Uchenna N. Akpom, Albany State University
Charles Larry Allen, Lamar University
Jerry L. Crawford, Arkansas State University
B. J. Dooley, Louisiana State University, Eunice
Elizabeth (Bette) Harris, Univ. of Southwest Louisiana
Marshall J. Horton, LeTourneau University
Anisul M. Islam, University of Houston, Downtown
Francis A. Lees, St. John's University
Warren Matthews, Houston Baptist University
Allyn Needham, Floyd Durham & Associates, Ft. Worth
Oris L. Odom II, University of Texas, Tyler
Elizabeth L. Rankin, Centenary College
Bill D. Rickman, Fort Hays State University
 

Executive Committee
Jerry Crawford, Arkansas State University
Bill D. Rickman, Fort Hays State University
Donald I. Price, Lamar University

Wednesday, March 10, 1999
SWFAD Awards and Recognition Dinner

Friday, March 12, 1999
7:00 A.M. - 8:15 A.M.
Southwestern Society of Economists
Breakfast and Business Meeting
(Registered Members)

Business Meetings
Southwestern Society of Economists
Friday, March 12, 1999, 7:00 A.M.

SWFAD Board of Directors 1998-1999

Carl B. Montano   Waldo L. Born
President    President Elect/Program Chair
Lamar University   Eastern Illinois University

SWFAD Association Program Chairs
1998 - 1999

Waldo L. Born, Eastern Illinois University
Southwestern Society of Economists

SWFAD Association Secretary-Treasurers

Elizabeth L. Rankin, Centenary College
Southwestern Society of Economists
 

Thursday, March 11, 1999

8:30 a.m. - 10:00 a.m. (Thursday)

SESSION A:  THE ECONOMY AND LOVE OF MONEY

 Chair: Robert C. Hsu, Clark University

Discussants: Douglas S. Bible, Louisiana State University in Shreveport
Robert S. Franz, University of Southwestern Louisiana
Lonnie R. Vandeveer, Louisiana State University

Risky Business: The Effects of Casino Gaming on the Louisiana Economy
Barbara J. Davis, Centenary College
Helen B. Mason, Centenary College

Wheels of Fortune
Oris L. Odom II, The University of Texas at Tyler
James D. Harriss, Mt. Olive College

The Gold Market in Today’s Economy
Ronald C. Kettering, Columbus State University
 

8:30 a.m. - 10:00 a.m. (Thursday)

SESSION B:  LAW AND ECONOMICS

 Chair: Dan Nuckols, Austin College

Discussants: Donald R. Andrews, Southern University
  Will G. Heath, University of Southwestern Louisiana
  David J. Hoaas, Centenary College
 
Compensation in a Divorce for Investments in a Spouse’s Human Capital
Paul Kochanowski, Indiana University - South Bend

Earnings Based Approach to Determining Hedonic Damages
C. Norfleet Jefferies, Jackson State University

Lost Earning Capacity: A Comparison of the Gamboa Tables, LPE, and the Department of Labor Tables
Allyn Needham, Floyd Durham & Associates, L.L.C., Fort Worth

 
8:30 a.m. - 10:00 a.m. (Thursday)

SESSION C:  INTERNATIONAL ECONOMICS: THE ASIAN SITUATION

 Chair: Michael N. Wolfe, University of Houston, Clear Lake

Discussants: Bette Harris, University of Southwestern Louisiana
  M. Moosa Khan, Prarie View A&M University
  Fatma Abdel-Raouf, Langston University
 
The Estimation and Policy Implications of the Underground Economy: The Case for Bangladesh
M. Kabir Hassan, University of New Orleans

Causality Within the PPP Relationship: Some Empirical Tests for Bangladesh
Anisul M. Islam, University of Houston, Downtown

Did the Bubble Burst? Another Look at the Asian Currency Crisis
Syed Ahmed, Red Deer College
 

10:00 a.m. - 10:30 a.m. (Thursday)

SWFAD Coffee Break
 

10:30 a.m. - 12:00 a.m. (Thursday)

SESSION A:  ECONOMIC FORECASTING PROCESSES

 Chair: Elizabeth L. Rankin, Centenary College

Discussants: Waldo L. Born, Eastern Illinois University
  Allyn Needham, Floyd Durham & Associates, L.L.C., Fort Worth
  Alvin R. Schupp, Louisiana State University

Safety and Security from Crime and Residential Property Values, A Geographic Information Systems Application
Douglas S. Bible, Louisiana State University in Shreveport
Chengho Hsieh, Louisiana State University in Shreveport

