Why Can Weak Linkages Cause International Stock Market Synchronization? The Mode-Locking Effect

This study investigates the synchronization between stock markets in different countries. International stock markets tend to synchronize with one another in what appears to be an international financial cycle, yet trade and capital flows between the stock markets do not appear to be strong enough for one stock market to “drive” fluctuations in another stock market. Why are these weakly linked financial markets synchronized? This study suggests that global stock market synchronization results from a “mode-locking” phenomenon, a nonlinear process in which even a weak coupling between oscillating systems like stock markets tends to synchronize the fluctuations between the systems. Simulations, econometric analysis, and spectral analysis investigate this mode-locking hypothesis. Analysis reveals modest support for the mode-locking hypothesis of international stock market synchronization

The Big Economic Development Project Question: Is It New Revenue or a Spending Transfer?

Most local governments pursue some degree of economic development activity to strengthen their economy by adding jobs and generating tax revenue. Witness the growth in tax increment financing, property tax abatements, tax credits, and exemptions for economic development. These state and local incentives totaled more than $80 billion in 2012. Economic development projects can represent a significant boon for a local economy. Estimating how much money they might generate, however, is not as easy as it initially seems, and jurisdictions can receive far less net new revenue than developers predict. Most consumers have finite incomes, which limits their discretionary spending. Spending at a new venue can generate a shift or transfer in discretionary spending from one product, service, or place to another because limited income forces consumers to choose how, where, and when to spend money. Even spending at such a unique place as an amphitheater displaces spending

The State of the Region: Hampton Roads 2016

This is Old Dominion University\u27s 17th annual State of the Region report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion or it\u27s president, John R. Broderick. The report maintains the goal of stimulating thought and discussion that ultimately will make Hampton Roads an even better place to live. We are proud of our region\u27s many successes, but realize that it is possible to improve our performance. In order to do so, we must have accurate information about where we are and a sound understanding of the policy options open to us.https://digitalcommons.odu.edu/economics_books/1002/thumbnail.jp

2016 State of the Commonwealth Report

This is the second State of the Commonwealth Report produced by the Center for Economic Analysis and Policy at Old Dominion University. It is jointly sponsored by ODU\u27s Strome College of Business and the Virginia Chamber of Commerce. While the report represents the work of many people connected in various ways to the university, it does not constitute an official viewpoint of Old Dominion, or it\u27s president, John R. Broderick. Similarly, it does not represent the views of the Virginia Chamber of Commerce or it\u27s president, Barry DuVal. The report maintains the goal of stimulating thought and discussion that ultimately will make Virginia an even better place to live, work, and do business. We are proud of the Commonwealth\u27s many successes, but realize that it is possible to improve our performance. In order to do so, we must have accurate information about where we are and a sound understanding of the policy options open to us.https://digitalcommons.odu.edu/economics_books/1019/thumbnail.jp

2015 State of the Commonwealth Report

This is the first State of the Commonwealth Report. It is jointly sponsored by the Strome College of Business at Old Dominion University and the Virginia Chamber Foundation. While the report represents the work of many people connected in various ways to the university, it does not constitute an official viewpoint of Old Dominion or it\u27s president, John R. Broderick. Similarly, it does not represent the views of the Virginia Chamber of Commerce or it\u27s president and CEO, Barry DuVal. The goal of the report is to stimulate thought and discussion that ultimately will make Virginia an even better place to live, work, and do business. We are proud of the Commonwealth\u27s many successes, but realize that it is possible to improve our performance. In order to do so, we must have accurate information about where we are and a sound understanding of the policy options open to us.https://digitalcommons.odu.edu/economics_books/1020/thumbnail.jp

The State of the Region: Hampton Roads 2009

This is Old Dominion University\u27s 10th annual State of the Region report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion or it\u27s president, John R. Broderick. The report maintains the goal of stimulating thought and discussion that ultimately will make Hampton Roads an even better place to live. We are proud of our region\u27s many successes, but realize that it is possible to improve our performance. In order to do so, we must have accurate information about where we are and a sound understanding of the policy options open to us.https://digitalcommons.odu.edu/economics_books/1009/thumbnail.jp

The State of the Region: Hampton Roads 2015

This is Old Dominion University\u27s 16th annual State of the Region report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion or it\u27s president, John R. Broderick. The report maintains the goal of stimulating thought and discussion that ultimately will make Hampton Roads an even better place to live. We are proud of our region\u27s many successes, but realize that it is possible to improve our performance. In order to do so, we must have accurate information about where we are and a sound understanding of the policy options open to us.https://digitalcommons.odu.edu/economics_books/1003/thumbnail.jp