This article, adapted from Tamura’s theoretical proposition, empirically investigates capital convergence in three country groups belonging to significantly different development categories: G7, developed and developing. Human capital evaluation, in this context, goes beyond enrolment and/or...

Cultural evolution is a long-term endogenous process which is revealed in society's cultural traits and it is embodied in institutional characteristics (property rights protection, rule of law, etc.) and transaction characteristics (risk levels, time required for start-ups, corruption levels,...

Optimal growth requires pro-growth institutions and culture. In an optimal growth pattern, institutions and culture facilitate entrepreneurship and innovation. In contrast, if the development and coevolution of institutions and culture are distorted, growth can become permanently stagnant, with...