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The African Growth Opportunity Act (AGOA) has been a crucial trade and development initiative, offering preferential access to qualified Sub-Saharan African (SSA) countries to the United States market since its enactment in 2000. This paper presents a comprehensive review of scholarly articles and policy reports that analyze the impact of AGOA on the economic performance of SSA countries. Employing various econometric methods and data analysis techniques, researchers have investigated the effects of AGOA on trade flows, foreign direct investment (FDI) inflows, employment, economic growth, and poverty levels. The findings reveal that AGOA has positively affected the region's trade, particularly in apparel, textiles, and agriculture. However, its influence on promoting export diversification and attracting FDI is nuanced, with substantial heterogeneity among the beneficiary countries and industries within each country. While some SSA countries have experienced substantial export growth and FDI inflows, others have not fully leveraged the benefits of AGOA due to absorptive capacity constraints and governance challenges. AGOA's effectiveness in promoting broad-based employment, GDP growth, and poverty reduction remains an active area of inquiry, necessitating further research to understand the policy's sustained impact and inform future trade policy designs for SSA countries. [ABSTRACT FROM AUTHOR]

For urban policymaking, inequality in large U.S. metropolitan areas appears as a principal consequence of a trichotomy of motives over resources allocation, consisting of urban economic development, ecological sustainability and socioeconomic equity. In the case of global cities, a greater inequality appears to result, in part, from the propensity for urban economic-development motives to pursue and/or maintain worldwide centrality, connectivity and command over the dynamic forces of globalization. Such global-city development priorities are reflected in the endogenous urban content and institutional makeup distinguishing "global-city status," a characterization attributable to only a handful of places in the U.S. As a cross-sectional comparison of 53 large metropolitan areas (MSA), this paper examines the hypothesis that MSAs having a higher index value for "global-city status" exhibit comparatively greater socioeconomic inequality than MSAs with a lower index value. It produces statistical evidence supporting this thesis, with wide-ranging implications for globalization's imprint on metropolitan areas. [ABSTRACT FROM AUTHOR]

This paper makes use of interdependence theory to analyse the historical development of the economic relations between the GCC countries and the United States. The focus will be on oil and arms trade between the GCC countries and the United States. The results show that while the military and security dependence of the GCC countries on the United States remains relatively intact, the dependence of the United States on the natural resources of the GCC region has decreased. In light of this, the paper suggests that the historical interdependence between the GCC countries and the United States has recently evolved into a unilateral dependence and that the GCC countries' natural resources are directed towards Asian countries. [ABSTRACT FROM AUTHOR]

Regional economies are characterized by networks of interactions between individual elements and are thus quintessential complex systems. Analyzing the relatedness of various aspects of regional economies, such as exports, industries, occupations, and technologies, using methods from complexity science is becoming commonplace. However, current work has focused nearly exclusively on regional economic complexity of more urbanized regions within countries, if not entire countries themselves. Smaller urban areas are typically over-looked and rural regions are almost entirely absent from the dialog. This paper seeks to fill this gap by examining smaller urban areas and rural regions from a complexity economics perspective. Analyzing cross-sectional data provides initial insights into the transformation of regional economic connectedness from rural to urban regions. Using a previously developed metric of economic connectivity based the on co-occurrence of economic activities, called tightness, we examine the skills space and industry space of metropolitan, micropolitan, and rural regions in the United States. We find that the least and the most urbanized regions have the highest tightness, and that this is partially due to the share of specialty skills in a "socio-cognitive" lobe of skills space. However, we also find that the composition of skills in the least and most urbanized regions differs markedly. Findings suggest that planners seeking to increase the share of socio-cognitive skills in the local workforce may be constrained by population size, and that regions of moderate population size may be required to first grow industries that require less cognitive skills. Science Highlights • Regional economic tightness and regional economic output are positively correlated, even when controlling for regional population. • Skills tightness is greatest in the least populous and most populous regions while industry tightness is greatest in the most populous regions. • Higher skills tightness is driven partially by the share of socio-cognitive skills in the regional workforce. • The most rural and most urban counties have the highest share of specialty skills in the socio-cognitive lobe of skills space. Policy and Practice Recommendations • Both skills and industrial tightness should be fostered to increase regional per capita output. • Growing jobs that utilize socio-cognitive skills may increase skills tightness and thus regional productivity. • Moderately-urbanized areas typically have a lower share of workers with socio-cognitive skills, and may experience more difficulty growing knowledge-intensive industries. [ABSTRACT FROM AUTHOR]

