This paper consits of two parts .. First part is a Static model..and models a globalised economy and observes the effects of sense of security between nations and the willingness of people to develop and cooperate.the Second part considers the world as a set of regions specialising in production...

This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...

The European Monetary Union (EMU) has been the subject of fierce controversies both among professional economists and ordinary people. This paper analyses the association between the degree of information of ordinary people and their opinion on EMU. In this context, we are concerned with basic...

The paper presents an index of globalization covering its three main dimensions: economic integration, social integration, and political integration. Using panel data for 123 countries in 1970-2000 the effects of the overall index of globalization as well as sub-indexes constructed to measure...

This paper proposes a “before-and-after” approach to empirical examination of the relationship between democracy and growth. Rather than the commonly used cross-country regression method, this paper compares the economic performances of forty countries before and after they became...

The need for monitoring countries’ overall performance in Sustainable Development (SD) is widely recognized, but the methods for aggregating vast amounts of empirical data remain rather crude. This paper examines the so-called ‘benefit-of-the-doubt’ weighting method as a tool for...

Various methods were proposed to understand the linkages in an input- output system; however many focused only on the identification of key sectors in the economy. An alternative approach, identifying analytically importance of elements and combinations of elements was proposed as a field of...

The purpose of this paper is to reassess the standard Solow growth model,using a dynamic panel data approach. A new methodology is chosen to deal with this problem. First, unit root tests for individual country time series were run. Second, panel data unit root and cointegration tests were...

The current research emphasis on institutions as key determinants of economic performance, rather than on resources and resource productivity, has uncovered important questions for further research. For example, if institutions are central to economic performance, then what explains observed...

Institutions either promote or constrain economic performance, but which parts of institutions advance or restrict performance, and why do economies sharing similar institutions sometimes perform differently? This paper is a modest attempt at addressing a small part of these questions. It...