Economics On The Move in BOLIVIA!

nicolasDear All,
I am honored to announce that Economics On The Move (EOTM) research scholar, Nicholas Calderon’s project Capesinos Voice the Discourse of Fair Trade been accepted into the 2012-2013 cohort of the Haas Scholars at the University of California, Berkeley (see message below).

Nicolas is in his junior year at UC Berkeley’s Society and Environment program. His studies emphasize understanding how we can improve human relationships with natural resources and each other. Nicholas’ project Capesinos Voice the Discourse of Fair Trade will take place in the Altiplano region of Bolivia, where he will investigate the degree to which fair trade’s purported benefits are met. He will examine the extent of grower knowledge regarding fair trade entitlements, and their use of the Fair Trade social premium.

His methods will combine an examination of discourses about the benefits of “fair trade;” participant observation with photographic documentation; and interviews conducted with small-scale growers (those producing less than 2 hectares). The significance of this research will be to publish the quinoa growing process and what individual actors say about Fair Trade in a free iBook. EOTM Research Fellow Dr. Humberto Caspa has provided Nicholas with critical mentorship in preparing his successful Hass application (see message below). Dr. Caspa and EOTM will continue to support Nicholas’ research efforts in Bolivia. And with the support of private foundations, EOTM plans to increase the number of research scholarships we award.

Please join me in congratulating EOTM research scholar, Nicholas Calderon on this impressive accomplishment. We are grateful to have been able to contributed to his success.

Daniel Barkley, Ph.D.
Executive Director, Economics On The Move

EOTM Fellow Accepted in to the London School of Economics and Political Sciences

pabloDear All,
It brings me great honor and privilege to announce that the London School of Economics (LSE) has accepted Economics On The Move (EOTM) Research Fellow Pablo Bejar to their graduate program in International Development and Economic Policy (see message below and attached photo). This is an incredible opportunity

EOTM awarded Pablo a Research Fellowship in 2010 to support the revision of his thesis paper: “A Current Analysis of Firm Foundation Giving and its Effects on Corporate Financial Performance for American Companies” for academic publication.

Last summer, the Imgard Conix Foundation invited Pablo to present his paper on foundation giving paper to the “Workshop II: Financialization and Corporate Social Responsibility” held in Berlin, Germany. And the Social Responsibility Journal (Emerald) has accepted his paper for publication (see message below).   With help of private foundations, EOTM plans to increase the number of Research Fellowships it awards.

Pablo has made many important contributed to EOTM; he has written grants applications and letters of inquiry to private foundations and government agencies on our behalf. Pablo has also been instrumental in developing EOTM’s the Latin American Economic Development course by identifying appropriate touring destinations and translating documents and letters from our partner universities and organizations in Mexico and Bolivia.

Please join me in congratulating Economics On The Move Research Fellow Pablo Bejar on his remarkable achievements. We are grateful to have been able to contributed to his success.

Daniel Barkley, Ph.D.
Executive Director, Economics On The Move

EOTM’s 2012-13 Graduate Fellowship Recipient

zubairDear All,
I am happy to announce that Economics On The Move (EOTM) has awarded Zubair Edrees Akbar the 2012-2013 Graduate Fellowship award. EOTM’s Graduate Fellowship supports recent graduates in revising their papers for publication in peer-reviewed journals and presenting their work at professional conferences.

Last month Zubair successfully completed the oral defense of his thesis “The Performance of Islamic Equity Indexes Global Capital Markets” for a Master in Science (MSc) degree in Finance from EDHEC (Ecole Des Hautes Etudes Commerciales du Nord) in Nice, France (see message below).

EDHEC is a highly selective and top-ranking business school; the Financial Times of London ranked EDHEC’s MSc Program in Finance 6th worldwide.

I was honored and privileged to have served as Zubair’s thesis advisor.

Zubair has made many important contributions to Economics On The Move. He was an EOTM instructor for ‘Exploration’at Yale University in 2011. Exploration is an enrichment program that introduces to high school juniors and seniors to the rigors of college academics. Zubair taught two courses: “Investment Methods” and “Business Management.” Zubair developed these courses himself employing many of the hands-on learning and interactive teaching techniques that have helped to make EOTM a success. Students rated his courses amongst the top four courses out of all courses offered (see attached pictures of Zubair teaching at Yale’s Summer Exploration).

Zubair brings with him many extraordinary talents that will help support our project with Citibank on replicating their ‘Future Focus’ program in Nigeria. Future Focus is a program that grooms young people for careers in financial services. Zubair’s experience, passion and dedication to excellence make him an ideal role model for this project.

Economics On The Move is grateful to have played a role in Zubair’s success and we are happy to award him the 2012-2013 Graduate Research Fellowship Award. With the help of private foundations, EOTM plans to increase the number of Graduate Research Fellowships we award.

Please join me in congratulating Zubair Akbar on his remarkable achievements.

