An Empirical Study of the Relationship between the Ranking of America’s Top States for Business and Unemployment Rate, Growth Rate of Employment, and Growth Rate of Gross State Product

This study attempts to determine whether the ranking of America’s top states for business by CNBC is correlated with state economic performance such as the unemployment rate, the growth rate of employment, and the growth rate of gross state product. Binary variables for the South and the West are also considered. The sample consists of 50 states in 2018. The results indicate that the ranking of America’s top states for business is correlated with each of these economic indicators. Regression analysis shows that the coefficient of the ranking in each of the three regressions is significant at the 1% level. A higher ranking for a state is associated with a lower unemployment rate, a higher growth rate of employment, and a higher growth rate of gross state product.

Modelling the economic impacts of a large event: The case of the Gold Coast 2018 Commonwealth Games

This article consolidates the pros and cons of the two common modelling techniques for economic impact analysis: the input–output multiplier and the computable general equilibrium (CGE) technique. The latter is recommended for large event assessment and was used to examine the economic impacts of the Gold Coast 2018 Commonwealth Games. The Games is estimated to have generated approximately A$2.5 billion of gross state product (GSP) to Queensland after netting out the costs incurred. The effect is spread over a period of nine years from pre-Games period of preparation for the Games, through the Games period itself, and then rather significantly in the post-Games period. While benefits accrue to Queensland, the rest of Australia is estimated to lose due to the so-called ‘crowding out effect’.

The impacts of in-state procurement preference policies on the economy of South Carolina

Purpose This paper aims to answer the question: What are the impacts of implementing in-state procurement preference policies on the economy of the state of South Carolina? Design/methodology/approach Toevaluate the impacts, the following six economic indicators were analyzed: jobs, personal income, real disposable income, output (sales), gross state product and value added. The data were collected from the South Carolina Procurement Services Office and were then analyzed using the Regional Economic Model Policy Insight (REMI PI+) for economic forecasting and policy analysis. The results from the REMI PI+ showed that implementing in-state preference policies benefitted the state and its communities economically. Findings Specifically, from 2010 until 2017, the total economic impact of implementing preference policies generated $17m in total output, 135 total job-years, $10.22m in gross state product (GSP), $10.27m in value added, $7.52m in income and $5.14m in real disposable personal income. The impact on the wholesale trade industry was over $5m in total industry output and approximately 27 jobs-years. In the manufacturing sector, the total impact was over $4m in output and approximately 17 jobs-years. The impact on the construction industry was approximately $3m in output and approximately 30 jobs-years. Although the values of these economic indicators were very small compared to the size of the state economy, they did outweigh the direct cost of implementing preference policies, thus demonstrating that overall the in-state preference policies contributed to South Carolina’s economy. However, further research is warranted to identify more precisely the benefits and costs of implementing preference policies.

The Financial Crisis, Fiscal Federalism, and the Creditworthiness of US State Governments

This study examines why credit rating agencies offered optimistic assessments of some US states during the 2008–2009 financial crisis. Focusing on the creditworthiness of state governments, we argue that because states are procyclic spenders, growth in a state’s economy is actually harmful to that state’s ability to maintain its fiscal promises. As the federal government spends more heavily in a state, however, the procyclic tendencies of that state matter less to credit raters, and the negative effects of growth in a state’s economy diminish. We test our theory in two ways. We first model the Great Recession as an intervention, finding that states receiving less money from the federal government are more likely to experience increases in their credit scores following the crisis. We then test whether this pattern holds outside of the financial crisis for the years 1990–2006. We observe that increases in gross state product are negatively correlated with credit ratings when there are little to no changes in federal dollars flowing into a state.

The United States

This chapter applies the ? model to the United States of America. By assuming that the US is a ‘world-system,' we can measure the economic efficiency of each state (and the District of Columbia). The model predicts an output floor based on the inputs of land and people as per-unit energy-equivalents. This expected output is then compared to the actual Gross State Product (GSP) as a per-unit energy-equivalent. States that are economically efficient register a positive residual, and hence a positive ? score. However, given potential measurement inaccuracies, states with low negative scores are also added to this efficient tier.

Have Post-Kelo Restrictions on Eminent Domain Influenced State Economic Development?

In 2005, the Supreme Court’s Kelo v. New London ruling reaffirmed governments’ right to use eminent domain for economic development purposes. Widespread public backlash over the ruling resulted in numerous states quickly passing laws restricting the use of eminent domain for such purposes. This study uses the swift and uneven response of state legislatures to the public outcry that followed Kelo to test the empirical question of whether restrictions on eminent domain affect states’ ability to fulfill their economic development goals. Results indicate that states that restricted the use of eminent domain following the Kelo ruling experienced no adverse effects in terms of state employment and gross state product or county employment and county income in the states’ most dense counties.

Caracterí­sticas Socioeconómicas De Hidalgo

RESUMEN En este artí­culo se abordan algunas caracterí­sticas socioeconómicas del estado de Hidalgo, con énfasis en educación (condición de alfabetismo), población (tasas de crecimiento demográfico y la proporción que guarda la entidad con respecto al paí­s), economí­a (principales actividades económicas y el valor de la producción estatal, con un breve análisis de la concentración económica) y el mercado laboral del estado. ABSTRACT This article examines various socioeconomic characteristics of the state of Hidalgo with emphasis on education (literacy), population (rate of demographic growth and its relation to the levels of the rest of the country), economics (main economic activities and the gross state product with a brief analysis of the major economic sectors) and the state’s labor market.