A company’s performance significantly depends on how well a company manages its finances keeping in view the short term hurdles and long term goals. One objective of financial statement analysis is to determine firm value. Research suggests that a firm’s value is a function of the...

The present paper is motivated by the interest of a more thorough analysis of the determinants of remittances for developing countries. Thus, a simple formal remittance behaviour model is provided in which the amounts of the sums transferred are negatively related to the migrants’ individual...

The objective is the establishment of credit lines ruled on the Agreement on Reciprocal Payments and Credits, an international agreement signed by twelve Latin America central banks for trade in the early 1980s. A description of the multilateral system of payments and a study of the bilateral...

MODERN MONETARY THEORY (MMT) notes correctly that money is a creature of the state, and that important macroeconomic and policy conclusions follow from this understanding, e.g., sovereign states are not revenue constrained and spending is primarily limited by inflation. Taxes give value to state...

The aim of this paper is to analyze the spillover effects of national and local tax policies in Argentina. To this aim, I develop a static bi-regional general equilibrium model for the Buenos Aires City (CABA) and the rest of Argentina. The BAC is relevant for the rest of the country because it...

One of the persistent, unresolved controversies of economic development is the effectiveness of development assistance —whether foreign aid contributes to economic development. This article argues that this controversy is largely an artifact of a methodology that focuses on the “averages”...

The central notion of the natural trading partner hypothesis is that a Free Trade Agreement (FTA) will be welfare enhancing for members if there is a strong level of bilateral trade complementarity among their trade structures. This paper presents an empirical examination of this issue with...

In this paper we consider the existing scheme of communal solid waste handling in St. Petersburg. We assess the efficiency of the scheme by social, ecological and economic criteria. The results of this assessment allow us to conclude that all stages of communal solid waste handling in the city...

The firm growth dynamics is an important topic since the growth performance of firms is the main source of the economic growth in countries. Generally, crises produce a sharp decline in firms’ growth and this leads to a decline in both the level of employment and the income of households. This...

This is a prepublication version of the paper published in Review of Political Economy Volume 26, 2010 (http://www.emeraldinsight.com/books.htm?issn=0161-7230&volume=26). It should be cited as Freeman, A. (2010). ‘Crisis and “law of motion” in economics: a critique of positivist...