NAFTA AND THE MAQUILADORAS: BOON OR BANE?

This article examines the factors that affect the value added of the maquiladoras as a group as well as the apparel, electrical equipment, food, furniture, and motor vehicle equipment industries. It also explores the impact of the North American Free Trade Agreement (NAFTA) on the maquiladoras. The economic variables of relative wage rates, relative prices between Mexico and the United States, and U.S. real gross domestic product generally appear to have their expected effects. However, with the possible exceptions of the clothing and electrical equipment industries, this study suggests that NAFTA had either a negative impact or no effect on the maquiladoras. ( JEL F14, 054)     

Education Policy and Teacher Effort

The authors analyze the effect of school, student, and teacher characteristics on teacher effort, as measured by homework frequency and time put in at home. Although teacher autonomy and “professionalism” have little effect on effort, teachers' academic backgrounds matter. Teachers who are assigned higher-achieving students also put in more effort, a response to student ability as well as a consequence of staffing such classes with harder-working instructors.     

PRIVATE PROPERTY RIGHTS AND CRISES IN WORLD FISHERIES: TURNING THE TIDE?

This paper addresses the crises in the world's fisheries involving dwindling stocks, overcapitalization, and jurisdiction disputes from a property rights perspective. In particular, it examines the causes of the problems fishers face and explores the potential of privatizing the right to catch fish as a means to address the crises. The analysis assesses experiences of private harvesting rights with reference to monitoring and enforcement, allocating rights, economic benefits, adjustments in the fishery, and resource rents. It also examines issues such as fluctuating fish stocks, straddling stocks and high seas fisheries, and the endemic poverty of many artisanal fisheries in the context of current fisheries practice.     

Consumer Perceptions of the Consumer Credit Process

This research contrasts the perceptions of consumers with those of loan officers faced with similar credit application situations. Fundamental misperceptions of the credit granting process are encountered. Consumers clearly misperceive the credit standards of both banks and finance companies. Given large interest rate differentials between loan sources and the narrow shopping scope of most consumers for consumer credit, equitable allocation of credit dollars demands greater appreciation of the nature of the credit evaluation process by lender and borrower.