The article presents abstracts of the papers presented at the 63rd annual meeting of the Association of American Geographers, Saint. Louis, Missouri. The meeting took place in April 1967. The paper "Defense and the Morphology of Certain Settlements in the Western Mediterranean," discusses economic growth. Another paper "Approach to a Generating Model for Climatic Statistics," discusses a set of probability models for generating climatic statistics. After a brief review of previous work on this subject, a model based on moving waves superimposed, on standing waves in the zonal winds is outlined.

Governments have a history of intervention in the market to aid small, minority, and women-owned businesses. This research explores women-owned business development programs across the United States. The paper begins with a discussion of programs to serve women-owned businesses, noting barriers that exist for women business owners to access markets and capital. Analysis considers program offerings and how they are communicated to the public and client businesses via government websites. Policy approaches may reinforce patterns of suppression, rather than opening maximum opportunities for women business owners. [ABSTRACT FROM AUTHOR]

Arts-based community development practices have received newfound prominence over the past decade under the auspices of "creative placemaking." In 2010, the National Endowment for the Arts (NEA) published a white paper titled "Creative Placemaking" and launched a new granting program focused on this practice called Our Town. Today, creative placemaking is burgeoning yet its precise definition remains fuzzy. This article uses content analysis to systematically analyze the 569 Our Town grants awarded by the NEA since the program's inception to inductively define creative placemaking based on the values embedded into project proposals, comparing these values with the NEA's stated Our Town goals. I find that creative placemaking, at least as funded in the U.S. through Our Town, can be defined as public or community-based art that includes values of place-specificity, collaboration, and participation, and which results in three forms of community development outcomes: economic development, bolstering social capital and participation, and improved cultural infrastructure. As creative placemaking evolves, equity is increasingly a concern, shifting focus toward the latter two outcomes as more measurable and desirable. [ABSTRACT FROM AUTHOR]

• Decoupling of GDP from all energy sources under multiple principles are examined. • World economy achieved weak energy decoupling in most years during 2000–2011. • World economy coupled with coal use and tended to couple with cleaner energy use. • None of studied economies achieved long-term GDP-embodied energy decoupling. • Decoupling delusions occurred when only considering direct and total energy use. Decoupling indicators are widely used to understand links between economic growth and energy use. However, traditional decoupling analyses mostly focus on domestic energy consumption (i.e., the production-based principle) and neglect off-site energy use across global supply chains to satisfy an economy's final consumption (i.e., the consumption-based principle). Moreover, analyses for total primary energy conceal an economy's preference for different energy sources. Therefore, this paper evaluates decoupling states of GDP from all types of primary energy use under consumption-based principle, for world economy and eight typical economies during 2000–2011. Regarding total primary energy, world economy witnessed weak decoupling in most years, and most economies studied (e.g., USA, Japan and China) achieved decoupling initially but performed negative decoupling finally. For EU, USA, Japan, Russia and India, production-based decoupling performances were generally better than consumption-based ones. Decoupling phenomena detected under production-based principle even became coupling or negative decoupling under consumption-based principle in some cases. As for each energy source, world economy decoupled from oil use, but still coupled with coal use, and gradually showed a trend to couple with natural gas and renewables use. Different energy sources showed distinct decoupling degrees from GDP, affected by individual embodied energy requirement structure. This paper uncovers potential energy decoupling delusions to deepen the understanding of relationships between energy use and economic growth. [ABSTRACT FROM AUTHOR]

