Markus Leibrecht, PhD (Economics and Social Sciences)
Professor and Course Coordinator of BAE Elite Cohort Programme
Contact Details
Office: GD2203A
Tel: 8590 2997
Email: markusleibrecht@cityu.edu.mo
WOS Researcher ID: KRO-6847-2024
Scopus ID: 24484693100
ORCID: 0000-0001-5499-4280
Google Scholar: https://scholar.google.com/citations?user=VkI965cAAAAJ&hl=en
Academic Qualifications
VIENNA UNIVERSITY OF ECONOMICS AND BUSINESS, PhD in Economics and Social Science (Distinction)
VIENNA UNIVERSITY OF ECONOMICS AND BUSINESS, Habilitation in Economics
Short Introduction
I am a Professor of Applied Economics at the School of Finance at the City University of Macau. Before joining CityU Macau, I was a Professor (all ranks) of Economics and International Business at universities in Austria, China, Germany, Great Britain / Malaysia and Singapore. From 2020 to 2023 I was Oriental Scholar (東方學者計劃) of Shanghai Universities, and I was included in the foreign high-talent program of Shanghai. In addition to my academic appointments, I spent several years outside of academia (Austrian National Bank and Austrian Institute of Economic Research) to supplement my academic knowledge with practical application and for policy consulting. My teaching experience at universities spans 25 years. I taught courses on various economics- and international business-related subjects for undergraduate (BSc), postgraduate (MSc, MBA), and PhD students. I have supervised numerous PhD theses and postgraduate and undergraduate dissertations. My current research focuses on international investment agreements and investor-state dispute settlements and their impact on multinational enterprises’ decisions and governments' economic policies. I received secured funding from highly competitive sources (e.g., Austrian Science Fund, Shanghai Talent Program), and I have published numerous articles in reputable international journals. I am a Research Associate at the Austrian Institute of Economic Research, founded by Nobel Memorial Prize laureate F.A. von Hayek and L. von Mises. I am an Associate Fellow of Higher Education (Great Britain), and a Section editor of Emerging Markets Finance and Trade, and of Humanities and Social Science Communications, both JCR Q1 journals.
Teaching Areas
- Microeconomics
- Macroeconomics
- Econometrics
- Business Statistics
Research Areas
- Foreign Direct Investment
- Investor-State-Dispute Settlement
- Policy Evaluation
- Fisheries Economics
Work Experience
08/2024 -: Professor, City University of Macau (CityU Macau)
04/2014 -: Research Associate, Austrian Institute of Economic Research (WIFO)
09/2019 -: 06/2024: Professor (part-time), Shanghai University, MBA Center (Shanghai University, MBA Centre)
09/2020 - 08/2023: Professor, Shanghai Ocean University (SHOU)
09/2016 - 08/2018: Senior Associate Professor, University of Reading UK / Malaysia (UoRM)
04/2015 - 07/2016: Senior Associate Professor, Singapore University of Social Sciences (SUSS)
04/2014 - 03/2015: Project-based (service contract) employment relationship with WIFO
04/2013 - 03/2014: Senior Economist, WIFO
04/2012 - 03/2013: Professor, Leuphana University, Germany
01/2011 - 03/2012: Associate Professor, WU
01/2009 - 12/2010: Project Lead, Special Research Project (International Tax Coordination), Austrian Science Fund
10/2005 - 12/2008: Assistant Professor, WU
10/2004 - 09/2005: Economist, Economic Analysis Division, Austrian Central Bank
08/1999 - 09/2004: Assistant Professor (prae-PhD) with teaching responsibilities of an Assistant Professor, WU
Journal Publications with Major Contributions (* = Refereed; JCR 2025)
- * Impact of Pilot Free Trade Zones on Outward Foreign Direct Investment: Evidence from China, Journal of Asian Business and Economic Studies (ABDC B; JCR Q1), 2025, forthcoming, with Bellak Christian and Yan Zhoufu (role: co-first author)
- * Capital Market Integration and Firm Innovation: Theory and Evidence from China, Applied Economics (ABDC A; ABS 2; JCR Q2), 57(9), 956–974, 2025, with Yan Zhoufu and Long Wen (role: corresponding author)
- * Sustainability of Croakers in the waters around Lagos, Nigeria, Marine Policy (ABDC A; ABS 2, JCR Q1), 2024, 168, 106297, with Gloria Chinwendu and (minor contributions) others (role: corresponding author)
