In the present paper an attempt will be made to show econometrically with panel data that as globalization increases, banking risk goes also up but not by as much. Panel data are elaborated by means of Eviews software package. The sample covers during 1999–2007 Western Europe and the United States

In this paper we theoretically and empirically examine how the interaction between the formal court system and the informal loan network affects a household's decision to start a business. We find that when the formal court system is weak, expansion of informal credit network leads to the...

This paper presents an exploratory analysis of the potential impacts of the Lei do Empreendedor Individual (Individual Entrepreneur Law). We intend to present evidence that helps clarify, albeit only partially, whether the policy was successful in promoting: i) micro-entrepreneurship in Brazil;...

In this paper we theoretically and empirically examine how the interaction between the formal court system and the informal loan network affects a household's decision to start a business. We find that when the formal court system is weak, expansion of informal credit network leads to the...

In the present paper an empirical analysis will point out that shadow economy tends to push up house prices, distorting real estate market. The sample covers EU, Japan and The United States. Data are taken from OECD and (Schneider et al., 2010); (Schneider, 2013). The elaboration of these panel...

This paper offers a new theory of the corruption-shadow economy relationship: one that defines it as either collusive – i.e., crony – or non-collusive. Using new estimates of state-level shadow economy size, and data on corruption convictions of U.S. public officials for the 48 contiguous...

Too often, academics and policy makers interpret formality as a binary choice and formalization as an irreversible process. Yet, formalization has many facets and shades on the business and labor fronts, and firms may not be able or willing to formalize all at once. This paper explores the joint...

This discussion paper reviews the literature on experiences with innovation under the existing emissions trading schemes in the USA. The basic result from this review is that the innovation effects triggered by emissions trading have been limited because a) targets were not constraining in the...

The US government has decidedly moved towards encouraging co-operation in research and development (R&D) between firms, universities, and other research institutes since the early 1980s. The Republican Administration in the early 1980s set the stage for a radical shift in market environment...

Gegenstand des Beitrages sind die Umstrukturierungen der Stromwirtschaft in Kalifornien. Im Gefolge der Entwicklungen auf der Bundesebene - dem Energy Policy Act von 1992 und der neueren Politik der Federal Energy Regulatory Commission - hat die kalifornische Regulierungskommission Maßnahmen...