Article history: Received 26 July 2012 Received in revised form 24 May 2014 Accepted 26 May 2014 Available online 3 June 2014 This paper analyzes the risk–return trade-off in Europe using recent data from 11 European stock markets. After relaxing the linear assumptions in the risk–return relationship by introducing a new approach that considers the current state of the market, we obtain signifi...

The economic performance of Sub-Saharan Africa (SSA) over the past two decades has been disappointing. The initial explanation for this poor performance focussed on deficient macroeconomic policies. However a number of SSA countries have undertaken and sustained a reasonable measure of macroeconomic reform and still see no significant expansion in the growth of manufactured exports. This sugges...

The problem of slaughterhouse waste water can be resolved by mixing it with serum from lacteal industry to produce a biogas. The effect of serum addition on the anaerobic co-digestion of solid and liquid slaughterhouse waste has been studied. The experimental device consisted of a continuous digester by recirculation of biogas produced in the anaerobic digestion. The input effluent was a mixtur...

We study the case where parallel trade (PT) stems from government price controls in a foreign country. We remove the presumption that PT blunts dynamic efficiency if the government has partial commitment ability. We model the R&D firm’s option to serve the foreign country, and find that PT may improve quality, depending on preferences for quality. Improving quality may be a sufficient condition...