Toward the end of World War 2, British and U.S. governments created a joint program to investigate German technology and requisitioned numerous technical documentations, some of which were opened to public as technical reports. Japanese industries, refereeing them to as the gPB reportsh, tried...

A sustainable fiscal state needs to have two critical factors: A stable tax base and access to an efficient bond market. The Tokugawa Shogunate had a stable land tax revenue, which was inherited to modern Japan after the Meiji restoration. Taxation, however, was restricted by the constitution...

This paper explores the transformation of the economy and society in early colonial Bengal, roughly between c.1780 and c.1840, through a case study of the salt trade and its changes. It argues that several private trade institutions, particularly various types of intermediaries at different...

This paper provides a dynamic general equilibrium framework to investigate how organizations change the modes to govern transactions over time. We show that the agency problem becomes less serious when the economy is developed well so that large market size favors decentralized organizations...

In this paper we present a dynamic general equilibrium model to investigate how different contracting modes based on formal and relational enforcements endogenously emerge and are dynamically linked with the process of economic development. Formal contracts are enforced by third party...

In this paper, we investigate causal relationships among exports, imports, and economic growth in North Korea by using time series data for the period between 1964 and 2004. The empirical results show that there was Granger causality from imports to GNP in the first half of the period. However,...

The purpose of this paper is to investigate what decreases TFP, why TFP has decreased in some countries and how large the decreases of TFP are. We focus on the quality of labor and capital inputs and use cross country data for the manufacturing industries of some OECD countries. We provide a...

A mutual link between poverty and environmental degradation is examined in an overlapping generations model with environmental externality, human capital, and credit constraints. Environmental quality affects labor productivity and thus wealth dynamics, whereas wealth distribution determines the...

This paper examines how different education systems affect GDP by influencing the diversity of human capital. We construct an overlapping generation model in which agents are heterogeneous in income and innate ability, and the final goods are produced with differentiated intermediate goods. We...

We examine dynamic patterns of macroeconomic variables in East Asia immediately after the Asian financial crisis. Particularly, focusing on East Asia, we can identify their distinctive features from those of aggregate cross-country results. Also, we check with the financial crises in East Asia...