This article gives an overview of the life and work of Bulgarian economist Georgi Danailov in the beginning of the 20th century. Studied consequently in Moscow, Berlin, Munich and Vienna under such influential scholars of his time as Chuprov, Yanzhulov, Schmoller, Sombart and Brentano, Danailov...

This report has focused on many aspects linked to objectives of the WP3. We have tried to identify the main relations amongst the different levels of governance; we have also explored and described the delivery systems in different contexts, including those with a LEADER-like approach. The...

This article investigates the analytical line of reasoning in D. North’s, J. Wallis’ and B. Weingast’s research project “Violence and Social Orders”, which unifies in an institutional explanation scheme the control over violence in human societies, the equilibrium of interests among...

The movement of New Institutional Economics (NIE), born in the seventies, followed the Institutional Economics of John R. Commons by putting the notion of ‘transaction’ in the centre of its study. The seventies were a period of appearance of an absolute authority of neoclassical economics...

This paper examines how the development of railroads in the region established enduring ties with financiers on the East coast and Europe, and how these ties facilitated the exercise of power for certain individuals central in their respective social networks. These men of railroads and finance...

The present paper treats the issue of economic foundations, on which political power rests, and the specific problem of public debt in the developed countries. Starting from the general question: “Why do rich governments borrow so much?” the paper develops a model of political power based on...

This paper is motivated by the observation that (1) socio economic analysis uses significantly less formalisms than mainstream economics, and (2) that there exist numerous situations in which socio economics could benefit from a more formal analysis. This is particularly the case if institutions...

This study introduces a comprehensive model of institutional grafting by examining the formation of legal institutions as shaped by three forces: (1) cultural, (2) structural, and (3) political. The model is used to argue that a country's growth rates are a function of the distance that new...

The main objective of this paper is to explore the possible common grounds, divergences and complementarities between the Veblenian’s approach on the Theory of Business Enterprise followed by Institutional economists, and the modern Post Keynesian Micro theory on Business enterprise. Due to...

In poorly developed market economies, high transactions and related costs, produce a pattern of market organizations with heavy relianceon traditional institutions for handling transactions.The family is one such institution because family ties or bonds allow more efficien, tcontractual...