Home bias effect in prospect of financial globalization
Journal of European Economy, Volume 7, Issue 1, March 2008, pp.89-101
|JEL: E20, E22||Full text (PDF)|
The author analyzes theoretical approaches to the problem of home bias effect. The tendency to a weakening home bias effect on the macro- and microlevels is shown empirically. The author asserts that this tendency roads to higher allocation efficiency of global capital markets and the capacity of the macropolicy to level out consumption. However, it also bears certain risks from the global financial stability perspective.
Choosing the national economic model of Ukraine
Journal of European Economy, Volume 6, Issue 4, December 2007, pp.349-351
|JEL: E20, R11||Full text (PDF)|
The author raises the problem of developing the strategy oriented at attaining the national economic miracle. At the heart of this strategy is employment of the available resource – the intellectual potential of the nation, which has not been wasted so far. In view of Ukraine’s lack of traditional factors of production, its choice should be based on the strategy of transition to the economy of highlyintellectual services with capitalism of managers (instead of the capitalism of owners), bypassing the phase of processing industry dominance.