Two of the central challenges faced by Cape Verde at the present are the high level of unemployment and the increasing proportion of the population that lives below the poverty line. Microenterprise development can be an effective means of addressing both problems in a developing country like...

Globalization and technological innovations create investment opportunities for firms worldwide. In fact, while firms pursue foreign direct investment (FDI) opportunities on a global basis, countries compete to attract these flows. Investment decisions by firms depend on complex and distinct...

Desde os primórdios do que é hoje a União Europeia (UE), os objectivos foram simultaneamente políticos e económicos. Na realidade, os objectivos económicos têm vindo a ser gradualmente alcançados, até como uma forma de permitir a realização de objectivos políticos. Como exemplos...

In this paper, we develop a new immunization model based on a parametric specification of the term structure of interest rates. The model extends traditional duration analysis to account for both parallel and non-parallel term structure shifts that have an economic meaning. Contrary to most...

The Eastern Enlargement represents an opportunity for trade growth for all the European Union (EU) countries. In fact, trade between the EU and the Central and Eastern European countries (CEEC) has increased considerably in the nineties. However, both benefits and losses from trade expansion do...

O estudo das causas da inflação portuguesa no período 1954-95 com base em dados anuais, através da abordagem de Johansen permite-nos concluir que a variação da inflação portuguesa é essencialmente determinada pela variação da inflação externa e pela variação da taxa de câmbio...

It is clear that the successful management of water resources must take into account the influence of policies affecting the irrigated agriculture sector. Among these, the importance of the Common Agricultural Policy (CAP) and of the Water Framework Directive (WFD) is well recognised. In...

Most trade between the European Union (EU) and the Central and Eastern European Countries (CEEC) is inter-industrial in nature, based on comparative advantages. However, recent studies have uncovered structural changes in the nature of trade, the most unexpected being the rapid increase in...

Pure mainstream economics, based on methodological and sociological individualism usually ignores politics; development economics, on the contrary frequently integrates social and political factors in order to explain economic progress. Within this branch of economics, politics can mainly be...

This note shows in what circumstances output persistence may invert the pattern of the electoral cycle when inflation expectations are of the adaptive or rational type and the government preferences are quadratic over output and inflation