As science becomes increasingly cross‐disciplinary and scientific models become increasingly cross‐coupled, standardized practices of model evaluation are more important than ever. For normally distributed data, mean squared error (MSE) is ideal as an objective measure of model performance, but it gives little insight into what aspects of model performance are "good" or "bad." This apparent weakness has led to a myriad of specialized error metrics, which are sometimes aggregated to form a composite score. Such scores are inherently subjective, however, and while their components may be interpretable, the composite itself is not. We contend that, a better approach to model benchmarking and interpretation is to decompose MSE into interpretable components. To demonstrate the versatility of this approach, we outline some fundamental types of decomposition and apply them to predictions at 1,021 streamgages across the conterminous United States from three streamflow models. Through this demonstration, we hope to show that each component in a decomposition represents a distinct concept, like "season" or "variability," and that simple decompositions can be combined to represent more complex concepts, like "seasonal variability," creating an expressive language through which to interrogate models and data. Plain Language Summary: Models are essential scientific tools for explaining and predicting phenomena ranging from weather and climate, to health outcomes, to economic development, to the origins of the universe, and testing competing models is one of the most basic scientific activites. Yet, how scientists evaluate and justify their models can be inconsistent or even arbitrary. Traditionally, one performance metric—such as mean squared error—is used to identify the best model, but one metric provides little insight into what aspects of a model are "good" or "bad." This paper proposes a basic language for expressing different aspects of a model's performance. On one hand, this is useful for determining which aspects of model may require revision, but it also allows the modeler to separate out the best elements among several models and combine them to form an ensemble, analogous to how an audio engineer mixes together multiple tracks to form the best rendition of a musical piece. Key Points: Mean squared error (MSE) is an objective but somewhat enigmatic measure of model performanceMSE can be decomposed into components that quantify specific aspects of model performance, such as bias and varianceMixing components among models yields a form of ensemble prediction [ABSTRACT FROM AUTHOR]

When a nuclear power plant closes, its host community often faces a number of negative economic impacts, such as the loss of skilled jobs and a major source of tax revenue. Even after decommissioning is completed, many former plant sites remain undeveloped, further inhibiting economic recovery. In this paper, we use data from seven decommissioned and decommissioning plants as well as estimates from industry professionals to calculate an approximate opportunity cost for each host community. This cost represents how much potential revenue has been lost while the plant site has remained undeveloped as compared to an alternate scenario in which it has been redeveloped into a solar power plant. Additionally, this paper discusses the presence of spent nuclear fuel and the challenges this presents for the redevelopment of former nuclear plant sites. This paper demonstrates the importance of efficient decommissioning and post-decommissioning redevelopment and examines solar power generation as one potential redevelopment pathway. [ABSTRACT FROM AUTHOR]

Natural resource dependence, although commonly invoked in natural resource sociology, has often been ambiguously defined. Communities are frequently described as dependent on natural resource development, but limited attention has been paid to what that means. In the literature, resource dependence is often treated as over‐specialization in, or over‐reliance upon, the natural resource sectors. However, the logic of over‐specialization conceptually grounds dependence in poor economic outcomes. Thus, a one‐dimensional typology of dependence based on a threshold of the share of development in the natural resource sector—as commonly used—does not fully capture the concept and risks tautology. In this paper, I address this ambiguity by formally defining natural resource dependence as over‐specialization in the natural resource sectors. I then present an ideal typology, known as the Natural Resource Community Typology, and a corresponding classification scheme for rural communities in the United States. The typology integrates both extractive and non‐extractive natural resource activity and has two dimensions—the level of development and the level of economic prosperity—and six mutually exclusive categories—extractive specialized, extractive dependent, non‐extractive specialized, non‐extractive dependent, hybrid specialized, and hybrid dependent. I classify counties from 2000 to 2015 and find that while extractive dependence decreased over the study period, non‐extractive dependence increased. [ABSTRACT FROM AUTHOR]

