This article argues that the recent financial crisis was caused largely by the long-term problem of the current world economy lacking a sustainable path of development. Limits to growth – expressed principally through rises in the price of oil and other commodities – created a crisis for the...

This article recognises that the Mexican financial crisis of 1982 marked a turning point in the country's development. The crisis followed a period of steady economic growth. Since then, the entrepreneurial state has been under steady attack by members of a new business elite, who are direct...

There are significant effects of changing demographics on economic indicators: growth in GDP especially, but also the current account balance and gross capital formation. The 15-24 age group appears to be one of the key age groups in these effects, with increases in that age group exerting...

This paper examines the impact of Federal Funds rate (FFR) surprises on stock returns in the United States over the period 1989-2009, focusing on the impact of the recent financial crisis. We find that prior to the crisis, stock prices increased as a response to unexpected FFR cuts. State...

In a period of time in which companies still experience the effects of the financial crisis and are hardly recovering their position held prior to it, it is important for an investor (and for the company itself) to determine to which extent these are capable, along with a satisfactory...

This paper assesses and tests the response of banks operating in the financial centres to the financial crisis in terms of the actual productivity change and its main components: the pure efficiency change, scale efficiency change and technological change (innovation). The heterogeneity in the...

Diversified and focused business models may affect foreign bank efficiency differently in branches or subsidiaries. We investigate whether there is a unique optimal business model in three dimensions: assets, funding and income. We apply recently developed bootstrap methods to estimate group...

This paper analyses the impact of the Global Financial Crisis on the Bolivian economy. The PEP 1-1 Standard Model has been employed to analyze the effects of a reduction in (i) the world export prices of mining and agriculture, (ii) the world demand of textiles, and (iii) transfers to households...

We develop a dynamic stochastic full equilibrium New Keynesian model of two open economies based on stochastic differential equations to analyse the interdependence between monetary policy and financial markets in the context of the recent Financial crisis. The effect of bubbles on stock and...

The present day international crisis is raising major concerns about the future of the world economic outlook, especially as it relates to international investment. In the short term, the negative impact of the present economic recession on global FDI prospects seems to be the dominant one....