Over the past few decades Islamic finance has been the fastest growing segment of the global system. The fast growing market has necessitated corresponding expansion of education and training facilities to increase appropriately the supply of skilled manpower. This called for a stock taking of...

Over the past few decades Islamic finance has been the fastest growing segment of the global system. The fast growing market has necessitated corresponding expansion of education and training facilities to increase appropriately the supply of skilled manpower. This called for a stock taking of...

This paper develops a simple demand model with network externalities which allow us to identify the shape of the network externalities function in the mobile telephone market and to estimate the critical mass. If the mobile telephone network exhibits positive network externalities, we expect...

If the established rules are obeyed spontaneously in an economy, this increases economic efficiency since the uncertainties, monitoring costs and incentive problems induced by opportunism can be avoided. Opportunism will be increasedby increasing the incentives for unlawful behaviour, however,...

The paper explores the evolution of global networks. Examples include networks which process cross-border securities trades: CEDEL, Euroclear, and FITEL. I formalize a network market with many users: due to fixed costs the supply is downward slopping, and due to externalities the demand is...

This work is a trial conceptualization of the concepts related to the technology diffusion process, namely – ‘technological take-off’ and the ‘critical mass’. It demonstrates the ‘step-by-step’ procedure of the identification of the ‘critical mass’, and the interval when the...

The International Energy Association has observed that nearly all countries now offer or are planning feed-in tariffs (FiTs) for solar PV but debate has shifted from ‘if or how to implement a FiT’ to ‘how to move to a self-sustaining market post FiT’. The aim of this paper is to explain...

Conventional theory says that innovations first diffuse slowly, then at faster paces, and finally at asymptotically declining rates. Economists and others explain such behavior with a variety of logistic models. Early models like the contagion model derive their predictive power from reliance on...

This non-technical summary presents the findings and recommendations from the project called ‘Analysis of institutional adaptability to redress electricity infrastructure vulnerability due to climate change’. The objectives of the project are to examine the adaptive capacity of existing...

In this paper we discuss two propositions: the supply and demand of knowledge, and network externalities. We outline the characteristics that distinguish knowledge-intensive industries from the general run of manufacturing and service businesses. Knowledge intensity and knowledge specialisation...