Accelerating economic growth and poverty reduction are and continue to be the critical policy challenges in Ethiopia. The sluggish growth in agriculture coupled with lack of broad-based economic growth raises debates over the relevant direction and emphasis of development interventions in the...

Corporate bonds expose the investor to credit risk, which will be reflected in the credit spread. Based on the EMU Broad Market indices, we study the inter-temporal stability of the covariance and correlation matrices of credit spread changes. Within a multivariate framework, the Box and...

We study the effect of expected regulatory and litigation costs embedded in a country’s institutional environment on the explanatory content of management commentary reports. Using a behavioural accountability lens, we argue that regulatory control and expected litigation risk affect the...

The interaction of monetary and fiscal policies is a crucial issue in a highly integrated economic area as the European Union. We investigate to which extent the EMU, that introduced a common monetary policy and restrictions on fiscal policy at the national level, benefits from macroeconomic...

Regulators have recently shown an increased sensitivity to the issue of price squeezes, especially telecom regulators in European countries. This paper analyzes the relevance and the scope of price squeeze tests as proposed by practitioners and economists, taking the existing regulatory...

Poland was among the first Eastern European countries to apply for membership of the European Union. In view of Poland’s tragic history and the economic liberalisation that has taken place since 1989, we believe that the EU should adopt a generous approach toward its application. Unfortunately...

Blocking systems with zero buffers are typical for (semi-)process industries. They have not only th characteristics of limited buffer systems, but if buffer sizes are zero, the equipment is often used as temporary storage. This cause the effective utilization to be higher than the natural...