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According to recent law and finance research, legislation is essential to financial development. More effi-cient financial markets would be achieved by reforming the laws governing investor protection and cor-porate governance systems. The Companies Act has traditionally played a very important...
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Municipal employees and private-sector employees in Finland belong to separate earnings-related pension systems. Both systems are financed by contributions from the payroll, and are mostly pay-as-you-go. Thus if a municipality decides to buy services from the private sector, instead of producing...
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China is still a poor developing country. Since 1978, when the economy started to move in a more market …-oriented direction, China has grown to become an influential player in the global economy. China has actively aimed to take part in the … international division of labour. For example, in 2002 it became a member of the World Trade Organization (WTO). China's foreign …
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