The paper proposes a technique to jointly tests for groupings of unknown size in the cross sectional dimension of a panel and estimates the parameters of each group, and applies it to identifying convergence clubs in income per-capita. The approach uses the predictive density of the data,...

Frankreich befand sich lange Zeit in einem klimapolitischen ?Teufelskreis, in dem sich mangelnde Information und mangelndes Interesse gegenseitig verschärften? (Brodhag 1997). Dazu trug die enge Verquickung zwischen Bürokratie und wirtschaftlichen Interessengruppen sowie die zentralistische...

This article examines the location choices of cross-border Mergers and Acquisitions (M&A) between OECD members´ firms in the 1990`s. In addition to traditional determinants of FDI, we estimate the impact of specific factors affecting the M&A location pattern. Two distinct econometric methods...

In recent years, there has been a slow but steady change in ownership structures and corporate governance in Japan. As a result of economic stagnation, relations between companies characterised by cross-shareholdings and the main-bank system have become less rigid and institutional investors...

The question of the state and the evolution of protectionism often gets a simplified answer: The main view is that the GATT Rounds have been achieving a continuous reduction. This view is partly revised based on four propositions: (1) Protectionism is an integral part of the international...

So far, the dominant paradigm in international climate policy has been mitigation while adaptation has been a low-key issue. However, with LDCs starting to push for adaptation side payments it has recently gained importance. The allocation of funds and the definition of adaptation activities are...

This paper takes a welfare-view on eastern enlargement of the EU, focusing on incumbent countries. Enlargement is decomposed into three elements: Single-market integration on commodity markets, budgetary costs from EU-expenditure policies, and singlemarket- induced migration from new to present...

It is widely recognised that public-sector purchasers tend to discriminate in favour of domestic suppliers. We study the consequences of home-biased public procurement on international specialisation. In the theoretical analysis we find two effects. First, a country will specialise in the sector...

One of the most prominent instruments of regional policy is to foster education and human capital formation in economically lagging regions. However, regional policy of this type can actually hurt instead of help the poor areas. The reason is that individual geographical mobility increases with...

This paper argues that global games need global rules. Times of globalisation call for an international framework to regulate efficiently international movements of people. More than ever before, migration is a global phenomenon. This paper discusses the economic necessity of a shift from...