Integration of Satellite and Financial Data to Model Future Economic Impact of Citrus Crops (Final Project Report)

This study analyzed the health and overall landcover of citrus crops in Florida. The analysis was completed using Landsat satellite imagery available free of charge from the University of Maryland Global Landcover Change Facility. The project hypothesized that combining citrus production (economic) data with citrus area per county derived from spectral signatures would yield correlations between observable spectral reflectance throughout the year, and the fiscal impact of citrus on local economies. A positive correlation between these two data types would allow us to predict the economic impact of citrus using spectral data analysis to determine final crop harvests.

Regional growth, structural change, and natural disaster

Hurricanes, earthquakes, floods, and other serious natural hazards have been attributed with causing changes in regional economic growth, income, employment, and wealth. Natural disasters are said to cause; (1) an acceleration of existing economic trends; (2) an expansion of employment and income, due to recovery operations (the so-called silver lining); and (3) an alteration in the structure of regional economic activity due to changes in "intra" and "inter" regional trading patterns, and technological change.^ Theoretical and stylized disaster simulations (Cochrane 1975; Haas, Cochrane, and Kates 1977; Petak et al. 1982; Ellson et al. 1983, 1984; Boisvert 1992; Brookshire and McKee 1992) point towards a wide scope of possible negative and long lasting impacts upon economic activity and structure. This work examines the consequences of Hurricane Andrew on Dade County's economy. Following the work of Ellson et al. (1984), Guimaraes et al. (1993), and West and Lenze (1993; 1994), a regional econometric forecasting model (DCEFM) using a framework of "with" and "without" the hurricane is constructed and utilized to assess Hurricane Andrew's impact on the structure and level of economic activity in Dade County, Florida.^ The results of the simulation exercises show that the direct economic impact associated with Hurricane Andrew on Dade County is of short duration, and of isolated sectoral impact, with impact generally limited to construction, TCP (transportation, communications, and public utilities), and agricultural sectors. Regional growth, and changes in income and employment reacted directly to, and within the range and direction set by national economic activity. The simulations also lead to the conclusion that areal extent, infrastructure, and sector specific damages or impacts, as opposed to monetary losses, are the primary determinants of a disaster's effects upon employment, income, growth, and economic structure. ^

Florida International University School of Medicine to add $1 billion to South Florida's economy

Official Florida International University press release on the economic impact expected to result from the establishment of a School of Medicine in South Florida.

Measuring the arts: The case of Dade County nonprofits arts organizations

The theoretical analysis and research of cultural activities have been limited, for the most part, to the study of the role the public sector plays in the funding and support of nonprofit Arts organizations. The tools used to evaluate this intervention follow a macroeconomic perspective and fail to account for microeconomic principles and assumptions that affect the behavior of these organizations. This dissertation describes through conceptual models the behavior of the agents involved in the artistic process and the economic sectors affected by it. The first paper deals with issues related to economic impact studies and formulates a set of guidelines that should be followed when conducting this type of study. One of the ways to assess more accurately the impact culture has in a community is by assuming that artists can re-create the public space of a blight community and get it ready for a regeneration process. The second paper of this dissertation assumes just that and explains in detail all the cultural, political, economic and sociological interactions that are taking place in the Arts-led regeneration process in Miami Beach, Florida. The paper models the behavior of these agents by indicating what their goals and decision process mechanisms are. The results give support to the claim that the public space artists create in a city actually stimulate development. The third paper discusses the estimation of a demand function for artistic activities, specifically the New World Symphony (NWS) located in Miami Beach, Florida. The behavior of the consumers and producers of NWS' concerts is modeled. The results support the notion that consumers make their decisions based, among other things, on the perceived value these concerts have. Economists engage in the analysis of the effects of cultural activities in a community since many cities rely on them for their development. The history of many communities is not told by their assembly lines and machinery anymore but by their centers of entertainment, hotels and restaurants. Many cities in Europe and North America that have seen the manufacturing sector migrate to the South are trying to face the demands of the new economy by using the Arts as catalysts for development. ^

Cruise ship port planning factors

The predictions contained within this dissertation suggest further rapid growth of the cruise industry and the requirement for additional cruise ship berthing worldwide. The factors leading to the tremendous growth in the cruise marketplace are identified and individually addressed. Unfortunately, planning factors associated with the design and construction of cruise ship seaports are not readily available and methods to manage this growth have not been addressed. This dissertation provides accurate and consolidated planning factors essential for comprehensive consideration of cruise ship requirements and design of growing cruise ship ports. The consolidation of these factors results in faster and better informed choices for the port owner/operator with regard to port expansion. Furthermore, this dissertation proposes development of new systems to better manage increasing passenger and ship traffic. If implemented, this will result in optimized port systems providing a greater level of service to passengers and port authorities while simultaneously minimizing environmental and economic impact. ^

