The Republic of Bulgaria has been a Member State of the European Union since 2007. Its economic development has been framed by a Currency Board Arrangement (binding the national currency to the euro) since 1997. Recent development is characterised by slow economic growth. Preliminary GDP data...

Given the decline in growth momentum in the manufacturing sector in many OECD countries, the role of knowledge-based capital has emerged as a key driver for sustained growth. While empirical studies on estimating knowledge spillovers have usually been undertaken at the country level, the...

Purpose – The purpose of this paper is to examine the historical trajectory of African management research and managerial thinking. Design/methodology/approach – This paper draws from a review and synthesis of the literature from 1960–2012. Findings – The analysis led to the...

Purpose – While in developed economies, changes in monetary policy affect real economic activity in the short-run but only prices in the long-run, the question of whether these tendencies apply to developing countries remains open to debate. In this paper, we examine the effects of monetary...

The aim of this paper is to study empirically the patenting propensity at the European regional level. To do that we use the OECD-REGPAT dataset, that includes patent applications made by European inventors and applicants to EPO in the time-span 1978-2011. Explanatory variables on R&D and human...

Despite over three decades of Liberalisation policies in Africa, income-inequality has stayed persistently high. Using updated panel data of 26 African countries spanning the period 1996-2010, this study examines the effect of liberalisation policies with particular focus on financial, trade,...

The debate by Okada & Samreth (2012, EL) and Asongu (2012, EB; 2013, EEL) on ‘the effect of foreign aid on corruption’ in its current state has the shortcoming of modeling corruption as a direct effect of development assistance. This note extends the debate by assessing the channels of foreign...

Purpose – A major lesson of the EMU crisis is that serious disequilibria in a monetary union result from arrangements not designed to be robust to a variety of shocks. With the specter of this crisis looming substantially and scarring existing monetary zones, the present study has complemented...

This response document will briefly address concerns about the ethical, legal and methodological flaws with past research informing aspects of present PEPFAR program areas; concerns about adverse consequences of PEPFAR program areas; and concerns about the absence of oversight of the activities...

Inflation has been the major global economic problem for most economies throughout the world over the last three decades. It affects individuals, businesses and governments. Many competing hypotheses have been advanced in the literature to explain its causes and give the appropriate remedial...