Daniel Barkley, Ph.D.
Executive Director, Economics On The Move

EOTM|Fellowship Program for Graduate Students

EOTM Graduate Fellowship is a scholastic award
Meet EOTM’s 2010 Fellows
Fellowship Qualifications:
  • Candidate must have completed a bachelor’s degree
  • Candidate must be currently pursuing either a master’s degree or doctor of philosophy
  • Paper must be original and unpublished
  • Applicants from all universities and colleges are welcomed
*2014-2015 Applications must be submitted to by October 1, 2014.

2010-11 EOTM Fellow: Pablo Andres Bejar

Pablo Andres Bejar, Bolivia

Pablo Andres Bejar, Bolivia

My name is Pablo Andres Bejar and I am an international student from Bolivia who graduated in May 2010 from California State University, Fullerton with a Masters in Business Administration and a strong emphasis in Economics.  My education has helped me develop an understanding of the many facets of Business, Finance, Government, and Socioeconomic thinking.  My exposure to a variety of economics and finance courses has fueled my passion for economic and financial research and analysis.

Throughout my academic career I have had significant research and analytical experience in Economics, Business, and International Finance.  For instance, I have written three research papers that I am particularly proud of.  The first one was written in the fall of 2008 and it was titled “Current Relationship between Unemployment and Real GDP for the U.S: Okun’s Law Revisited (1985-2007),” which according to econometrics Professor Barkley Ph.D. was one of the best term paper a student has ever submitted in his class.  The other empirical research paper was written in the fall 2009 with the help of Professor Rokon Bhuiyan PhD.  The title of this paper is Forecasts of the Effects of Monetary Policy Shocks in a Small Open Economy: A Structural VAR Approach (The Canadian Case Revisited 1994-2007). The third paper examines the current empirical relationship between corporate social performance and corporate financial performance for U.S. companies and it is titled “A Current Analysis of Firm Foundation Giving and its Effects on Corporate Financial Performance for American Companies.”  Finally, I recently finished working as the leader for a consulting project for a local small company with Professor Peng Chang PhD.

Having been born and raised in Bolivia, I have witnessed great poverty and underdevelopment.  I truly believe that my experiences in Bolivia have inspired my passion and commitment to help people in need.  For this reason, my goal in life is to help communities in need by working for international organizations such as, the World Bank or the United Nations.

PAPER 1: A Current Analysis of Firm Foundation Giving and its Effects on CorporateFinancial Performance for American Companies (2001-2007)

Abstract: The corporate social – financial performance topic has been in the making for over thirty years. Researchers throughout the years have used different measures of corporate social performance, such as the KLD index, direct corporate giving contributions, Fortune reputation ratings, and transparency reports to name a few (Margolis and Walsh, 2003). This study utilizes foundation giving as the measure for corporate social performance, and analyzes the current situation with extensive data from 2001 to 2007 for medium to large public American companies. Based on the model by Moon (2007), and the assumptions from Waddock and Graves (1997b) I control for the heterogeneous nature of each firm in sample. However, unlike the results from Waddock, Graves, and Moon, after utilizing firm foundation giving as the measure for corporate social performance this research demonstrates that there are currently non-significant consequences of corporate foundation giving on firm ROA, Tobin’s q, and revenues.

PAPER 2: The Current Relationship between unemployment and real GDP: Okun’s Law revisited for the United States (1985-2007)

Abstract: The Okun’s Law model has been accepted as the simple negative relationship between movements of the unemployment rate and the real gross domestic product (GDP). Generally, empirical studies in the United States show that for every one-percentage point by which the actual rate of unemployment exceeds the natural rate of unemployment, real gross domestic product decreases approximately by 2 to 3 percent (Blanchard and Fischer 1989). In this study however, using macroeconomic data from 1985-2007 and the two stage least square methodology to control for the simultaneity nature of the model following Martin Prachowny’s 1993 assumptions, I found that a 1 percent increase in the unemployment rate above its natural rate “ceteris paribus” causes real GDP to decrease by about 1.42 percent. This result shows a coefficient slightly lower than the originally estimated coefficient of 2, but much higher than the one reported by Prachowny of 0.66.

PAPER 3: Projections of the Effects of Monetary Policy Shocks in a Small Open Economy: A Structural VAR Approach (The Canadian Case Revisited 1994-2007)

This paper is based on the conclusions of Rokon Bhuiyan (2008). The main purpose of the paper is to replicate, develop, and summarize a structural VAR model for the Canadian economy. Instead of using the monetary aggregate M1 variable as the main policy instrument used by Cushman and Zha (1997) and Kim and Roubini (2000), in this paper, the overnight rate or Canadian interest target rate will be used as the main instruments. The main findings of this study include: the immediate liquidity and exchange rate effects right after a policy shock, and the delayed responses of output (about 6 months) and inflation rate (about 12 months).

In addition, we found that the transmission of the monetary policy shock functions through both the interest and exchange rates. Unlike the conclusions by Eichenbaum and Evans (1995), we concluded that a contractionary policy shock immediately appreciates the exchange rate, but eventually depreciates with time.