This paper presents a new empirical methodology for evaluation of the institutional system's development in transition economies and the impact it has on economic performance. We have developed and used a methodology of estimation of an operational indicator of institutional system dynamics to...

The paper tests the democratization-development hypothesis, namely that democratization has a positive impact on growth, economic development and changes in well-being. We employ a probit model to estimate the probabilistic indicator for democracy for a large sample of countries. Panel...

The paper tests <i>the democratization-development hypothesis</i>, namely that democratization has a positive impact on growth, economic development and changes in well-being. We employ a probit model to estimate the probabilistic indicator for democracy for a large sample of countries. Panel...

Is there any interrelationship between firm level FDI in the form of cross border Mergers & Acquisitions and capital markets growth and quality? We addressed this question using panel data of cross border M&A for nine emerging economies. Our study period goes from 1987 to 2006. We find that the...

In this paper we propose an empirical model that considers theoretical facts on the relationship between real exchange rates and the net exports of the economy to supplement the interaction of a number of financial and economic factors with the stock market. We discuss the impact of exchange...

The objective of this paper is to examine whether FDI inflows in South & East Asian economies posses any barriers which are deterring to attract FDI of their actual potential? If so, what are those various set of barriers? These questions are addressed in this study using cross section time...

Is there any interrelationship between firm level FDI in the form of cross border Mergers & Acquisitions and capital markets growth and quality? We addressed this question using panel data of cross border M&A for nine emerging economies. Our study period goes from 1987 to 2006. We find that the...

En el presente trabajo discutimos las lagunas regulativas existentes en los mercados financieros y proponemos cambios que han de garantizar una información simétrica, transparente y eficaz. En los últimos años hemos asistido tanto a diversos escándalos contables como de gobierno corporativo...

A vast number of studies addressed the environmental degradation and economic development but not financial development. Moreover, as argued by Stern [2004. The rise and fall of the environmental Kuznets curve. World Development 32, 1419-1439] they present important econometric weaknesses. Using...