... New Sources for Development Finance edited by A B Atkinson, Nuffield College, OXFORD Contents Chapter 1 Innovative Sources for Development Finance by A B Atkinson Over-Arching Issues By A B Atkinson Global Public Economics by J A Mirrlees National Taxation, Fiscal Federalism and Global Taxation by R Boadway* Environmental Taxation and Revenue for Development by A Sandmo* Revenue Potential of the Tobin Tax for Development Finance: A Critical Appraisal by M Nissanke* A Development-Focused Allocation of the Special Drawing Rights by E Aryeetey* The International Finance Facility Proposal by G Mavrotas* Private Donations for International Development by J Micklewright and A Wright* A Global Lottery and a Global Premium Bond by T Addison and A Chowdhury* Remittances by Emigrants: Issues and Evidence by A Solimano* The Way Forward by A B Atkinson Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12 * These chapters are available on the WIDER website. Chapter 1 Innovative Sources for Development Finance 1 A B Atkinson, Nuffield College, Oxford Introduction 1 Innovative Sources to Meet a Global Challenge 2 New Development Finance: Innovative Sources 3 Origins of the Proposals 4 Political Economy 5 Criteria for Evaluation 6 Guide to the Contents of the Book Box 1 The Millennium Development Goals Box 2 Innovative Sources of Development Funding Considered Here Introduction Two powerful and divergent forces grip...
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...Lottery has been around for too long and people don't realize how unfair, addicting and effective the game of lottery is. It is a massively popular game with the most widespread form of gambling in the whole world , But it is an excessively bad bet. We do not see the true colors in unfairness of Lottery, It attracts the poor a lot more than the people who are mid-high class. As the Wolf company insists “Instead of taking those most able to pay, state leaders use lotteries to disguise a regressive tax that falls on the middle and even more on the poor”(Wolff).The reason why most poor people do play the lottery the most is that it brings the a mix of it hopes and dreams with desperation. poor people think it as a chance to improve their life...
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...The Economic Impacts of Running a Casino Jin Zhang V00772600 Mar 3, 2013 Abstract Over the past years casino has increase the impact on society, it seems that has been providing benefits to society, but is also brings much more negative effects. Casino decreases the income of local business. As many people know gambling is a bad habit just like drug use that can increase crime rate. No one can afford the harm that affects us. The use of casino can be very dangerous to the society and harmful to the economics if we are more aware of it, being caution about the negative effects of casino can increase the quality of social cost. Keywords: social cost, local business, crime rate The casino industry is a popular entertainment field in recent years, it is becoming worldwide. It has become a tourist attraction to many places, and has a great impact in our society. Casinos can be used for money sources, job opportunities, charities, and community growth, but we must not look only at the surface of things. (Tourism Management 2010, para.4) Research shows that casino bans will make society better off, casino industries in countries leads me to argue that casino is a local business killer, casino increase crime rate, and casino became the breakdown of social order. In “Residents’ perception of casino impacts: A comparative study,” Lee, Kang, Long, and Reisinger (2010). Casinos are local business killers...
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...Review of Beijing’s Vehicle Lottery Short-Term Effects on Vehicle Growth, Congestion, and Fuel Consumption J un Y an g, Yi ng Li u, Pi ng Q i n, an d An tu ng A. Li u Environment for Development Centers Central America Research Program in Economics and Environment for Development in Central America Tropical Agricultural Research and Higher Education Center (CATIE) Email: centralamerica@efdinitiative.org Chile Research Nucleus on Environmental and Natural Resource Economics (NENRE) Universidad de Concepción Email: chile@efdinitiative.org China Environmental Economics Program in China (EEPC) Peking University Email: china@efdinitiative.org Ethiopia Environmental Economics Policy Forum for Ethiopia (EEPFE) Ethiopian Development Research Institute (EDRI/AAU) Email: ethiopia@efdinitiative.org Kenya Environment for Development Kenya University of Nairobi with Kenya Institute for Public Policy Research and Analysis (KIPPRA) Email: kenya@efdinitiative.org South Africa Environmental Economics Policy Research Unit (EPRU) University of Cape Town Email: southafrica@efdinitiative.org Tanzania Environment for Development Tanzania University of Dar es Salaam Email: tanzania@efdinitiative.org Sweden Environmental Economics Unit University of Gothenburg Email: info@efdinitiative.org USA (Washington, DC) Resources for the Future (RFF) Email: usa@efdintiative.org The Environment for Development (EfD) initiative is an environmental economics program focused on international...
