I evaluate the welfare effects of the 1997 merger between Boeing and McDonnell Douglas in the medium-sized, wide-bodied aircraft industry. I develop an empirical model of multi-product firms, allowing for both learning-by-doing and product innovation in a dynamic game to quantify merger...

This paper illustrates how trust in management can be consolidated through the order and mode of application of enforcement measures (negotiating and punitive enforcement measures) which are employed in facilitating and maximising compliance with rules. “Whilst negotiating strategies are...

The Republic of Bulgaria has been a Member State of the European Union since 2007. Its economic development has been framed by a Currency Board Arrangement (binding the national currency to the euro) since 1997. Recent development is characterised by slow economic growth. Preliminary GDP data...

Policy implications of complexity economics (CE) are investigated. CE deals with “Complex Adaptive (Economic) Systems” [CA(E)S], generally characterized by mechanisms and properties such as “emergence” of structure or some capacity of “self-organization”. With this, CE has manifold...

The paper presents the analysis of recent developments of Schumpeterian theory of entrepreneurship and innovation in light of evolutionary economics.

The finding of nonlinear cointegration between Asian exchange rates with the corresponding relatives prices and aggregate price levels based on Breitung’s (2001) nonparametric rank tests reinforces previous validations of Purchasing Power Parity by the parametric testing procedures. Hence, in...

Theoretical issues of the formation of the mechanism of public-private partnership (PPP) in the system of higher education of Ukraine are studied. The role of higher educational institutions in the process of Ukraine’s economy transformations, the prospects of their cooperation with the...

The objective of this paper is to highlight the idea according to wish the current misery of the DRC would be mainly dependent on the debt crisis of the years 1970-1980. To analyze this problem, the econometric approach was privileged and more precisely the cointegration. By the cointegration,...

The aim of this paper is to empirically examine the relationship between saving and investment for 6 Middle East and North African Countries for the period 1980-2008. To this end, we use panel cointegration analysis and Error Correction Model techniques. The long run estimation reveals causality...

In an industry where regulated firms interact with unregulated suppliers, we investigate the welfare effects of a merger between regulated firms when cost synergies are uncertain before the merger and their realization becomes private information of the merged firm. The optimal merger policy...