- * Do the new Brazilian Agreements on Cooperation and Facilitation of Investment promote Outward Foreign Direct Investment? Journal of World Investment and Trade (ABDC A; JCR Q1), 2024, 25(4), 535-563, with Bellak Christian (role: co-first author)
- * Market integration and market leadership: Evidence for Cyprinoid Markets in China, Aquaculture (JCR Q1), 578(15): 740010, 2024, with Yang Zhenhao, and (minor contributions) Yang Chenxing and Zhang Junbo (role: corresponding author)
- * The (Political) Economics of Bilateral Investment Treaties – The Unique Trajectory of Brazil, Economies (ABDC C; ABS 1; JCR Q2), 12(6): 130, 2024, with Bellak Christian (role: co-first author)
- * Investment Policy Reform as a Driver of Foreign Direct Investment: Evidence from China, The Economics of Transition and Institutional Change (formerly: The Economics of Transition) (ABDC A; ABS 2, JCR Q3), 31(4): 1035-1053, 2023, with Bellak Christian (role: co-first author)
- * Automation and Unemployment: Does Collective Bargaining Moderate their Association? Structural Change and Economic Dynamics (ABDC B; ABS 2, JCR Q1), 67: 264-276, 2023, with Zhoufu Yan and Scharler Johann (role: co-first author)
- * The Impact of a “National Green Export Review” on Competitiveness: Empirical Evidence for Ecuador’s Fish Exports, Agriculture (JCR Q1), 13: 62, 2023, with Emam Md Ali and (minor contribution) Chen Tinggui (role: corresponding author)
- * Do foreign investors affect the volatility of local currency bond prices? Empirical evidence from China, Heliyon (JCR Q1), 9(6): E16658, 2023, with Gao Shenting and (minor contribution) Wang Qian (role: corresponding author)
- * Does an increased synergy in an industry’s subsystems impact on industrial development? The case of the Fisheries Industry of China, Marine Policy (ABDC A; ABS 2, JCR Q1), 135(1), article 104837, 2022, with Liu Chenxuan and Jian Qijun (role: co-first author)
- * Trust Dynamics after Financial Distress: Evidence from Euro Member Countries, Applied Economics Letters (ABDC B; ABS 1, JCR Q3), 29(2), 91-96, 2022, with Scharler Johann (role: co-first author)
- * Profitability of container shipping via the Arctic Northeast Passage: A simulation and regression analysis, Marine Policy (ABDC A; ABS 2, JCR Q1), 133(11), 2021, with Jiang Miaomiao and Hu Maixiu (role: co-first author)
- * Do Economic Crises Trigger Treaty-Based Investor-State Arbitration Disputes? Journal of International Economic Law (ABDC A; JCR Q1), 24(1): 1-28, 2021, with Bellak Christian (role: co-first author)
- * Investor-State Disputes in Balkan, post-Soviet and Near and Middle Eastern countries, Journal of Balkan and Near Eastern Studies (JCR Q1), 23(1): 101-121, 2021, with Bellak Christian (role: co-first author)
- * Political Constraints, Financial Market Pressure, and Fiscal Consolidations, Public Choice (ABDC A; ABS 3, JCR Q2), 188(3): 361-384, 2021, with Scharler Johann (co-first author)
- * Fish Exports and the Growth of the Agricultural Sector: The Case of South and South-East Asian Countries, Sustainability (JCR Q2), 13: 11177, 2021, with Emam, Md Ali and (minor contribution) Chen Tinggui (role: corresponding author)
- * Inward Worker Remittances and Economic Growth: The case of Bangladesh, Asian Journal of Applied Economics (JCR Q3), 28(2): 1-18, 2021, with Emam Md Ali and (minor contribution) Chen Tinggui (role: corresponding author)
- * Is confidence in companies rooted in social trust, or regulatory quality, or both?, Journal of Institutional Economics (ABDC A; ABS 3, JCR Q1), 16(3): 271-286, 2020, with Pitlik Hans (role: co-first author)
- * Granger-causes of the Ringgit-US Dollar exchange rate after 2005, Journal of Financial Economic Policy (ABDC B; ABS 1, JCR Q2), 12(1): 77-96, 2020, with Kan Yoke Yue (role: co-first author)
- * Determinants of Second Pillar Pension Reforms: Economic Crisis and Globalization, Journal of Pension Economics and Finance (ABDC B; ABS 2, JCR Q3), 19(3): 392-408, 2020, with Fong Joelle (role: co-first author)
