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This paper examines the importance of trade openness for attracting Foreign Direct Investment (FDI) inflows, using a sample of 36 developing economies for the period 1990–2008. It provides a direct test of causality between FDI inflows, trade openness and other key variables in developing regions of the world: Latin America, Asia, Africa, CIS (Commonwealth of Independent States) and Eastern Europe. Trade openness is measured by using eight different indicators. The main empirical findings of the panel regression analysis reveal that in the long run, trade openness contributes positively to the inflow of FDI in developing economies.

The purpose of this paper is to use socioeconomic indicators for analyzing convergence within Greece at regional (NUTS II) and prefecture levels (NUTS III) since 1960. We use two alternative approaches. The first one is based on the coefficient of variation and the second one on quality of life rankings. We confirm the decline of regional inequalities in Greece, with the exclusion of the 1980s. Regions with increased tourist and trade activity are also regions with high quality of life. Border regions are usually the laggards of social and economic development.

Purpose - The past decade has shown a remarkable growth in entrepreneurship among immigrants in Greece, while their contribution to Greek society is still clouded by issues of social integration, crime, exclusion, racism and discrimination. The purpose of this paper is to empirically identify the motivations that are responsible for migrant entrepreneurship in the case of Greece.Design methodology approach - The authors use the principal component factor analysis technique in order to investigate common factors that might explain underlying beliefs about the perceived variables. The research questionnaire includes open-ended and closed questions to collect the necessary information in order to provide insights into a variety of critical factors which determine the start and existence of ethnic firms.Findings - It is found that the intention to become an entrepreneur depends on family survival needs, immigrant community ties, personality features or traits and market infrastructure and general conditions of the Greek economy.Originality value - The findings of this study provide important insights into the perceived and actual motivations encountered by immigrant entrepreneurs in Greece and allow for implications to be made to both owners and government policies.

Purpose--The purpose of this paper is to empirically implement a comprehensive analytical framework of financial performance in the case of Greek industrial firms during the period 1997-2004. Design/methodology/approach--The paper examines the impact of key determinants of firms' performance. It distinguishes between financial and non financial drivers of firm performance. Three measures are used in order to evaluate firm performance: return on sales or profit margin, return on assets and return on equity. We run three panel least squares regression, one for each dependent variable, with a time series component of 8 (eight) years. Findings--Results show that leverage, export activity, location, size and effective management significantly affect firm performance in Greece. Further, it is shown that profitable firms in Greece are large, young, exporting firms with a competitive management team, which have an optimal debt-equity ratio and use their liquidity to finance their investments. Practical implications--Our approach can be used as a useful tool to understand practical problems that arise when managers consider strategies to improve firm performance. Originality/value--The paper provides useful information on the importance of management in firm's performance in Greece. Keywords: Financial Performance, Greek Firms, Panel Data, Management Competence Paper type: Research Paper

This paper designs an index of socio-economic development in Russia following the break-up of the Soviet Union in 1991. The purpose of this index is to act as a measure of a regions' economic potential for the purpose of regional comparison and also to help policy makers in designing future regional economic policy. Finally, with the use of this weighted index this paper proposes some suggestions concerning the future design of regional economic policy in Russia.

This paper examines the behavior of households and firms in the presence of variations in regional characteristics that affect their location decisions. It then determines relevant equilibrium conditions. Based on the implications of these equilibrium conditions, firm and household locations can be explained either by the dominance of firms or by the dominance of households. The results of this theory are applied to the case of 17 Arab countries.

One of the most debatable issues in Economics is the relationship between economic growth and the environment. From the policy point of view, what is important is the formulation of the best-suited policies for both growth and the environment. But the implementation of regional and environmental policies requires the existence of methods for evaluating the economic and environmental situation in each country. This paper offers such a method and applies it in the case of European Union (EU) countries member-states by positioning them in an Environmental Quality-Income map.

Originality/value--The paper provides useful information on the importance of management in firm's performance in Greece.

This study explores the influence of financial leverage and of management competence on firm performance using a sample of 102 listed firms in the Athens Stock Exchange. It is found that leverage contributes significantly to sales growth, stock returns, and profitability due to management competence. [PUBLICATION ABSTRACT]

GIANNIAS D., LIARGOVAS P. and MANOLAS G. (1999) Quality of life indices for analysing convergence in the European Union, Reg. Studies 33 , 27-35. This paper investigates convergence and tests it empirically across countries of the European Union between 1970 and 1990. Convergence is defined not only in terms of economic indicators, but also in terms of social and quality of life indicators. Real convergence is computed by evaluating a weighted average coefficient of variation based on economic and quality of life variables. The weights are based on an experts' opinion survey. Country rankings, based on the values of a composite quality of life index, are also constructed. The results confirm that real convergence was achieved between 1970-75 for most of the countries. Convergence stagnated between 1980-85 and then it increased. Southern European Member States did not exhibit similar patterns. GIANNIAS D., LIARGOVAS P. et MANOLAS G. (1999) L'analyse de la convergence au sein de l'Union europe´enne à partir des indices de la qualite´ de la vie, Reg. Studies 33 , 27-35. Cet article cherche à examiner la notion de convergence et à l'e´valuer empiriquement quant aux pays membres de l'Union europe´enne entre 1970 et 1990. La notion de convergence s'exprime non seulement en fonction des clignotants e´conomiques, mais aussi à partir des indices sociales et de la qualite´ de la vie. On calcule la convergence re´elle en e´valuant un coefficient de variation de la moyenne ponde´re´e fonde´ sur des variables e´conomiques et relatives à la qualite´ de la vie. Les ponde´rations proviennent d'une enquete des opinions des experts. Les pays sont classe´s en fonction des valeurs d'une indice compose´e de la qualite´ de la vie. Les re´sultats confirment que la convergence re´elle avait e´te´ atteinte entre 1970 et 1975 pour la plupart des pays. La convergence stagnait entre 1980 et 1985 pour rede´marrer. Les pays-membres du sud de l'Europe n'ont pas fait preuve des tendances similaires. GIANNIAS D., LIARGOVAS P. und MANOLAS G. (1999) Lebensqualitätsindexe zur Analyse der Konvergenz in der EU, Reg. Studies 33 , 27-35. Dieser Aufsatz untersucht Konvergenz und überprüft sie empirisch in Ländern der ganzen EU für den Zeitraum 1970-1990. Konvergenz wird nicht nur unter dem Aspekt wirtschaftlicher Indikatoren, sondern auch dem der Lebensqualität- und Sozialindikatoren definiert. Wirkliche Konvergenz wird duch Bewertung gewichteter durchschnittlicher Koeffizienten der Unterschiede berechnet, die sich wirtschaftlichen und Lebensqualitätsvariablen beruhen. Gewichtung stützt sich auf Untersuchung von Expertenansichten. Darüberhinaus werden Länderranglisten aufgestellt, die auf Werten eines zusammengesetzten Lebensqualitätsindex beruhen. Die Ergebnisse bestätigen, daß wahre Konvergenz in den meisten Ländernim Zeitraum 1970-75 erreicht wurde, im Zeitraum 1980-85 jedoch stagnierte und danach zunahm. Südeuropäische Mitgliedstaaten weisen keine derartigen Muster auf.