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NAFTA: Does Trade Equal Prosperity?, 2008.
An argument that the North American Free Trade Agreement (NAFTA) has failed to improve the standards of living for North American citizens.
1,550 words (approx. 6.2 pages), 3 sources, MLA, $ 50.95
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Abstract
The paper contends that the 'benefit' of increased trade has failed to usher in a new era of prosperity, of higher incomes, more jobs and better standards of living for all North American citizens. The paper asserts that the assumption that NAFTA would naturally benefit the economy, merely through the activity of an unimpeded and less-restricted market, was ultimately naive. The paper shows how although NAFTA has delivered an increase in trade, wages have not increased, social programs have been cut, working conditions have become worse and employment rates have risen.
From the Paper
"Much has been said about the positive effects of the North American Free Trade Agreement for all of the countries involved, during the time since its original inception. The benefits to trade have been especially lauded, as have other, perhaps originally unintended effects, such as the increased security of borders between the North American partner countries in a time of concern about terrorism. The agreement has also had its critics, however, in Canada, the U.S. and Mexico--critics who argue that the perceived benefits of NAFTA are far outweighed by its costs. Interestingly, critics in each of the countries involved find arguments to reason that their own country has suffered losses due to NAFTA, when one might expect that the less economically and politically powerful countries, Mexico and, to a lesser extent, Canada, would have suffered all of the negative consequences, while the USA would certainly have seen the benefits. This does not seem to be the case, and it is for this reason that it is not possible to portion out the costs and benefits of NAFTA in an absolute way. "
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Link between the Canadian and American Economies, 2008.
A discussion of the link between the Canadian and American economies, specifically with regard to the US current account deficit.
813 words (approx. 3.3 pages), 2 sources, MLA, $ 28.95
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Abstract
This paper discusses the spread of the global economy and the greater dependence that the Canadian economy now has on the United States economy. It discusses the foreign investment markets for Canada and looks at the view of the United States with regards to it current account deficit. Finally the paper lists some of the actions that the United States can take for which Canada must be prepared.
From the Paper
"While many analysts predict a fairly painless global adjustment once the US current account seeks a more equitable balance, the increasing uncertainty in the market seems to betray a growing fear of a sudden and profound systemic shock. Researchers point out that the US is currently the greatest investment vehicle for most of the world's leading economies with its current account deficit standing at -22% of GDP (The 1). Yet, framing the current account in this manner does not accurately represent the true disparity in the US economy as opposed to those of its foreign counterparts such as Canada. The US basically considers deficits normal between most of its trading partners and this is definitely the case with Canada. However, this gap is even more severe when examined in relation to specific countries such as China that have created an export economy through the financing US spending: "The United States runs a current account deficit of more than $600 billion per year...foreign central banks...have made substantial purchases of U.S. government bonds to add to their foreign exchange reserves" (Clarida par.3)."
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Three Financial Econometrics Articles, 2008.
Reviews three related financial econometrics articles.
1,335 words (approx. 5.3 pages), 3 sources, MLA, $ 44.95
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Abstract
This paper reviews three articles that discuss some form of financial risk modeling methodology. The articles discussed are "Model-Based Stress Test: Linking Stress Tests to VaR for Market Risk" by Carol Alexander and Elizabeth Sheedy, "Risk and Probability Measures" by Phelem Boyle, and "Realized Volatility and Correlation" by Anderson, Torben, et al.
Table of Contents:
Abstract
Article Reviews
Alexander, Carol and Elizabeth Sheedy. "Model-Based Stress Test: Linking Stress Tests to VaR for Market Risk".
Boyle, Phelim. "Risk and Probability Measures."
Anderson, Torben, et al. "Realized Volatility and Correlation."
From the Paper
"Volatility is the focus of all risk modeling in financial analysis because the greater the volatility the greater the risk of the investment or a portfolio exhibiting a high degree of volatility. Anderson et al, in "Realized Volatility and Correlation" describe how volatility has come to dominate risk modeling literature and that this literature has increasingly focused on "higher-frequency data". Thus begins these researchers' quest to attempt to match actual volatility levels with more accurate forecasting techniques."
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State-Led Development vs. Foreign Investment, 2008.
