This paper attempts to investigate empirically whether financial and macroeconomic stability of economies are significantly affected by the structure of their financial systems, viz., bank-based and market-based structures. Using panel data estimations based on data from 82 countries for the...

This research builds on previous studies in the field of financial structure and develops knowledge for the construction industry in eight selected countries in Central and Eastern Europe - Visegrád Group, Austria, Bulgaria, Slovenia, and Romania. The aim of the research is to examine the...

Cedefop's work on qualifications frameworks dates back to 2003. The Centre has contributed to the conceptual development of the European Qualifications Framework (EQF) and has supported its further implementation, working alongside national authorities and stakeholders to introduce and develop...

The Spanish qualifications framework for lifelong learning (Marco Español de Cualificaciones, MECU) was adopted in 2022 as a royal decree. In 2024, it was referenced to the EQF. It is structured into eight levels and includes all levels and types of formal education and training. It is in the...

The Norwegian NQF for lifelong learning (Nasjonalt kvalifikasjonsrammeverk for livslang læring NKR) was referenced to the EQF in 2014, alongside its self-certification to the qualifications frameworks in the European higher education area (QF-EHEA). It is structured into seven levels and...

Adopted in 2012, the Bulgarian qualifications framework for lifelong learning (BQF - Национална квалификационна рамка за учене през целия живот - НКР) is a comprehensive, eight-level framework with an additional preparatory level 0. It...

The capital structure appears to be one of the most researched and the most controversial areas in modern corporate finance. Prior literature on determinants of capital structure has concentrated on firm and country level factors by employing static modeling. Static modeling has certain...

This article employs a dynamic stochastic general equilibrium framework to examine asymmetric information and limited contract enforcement in financial markets, where firms have access to both internal and external sources of finance. It considers limited enforcement of financial contract in the...