Should Hispanics and Non-Hispanic Whites be combined Into One Analysis Sample?
Robert S. Franz, University of Southwestern Louisiana
Charles N. Weaver, St. Mary’s University-San Antonio

Spatial Economic Analysis of a Rural Land Market
Lonnie R. Vandeveer, Louisiana State University
Steven A. Henning, Louisiana State University
Chunxiao Li, Louisiana State University
Gary A. Kennedy, Louisiana Tech University
 

10:30 a.m. - 12:00 a.m. (Thursday)

SESSION B:  ECONOMICS AND FACTORS IN EDUCATION

 Chair: James D. Harriss, Mt. Olive College

Discussants: Paul Kochanowski, Indiana University - South Bend
  C. Norfleet Jefferies, Jackson State University
  Barbara J. Davis, Centenary College

The Impact of Experimental Activities in Strengthening Economic Education at an HBCUs
Donald R. Andrews, Southern University
Krishna Agnihotri, Southern University
Ross Daniel, Southern University
Ashagre Yigletu, Southern University

Communications Skills and the Economics Major: Some Lessons Learned
David J. Hoaas, Centenary College
 
College Choice and Students’ Expectations
Will G. Heath, University of Southwestern Louisiana
John Tanner, University of Southwestern Louisiana
Bette Harris, University of Southwestern Louisiana
 

10:30 a.m. - 12:00 a.m. (Thursday)

SESSION C:  FINANCIAL MARKETS EFFICIENCY

 Chair: Gobind Bhagia, Paine College

Discussants: Ronald C. Kettering, Columbus State University
  Uchenna N. Akpom, Albany State University
  Helen B. Mason, Centenary College

Investor Sentiment and Stock Prices
Jimmy D. Moss, Lamar University
Gisele K. Moss, Lamar University

Permanent & Transitory Components of Stock Prices: Are Stock Prices Predictable in a Multivariate Setting?
Ali F. Darrat, Louisiana Tech University

Inter-temporal Causality Between S&P 500 Spot and Future Prices: Evidence from Cointergration and Error Correction Models
David L. Williams, Louisiana Tech University
 

1:30 p.m. - 3:00 p.m. (Thursday)

SESSION A: PANEL; BANGLADESH INTEGRATION IN THE WORLD
   ECONOMY

 Chair:  Anisul M. Islam, University of Houston, Downtown

Discussants:  Kabir Hassan, University of New Orleans
   Asghar Nazemzadeh, University of Houston-Downtown
   Khasruzzaman Choudhury, Southern University
   Golam Mohammad, University of Houston-Clear Lake

Relative Contribution of Exports, Remittances, Foreign Direct Investment and Exchange Rate to Economic Growth and Employment in Bangladesh
Matiur Rahman, McNeese State University
Muhammad Mustafa, South Carolina State University

Exports and Economic Growth in Bangladesh
Syed M. Ahmed, Red Deer College

An Analysis of Industrial Policy and Direct Foreign Investment in Bangladesh
Wali I. Mondal, Henderson State University

An Economic Estimation of the Import Demand Function for Bangladesh
Anisul M. Islam, University of Houston-Downtown
Syed M. Ahmed, Red Deer College
Kabir Hassan, University of New Orleans
 

1:30 p.m. - 3:00 p.m. (Thursday)

SESSION B:  MACROECONOMIC FACTORS

 Chair: Warren Matthews, Houston Baptist University
 
Discussants: Francis A. Lees, St. John’s University
Randall K. Russell, Southwestern Oklahoma State University
  Gobind Bhagia, Paine College

Choice of a Suitable Scale Variable in the Nominal Stock Adjustment Process of Money Demand
Gaurango Banerjee, University of Texas at Brownsville

The Determinants of General Wage Inflation: A Garch Model
Yu Hsing, Southestern Louisiana University

Reporting Comprehensive Income
James H. Thompson, Oklahoma City University
Thomas G. Hodge, Northeast Louisiana University
 
 

1:30 p.m. - 3:00 p.m. (Thursday)

SESSION C:  A POT-POURRI OF FINANCIAL ECONOMICS ISSUES

 Chair: Uchenna N. Akpom, Albany State University

Discussants: Douglas S. Bible, Louisiana State University in Shreveport
  Elbert V. Bowden, Appalachian State University
  Robert C. Hsu, Clark University
 

A Capital Asset Pricing Model Approach to Evaluating Real Estate Investments
Bruce C. Payne, Barry University

