This paper examines how regionalization in the face of globalization has affected financial development in the context of banking system efficiency in Africa. Results which are robust to financial system efficiency and growth-led-finance nexus reveal that in the post-regionalization era: (1)...

In den letzten drei Jahrhunderten ist die Wirtschaft in vielen Ländern - langfristig gesehen - dauernd gewachsen. Materieller Mangel ist in den entwickelten Ländern weitgehend verschwunden. Für die Erkenntnis der Leistungsfähigkeit der Marktwirtschaft wie der Defizite der sozialistischen...

To answer the question "How to be an Ecological Economist", we must start by defining the field of Ecological Economics. Mainstream Economics altogether lacks the concepts required to deal adequately with nature, justice and time. It was the absence of these three concepts in this otherwise...

Much recent research in economics focuses on exploring behavioral anomalies, i.e., systematic deviations from the assumptions of the rationally self-interested model of man. Laboratory studies are used to identify seeming inconsistencies with micro-economic theory on the level of individuals....

This paper is concerned with a policy oriented macroeconomic experiment involving an 'international' economy with a relatively small 'home' country and a large 'foreign' country. It compares the economic performance of two alternative tax systems as a means to finance unemployment benefits: a...

This report aims to identify, explain and detail the links and interactions in Southern and Eastern Mediterranean countries (SEMCs) between energy supply and demand and socio-economic development, as well as the potential role of energy supply and demand policies on both. Another related aim is...

This paper analyzes reforms and counter-reforms in Bolivia in recent decades and their effects on the policymaking process (PMP) and productivity. Bolivia's PMP has shifted from a formal representative democracy to a "participative and direct type of democracy" where street protest and other...

Trotz des größten Wirtschaftseinbruchs in der deutschen Nachkriegsgeschichte hat die internationale Krise die Bürger kaum erreicht. Das wird sich mittelfristig bedrohlich ändern, wenn es nicht gelingt, rechtzeitig eine aufziehende Kreditklemme und eine bedrohlich wachsende Staatsverschuldung...

Emissions trading mechanisms have been proposed, and in some cases implemented, as a tool to reduce pollution. We explore the similarities between emission-trading mechanisms and monetary mechanisms. Both attempt to implement desirable allocations under various frictions, including risk and...

In conjunction with its tercentenary celebrations in 1968, Sveriges Riksbank (Bank of Sweden) instituted a new award, 'The Central Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel' on the basis of an economic commitment by the bank in perpetuity. The award is given by the...