A comparative analysis of corporate finance in the United States and Japan from 1880 to 1930

This study explained the diversity of corporate financial practices in two nations. Existing studies have emphasized the reliance on equity finance in U.S. firms and bank loans in Japanese firms. In fact, patterns of corporate finance were much more complex. Financial institutions, which were created by national economic policy and regulation, affected corporate financial practices, but corporate financial practices often differed from what policymakers expected. Differences in corporate financial practices between nations also reflected differences in the mixture of industries in each nation. Many factors such as the amount of fixed capital, the process of production, the level of risk, the degree of innovation, and the importance of the industry in the national economy affected corporate financial practices. In addition, corporate financial practices within each nation differed from firm to firm due to managers’ considerations about stock ownership, which would affect their control power; corporate finance was closely related to control over management through ownership. To explain these complexities of corporate financial practices, the study linked corporate finance with the development of financial institutions in the United States and in Japan. While financial institutions affected corporate financial practices, the response of the firms to financial institutions and opportunities were diverse. The study also attempted to grasp variations in corporate financial practices by dealing with companies in three sectors: railroads, public utilities, and manufacturing. Finally, the study examined the structure of firm ownership. Contradictory to the widely held belief that U.S. firms distributed securities more widely to the public than did Japanese firms, many large American firms remained closely held, while some Japanese counterparts built publicly-held corporations.

The Basis of Support for Hugo Chávez: Measuring the Determinants of Presidential Job Approval in Venezuela

Since 1999, Venezuela has experienced a dramatic transformation of its political system with the coming to power of Hugo Chávez and his movement, known in Venezuela as Chavismo. Chávez has dismantled the previous political system and established neo-populist structures that rely on his personal appeal and the close collaboration of the armed forces. Chávez has relied heavily on significant support from the poor and those who felt economically and politically excluded by the “Punto Fijo system.” President Chávez has built an impressive record of electoral victories; winning every electoral contest except one since coming to power in 1999. He continues to receive relatively high levels of support among sectors of Venezuelan society. However, there is evidence of growing discontent with high crime rates, high levels of inflation, and significant corruption in the public administration. Using data from the AmericasBarometer surveys conducted in 2007, 2008 and 2010, this paper seeks to examine the basis of Chávez’s popular support. In general, the AmericasBarometer findings suggest that Venezuelans support for President Chávez is closely linked to the access to social programs and that as long as the government is able to fund these social programs or missions, particularly MERCAL and Barrio Adentro, it will possess an important tool to garner and sustain support for President Chávez. Our analysis, however, also indicates that evaluations of the national economic situation, more than crime or insecurity, are a key factor that could undermine support for the regime.

Strategic Approach to Smoking Bans: Delaware Gaming Industry

A study of Delaware’s statewide smoking ban suggests that it may have had a significant negative economic impact on the state’s gaming industry. However, such impact may vary in different segments of the hospitality industry, and therefore, must be examined strategically and on a case-by-case basis. The specific market environment, including both demand and competition of each state or each municipality, should be carefully analyzed by both governmental decision makers and by hospitality operators who influence these decision makers.

Smoking Restrictions, Bans Rise in Hospitality Industry

With the rise of smoking restrictions and bans in the hospitality industry the author discusses solutions that are implemented to protect the workforce and guests from involuntary smoking. Historical and societal contexts are drawn, and enforcement of smoking bans as well as their economic impact is explored in an international perspective, primarily since US researchers have propelled the research on smoking and health issues. The author illustrates that there has been no way to avoid enforcements of strict smoking restrictions, and the struggle to do so could just delay the process and waste resources.

The Politics of Ahmadinejad and Chavez: A Misplaced Comparison

This piece illustrates that comparing the political and economic impact of Hugo Chavez and Mahmoud Ahmadinejad on their respective countries based solely on generalizations regarding similarities in foreign policy discourse is an unwarranted analytical jump. To identify the essential difference between the two administrations, the article pays attention to the different domestic politics in each country. Ahmadinejad’s populism seems to fit best within neoliberal populism. In stark contrast, Chavista socialism can be understood as a “heterodox” or “alternative” economic policy.