The purpose of this paper is to develop a testable theory, the interaction thesis, capable of explaining why do we observe differences in economic stability and growth rates between various countries; or - the same thing - why less efficient countries do not duplicate economic policies of more...

The report analyses the fiscal and macroeconomic environment in the lagging regions and the relevant Member States of the EU, as a sound and sustainable macroeconomic framework is a necessary, but by itself not a sufficient precondition for investment and growth in the regions. It starts with...

This book examines the measurement and econometric effects of ethnic diversity. This issue is of great relevance to research and policy and is currently being discussed a great deal in the literature. In particular, a sizable literature has suggested that ethnic diversity constitutes a...

In this paper we are going to analyze the dynamics of barriers to entry at the international level. In our model economic development takes place and continues in the long run due to the emergence of new sectors, which can compensate for the diminishing ability of mature sectors to create...

Die Arbeit beschäftigt sich mit der Frage, ob Kompensationszahlungen an die Verlierer der Transformation zu einer Verminderung des Konfliktes zwischen ihnen und den Gewinnern führen können. Eine Lösung des Konfliktes ist essentiell für die Weiterführung des Reformprozesses in den...

Capitalism is an economic and social order oriented toward the future. In this paper, I describe the unfolding of the temporal order of capitalism and relate it to the restless dynamism of capitalism we have observed since the Industrial Revolution. Since the future is open, actors are...

The implications of status preference in a simple open economy model will be investigated in this paper. The open economy is modeled as a continuum of identical representative agents who have preferences over consumption and status. In the paper status is identified as relative wealth, which...