The paper investigates, from the welfare and growth point of view, the determination of the optimal capacity of the banking system. For that purpose, we consider an overlapping generation model with endogenous growth. There is horizontal differentiation and imperfect competition in the banking...

The management of revenues from exhaustible natural resources involves a number of challenges. In this paper, we argue that the standard policy advice to managers of resource revenues has been dominated by short-termism and the lack of a perspective on economic development and structural...

Low-cost carriers (LCCs) have revolutionized the world of passenger air transport changing dramatically the aviation market, tourist behaviour and the way destinations are developing. Current paper deals with this phenomenal growth and explores the most important aspects, shaping their progress....