Expected Utility theory is not only applied to individual choices but also to social decisions, e.g. in cost-bene t analysis of climate change policy measures that a ect future generations and hence incorporate…
The change in the business model of venture capitalists from investing locally towards investing across borders started to intensify in the late 1990s. Compared to domestic investments, cross-border investments…
We examine the role of political fractionalization in understanding the "resource curse". Using panel data for 30 oil-rich countries, we find that the income effect of resource rents is moderated by the…
This article traces Romania's development to a low-tax country among the member states of the European Union by analysing the major tax law changes in corporate taxation since 1992. We compute and compare the…
We study how the shadow economy affects pollution and how this effect depends on corruption levels in public administration. Production in the shadow economy allows firms to avoid environmental regulation…
