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Foreign direct investment in transition economies: An option approach to sovereign risk

Moretto, Michele; Valbonesi, Paola - 1997

At the start of the transition process in previously centrally planned economies the inflow of foreign capital was considered one of the main factors that allows the reduction of the economic and social costs of transformation. However, in practice, the role of foreign capital has appeared to be...

Persistent link: https://www.econbiz.de/10011608324

Valuing mangrove-fishery linkages: A case study of Campeche, Mexico

Barbier, Edward B.; Strand, Ivar E. - 1997

This paper explores the value of mangrove systems as a breeding and nursery habitat for off-shore fisheries, focusing on mangrove-shrimp production linkages in Campeche State, Mexico. We develop an open access fishery model to account explicitly for the effect of mangrove area on carrying...

Persistent link: https://www.econbiz.de/10011608326

Sustainable greenhouse policies: The role of non-CO 2 gases

Michaelis, Peter - 1997

This paper investigates the economic implications of a comprehensive approach to sustainable greenhouse policies that strives to stabilise the atmospheric concentration of the five major greenhouse gases at an ecologically determined threshold level. In a theoretical optimisation model...

Persistent link: https://www.econbiz.de/10011608327

The uncertain benefits of environmental reform in open economies

Karp, Larry S.; Zhao, Jinhua; Sacheti, Sandeep - 1997

We compare the instantaneous and the long run effects of environmental reform in closed and open economies. Harmonization upward (decreasing distortions where they are most severe) or harmonization downward (increasing distortions where they are less severe), both tend to increase instantaneous...

Persistent link: https://www.econbiz.de/10011608329

Trade in differentiated product, trading regimes and unemployment

Moutos, Thomas - 1997

One of the most important consequences of the transition in Central and Eastern Europe has been the dismantling of the Council for Mutual Economic Assistance (CMEA). It is argued in this paper that the abrupt loss of trading partners for the former CMEA countries and the Newly Independent States...

Persistent link: https://www.econbiz.de/10011608330

Negotiating greenhouse abatement and the theory of public goods

Hinchy, Michael D.; Fisher, Brian S. - 1997

In this paper, the problem of negotiating an abatement agreement is approached from the perspective of the theory of …

Persistent link: https://www.econbiz.de/10011608331

Self-regulation of pollution: The role of market structure and consumer information

Garvie, Devon A. - 1997

A Cournot-Nash oligopoly model is used to study self-regulation of industrial pollution emissions. Consumers have environmental preferences such that demand is decreasing in their knowledge of industrial emissions. Symmetric firms choose output and emission control input levels. Under...

Persistent link: https://www.econbiz.de/10011608332

Pyramidal groups and external finance: An empirical investigation

Bianco, Magda; Casavola, Paola; Ferrando, Annalisa - 1997

In Italy an extremely large number of companies is organized as a pyramidal group. As compared to other control structures, pyramidal groups might offer minority shareholders less protection and hence discourage them from holding shares. We evaluate empirically the impact of some variables that...

Persistent link: https://www.econbiz.de/10011608334

Endogenous uncertainty: A unified view of market volatility

Kurz, Mordecai - 1997

The purpose of this paper is to provide a non-technical exposition of the main conclusions of the theory of Rational … Belief Equilibrium (RBE) for market volatility. It is argued that the theory of Rational Belief Equilibria (RBE) provides a … uncertainty is propagated within the economy (hence "endogenous") by the beliefs of the agents who trade assets. The theory of RBE …

Persistent link: https://www.econbiz.de/10011608344

Endogenous allocation of the exit option between workers and shareholders

Moretto, Michele; Rossini, Gianpaolo - 1997

We deal with efficient allocation of the shut-down decision of a firm in which there is profit sharing. The paper can be considered as a complement to the literature on the endogenous ownership structure of the firm. We examine a variety of cases according to both different schemes of layoff...

Persistent link: https://www.econbiz.de/10011608348