This article investigates economic performance when enforceable propertyrights are missing and basic needs matter for consumption. It suggests anew view of the so-called voracity eect according to which windfall gains inproductivity induce behavior that leads to lower economic growth. Takinginto...

We analyze the cross-national distribution of GDP per capita and its evolutionfrom 1970 to 2003. We argue that peaks are not a suitable measure for distinctgrowth regimes, because the number of peaks is not invariant under strictlymonotonic transformations of the data (e.g. original vs. log...

The Swiss Banking Institute of theUniversity of Zurich carried out a writtenquestionnaire (1391 questionnaires weredistributed in April 2007) to find out whereindependent asset managers (IAMs) in Switzerlandsee the problems and challenges oftheir industry both today and in the futureand the...

Wo drückt der Schuh? Mit dieser Fragestellung hat sich der TrendReport des Instituts für schweizerisches Bankwesen der UniversitätZürich beschäftigt. Ziel war, direkt von den unabhängigenVermögensverwaltern zu erfahren, wo sie Probleme und Herausforderungender Branche heute und in Zukunft...

Schweizer Private-Banking-Anbieter gehören trotz starken Ertragseinbrüchen im Zuge derFinanzkrise weiterhin international zu den wettbewerbsfähigsten Instituten. Offshore-Strategienstagnieren allerdings und kommen unter Druck. Dies zeigt die neueste «International PrivateBanking Study» des...

Despite severe revenue shrinkage in the course of the financial crisis, Swiss private banks canstill be found among the most competitive players internationally. However, offshore businessmodels have stagnated as pressure on them intensifies. The latest edition of the«International Private...

We investigate the relationship between bankruptcy risk and expected future sales growthfor Norwegian non-listed rms for the period 1988-2007. We nd that rms with highbankruptcy risk also have high expected future growth. Financial ratios characterizingrms with high bankruptcy risk also...

Types of capital which determine the ability of individuals, ofcommunities and of nations to avoid poverty and social exclusion areanalysed. This analysis draws on changing explanations of economicgrowth and the recent literature on social capital. Five forms of capitalare distinguished –...