The European welfare regimes face two sets of challenges. One internal, specific for the welfare state itself, and the other external, imposed by changing economic, political and economics conditions. The first challenge lies in the growing gap between the rigid welfare state design and flexible...

When the source of external capital for Continental European firms is examined, debt markets have historically supplied a much larger percentage of the external capital than equity markets, and firms rely much more on bank debt than bonds for their external funds. In this environment banks have...

This article analyses the relationship between the main antecedents of and imports/GNP ratio as a subtle reflector of macro-level consumer ethnocentrism (CE). We constructed a model that reflects the macro level ethnocentrism in a domestic country. This ratio expresses the economy openness of a...

This paper empirically investigates whether the Austrian EU membership in 1995 resulted in more financial integration with Germany. A method recently developed in the literature that is robust to non-normality and timevarying volatility is used. It is found that EU membership has not resulted in...