This paper analyzes the economic growth for Spain, the Basque Country (and its three historic territories), Navarre, and Madrid since 1965. Overall, capital and total factor productivity (TFP) growth were the main engines of output growth since 1965. Three different periods are characterized....

In this paper, we employ a portfolio approach based on a two-country world to study the impact of financial openness on the size of government and on other key economic variables, including the consumption-wealth ratio, the growth rate of wealth, and welfare (assuming that public spending is...

This paper analyzes the relationship between the net foreign asset position of a country, and government size and consumption–wealth ratio in a stochastically growing small open economy. The model suggests that more indebted countries are associated with bigger governments when...

This paper estimates the Marginal Abatement Cost Curve (MACC) of CO2 emissions in China based on a provincial panel for the period of 2001-2010. The provincial marginal abatement cost (MAC) of CO2 emissions is estimated using a parameterized directional output distance function. Four types of...

This paper looks at the importance of CSR considerations in the decision taken by a foreign affiliate of a multinational company about the choice of local suppliers. We investigate this empirically using unique firm level data for more than 2,000 foreign owned firms in 19 Sub-Saharan African...

We investigate whether recoveries following normal recessions differ from recoveries following recessions that are associated with either banking crises or housing crises. Using a parametric panel framework that allows for a bounce-back in the level of output during the recovery, we find that...

Since Nobel Peace Laureate Muhammad Yunus first began launching joint ventures with multinational corporations (MNCs) in Bangladesh, his social business concept has received international attention. What's the meaning of social business? What can it contribute to poverty reduction, and how does...

At the turn of the year 2012/2013 the Eurogroup and the European Commission heralded the message that the worst crisis in Greece would be over. According to this message, the Greek government had delivered the promised steps of structural and fiscal reforms and had agreed with a tough timetable...

[A new chapter of the Greek crisis?] Already at the turn of the year 2012/2013 the Eurogroup and the European Commission heralded the message that the worst crisis in Greece would be over. According to this message, the Greek government had delivered the promised steps of structural and fiscal...