This paper examines the application of the first two principles of the 2005 Paris Declaration on Aid Effectiveness, namely ownership and alignment, to the cases of Mali and Ghana. It argues that Western donors and recipient governments have adopted the Paris Principles mainly in form, rather...

A firm's book equity is a measure of the value held by a firm's ordinary shareholders. Increasingly, it is being reported as a negative number. Because a firm's limited liability structure means that shareholders cannot have negative value, negative book equity has no obvious interpretation....

Nach dem Zusammenbruch des kommunistischen Blocks und dem Ende des Kalten Krieges schien in den frühen 1990er Jahren die Demokratie zu triumphieren. Zahlreiche westliche außenpolitische Entscheidungsträger, Kommentatoren und Wissenschaftler äußerten grenzenlosen Optimismus. Der extremste...

Alfred Cowles' (1934) test of the Dow Theory apparently provided strong evidence against the ability of Wall Street's most famous chartist to forecast the stock market. In this paper, we review Cowles' evidence and find that it supports the contrary conclusion -- that the Dow Theory, as applied...