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Connel Fullenkamp

Professor of the Practice of Economics
Economics
Box 90097, Durham, NC 27708-0097
329F Social Sciences, Box 90097, Durham, NC 27708

Selected Publications


The price is not right

Journal Article Frontiers in Climate · January 1, 2023 The 2015 Paris Agreement requires all nations to combat climate change and to adapt to its effects. Countries promise to reduce their greenhouse gas (GHG) emissions through their Nationally Determined Contributions. Pledges to reduce emissions, however, ha ... Full text Cite

Financing conservation by valuing carbon services produced by wild animals.

Journal Article Proceedings of the National Academy of Sciences of the United States of America · May 2022 Filling the global biodiversity financing gap will require significant investments from financial markets, which demand credible valuations of ecosystem services and natural capital. However, current valuation approaches discourage investment in conservati ... Full text Cite

Toward a Nature-Based Economy

Journal Article Frontiers in Climate · April 15, 2022 Humanity faces a dual threat to its existence: climate change and biodiversity loss. The two risks are linked through human activity and an economic system that promotes growth at the expense of nature. Creating a nature-based economy can mitigate the dual ... Full text Cite

The Value of Nature to Our Health and Economic Well-Being: A Framework with Application to Elephants and Whales

Conference Springer Proceedings in Business and Economics · January 1, 2022 We develop a framework for natural resource valuation that directly addresses the fundamental collective action problem in environmental protection. Our framework uses the lessons of behavioral economics to create values that individual decision makers fin ... Full text Cite

The state of finance in fragile states

Chapter · January 1, 2021 This chapter describes the state of financial development in fragile states. Our analysis primarily relies on indicators from the World Bank Global Financial Development Database, which have been used extensively in the literature to capture the degree to ... Full text Cite

Do financial flows make a differencein fragile states?

Chapter · January 1, 2021 A rising number of people is living in fragile countries whose weak institutions fail to deliver on decent work and poverty reduction. The chapter discusses to what extent external financial flows, such as remittances, foreign direct investment or official ... Full text Cite

On Valuing Nature-Based Solutions to Climate Change: A Framework with Application to Elephants and Whales

Journal Article Economic Research Initiatives at Duke (ERID) Working Paper · August 2020 Cite

Is there a remittance trap?

Journal Article Finance and Development · September 1, 2018 Cite

Reconsidering bank capital regulation: a new combination of rules, regulators, and market discipline

Journal Article Journal of Economic Policy Reform · October 2, 2017 Despite revisions to bank capital standards, fundamental shortcomings remain: the rules for setting capital requirements need to be simpler, and resolution should be an essential part of the capital requirement framework.We propose a revised system of capi ... Full text Cite

Beyond the household

Journal Article Finance and Development · September 1, 2013 Cite

A framework for financial market development

Journal Article Journal of Economic Policy Reform · June 1, 2010 A framework for examining the process of financial market development is proposed. The framework is anchored in studying the incentives facing the key players in financial markets - borrowers, lenders, liquidity providers, and regulators - whose actions de ... Full text Cite

Development a wobbly crutch

Journal Article Finance and Development · December 1, 2009 Cite

Macroeconomic consequences of remittances

Other IMF Occasional Papers · May 5, 2008 Two main issues that are of interest to policymakers with regards to remittances include how to manage macroeconomic effects and how to harness development potential in developing countries. A global study of the comprehensive macroeconomic effects of remi ... Cite

The price is not right

Journal Article Frontiers in Climate · January 1, 2023 The 2015 Paris Agreement requires all nations to combat climate change and to adapt to its effects. Countries promise to reduce their greenhouse gas (GHG) emissions through their Nationally Determined Contributions. Pledges to reduce emissions, however, ha ... Full text Cite

Financing conservation by valuing carbon services produced by wild animals.

Journal Article Proceedings of the National Academy of Sciences of the United States of America · May 2022 Filling the global biodiversity financing gap will require significant investments from financial markets, which demand credible valuations of ecosystem services and natural capital. However, current valuation approaches discourage investment in conservati ... Full text Cite

Toward a Nature-Based Economy

Journal Article Frontiers in Climate · April 15, 2022 Humanity faces a dual threat to its existence: climate change and biodiversity loss. The two risks are linked through human activity and an economic system that promotes growth at the expense of nature. Creating a nature-based economy can mitigate the dual ... Full text Cite

The Value of Nature to Our Health and Economic Well-Being: A Framework with Application to Elephants and Whales

Conference Springer Proceedings in Business and Economics · January 1, 2022 We develop a framework for natural resource valuation that directly addresses the fundamental collective action problem in environmental protection. Our framework uses the lessons of behavioral economics to create values that individual decision makers fin ... Full text Cite

The state of finance in fragile states

Chapter · January 1, 2021 This chapter describes the state of financial development in fragile states. Our analysis primarily relies on indicators from the World Bank Global Financial Development Database, which have been used extensively in the literature to capture the degree to ... Full text Cite

Do financial flows make a differencein fragile states?

