Relative deprivation (RD), also known as relative poverty , an idea implicitly put forward by Adam Smith in The Wealth of Nations and formally conceptualized by Runciman (1966), refers to the discontent people feel when they compare their positions to others and realize that others in the group...

As one of the numerous merits brought by global financial integration, foreign direct investment (FDI) plays an indispensable role in fostering economic growth in the developing world. Different from previous literatures which concentrate on discussing the FDI productivity spillover effect, the...

This study aims to assess the microfinance institutions’ (MFIs’) efficiency in the West African Economic and Monetary Union (WAEMU) after the reforms that were undertaken in the industry. Given the complementary role between MFIs and banks (where MFIs reach the population that the banks...

Despite the plethora of efficiency studies in the banking literature, there is no consensus on the preferred approach for the empirical estimation of the frontier (production, cost, profit etc.) of fully efficient firms. The present paper aims to provide an overview of this promising alternative...

In this study, we examine the wealth effects of regulatory changes intended to improve corporate governance by protecting minority shareholders from expropriation by controlling shareholders. Using data from publicly traded Chinese firms, we find that these new regulations significantly...

Undervaluation of the currency is generally believed to affect growth through two main transmission channels: the “capital accumulation channel” and the “total factor productivity (TFP) growth channel”. This paper carries out the first empirical investigation on the TFP growth channel....

Over the past decades great changes have taken place in the economic environment worldwide regarding the foreign direct investment (F.D.I.). However, some of the developing countries have managed to gain more F.D.I. compared to other developing countries via skills acquisition, competition,...

A model of the economic system with the property rights distributed among several agents is considered. The effect of property rights allocation on the economic efficiency of the management strategies is studied.

The failure to advance the multilateral trade negotiations of the World Trade Organization (WTO) was a disruption for the international trading system. Alternatively, many countries have commenced to establish bilateral and regional Free Trade Agreements (FTA). Among those agreements the...

As Western firms jostle to exploit the opportunities that the world’s largest and fastest-growing economy can provide, there is a recognised need for caution, timely advice and sage wisdom.Our review seeks to make its contribution against this backdrop. Using an interpretive framework that...