This paper examines if internal migrants at the turn of the twentieth century have influenced the long-term economic development of the counties where they settled over 100 years ago. Using Census microdata from 1880 and 1910, the distance travelled by American-born migrants between birthplace and county of residence is examined to assess its relevance for the economic development of US counties today. The settlement patterns of domestic migrants across the 48 continental states are then linked to current county-level development. Factors influencing both migration at the time and the level of development of the county today are controlled for. The results of the analysis underline the economic importance of internal migration. Counties that attracted American-born migrants more than 100 years ago are significantly richer today. Moreover, distance is crucial for the impact of internal migration on long-term economic development; the larger the distance travelled by domestic migrants, the greater the long-term economic impact on the receiving territories. [ABSTRACT FROM AUTHOR]

Heritage tourism has been growing over the last few years, especially in cities that have been declared World Heritage Sites. This paper presents research that investigates the motivations for tourists to visit Cuenca. Fieldwork was used to create a predictive model to determine visitor satisfaction considering the motivations and the attributes of the city. Furthermore, the paper analyses the attributes a heritage site should have if it is to create a sustainable tourist destination which combines culture and economic growth. The results show that although overall satisfaction with visits to the city is high, tourists enjoy other interesting aspects that should be taken into consideration in order to improve the city’s image as a cultural destination. [ABSTRACT FROM AUTHOR]

Entrepreneurship is often seen as the cure-all solution for poverty reduction. Proponents argue that it leads to job creation, higher incomes and lower poverty rates in the cities in which it occurs. Others argue that many entrepreneurs are actually creating low-productivity firms serving local markets. Yet, despite this debate, little research has considered the impact of entrepreneurship on poverty in cities. This paper addresses this gap using a panel of US cities for the period between 2005 and 2015. We hypothesize that the impact of entrepreneurship will depend on whether it is in tradeable sectors, so likely to have positive local multiplier effects, or non-tradeable sectors, which may saturate local markets. We find that entrepreneurship in tradeables reduces poverty and increases incomes for non-entrepreneurs, a result we confirm using an instrumental variable approach, taking the inheritance of entrepreneurial traits as the instruments. In contrast, while there are some economic benefits from non-tradeable entrepreneurship, we find these are not large enough to reduce poverty. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to explore the relationship between intellectual capital (IC) and performance of public universities in emerging countries in order to identify patterns and provide recommendations that may turn the universities’ IC into development opportunities, in terms of research, innovation, and education.Design/methodology/approach The analysis targeted the whole population of the public universities in the Republic of Colombia. A cluster analysis, based on five performance variables, has been conducted. Then, the IC of the universities pertaining to the three resulting clusters has been compared. Subsequently, for each performance variable, the IC of above-average and below-average universities has been benchmarked.Findings The results of this study show how different aspects of IC are associated with University performance. Among the many, the authors found that universities should achieve a critical mass to obtain outstanding research and innovation results. The findings also identify the particular importance of both students and scholars’ international mobility programs for most of the performance variables.Social implications This study provides a baseline for the assessment of the impact on society of the IC available in the universities of emerging countries. The application may serve as a guide in the choice of public policies, dedicated to the strengthening of the universities’ IC in order to improve their performance.Originality/value This paper proposes an innovative model to analyze the relationship between IC and university performance in emerging countries. The model identifies the association between the IC accrued in the universities and their capability of transferring it to the society under the form of science, innovation, and education. [ABSTRACT FROM AUTHOR]

Policymakers across the Southern U.S. have directed considerable attention to regional economic development plans, with mixed results. Questions remain over what types of industries, firms, and/or policies can drive long-range growth. Over the past two decades, researchers have started to focus on high-growth firms (HGFs) due to their potential innovation spillovers and job creation prospects, both of which drive further economic development. Employing databases from the Inc. 500, this study explores the dynamics of HGFs within Southern and comparative contexts. The first goal of this paper is to explore Southern HGF activity in comparison with the U.S. at-large. The second is to examine the geographical characteristics of HGFs within the South, which will include an exploration of locations, industrial mix, and the factors that could encourage HGF development and agglomeration. This paper will also analyze the longer-term ownership and acquisition patterns of HGFs across the South. Are such firms remaining embedded in the South or moving elsewhere through mergers or acquisitions? The paper concludes with a discussion of the impacts of HGFs on regional economic development and moreover, whether existing policies are conducive to these firms. [ABSTRACT FROM AUTHOR]

