A new approach is presented. It is based on a generalization of a breach of a term of contract and on the economic uncertainty principle. Problems, which can be solved, research fields, which can be augmented or created, and fields of applications in practical economy are reviewed. The role of...

The aim of this article is to take stock of the theoretical debate and empirical findings concerning the impact of institutions on economic performance and the channels through which the institutional impact unfolds. The review is limited to work published until 2004 due to space limitations and...

Industrial policy and innovation policies need to be strongly revitalized and focused on LDC development. Given the concentration of several LDCs in forestry, fisheries, mining, agricultural commodities, and oil, the task of these revitalized industrial policies is to support locally relevant...

It is often argued that multinationals are reluctant to transfer technology due to the fear of spillovers. We show that this need not be the case if host country policies like taxation are taken into account. Furthermore, we examine the incentives the multinational and the host country have to...

This paper investigates the welfare effects of international transfers of environmental technologies in open economies with international oligopoly and transboundary pollution, and shows that policy differentiation between the donor and recipient countries and/or product differentiation between...

One of the most interesting indicators to show the change in the socio-economic role of universities in the last several decades has been the use of university patenting. However except some individual studies in European countries (e.g. Finland, Norway, Belgium, Italy, Germany and France) there...

An estimated 85% of Afghanistan’s population lives in rural areas, most of which are resource poor farmers whose livelihoods depend on agriculture and livestock in agro-pastoral or crop-livestock systems. Agriculture – including the processing of agricultural and livestock products --...

Why did the Japanese economy stagnate before World War II, how did it achieve rapid economic growth after the war, and why did it stagnate again after the 1970s? To answer these questions, I developed a two-country trade model with technology transfer, where rms in the two countries compete in a...