Economic Organization: An Accounting/Economic Theoretical Model
Lawrence C. Smith, Jr., Louisiana Tech University
L. Murphy Smith, Texas A&M University

Statistical Properties of Daily Exchange Rates When They are too Volatile to be Accounted for by Subsequent Changes in Fundamentals
Thanomsak Suwannoi, Louisiana Tech University

3:00 p.m. - 3:30 p.m. (Thursday)

SWFAD Coffee Break

3:30 p.m. - 5:00 p.m. (Thursday)

SESSION A: FINANCIAL ECONOMICS OF INSTITUTIONAL FUNDS

 Chair: Wali I. Mondal, Henderson State University

Discussants: Gaurango Banerjee, University of Texas at Brownsville
  Jimmy D. Moss, Lamar University
David L. Williams, Louisiana Tech University

The Performance of Disciplined Optimal Portfolios of the CREF Accounts in 1998
Geungu Yu, Jackson State University

Variable Annuities: The Triumph of Irrational Exuberance?
Donald E. Fischer, University of Texas at Tyler
Oris L. Odom II, University of Texas at Tyler

Tax-Managed Funds Versus Variable Annuities
Ronald C. Kettering, Columbus State University
 

3:30 p.m. - 5:00 p.m. (Thursday)

SESSION B:  MACROECONOMIC ISSUES

 Chair: N. R. Vasudeva Murthy, Creighton University

Discussants: Dan Nuckols, Austin College
  Bruce C. Payne, Barry University
Randall K. Russell, Southwestern Oklahoma State University

The Joyless Economy Revisited
Barrie Richardson, Centenary College
Craig Richardson, Salem College

Impacts of Stock Market Fluctuations on Consumption Spending
Yu Hsing, Southeastern Louisiana University
Jo-Anne Gibson, Southeastern Louisiana University
Ralph W. Lange, Southeastern Louisiana University
Henry Thomasson, Southeastern Louisiana University

Stock Returns, Inflation and the Macroeconomy: The long- and short-run Dynamics
Marc Chopin, Louisiana Tech University
Maosen Zhong,. Louisiana Tech University
 

5:30 p.m. - 6:15 p.m. (Thursday)

SSE EXECUTIVE COMMITTEE MEETING

Presiding:   Carl B. Montano, President SSE, Lamar University
  All officers and the three most recent past presidents should attend

Friday, March 12, 1999

7:00 a.m. - 8:15 a.m. (Friday)

ANNUAL BUSINESS MEETING AND BREAKFAST
Open to all registered members of SSE

Presiding: Carl B. Montano, Lamar University

8:30 a.m. - 10:00 a.m. (Friday)

SESSION A: GROWTH AND ECONOMIC DEVELOPMENT

 Chair: Jerry L. Crawford, Arkansas State University

Discussants: Matiur Rahman, McNeese State University
  Lonnie R. Vandeveer, Louisiana State University
  Edward M. McNertney, Texas Christian University

U.S./Mexico Border Economic Development and the Informal Sector in Mexico
George Petrie, The University of Texas - Pan American
Cynthia J. Brown, The University of Texas - Pan American
Jose A. Pagan, The University of Texas - Pan American

A Strategy for Targeting Economic Development Within A Corridor of Opportunity
Waldo L. Born, Eastern Illinois University

An Empirical Investigation of the Conditional Convergence Hypothesis Across Developing Economies: New Evidence
N. R. Vasudeva Murthy, Creighton University
 

8:30 a.m. - 10:00 a.m. (Friday)

SESSION B:  ISSUES IN AGRICULTURAL ECONOMICS

 Chair: Allyn Needham, Floyd Durham & Associates, L.L.C., Fort Worth

Discussants: Barrie Richardson, Centenary College
  Carl B. Montano, Lamar University
  Lynn E. Dallenbarger, Louisiana State University

Ukraine’s Farm Reorganization After Land Reform
Ching Y. Chao, Jackson State University

Handler Reactions to Potential Country-of-Origin Labeling of Fresh Beef
Alvin Schupp, Louisiana State University

Implications of the FAIR Act on the Risk-Return Relationship of Southwest Louisiana Rice Producers
Gary A. Kennedy, Louisiana Tech University
Steven A. Henning, Louisiana State University
Lonnie R. Vandeveer, Louisiana State University
Hector O. Zapata, Louisiana State University
8:30 a.m. - 10:00 a.m. (Friday)

SESSION C:  A POT-POURRI OF ECONOMIC THOUGHT

 Chair: Donald I. Price, Lamar University

Discussants: Yu Hsing, Southeastern Louisiana University
  Charles M. Becker, Texas Christian University
  David J. Hoaas, Centenary College

The Aristotlean Foundations of Colonial Spanish Thought
Adolfo Benavides, Texas A&M University

Impact of Major Economic Contractions on Public Policy Affecting Price Flexibility
Larry Allen, Lamar University

An Investigation of the Retention of Economic Knowledge of Students at the College Level
Charles J. Ellard, University of Texas-Pan American
 

10:00 a.m. - 10:30 a.m.