Between 1957 and 1990, nearly 100 nuclear reactors were constructed throughout the U.S., and nuclear power currently accounts for 20 percent of electricity production nationwide. Nuclear plants are often constructed in small communities for which they constitute a large source of employment and income. To date, 24 nuclear reactors have undergone decommissioning, and more are expected in the future, particularly as nuclear reactors age and face increasingly strict regulations. This paper examines the effects of nuclear decommissioning over time at the county-level on measures of employment, income, and population using difference-in-differences regression and propensity score matching. Panel data are obtained from the U.S. Census Bureau, and cover the years 1975-2014. The analysis finds that nuclear decommissioning is associated with positive and statistically significant increases in employment and per capita income over time. Results suggest that nuclear decommissioning may actually be a positive force in regional economic development, and concludes with limitations of the approach and implications for future research. As an emerging area of research, this paper is meant to build on previous work, as well as to provide a basis for further discussion and debate on the economic future of nuclear host communities and regional economies. [ABSTRACT FROM AUTHOR]

Dunne, Smith, and Willenbockel (2005) argue that the mainstream growth literature has not found military spending to be a significant determinant of economic growth, yet much of the defense economics literature has noted significant effects. This paper revisits this issue by using a DSGE-VAR approach, combining both theoretical and empirical methods. We present that the DSGE approach (estimated with the Bayesian technique) and the Bayesian VAR with the Minnesota Prior both lead to worse in-sample fit than our proposed DSGE-VAR framework. The DSGE-VAR approach reveals that a positive military spending shock boosts the U.S. economy, increasing per capita real GDP growth, consumption, inflation and interest rate. Our results are robust to alternative model specifications. Future investigations such as exploring an optimal military spending policy could adopt the approach in this paper to determine the best model -- empirical, theoretical, or a combination of the two. [ABSTRACT FROM AUTHOR]

In the 1960s, many cities across the United States began to experience a series of social and economic crises. Painful desegregation, massive riots, white flight, and the near bankruptcy of New York City were indications that urban centers, pillars of the American industrial juggernaut, were in serious trouble. The realization of this instigated massive government response and vigorous academic debate: how it was possible that in a little over three generations, while the overall American economy had grown, the major urban centers of the East and Midwest had fallen into such debt and decay?. This paper critiques some of the theories of 20th century urban dynamics by analysis of one major urban center, the city of Cincinnati. In particular, it asks whether urban planning policy, in response to the needs of a city in crisis, has been an effective tool in revitalizing the city. The efficacy of city redevelopment strategy has long been a seminal question for academics. The city of Cincinnati has entrusted its economic redevelopment future to entities such as the Cincinnati Center City Development Corporation (3CDC), a private nonprofit organization, which has overseen almost $1 billion in investment in Cincinnati's urban core. In the thirteen years since the creation of 3CDC, Cincinnati's inner city has changed dramatically in terms of higher property values, lower crime rates, and significant restoration of its historic structures. However, it is far from clear that redevelopment, as a model for urban revival, works to the overall benefit of the city, as reflected by traditional statistical measurements like population growth, median income, poverty rates, crime rates, and tax revenues. Therefore, this paper questions whether city policies encouraging gentrification are worthwhile given the costs and benefits. Understanding the dynamics of Cincinnati's decline from the point of view of urban theory helps provide a view of how much a city's policies affect its economic condition, and which policies it should pursue. [ABSTRACT FROM AUTHOR]

