Global financial crisis, arising from real estate and finance sectors, has caused extra ordinary costs for the world economy. Problems in the public management model of the US finance and real estate sectors would be accepted as one of the important reasons of the financial failures in the US...

As observed at least in last two decades, financial engineering has not only changed the way of doing business in finance world, but also has changed daily life of average citizens in the leading economies. Structured products named as weapons of mass destruction in some post-crisis comments....

This paper presents a survey of theoretical models of heterogeneity, growth and competitiveness. We compare two main theoretical traditions, evolutionary economics and mainstream heterogeneity models, in order to investigate whether the incorporation of heterogeneous agents has made the recent...

The article presents a critical review of evolutionary and new growth theories. The purpose is to discuss the often-made claim that the two approaches, both inspired by Schumpeter’s seminal work, are becoming more and more similar in terms of the sources and mechanisms of the growth process on...

This article presents a model of macroeconomic growth that combines in a single formalization two complementary views on innovation and economic growth, the technology-gap approach and the Kaldorian theory of cumulative causation. The model suggests that what matters for economic growth in the...

The article discusses a critical realist interpretation of evolutionary growth theorising by focusing on some of its basic characteristics. The evolutionary ontology is complex, differentiated, structured, systemic, open, ever-changing, and radically uncertain. Its methodology tends to be...

This study examines both short-run and long-run causal relationship between stock market capitalization, trade openness and economic growth in Thailand. Quarterly data over the period from the first quarter of 1993 to the fourth quarter of 2013 are used in the analysis. The results from this...

This paper investigates the causal relationship between electricity consumption and real GDP by applying the bounds testing for cointegration in a multivariate framework. The error correction mechanism is employed to detect causal relationship in the presence of cointegration among three...

This paper investigates the causal relationship between electricity consumption and real GDP by applying the bounds testing for cointegration in a multivariate framework. The error correction mechanism is employed to detect causal relationship in the presence of cointegration among three...

This study examines both short-run and long-run causal relationship between stock market capitalization, trade openness and economic growth in Thailand. Quarterly data over the period from the first quarter of 1993 to the fourth quarter of 2013 are used in the analysis. The results from this...