No country can develop without an active capital market, which has to be capable to meet the mobilization requests of the assets for financing the national economy. On the other hand, it has to be a profitable instrument for placing the available financing resources. The existence of a potential...

CeRM recommendation for creating a new tool, the Open Welfare Funds: open funds based on real capitalisation of contributions, dedicated to both pension and health care provisions, and linked to collective insurance coverage against major health risks (first of all lack of self-sufficiency)...

A game-theoretical model of the investment value formation of the instruments of corporate control (shares or stakes in equity) is formulated and analyzed. It is shown that this value depends significantly on the allocation of equity among the owners, and the on the possibilities of the...

In a local economy, the citizens can react on local policy by exit. Exit induces a shift in the housing demand. The local policy may thus capitalize into the housing prices. However, the citizens encounter specific coordination problems on the housing market. Therefore, it may be asked how...

This paper examines some contributions to the analysis of the importance of public capital, particularly infrastructure in Spain’s economic growth. We highlight the positive contribution of productive public capital to growth and convergence between regions. We also describe the profile of...

Using data from 260 households from the Hadejia-Nguru wetlands, the paper shows that vulnerability to poverty estimates are biased if the data used is seasonal. The seasonal bias in the consumption expenditure is less pronounced than in its variance. The paper further shows that the relative...