Examines if Third World states should pursue economic development through state-led development or through foreign investments as in the cases of Malaysia and Uganda.
2,490 words (approx. 10.0 pages), 11 sources, MLA, $ 75.95
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Abstract
This paper argues that Third World states should pursue state-led economic development over development achieved through foreign investment. The paper states that Third World states that are indebted to other states and organizations will be susceptible to conditional loans and to the withholding of needed aid. The paper relates that countries that insist upon state-led development instead of upon foreign aid/investment are in a better-position to maintain appropriate working standards for domestic workers and to distribute resources to indigenous sectors that will spark economic growth and diversification. The paper then compares Malaysia, a country that tries to avoid reliance upon foreign investment to Uganda, a nation that is heavily dependent upon foreign investment. The paper concludes that Malaysia's approach works better.
From the Paper
"Supporters of foreign investment as a tool for national economic development may be in the minority, but they keep returning to the fact that struggling countries in need of funds have little recourse but to turn to international lending bodies for assistance. They point to the fact that the IMF sanctioned a much-needed three-year, low-interest Enhanced Structural Adjustment Facility worth nearly $180 million in Special Drawing Rights for Uganda. The World Bank, in the period 1989-90, also approved additional supplements totaling nearly $300 million."
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The Global Food Market, 2008.
This paper explores the issue of excess foods on the market by discussing the world food trade, dumping and biofuels.
1,348 words (approx. 5.4 pages), 5 sources, MLA, $ 45.95
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Abstract
This paper examines the problems that arise with the inexpensive foods that flood the market. The paper first explains how the global food trade can have a negative effect on the agriculture in developing countries. The paper then discusses the possibility of using crops for biofuels and examines the benefits and drawbacks of this solution. The paper concludes by stating that just continuing with the situation as usual is not an option.
From the Paper
"The concept of food trade seems such a simple one on its face. All people must eat in order to survive. If people have a surplus of food, it is better than if they have only a subsistence level of food or an insufficient quantity of food, no matter where that food comes from or what type of food is being produced. Inexpensive food is always better; lower prices mean more people spend less on food and quality of life improves all around. Global trade is better for the food trade because it keeps food prices lower. Finally, more land has to be dedicated to food production. All of these things seem simple and true on their faces, but how reliable are these statements?"
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Economic Realities and Human Freedom, 2008.
An analysis of the philosophies of J.S. Mill, Jean-Jacques Rousseau and Karl Marx with relation to economic realities and human freedom.
2,139 words (approx. 8.6 pages), 3 sources, MLA, $ 66.95
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Abstract
This paper discusses the philosophies of J.S. Mill, Jean-Jacques Rousseau and Karl Marx. It argues that these philosophers' notions of human freedom are intimately entwined with their respective attempts to address and rectify the increasingly intolerable economic order of the day. More specifically, the paper maintains that Mill's notion of human freedom actually works to preserve the status quo, while Rousseau's and Marx's do not shy away from calling for a complete and systematic overthrow.
From the Paper
"The same can be said of Marx's understanding of nationalism. In The Communist Manifesto, that thrilling duel between bourgeoisie and proletariat, he famously writes that, "The Communists are further reproached with desiring to abolish countries and nationality. The working men have no country. We cannot take from them what they have not got" (Marx and Engels 174). According to Marx, nations and nationalism, like religion, are illusions, as the working poor are barred from participating in the political life of the nations that work to ensure their miserable living standards. Here, Marx erred badly. His instance on the irrelevancy of national differences is, obviously, one of the necessary preconditions for socialist revolution, but the history of the past century emphatically highlighted the link between the poor and nationalism. Poor people are, in fact, far more willing to don uniforms and sacrifice their lives in war than are the sons and daughters of the wealthy, and a casual glance at the disproportionately high representation of this nation's poor in the armed forces attests to the power of nationalism. And yet, Marx would likely argue that illusions, powerful as they may be, are still illusions. Accordingly, much of his work aims to unveil systems of thought that hinder human freedom."
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Free Trade and World Hunger, 2008.
This paper discusses why free trade, as it is presently constituted, does not diminish world hunger.
