Japan's prolonged economic problems are due to more than faulty macro-economic policies. We do not deny the importance of bungled macro-economic policy, but argue that deeper maladies in Japanese corporate governance made that country increasingly vulnerable to such problems.

Stock prices move together more in low-income economies than in high-income economies. This finding is clearly not due to market size differences, and only partially explained by slightly higher fundamentals correlation in low-income economies. However, measures of a country's institutionalized...

Weights in the Toronto Stock Exchange 300 index are determined by the market values of the included stocks' public floats. In November 1996, the exchange implemented a previously announced revision of its definition of the public float. This revision, which increased the floats and the index...

Dans ce document, nous decrivons ce que les economistes savent, soupconnent et supposent au sujet des determinants de l'innovation. Nous evaluons les donnees disponibles en faisant ressortir les domaines ou des travaux supplementaires sont requis sans delai. Dans bien des cas, on ne peut tirer...

Stock prices in emerging economies move in step much more than in advanced economies. Emerging markets' prices capitalize less firm specific information, and appear subject to more economy-wide fluctuations. Measures of this consonance of stock returns are positively correlated with indicators...