In this paper we study the impact of more transparency in the interbank market on the volume of bank intermediated loans and on the profitability of the banking business. Transparency is modeled by means of the informational content of publicly observable signals correlated to the random...

The competitive allocation of labor across different sectors of an economy may not be socially optimal when one sector uses foreign capital. We argue that a suitably designed government intervention is required to restrict the sectors to their optimal size and maximize national welfare. Such a...

This paper examines the impacts of globalization on small countries, covering the main features of globalization, the quality of national economic and commercial environment, main characteristics of small countries including important facts and concrete indicators for their development, and...