Job security regulations and the dynamic demand for industrial labor in India and Zimbabwe

Government permission is required to dismiss or lay off even a single worker in India and Zimbabwe. Dynamic labor demand equations, derived from a CES cost minimization model, are estimated for 64 manufacturing industries in these two countries. The data reveal a substantial reduction in demand for workers but no slowing in adjustment of number of employees following enactment of the labor laws. In India, no comparable reduction in labor demand occurred in small scale plants uncovered by the job security regulations. Among larger Indian plants, the drop in labor demand is estimated to be largest in industries where: coverage of the legislation is more extensive, private ownership dominates, and there are fewer union members.     

Quotas and equilibrium relative prices in the trade restricting country

This paper is concerned with the effects of international trade restriction through quotas. It is shown that a casual relationship exists between the fraction of licences distributed domestically, the terms of trade, and the domestic relative price of the importable.     

The impact of the foreign corrupt practices act on us exports

In 1977 the Foreign Corrupt Practices Act (FCPA) was enacted to penalize US firms and their employees for paying bribes to foreign government officials. If bribe payments influence the awarding of contracts and the FCPA regulation differentially affects US exporters compared to foreign competitors, then US exporters' bribe-paying ability and market share would be expected to decline. This study provides empirical evidence that the FCPA had a negative effect on US exports to non-Latin American countries but not to bribery prone ones in Latin America.     

The Rise and Fall of Maya Civilization

Abstract . ‘Savages,’ as Europeans considered the Americans of ancient times, never built the great Mayan centers. The builders of great cities in Meso-America were a well-organized group with an adequate land base and a rather sophisticated technology. From 300 B.C. to 900 A.D. the Maya developed and perfected an agriculture-based economy with a well developed commerce, writing, art, science, religion and government, as well as an advanced architecture of monuments, palaces, temples and pyramids. Their civilization reached intellectual heights unique in the Western Hemisphere. What conditions caused its decline and fall? Interpreting the geographic and historical record in the light of the relevant social sciences, one can say a complex of circumstances: ecological abuse, exploitation of the working population, mismanagement, militarism, bad weather, famines, and epidemics.