Papers by Sumner La Croix
A lost decade for Japanese corporate governance reform? What has changed, what hasn’t, and why CURTIS J . MILHAUPT
Cliometric Contributions to Australia’s Economic History
Springer eBooks, 2024
Economic Reform and Opening in China
Taiwan's Involvement in Jiangsu Province: Some Evidence from Joint-Venture Case Studies
Department of Economics, University of Hawaii-Mānoa Fall 2010 Semester Econ 610: Economic Development
New challenges to the global trading system
Adjustment to globalization in the Asia-Pacific region, 2007
Direct Foreign Investment in China: An Introduction
Nowhere in the world does the prospect of economic growth and prosperity seem brighter than in th... more Nowhere in the world does the prospect of economic growth and prosperity seem brighter than in the Asia-Pacific region. Except for a few cases, the region continues to boom at a healthy -- and, in some cases, phenomenal -- rate in the early 1990s, even while the rest of the ...
The very short tenure of foreign players in Japanese professional baseball, 1951–2004
Edward Elgar Publishing eBooks, Aug 26, 2016
Teams in Japan’s two professional baseball leagues began to add foreign players to their rosters ... more Teams in Japan’s two professional baseball leagues began to add foreign players to their rosters in the early 1950s, with the average number of foreign players per team reaching 5.79 in 2004. One reason for teams’ increased use of foreign players was that foreign hitters substantially outperformed Japanese hitters. This was due in part to binding roster caps on the number of foreign players per team. High performance was coupled with a very short tenure, with median tenure varying between one and two seasons between 1958 and 2004. We find that foreign players were hired either near the beginning or the end of their careers, with the median age of a foreign player exceeding 30 years. Our analysis shows that Japanese teams used foreign players as a “quick fix” to fill important positions in their starting line-ups. Over time, as US and Japanese markets for baseball players changed and became more integrated with others, the characteristics, tenure, and performance of foreign players in Japan also changed. We use a sample with all foreign baseball players who played one season or more in Japan to test hypotheses regarding how changes in the player market would affect baseball players’ age, tenure, and batting performance.
Douglass North and Cliometrics
Springer eBooks, 2019
Marketing, Price Discrimination, and Welfare
Southern Economic Journal, 1983
The challenge of policy in the era of globalization
Taylor & Francis eBooks, Feb 16, 2010
Outlying Areas
Historical Statistics of the United States: Millennial Edition Online, Jan 29, 2010
Challenges to the Global Trading System: Adjustment to Globalization in the Asia-Pacific Region
ASEAN economic bulletin, 2012
... Another look at the issues 83 Erlinda M. Medalla and Dorothea C. Lazaro 8 What's new... more ... Another look at the issues 83 Erlinda M. Medalla and Dorothea C. Lazaro 8 What's new about outsourcing ... Fong Academic Perspectives 211 20 Adverse trends in trade negotiations 212 Peter Drysdale 21 Sustaining the multilateral trading system 215 Hugh Patrick 22 Adjustment ...
Does Versatility Matter in Match-Play Sports? Evidence from Sumo Wrestling
RePEc: Research Papers in Economics, Mar 1, 2014
In match-play sports, the best players seem to be both versatile and unpredictable in their use o... more In match-play sports, the best players seem to be both versatile and unpredictable in their use of techniques during play. Our analysis extends empirical work on player versatility and unpredictability to the Japanese sport of sumo wrestling. While earlier studies of tennis serves and football penalty kicks were motivated by game-theoretic analysis of choices made by players to start a match, our study is motivated by labor market theories that tie the success of workers to their portfolio of skills and its application to particular situations. We analyze panel data on tournament records of top sumo wrestlers participating in Japan’s grand sumo tournaments over the 1995-2004 period to test whether players with better physical attributes and a balanced, unpredictable portfolio of winning techniques are more likely to win matches. Our econometric results show that better physical attributes, a diverse portfolio of techniques to finish a match, and unpredictable use of techniques are all associated with more wins per tournament.