1,447 words (approx. 5.8 pages), 4 sources, MLA, $ 48.95
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Abstract
The writer of this article, notes that as trade barriers come down and as the world grows more inter-connected and inter-dependent, it is tempting to suggest that free trade is the antidote to world hunger. This paper explores how free trade globalization has compelled some areas of the globe to specialize or concentrate in the harvesting/cultivation of foodstuffs that are anticipated to sell well in foreign (western) markets or have done so in the past. The writer argues that free trade has not, and will not, as it stands right now, reduce global hunger inasmuch as those markets that have sufficient wealth to "fatten" the bottom lines of agricultural corporations will continue to be catered to, while the economic and health-related needs of the global poor will be cast aside in the quest for profits. The writer concludes that unregulated free markets that do not demand a social conscience on the part of producers or corporations do nothing to alleviate world hunger.
From the Paper
"One other thing that happens is that free trade as it is presently constituted advantages the wealthy populations of the world while disadvantaging the poor peoples of the globe. This occurs because, as we in a free market global economy relentlessly define food productivity by production per unit of labor, any technological or business "advance" that can be implemented in a developing part of the world with the end goal of boosting food production - or at least foodstuff production when it comes to a desirable commodity - is coveted to the exclusion of all other concerns, such as fears of environmental displacement and social/labor dislocation. Suffice it to say, new adaptations may include the aforementioned introduction of new pesticides as well as new forms of bio-engineering; not to be overlooked, food producers may look at the re-deployment of the infrastructural or manufacturing resources of a region in ways that facilitate the production of one or a few types of "in-demand" foodstuffs as opposed to deployments that facilitate the production of many different types of foodstuffs. These so-called "innovations" frequently do little more than result in over-specialization, resource exhaustion, and in a loss of jobs for those who are not involved in the cultivation of in-demand goods."
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The Industrial Revolution, 2008.
Looks at the impact of the Industrial Revolution.
1,455 words (approx. 5.8 pages), 3 sources, MLA, $ 48.95
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Abstract
This paper explains that the industrial revolution affected the entire world and that the enormity of its impact involves technological, cultural, economic and political changes. The paper then uses symbolic interactionism to study these phenomena, which was comprised of three revolutions. The paper stresses that the key to the industrial revolution was energy, which was essential for all machines. The paper concludes that the impact of the industrial revolution is very similar to the force society currently is experiencing, which is called globalization.
From the Paper
'As a result of the industrial revolution, the costs of food production were substantially reduced. Crop yields initially were increased through the development of farm machinery and then later through the introduction of various chemicals. The industrial revolution introduced a tremendous diversity of choices in terms of products and services. Service industries grew up, among which were the oil companies. Delivery of food and other goods was then facilitated through the construction of highways specially designed for the rapid transport of materials.'
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China, Canada and Petroleum, 2008.
This paper explores China's investment in Canada's petroleum industry.
2,283 words (approx. 9.1 pages), 13 sources, MLA, $ 70.95
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Abstract
The paper discusses China's interest in investing in the extraction of oil products from Canada's tar sands. The paper also looks at China's energy needs and how their needs affect the Canadian energy industry. The paper then shows how Canada's petroleum exports are a windfall of unexpected revenues. The paper points out, however, that the price for Canada is a partial sacrifice of industry and perhaps even national sovereignty to China's foreign ownership and investment.
Outline:
Summary Proposal
China's Energy Needs
Canadian Energy Industry
The Economics of China's Investment
Canadian Economic Aspects
Conclusion
From the Paper
"Canada is stated to own some of the second largest oil reserves in the world after Saudi Arabia. These are the tar sands in Western Canada which have been receiving much international interest as well as local interest (Unlocking). Yet, the extent of these oil fields are almost completely limited to vast oil sand fields in Alberta Province of Western Canada ("Canada"). Because of the extremely difficult and expensive nature of recovering and refining these types of oil supplies, Canada, and by extension, the Canadian economy has not benefited greatly from the existence of these oil reserves in the past. This situation has changed over the past several years with the increase in oil prices and the destabilization of the petroleum industry in general which has led to much interest from foreign entities interested in investing in the extraction of oil products from these tar sands with China or Chinese entities being one of the major interested parties."
