Islamic finance—understood as achieving maximum risk sharing—diversifies risk and allows it to be shared widely. Implications that follow are: (i) a close relationship between finance and real economic activities and (ii) the rate of return to finance determined by the rate of return to real...

Entrepreneurship has long been recognized as an important player in the development of Korea's economy. This is clearly demonstrated in the humble beginnings of Korea's giant conglomerates such as Samsung, Hyundai, Posco, and LG that started as small businesses. This research presents analysis...

We investigate the measurement of sociopolitical consensus in direct democracies by means of three novel Consensus Indexes. They are special cases of Approval Consensus Measures, a tool from social choice that evaluates the degree of cohesiveness in a fixed group of agents that vote on a list of...

We use panel cointegration techniques to investigate the causal relationship between CO2 emissions, renewable and non-renewable energy consumption, and trade openness in three different models for a panel of twenty five OECD countries over the period 1980-2009. Also the validity of the...

This empirical study investigates the impact on net state in-migration over the 2000-2003 period of a variety of economic and non-economic factors and thereby serves as a robustness test of previous studies. The empirical estimates indicate that the net state in-migration rate was an increasing...

Although there has been much discussion in the literature about the impacts of farmland loss (due to urbanization) on household livelihoods, no econometric evidence of these effects has been provided thus far. This paper, hence, is the first to quantify the effects of farmland loss on household...

In general the process of implementation of Islamic banking in the Islamic Republic of Iran and Pakistan appears to be proceeding with relative success. However, number of problems have surfaced during the transition period, among which is a tendency for short-term assets to dominate commercial...

An attempt has been made to determine the variables that have a significant bearing on the economic and political institutional quality, taking a sample of member countries of IMF, especially focusing on the programme countries and prolonged users, during 1980-2012. Main results point towards a...

When there are three parties, it is well known that the Coase Theorem may not hold even when there are no transaction costs, due to the emptiness of the core of the corresponding cooperative game [Aivazian and Callen (1981)]. We show that the standard Coasean bargaining game involving three...

Abstract: The financial accounting data about foreign direct investments (FDI), collected, classified, tabulated, and published by the leading statistical institutions of the world, are in part distorted (to the extent that General Partners and Limited Partnerships are involved), and in total...