I analyze a duopoly that competes first in product characteristics and then in prices. I show that when there exist consumers that are loyal to specific brands with no regard for product characteristics, the second-stage price game doesn’t have a pure-strategy equilibrium or symmetric...

The main debate about industrial policy consists of the attitude regarding the role of state versus market. The admission of possible market failures was the inspiration source for policies in the field of competition strengthening, supply of public goods, overcoming the deficit of capital etc....

The paper refers to the impact of the Basel 2 Agreement on the development of small and medium enterprises (SME). There are presented the methods for estimating the rating (standard, basic inter and advanced rating). It is also presented the experience of some countries like Italy, Germany,...

The model of a Social Market Economy (SME) defines a policy concept of economic order which is based on free markets but, at the same time, includes elements of social balancing. The term “Social Market Economy” can neither be found in the Treaty on European Union nor in the Treaty...

The concern for improving the functioning of the single market pertains both to the European decision authorities and to those of the Member States of the European Union. If we take into account the specificities of the European space development (Nedergaard, 2007, Matei and Matei, 2012) in...

This paper examines the impact of financial risks on economic growth in the first 15 Member States of the European Union, considering 1995-2014 period and aims to lay down a new explanatory model of economic growth, based mainly on the behavioral reactivity of the financial disruptions mentioned...