Governments have a substantial influence on the allocation of resources in setting the rules of the game of financial markets. However, up to now, institutional economics and the theory of financial markets are totally separated research areas. To close this analytical gap, our paper connects...

Über die Rolle der Energievorkommen am Kaspischen Meer gibt es eine rasch wachsende geopolitische Literatur, bei der ökonomische Aspekte bisher weitgehend vernachlässigt wurden. So wird bis heute auf die große Bedeutung der kaspischen Erdöl- und Erdgasvorkommen verwiesen, obwohl die...

The determinants of migrants' remittances are the subject of this study based on German SOEP data (2001-2006). In contrast to previous studies we analyze the motives for remittances not only for foreigners but also for the broader group of individuals with a personal migration background. Major...

Gender-specific determinants of remittances are the subject of this study based on German SOEP data (2001-2006). In 2007, about 7.3 million foreigners were living in Germany. While the total number of foreigners has decreased over the last decade, female migration to Germany has increased....

The determinants of migrants' remittances are the subject of this study based on German SOEP data. For our analysis of the probability and amount of remittances, we do not restrict ourselves on immigrants with a foreign citizenship, but focus on all individuals with a migration background. Major...

This paper examines the impact of outward foreign direct investment (OFDI) on domestic investment by applying co-integration techniques to macroeconomic time series data for the United Sates and Germany. We show that the two countries differ: In the case of the US, OFDI has positive long-run...

Remittances from Germany are substantial. Cross-border transfers to family and friendship networks outside Germany are not only made by foreigners. Many naturalized migrants send money home as well. Here, we focus on international networks and gender-specific determinants of remittances from the...

In this paper, we focus on network- and gender-specific determinants of remittances, which are often explained theoretically by way of intra-family contracts. We develop a basic formal concept that includes aspects of the transnational network and derive hypotheses from it. For our empirical...

Russia's foreign debt problems worsened substantially after the financial crisis of 1998. The paper focuses on the key role of the government in servicing foreign debt and promoting institution building by showing how foreign debt influences the choice between official and unofficial taxation....