- * Social trust, institutional and political constraints on the executive and deregulation of markets, European Journal of Political Economy (ABDC A; ABS 2, JCR Q1), 39(C): 249-268, 2015, with Pitlik Hans (role: co-first author)
- * Fiscal Policy and Business Cycle Volatility: How important are Credit Constraints? Economica (ABDC A; ABS 3, JCR Q2), 82(326): 201-221, 2015, with Scharler Johann (role: co-first author)
- * Determinants of seasonal labor migration from Armenia to Russia: An empirical investigation, Journal of Development Studies (ABDC A; ABS 3, JCR Q2), 50(3): 349-367, 2014, with Bellak Christian and Liebensteiner Mario (role: co-first author)
- * Modelling FDI based on a spatially augmented gravity model: Evidence for Central and Eastern European Countries. Journal of International Trade and Economic Development (ABDC B; ABS 1, JCR Q2), 23(8): 1206-1237, 2014, with Riedl Aleksandra (role: co-first author)
- * Social Partnership and Macroeconomic Performance: A descriptive analysis (in German). Austrian Economic Quarterly (Wifo Monthly Reports) (ABDC C), 87(8): 555-567, 2014, with Rocha-Akis Silvia (role: co-first author)
- Subdued Economic Growth, High Unemployment and Fiscal Consolidation Shaping the Economic Outlook. Medium-term Forecast for the Austrian Economy until 2018. Wifo Bulletin, 19(3): 21-34, 2014, with Baumgartner Josef and Kaniovski Serguei (role: co-first author)
- * Political budget cycles - evidence from disaggregated public expenditure data, Economics Letters (ABDC A; ABS 3, JCR Q2), 121(1): 128-132, 2013, with Enkelmann Sören (role: co-first author)
- * When Are Fiscal Adjustments Successful? The Role of Social Capital, Applied Economics Letters (ABDC B; ABS 1, JCR Q3), 20(18): 1640-1643, 2013, with Scharler Johann (role: co-first author)
- Tax Evasion and Tax Avoidance in Times of Crises: Measures, Size and Policy Options (in German). Wirtschaftsdienst, 2013(6): 366-369, with Schratzenstaller-Altzinger Margit (role: co-first author)
- * Tax competition as a cause of falling corporate income taxes. Journal of Economic Surveys (ABDC A; ABS 2, JCR Q1), 26(4): 616-648, 2012, with (minor contribution) Hochgatterer Claudia (role: first author)
- * Financial Markets, Banks, and International Consumption Risk Sharing. German Economic Review (ABDC B; ABS 2, JCR Q3), 13(3): 331-351, 2012, with Scharler Johann (role: co-first author)
- * How does globalization affect the tax burden on labour income, capital income and consumption in different welfare regimes? The case of Western and Eastern EU Member States. Economic Inquiry (ABDC A; ABS 3, JCR Q3), 50(4): 880-904, 2011, with Bösch Valerie and Onaran Ozlem (role: co-first author)
- * Borrowing Constraints and International Risk Sharing: Evidence from Asymmetric Error-Correction. Applied Economics (ABDC A; ABS 2, JCR Q2), 43(17): 2177-2184, 2011, with Scharler Johann (role: co-first author)
- * Does the impact of employment protection legislation on foreign direct investment differ by the low-skill intensity of sectors? An empirical investigation. The World Economy (ABDC A; ABS 2, JCR Q1), 34(10): 1726-1744, 2011, with Bellak Christian (role: co-first author)
- * Globalization and the Structure of Public Spending in the Western and Eastern EU Member States. Public Choice (ABDC A; ABS 3, JCR Q2), 148(3): 569-594, 2010, with Klien Michael and Onaran Ozlem (role: co-first author)
- * The role of public policy in closing Foreign Direct Investment gaps: An empirical analysis. Empirica (ABDC C; ABS 1, JCR Q2), 37(1): 19-46, 2010, with Bellak Christian and Stehrer Robert (role: co-first author)
- * Does lowering dividend tax rates increase dividends repatriated? Evidence of intra-firm dividend repatriation policies by German Multinational Enterprises. European Journal of Public Finance (FinanzArchiv) (ABDC B; ABS 1, JCR Q4), 66(4): 350-383, 2010, with Bellak Christian (role: co-first author)
- * Attracting Foreign Direct Investment: The Public Policy Scope for South-East European Countries. Eastern Journal of European Studies (Scopus Q2), 1(2): 37-53, 2010, with Bellak Christian and Liebensteiner Mario (role: co-first author)
- * Government Size and International Consumption Risk Sharing. Empirical Economics Letters (ABDC C), 9(1): 121-136, 2010, with Scharler Johann (role: co-first author)
