Despite severe revenue shrinkage in the course of the financial crisis, Swiss private banks canstill be found among the most competitive players internationally. However, offshore businessmodels have stagnated as pressure on them intensifies. The latest edition of the«International Private...

We investigate the relationship between bankruptcy risk and expected future sales growthfor Norwegian non-listed rms for the period 1988-2007. We nd that rms with highbankruptcy risk also have high expected future growth. Financial ratios characterizingrms with high bankruptcy risk also...

Aquaculture production has increased rapidly during the last three decades. This is due toincreased production of established species as well as a continuous introduction of newspecies. Productivity growth is the main engine for the increased production in aquaculture,and as the accumulated...

Types of capital which determine the ability of individuals, ofcommunities and of nations to avoid poverty and social exclusion areanalysed. This analysis draws on changing explanations of economicgrowth and the recent literature on social capital. Five forms of capitalare distinguished –...

International trade, as a major factor of openness, has made an increasingly significantcontribution to economic growth. Chinese international trade has experienced rapidexpansion together with its dramatic economic growth which has made the country to targetthe world as its market. This...

Entrepreneurship is a hot topic both in academic and policy circles.1 There is a growingrecognition that entrepreneurship is a driving force in economic growth and development in bothestablished and emerging economies. There is also an increasing body of evidence suggestingentrepreneurship that...

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.