In the recent decade, the global tourism industry is showing trends of increasing visitor arrivals in the developing countries. On one hand, this implies that more tourist dollar is coming into small island developing states; on the other hand, it means that there will be more need for...

Several studies have found that biotechnology crops increase yield and reduce the use of pesticides. These studies failed to consider the long-run growth of the pest population as it becomes more resistant to both pesticide-producing crops and the pesticides. There is evidence that biotechnology...

The global financial crisis and its aftermath have triggered extraordinary policy responses in advanced countries. The impacts of these policy responses?from asset price bubbles to currency depreciations?have often been felt in the developing world. As tapering talk evolves into actual...

This paper investigates the drivers of growth and prosperity in a group of eleven European countries -- Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovenia, and Slovakia (the EU11). Since the EU11 began the transformation process, this group of...

We write model that considers both households’ and firms’ credit frictions. Firms’ credit is modeled by the traditional financial accelerator à la Bernanke et al (1999). Households that borrow funds face interest rates that increase with their debt, as in Curdia and Woodford (2010). We...

Following the cessation of hostilities in May 2009, the Government of Sri Lanka has announced a suitably ambitious macroeconomic vision to capitalize on the peace dividend. Its goals include growing at 8 percent or more per year and lowering government indebtedness from around 80 to 60 percent...

Purpose The purpose of this paper is to establish the extent of general performance factors (GPF) in assessment center (AC) exercises and dimensions. The study further aims to determine if larger GPF contributes to larger ethnic group differences across exercises and dimensions that are more...

Purpose – To highlight the key‐role of macroeconomic management in a dysfunctional emerging market economy. Design/methodology/approach – The analysis – focused on the particular case of Romania, where the transition to market economy is underway – relies on two basic hypotheses....

Purpose – Recent events demonstrate that problems in the banking system pose a significant threat to the health of the global economy. Despite several shortcomings the Basel Accord thus emerges as an attempt to protect banking systems. The purpose of this study is to shed light on potential...