Mit dem Abschluss der Beitrittsabkommen undihrem Beitritt zur EU am 1. Mai 2004 haben dieneuen Mitgliedstaaten sich auch verpfl ichtet, denEuro als gemeinsame Währung einzuführen. DasDatum hängt jedoch nicht zuletzt davon ab,wann die Neumitglieder die fünf Kriterien (Inflation, Haushaltsdefi...

The international transactions accounts provide information on trade in goods and services (including the balance of payments and the balance of trade), investment income, and government and private financial flows. In addition, the accounts measure the value of U.S. international assets and...

This paper investigates the role of corporate taxation with respect to a multinational'sinvestment decision, in which the multinational can pursue either a direct or an indirectinvestment strategy. The latter involves at least three corporate entities and opens upenhanced opportunities for...

The fact that China is an increasingly attractive market and a magnet for foreigndirect investment is not news. The unprecedented rise of foreign direct investmentinto China – now running at over $60 billion a year – has created the largest array ofinternational mergers and acquisitions,...

In the last decade, the prospect of accession of Central and East European countries (CEECs) tothe European Union has given momentum to the discussion of their economic integration into theEU. Thus, academic studies have generally focused on variables at the macro level and areconducted in the...

The paper summarises some of the key findings of research on the macro and microeconomic effects of FDI, the impact of the MNCs on development, industrial and trade restructuring, and presents a first attempt to draw a map of industrial networks in Hungary. It answers the question whether the...

Japanese multinational companies (MNCs) have often been portrayed as highly centralised firms that limit the roles of overseas subsidiaries to the assembly and sale of standardised products designed and developed in Japan (see, e.g. Bartlett and Ghoshal, 1989: 51-2, 158-161). Their foreign...

This article offers a critical review of recent literature on Chinese legal tradition and argues that some subtle but fundamental differences between the Western and Chinese legal traditions are highly relevant to our explanation of the economic divergence in the modern era. By elucidating the...

From 1945 to 1975, fifteen Western European countries passed school-leaving age laws that raised the number of years of compulsory schooling for the first time after the Second World War. In order to understand the driving forces behind the increase in compulsory schooling and to explain the...