Offshoring of IT services and back-office services to low-wage countries is a fast-growing market. Besides India, the pacesetter and dominant insourcer, there are numerous other countries and regions attempting to establish themselves as offshoring locations. Our report focuses on nearshoring...

Using CIS data from the Netherlands, Germany and France we test whether EU Framework programs do have effects on their participants' R&D input and innovative output. From our Heckman selection equations, we conclude that the FPs attract the "elite" of European innovators. The question is...

This paper tests the convergence in per-capita carbon dioxide emissions for a collection of developed and developing countries using data spanning the period 1870 to 2002. For this purpose, three recently developed panel unit root tests that permit for dependence among the individual countries...

The Slovenian ministry of finance started to issue treasury bills regularly in 1998. Above all, it has been guided by a long-term interest to develop the money market although the financing ofhquidity and short-term deficit has also been important factor. A developed money market would not only...

This paper gives an overview about the sixteen papers included in this special issue. The papers in this special issue cover a wide range of topics. Such topics include discussing a class of tests for correlation, estimation of realized volatility, modeling time series and continuous-time models...

Using monthly frequency data from 1981 to 2005, we test for the potential mean reversion of Japan-US real exchange rates using newly improved unit root tests allowing for endogenous (unknown) break(s) in the linear as well as non-linear manner. Both countries have contributed vital proportion in...

The intense concentration process taking place in the financial systems of the major countries has attracted substantial attention from stakeholders and academics. The impact of M&A on value creation and efficiency / effectiveness improvements of banks involved appears, on the whole,...

This paper analyzes the impact of an ethanol import tariff in conjunction with a consumption mandate and tax credit. A tax credit alone acts as a subsidy to ethanol producers, equally benefiting exporters like Brazil. If an import tariff is imposed to offset the tax credit, world prices of...

Policymakers would do well to bear in mind the seven lessons that emerge from this overview of modern hyperinflations. Hyperinflations seldom materialize overnight and are usually preceded by a protracted period of high and variable inflation.Stabilization may take years if fiscal policies are...

This article studies foreign direct investment(FDI)from domestic and foreign viewpoints. From a domestic viewpoint, legal, cultural, economic, social, political, and historical constraints to foreign direct investment will be analyzed and necessary solutions will be proposed . In addition, the...