Although the theory of multinational banking has pointed out the importance of local profit opportunities, the empirical evidence is still poor and deserves further investigation. To this end, we analyse entry decisions and activity levels of foreign banks operating in Italy between 1983 and 1998. We consider 22 OECD countries, 10 of which had at least one bank (branch or subsidiary) in Italy. ...

Financial inclusion can be defined as the access to formal financial services at an affordable cost for all members of an economy, favoring mainly low-income groups. It has been recognized as a critical element in policies for poverty reduction and economic growth. Some successful experiences with financial inclusion reported in developing countries are associated with the use of information an...

Every time we meet with our investment advisors, we go over the same things. We look at the amount of cash contributed during that quarter, the ratio of equities, debt, derivatives, commodities and other financial instruments. We explore the distribution of assets among economic sectors and geography. Finally, we get to the numbers that concern us most, the bottom line rate of return net of fee...

This paper studies Pareto-optimal risk-sharing arrangements in a private information economy with aggregate uncertainty and ex ante heterogeneous agents. I show how to implement Pareto optima as equilibria when agents can trade claims to consumption contingent on aggregate shocks in financial markets. The first result is that if aggregate and idiosyncratic shocks are independent, the implementa...

In Indonesia one of the very important factor for economic development is marine fisheries. Besides being the most affordable source of animal protein in the diet of most people in the country, this industrial sector could contribute environmental degradation. This paper addresses a multiobjective stochastic programming model of the sustainable production planning of fish processed products. Th...

Stress in financial markets influences economic agents’ behavior by creating uncertainty and changing the expectations. Critical financial stress can lead to financial crisis. Financial crises are among the events always present in the world economy. Iran is not an exception. This paper aims to study the impact of financial stresses on Iran’s per capita GDP. By using ARDL (Auto Regressive Distr...

corporations have a key role in economic development, growth of national security and financial competition. the key of power is in economy. so in the global village, the economic competition replaces military conflict. a new concept in criminal justice is corporate crime. these crimes as a kind of white collar crime are studied in light of critical criminology findings of this study shows that...

economic recession is considered as a repeatable and constant phenomenon in capitalist economy. countries which experienced rapid economic growth have inevitably applied a balancing program after that. generally, whenever industrial, financial and commercial developments occurred in a rapid growth, the reverse and changing processes would appear. consequently, they will affect the financial and...