Honors Projects for Financial Economics and Institutions

Permanent URI for this collectionhttps://hdl.handle.net/10125/29574

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Japanese Labor in the Hawaiian Sugar Industry
(University of Hawaii at Manoa, 2014-01-15) Kidoguchi, Karen; Economics
During the spring semester of 1977, I took a course fro Professor Mak entitled the ‘Hawaiian Economy.’ One of the subjects we covered was the growth of the Hawaiian sugar industry. In the course of reading about the history of the sugar industry, I became particularly interested in the chapter dealing with the importation of foreign contract laborers. Faced with a rapidly expanding sugar industry amid a declining native population, the sugar planters and the Hawaiian government looked towards the importation of foreign laborers as the only possible means of securing an adequate supply of labor essential to the well being of the sugar industry. Thus, was instituted under government auspices a system of assisted immigration which tapped the labor resources of almost every part of the world in its search for satisfactory labor in Hawaii. Yet, after the signing of the Emigration Convention between Japan and Hawaii in 1886, and especially after the passage of the Chinese restriction act by the local government in 1887-1888, the majority of the laborers coming to Hawaii were Japanese. In the first part of this thesis, I will attempt to present a study of the chronological development of the Japanese labor force in the Hawaiian sugar industry. The methodology is essentially that of historical research. The period under consideration is from 1868 and the arrival of the ‘First Year People’ to 1924 when all further emigration from Japan was ceased with the enforcement of the Federal Immigration laws. In the second part of this thesis, I will explore the question of ‘how profitable was it for the sugar planters to import Japanese contract laborers to the Islands under the Convention-control System.’ Specifically, I shall attempt to measure the profitability of Japanese contract labor importations in terms of modern capital theory.
The Application of Conservation Economics on Coastal Resources
(University of Hawaii at Manoa, 2014-01-15) Khil, John; Economics
Recently there has been widespread interest in and concern over coastal land and marine communities in providing natural resources under growing demand pressures with increases in population, income, mobility, and leisure time. This is because conflicts over the “who, when, and how” of use are arising with greater frequency. This has resulted in the Coastal Zone Management Act of 1972, with which Congress has encouraged water interface states to establish programs for managing its coastal areas. Hawaii has completed its management program. It is no the intention of this paper to make economic analysis and inventory of specific coastal conflicts nor to evaluate the adequacy of the program’s management structure and economic tools towards achieving stated goals. An attempt, however, is made in the first chapter to give economic meaning to the general nature of conflicts through the use of resource conservation economics as developed by Ciriacy-Wantrup. In other words, to interpret the problems associated with the coastal zone resources using an economic rationale. The multi-faceted meaning of conservation will be defined and confined to its economic meaning and implications, in the explanation of coastal problems.
Sources of Gender-Based Occupational Segregation a Comparison of the United States and Japan
(University of Hawaii at Manoa, 2014-01-15) Nohara, Sherry; Economics
The problem does have a name in the work force; identifying, quantifying, and explaining it, however, may pose quite a challenge. The fact is that women do not earn as much as men in the United States. A survey of 1 990 annual salaries published in a recent issue of U.S. News & World Report (1991 ) revealed that, on the average, "despite more than two decades of battles for equal opportunity, women still earn less than men in almost every field. . . " (40). For example, female lawyers and judges earned 70% of the salaries enjoyed by their male counterparts. For financial managers, the ratio was 67% for those in production jobs, 59% and for sales jobs, 58%. For many, these statistics are not surprising-but neither are they unique to the United States. Mincer (1985) shows both the persistent and the universal nature of wage gaps between male and female workers.
Responding to Pandemic Influenza in Hawaii
(University of Hawaii at Manoa, 2014-01-15) Nelson, Denise; Dator, Jim; Economics
Pandemics have arisen throughout history, and despite numerous present-day advances, the response of humanity to medical disaster has changed little. Major influenza outbreaks have appeared three times in the past century, the most dangerous being the Spanish Influenza pandemic in 1918. Within two years over a billion people, approximately halfofthe world's population at the time had been infected, resulting in over forty million deaths. Less than a century later, Avian Influenza has reappeared in the global arena, and the global community must respond.
Demand of Automobiles in Canada
(University of Hawaii at Manoa, 2014-01-15) Lee, Daniel; Economics
According to the report published in 1958 by the Senate Subcommittee on Antitrust and Monopoly (6), all together there are six major studies which have been made on the elasticity of demand for automobiles which utilize historical data. Among them, the studies by Suits (7) and Chow (2) were singled out for more detailed discussion in their report, prin cipally on the grounds that they are the two most recent analyses and the only studies incorporating post-World War II data.