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...newer & higher peaks. He constantly challenged us to strive for excellence & in doing so, enabled us to perform to the best of our abilities. INTRODUCTION Gambling is one of the oldest industries in the world. According to the UK Gambling Act 2005, betting or gambling means ‘the making or accepting of a bet on the outcome of a race, competition or other event or process; the likelihood of anything occurring or not occurring; or whether anything is or is not.’ It is regarded by some as a vice and sinful activity which corrupts the society. Others view gambling as a harmless form of entertainment (I, personally, believe in the latter notion). Some also look at it in economic terms. Legalized casino gambling, be it in Las Vegas, London and/or Macau rose out of the desire for economic stimulus. Overall, society has taken a cautious view of gambling. Only limited types of games are legalized. The reason for gambling being heavily regulated (and rightly so) arises from the concern of criminal involvement. Because of the huge amount of cash involved, gambling is an attractive bait for criminals. The regulation of gambling is unusual because unlike any other industry, society regulates the gambling industry like no other business. Regardless of viewpoint, there is little doubt that gambling (which includes betting) is a very...
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...BACKGROUND BRIEF: JAMAICAN LOTTERY SCAM This label is ready to print onto Avery Label #8931 NOVEMBER 2012 CARIBBEAN POLICY RESEARCH INSTITUTE BLOCK H, ALISTER MCINTYRE BUILDING UNIVERSITY OF THE WEST INDIES, MONA KINGSTON 7, JAMAICA TEL: (876) 970-3447 (876) 970-2910 FAX: (876) 970-4544 EMAIL: INFO@CAPRICARIBBEAN.ORG Copyright © 2012 CaPRI All rights reserved. This work was carried out with the aid of a grant from the International Development Research Centre, Ottawa, Canada. This page was left blank intentionally. BACKGROUND BRIEF The Lottery Scam “Advance fee fraud on the internet is a current epidemic that rakes in hundreds of millions of dollars per year. The advent of the internet and proliferation of its use in the 1990s makes it an attractive medium for communicating the fraud, enabling a worldwide reach.”1 Advance Fee Fraud gets its name from the fact that an investor is asked to pay a fee 2 up front or in advance of receiving any proceeds, money etc. These types of scams are not unique to Jamaica and in fact have existed in other parts of the world for some time, as evident from the signature by member and non-member States of the Council of Europe of the Convention on Cybercrime in Budapest, on 23 November 2001, long before this became a major issue for Jamaica. In 1999, the Jamaican Government initiated the liberalization of the telecommunications industry with full liberalization taking effect in March 2003. Since then there has been a...
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...“something for nothing” attitude and leads people to profit by causing loss to others. Most proponents of gambling consider it to be harmless recreation. However, like the tobacco industry, the gambling industry relies and thrives on addiction. The bulk of the gambling industry’s profits come from problem and compulsive gamblers. In terms of casinos, they produce no wealth for anyone other than the owners. They do not produce a good to be manufactured or exchanged. Almost every dollar spent in a casino is utilized by the casino; -- it is sucked out of the community, not spent elsewhere, or put into a savings account. Gambling and casinos are not economic development. We, as a society, must choose to build a future on solid economic foundation, or build a casino economy where we say it does not matter. The social costs of gambling, the externalities, are hard to quantify. Every casino market has had to deal with rising crime, strained infrastructure, increased personal bankruptcies, and the loss of tax revenue from other businesses that cannot compete with the casinos. (O’Brien, T., (1998) Except for murder, every major crime goes up dramatically soon after a casino’s arrival in a community. Rape, robbery, aggravated assault, burglary, larceny, and...
