The huge amount of white elephants in East Germany suggests the search for a statistical figure for an "efficient" level of investment. Following the Mankiw/Romer/Weil (1992) augmented Solow model and the studies of Borensztein/Montiel (1992) and Thimann (1996) and applying the results of a...

Extremely affluent investors differ in a number of ways. In industrialized countries the average age of UHNWI is rather high, their wealth is frequently inherited and the investment style if more conservative. In contrast, UHNWI in emerging markets are comparatively young, they have created...

Some specific features of banking products (they are abstract, time-related, immaterial, in need of explanation, legally standardized, imitable, and require a minimum of trust) make their marketing quite challenging. Good branding seems to be a solution to this problem. There is a lot of...

For the past ten years the politicians have been advocating private pension plans and pushing a new system embodied in a range of models, e.g. pensions for the self-employed, for employees, as well as company pension plans. In such cases, the contributions are put into personal accounts and...

German credit institutions have the duty of banking confi dentiality, i.e. they are obliged not to divulge their clients’ credit and fi nancial circumstances and to deny queries in general. Banking confi dentiality is not specifi cally regulated by law, but the prevalent view is that banking...

The German system of public broadcasting has arrived at a crisis point: too many lightweight channels, too many soap operas and boulevard magazines, too little on culture and too much on celebrity. Wasted investments, product placements, misappropriation of funds and fraud led to public...

In this paper, the economic structure of illegal markets with special reference to the markets for illegal drugs and arms is analyzed. Analytical tools of System Dynamics are employed to emphasize the dynamic aspects of these markets. The results of our analysis enable us to evaluate state...

Die Aktienkurse eilen derzeit von einem Rekord zum nächsten. Dieser schon lange anhaltende Höhenflug der Kurse ist mit einem im historischen Vergleich hohen Kurs-Gewinn-Verhältnis verbunden. Handelt es sich um eine spekulative Blase? Welche Folgen hätte ein plötzlicher Kursrückgang für...