This paper contributes to the debate on alternative corporate tax schemes, employing a rigorous real option methodology which has never been used to study both liquidation policy and taxation. Different tax systems are considered, according to whether the tax regime is progressive or flat and...

Many African countries experienced significant political transformations in the early 1990s, moving from one-party systems to multipartite regimes. In line with the literature that links policy choices to political regimes, the paper explores the implications of such changes on the cyclical...

Intergenerational income mobility affects equal opportunity norms and it is very important to analyse the extent to which income status passed from generation to generation. This paper is focused on the study of intergenerational transmission of socio-economic status in Spain using data from the...

This paper examines the effects of political institutions, openness to trade, and social cohesion on development in fragile states. The empirical results indicate that beyond a certain level, openness to trade may actually be harmful to income, particularly in countries with high export...

In the German wastewater sector, innovations are often regarded to be the key to better service provision. Our focus is on the question of whether less direct control by the authorities does improve the innovativeness of providers of wastewater services. On the basis of data from a survey among...

The study analyzes the impact of foreign direct investment (FDI) and domestic investment (DI) on economic growth in Sub-Saharan Africa for the period 1990-2003. The results show that DI is positive and significantly correlated with economic growth in both the OLS and fixed effects estimation,...

This paper deals with the effects of EMU enlargement (European Economic and Monetary Union) by evaluating the economic efficiency of growth policies of the 25 member countries. By using Data Envelopment Window Analysis the paper measures the policies adopted initiating economic growth of the 25...

The impact of a program or policy intervention is influenced by the impact synergies from other programs and policies, and by the role of underlying institutions. This fact, though known, has not been formally treated in existing literature. This paper addresses this gap by developing a...

Recently, many countries have introduced systems of tradable green certificates (TGCs) in order to increase the proportion of their electricity supply obtained from renewable sources. The main objective of this paper is to investigate the analytics of a TGC system of the Nordic type when...

The biotechnology industry has the potential to add economic spillover effects to a national economy but heavy investment and systematic planning are required. In 2007, Korea started the second stage of an ambitious government-led program, Bio Vision 2016, which is aimed to create an extended...