The objective of the current paper is to estimate the aggregate, country-level production function as a relationship between countries' aggregate inputs and their maximum attainable output, computed on the basis of the World Technology Frontier -- the best-practice frontier at each moment in...

Most technologies used nowadays are complex in the sense that the production processes (and products themselves) consist of a large number of components which might interact with each other in complementary ways. Based on this insight, the current paper assumes that the total productivity of any...

This paper provides evidence that bridging and bonding social capital as well as social trust may interdependently affect individuals' earnings and subjective well-being. Paper is based on cross-sectional World Values Survey 2000 data on individuals from Central and Eastern European countries...

The research and bank model developed in this paper for the case of Indonesia is motivated by the following: 1. A recent change in banking regulations in Indonesia, like the statutory reserve requirement and full implementation of Basel II in 2011, coupled with a lack of literature to document...

The past two decades have witnessed many episodes of economic reform across the developing world. Although initiated with popular enthusiasm, sustaining and completing these reform packages has turned out to be much more difficult, with policymakers having to `walk the line' between success and...

The article investigates the interrelations between the initial members of the Euro area and five Central and Eastern European economies.Structural vector error correction approach, theoretically derived restrictions on the cointegration matrix, generalized impulse response analysisHigh degree...

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This paper presents a comparative analysis of innovation behaviour at the firm level across countries with different levels of technological development. The literature has argued mostly from a macroeconomic perspective (e.g. Silverberg and Verspagen 1995, Acemoglu – Aghion – Zillibotti...

This paper is intended as a first approach to effectiveness of the wage reduction in promoting the international competitiveness of the Portuguese economy. It is general knowledge that the promotion of international competitiveness can be promoted by three distinct pathways. The first is to...