SWFAD Coffee Break
 

10:30 a.m. - 12:00 a.m. (Friday)

SESSION A: PANEL; ANALYSIS OF ECONOMIC VALUE OF CUSTOMER
   RATING(S)

 Chair: B. J. Dooley, Louisiana State University at Eunice

Discussants: Frederick R. Blackburn, New Mexico State University at Carlsbad
  B. J. Dooley, Louisiana State University at Eunice
  Fred N. Landry, Louisiana State University at Eunice

The Economic Value of Positive Customer Satisfaction to Business Firms - An Overview
B. J. Dooley, Louisiana State University at Eunice

An Economic Analysis of Customer Satisfaction to the Food Service Industry
Fred N. Landry, Louisiana State University at Eunice

A Case Study of the Economic Value of Customer Satisfaction to the Bennigan Chain
Frederick R. Blackburn, New Mexico State University at Carlsbad

10:30 a.m. - 12:00 a.m. (Friday)

SESSION B:  LABOR ECONOMICS ISSUES

 Chair: Bill D. Rickman, Fort Hays State University

Discussants: Adolfo Benavides, Texas A&M University
Larry Allen, Lamar University
  Charles J. Ellard, University of Texas-Pan American

The Price of Productivity: Loyalty in the 1990s
James T. Schultz, Embry-Riddle Aeronautical University
Marian C. Schultz, University of West Florida

The Social Cost of Unemployment
M. A. Soliman, Prairie View A&M University

The Determinants of Job Satisfaction of Male and Female Business Faculty
Elizabeth L. Rankin, Centenary College
Harold R. Christensen, Centenary College
C. Nicholas McKinney, Texas A&M University

1:30 p.m. - 3:00 p.m. (Friday)

SESSION A: PANEL; ETHICS AMONG FINANCIAL INSTITUTIONS

 Chair: Arthur E. Parry, LeTourneau University

Panel Topic:  Agents Without Principles

Panelists: Marshall J. Horton, LeTourneau University
  James Rech, Watson-Wyatt Worldwide, Dallas
  Francis A. Lees, St. John’s University
  Ronald C. Kettering, Columbus State University
  Sankar Sundarrajan, Tarleton State University

1:30 p.m. - 3:00 p.m. (Friday)

SESSION B:  ISSUES IN INTERNATIONAL TRADE AND FINANCE

 Chair: John S. Kaminarides, Arkansas State University

Discussants: Wali I. Mondal, Henderson State University
  George Petrie, The University of Texas-Pan American
Uchenna N. Akpom, Albany State University
 
The Impact of Regional Trading Blocs Among Developed Countries on the Developing Nations
Ashagre A. Yigletu, Southern University and A&M College

Will the Euro Redirect Foreign Direct Investment?
Francis A. Lees, St. Johns University

The Chase Manhattan Corporation Competitive Outlook Past Mergers and Associated Corporate Restructuring in the "New Era of World Banking"
Charles M. Becker, Texas Christian University
Edward M. McNertney, Texas Christian University
 

1:30 p.m. - 3:00 p.m. (Friday)

SESSION C:  CONSUMER ECONOMICS ISSUES

 Chair: Akbar Marvasti, University of Houston, Downtown

Discussants: Elizabeth L. Rankin, Centenary College
Oris L. Odom II, The University of Texas at Tyler
  Gary A. Kennedy, Louisiana Tech University

Consumer Expenditures in Oklahoma
Fatma Abdel-Raouf, Langston University
 
Subsidizing the Performing Arts: Profit, Loss and Residual Demand
Richard M. Vogel, State Univ. of New York at Farmingdale

Actual Versus Desired Seafood Consumption in Louisiana
Lynn E. Dallenbarger, Louisiana State University

 3:00 p.m. - 3:30 p.m. (Friday)

SWFAD Coffee Break
 

3:30 p.m. - 5:00 p.m. (Friday)