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The EU and the European Central Bank, 2008.
This paper examines the implications of the Euro in respect to monetary policy in Europe.
2,027 words (approx. 8.1 pages), 16 sources, APA, $ 64.95
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Abstract
The paper discusses the EU's success at integrating monetary policy through the European Central Bank (ECB) as well as economically within the context of a single currency. The paper explains how the Euro has been not only functional, but effective at stabilizing macroeconomic forces within the EU and enabling the EU to approach the international community as a unified force. The paper also looks at the impediments to further economic and political integration of the EU model and concludes that the EU has performed fairly well in an often fractious environment.
Outline:
Overview
The EU and the European Central Bank
EU Monetary Policy
Exchange Rates
Conclusion
From the Paper
"The European Union (EU) has, since its inception, fostered much debate regarding its ultimate success at integrating monetary policy through the European Central Bank (ECB) as well as economically within the context of a single currency. Yet, despite all the debate, the EU finds itself not only functioning but expanding: "European Union enlarges from 15 to 25 members and tries to write itself a first-ever European constitution" (Dale, 2003, para.2). The EU as a political and economic model has its conception in the Maastricht Treaty of 1992 when a union of European states was formalized into the EU; however, the idea of a unified Europe has its roots in the period following World War II when a cohesive European Community was sought to aid in recovery (Harrop, 1998)."
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Nation States Vs. Transnational Corporations, 2008.
This paper explores whether the nation state is still the most powerful actor in global politics.
2,985 words (approx. 11.9 pages), 13 sources, MLA, $ 88.95
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Abstract
The paper argues that some nation states are still the most powerful actors in global politics, although the prodigious growth of transnational corporations (TNCs) are eroding the power and sovereignty of many of the less developed nation states. The paper utilizes the USA as an example of a state that remains a powerful actor. The paper concludes, however, that given the powerful economic forces that seem to be moulding current events, it is possible that this will not last forever.
From the Paper
"The question of who holds the power in global politics is clearly of pressing interest and concern, as it is the holders of power who will decide the future of our planet. For example, to take the most obvious and pressing current problem: who will decide what our actions should be on global warming? Will it be democratically elected governments of nation states, who have a mandate to protect the best interests of all their citizens? Or will it be TNCs, which have only one mandate - that is, to make as much money as possible? If it is the latter, then our world is in serious trouble, because the best interests of profiteering and the best interests of our planet's ecology are directly at odds with one another. One cannot prosper without the other suffering, and vice versa - at least, not with our existing technologies (Ellwood)."
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Influences on the Duration Character of US Imports, 2008.
An analysis of factors that influence the ways that imports impact the US economy.
1,977 words (approx. 7.9 pages), 14 sources, MLA, $ 62.95
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Abstract
This paper examines several key aspects in which imports affect the US economy in not so apparent, but nonetheless influential ways. It discusses trade theory, the comparative advantage and particularly aggregate goods theories. It then looks at the influence of geography related to trade and specifically the corporate strategies of outsourcing and off-shoring which has led directly to an increase in imports. Finally, the paper discusses the role of immigration and its impact on imports in the US.
Table of Contents:
Introduction
Products and Services-Comparative Advantage
Regional Location
Immigration Aspects
From the Paper
"If one were to factor in the increase in the number of foreign immigrants and the factors that are weighted positively in terms of determining qualification for entry, such as Master's Degrees, PhDs as well overall length of time within a certain career field, it is clear that education and job skills are going to concentrated among this immigrant population ("Selection"). These immigrants tend to maintain the professional and social relationships they had in their countries of origin. By maintaining these professional relationships and social contacts immigrants into the US actually come to facilitate expanded trade activity as they recognize opportunity or are actually tasked with sourcing products or services in their home markets by their employers (Rauch 1180-83). Thus, immigration into the US also tends to facilitate expanded trade in the form of imports and, to a lesser degree, exports."
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Market Valuation Models, 2008.
This paper discusses the capital asset pricing model (CAPM) and the arbitrage pricing theory (APT).
