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This paper presents a general equilibrium model of interenterprise arrears, characterized by n-stage production technology with random productivity shocks. The model shows that large interenterprise arrears in transition economies may reflect substantial business risks in those countries and that rapid privatization and commercialization may contribute to a huge initial accumulation of trade credits and arrears. The paper also suggests that administrative measures aimed at immediate reduction of IEA such as imposition of prepayments and penalty charges, would not be as effective as partial equilibrium frameworks suggest. Consequently, a fundamental solution should be sought instead in reducing business risks or improving enterprise information. Finally, the paper discusses the relevance of the model to Russian experience in 1993 and 1994.
This book highlights the increasing risk of North Korea’s collapse and considers the necessary actions that would enable the neighboring powers to prepare for such an event. North Korea's deteriorating economic conditions, its reliance on external assistance, and the degree of information penetration all provide hints of its collapse. Whether the chance is high or low, the collapse of North Korea and subsequent Korean unification would drastically alter the geostrategic landscape and profoundly affect the national interests of the regional powers—South Korea, China, the United States, Japan, and Russia. The most desirable scenario for a post-unification Korean Peninsula is a successfully...
This paper studies the case of Mexico to examine determinants of banking system fragility. The paper tests empirically the proposition that bank fragility is determined by bank-specific factors, macroeconomic conditions, and potential contagion effects. The methodology allows the variables that determine bank failure to differ from those that influence banks’ time to failure (or survival rate). Based on the indicators of fragility of individual banks, the paper constructs an index of fragility for the banking system. The framework is applied to the Mexican financial crisis that began in 1994.
Studies of the impact of trade openness on growth are based either on crosscountry analysis—which lacks transparency—or case studies—which lack statistical rigor. This paper applies a transparent econometric method drawn from the treatment evaluation literature (matching estimators) to make the comparison between treated (that is, open) and control (that is, closed) countries explicit while remaining within a statistical framework. Matching estimators highlight that common cross-country evidence is based on rather far-fetched country comparisons, which stem from the lack of common support of treated and control countries in the covariate space. The paper therefore advocates paying more attention to appropriate sample restriction in crosscountry macro research.
This book offers a unique glance into the process of globalisation of the architectural practice during the last three decades through the lenses of innovative methodologies in architectural history based on quantitative data. Focusing on the golden age of globalisation (1990-2019), it investigates the transnational work of more than one thousand architectural firms of different business models from Europe, North America, and the Asia-Pacific in a broad sample of emerging markets: Mainland China, South-East Asia, India, the Persian Gulf, Sub-Saharan Africa, Russia and Kazakhstan, and Latin America. In the book, different thematic geographies are presented to explore the global scope of the c...
CHAPTER 1: WHY A UNITED KOREA CHAPTER 2: GERMANY AFTER UNIFICATION 1. Benefits of German Unification 2. Implications for Korean Unification CHAPTER 3: COSTS AND BENEFITS OF UNIFICATION 1. Understanding the Costs of Unification 2. Unification is Less Costly than Division 3. Unification Benefits Outweigh Unification Costs 4. Building Unification Readiness to Minimize Costs CHAPTER 4: RESTRUCTURING THE UNIFICATION ARGUMENT 1. Direction of the Unification Argument 2. Argument to Change the Public View on the Need for Unification CHAPTER 5: VISION OF A UNITED KOREA 1. Political & Diplomatic Vision 2. Economic Vision 3. Security Vision 4. Social & Cultural Vision CHAPTER 6: CONCLUSION
2011 Updated Reprint. Updated Annually. Ukraine Investment and Trade Laws and Regulations Handbook
2011 Updated Reprint. Updated Annually. Ukraine Export-Import, Trade and Business Directory
The book explores diplomatic style and its use as a means to provide analytical insight into a state’s foreign policy, with a specific focus on South Korea. Diplomatic style attracts scant attention from scholars. It is dismissed as irrelevant in the context of diplomacy’s universalism; misconstrued as a component of foreign policy; alluded to perfunctorily amidst broader considerations of foreign policy; or wholly absented from discussions in which it should comprise an important component. In contrast to these views, practitioners maintain a faith-like confidence in diplomatic style. They assume it plays an important role in providing analytical insight, giving them advantage over scho...