Over the past 40 years, regulatory reforms have been undertaken on the assumption that markets are efficient and self-corrective, crises are random events that are unpreventable, the purpose of an economic system is to grow, and economic growth necessarily improves well-being. This narrow...

Romanian rural economy is dominated mainly by agriculture, whose dominant feature is the very high share of subsistence farms that produce mainly for self-consumption and less or not at all for the market. Given the dominance of the agricultural sector, rural economy is still very poorly...

Aligning investments to the climate and sustainability targets requires the introduction of stable climate-aligned policies. In this regard, a global Carbon Tax (CT) and a revision of the microprudential banking framework via a Green Supporting Factor (GSF) have been advocated. However, our...

This paper analyzes the Wirecard AG case from a digital finance perspective. The relatively low pace of digital transformation of financial supervisors and the high speed of advancements in technology increase the technological gaps between supervisors and their responsibility areas and result...

The alarming rise in drinking water pollution across the U.S. is often attributed to cost cutting pressures faced by local officials. We know little, however, about why these pressures are so severe for some cities compared to others. We present a new theory to argue that an important...

The war in Ukraine has unexpectedly increased geopolitical conflicts. It has disrupted the integration of the world's economies and cultures and compelled globalisation to go into reverse. This article argues how globalisation may take shape after the ongoing Ukraine Crisis. The war in Ukraine...

The article's main aim is to assess the impact of economic security on sustainable entrepreneurship in Central and Eastern European Countries (CEECs), including Bulgaria, Croatia, Czechia, Estonia, Hungary, Lithuania, Latvia, Poland, Romania, Slovakia and Slovenia from 2008 to 2020. The paper's...

The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...

Trade finance has received special attention during the financial crisis as one of the potential culprits for the great trade collapse. Several researchers have used micro level data to establish the link between trade finance and trade, especially so during the financial crisis, and have found...

We present a DSGE model where firms optimally choose among alternative instruments of external finance. The model is used to explain the evolving composition of corporate debt during the financial crisis of 2008-09, namely the observed shift from bank finance to bond finance, at a time when the...