Foreign-trade zones (FTZs) are restricted-access sites where domestic and foreign goods are stored, manufactured, or assembled. Products foreign bound from an FTZ do not pay duties, tariffs, or ad valorem state taxes, yet are considered domestic goods. These zones are outside of US Customs and Borders Protection (CBP) jurisdiction and are considered foreign territory. FTZs are intended to promote economic development, provide a competitive advantage to US firms, and improve access to foreign markets for US manufacturing firms. However, while these zones can positively impact local economies, they may attract investment away from underserved regions, thereby exacerbating spatial inequality. This paper analyzes the spatial relationship between the number of FTZs, median household income, unemployment rates, income growth rates, and the number of manufacturing firms by county in the Southeastern United States. Results from this study find that counties with FTZs in the Southeast have significantly higher economic output than counties without access to FTZs. [ABSTRACT FROM AUTHOR]

Advocates argue that urban manufacturing holds potential to promote locally distinctive enterprises, quality employment and more socially-inclusive forms of urban development. However, little is known how urban policy actually supports manufacturing. This paper documents the policy response to urban manufacturing in the U.S. and Australia. We determine how policy documents conceptualise manufacturing and define goals and strategy around land use, business development and workforce development. The analysis demonstrates that manufacturing policy is situated between entrenched visions of deindustrialisation and emerging notions of a renewed, advanced manufacturing sector and that most cities struggle to address the inherent challenges of this condition. [ABSTRACT FROM AUTHOR]

Highlights • The internal relationship between decoupling theory and EKC hypothesis was studied. • A two-dimensional decoupling theory was established. • China and US were taken as a case to study. Abstract The current decoupling theory cannot distinguish the decoupling state of a region with different economic development level. To overcome this problem, this paper first studies the internal relationship between decoupling theory and EKC hypothesis. Furthermore, we establish a two-dimensional decoupling theory of economic development and CO 2 emissions. Finally, taking China and US as a case, this theory is used to explore the decoupling relationship between economic development and CO 2 emissions over the period 1965–2016. If the EKC curve satisfies the inverted U type characteristic, the critical point between strong decoupling and weak decoupling can be approximately obtained at the extreme point of EKC curve. Based on the Tapio decoupling theory and extreme point of EKC curve, the two-dimensional decoupling model with 16 kinds of decoupling sates is established. For China and the United States, the EKC curve of carbon emissions and per capita GDP satisfies the inverted U type characteristic. The threshold value of per capita GDP for China and the United States are $7999.5 and $50980.52, respectively. At present, China's economy is experiencing a low level of economic development. The development of the United States in 2014–2015 and 2015–2016 presented strong decoupling with high level of economic development. [ABSTRACT FROM AUTHOR]

This paper examines the influence of selected indicators of the banking sector (M3 monetary aggregates and bank loans provided to the non-financial private sector) on economic growth (GDP) in the Eurozone, the USA and Japan. Cointegration of these selected indicators of the banking sector has been demonstrated in relation to the development of GDP using the Engle - Granger cointegration test. These tests were applied to selected statistical data from the years 2000 to 2015. The first was to determine the optimum delay using Akaike criteria for all-time series analysed. Then the presence of a unit root was analysed using the Dickey - Fuller test. Based on the test results, time series were excluded which appear to be stationary. If the conditions were met, testing then continued with the Engle - Granger test to detect cointegration relations, which would determine a relationship between selected variables. Based on these tests, it was found that at a significance level of 0.05, no cointegration relationship exists between any of the time series in the countries surveyed. [ABSTRACT FROM AUTHOR]

As recovery from the Great Recession continues, economic development scholars and practitioners are again focused on the pace and the sustainability of recovery, as well as on efforts to minimise the severity of future downturns. This paper contributes to the literature by exploring the relationship between industry diversity and economic resilience over time. Using fixed effects models with data from the Bureau of Labour Statistics and the Census Bureau, the paper examines the influence of industrial diversity and concentration on unemployment rate stability in Ohio counties between 1977 and 2011. Results indicate that while more concentrated counties had lower unemployment rates when times were good, counties with more diverse industry structures fared better during times of national or local employment shocks. The paper also finds that there is a relationship between concentration in particular industries and the ability to withstand a shock changes over the 35 years examined, thus highlighting the need to take care when interpreting findings over shorter periods and the need to consider the particular industry of dependence. While local policymakers have little ability to affect industrial concentration in the short run, the paper recommends that highly concentrated counties adopt policies that may help buffer their economies to effects of negative shocks. [ABSTRACT FROM AUTHOR]

