In 1973 the British academic Ronald Dore published what was to become one of the most influential books ever written in the fields of industrial sociology and Japanese studies. British Factory-Japanese Factory: The Origins of National Diversity in Industrial Relations (Dore, 1973) was a...

This article explores how the recent changes in Cuba, specifically reforming the foreign investing laws (Law No. 118), are likely to affect the future of international franchising in Cuba. Special attention is given to legal reforms, economic impacts, growth of entrepreneurs, and the likelihood...

In this paper, we examine the overall effect of demographic transition on economic growth in the context of globalization. Theoretical foundations are based on the Solow–Swan model extended to include demographic variables. The GDP growth is modeled by using fixed effects unbalanced panel data...

Spanish Abstract: El aumento constante de las inversiones extranjeras durante las últimas décadas ha venido acompañado de un cambio en sus parámetros. El origen de las inversiones varía, como lo hace su naturaleza y destino. La posibilidad de que sectores clave de la economía del Estado...

I present a model that provides a theoretical solution to the Lucas Puzzle using Financial Efficiency, which is a time-varying component of TFP. The model predicts that a financially underdeveloped economy is to benefit from financial integration through FDI capital inflow only if it experiences...

This paper is oriented to study the relationship between demographical factors and international capital flows. We analyse the impact of aging on foreign direct investments (FDI) and foreign portfolio investments (FPI) on a bilateral level. Firstly we present a theoretical foundation of the...

In this paper, we examine how the future age structure of the nation helps explaining the current ratio of FPI over FDI in a country's foreign asset stock. Firstly, we present a theoretical foundation of the relation and then we test it empirically. Theoretical foundations are based on the...

The article analyzes the influence capital inflow, financial development, economic liberalization, and democratization on social capital development. Findings show that the impact of FDI on social capital growth differs from that emanating from portfolio investment, returning negative and...

We demonstrate that the correlation of saving and investment is measured best by an error correction model (ECM), because theory implies a cointegrating relation between these variables. The ECM comprises all previous specifications as special cases, which are shown to be potentially...

Starting from a low level in early 2000s, Turkey’s total capital stock has since expanded rapidly, but the composition and quality of investment raises questions. This study focuses on business investment, as the main driver of physical and knowledge-based capital formation and, hence, of...