predictive factor for its economic relationship with the US, followed by its military involvement with the US, and finally, human rights records will be the least predictive factor. The study found that a country's military cooperation with the US is the best predictive factor regarding our economic relationship, resource availability comes with a weak correlation, and human rights abuses very rarely substantively impact our economic relationships.

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Created

Date Created
  • 2020-05

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Origins, Economics, and Significance of Trade Imbalances in a Modern, Globalized World

Description

Government and news outlets everywhere preach that trade is hurting their domestic economy. However, trade is supposed to be beneficial to all theoretically. So where is the disconnect? This thesis

Government and news outlets everywhere preach that trade is hurting their domestic economy. However, trade is supposed to be beneficial to all theoretically. So where is the disconnect? This thesis was created to gather understanding about trade in the real world and how it can be accurately portrayed. First, I looked at the basics of bilateral and multilateral trade to show that trade imbalances will always exist and show that this idea that countries have that trade surpluses are best is incorrect. Second, I compared the accuracies of the two measures of trade that exist: balance of trade and current account measures. I conducted this research to show that the common measure of trade (balance of trade) is inaccurate and the stronger, more accurate measure is the current account measure. After coming to this conclusion, I began to see what factors in countries affect their current account balance. I looked at five categories: demographics, investment climate, level of economic development, existence of a technology boom, and current trade policy, and looked at theoretical explanations for how each one affects the current account. In the end, I was able to create a theory based on these five factors to predict the current account balance in any country and describe its trade health. In conclusion, I found that the issue of trade misconceptions lies in which measurement someone uses, and this simple misunderstanding can lead to things such as trade wars and global economic degradation.

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Created

Date Created
  • 2018-05

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Trade Liberalization and Economic Degradation

Description

This thesis looks at the theory and empirical evidence that surrounds the debate between environmentalists and economists regarding the link between trade liberalization and environmental degradation. The main points of

This thesis looks at the theory and empirical evidence that surrounds the debate between environmentalists and economists regarding the link between trade liberalization and environmental degradation. The main points of the theory are the scale, composition, and technique effects which, when aggregated, are ambiguous as the harm or benefit of trade's effect on the environment. The empirical evidence studied ranges in time periods from the early 1990s to 2011 and mainly focuses on the existence or absence of an environmental Kuznets curve for certain pollutant. However, the data still proves to be inconclusive. The debate about the possible link between trade and the environment is as important as ever, especially in regards to carbon dioxide emissions. Going forward, it is extremely important that international cooperation regarding emissions targets and abatement goals increases. Trade will prove to be an invaluable tool in this endeavor as it provides a mechanism for the spread of green technology as well as can be used as a method of environmental policy enforcement.

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Created

Date Created
  • 2016-05

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The View from Inside

Description

An in-depth look at intra-prisoner trade and debt within an AZ Department of Corrections state prison, focusing on the monopolistic activities of privately held corporations profiting off 2.2 million incarcerated

An in-depth look at intra-prisoner trade and debt within an AZ Department of Corrections state prison, focusing on the monopolistic activities of privately held corporations profiting off 2.2 million incarcerated U.S. citizens, with an emphasis on their rights to freedom of speech, press and religion, attempting to answer the question whether it is ethical and feasible to market goods and services to this isolated market.

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Created

Date Created
  • 2019-05

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The AfCFTA in Context of Developmental Policy

Description

The African Continental Free Trade Agreement is one of the latest developments in the world of African politics. It influences several key policy arenas, including the focus of this paper:

The African Continental Free Trade Agreement is one of the latest developments in the world of African politics. It influences several key policy arenas, including the focus of this paper: developmental policy. The AfCFTA hopes to integrate the intra-African trading system, as well as implement several measures to integrate their entire economies. This paper examines the intersection between the AfCFTA and developmental policy defining how it helps and hinders African development goals. This thesis intends to give a clear picture of how this agreement coincides with developmental policy through both economic and political research. The goal of this paper is to provide readers with a detailed report on how this economic agreement could be shaping the developmental policy of the African world.

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Created

Date Created
  • 2019-05

The organization and evolution of the Hohokam economy: agent-based modeling of exchange in the Phoenix Basin, Arizona, AD 200-1450

Description

The Hohokam of central Arizona left behind evidence of a culture markedly different from and more complex than the small communities of O'odham farmers first encountered by Europeans in the

The Hohokam of central Arizona left behind evidence of a culture markedly different from and more complex than the small communities of O'odham farmers first encountered by Europeans in the sixteenth and seventeenth centuries A.D. Archaeologists have worked for well over a century to document Hohokam culture history, but much about Pre-Columbian life in the Sonoran Desert remains poorly understood. In particular, the organization of the Hohokam economy in the Phoenix Basin has been an elusive and complicated subject, despite having been the focus of much previous research. This dissertation provides an assessment of several working hypotheses regarding the organization and evolution of the pottery distribution sector of the Hohokam economy. This was accomplished using an agent-based modeling methodology known as pattern-oriented modeling. The objective of the research was to first identify a variety of economic models that may explain patterns of artifact distribution in the archaeological record. Those models were abstract representations of the real-world system theoretically drawn from different sources, including microeconomics, mathematics (network/graph theory), and economic anthropology. Next, the effort was turned toward implementing those hypotheses as agent-based models, and finally assessing whether or not any of the models were consistent with Hohokam ceramic datasets. The project's pattern-oriented modeling methodology led to the discard of several hypotheses, narrowing the range of plausible models of the organization of the Hohokam economy. The results suggest that for much of the Hohokam sequence a market-based system, perhaps structured around workshop procurement and shopkeeper merchandise, provided the means of distributing pottery from specialist producers to widely distributed consumers. Perhaps unsurprisingly, the results of this project are broadly consistent with earlier researchers' interpretations that the structure of the Hohokam economy evolved through time, growing more complex throughout the Preclassic, and undergoing a major reorganization resulting in a less complicated system at the transition to the Classic Period.

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Created

Date Created
  • 2013

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Fair trade and development: a historical analysis of alternative trade

Description

Despite a wealth of academic literature critiquing current tensions within the Fair Trade (FT) movement, very little work has focused on examining the birth and evolution of the FT movement

Despite a wealth of academic literature critiquing current tensions within the Fair Trade (FT) movement, very little work has focused on examining the birth and evolution of the FT movement within the broader context of the international political economy (IPE), specifically in reference to the ideological and policy changes that ushered in an era of free trade and deregulated markets for both trade and finance. From such an optic, it is no longer enough to merely question the extent to which the market should be engaged. Rather, one must question whether the engagement of the market strips the movement of its power to affect long term development in local economies. Drawing upon the historical record, this thesis focuses attention on the complexity of the linkages that exist between political ideology, trade policy, and development. While Fair Trade is commonly understood to be a responsive effort to create more equitable trade relations with producers in the least developed countries, less emphasis is placed on understanding the state-centered political structures that contributed to a capitalist push-back and the implementation of today's liberalized trade policy, and yet to do so is absolutely critical if we are to gain a deeper understanding of the limits and constraints of Fair Trade. Full engagement with mainstream markets has led to robust growth in the FT market per annum, yet countries that are heavily engaged with the FT market show little evidence of development or poverty reduction at a macro-level. Thus, Fair Trade must define itself as more than principled opposition to labor exploitation if it is to present itself as a credible instrument of economic development.

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Created

Date Created
  • 2011