Germany and Austria, neighbours of different size and with the same language, still have close economic bonds, but the combined effect of Austria joining the EU, the eastern opening and the EU's enlargement has made Austria grow increasingly separate from Germany. Since the early 1990s,...

In the early 1970s, E.F. Schumacher criticised western industrial countries in the face of emerging globalisation by using a term generated by Leopold Kohr: "Small is beautiful." Seen against the progressing enlargement of the EU we need to ask whether and to what extent small is still...

Aufbauend auf einem von Kaldor 1967 entwickelten Ansatz wird der Einfluss der Industrieproduktion auf das gesamtwirtschaftliche Wachstum untersucht. Eine Querschnittsregression mit Daten für 121 Länder bestätigt im Grundsatz Kaldors These, dass Wachstumsraten des Bruttoinlandsprodukts von...

The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...

The pressure on the Chinese government to appreciate the Chinese yuan is large. Since the start of the dollar's sustained depreciation in early 2002 the western industrialized countries including Japan argue that China's fixed peg is equivalent to a mercantilist trade policy. From the Chinese...