As with many developing countries, the consumer macrostructure of South Africa is beset with a number of serious problems including high levels of poverty, a very unequal income distribution, negative personal saving rates and high personal gearing ratios. A consumer financial vulnerability...

Nonprofit organizations rely heavily on their governing board of directors to provide leadership, strategic guidance, and financial oversight. The nonprofit community continues to grow, and the services provided by these organizations have become a critical part of our society, providing a wide...

Tax systems of both Germany and other European countries are often subject to tax reforms. On the one hand, tax systems should be economically efficient, i.e., they should not involve welfare losses or lead to distortions of decisions. On the other hand, tax reforms could only be implemented if...

From 2000 to 2007, Estonia was one of the fastest growing emerging market economies. A housing boom, fuelled by capital inflows and credit, resulted in skyrocketing house prices and an over-expanded construction sector. However, the currency board limited the Bank of Estonia’s ability to curb...