- * Infrastructure Endowment and Corporate Income Taxes as Determinants of Foreign Direct Investment in Central and Eastern European Countries. The World Economy (ABDC A; ABS 2, JCR Q1), 32(2): 267-290, 2009, with Bellak Christian and (minor contribution) Damijan Joze (role: co-first author)
- * How Important is Employment Protection Legislation for Foreign Direct Investment Flows in Central and Eastern European Countries? The Economics of Transition (ABDC A; ABS 2, JCR Q3), 17(2): 175-295, 2009, with Scharler Johann (role: co-first author)
- * Do low corporate income tax rates attract FDI? - Evidence from Central- and East European Countries. Applied Economics (ABDC A; ABS 2, JCR Q2), 41(21): 2691-2703, 2009, with Bellak Christian (paper won the WU City of Vienna Best Paper Award in 2009) (role: co-first author)
- * Reconsidering Risk Sharing among OECD Countries: Some Evidence based on Panel Cointegration. Open Economies Review (ABDC B; ABS 2, JCR Q3), 19(4): 493-505, 2008, with Scharler Johann (role: co-first author)
- * Labour costs and FDI-flows into Central and Eastern European Countries: a survey of the literature and empirical evidence. Structural Change and Economic Dynamics (ABDC B; ABS 2, JCR Q1), 19(1): 17-37, 2008, with Bellak Christian and Riedl Aleksandra (role: co-first author)
- * On the appropriate measure of the tax burden on Foreign Direct Investment to the CEECs. Applied Economics Letters (ABDC B; ABS 1, JCR Q3), 14(8): 603-606, 2007, with Bellak Christian (role: co-first author)
- * Improving infrastructure or lowering taxes to attract foreign direct investment? Columbia FDI Perspectives No. 6, 2009, with Bellak Christian (role: co-first author)
- Measuring a Country's FDI-Gap and Policy Options for Closing it (in German). Wirtschaftspolitische Blätter, 55(3): 357-370, 2008, with Bellak Christian (role: co-first author)
- Taxation of Multinational Enterprises in Central and East European Countries (in German). Wirtschaft und Gesellschaft, 33(1): 93-117, 2005, with Bellak Christian (role: co-first author)
- * Accuracy and unbiasedness of tax revenue forecasting in Austria (in German). Austrian Journal of Statistics (Scopus Q3), 33(3): 315-326, 2004 (role: first author)
- Average effective tax rates in CEE and EU countries. The Vienna Institute of International Economic Studies Monthly Report, 2002/(8-9): 1-6, with Römisch Roman (role: co-first author)
- New Rules for Measuring Size and Structure of the Public Sector in the System of National Accounts (in German). Das Österreichische Haushaltswesen, 41(2): 32-68, 2001 (role: first author)
- The Structure of Tax Revenues in CEE and EU Countries: A Comparison. The Vienna Institute of International Economic Studies Monthly Report, 2001/(8): 12-18, with Römisch Roman (role: co-first author)
Journal Publications with Minor Contributions
- * The relationship between supply chain resilience, supply chain integration, and supply chain performance: A MASEM analysis, Journal of Intelligent & Fuzzy Systems (JCR Q4), 45(2): 3361–3377, 2023, with Qianhu Xu (principal author) et al. (role: fourth author)
- * Between Tradition, Strategies and Taste: Understanding Fish Consumption Habits in Togo, Sustainability (JCR Q2), 14 (18): 11475, 2022, with N’Souvi Victor (principal author) et al. (role: fourth author)
- * The moderating effect of perceived policy effectiveness in residents’ waste classification intentions: A study of Bengbu, China, Sustainability (JCR Q2), 14 (2): 801, 2022, with Shen Xin (principal author) et al. (role: third author)
Publications in Books (* = Refereed)
- * The generalized use of investment incentives. In: Rethinking Investment Incentives: Trends and Policy Options, Tavares-Lehmann A., Toledano P., Johnson L., and Sachs L. (eds.), pp. 63-93. New York: Columbia University Press, 2016, with Bellak Christian (role: co-first author)
- The transport and IT infrastructure in SEE countries. In: Doing Business in South-East Europe, Döring T., and Sternad D. (eds.), pp. 294-321. Houndmills, Basingstoke: Palgrave Macmillan, 2012, with Liebensteiner Mario (role: co-first author)
