credit markets. Due to the financial imperfections, high-productivity firms - which are run by entrepreneurs - must be …

In the course of ordinary business, commercial banks frequently encounter entrepreneurs seeking loans for the purpose … of financing new or continuing projects. These entrepreneurs are frequently unrealistic, their perception having been … relationship between banks and possible optimistic entrepreneurs. We examine this capital market from the stand-point of economic …

to the taxation of entrepreneurs in transition economies. …

sustainability. We show that the dual democratic mechanism – rejection/support rewards (RSRs) for politicians and elections – can … achieve sustainability. RSRs stipulate that incumbents who are not re-elected, but obtain the majority support among young …

finances of its member states. Yet there is no clear definition of sustainability. The economist’s common use of the term …. In this study, we develop a concept of sustainability focusing on the controllability of public finances. In so doing, we … adopt the approach of the Maastricht Treaty, to assume sustainability as long as a country does not violate the double …

the sustainability of the current global imbalances. …

forward a notion of current account sustainability and compares the experience of three Latin American countries – Chile … sustainability indicators and discusses their usefulness in predicting external crises. …

This paper examines the consequences for the sustainability of fiscal policy of imposing restrictive ceilings on …