The economic impact of the denver broncos football club on the denver metropolitan economy

The purpose of the study was to assess the economic impact of the Denver Broncos Football Club on the Denver Metropolitan Area economy. Primary data required to determine the economic impact was collected from three main sources. First, a two page survey questionnaire was mailed to 9,519 randomly selected season ticket holders with 4,810 returned questionnaires. The City and County of Denver provided financial management information reports for all home games as the second source of primary data. Finally, the Denver Broncos administration provided financial information pertaining to operational expenditures. The total industrial output or economic impact was calculated at $ll7,80l,500 for the economic activity associated with the Denver Broncos Football Club for the 1989-1990 season. Direct economic impact was shown to be $64,282,200 and indirect and induced effects corresponding to the multipliers generated by the model was an additional $53,519,300. Employee compensation was $47,213,300 and property income provided $16,732,000 to the Denver metropolitan economy. Indirect business taxes totaling $7,118,300 went to local, county, state and federal government. The economic activity produced 1,828 jobs directly and indirectly resulting from Broncos activity in the metropolitan area.     

State and local finance in a command economy: the case of the soviet union

Two aspects of Western public finance, the economic theory of federalism and public choice theory, have insights that, if adopted in the Soviet Union, could help improve its resource allocation to permit economic growth, mitigate the problems it has with its minorities, and aid the transition away from a centralized, Communist-Party-dominated State and society. The economic reforms proposed by Chairman Mikhail Gorbachev are briefly summarized and criticized in the context of a summary discussion of governmental decisionmaking in the Soviet Union. Lessons are identified from the U.S. historical experience that suggest certain steps to improve local government as necessary preconditions for improving Soviet economic efficiency. These are free local elections, a free local press, an independent judiciary with real authority to protect the integrity of the press and local elections, real decentralization of political power to the regions, steps toward equalization of fiscal capacity among the regions, increased citizen mobility, and adoption of actions to provide incentives for Western investment in local government capital formation. This last precondition requires a convertible currency. (To achieve a convertable currency may require other economic and political changes that are beyond the scope of this paper.) Aspects of the paper rely on information publically available through mid-1989.     

The impact of formal finance on the rural economy of India

This paper explores the use of informal credit as a strategy for managing risks by market women in northern Ghana. A broad concept of the costs of risk management strategies is introduced and encompasses both a time and monetary dimension. Based on qualitative data, the analysis reveals that market women invest a considerable amount of time in maintaining complex networks of informal credit providers to ensure their access to credit once a shock occurs. Informal credit involves high transaction costs and prevents market women from growing out of poverty in the long term.     

The impact of the financial sector on economic development: Some cross-section evidence

Conclusion This paper has attempted to analyze the effect of the development of the financial sector, as reflected by the extent of financial deepening, in the economic development of countries. The Theoretical framework integrating financial growth to real growth is basically an adaptation of the Gurley-Shaw theory of finance in the development context, but with emphasis placed upon the supply-leading role of the financial sector. The empirical results of this study although not conclusive, indicate that financial deepening leads to a higher rate of capital accumulation and a higher level of per capita income. The lack of definitiveness of our evidence in support of the financial theory of economic development is due to a lack of comparable data on financial institutions, other than banks, for the different countries. Thus, although our study lends support to the supply-leading thesis, further judgement of the thesis must await more detailed empirical analyses.     

Surplus labour and economic efficiency in the traditional sector of a dual economy: The Guatemalan case

In this paper we present empirical evidence on two closely related and widely discussed theoretical issues in development economics:

(A) the sign and the magnitude of the marginal productivity of labour—as they relate to the existence of surplus labour in the traditional sector of dual economies, and

(B) the economic efficiency of farmers in traditional agriculture. With regard to (A) we found the marginal productivity of labour in the traditional sector of Guatemalan agriculture to be positive, but considerably lower than the average wage rate that prevails in the area. Regarding (B) our estimated indexes of efficiency indicate that farmers in the traditional sector of Guatemalan agriculture make inefficient use of their economic resources.     

A comparative analysis of the impact of the 1997 Asian crisis and the contemporary global economic crisis on the Korean political economy

The 1997 Asian crisis created a political space for neo-liberal reformers within the Korean state to advance a set of policies that had previously been frustrated. This agenda is widely seen to have stalled following an initial burst of neo-liberal reform in the post-crisis period. Several scholars have argued that a partial reconstruction of an economy dominated by a closed nexus between the state and leading domestic firms is taking place in contemporary Korea. Compared to the 1997 crisis the macroeconomic impact of the contemporary crisis on Korea has been limited. However, Korea initiated the largest fiscal stimulus (in relation to GDP) in the Organisation for Economic Co-operation and Development. In terms of the policy environment the impact of the contemporary crisis has been considerable. This paper argues that key aspects of the Korean state's response to the crisis represent a selective limited retreat from neo-liberalism, the significance of which should not be overstated.     

The political economy of development: An empirical analysis of the effects of the institutional framework on economic development

Researchers suggest that societies characterized by high levels of political freedom are expected to exhibit significantly higher rates of economic growth than those in which civil liberties and political rights are abridged. In the present study, four sets of national-level data and panel regression analysis are used to examine the relationship between the institutional framework and various measures of economic development. While the results from the full sample support the hypothesis that political freedom enhances economic development, the results obtained from the disaggregated models cast doubts on this conclusion. An important lesson to be learned from the present study is that there is yet no single empirical model of economic development that can be applied to all societies. John Mukum Mbaku, PhD, is professor in the department of economics at Weber State University. He received the Ph.D. degree in economics from the University of Georgia in 1985. His research interests are in public choice, economic development, property rights, and Africa. He has published articles in such journals asPublic Choice, Cato Journal, Applied Economics (UK),Konjunkturpolitik (Germany),International Review of Economics and Business (Italy),Indian Journal of Social Science, Asian and African Studies, Journal of Economic Development, The Review of Black Political Economy. He is associate editor (Africa) ofJournal of Third World Studies. Recent publications include Markets and the economic origins of apartheid in South Africa,Indian Journal of Social Science, vol. 6, no. 2 (1993); Foreign aid and economic growth in Cameroon,Applied Economics (UK), vol. 25, no. 10 (1993); Rent seeking and institutional stability in developing countries, (with Mwangi S. Kimenyi),Public Choice, vol. 77, no. 2 (1993); and Institutional instability and economic growth in sub-Saharan Africa,International Review of Economics and Business (Italy), vol. 40, no. 9 (1993). He is currently researching the determinants of institutional instability in Africa.