- * Double Tax Avoidance and Tax Competition for Mobile Capital. In: Tax Coordination and Harmonization - Virtues and Pitfalls from an Interdisciplinary Perspective, Zagler M. (ed.), pp. 61-97. London and New York: Routledge, 2010, with Rixen Thomas (role: co-first author)
- * Corporate Income Taxation in Central and Eastern Europe Countries and Tax Competition for Foreign Direct Investment. In: Foreign Direct Investment, Location and Competitiveness, Progress in International Business Research Volume 2, Dunning J.H. and Gugler P. (eds.), pp. 133-156. Amsterdam: Elsevier, 2009, with Bellak Christian (paper won The International Journal of Emerging Markets Award for the Best Emerging Markets Paper presented at the European International Business Academy in 2006) (role: co-first author)
- Taxes, Infrastructure and FDI in Central and Eastern European Countries. In: Foreign Direct Investment, Economic Growth and Labour Market Performance: Empirical Evidence from New EU Countries, Birsan M., Hunya G., and Siedschlag I. (eds.), 33-44. Cluj Napoca: Editura Fundatia Pentru Studii Europene, 2008, with Bellak Christian (role: co-first author)
- Globalization and the Taxation of Capital and Labour (in German). In: The Changing Economic Role of the Public Sector, Kostal T., Leibrecht M. and Pasterniak A. (eds.), 53-74. Vienna: Facultas, 2008, with Imhof Stefan (role: co-first author)
- * How to make FDI in Central and Eastern European countries sustainable? In: Foreign Direct Investment in Europe, Liebscher K., Christl J., and Ritzberger-Grünwald D. (eds.), pp. 226-236. Cheltenham: Edward Elgar, 2007, with Bellak Christian (role: co-first author)
- * Corporate Income Tax Competition and the Scope for National Tax Policy in the Enlarged Europe. In: National Tax Policy - To be or Not to be?, Andersson K., Eberhartinger E., and Oxelheim L. (eds.), 2007, pp. 11-43. Berlin, New York: Springer, with Bellak Christian (role: co-first author)
- * Some Further Evidence on the Role of Effective Corporate Income Taxes as Determinant of Foreign Direct Investment in Central and East European Countries. Proceedings of the National Tax Association Conference, pp. 331-342, American National Tax Association, 2006, with Bellak Christian (role: co-first author)
- Effective Tax Rates as a Determinant of Foreign Direct Investment in Central and East European Countries: A Panel Analysis. In: Multinationals, clusters, and innovation. Does Public Policy matter? Tavares A. and Teixeira A. (eds.), 272-289. Basingstoke: Palgrave Macmillan, 2006, with Bellak Christian (role: co-first author)
Monographs (Books, Edited Books, Research Reports; * = Refereed)
- Do financial crises have long-term impacts on the composition of public budgets? Research Report for Anniversary Fund Project No. 15790, Austrian Central Bank, 2016, with Johann Scharler (role: co-first author)
- *Social Partnership and Macroeconomic Performance (in German). Wifo Studies No. 47406, Austrian Institute of Economic Research, 2014, with Rocha-Akis Silvia (role: co-first author)
- The Changing Economic Role of the Public Sector (in German), Vienna: Facultas, 2008, Editor with Kostal Thomas and Pasterniak Angelika (role: co-first author)
- *Tax Revenue Forecasting in Austria (in German). Wiesbaden: Springer, 2004 (book won Stephan Koren Price for best PhD-thesis at WU in 2003) (role: first author)
- *Tax Revenues of Local Governments in Austria (in German). Wifo Studies No. 2003/7, Austrian Institute of Economic Research, 2003 (role: first author)
- Taxation and EU Enlargement: A comparative analysis of the tax systems in the EU and the CEE countries and evaluation of the effects of an EU-Enlargement on those tax systems. Research Report for Anniversary Fund Project No. 8875, Austrian Central Bank, 2002, with Laski Kazimierz and Römisch Roman (role: co-first author)
- Comparison of Tax Burden. Research Report No. 292, The Vienna Institute of International Economic Studies, 2002, with Römisch Roman (role: co-first author)
Published Working Papers (* = Refereed)
- Reforming International Investment Agreements: The Case of China and Foreign Direct Investment, Vienna University of Economics and Business Economics Working Papers # 329, 2022, with Bellak Christian and Chaisse Julien (role: co-first author)
