Owing to the importance of business activities related to electric-power supply and distribution system, ownership structure, the size of assets, infl uence on the supporting industry and development of the Croatian economy, the Croatian Electricity Company (HEP) has always been the subject of...

We investigate the level and volatility effects of real exchange rates on productivity growth of manufacturing firms with heterogeneous access to debt, and domestic and foreign equity markets in Turkey. We find that while volatility affects productivity growth negatively, having access to...

The Millennium Development Goals (MDGs) have lofty expectations regarding the impact of official development aid. Are these expectations valid? This paper surveys the literature on aid and growth. It finds that practically all aid studies since the late 1990s conclude that aid increases economic...

Understanding the development effects of official aid is crucial to building a better bridge between research and policy. This paper reviews the current evidence regarding the impact of aid on growth and poverty reduction, and develops a new narrative. In the light of this narrative, the paper...

Energy access is critical for sustainable development and therefore financing energy access is a necessity. The key is whether to focus on grants or public finance for sustainable development projects or move to a more diffused financing mechanism, involving investment grade financing sources...

In our opinion, the Russian economy may experience the sudden changes in labor supply in future. A labor market could yield not much if a governmental decision on higher permissive retirement age, motivated by a deficit of the Russian Pension Fund but not a higher labor demand, is approved. It...

El objetivo de este trabajo es estudiar los posibles efectos que sobre los gastos de capital de los municipios españoles tendrá la normativa de estabilidad presupuestaria. Dicho análisis se va a realizar para los distintos estratos de población, ya que pueden existir divergencias relevantes...