"China ist heute, Indien ist morgen", sagt Ashwini Kakkar, der Präsident der Handelskammer von Mumbai und CEO von Thomas Cook (India). Wie ist diese Aussage zu werten? Welche Bedeutung wird Indien künftig für europäische Firmen spielen, welches sind die Chancen und Risiken und wie ist ein...

This paper re-examines the empirical relationship between financial development and economic growth. It presents evidence based on an updated data set, a variety of econometric methods and two standard measures of financial development: the level of liquid liabilities of the banking system and...

The paper enquires into the short run e¤ect (2001-2005) of China’s entry into the WTOon its economic growth. We conclude there is no economic hazard with a finding that Chinaseconomy would enjoy a higher survival probability of economic growth rate and better protectionof consumer welfare,...

We use portfolio theory to quantify the efficiency of state-level sectoral patterns of production in the United States. On the basis of observed growth in sectoral value-added output, we calculate for each state the efficient frontier for investments in the real economy. We study how rapidly...

We show that the volatility of a price process, which is usuallyregarded as an impediment to financial growth, can serve as an en-dogenous factor in its acceleration.