In the last year, a central issue in regional economic growth debate has been represented by the empirical analysis of Verdoorn's law related to the long-term dynamic relationship between the rate of growth in output and the productivity growth due to increasing returns. Several papers have tested Verdoorn's law on European countries as well as many other world economies. Recently, attempts have been made to provide foundations for a spatial version of the original law specification. The main contributions were dedicated to the inclusion of spatial dependence in the economic model. Surprisingly, in the literature on Verdoom's law the analysis of the spatial heterogeneity is not often considered. The aim of this paper is the regional analysis of the spatial dependence and heterogeneity in Verdoorn's law, identifying spatial regimes that can be interpreted as clusters of productivity growth in European regions at NUTS 2 level. To pursue this objective, an optimization algorithm for the identification of groups is used. This constitutes a modified version of Simulated Annealing. [ABSTRACT FROM AUTHOR]

Abstract This paper examines the transportation-growth nexus for the USA by taking monthly data for the period of 2000–2017. The Quantile-on-Quantile (QQ) approach introduced by Sim and Zhou (2015) is applied for empirical analysis. The empirical results show that the effect of economic growth (transportation services with sub-indices) on transportation services with sub-indices (economic growth) is positive for the USA during the pre-post crisis period. Overall, the results have shown the positive effect of transportation on economic growth, however the magnitude of the effect is intensified in the post crisis period. On the other hand, the effect of economic growth on transportation tends to reflect no apparent change displaying the strong positive association in the entire time period. Therefore, this study proposed the policy guidelines considering the links between transportation and economic growth enduring the changes transpired in pre and post period of the global crisis. [ABSTRACT FROM AUTHOR]

Highlights • We use dynamic panel regression analysis for 70 countries from 1965–2009. • We find that patent rights have no effect on productivity growth. • We offer an alternative explanation, finding the ECI positive and significant. • Our results lend evidence that patent rights are insufficient for the inducement of productivity. • We argue it is not discovery that increases productivity, but the ability to adapt. Abstract Does the rigorous protection of patents advance or retard economic development? Two decades ago, a new global standard of intellectual property swept across developing and industrialized nations through the implementation of the WTO's TRIPS Agreement. Many years later, the issue of patent rights remains contentious. In this paper, we focus on the effects of patent rights systems on total factor productivity growth, using dynamic panel regression analysis for 70 countries from 1965 to 2009. We show that the effects of stronger or more rigorous patent systems are insignificant for productivity growth in both developing and industrialized countries. Why does the strength of patents appear to have no impact on productivity? Classic economic theory suggests that stronger patent systems incentive innovative output with important spill-over effects for productivity and growth. We offer an alternative explanation using data from the Economic Complexity Index. We find that while patents rights are increasingly irrelevant to productivity, the relationship between economic complexity and productivity is highly positive and significant. Our results are consistent with the contributions of the absorptive capacity theory in that they suggest it is not the discovery and ownership of novel products and processes at the innovative frontier that induces productive growth, but the ability to adapt, replicate and diffuse along the international productive chain. [ABSTRACT FROM AUTHOR]

The concept of infrastructural power is arguably one of the most useful in the social sciences. It has helped both to illuminate the extraordinary capacity, reach, and impact of the modern state vis-à-vis its pre-industrial predecessor, and to cast light on why some modern states appear more able than others to execute their decisions and pursue their ambitions. Although sometimes mischaracterized as a 'weak' state, the capacity of the state centered on Washington to penetrate social space and implement its decisions, both at home and abroad, has long been recognized. But under what conditions might its infrastructural power diminish? Arguably, US economic power is now stronger than ever, ostensibly bolstered by being home to the world's most globalized and most profitable companies. However, while globalized production has strengthened US corporations - especially those rich in intellectual property - its contradictory consequences for the state's infrastructural power deserve close examination. This paper takes a first step in that direction by appraising the extent to which the state's domestic capacities have been weakened by Washington's internationalization of intellectual property rights. It also offers a reconceptualization of US power. [ABSTRACT FROM AUTHOR]

