What is the future role for Hong Kong as an international financial centre in China? A few pointers can be found by analysing the role of New York as a national and global financial hub. The financial sector in New York currently employs twice as many people and generates four times as much...

Consumer credit has shown strong growth in emerging and newly industrialised Asian economies in recent years. While credit card lending has helped smooth consumer spending and improved the profitability of financial institutions, it also represents a new source of risk. Preventing financial and...

The paper tackles the problem of the overwhelming regulatory burden that marks its presence in a post-crisis environment. With evidence of regulatory overload in some cases, paths for more effective design of regulatory frameworks should be sought. Although self-regulation does not enjoy...

The main purpose of the paper is to analyze different channels for innovations. We analyze the influence of various incentives for innovation in Russian companies taking into account the organization of industries — vertical or horizontal orientation, peculiarities of corporate demography,...

This paper examines some of the recent literature on the identi�cation of production functions. We focus on structural techniques suggested in two recent papers, Olley and Pakes (1996), and Levinsohn and Petrin (2003). While there are some solid and intuitive indenti�cation ideas in these...

This empirical study evaluates the relative importance of articles in Industrial Organization published in major generalist or specialized scientific journals, using the new 1991 J.E.L. classification system. Contributions are regrouped according to the type of article: theoretical analysis,...

The paper explores the analogy between city and two-sided market. It generalizes the results on the pricing strategies of the platform in the two-sided markets for the case when concentration spillover plays an important role. The two-sided market framework is applied to model a city. The paper...

The study begins with a discussion of the thesis that Italy, in respect to other countries with similar growth, has a relatively large number of small companies. This is often considered the cause of modest performance of the Italian economic system in terms of growth and efficiency. The paper...

This paper studies market competition when firms can influence consumers' ability to compare market alternatives, through their choice of price "formats". We introduce random graphs as a tool for modelling limited comparability of formats. Our main results concern the interaction between firms'...

Tipping is a phenomenon that has been studied for many years, but is receiving increased attention in recent years. The magnitude of tips is very large – in the US, for example, tips in the food industry alone amount to about $42 billion each year, and tips are given in many other...