The more a country saves, the less it invests as a share of saving. We build a “store-or-sow” model of growth with precautionary saving and investment to study the nonlinear relationship between investment and saving. We contend that income volatility is an important variable for explaining...

The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period...

This thesis aims to contribute to monetary policy studies by conducting fundamental research and gathering empirical evidence on the effectiveness of monetary policy in the U.S., U.K., Germany and Japan. The financial crisis in 2007/08 highlighted the weakness of using nominal interest rates as...

The three essays in this dissertation examine issues related to corporate governance, investment, and financing. In the first essay, I analyze the consequences of CEO succession on board composition. I show that existing independent directors with no social ties to an incoming CEO are more...

In recent time, technology applications in different fields, especially Business Intelligence (BI) have been developed rapidly and considered to be one of the most significant uses of information technology with special position reserved. The application of BI systems provides organizations with...