The paper develops a two-stage duopoly model in which market structure is endogenous, as it is the outcome of the first stage of the game. The model considers a private firm and a State Trading Enterprise (STE) competing on a foreign market; the most important difference between the private firm...

Thailand’s economic development has been quite successful in terms of achieving high growth rate and reasonable per capita income. The country’s economic performance in terms of the transformation of production and exports are tending toward the normal pattern of increasing share of...

The neoclassical growth model was extended by Mankiw, Romer and Weil (1992) to estimate the level effects of additional factors like human capital. We suggest a further extension to capture their permanent growth effects. Time series data from Fiji are used to show that the growth effect of...

Although many economists do a serious and respectable work, main stream economic theory contains an almost complete disregard for the importance of social, cultural and political structures which are the very foundation of the society. Worse than that, such disregard is developed into arrogance...

The EU is currently drawing up its agenda EU2020 for the next decade. In doing so, account must be taken of the successes and limitations of the Lisbon Agenda 2000-2009, notably the failure to achieve a decisive impact on the eradication of poverty and social exclusion. From the experience of...

<p> This paper investigates whether M&A operations influence the performance of banks. Using a sample of 714 deals involving EU acquirers and targets located throughout the worldover the period 1991-2005, we investigate whether M&A operations are associated withimproved performance (measured using...</p>

This paper investigates the supposed substitutability between equal opportunities and public redistribution. In the first part a theory which finds a substitutability between redistribution and equal chances in determining the extent of incomes inequality (Gini Index) is presented. This result...

This paper develops a method for interpreting growth accounting studies in terms of the neoclassical growth model. In particular it shows that the growth accounting contribution of capital reflects the distance of the economy form its steady state income level. The method is applied to studies...

In the new millennium, the Western aid effort towards Africa has surged due to writings by well-known economists, a celebrity mass advocacy campaign, and decisions by Western leaders to make Africa a major foreign policy priority. This survey contrasts the predominant "transformational" approach...

In the last decade, as many other European countries, the Italian Government adopted several reforms in order to increase the use of Renewable Energy Sources (RES). The liberalization of the electricity market that represent one of these reforms aims to reach environmental benefits from the...