1,095 words (approx. 4.4 pages), 5 sources, MLA, $ 38.95
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Abstract
This paper explains that the capital asset pricing model (CAPM) and the arbitrage pricing theory (APT) both depend on the identification and quantification of risk vis-a-vis a given financial device or product and thereby a financial product's volatility. The author points out that the primary assumption of the CAPM is that there exists a relationship between risk and the expected rate of return (ERR) and this relationship is then factored into the pricing structure of financial securities. The paper relates that APT is a model that relies on the integration of several factors at once rather than bundling all factors into a single beta. The paper concludes that the APT is the model of preference because the APT is the only valuation model, which can account for the full spectrum of market and asset-specific factors that can affect price and risk determination within the context of the global economy.
Table of Contents:
Overview
The Capital Asset Pricing Model
The Arbitrage Pricing Theory
From the Paper
"There are several weaknesses with the CAPM, which has limited its effectiveness in the financial services industry. The most prominent of these weaknesses is that it is primarily a single-factor risk assessment method which relies on a single covariance to the overall financial market the security is traded in. This single covariance is the CAPM's beta which is effective in ideal market conditions but when extra-market factors affect change in the market or to the industry in which the security functions, this single-factor aspect becomes less accurate because it cannot accommodate such variance."
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Fast Track Trade Legislation, 2008.
This paper discusses fast track trade legislation and its relationship to other foreign trade issues.
1,535 words (approx. 6.1 pages), 4 sources, APA, $ 50.95
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Abstract
This paper explains that fast track trade legislation in the US is the process by which the President can introduce legislation to Congress involving trade agreements with foreign countries. The author points out that this type of legislation is unique in that there is a time limit on any debate and that the legislation must either be passed without modification or rejected altogether. The paper relates that the justification for fast track legislation is that it expedites trade negotiations with other countries but still allows congressional oversight. The author presents the issues of globalization, natural resource depletion, labor organizations and poverty in relationship to fast track free trade legislation.
From the Paper
"Labor organizations oppose free trade because it can mean a loss of jobs in certain sectors of the U.S. economy. The increase in globalization has also given rise to a large number of U.S. firms relocating production processes to other countries to benefit from cheaper labor costs. Labor intensive industries such as manufacturing and textiles have almost entirely left the United States. While American consumers as a whole benefit from lower prices for these goods when they are imported back to the United States workers who have lost their jobs may have a hard time finding new employment."
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Analysis of Microeconomics, 2008.
An overview of the US economy through the analysis of microeconomics.
2,636 words (approx. 10.5 pages), 11 sources, MLA, $ 79.95
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Abstract
This paper discusses different elements of microeconomics that contribute to the overall economy in the U.S. The author of the paper cites research that has been carried out on minimum wage issues and describes how the downturn of the housing market impacts on other sectors of the economy.
Outline:
Minimum Wages
Antitrust Laws
The Housing Industry & Employment
From the Paper
"Economic theory itself tends to undermine the argument that minimum wages are somehow beneficial. Economic theory states that if the price of unskilled labor increases then employers are just as certain to seek alternative labor sources that are less expensive (Wolfson & Belman). In practice, this theory plays out by managers who, when faced with increasing labor costs, refrain from hiring the 3 employees they might have hired were it not for the increased cost of labor and instead only hire two more skilled laborers but still at an overall savings. This point is made exceedingly clear in Solomon's article where she observes that: "At Petite Provence eatery in Portland, co-owner Didier Blanc says the minimum wage...has had an 'aftershock effect' forcing him to raise wages for all employees...the costs are passed on to customers"(par.13). Alternatively, these managers or companies may seek to invest in the automation necessary to ensure that the manual labor is no longer necessary or to off-shore the work entirely to less expensive markets. In that sense, elevating the federal minimum wage does in fact manifest a positive influence on productivity and output because industry is inclined to automate and become more efficient across the board which is good. However, while the minimum wage increase in Portland can be viewed as a positive argument for raising the federal minimum wage, it also indicates that the benefit to the low-wage workers most impacted will be short-lived:"
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Foreign Direct Investment (FDI) in China, 2008.
This paper discusses the role of government policy in attracting
foreign direct investment (FDI) in China.