SESSION A: GROWTH AND CHANGE

 Chair: Carl B. Montano, Lamar University

Discussants: Waldo L. Born, Eastern Illinois University
  N. R. Vasudeva Murthy, Creighton University
  Frederick R. Blackburn, New Mexico State University at Carlsbad

 1999 Irwin/McGraw-Hill Distinguished Paper Award Winner

Financial Development and Economic Growth in Japan: Revisited
Benjamin S. Cheng, Southern University
Robert C. Hsu, Clark University

A Study of Risk-Return Characteristics of Companies Experiencing High Growth Rates in Periods of Economic Downturn
Bruce C. Payne, University of Southwestern Louisiana

The Performance of Small Business in Technology-Intensive Industries
Hubert Hieke, Arkansas State University (University of Mannheim, Germany)
 

3:30 p.m. - 5:00 p.m. (Friday)

SESSION B:  INDUSTRIAL ECONOMICS

 Chair: Sankar Sundarrajan, Tarleton State University

Discussants: M. A. Soliman, Prairie View A&M University
  Arthur E. Parry, LeTourneau University
  Ashagre A. Yigletu, Southern University and A&M College

Scale Economies in the Gas Distribution Utility Industry
Daniel R. Hollas, University of Texas at San Antonio

Merger Classification and Performance in the Pharmaceutical Industry
Anne Macy, West Texas A&M University
Neil Terry, West Texas A&M University

An Evaluation of the Earnings Quality of Electric Utilities Located in the Central United States on the Eve of Deregulation
Edward M. McNertney, Texas Christian University
Charles M. Becker, Texas Christian University
 
3:30 p.m. - 5:00 p.m. (Friday)

SESSION C:  ECONOMIC ISSUES CONCERNING HEALTH AND SOCIETY

 Chair: Marshall J. Horton, LeTourneau University

Discussants: Fatma Abdel-Raouf, Langston University
  Warren Matthews, Houston Baptist University
  Richard M. Vogel, State Univ. of New York at Farmingdale
 
An Analysis of Teen Smoking Demand in Southeast Texas
Donald I. Price, Lamar University
Huei Lee, Lamar University
Bradley W. Mayer, Lamar University
Gary A. Moore, Lamar University

Some Issues to Consider in the Hospital Valuation-Acquisition Process
James D. Harriss, Mt. Olive College
Oris L. Odom, University of Texas at Tyler

The State of American Families and Related Public Policy
Ellen D. Cook, University of Southwestern Louisiana
L. Murphy Smith, Texas A&M University
Lawrence C. Smith, Jr., Louisiana Tech University

 Saturday, March 13, 1999

8:30 a.m. - 10:00 a.m. (Saturday)

SESSION A:  INSTITUTIONAL AND MACROECONOMIC ISSUES

 Chair: Waldo L. Born, Easten Illinois University

Discussants: Reynolds Griffith, Stephen F. Austin State University
  Eugene Williams, McMurray University
 
The Possible Effects of the Year 2000 Problem on the U.S. Economy
Eugene Williams, McMurray University
Jim Wollscheid, McMurray University
David Williams, Louisiana Tech University

Will the Banking System Survive the Year 2000 Problem
Reynolds Griffith, Stephen F. Austin State University

 
8:30 a.m. - 10:00 a.m. (Saturday)

SESSION B:  INTERNATIONAL ECONOMICS

 Chair: Elizabeth L. Rankin, Centenary College

Discussants: Matiur Rahman, McNeese State University
Hubert Hieke, Arkansas State University (University of Mannheim,
Germany)
  Bala Maniam, Sam Houston State University

Structural Economic Change: The German Experience
Hubert Hieke, Arkansas State University (University of Mannheim, Germany)
 
Malaysia’s 1997-1998 Financial and Political Crisis
Bala Maniam, Sam Houston State University
Leroy Ashorn, Sam Houston State University

Indonesian Stock and Foreign Exchange Market Long-Run Linkages and Causality: Evidence from Weekly Data
Matiur Rahman, McNeese State University
Muhammad Mustafa, South Carolina State University
Mahmudur Rahman, University of Southern Maine
 
8:30 a.m. - 10:00 a.m. (Saturday)

SESSION C:  THERE IS NO SESSION C.

10:15 a.m. - 11:45 a.m. (Saturday)

SESSION A:  THERE IS NO SESSION A.
 

10:15 a.m. - 11:45 a.m. (Saturday)

SESSION B:  THERE IS NO SESSION B.