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References Alm, J., and Embaye, A., 2013. Using Dynamic Panel Methods to Estimate Shadow Economies Around the World, 1984–2006 . Working Papers 1303. Tulane University, Department of Economics. Retrieved from Apel, M., 1994. An expenditure-based estimate of tax evasion in Sweden . Working Paper 1994 (1). Department of Economics, Uppsala University. Uppsala. AT Kearney, 2013. The Shadow Economy in Europe, 2013. . Bajada, C., and

References Arnold, J., 2008. Do Tax Structure Affect Aggregate Economic Growth? Empirical Evidence from a Panel of OECD Countries Vol. 643. (pp. 29). DOI: Barro, R. J., 1990. Government Spending in a Simple Model of Endogenous Growth. Journal of Political Economy, 98(5 Part 2), S103-S125. DOI: Durmishi, A., 2015. Albania's Fiscal Goals, Budgetary Balance, Government Debt. Anglisticum Journal (IJLLIS), 4(9-10), 136-140. Gray, C., Lane, T., and Varoudakis, A. (Eds.), 2007. Fiscal policy and

: Claessens, S., Tong, H., and Wei, S. J., 2012. From the financial crisis to the real economy: Using firm-level data to identify transmission channels. Journal of International Economics, 88(2), 375-387. DOI: Cojocaru, L., Falaris, E. M., Hoffman, S. D., and Miller, J. B., 2016. Financial system development and economic growth in transition economies: New empirical evidence from the CEE and CIS countries. Emerging Markets Finance & Trade, 52(1), 223-236. DOI:

(583)), 139-148. Garg, E. M., Singh, E. M., and Girdher, E. V., 2012. Comparative study of economic load dispatch (ELD) using modified Hopfield neural network. International Journal of Computing & Business Research. Gedz, M., 2014. Regulation of Structural Changes in the economy of Ukraine. The Russian Academic Journal, 29(3), 35-38. doi: Hopfield, J. J., 1982. Neural Networks and Physical Systems with Emergent Collective Computational Abilities. Proceedings of the National Academy of


Taking into account that one of the major handicaps when undertaken in the cultural sector is the problem of cost and demand volatility, this paper aims to implement a viability plan for the entrepreneurship of a lyric theatre low-cost company, dedicated to Zarzuela performance, a type of Spanish music like Opera. Firstly, the cultural sector data are analysed in terms of supply and demand and secondly a viability plan is carried out for three years. According to the results it is concluded that this type of venture is very risky if you do not have grant or other financial resources, due to the variability of demand and the increase in unit costs as the artistic performance has a fixed production technology that cannot absorb the technical progress of the rest of the economy.


This paper investigates, using a multi-product paradigm, the market structure of the Iranian banking sector to evaluate the role of scale. In so doing, we checked for economies of scope by multi-product cost function as well as the impact of potential economies on the banking sector structure including 18 banks during the period 2008–2014. The changes in Panzar-Rosse H-Statistic as a result of the variety in products reflect changes in the monopolistic power. The results show that an increase in the variety of offered products increases banks’ monopolistic power.

. Ankara. Banerjee, A. V., and Newman, A. F., 1993. Occupational choice and the process of development. Journal of Political Economy, 101 (2), 274-298. Bayrakdar, S., Demez, S., and Yapar, M., 2015. Testing the validity of Wagner’s law: 1998-2004, the case of Turkey. Procedia: Social and Behavioral Sciences, 195 , 493-500. Cooray, A., 2009. Government expenditure, governance and economic growth. Comparative Economic Studies, 51 (3), 401-418. Dickey

References Andersen, V. K., and Lorenzen, M., 2005. The Geography of the Danish Creative Class: A Mapping and Analysis Retrieved from Boschma, R. A., and Fritsch, M., 2007. Creative Class and Regional Growth-Empirical Evidence from Eight European Countries. Jena Economic Research Paper. doi: Bouquillion, P., and Le Corf, J. B., 2012. Concepts of creative industries and creative economies: what are the issues? European Statistical System Network on Culture

(IPO) Price of the Shares on the Tehran Stock Exchange. Research in World Economy, 5 (2), 68-73. doi: 10.5430/rwe.v5n2p68 Bateni, L., Roodposhti, F. R., Poorzamani, Z., and Asghari, F., 2014. The Relationship between IPO Price and Liquidity: Empirical Evidences from Iran. 6 (6), 226-233. doi: 10.5539/ijef.v6n6p226 Berk, A. S., and Peterle, P., 2015. Initial and Long-Run IPO Returns in Central and Eastern Europe. Emerging Markets Finance & Trade, 51 (sup6), S42-S60. doi: 10.1080/1540496X.2015.1080555 Bicanic, I., 1993. Privatization in Croatia. Eastern European

-1067. Crow, J. W., 1990. Monetary policy and the control of inflation : Central Banking Issues in Emerging Market-Oriented Economies. Dwyer, G. P. J., 1993. Rules and discretion in monetary policy. Federal Reserve Bank of St. Louis Review, may , 3-13. . Fischer, S., 1990. Rules versus discretion in monetary policy. In B. M. Friedman and F. H. Hahn (Eds.), Handbook of Monetary Economics (pp. 1155-1184). Amsterdam: North-Holland. http