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This paper looks at the history of money and its modern form from a scientific and mathematical point of view. The approach here is to emphasize simplicity. A straightforward model and algebraic formula for a large economy analogous to the ideal gas law of thermodynamics is proposed. It may be...
Persistent link: https://www.econbiz.de/10005126382
When asymmetry or non-verifiability of information, or non- excludability of users, makes contracts incomplete or unenforceable, and where for these and other reasons there are impediments to efficient bargaining, we show that private contracting will not generally assign the control of assets...
Persistent link: https://www.econbiz.de/10005134997
This paper develops a proxy measure of the inequality of influence on the basis of survey evidence from 2002 Business Environment and Enterprise Performance Survey (BEEPS) conducted among 6,500 firms in 27 transition countries. We refer to the resulting inequality as crony bias in the political...
Persistent link: https://www.econbiz.de/10005407672
and performance of firms, we find that: i) corruption reduces FDI inflows and attracts lower quality investment in terms … than being construed as a case against foreign investment; we argue that state capture is created and maintained through …
Persistent link: https://www.econbiz.de/10005407674
Recent studies have focussed on the characteristics and policies of the state to explain the extent and causes of corruption, with little attention paid to the role played by firms. Consequently, the links between corporate governance and national governance have been unexplored. This paper...
Persistent link: https://www.econbiz.de/10005407751
and development relative to other determinants, or not. Further, drawbacks exist from excessive reliance on narrow …
Persistent link: https://www.econbiz.de/10005118669
determinants of the investment climate. We posit that the interplay between the elite’s vested interests and the political dynamics …
Persistent link: https://www.econbiz.de/10005561333
sustainable development. Looming environmental crises have served as a prime motivating force for reevaluating fundamental … begun to reshape economics. The broadest conception of sustainability is found if we understand sustainable development to … mean Socially And Environmentally Just And Sustainable development - "SAEJAS development". Throughout the paper we will see …
Persistent link: https://www.econbiz.de/10005556099
-dimensional, it is conceptualised as a goal and as a process that accelerates growth, equity and human development potential. We … development outcomes such as life expectancy, literacy, infant mortality rate and per capita income (logarithms of), within the … better quality of governance leads to better development outcomes. …
Persistent link: https://www.econbiz.de/10005118765
IV estimates of the link between profits and investment in the Czech Republic find a complex relationship. While firms …
Persistent link: https://www.econbiz.de/10005135117