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...state of the current US economy is in a spiral deficit that can be attributed to several factors. Of these many aspects there are a handful that stands out such as gas prices, interest rates and most importantly unemployment. The unemployment rate in the United States has decreased to 7.8 percent in September of 2012. Historically, from 1948 until 2012, the United States Unemployment Rate averaged 5.80 Percent reaching an all-time high of 10.80 Percent in November of 1982 and a record low of 2.50 Percent in May of 1953 (Trade Eco, 2012). Unemployment As of 2012 the rate of unemployment has dropped dramatically throughout 41 states with some states not even seeing a change of improvement such as California being in the top 5 of the highest unemployment rate. Long-term unemployment has serious ramifications for the individual and for the economy. Individuals suffering long term unemployment become less motivated and begin to lose their credibility and experience as well as the ability to compete in the job market, and become less employable as time goes by. It is not a sense of thinking that things will “get better” and a job will arise, because when it does the length of time a citizen has been unemployed does come into effect. Unemployment Cont.: Unemployment is a burden upon taxpayers and social service systems. It hurts the economy because the unemployed are not able to spend money (S. Ellsworth 2012). There are also many social negatives involved with...
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...market share maintain its global competitive advantage over competitors and substitutes. 2. Introduction Casino gambling becomes very popular around the world and it is one of the most common types of entertainment in US and many other countries. According to Investopedia, A casino has been defined as houses or accommodates that provide facilities for certain types of gambling activities. Casino is usually built in combine with hotels, restaurants, retail shopping and other tourist attractions. It also provides facilities for hosting live entertainment events and sporting events (Investopedia 2011). The industry has been growing very fast in the past few decades in relate to its size worldwide. It has a large impact to the US’s economic which include attracting tourists travel to US for gambling, creating a large number of job opportunities, paying enormous amount of tax to the government. During the year 2010, the commercial casino industry used to employ about 375000 people earning around $13 billion in wages, making it one of the biggest industries in the US (Investopedia 2011). Casinos are one of the...
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...threatening and challenging its wealth. The United States is a Country of free thinking with fruitful opportunities for the everyday people. The United States has faced many economic upswings, such as the baby boom era; has experienced excessive military spending, like the Reagan era; has dealt with wars, like Vietnam; and has even experienced political failure, like the Bay of Pigs and President Kennedy. Although we have faced many disappointing turns, and has been tested with great obstacles and difficulties, the lasting power of this country cannot be tested and will not be waivered. 1950’s –Boom Goes the Economy Baby! World War II was one that left America, the people, and the social and economical growth completely drowned by the debt and aftermath it created. In the 30’s President Roosevelt had implemented the “new Deal” when he was elected into office. This deal he had, gave Americans hope that the depression they were in would be soon over. By the year 1939, the New Deal had run its course. In its short existence, the New Deal’s programs helped improve the lives of the American people suffering from the events of the war-caused depression. Although this new deal was not as successful as planned, it did set a precedent for the federal government to play a key role in the economic and social affairs of the nation. In later years Harry Truman attempted to reinitiate some of the same principles and programs but his efforts had little impact on what was truly...
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...Wikipedia, the free encyclopedia “Ineconomics, utility is a measure of satisfaction;it refers to the total satisfaction received by a consumer from consuming a good or service. “Given this measure, one may speak meaningfully of increasing or decreasing utility, and thereby explain economic behavior in terms of attempts to increase one's utility. Utility is often affected by consumption of various goods and services, possession of wealth and spending of leisure time. According to Utilitarian’s, such as Jeremy Bentham (1748–1832) and John Stuart Mill (1806–1873), theory “Society should aim to maximize the total utility of individuals, aiming for "the greatest happiness for the greatest number of people". Another theory forwarded by John Rawls (1921–2002) would have society maximize the utility of those with the lowest utility, raising them up to create a more equitable distribution across society. Utility is usually applied by economists in such constructs as the indifference curve, which plot the combination of commodities that an individual or a society would accept to maintain at given level of satisfaction. Individual utility and social utility can be construed as the value of a utility function and a social welfare function respectively. When coupled with production or commodity constraints, under some assumptions, these functions can be used to analyze Pareto efficiency, such as illustrated by Edgeworth boxes in contract curves. Such efficiency is a central concept in welfare economics...