Chapter · January 1, 2021 A rising number of people is living in fragile countries whose weak institutions fail to deliver on decent work and poverty reduction. The chapter discusses to what extent external financial flows, such as remittances, foreign direct investment or official ... Full text Cite

On Valuing Nature-Based Solutions to Climate Change: A Framework with Application to Elephants and Whales

Journal Article Economic Research Initiatives at Duke (ERID) Working Paper · August 2020 Cite

Is there a remittance trap?

Journal Article Finance and Development · September 1, 2018 Cite

Reconsidering bank capital regulation: a new combination of rules, regulators, and market discipline

Journal Article Journal of Economic Policy Reform · October 2, 2017 Despite revisions to bank capital standards, fundamental shortcomings remain: the rules for setting capital requirements need to be simpler, and resolution should be an essential part of the capital requirement framework.We propose a revised system of capi ... Full text Cite

Beyond the household

Journal Article Finance and Development · September 1, 2013 Cite

A framework for financial market development

Journal Article Journal of Economic Policy Reform · June 1, 2010 A framework for examining the process of financial market development is proposed. The framework is anchored in studying the incentives facing the key players in financial markets - borrowers, lenders, liquidity providers, and regulators - whose actions de ... Full text Cite

Development a wobbly crutch

Journal Article Finance and Development · December 1, 2009 Cite

Macroeconomic consequences of remittances

Other IMF Occasional Papers · May 5, 2008 Two main issues that are of interest to policymakers with regards to remittances include how to manage macroeconomic effects and how to harness development potential in developing countries. A global study of the comprehensive macroeconomic effects of remi ... Cite

Are immigrant remittance flows a source of capital for development?

Journal Article IMF Staff Papers · July 6, 2005 There is a general presumption in the literature and among policymakers that immigrant remittances play the same role in economic development as foreign direct investment and other capital flows, but this is an open question. We develop a model of remittan ... Open Access Cite

Capital trading, stock trading, and the inflation tax on equity: A note

Journal Article Review of Economic Dynamics · January 1, 2003 Full text Open Access Cite

Assessing individual risk attitudes using field data from lottery games

Journal Article Review of Economics and Statistics · January 1, 2003 We use information from the television game show with the highest guaranteed average payoff in the United States, Hoosier Millionaire, to analyze risktaking in a high-stakes experiment. We characterize gambling decisions under alternative assumptions about ... Full text Open Access Cite

The optimal subsidy to private transfers under moral hazard

Journal Article IMF Staff Papers · December 1, 2002 Private income transfers are increasingly viewed as an alternative to government income transfers such as social insurance and foreign aid. This paper models the incentive effects of government-subsidized private transfers and finds that although there is ... Cite

Trust and efficiency

Journal Article Journal of Banking and Finance · August 23, 2002 Agency problems within the firm are a significant hindrance to efficiency. We propose trust between coworkers as a superior alternative to the standard tools used to mitigate agency problems: increased monitoring and incentive-based pay. We model trust as ... Full text Open Access Cite

Measuring and Managing Ethical Risk: Why Investing in Ethics Adds Value

Journal Article Journal of Banking and Finance · 2002 Cite

Managing ethical risk: How investing in ethics adds value

Journal Article Journal of Banking and Finance · January 1, 2002 In September 1999, the University of Notre Dame hosted a conference entitled "Measuring and Managing Ethical Risk: How Investing in Ethics Adds Value". The motivations for hosting the conference and the papers presented there are summarized. Several themes ... Full text Cite

Capital Trading, Stock Trading, and the Inflation Tax on Equity

Journal Article Review of Economic Dynamics · July 1, 2001 A market for used capital goods, or financial instruments that represent the ownership of the used capital goods, induces inflation taxes on wealth and on the nominal income flows that they provide. This paper explicitly introduces trading in either used c ... Full text Open Access Cite

The Stock Market Channel of Monetary Policy

Other IMF Working Paper · February 1999 Open Access Cite

The market value of family values

Journal Article Cato Journal · December 1, 1997 Open Access Cite