Download or read book Information Asymmetry Share Mispricing and the Coordination Problem written by Elena Yusupova and published by . This book was released on 2008 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Voucher privatization in the Czech Republic presented a natural experiment of the ability of investors to construct their portfolios under conditions of asymmetric information and the absence of stock market prices. This paper provides a theoretical model of an optimal portfolio choice made by the investors maximizing their expected return and at the same time solving a coordination problem in a non-cooperative game with other investors. The perception of share misvaluation and private information are endogenized. The model offers an interpretation and theoretical justification of earlier empirical findings and explains the crucial role of the uctioneer, different optimal strategies for different types of investors and the redundancy of legal limits constraining ownership stakes in firms. The results provide implications for the design of voucher privatization, which should lead to more efficient share distribution and price setting.
Download or read book Information Asymmetry Share Mispricing and the Coordination Problem written by Elena Yusupová and published by . This book was released on 2006 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Information Asymmetry Share Mispricing and Coordination Problem Investors Portfolio Choice in the Czech Voucher Privatization written by Elena Yusupová and published by . This book was released on 2005 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The New Economy and Economic Growth in Europe and the US written by David B. Audretsch and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many issues relating to the new economy in Europe and the USA that are unexplored. Here, the authors present innovative theoretical and empirical analysis on Internet dynamics, productivity growth and organizational changes in selected OECD countries. New empirical findings related to telecommunications, Internet and growth also are presented. Based on the theoretical and empirical analyses, various policy options are developed. Policy measures, both at the regional and national levels, can stimulate structural change, knowledge diffusion and economic growth. Different governance strategies for the Internet and e-commerce are identified from a global perspective.
Download or read book Between State and Market written by Ira W. Lieberman and published by World Bank Publications. This book was released on 1997-01-01 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 32. Over the years, demand for education at all levels in Kenya has greatly outpaced supply, a gap that has been reduced by private schools catering to the needs of a wide range of socioeconomic groups. This gap will widen further unless the private sectors role is expanded, but private educational institutions face a number of serious constraints, primarily stemming from lack of adequate finance and, in many cases, limited management skills. This paper reviews the market and its constraints and focuses on conditions under which private financial institutions and the International Finance Corporation might play a useful role in the sector. Annexes include 1996 operating costs of Kenya's academic, technical, and vocational schools.
Download or read book The Age of Turbulence written by Alan Greenspan and published by Penguin. This book was released on 2008-09-09 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the bestselling author of The Map and the Territory and Capitalism in America The Age Of Turbulence is Alan Greenspan’s incomparable reckoning with the contemporary financial world, channeled through his own experiences working in the command room of the global economy longer and with greater effect than any other single living figure. Following the arc of his remarkable life’s journey through his more than eighteen-year tenure as chairman of the Federal Reserve Board to the present, in the second half of The Age of Turbulence Dr. Greenspan embarks on a magnificent tour d’horizon of the global economy. The distillation of a life’s worth of wisdom and insight into an elegant expression of a coherent worldview, The Age of Turbulence will stand as Alan Greenspan’s personal and intellectual legacy.
Download or read book Envisioning Real Utopias written by Erik Olin Wright and published by Verso Books. This book was released on 2020-05-05 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rising inequality of income and power, along with recent convulsions in the finance sector, have made the search for alternatives to unbridled capitalism more urgent than ever. Yet few are attempting this task-most analysts argue that any attempt to rethink our social and economic relations is utopian. Erik Olin Wright's major new work is a comprehensive assault on the quietism of contemporary social theory. A systematic reconstruction of the core values and feasible goals for Left theorists and political actors, Envisioning Real Utopias lays the foundations for a set of concrete, emancipatory alternatives to the capitalist system. Characteristically rigorous and engaging, this will become a landmark of social thought for the twenty-first century.
Download or read book Fiscal Risks Sources Disclosure and Management written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2008-05-31 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of member countries have expressed interest in advice regarding disclosure and management of fiscal risks (defined as the possibility of deviations of fiscal outcomes from what was expected at the time of the budget or other forecast). This paper analyzes the main sources of fiscal risks and—building on an overview of existing practices in a wide range of countries—provides practical suggestions in this area, including a possible Statement of Fiscal Risks and a set of Guidelines for Fiscal Risk Disclosure and Management.
Download or read book Foreign Investment Decision making in Transition Economies written by Olga Golubeva and published by . This book was released on 2001 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Recovery for All written by Isabel Ortiz and published by Lulu.com. This book was released on 2012 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's financial and economic crisis has taken a toll on children and poor households. High food and commodity prices, unemployment and austerity measures have aggravated persistent inequalities and contributed to a substantial rise in hunger and social tensions. Now, more than ever, investments for the world's poor are needed to recover lost ground in pursuit of development objectives. People everywhere are demanding change. This book describes the social impacts of the crisis, policy responses to date and United Nations alternative proposals for 'A Recovery for All.' With a foreword by Sir Richard Jolly.
Download or read book Government at Risk written by Hana Polackova Brixi and published by World Bank Publications. This book was released on 2002 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many governments have faced serious instability as a result of their contingent liabilities. But conventional public finance analysis and institutions fail to address such fiscal risks. This book aims to provide motivation and practical guidance to governments seeking to improve their management of fiscal risks. The book addresses some of the difficult analytical and institutional challenges that face reformers tooling up to manage government fiscal risks. It discusses the inadequacies of conventional practices as well as recent advances in dealing with fiscal risk.
Download or read book Policy Framework for Investment written by OECD and published by OECD Publishing. This book was released on 2006-05-11 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on good practices from OECD and non-OECD countries, the Framework proposes a set of questions for governments to consider in ten policy fields as critically important for the quality of a country’s environment for investment.
Download or read book International Corporate Governance written by Marc Goergen and published by Financial Times/Prentice Hall. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Corporate Governance provides a thorough introduction to the state of the art of corporate governance research and practice. It covers a wide range of topics, including corporate control, regulation, behavioural issues and the role of stakeholders in corporate governance. The text not only reflects the multidisciplinary nature of corporate governance, but it also adopts an international perspective by highlighting the major differences in corporate control and corporate governance practice across the world. While rigorous, the text avoids needless jargon and uses language that is accessible to a wider audience. It also makes a critical assessment of current regulation, practice and research findings.
Download or read book Epilogue To The Age Of Turbulence written by Alan Greenspan and published by Penguin. This book was released on 2008-09-09 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this timely supplement to his incomparable reckoning with the contemporary financial world, Dr. Alan Greenspan presents his views on how the economy has changed since he wrote the #1 New York Times bestseller The Age of Turbulence. Covering the subprime mortgage crisis as well as other national and international issues, this Penguin eSpecial offers a front-line view of the global economy from the man who has worked at its heart longer and with greater effect than any other single living figure.
Download or read book Three Social Science Disciplines in Central and Eastern Europe written by Max Kaase and published by Lit Verlag. This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook is a joint publication of Collegium Budapest and the Social Science Information Centre. Thirty countries reported on the development and current state of three social science disciplines--economics, political science and sociology--in Central and Eastern European countries. Solid analyses by East European experts provide up-to-date overviews of the three social sciences.
Download or read book Preventing Bank Crises written by Gerard Caprio and published by World Bank Publications. This book was released on 1998 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trata de como prevenir a crise nos bancos, estudando vários casos de bancos que quebraram no mundo.
Download or read book Economic Growth second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