2,860 words (approx. 11.4 pages), 21 sources, APA, $ 84.95
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Abstract
This paper explains that, with the advent of its reformist policies in the late 1970s, China opened what is potentially one of the world's large markets to foreign direct investment (FDI). The author points out that, initially, the government tried to draw that investment into areas that were familiar to emigres resulting in a spectacular influx of FDI. The paper reports that, in subsequent years, the government has attempted to redirect FDI to other areas, with much less success. The author points out that FDI is allocated through the decentralized, largely market-oriented mechanism, which supports the view that the Chinese central government has only a limited capacity to compel private groups and local governments to adhere to policies it believes are in the national interest The paper concludes that China has received a huge amount of FDI, which will have profound impacts on that country in the coming decades.
Table of Contents:
The Reform Period and Foreign Direct Investment
The Goals of Reform
China and FDI: The Initial Success
The Inability to Control Special Interests
The Lack of Social Embeddedness
Conclusion
From the Paper
"Indeed, the change was sufficiently sudden that in several instances, the ideological rationale for the change was not formulated until after markets were opened to foreign investment. The rationale for the new policy was reflected in several areas. In terms of economic development, the Chinese conceded that despite major gains, their economic condition was not improving at a rate comparable to that of other comparably situated countries. The new policies were advanced as allowing China to secure needed new sources of capital, advanced technology, advanced management skills."
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Latin America: A Financial Analysis, 2008.
This paper looks at the debts of Brazil, Argentina and Mexico and their potential financial recovery.
1,238 words (approx. 5.0 pages), 5 sources, APA, $ 42.95
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Abstract
The paper examines the economic policies of Brazil, Argentina and Mexico that led to their high level of debt. The paper then looks at the improvements these countries have made to create a more stable financial environment. The paper discusses how these countries are rich in cost competitive fuel supplies and are involved in the production of bio-fuels. The paper reveals that if these countries could supply enough of these fuels at a cost-effective level, their indebtedness would be an issue of the past.
Outline:
Financial Issues
Improvements
Outlook
Conclusion
From the Paper
"When discussing the countries of Brazil, Argentina, and Mexico it is difficult to think of them in similar context. In fact, a very different picture appears in one's mind with the verbalization of each of the previously mentioned countries (i.e. culture, sun, beaches). However, what should come to mind when discussing these countries is what several individuals share with these countries and that is debt. Argentina as well as Brazil were both competing for the title of "the biggest debtor in South America" in recent years (Davies 35). This was not a proud position to be in but Mexico was a close runner up."
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Modeling Strategies for Financial Hedging, 2008.
An examination of GARCH or generalized auto regressive conditional heteroskedasticity, which is a modeling technique that allows researchers to predict for financial variances.
962 words (approx. 3.8 pages), 7 sources, MLA, $ 34.95
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Abstract
The predominance of existing research related to hedging strategies relative to the futures markets is typically concerned with agricultural, foreign exchange (forex), and petroleum products. This paper attempts to offer some insight relative to the mathematical modeling techniques which financial hedging strategists employ in order to be successful at mitigating risk. The paper explains that modeling volatility within the financial markets has not received a great deal of academic attention. The paper then looks at how Siddique and Harvey, in "Auto regressive Conditional Skewness" undertook a study of auto regressive conditional skewness which utilized GARCH techniques wherein they concluded that auto regressive models might be successful at modeling time-series variations relative to asset pricing such as stock returns but not necessarily for futures and related hedging strategies. The paper shows that researchers successfully applied the GARCH model to daily returns volatility of two separate futures markets in commodities. The paper concludes that these researchers proved that every hedging entity can adapt these models to develop a functional model that can accurately incorporate intervention related to exchange rate fluctuations into a futures volatility model that works to effectively hedge each entity's particular needs and constraints.
Outline:
Abstract
Garch Modeling
Durban-Watson
Omega Function in Modelling
From the Paper
"Predicting, managing, and leveraging the uncertainty in futures market is however vital if a comprehensive market strategy is going to be developed that enables an entity to efficiently control, or at least manage, the cost-basis of its investments or operating expenses. GARCH techniques can be used to construct models that control, to some degree, conditional variances related to futures as well as spot market prices and allow better management of financial or commodities portfolios."
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