- Fiscal Dynamics after a Financial Crisis: Evidence from OECD Countries, Henley Business School, University of Reading, ICMA Centre Discussion Paper ICM-2-17-04, 2017, with Scharler Johann (role: co-first author)
- An alternative formulation of the Devereux-Griffith effective average tax rates for international investment. Vienna Institute for International Economic Studies Working Papers 39, 2006, with Roemisch Roman (role: second author)
- * AQM-06: The Macro-economic Model of the OeNB. Austrian Central Bank Working Paper No. 132, 2006, with Schneider Martin (role: second author)
Research Grants
- Shanghai 1000 Talents Plan grant, Principal Investigator (2021)
- Shanghai Universities Oriental Scholar grant, Principal Investigator (2020-2023)
- Singapore University of Social Sciences Centre for Applied Research grant on “The political economy of market- based structural economic reforms in East Asia”, Principal Investigator (2016)
- Austrian Central Bank Anniversary Fund Project on “Fiscal costs of financial crises”, Principal Investigator (2015)
- Austrian Chamber of Commerce grant on “Social partnership and Macroeconomic Performance”, Co-Principal Investigator (2014)
- Research Centre International Economics Project on “Determinants of inward Foreign Direct Investment”, Co-Investigator (2009)
- Austrian Central Bank Anniversary Fund Project on “Financial markets, banks and international consumption risk sharing”, Principal Investigator (2008)
- Austrian Science Fund Project F-2013 on “Taxes and Infrastructure as Determinants of Foreign Direct Investment”, Principal Investigator (2007-2010)
- Austrian Science Fund Project F-2012 on “Causes and Consequences of FDI in CEECs”, Co-Investigator
- Festo (LLC) grant for project “Capital flows to new EU Member States: Determinants and Effects”, Principal Investigator (2008-2010)
- Austrian Science Fund Project on “Taxes and the location decisions of Multinational Enterprises in Central and Eastern European Countries”, Co-Investigator (2005-2007)
- Austrian Association of Cities and Towns Project on “Local Public Finances in Austria”, Principal Investigator (2004)
- Austrian Central Bank Anniversary Fund Project on “Tax Structures in Central and Eastern European Countries”, Co-Principal Investigator (2002)
Recent Teaching Awards
- Shanghai Ocean University Talent Cultivation Award (2022)
- Outstanding Teacher of the Year 2020 at SHUMBA (2021)
- Associate Fellow of Higher Education (UK, 2017)
Recent Research Awards
- Humanities and Social Science Award of Shanghai Ocean University, 2022
- Shanghai Universities Oriental Scholar, 2020 – 2023
- Shanghai Thousand Talents Plan program, 2021
Referee/Reviewer
Agriculture, Applied Economics, China Finance Review International, China Economic Review, Cogent Social Sciences, Cogent Economics and Finance, Columbia University Press, Czech Journal of Economics and Finance, Economic Change and Restructuring, Economics of Governance, Economic Modelling, Economics of Transition, Egypt Journal of Aquatic Sciences, Empirica - Journal of European Economics, European Integration online Papers, Emerging Markets Finance and Trade, European Journal of Political Economy, Finance Research Letters, Heliyon, Humanities and Social Sciences Communications, International Tax and Public Finance, Journal of Applied Economics, Journal of Asian Economics, Journal of Economic Structures, Journal of Financial Economic Policy, Journal of Risk and Financial Management, Journal of General Management, Journal of International Trade and Economic Development, Journal of Institutional Economics, Management International Review, Politics & Policy; Public Money and Management, Review of World Economics, Singapore Economic Review, Structural Change and Economic Dynamics, Sustainability, The World Economy, Vienna Yearbook of Population Research; Austrian Central Bank Anniversary Fund, Austrian Economic Association Annual Meetings, European International Business Academy Conferences; Judge 11th Convergence Conference, James Cook University, Singapore