My prospect(u)s

So I finally turned in my prospectus a few weeks ago, and due to popular demand I've posted the more relevant parts of it below. I'm very excited to research this topic. Practically everyone I know has chosen a topic they don't like, so I'm fortunate I can do what I want and still fulfill the requirements. In other news, I have some law school prospects I need to apply to, namely Georgetown and Cornell by November 2nd. My personal statement relates to the thesis. I have unintentionally killed two birds with one stone with this post. Yeah! (And kudos me for using a cliche.)

First, the thesis will investigate what characteristics define a transitioning or developed economy. By researching the various methods of evaluating the level of economic development a country has, I hope to identify specific characteristics unique to developing/transitioning economies, and their developed counterparts. For this part of the thesis, I will look at what institutions or government policies are required to foster economic growth. Some intended research points will include economic freedom (as ranked by various international organizations), transparency and corruption, tax systems, and guarantees of private property rights.

Following this preliminary research, I will use data from various governmental and non-government agencies to conduct simple regressions to identify trends within suspected economic indicators. I hypothesize that minimal governmental regulation, except through the protection of private property, creates a foundation upon which developing economies can effectively transition into market economies. Using this data, I hope to statistically identify these processes and regulations.

To test the hypothesis that government regulation hinders growth, I will see if my findings apply to economies that have undergone or are currently undergoing significant economic growth. Potential economies of interest include: China and Hong Kong, the Former Soviet Union and Eastern Europe, India, and Vietnam. By investigating the methods used in the aforementioned areas to stimulate growth, I hope to see if my data and analysis done earlier in the research process apply to real life transition scenarios.

Finally, I would like to see if the economic and social factors I research earlier in the project may be applied to problems the world faces today. Of course, I cannot implement these changes, but I would to see how my research applies to two issues that interest me. First, I would like to apply my results to the economies of Native American tribes in the United States. Some Native American tribes still resist private land ownership which results in a lack of available collateral to spur investment within the tribe. I am interested if any economic factors are absent with Native American tribes which are preventing economic growth. In addition, I would like to see what factors helped certain specially administered regions in China produce such incredible growth and how those economic principles could be applied elsewhere.