University of Hawaii Press eBooks, Oct 31, 2020
RePEc: Research Papers in Economics, Apr 1, 2020
Great Britain established the colony of South Australia (SA) in 1834, requiring that revenues fro... more Great Britain established the colony of South Australia (SA) in 1834, requiring that revenues from colonial land sales be used to subsidize passage for emigrants to SA. Their immigration contract required the SA government to provide emigrants unable to find private sector work with employment on public works. We use new data on the compensation of relief workers and private sector workers to examine how the SA unemployment system functioned before and after a major economic crisis began in August 1840. We conclude that the unemployment system provided highly compensated relief employment to a small number of migrants prior to the crisis. As the number of migrants claiming relief employment soared between August 1840 and October 1841, the government drastically cut relief compensation. The cuts occurred in tandem with the release of newly surveyed rural lands, which together provided incentives and opportunities for workers to move to rural areas to seek employment. Finally, a comparison of the SA employment relief program with a temporary employment relief program in New South Wales (NSW) shows that the NSW program neither guaranteed relief employment nor provided jobs for all assisted migrants without work in NSW during the 1843-1845 period.
Japan's Shift From Process to Product Patents in the Pharmaceutical Industry: An Event Study of the Impact on Japanese Firms
RePEc: Research Papers in Economics, 1991
ABSTRACT In 1975, Japan expanded the scope of its patent law by introducing product patents for n... more ABSTRACT In 1975, Japan expanded the scope of its patent law by introducing product patents for newly developed chemical and pharmaceutical products. The authors use rate-of-return data from the Tokyo Stock Exchange for Japanese pharmaceutical companies to examine the impact of the change in the patent law. Their empirical findings indicate that the passage of the new patent law induced an excess return of approximately 26 percent to a portfolio of large pharmaceutical companies. Companies with R&D programs specializing in new product development experienced large gains, while companies with R&D programs specializing in imitative process patents experienced no gains. Copyright 1995 by Oxford University Press.
Understanding the Gains to Capitalists from Colonization: Lessons from Robert E. Lucas, Jr., Karl Marx and Edward Gibbon Wakefield
RePEc: Research Papers in Economics, 2020
Britain after the Napoleonic wars saw the rise of colonial reformers, such as Edward Wakefield, w... more Britain after the Napoleonic wars saw the rise of colonial reformers, such as Edward Wakefield, who had extensive influence on British colonial policy. A version of Wakefield’s “System of Colonization” became the basis for legislation establishing the South Australia colony in 1834 and the New Zealand colony in 1840. We use extended versions of Robert Lucas’s 1990 model of coordinated colonial investment to show how Wakefield’s institutions were designed to work. We also show that the critique of Wakefield’s system by Karl Marx in Das Kapital closely follows Lucas’s analysis of colonial institutions.
Did Speculation in Land Pay Off for British Investors? Buying and Selecting Land in South Australia, 1835-1850
RePEc: Research Papers in Economics, Aug 1, 2018
In 1834, Britain’s Parliament passed the South Australia Act establishing South Australia as a co... more In 1834, Britain’s Parliament passed the South Australia Act establishing South Australia as a colony. By December 1835, 130 British investors purchased 437 priority land orders (PLO) at £81 per order; each PLO holder could select a one-acre surveyed lot in the capital city of Adelaide and a block of 80 acres of surveyed country land. In the morning of March 23, 1837, PLO investors participated in a lottery that randomized the order of selection of city lots; in the afternoon they selected 437 lots from 1,000 available lots. One week later, all remaining lots were sold sequentially by lot number at auction. We investigate whether initial PLO selectors choose the most valuable lots and whether investors who paid the highest prices at auction choose the most valuable of the remaining lots. We find that those who selected early and those who paid the highest prices at auction tended to choose lots that yielded higher market prices in 1838, 1839, 1849 and 1850 and higher assessed values in 1849. We also find that the annual rate of return on city lots sold in 1849/1850 averaged 17.37 percent, much higher than the average rate of return to British empire investment later in the nineteenth century.
The Impact of Same-Sex Marriage on HawaiÔiÕs Economy and Government
RePEc: Research Papers in Economics, Feb 1, 2013
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Papers by Sumner La Croix