The Environmental Kuznets Curve Hypothesis (EKC) which argues that an inverted U-shaped relationship exists between economic growth and environmental degradation has been examined by numerous studies for different countries or country groups. However, the validity of the EKC hypothesis at the sectoral level is mostly ignored. In addition, most of these studies have modeled the nexus between per capita income and CO 2 emissions based on the assumption of non-linearity. Unlike previous studies, the main purpose of this paper is to investigate the validity of EKC hypothesis for sub-elements of carbon dioxide emissions (i.e. total CO 2 emission, commercial CO 2 emission, electrical CO 2 emission, industrial CO 2 emission, residential CO 2 emission and transportation CO 2 emission) in the United States for the annual data of 1973–2015. In doing so, the rolling window estimation procedure is employed to observe the effect of per capita income on sectoral CO 2 emission for each sub-sample period instead of the non-linear assumption. The results of the rolling window coefficients show that inverted U-shaped EKC hypothesis is valid for total CO 2 emission, industrial CO 2 emission, electrical CO 2 emission and residential CO 2 emission. However, the inverted U-shaped relationship between economic growth and CO 2 emission is not supported for commercial and transport sector of the US. [ABSTRACT FROM AUTHOR]

This paper outlines the emergence of a New Washington Consensus associated with leading philanthropies of the new millennium. This emergent development paradigm by no means represents a historic break with the market rationalities of neoliberalism, nor does it represent a radical departure from older models of early 20th century philanthropy. Rather, it is new in its global ambition to foster resilient market subjects for a globalized world; and new in its employment of micro-market transformations to compensate for macro-market failures. Focusing on reforms pioneered by the new philanthropic partnerships in education and global health, the paper indicates how the targets of intervention are identified as communities that have been failed by both governments and markets. The resulting interventions are commonly justified in terms of 'return on investment'. But the problems they target keep returning because the underlying causes of failure are left unaddressed. [ABSTRACT FROM AUTHOR]

With the Occupy movement that recently took place on Wall Street and in other parts of the globe, a lot of attention has recently been given to growing income inequality. The 2008 United States financial crisis, the Great Recession, and the subsequent weak recovery have brought about a more serious focus on income inequality and the widening income gap between the top 1 percent and other groups. These events have brought about some social unrest and instability in American society perhaps not seen since the Great Depression. How much has the top 1 percent of households gained in terms of income versus the other 99 percent in the United States over the last 30 years or so? Mainstream economists and other social scientists point to various causes which have been mentioned in many scholarly and popular writings. All of these mainstream factors affecting inequality have been found to be statistically significant in one scholarly study or another. This research paper explores other major concepts to explain income inequality rather than to dispute the findings of other existing research efforts. The empirical findings of this paper support radical arguments that income accumulation of those at the top is not connected to the productivity of capital investment, but rather instead is connected to the declining incomes and exploitation of the rest of the U.S. population despite the rising output per worker of the U.S. workforce over the last 30 to 40 years. [ABSTRACT FROM AUTHOR]

Market transaction data are used to estimate the quantity of specie in circulation. This estimate is used to provide the first comprehensive measure of a colony''s money supply and, along with data on population and prices, to retest the quantity theory of money and measure output growth using the equation of exchange. Output growth is found to depend on periodization and the extent that rising commercialization increased the velocity of circulation. Specie was becoming relatively less scarce as the Revolution approached, and movements in specie and paper currency both offset and reinforced each other depending on the period of analysis. (JEL N11, N21, E42, E51) [Copyright &y& Elsevier]