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Bulletin

Université catholique de Louvain (1835-1969). Centre de recherches économiques

Published: 1996

Total Pages: 486


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Comment évaluer la capacité de l'économie marocaine à assurer le bien-être de ses populations? Voici une analyse de la situation économique sur le long terme (1960-2004). Il apparaît que la qualité des facteurs de production et celle de la gouvernance constituent des obstacles majeurs. Néanmoins, il subsiste encore des marges de manoeuvre à exploiter au mieux dans le cadre d'une stratégie de développement cohérente et dynamique.
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This book is about one of the most controversial dilemmas of contract law: whether or not the unexpected change of circumstances due to the effects of financial crises may under certain conditions be taken into account. Growing interconnectedness of global economies facilitates the spread of the effects of the financial crises. Financial crises cause severe difficulties for persons to fulfill their contractual obligations. During the financial crises, performance of contractual obligations may become excessively onerous or may cause an excessive loss for one of the contracting parties and consequently destroy the contractual equilibrium and legitimate the governmental interventions. Uncomfortable economic climate leads to one of the most controversial dilemmas of the contract law: whether the binding force of the contract is absolute or not. In other words, unstable economic circumstances impose the need to devote special attention to review and perhaps to narrow the binding nature of a contract. Principle of good faith and fair dealing motivate a variety of theoretical bases in order to overcome the legal consequences of financial crises. In this book, all these theoretical bases are analyzed with special focus on the available remedies, namely renegotiation, rescission or revision and the circumstances which enables the revocation of these remedies. The book collects the 19 national reports and the general report originally presented in the session regarding the Effects of Financial Crises on the Binding Force of Contracts: Renegotiation, Rescission or Revision during the XIXth congress of the International Academy of Comparative Law, held in Vienna, July 2014.
We contribute to the intense debate on the real effects of fiscal stimuli by showing that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness. Based on a novel quarterly dataset of government expenditure in 44 countries, we find that (i) the output effect of an increase in government consumption is larger in industrial than in developing countries, (ii) the fisscal multiplier is relatively large in economies operating under predetermined exchange rate but zero in economies operating under flexible exchange rates; (iii) fiscal multipliers in open economies are lower than in closed economies and (iv) fiscal multipliers in high-debt countries are also zero.
Important advances in tropical plant breeding achieved by French research teams of Cirad, Inra and Ird, in collaboration with counterpart staff in tropical countries, are reviewed in the present publication. All 24 chapters focus on different plants, and include: in-depth analysis of trait diversity in cultivated forms and links with related wild species; overviews of breeding techniques and biotechnological innovations utilized by breeders; assessment of genetic progress, based on examples from varietal improvement and extension programmes.
First published in 2002. Routledge is an imprint of Taylor & Francis, an informa company.
Global governance of international banks is breaking down after the Great Financial Crisis, as national regulators are withdrawing on their home turf. New evidence presented illustrates that the global systemically important banks underpin the global financial system. This book offers solutions for the effective governance of global banks.