The purpose of the paper is to examine what kind of investment theory can explain the recent movements in corporate investment in Japan. To explain the drastic decline in corporate investment in the wake of the bubble economy, economists applied Tobin's Q theory with liquidity constraints or...

Organic farming is increasing its share of total world food output and receiving growing support from policymakers concerned with agricultural sustainability issues. This paper studies the characteristics of citrus farmers in the Spanish region of Valencia that affect their probability of...

Given falling birth rates, ageing baby boomers approaching retirement age as well as a pension crisis in most advanced economies, understanding the characteristics of the labour supply function of the elderly have taken on a new significance. Even in developing countries, with labour surplus...

We constructed a monthly banking sector fragility index. According to this index, during the January 1987 – October 2004 period, the Turkish economy experienced three banking crises (in 1988, in 1994 and in 2001), two of which (in 1994 and in 2001) were twin crises. With risks at quite a high...

El mercado de seguro privado de enfermedad constituye en la actualidad en España, como en buena parte de los países de la Unión Europea, uno de los principales motores de todo el conjunto de la actividad aseguradora. Su desarrollo no sólo ha de contemplarse dentro del marco del sector del...

The paper analyses for the first time empirically the impact of foreign competition due to inward foreign direct investment and imports on the innovation activities using data of German service firms. Based on the hypothesis that foreign competition has a disciplining effect on domestic markets...

We study a mechanism through which strong creditor protection affect positively the level, and negatively the volatility, of the aggregate stock market price. In a Tobin-q model with liquidity and productivity shocks, two channels are at work: (1) Creditor protection raises the stock value in a...

Dutch municipalities have the right to decide on Sunday shop opening hours since 1996. Despite positive effects on economic growth and employment, many municipalities restrict Sunday trading in one way or another. Based on 2003 data we show that especially religious and political afilliation,...

This article analyzes the attitude of the Uruguayans towards the subjection to the law in the prosecution and punishment of offenders. Specifically, it addresses the approval of people taking justice into their own hands and justification for police action outside the law when capturing...