This paper examines the macroeconomic consequences of the diversion of migration flows away from Germany towards the UK in the course of the EU’s Eastern Enlargement. Based on a forecast of the migration potential under the conditions of free movement and of the transitional arrangements, we...

Developed economies are facing a problem of declining competitiveness on a global scale. The perspectives for sustaining the world economic leadership are associated with stimulating technological progress through innovations and investments to R&D. This is a challenge for the private sector but...

There has been a long dispute about the relative importance of country versus industry diversification. We test the hypothesis that institutional ownership affects the relative importance of country and industry effects in explaining stock returns worldwide. We find that industry effects become...

The objective of this article is to examine the impacts of entrepreneurship on the performance of Iran's manufacturing industries using time series data over the period 1974-2006. More specifically, entrepreneurship capital measures are included in the production function of manufacturing...

It is generally acknowledged that the Canadian retirement income system (RIS) has successfully contributed to poverty alleviation among seniors and helped maintain an adequate and relatively stable income replacement rate. However, increased longevity, the trend decline in registered pension...

In the Caribbean Basin countries as in many other parts of the world, unemployment has become since the early 1980s one of the major dimensions of economic dysfunctions affecting societies. With levels that are above 15% and often reaching values of up to 20% or 30% during the decades 1980, 1990...

Over the past century, most industrialized countries have adopted public pension systems based pay-as-you-go system, according to which the actual contributors pay the pensions of the actual pensioners, with the expectation that future taxpayers pay their pensions when they retire. The evolution...

Use of an OECD basis of growth determinant to select the most appropriate model for explaining GDP per capita levels. The data basis was analysed by standard econometric techniques but the "best" models were selected by Bayrsian techniques using the Metropol-lis *Hastings methodGiven the high...

In January 2005 the European Union launched the European Emission Trading Scheme (EUETS) which represents the main policy instrument to achieve the EU Kyoto commitments. The sphere of application of the market is limited, with only certain sectors being subject to it (mostly industries), and...

The international Monitory Fund (IMF) has been working with Sudan since 1997 to implement macroeconomic reforms including a managed float of the exchange rate (EXR). The IMF sees the EXR flexibility as key to safeguard and rebuild foreign exchange reserves and essential to meet the international...