This paper assesses the different structures of investment finance in the main EMU member economies, using the BACH database of balance sheet data, aggregated by firm size. Two main sets of results are obtained. First, each country/size class group is characterised using the net sources and uses of finance methodology. The importance of long-term debt as a source of investment finance, and its ...

The paper focuses on regional trade agreements and economic co-operation and develops a new appropriate approach to study their impact on growth and trade. The approach is based on an endogenous trade-growth theory and novelly specified in an economic integration (expenditure) framework which is the conceptual foundation of regional trade agreements. Importantly, it also appropriately takes int...

Many firms have more than one blockholder, but finance theory suggests that one blockholder should be sufficient to bestow all benefits on a firm that arise from concentrated ownership. This paper identifies a reason why more blockholders may arise endogenously. We consider a setting where multiple shareholders have endogenous conflicts of interest depending on the size of their stake. Such con...

The primary goal of any economic policy in the production front is, as far as possible to enhance the degree of sectoral interrelatedness (henceforh SI) within the home economy. The focal objective of such policy is not only to increase the sectoral value added of the economy but also to improve the position of the trade balance in the commodity trade front. Iran, being characterized a sole mon...

The use of selective industrial policy to re-integrate South Africa’s previously protected automotive industry into the global business is one of the few successful cases on the African continent in recent times. South Africa’s success provides a useful reference point for other African countries in which selective industrial policy is a key part of national development strategy. Despite the re...

The paper focuses on regional trade agreements and economic co-operation and develops a new appropriate approach to study their impact on growth and trade. The approach is based on an endogenous trade-growth theory and novelly specified in an economic integration (expenditure) framework which is the conceptual foundation of regional trade agreements. Importantly, it also appropriately takes int...