The effect of aid on civil war has been widely debated. In this paper we introduce a new framework to evaluate the effectiveness of aid on conflict. Using proxies for the evolution of conflict we show that over the course of the conflict aid significantly affects the escalation and de-escalation...

This comment is not a typical outcome of a typical research activity, and it not written like one. For example, although I have a list of references, I do not provide a formal literature review. The list is simply an acknowledge of the work that might have influenced my thoughts on the topic at...

This paper provides an extended framework to study general equilibrium theory with commodity spaces possibly of infinite dimensions. Our approach overcomes some difficulties found in the literature since it allows the study of the equilibrium when consumption sets may have an empty interior. It...

As per the conventional wisdom there should be provision for public assistance for skill acquirement for achieving higher economic growth and improving relative wage inequality in the future. However, empirical observations on certain small OECD countries over the period 2000-2011 tell somewhat...

Almost 80 years after the big crash in USA and a new, bigger and more important crisis has appeared in the globalized economy in the middle of 2008. Crisis affects negatively almost all the fields of human life like development, employment, living conditions. One of the states largely affected...

It is often claimed that opinions are more likely to be correct if they are held independently by many individuals. But what does it mean to hold independent opinions? To clarify this condition, we distinguish four notions of probabilistic opinion independence. Which notion applies depends on...

In this paper, the variance-ratio test and the ARMA-GARCH (1,1) are used to test whether the Stock Exchange of Thailand is an efficient market. Using monthly market index during January 1987 and December 2006, the variance-ratio test shows that the market index follows a random walk process, and...

Religious Market Theory assigns basic market principles to the market for religion. The derived supply side model proposes that religiosity is higher on a competitive market, characterized by high religious diversity. Churches will provide higher quality goods compared to monopolistic churches....

This study attempts to estimate the impact of mega sports events organization on the stock market. For this purpose, there were selected seven sporting events taking place in the World Cup and European Football Championships and summer and winter Olympic Games. Next their impact on national...

Fund selection is an important issue for investors. This topic has spawned abundant academic literature. Nonetheless, most of the time, these works concern only active management, whereas many investors, such as institutional investors, prefer to invest in index funds. The tools developed in the...