A number of studies have tested whether, globally, per capita incomes are converging over time. To date, the majority of studies find no evidence of absolute convergence, but many find evidence of conditional convergence, i.e. convergence having controlled for differences in technological and...

The diffusion of modern, efficient technology has far-reaching consequences for the geography of economic activity, inequality and environmental quality. This article examines two popular yet highly controversial claims about the conditions most favorable to the rapid spread of new technology....

This article examines what explains the relative attractiveness of Western European countries as a destination for asylum seekers. Individuals coming to Western Europe in order to lodge an asylum application are modelled as utility maximisers who choose the destination country that offers the...

This paper analyses the use and circulation of nternational auditing standards within a large post-Soviet Russian audit firm, as it faces up to the challenges of international harmonisation. It describes this process as one of ‘connecting worlds’ and translation. In a detailed field study...

We consider the robust hedging problem in which an investor wants to super-hedge an option in the framework of uncertainty in a model of a stock price process. More specifically, the investor knows that the stock price process is H-self-similar with H∈(1/2,1), and that the log-returns are...

This paper contributes to debates about climate change policy and technology transfer by analyzing the success factors underlying collaboration between private companies and communities in developing countries. To date, much attention to capacity building for enabling environments –including...

In intertemporal choice experiments people usually choose between smaller-sooner and larger-later amounts of money. That is, they make tradeoffs in terms of nominal amounts. Yet the factor governing intertemporal tradeoffs in the marketplace is usually the interest rate. In this study, we tested...

Most countries experienced high and volatile inflation during the 1970s and part of the 1980s, and low and stable inflation thereafter. Professor Besley argues that the main contrast between these two periods is a significant change in central bank responses to inflation. Periods of high and...

We investigate the impact of market-supporting institutions on business strategies by analyzing the entry strategies of foreign investors entering emerging economies. We apply and advance the institution-based view of strategy by integrating it with resource-based considerations. In particular,...

Despite the zero lower bound on the short nominal interest rate in Japan having become a binding constraint, conventional monetary policy in Japan, in the form of generalised open market purchases of government securities of all maturities, has never been pushed to the limit where all...