The global integration of financial and capital markets has never been as advanced as it was at the end of the 2000s. Almost all countries have liberalised their capital markets and opened them for international investors. However, this has not contributed to a substantive improvement of capital...

The international financial crisis has shaken the confidence in the competence of financial supervisory authorities. In the light of massive system failures, the principles of financial supervision should be fundamentally revised. The experience of the current crisis has led to the consensus...

The self-financing capacity of Austrian manufacturing industry attained a record high with the cash-flow ratio reaching 34 percent. The cyclical boom improved the profit situation in all major sectors. Strong investment activity boosted revenues particularly of producers of advanced technical...

The earning capacity of Austrian manufacturing industry, as regularly assessed and analyzed by WIFO, has remained stable in 1996. The cash-flow/sales ratio stood at 9½ percent, maintaining the year-earlier level. The beginning cyclical recovery in the second semester, favorable exchange rate...

The employment-output equation constitutes one of the econometric bases for short and medium-term employment forecasts in manufacturing. It is based on theoretical considerations which postulate a relation between expectations held by enterprises regarding output and the level of employment....

The economic policy issue which is central in this article is as follows: Does welfare economics provide a convincing theoretical rationale for favoring local strategic ownership? If so, one has to look for theoretical concepts which do not directly involve the concepts of power and interest...

The 1992 business cycle downturn led to a marked profit squeeze in Austrian manufacturing industry. The cash-flow ratio fell to 25.5 percent of value added, its lowest level since the mid eighties. The decline extended to all major sectors, concentrating on the manufacturing of basic goods. The...

The latest international financial crisis that started in the US real estate market has shaken the confidence in the capacity of the modern banking and financial system to function and to withstand crises. In the light of this massive system failure, the conviction is becoming widespread in...

Results of the 1988 Census of Non-Agricultural Enterprises carried out by the Austrian Central Statistical Office confirm that differences in profitability, cyclical sensitivity and structural adjustment related to firm size persisted during the 1980ies. Small and medium-size enterprises exhibit...