The tradition of gravity models is in the analysis of trade flows with market size and geographic or economic distance as core variables. Both these variables can be important determinants of FDI, too. However, when such models are used to explain FDI, there can be differences in the mode of...

Recent debates about the state of Japan's financial system focus on the weakness of Japanese banks. But, in the complex financial relations of an advanced economy bank finance cannot be seen separate from other forms of financial intermediation. Despite the reform efforts under the Big Bang...

In this paper, we investigate internationalization strategies of German manufacturing firms in the European Union. We give reasons for the hypothesis that traditional market strategies had been replaced by border-crossing production networking based on the comparative advantage of host countries...

The financial services industry is "special" in a variety of ways, including the fiduciary nature of the business, its role at the center of the payments and capital allocation process with all its static and dynamic implications for economic performance, and the systemic nature of problems that...

Japan and Korea are close countries in terms of economic interaction as well as geography. To quantify the impact of changes in the yen-dollar exchange rate on the Korean economy before and after the crisis in 1997, the sample period has been divided into two sub-periods and the causal...

After Future climate policy regimes may be based on the Kyoto-Protocol or on other policy instruments such as carbon-taxes. Any effective regime based on the Protocol requires the determination of the concrete contributions by each Party. This involves namely the time of contribution and the...

International climate negotiations have specified that projects under the Clean Development Mechanism (CDM) should not lead to a "diversion" of official development assistance (ODA). It is however unchallenged that ODA can be used in capacity building for the CDM. Diversion can be interpreted in...

Many believe that multinational enterprises insensitively ignore political rights and civil liberties in the countries of their investments. Frequently, non-governmental organisations accuse multinationals of fostering repressive regimes in developing countries and consider foreign direct...

Afforestation and reforestation (AR) projects in the Clean Development Mechanism are able to create emission permits that can be accounted against the industrialized countries' commitments for limiting their greenhouse gas emissions, as agreed under the Kyoto Protocol. The discussion of how to...