This paper tests the hypothesis that government bond markets in the eurozone are more fragile and more susceptible to self-fulfilling liquidity crises than in stand-alone countries. We find evidence that a significant part of the surge in the spreads of the PIGS countries (Portugal, Ireland,...

We test the hypothesis that the government bond markets in the Eurozone are more fragile and more susceptible to self-fulfilling liquidity crises than in stand-alone countries. We find evidence that a significant part of the surge in the spreads of the PIGS countries in the Eurozone during...

Since 1990, 2.1 billion people in the world gained access to improved sanitation. However, 2.4 billion people still do not use a basic toilet. We examine whether the country differences in the sanitation index existing in 1990 has been reduced and if so, how fast. We deploy the convergence...

In a majority of the existing research on entrepreneurship start-up, entry “cost”, “time”, and “procedures” were analyzed as the primary barriers against a greater rate of new business start-ups. We examine whether the country differences in the start-up barriers existing in 2003...

Terrestrial protected areas are an important tool for biodiversity conservation. Recent expansion of terrestrial projection areas is such that fifty countries have already reached or exceeded the 17% target to be realized by 2020. This research examines whether countries with low level of...

Marine Protected Areas are central to conservation in oceans and seas and serve as protected areas for fish populations. The rapid growth of Marine Protected Areas has been guided by several leading countries in recent years. This research examines whether countries with low level of protection...

Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we formally test the validity of this prediction for...

The Millennium Development Goals by the United Nations included a global target for Improved Water Source to reach 88% of global population by 2015. By 2010, the global target was reached. However, there are still millions of people lacking the improved access to drinking water. We propose the...