The process of globalisation has been a widely discussed topic over the past two decades, and a great enabler and driving force behind this process has been the airline industry. In addition, deregulation is said to have a great impact on company
This is the first paper that examines economies of scale in stock exchanges. The data employed in the study include cost and output statistics for 37 stock exchanges in four continents around the world for the year 1997. I estimate two traditional
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