Although the socio-economic development of many nations during the last two centuries has been very impressive, there are many issues questioning the sustainability of this development. Questions have been raised whether increased consumption will lead to increased happiness, or whether people...

It is often stated that globalization makes a smaller world by institutional conver-gence. Economic orders become alike across the world. This article addresses institutional change triggered by the global financial crisis of 2008/2009 and challenges this general conviction of worldwide...

While the DPRK (North Korea) is on its way ahead to reform the socialist based economic system, since a few years the Republic of Korea (South Korea) is integrating into East Asian economic structures like ASEAN plus 3. In this way a possible reunification of Korea as well as a single...

After the fundamental changes of the early 1990s and before Estonia joined the EU, many neo-liberal economists regarded Estonia as their model student - due to the country's economic principles. Economic growth has been positive from 1995 on (except in 1999) until 2007, and above the EU average....