Indicies of Socioeconomic Development their Evolution, Application, and Future
(University of Hawaii at Manoa, 2014-01-15) McCleery, Robert; Economics
In this paper, I hope to delineate the problems of measuring socio economic development, comment on the appropriateness of Gross National Product per Capita, the traditional and most commonly used measure, review the currently proposed alternatives to this index, and propose my own in a general form.
A Economic Model of Current Black Market with Applications to the Republic of Vietnam
(University of Hawaii at Manoa, 2014-01-15) Mardfin, Douglas; Economics
Since before World War II, the area then known as a part of French Indo-China and now known as the Republic of Vietnam, or South Vietnam, has been continuously embroiled in war. This small corner of Southeast Asia first felt the presence of man perhaps twelve thousand years ago. Since that time, many peoples have inhabited the land. By the first century A.D. , the area was controlled by Khmer people. About that time, the Indianized kingdom of Funan gained con trol or' the region and was a major power for perhaps five hundred years. There was trade and contact with China to the north. And until the tenth century A.D., when the Sinicized Vietnamese culture and people began pressing southward from North Vietnam (Tonkin) along the Indo-Chinese peninsula, the area was alternately under Indianized Champa and Khmer control. From 1257 to 1258, the Mongols of the Yuan dynasty from China invaded the central portion of Vietnam (Annam), and, at the beginning of the fifteenth century, the Chinese Ming dynasty ruled the Vietnamese for twenty-five years.
Hawaiian Airlines, Inc. and Aloha Airlines, Inc.: A Study of Predatory Behavior
(University of Hawaii at Manoa, 2014-01-15) Lee, Terrence; Economics
The purpose of this paper is to determine whether Hawaiian Airlines, Inc. behaved as a predator during the period 1968 to 1971.
The Lock-In Effect of Capital Gains Taxation some Microeconomic Formulations
(University of Hawaii at Manoa, 2014-01-15) Okamura, George; Economics
The personal income tax in the United States is, at best, an imperfect approximation of the "ideal" tax system regarding its neutrality, or benefical non-neutrality, in terms of equity, allocation, and stabilization influences. 'Thl..s paper will be an attempt to introduce an analytical system which will aid in clarifying one of the most controversial areas in modern tax policy - the preferential tax treatment of capital gains. In particular, the discussion will focus on the alleged "lock-in" effect on investable funds as a direct result of the existing capital gains tax.
A Survey of the Theory of Income Distribution
(University of Hawaii at Manoa, 2014-01-15) Okabayashi, Gary; Economics
Economic theory is generally divided into three main categories: (1) value, price and allocation theory, (2) factors of production and distributive shares, and (3) aggregative and monetary theory. This paper is a study of the second area -- the theory of income distribution.
Reassessment of the Need for a School of Law within the University of Hawaii System
(University of Hawaii at Manoa, 2014-01-15) Ojiri, Rene; Economics
In 1976, an evaluation committee !rom the American Bar Association told the University of Hawaii's School of Law it must move into permanent quarters by 1980 to keep its accreditation. However, the school which began in 1973 in temporary buildings still lacks a permanent home. The evaluation committee, headed by Dean James P. White of the University of Indiana Law School was more concerned about when a permanent law school building would be built than where it would be built.
Study of Factors Related to Dating Patterns in Hawaii
(University of Hawaii at Manoa, 2014-01-15) Ogata, Joy; Economics
The unique historical situation of Hawaii resulted in varied ethnic backgrounds, religions, and social and cultural values. These factors along with other factors included in previous studies made of dating on the main land US, are considered to be possible influences on dating patterns in Hawaii. This is an attempt to study and investigate the dating patterns of a sample of Hawaii's dating population.
Econometric Model of Tourism in Hawaii, a Cross Section Analysis
(University of Hawaii at Manoa, 2014-01-15) Hata Eleanor; Yorita, Jean; Economics
Tourism has been a rapidly growing industry throughout the entire postwar period with its expenditures rising from $6 million in 1946 to $186 million in 1963 with resultant income and tax benefits to the people of Hawaii. In comparison with the state's other top industries, the rate of growh of tourism has been by far the greatest as shown by these figures.
The Economics of Manganese Nodule Mining in Hawaii
(University of Hawaii at Manoa, 2014-01-15) Wright, Hollis; Economics
Manganese nodules are found on the ocean floor, most often at depth ranging from 10,000 to 20,000 feet. They are usually three to four inches long, of a brown-black color, and a spherical shape. Although the nodule usually has a nucleus of clay, a little less than one half consists of an assay of manganese, nickel, copper, and cobalt.
