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    <title>EconStor Community: Economists Association of La Coruña</title>
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      <title>Trade, financial and growth nexus in Pakistan</title>
      <link>http://hdl.handle.net/10419/43428</link>
      <description>Title: Trade, financial and growth nexus in Pakistan
&lt;br/&gt;
&lt;br/&gt;Authors: Khan, Muhammad Arshad; Qayyum, Abdul
&lt;br/&gt;
&lt;br/&gt;Abstract: This paper empirically investigates the impact of trade and financial liberalization on economic growth in Pakistan using annual observations over the period 1961-2005. The analysis is based on the bound testing approach of cointegration advanced by Pesaran et al (2001). The empirical findings suggest that both trade and financial liberalization policies play an important role in enhancing economic growth in Pakistan in the long-run. However, the short-run responses of real deposit rate and trade policy variables are very low, suggesting further acceleration of reform process. The feedback coefficient suggests a very slow rate of adjustment towards long-run equilibrium. The estimated equation remains stable over the period of study as indicated by CUSUM and CUSUMQ stability tests.</description>
      <pubDate>Sun, 29 Oct 2006 22:58:59 GMT</pubDate>
    </item>
    <item>
      <title>Municipal bonds: A viable funding option for Oradea Local Public Administration (Romania)</title>
      <link>http://hdl.handle.net/10419/43427</link>
      <description>Title: Municipal bonds: A viable funding option for Oradea Local Public Administration (Romania)
&lt;br/&gt;
&lt;br/&gt;Authors: Bunescu, Liliana
&lt;br/&gt;
&lt;br/&gt;Abstract: In a market economy government resources are often insufficient to cover all the public budget needs. Public capital collecting process presents a particular interest considering the need of getting them with lower costs. The options for collecting public resources are characterized by diversity and complexity. One of them is based on municipal bonds funds. This paper explores the potential of public bonds issued at a local level in raising capital for infrastructure investments in Romanian public administration. This paper is not meant to be an empirical study at national level because sub-sovereign bonds market in Romania is not very developed. This paper is limited to a case study of public financing methods for a Romanian local public administration. Local authorities from Oradea have no other possibility without one of borrowing to achieve the objectives proposed. Thus, it resorted to a set of internal and external loans. Our study contents a comparative cost analysis of public financing by loans. The analysis lead to the result that the cheapest source of financing is the loan offered by the European Investment Bank, followed by municipal bonds issuing.</description>
      <pubDate>Thu, 29 Oct 2009 22:58:59 GMT</pubDate>
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      <title>Interpretando la crisis</title>
      <link>http://hdl.handle.net/10419/43426</link>
      <description>Title: Interpretando la crisis
&lt;br/&gt;
&lt;br/&gt;Authors: Nanni, Franco Eugenio; Panico, Adriana Fátima</description>
      <pubDate>Wed, 29 Oct 2008 22:58:59 GMT</pubDate>
    </item>
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      <title>Ageing population and Spanish pension system reforms: Effects on average pensions and inequality among pensioners</title>
      <link>http://hdl.handle.net/10419/43425</link>
      <description>Title: Ageing population and Spanish pension system reforms: Effects on average pensions and inequality among pensioners
&lt;br/&gt;
&lt;br/&gt;Authors: de Pedraza, Pablo; Muñoz de Bustillo, Rafael; Rivas, Luis Alberto
&lt;br/&gt;
&lt;br/&gt;Abstract: An ageing population is prompting the reform of pension systems. The Spanish pension system has undergone two consecutive reforms and a third one is currently being taking into consideration. All three involve the lengthening of the period used to calculate the size of pensions. This paper offers an estimate of the impact of each system on average pensions and inequality among pensioners. The paper also explores the applicability of the conclusions to the generation of workers now in the middle of their working life, that is considering the characteristics of new working lives.</description>
      <pubDate>Wed, 29 Oct 2008 22:58:59 GMT</pubDate>
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