To expand our knowledge about an appropriate anti-terror strategy, it is indispensable to assess the underlying causes of terror. We examine social and economic conditions in the country of origin of terrorist attacks, claiming that low opportunity costs of terror, e.g. approximated as slow...

We analyze whether biodiversity is increasing the receipts of tourism and beneficial for Least Developed Countries (LDCs). The underlying assumption is that a rich biodiversity provides a comparative advantage for most LDCs. We use a simple trade theory framework. The model is supported by an...

Between 1990 and 2002 a wave of takeovers was observed in the North American and European energy utilities market. We analyze the impact of these takeovers on market power, studying 70 takeovers of US-American and 69 takeovers of German energy utilities by applying event study methodology. Stock...

According to World Bank policy, countries remain eligible to borrow from the International Bank for Reconstruction and Development until they are able to sustain long-term development without further recourse to Bank financing. Graduation from the Bank is not an automatic consequence of reaching...