A Case of Direct Foreign Investment in New Industrialized Nation: The Hong Kong Experience
(University of Hawaii at Manoa, 2014-01-15) Woo, Chi Kwong; Yeh, Yeong Her; Economics
Foreign investment has always been vital to the economy of Hongkong. Actually, hongkong was founded by British traders in the nineteenth century. In the 1950's, the Chinese entrepreneurs who came from Mainland China helped convert Hongkong from an entrepot port to an industrial city. Later, American investors who came in the late 1960's were responsible for initiating the electronics industry, which has since then become a major component of Hongkong's export, in addition to the garments and textile industry. Hongkong is still depending on and will continue to rely on foreign investment for its success and economic prosperity. The United States, in particular, is vital to the economy of Hongkong, given its position as the leading importer of Hongkong's export.
Attitudes and Practices of 39 Families at Christmas Time
(University of Hawaii at Manoa, 2014-01-15) Wong, Phillis; Economics
The following research paper is presented as part of graduation requirements in the Honors Program at the University of Hawaii.
Consideration in the Theory of Economic Regulation
(University of Hawaii at Manoa, 2014-01-15) Tanimura, Robert; Economics
The search for a thesis topic is usually formadable. Being equiped only with a general knowledge of the mech anics of economic thought, it is often difficult to find a particular subject to study. My experience vtas no ex ception, it "vas a horrible struggle. After weeks of search ing and pondering, I was inspired to do something on economic regulation by a report submitted by the Office of the Legislative Auditor on the State's Public Utility Program. The audit argued convincingly for the deregulation of Hawaii's motor carrier industry, but was still largely ineffective in causing such a change. This paper, then, is my attempt to resolve these events v'iithin the concep- tual framework of the theory of economic regulation.
Export Performance of some Developing Asian Countries
(University of Hawaii at Manoa, 2014-01-15) Takuma, Thomas; Economics
In 1964, the United Nations Conference on Trade and Development convened to examine the prevailing trends in international trade and aid, and the consequences on the growth objectives for developing countries. Among the important issues raised by UNCTAD were as follows: 1) the trend towards external imbalance in the developing countries as a result of the disparity between the slow rate of growth of primary exports and the increasing demand for industry imports necessary for industrialization; 2) the need to expand the export of manufactures from developing countries, 3) the advantages of some form of regional cooperation; 4) a resolution calling for the establishment of a system of generalized non-reciprocal and non-discrimination trade preferences for the benefit of developing countries.
Money Talks: A Comparison of Economics and Psychology Students
(University of Hawaii at Manoa, 2014-01-15) Oyama, Elyse; Economics
The disciplines of Economics and Psychology share one objective in their experiments: predict real behavior. However, each field has its own method of achieving actual behavior in its participants, which is either through hypothetical or actual monetary incentives. Economists believe that the use of real money gives participants motivation to invest more thought into the experiments rather than make arbitrary decisions. On the other hand, Psychologists generally believe that using money distracts participants. Current literature also shows that there have been marked differences seen between economics and Psychology students. The experimenter utilized the Ultimatum Game with both types of students with the conditions of hypothetical and actual payoffs to see if there were any significant differences in behavior based on students' academic background, the payoff structure, or another factor.
A Economic Assessment of Biological Control of Miconia calvescens in Hawaii
(University of Hawaii at Manoa, 2014-01-15) Chock, Megan; Economics
Biocontrol, the introduction of organisms to control an unwanted species, has been cited as a powerful method to manage the invasive species Miconia calvescens in Hawaii. In addition to ecological advantages, biocontrol is often regarded as less costly than traditional methods despite the large initial investment. Currently, miconia in Hawaii is treated through aerial and manual operations, which cost over $1 million annually. Biocontrol for miconia in Hawaii began in 1997 and the search for more agents continues today. Although biocontrol for miconia has already begun, prior to May 2009 no assessment of its economic justifiability had been done. This research evaluates the present value of net benefits of miconia biocontrol in Hawaii. Cost data were gathered from scientists in charge of biocontrol programs. Benefits were defined as the cost-savings of current control methods. Two different biocontrol programs were modeled: control achieved by a single agent, and control achieved by a suite of agents. In addition, different dispersal rates and efficacies of biocontrol and two release dates were modeled. Because most costs of biocontrol are incurred before the release of a successful agent and the benefits are only realized post-release, each scenario was evaluated over a 50-year time horizon. The results indicate a positive present value of net benefits in all scenarios, ranging from $ 12.67 million to $36.19 million. Thus, biocontrol for miconia in Hawaii appears to be economically justifiable. This research should enable scientists, economists and policy makers to make informed decisions about the optimal management of Miconia calvescens in Hawaii.

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