Der Euro ist eine welthistorische Premiere. Noch niemals haben politisch unabhängige Staaten in diesem Umfang ihre Währungshoheit zu Gunsten einer gemeinsamen Währung aufgegeben. Auch das Europäische System der Zentralbanken (ESZB) und die Europäische Zentralbank (EZB) betreten Neuland mit...

This paper looks at the current shadow-banking practices of Chinese SME's and the question if these practices have a positive impact on the development of those SME's. For this pur-pose, new primary data is examined: Four case studies and two supplementary sets of data. Although the data volume...

The so-called Belt & Road initiative of China is the largest and most comprehensive global economic activity of our times. It consists on a land as well as a sea channel that covers more than 60 countries in Asia and Europe, around 65 % of the world population, one-third of world's GDP, and 25 %...