In 2003, domestic and external factors in Norway slowed real GDP growth to an estimated 0.5 percent. With inflation pressures waning, Norges Bank cut interest rates aggressively. The non-oil fiscal position has deteriorated somewhat over the past two years, only partly reflecting the cycle....

This paper examines the characteristics and performance of Japanese foreign direct investment in Africa. A large sample of 1062 Japanese subsidiaries in Africa was analysed. Our findings reveal that: efficiency and market seeking was the common purposes for Japanese firms in Africa; the Japanese...

A new dynamic criterion for measuring the performance of self-financing investment strategies is introduced. To this aim, a family of stochastic processes defined on [0, ∞) and indexed by a wealth argument is used. Optimality is associated with their martingale property along the optimal...

The paper is dedicated to the discussion of investment as a main promoter of economic development in conditions of risk and uncertainty. In the context of the topic of research this article has as particular interest the analysis of the performances and potential of the economy of the Republic...

Using monthly active equity fund portfolio holdings, we examine the magnitude of style drift and decompose it into active and passive components. We find that while fund style tilts are consistent with their self-stated investment objective, there is variation in the degree of style bias within...