The main purpose of this research is to examine profitability determinants in the Middle Eastern banking systems. In particular, the impact of bank-specific and macroeconomic factors on bank profitability is examined. Using both the OLS and the GMM techniques, the results show the persistence of...

The empirical analysis of fish markets always reveals strong price dispersion for homogeneous or very similar goods. The problem is how to explain this price dispersion on a market where there is no evident arbitrage. Explanations proposed by different authors include differences in...

Applying GMM (Arellano and Bond, 1991) to panel data of 90 countries spanning over 1992–2006, this paper explores possible relationships between military expenditure and economic growth. Based on the definitions of income levels by the World Bank – high, middle and low – our results...

Financial development has a major role in the sustainable economic growth of Central and Eastern European emerging countries, particularly after their political and structural changes. These changes required a reform of financial sectors of these countries, such as capital market development,...

Affective habituation is well-documented in social sciences: people seem to adapt to many life events, ranging from lottery windfalls to terminal illnesses. A group of studies have tried to measure habituation by seeing how lagged values of life events affect present happiness. We propose an...