We define ‘failing states’ are those low-income states in which policy and governance is persistently very bad. We develop a theory of reform in these states in which several characteristics of the society might potentially be the binding constraint on change. We then introduce aid,...

Analyse l'épargne mondiale et explore les voies qui permettraient d'améliorer le fonctionnement des marchés boursiers et financiers, afin de rééquilibrer le partage de l'épargne entre Etats-Unis, Europe et pays pauvres et d'assurer un développement plus équitable au niveau mondial....

In Turkey, between 1994 and 2005, growth has been pro-poor in terms of rate of growth of income, but not in absolute values. This result is debatable. Firstly because the poorest (centiles 0 to 20) did increase more than the average their expenditures on health and education, which should be...

The European Union was created to promote economic, cultural, and regional prosperity. However, the Global Financial Crisis demonstrates that its economic institutions are flawed. While each sovereign state in the Eurozone forfeits the control of its money supply, the lack of a common fiscal...

Purpose – This paper focuses on the decision by firms to commit and to invest unilaterally. It is concerned with the intriguing question as to whether unilateral commitments are mechanisms that help a firm manage risks in alliance relationships in a proactive manner....

Strategic alliances are characterized by inherent instability arising from uncertainty regarding a partner’s future behaviour and the absence of a higher authority to ensure compliance. Consequently, when firms adopt these strategies, they are confronted with a relational risk. This paper...

Over the past two decades the venture capital industry became a major focus for the financial media. With potential for high rates of return, this industry attracts entrepreneurs looking for opportunities to invest. While some investments are successful and highly publicized, many are not. This...