This paper examines the impact of industrial policy on capital structure based on a partial adjustment model of capital structure that incorporates financial flexibility, macroeconomic conditions, economic development as well as firm-level factors. The issue is investigated in the context of Taiwan where industrial policy is widely considered to have played a strategic role in its economic succ...

Contagious animal disease outbreaks are of great economic importance. Decisions on how to control outbreaks have to be made taking into account many uncertainties. These uncertainties are included in a simulation model for the economic evaluation of foot-and-mouth disease control strategies. Starting point in the economic simulation is the spatial and stochastic simulation of disease spread. Im...

In a remarkably short period of time, economic globalisation has changed the world economic order, bringing new opportunities and new challenges (Commission of the European Communities, 2006). These challenges and opportunities are further amplified by the recent global economic meltdown. In this new economic order, the rules of the game of competition and competitiveness have greatly changed. ...

Economic and political globalisation are inevitably accompanied by a kind of ideological globalisation, a transnational ideology which legitimises them. In other words, an ideology to justify, on the one hand, the minimisation of the state’s role in the economy —which, in a market economy system implies a corresponding maximisation of the role of the market and private capital— and, on the othe...

This study investigated the relationship between financial development and economic growth for Ireland for the period 1965-2007 using a vector error correction model (VECM). Questions were raised whether financial development causes economic growth or reversely taking into account the positive effect of industrial production index. Financial market development is estimated by the effect of cred...