The aim of this paper is to empirically analyze the effect of financial constraint, information asymetry on the firm investment. On the basis of a data relating to 394 Tunisian firms observed over the period 2001-2008 and by adopting the panel data method, our findings show that the effect of...

China's import penetration in Chilean markets is higher in unskilled-labor intensive sectors as predicted by traditional endowment-based theories of comparative advantage. However, there is also evidence of within-industry specialization. In particular, high-income countries receive higher...

In western countries outsourcing has been an integral part of many enterprises for a long time. In Poland it is increasingly seen as a part of a long-term development strategy. Although Poland is only beginning to mark its presence in this area, it is quite often listed as one of the countries...

This paper attempts to provide an economic interpretation of the factors that drive the movements of interest rates of bonds of different maturities in a continuous-time no-arbitrage term structure model for Chile. The dynamics of yields in the model are explained by two latent factors, namely...

Of the world’s 6.7 billion people (as of 2008), 1.3 billion lived on less than $1.25 Purchasing Power Parity dollars per person per day and another 1.7 billion lived on between $1.25 and $2.50 PPP dollars (Chen and Ravallion, 2012). The scourge of absolute economic misery among billions of the...

We study work effort with its various determinants such as the educational level of the worker, the minimum or start-up salary as well as the initial endowment of the worker. By means of optimization we find that optimal work effort depends directly on the initial income available to the worker,...

This study measures the impact of changes in the income determinants on inequality in the 1990 to 2003 period, in order to answer the question of why income distribution as a whole has not changed. The methodology utilized are micro-simulations of income distribution, which is the most...

In the Latin American context, Chile has the highest level of per capita income and the human development index, though the distribution of income is quite unequal. Unlike Uruguay, Chile has one of the more unequal income distributions of the region. In 2003, Chile had Gini Coefficient of 8.5...