This contribution examines the mechanisms for inducing compliance with international norms and rules as one major form of institutional effects. More specifically, it tackles the process from norm recognition to norm compliance. Two social logics of institutional impact are distinguished. They...

The global integration of financial markets has been accompanied by a transformation of their governance structures. Private intermediary organisations now play a more important role than in the past. A prominent example is provided by the commercial credit rating agencies that have established...

The political power of non-state actors (NSAs) remains a contested issue, as the continuing debates between neo-realists and transnationalists within the Study of International Relations (SIR) show. This paper builds on as well as tries to transcend this debate. Its objective is to bring more...

Do financial market analysts use structural economic models when forecasting exchange rates? This is the leading question analysed in this apper. In contrast to other studies we use expectations instead of realised data. Therefore we analyse the implicit structural models forecasters have in...

By applying SEMIFAR models (Beran, 1999), we examine 'long memory' in the volatility of worldwide stock market indices. Our analysis yields strong evidence of 'long memory' in stock market volatility, either in terms of stochastic long-range dependence or in form of deterministic trends. In some...

We use several well-being measures that combine average income with a measure of inequality to undertake international, intertemporal, and global comparisons of well-being. The conclusions emerging from the analysis are that our well-being measures drastically change our impression of levels of...