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...------------------------------------------------- MG 640 Final Exam Managerial Economics Latest ------------------------------------------------- Click below link for Answers ------------------------------------------------- http://workbank247.com/q/mg-640-final-exam-managerial-economics/26347 ------------------------------------------------- ------------------------------------------------- http://workbank247.com/q/mg-640-final-exam-managerial-economics/26347 ------------------------------------------------- ------------------------------------------------- PART I : Problem/Discussion 1. a. Why would you expect unemployment to fall during an economy’s expansionary phrase and to rise during a contractionary phrase? Discuss and make reference to the business cycle. b. Why does GDP measure only final goods and services produced rather than all goods and services produced? Explain 2. Why is the aggregate demand (AD) curve downward sloping? Discuss and use graphs where necessary? The Aggregate Demand (AD) curve is downward sloping because consumption, investment and net exports are affected by changes in the price level . Aggregate Demand (AD) is the sum of the demand for all goods and services in the economy. It can also be seen as the quantity of real GDP demanded at different price levels. (AD) = C + I + G + (X – M) C= total consumer expenditure on goods and service I= total investment spending by companies for capital goods such as factories, equipment...
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...Journal of Economic Behavior & Organization 72 (2009) 147–152 Contents lists available at ScienceDirect Journal of Economic Behavior & Organization journal homepage: www.elsevier.com/locate/jebo Cognitive abilities and behavioral biases Jörg Oechssler a,∗ , Andreas Roider a , Patrick W. Schmitz b a b Department of Economics, University of Heidelberg, Bergheimer Str. 58, 69115 Heidelberg, Germany Department of Economics, University of Cologne, Germany a r t i c l e i n f o a b s t r a c t We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the cognitive reflection test of Frederick [Frederick, S., 2005. Cognitive reflection and decision-making. Journal of Economic Perspectives 19, 25–42] indeed are correlated with lower incidences of the conjunction fallacy and conservatism in updating probabilities. Test scores are also significantly related to subjects’ time and risk preferences. Test scores have no influence on the amount of anchoring, although there is evidence of anchoring among all subjects. Even if incidences of most biases are lower for people with higher cognitive abilities, they still remain substantial. © 2009 Elsevier B.V. All rights reserved. Article history: Received 19 May 2008 Received in revised form 15 April 2009 Accepted 15 April 2009 Available online...
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...Gambling is a complex and intriguing human activity. When it appeared long ago, it seen as popular, but it has cycled to the opposite extreme to be rebuked, condemned and repressed as a social evil. More precisely, Video Lottery Terminals (VLTs) are one important aspect of gambling that affects gamblers and makes them addicts. These machines are often refered to as the “crack cocaine of gambling”, “one armed bandits” or even the “devil`s television”. First, to uncover the VLTs world, we need to go back and explore the history of these machines. Then, we need to emphasize on the relation between the population and the machines: what attracts people and how? Following this, view by a psychological manner, we have to focus on the fact that VLTs are not random and how people are enslaved by them. Also, the explanation of how these slot machines are taking money from people and their effects. Statistics revealed by a professor who studied gambling in Las Vegas said that 78 per cent of pathological gamblers had thought about suicide and 49 per cent had attempted it; 35.5 per cent said they stole from work to pay for their gambling and 27.5 per cent said they filed for brankruptcy. Finally, the role of the government and the economy will be introduced, and some solutions for addicted gamblers must be included. First, a little historical introduction is important to analyse where the gambling and VLTs came from. The earliest reference to gambling is found in ancient Egypte displaying...
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...Human Behavior and the Efficiency of the Financial System by Robert J. Shiller* Abstract Recent literature in empirical finance is surveyed in its relation to underlying behavioral principles, principles which come primarily from psychology, sociology and anthropology. The behavioral principles discussed are: prospect theory, regret and cognitive dissonance, anchoring, mental compartments, overconfidence, over- and underreaction, representativeness heuristic, the disjunction effect, gambling behavior and speculation, perceived irrelevance of history, magical thinking, quasimagical thinking, attention anomalies, the availability heuristic, culture and social contagion, and global culture. Theories of human behavior from psychology, sociology, and anthropology have helped motivate much recent empirical research on the behavior of financial markets. In this paper I will survey both some of the most significant theories (for empirical finance) in these other social sciences and the empirical finance literature itself. Particular attention will be paid to the implications of these theories for the efficient markets hypothesis in finance. This is the hypothesis that financial prices efficiently incorporate all public information and that prices can be regarded as optimal estimates of true investment value at all times. The efficient markets hypothesis in turn is based on more primitive notions that people behave rationally, or accurately maximize expected utility, and are able...
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