This chapter presents a Wagnerian vision of macroeconomics as a hybrid of several schools of thought and analytic frameworks, including public choice theory, constitutional economics, complexity economics, and evolutionary economics. We then review recent economic analysis of emerging...

This paper studies the long-term effect of aid on bilateral trade and provides a new mechanism for this effect - aid fosters inter-group affinity. Our empirical setting is the Soviet aid to China during the 1950s, namely the 156 program, when numerous large-scale industrial plants were...

This paper studies the causal effect of technology and knowledge transfers on early industrial development. Between 1950 and 1957, the Soviet Union supported the “156 Projects” in China for building technologically advanced industrial facilities. We exploit idiosyncratic delays in project...

Why did the Beatles become a worldwide sensation? Why do some cultural products succeed and others fail? Why are some musicians, poets, and novels,, unsuccessful or unknown in their lifetimes, iconic figures decades or generation after their deaths? Why are success and failure so unpredictable?...

This survey discusses recent developments in the growing literature on the Russian economic history of the 19th and 20th centuries. Using novel data and modern empirical methods, this research generates new insights and provides important lessons for development economics and political economy....

Since its inception, Marxism has showcased the scientific superiority of political economy over economics. This article argues that Mao Zedong played an important role in demonstrating this superiority. In his A Critique of Soviet Economics, Mao criticised Soviet political economy for its...

BackgroundUkraine, one of the largest states formed on the rubble of the Soviet Union, is widely perceived as a country that has lost its opportunities. Being devastated by corruption, it shows incapable to modernize and enter the economic path of sustainable growth. Similarly in the health care...

A policy of deputization asks agents to monitor others without providing explicit incentives. It is often used to prevent dangerous activities. To calibrate whether and why it works, we study recent laws that deputized financial professionals to help fight elder financial abuse. We show...

Economic Reform 1991 is all about three major terms Liberalisation, Privatisation, and Globalisation where Liberalisation means making a country liberal and removing barriers from trade, Globalisation implies integrating the country with the global market, Privatisation reflects a kind of...