This paper examines the technical efficiency of the Spanish textile industry for the period 1995-2005, by estimating a stochastic production function. The empirical findings show that in the first half of the period most of the textile groups displayed high levels of efficiency, which can be...

"Ninety-nine percent of Filipinos are waiting for a telephone and the other one percent for a dial tone…” - Lee Kuan Yew, November 1992. A decade after the above "e, far reaching reforms in the telecommunications sector has dramatically changed the situation in both the Philippines and...

International portfolio management is influenced by the existence of "frictions", factors or events that interfere with trade, which are linked in financial literature to market-specific factors, such as available information, restrictions, investor protection, or market liquidity. Given the...