By using three corruption indices, six privatization indicators, and taking the endogeneity problem into consideration, we test the hypothesis that privatization contributes to a decrease in corruption in transition economies. We identified a highly statistically significant and negative...

While voters may punish governments for worsening economic conditions, they may not reward them symmetrically for improving conditions. We examine whether US macroeconomic conditions affect Presidential approval asymmetrically using quarterly data from 1961_I to 2009_II. The results suggest that...

The three versions of the negligence rule discussed in the literature differ regarding whether a negligent injurer is liable for the entire loss or only for the incremental loss; or regarding whether negligence is defined as failure to take at least due care or failure to take a cost-justified...

This paper presents a time-series regression analysis of price inflation at the time of the euro currency changeover in January 2002. Cross-equation tests on 12 euro countries and three non-euro EU countries are used to identify significant price changes around that time. For a small number of...

We investigate the role of physical and social infrastructure in economic growth in India after controlling for other important variables such as investment, labour force, and trade, using the Two-Stage Least Squares (TSLS) and Dynamic Ordinary Least Squares (DOLS) techniques, for the period...

We analyze the relationship between firm-level innovation activities and firms' propensity to start exporting for firms in a small open economy. We measure innovation by innovative effort (R&D) as well as by innovative output (product and process innovation). After carefully correcting for...

We assess the impact on agricultural trade of European Union (EU) trade policies, using a gravity model based on disaggregated trade flows from 161 developing countries (DCs) to 15 EU member countries. We use a sample selection framework to account for potential selection bias of positive trade...

This paper investigates the impact of foreign aid and corruption on the welfare of different classes in an economy that receives aid and uses it to finance a public good. We use a general equilibrium model that consists of three goods and three income classes to derive our results. The most...

Although literature has given considerable attention to the effects of foreign debt on growth, we still know little about its effects on the internal potential for capital formation. Literature suggests a number of channels through which the availability of foreign financing could affect...

This work determines the actuarial cost of delivering a monetary unit of pension in the case of a pay-as-you-go system. The model is also applied to determining the imbalance and the unitary pension cost of the contributory pension system of the Spanish Social Security system. The study covers...