Der Länderindex Familienunternehmen 2024 vergleicht zum zehnten Mal seit 2006 die Standortbedingungen für Familienunternehmen in den wichtigsten Industrieländern. Konzeptionell orientiert sich der Standortvergleich an den Faktoren, die für die Geschäftsmodelle großer Familienunternehmen...

The economic literature has long attributed non-zero expected excess returns in currency markets to time-varying risk premiums demanded by risk-averse investors. This paper, building on Bacchetta and van Wincoop's (2021) portfolio balance framework, shows that such returns can also arise when...

Purpose The paper aims to investigate the effect of GDP growth on crime and to test the hypothesis of nonlinearity. Additionally, we estimate the interaction between GDP and income inequality and examine its impact on the relationship between GDP and homicide rates. Design/methodology/approach...

The present article is an introduction to the special issue of the PSL Quarterly Review organized by José Luis Oreiro (University of Brasília) and Giulio Guarini (Tuscia University) with a selection of the best articles presented in the IV International Workshop of the Structualist Development...

This study examines the out-of-sample predictability of expected skewness of oil price returns, which serves as a metric for global future risks, as we show statistically through the association with crises of different nature, for stock returns of 10 (8 advanced plus two emerging) countries...

The period after the Global Financial Crisis (GFC) was characterized by a considerable risk migration within global liquidity flows, away from cross-border bank lending towards international bond issuance. We show that the post-GFC shifts in the risk sensitivities of global liquidity flows are...

After earlier strategies for Denmark's development cooperation from 1993, 2000, 2010, 2012 and 2017, the latest strategy, The World We Share, from 2021 now expires, and a new is accordingly(?) needed. The parliament will start negotiating the strategy in May 2025. One may fear that it will be in...

This study analyzes the spillover effects of economic and political uncertainty from advanced, emerging and low-income economies on stock returns in Vietnam based on a firm-level approach. After controlling for firm-level and country-level factors and addressing potential endogeneity issues, we...

This paper investigates the cyclicality of international reserves and their role in macroeconomic stabilization. We challenge two widely held assumptions: (1) central banks typically manage IR counter-cyclically—accumulating reserves during booms and drawing them down during downturns; and (2)...

A slanted-L curve is well-suited to represent the non-linearity of the celebrated Phillips curve. We show this using cross-country data of major industrialized economies since 2009, including the inflationary surge of the 2020s. At high unemployment rates, an increase in demand reduces...

In the wake of the COVID-19 pandemic, numerous high-income countries encountered heightened vacancy rates and labour shortages, which persisted into 2023. This paper examines the dynamics underlying labour market fluctuations in advanced economies, such as cyclical movements, structural shifts...

This study compares the Zambian and NICs manufacturing finance models to identify their similarities and differences with a view to enhance Zambia's manufacturing finance and consequently manufacturing development. It applies structural equation modelling on a merged dataset and contrasts four...

Aim: The study evaluated the impact of devaluation and goods price variation on trade flows in a sample of 47 countries consisting of developing and developed nations from 1990 to 2023. Design/Research methods: The estimation techniques adopted in this work are the Panel Structural VAR (PSVAR),...

The welfare effects of government redistributive policy have been subject to considerable debate for decades. Against this background, this study explores the effect of government social spending on an empirically constructed measure of well-being in a panel of 16 upper middle-income countries...

Die Mobilfunknetzbetreiber stehen vor der Herausforderung, das knappe zugeteilte Frequenzportfolio für den drahtlosen Netzzugang für alle eingesetzten Mobilfunkstandards betriebswirtschaftlich effizient zu nutzen. Aufgrund der technologieneutralen Nutzungsbestimmungen der Frequenzen können...

A workshop held on 19 March 2024 addressed issues affecting developing countries' economic situation, and how it is shaped by policies and global governance. Key subjects include the International Monetary Fund and its policies, taxes and sovereign debt. Several experts addressed different...

The effect of exchange rate regimes on economic performance is one of the key questions in international economics, both academically and policy-wise. Based on the theory of Optimum Currency Areas (OCA), we examine how labor market regulations affect the relationship between exchange rate...

This paper examines how monetary and macroprudential policies interact and possibly complement each other in achieving their respective price and financial stability objectives. We first review the Canadian experience of housing market cycles and highlight the need to coordinate the two sets of...

This paper analyzes the dynamic asymmetric effects of digitization on domestic inflation for a sample of 54 advanced economies (AEs) and emerging markets (EMs) over the period 2004-2018. Using Katz and Calorda's Digital Ecosystem Development Index and employing the system Generalized Method of...

Purpose This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and undeveloped economies. Design/methodology/approach A dynamic panel with 131 countries, including developed and...

The shock of the pandemic and subsequent overlapping crises has led to a reversal in development by exacerbating the challenges facing the most vulnerable 75 economies eligible for concessional loans and grants from the World Bank's International Development Association (IDA). Over 2020-24, per...

Income and wealth inequality are increasing in most advanced economies. At the same time, social safety nets are eroding. Together, these trends can create inclusion gaps, where certain socio-economic or socio-demographic groups have inadequate protection against financial risk. This Geneva...

Purpose: The digitisation of economies and finance shows the importance of digital transformation (DT) in helping countries, markets and institutions to remain competitive. The changes brought about are not only technological in nature in certain market niches but affect the globality of a...

Purpose The primary objective of this paper is to explore the robust determinants influencing the infection rate and case mortality rate of COVID-19 in both developing and developed economies. The analysis is conducted using a dataset encompassing 148 countries. Design/methodology/approach To...

Economic growth has been a fundamental policy objective for countries throughout history. It sig-nifies an enhancement in a country's well-being and income levels. Education also plays a significant role in economic development and welfare improvement. This study aims to empirically examine and...

Men die at higher rates in nearly all places and at all ages beyond age 45. Using World Health Organization excess mortality estimates by sex and age groups for 75 countries in 2020 and 62 countries in 2021, this paper analyzes how patterns of excess mortality varied by sex and age groups across...