In recent years the Lao PDR's financial sector developed fast in terms of financial depth, intermediation and distribution. A developed financial sector is the basis for dynamic economic growth. Yet, unsustainable financial liberalization and growth poses risks to financial sector stability. The...

Previous studies were plagued with considerable problems when interpreting and empirically analysing Wagner's Law. Therefore, we initially present some kind of "pure theory of government's share" for a two-person society based on the pure theory of public and private goods as originally...