176 research outputs found
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Örn B. Bodvarsson & Hendrik Van den Berg, The Economics of Immigration: Theory and Policy
Get PDFAbstract. The Economics of Immigration: Theory and Policy (Second edition)is designed as a survey book that addresses all facets of immigration. Though there is a great amount of information regarding immigration, the complexity of the topic has resulted in an absence of any comprehensive book the covers a wide range of issues. The book covers immigration theory, empirical evidence regarding those theories, special issues in immigration, and immigration policy throughout the world. Designed as a resource for both graduate students and researchers in the field, this book is successful at compiling all of the various literature and policy on immigration in a cohesive manner.Keywords. Migration, Labor, Immigration policy, International economics.JEL. F00, F22, J00
A Factor Analysis of Investment Behaviour for Small Investors in the Hong Kong Stock Market
Get PDFHon (2012) found that small investors were overconfident and bought more stock during the buoyant market in the Hong Kong stock market. Small investors also exhibited herd behaviour. In this paper we extend his paper to identify and analyse the important factors that capture the behaviour of small investors in the Hong Kong stock market,especially during the financial crisis.Exploratory factor analysis is employed to analyse the data, we found that monitor investments is the second important factor and reference group is the most important factor..Keywords. Factor analysis, Small investors, Stock market, Hong Kong.JEL. E22, G02, G10
Veto Power and Wealth: Analysis of the Development of the Swiss Old Age Security
Get PDFSwitzerland was one of the last OECD-countries to introduce a program for old age security – the AHV. For many decades, expenditures both in absolute terms and as a portion of GDP remained low in OECD comparison. In the 1970ies however, expenditures exploded – within 10 years, the expenditures as a percentage of GDP doubled. This article explains this astonishing development by applying the veto player theory. Veto player theory is useful to determine changes in the policy stability. The higher the policy stability, the more difficult it is to move away from the political status quo. The lower the policy stability, the more probable it is that reforms and changes in government programs can be achieved. This article shows that the policy stability was particularly high in the constitution phase (from 1890 to 1947) and the consolidation phase (from 1974 to the present) and low in the phase in between (from 1948 to 1973), when the foundation for the expansion was set.Keywords. Power and wealth, Development.JEL. H30, H40, H50
The “New” Growth Theory: Trade, Innovation, and Growth [Yeni Büyüme Teorisi: Ticaret, İnovasyon ve Büyüme]
Get PDFPaul Romer (1986, 1990) ve Robert Lucas (1988)’in makaleleri bize; ölçeğe göre artan getirilerin mevcut olduğu bir ekonomik ortamda yatırım gerçekleştiğinde, sermayenin marjinal ürününün iskonto oranına göre zamanla düşmesi gerekmediğini hatırlatmıştır. Zira sermaye birikiminin teşvik edilmesi süresiz devam edebilir ve uzun dönem kişi başına büyüme sağlanabilir. Bu zekice gözlemler iktisadi büyüme teorisini canlandırmıştır. Araştırmaların ilgisi bilgi sermayesinin birikim sürecine odaklanmıştır; çünkü bilgi, kamu malı niteliği sebebiyle ölçeğe göre artan getirilere tabidir. Beşeri sermaye yatırımlarına ve yeni teknoloji yatırımlarına dayalı uzun dönem büyümeyi belirleyen faktörleri kavrayabilmek için geçmişte bir girişimde bulunulmuştur. Büyüme teorisindeki gelişmeler uluslararası iktisadın merkezinde uzunca bir süredir sorun teşkil eden bir çok meseleyi titizlikle açıklamamıza olanak sağlamaktadır. Örneğin, uluslararası ticaret ne ölçüde ve ne şekilde “büyümenin motoru” görevi görmektedir? Uluslararası alışverişler ticareti gerçekleştiren tekil ülkelerin büyüme performanslarını doğal olarak artırmakta mıdır? Ve hangi iktisadi politikalar büyüyen, açık bir ekonomide özellikle yüksek refah düzeylerinin sağlanmasına yardım etmektedir
The New Brazilian Anti-Corruption Law
Get PDFAbstract. This piece is intended to call the attention of directors, businessmen and company managers to a fact of great relevance. With the enactment of Law 12,846/13, its first and second articles imposed the accountability, administrative and civil liability of legal entities when of the perpetration of acts against the domestic or foreign Public Administration, meaning a relevant risk as the companies will liable regardless of guilt in the practice of corruption committed in its own interest or benefit.Keywords. law, anti-corruption, companies
Economic Policy During The Great Deperession and The Crisis After 2008
Get PDFAbstract. The economic crisis that hit the global economy since 2008 year was without precedent in the post- war economic history and it can be compared only with the Great Depression in1929- 1933.The crisis started in the USA real estate market, and from there spread to the EU and other regions of the world.This article compares the economic policy during Great Depression in 1929- 1933 and current economic crisis. The purpose of this study is the analysis of the causes of today’seconomic crisis andthat of Great Depression to determine high performance policy to overcoming crisis.To develop effective methods to combat the crisis and prevent breakdowns of Great Depression changes must cover not only to elaborate better economic policy of the states, but also a mechanism for international cooperation. The articletry to find an answer to the fundamental question, what changes should make the countries to overcome the present crisis and prevent their occurrence in the future. The analysis covered countries deeply affected by the economic crisis (USA, euro area countries). Permanent answer to the crisis can be only economically transformation of states and to formulate proper policiesmix that would be able to prevent a decline in production and an increase in unemployment..Keywords. Economic crisis, Economic transformation, Economic policy, Budget deficit, Banking reforms, Great Depression.JEL. E30
