This article investigates whether the stock markets of the Pacific Basin countries of Hong Kong, Singapore, South Korea, and Taiwan are informationally efficient with respect to macroeconomic policies. Granger causality tests are utilized in the context of a Vector Error Correction Model to test...

Das gegenwärtige Wirtschaftswachstum in Südkorea flaut ab (1988 + 12,2%; 1989 + 6,5%). Die ausländischen Direktinvestitionen haben abgenommen, die eigenen Investitionen im Ausland dagegen haben sich nahezu verdoppelt. Durch Steigerungen der Gesamtausgaben um 18% (1990), Reduzierung...

A growing literature concludes that modern democracies have not adopted policies that benefit the majority to the extent predicted by social conflict theory. The most prominent reason is that globalization ties the hands of policymakers, making it hard for them to redistribute. Yet while...