This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a data set of unbalanced...

A conventional reading of economic history implies that free market reforms rescued the world’s economies from stagnancy during the 1970s and 1980s. I reexamine a well-established econometric literature linking economic freedom to growth, and argue that their positive findings hinge on two...

What are the trends in the global competitiveness of the Indian pharmaceutical industry? Where does this industry stand when compared to global peers on pharmaceutical value-added, productivity, research and development and trade performance? What are the new strategies that Indian...

Very recently overseas acquisition and outward greenfield foreign investment have emerged as the two important modes of internationalization of the Indian pharmaceutical enterprises. This study examines the relative strengths and weaknesses of these strategies so as to suggest which between the...

The objective of this paper is to estimate an econometric model for analyzing the interrelationship between foreign direct investment, domestic capital and economic growth in 13 MENA countries by using a ‘growth model’ framework and simultaneous-equations models estimated by the Generalized...

This paper highlights the major developments and structural changes in the Middle East and North Africa (MENA) markets. Noticeable growth was observed in these markets during the last decade. This is evidenced from the record growth rates in market capitalization, number of listed companies,...

The paper employs a heuristic comparative approach suggested by Ismail (2009) to search for evidence of Dutch disease in oil-rich countries of the Central African Economic and Monetary Community (CEMAC). While these countries have benefitted from high international oil prices in recent years,...

The Pension Fund Regulatory and Development Authority Bill, 2011 was introduced in the Lok Sabha by Mr. Pranab Mukherjee, Minister for Finance on March 24, 2011. The Bill was referred to the Standing Committee on Finance (Chairperson Mr. Yashwant Sinha) on April 8, 2011. The Committee submitted...

This paper presents a comprehensive statistical report on China’s current apparel retailing environment, including the macro‐ (demographic, economic, political, cultural, technological and natural factors) and micro‐ (sourcing, garment manufacturing, marketing intermediaries and consumers)...

Purpose The purpose of this paper is to understand what affects the liquidity of individual commercial real estate assets over the course of the economic cycle by exploring a range of variables and a number of time periods to identify key determinants of sale probability....