European integration and trade flows

European stock market integration: Fact or fiction?

La relacion entre inversion publica y crecimiento economico ha sido una de las cuestiones mas ampliamente analizadas
en los ultimos anos en el ambito de la politica economica. El tema se ha abordado desde diferentes enfoques, tanto
a nivel teorico como empirico. El objetivo de este trabajo es ordenar los principales resultados de la literatura,
prestando especial atencion a aquellos trabajos que estudian las relaciones entre gasto publico productivo y crecimiento
economico.

Inversión pública y crecimiento: un panorama *

Most organizations have innovated their distribution strategy and adopted a multichannel strategy. The success of this strategy depends to a large extent on the adoption of new channels by the consumer. This research aims to build a model that explains consumer multichannel behavior. It gives answers to the question which factors influence the use of a new ICT enabled channel. The central question in this thesis is: What factors explain consumer channel choice in an ICT enabled multichannel configuration, therewith finding an explanation for the trial, adoption and choice of a new channel? This main question leads to three sub questions that will be answered in this thesis: Which theories can be used to find the factors that explain the trial, adoption and choice of an ICT enabled channel by customers in a multichannel configuration? Is it possible to arrive at a model based on these theories that explains the use of ICT enabled channels? Can this model can be confirmed empirically?

Modeling customer behavior in multichannel service distribution: A rational approach

Firstly, this study discusses four different definitions of international capital mobility. Furthermore, a theoretical and empirical analysis of the quantity and the price approach to financial integration is given. The empirical analysis is confined to the member states of the European Community. With regard to the price approach a distinction is made between integration of money markets and that of capital markets. Finally, the study draws some general conclusions based on the empirical research.

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The degree of financial integration in the European Community

Commercial integration and fiscal policy in interdependent, financially integrated two-sector economies with real and nominal wage rigidity

The reduced supply of and an increasing demand for world savings suggest continuously high interest rates in the years to come. The IMF, OECD and BIS recently expressed their concern about the sustainability of the external deficits in view of the persistent large US external deficit, the substantial German external deficit caused by the unification, the increased demand for savings to finance the restructuring of the Eastern European economies and the environmental policies. This question seems relevant, especially to the US. For, total claims to the limited US savings as represented by the combined financing needs of private domestic investment and the federal budget deficit, points to an awkward situation. The persistence of this’ savings gap’ (Corrigan, 1990), accompanied with a growing budget deficit creates a serious twin-deficit-twin-debt problem (Kremers, 1990).

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M.A. van Tuijl

Papers

Commercial integration and fiscal policy in interdependent, financially integrated two-sector economies with real and nominal wage rigidity

The twin-debt problem in an interdependent world

Goods markets integration and fiscal policy

Fiscal policy and public capital in interdependent economies

Commercial integration and fiscal policy in interdependent, financially integrated two-sector economies with real and nominal wage rigidity