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Is the euro area getting closer with regard to business cycles? The study investigates the linkage between business cycle convergence and financial portfolio choice for a panel of 18 European countries. For this purpose an index is constructed which measures the similarity of investment portfolios.

China in Transition

Contributes with empirical findings on the distribution of European research and patenting activity since the 1980s at the regional level. This title offers a quantitative clustering analysis, which makes use of EPO patent applications and a harmonized regional and technological classification.

Socially desirable responding (SDR) is an often-reported source of bias in survey interviews. This title describes the tendency of a respondent to answer in a way that is socially desirable rather than to answer truthfully. It deals with the assessment of the conditions for the occurrence of SDR in CVM interviews.

Regarding Arab region, GDP per capita virtually stagnated for more than 20 years from 1980. During same period, GDP per capita in world's industrialized states further increased and gap between Middle East and North Africa and highly developed countries widened. This text explains differences in development on basis of institutional economics.