The present paper reviews the causes that led to the financial crisis. Unlike other interpretations, this paper does not place main significance on a single source or on a set of causes. I consider all major standpoints highlighted by research and media prior, during and after the financial...

Social well-being is intrinsically multidimensional. Welfare indices attempting to reduce this complexity to a unique measure abound in many areas of economics and public policy. Ranking alternatives based on such measures depends, sometimes critically, on how the different dimensions of welfare...

A graph representation of the financial relations in a given monetary structure is proposed. It is argued that the graph of debt-liability relations is naturally organized and simplified into a tree structure, around banks and a central bank. Indeed, this optimal graph allows to perform payments...

The local economical development is part of the general logic for the decentralization process, offering substance to the local autonomy, because we can’t assure at local level only the obligation for the assurance of administrative activities, keeping at the same time the economic levers in...

What are the income inequality sources for local governments? In this paper is analyzed the case of Lima government incomes (transfers from Central Government) and it is found that they are all highly unequal. This outcome implies that not only mining taxes transfers are unequal, but also the...

The paper looks a China's institutional reforms in public finances against the background of European experiences. Particular attention is given to Switzerland and Germany where there is a high degree of consensus forming mechanisms. These federations are also characterized by concepts of...

The necessity for change in the management of the public sector is obvious and irrefutable. W. Kieżun criticized the current state of public administration in Poland very strongly finding it brimming in "gigantomania" (excessive development of organizational structures), "luxury-mania" (the...

Article about the prospects of regional economic governance in Russia. The author analyzes the problems and contradictions arising in the implementation of government economic policy on the basis of the methodology of general systems theory and the theory of self-organization.

Corruption is an issue of increasing visibility in the academic and policy literature on governance and public policy. Whilst it is often talked about, there appears to be some lack of clarity on both its nature and the nature of its determinants. This has led to some increase in the effort to...

The infrastructure (transport) is essential for the economic development of a region. If we are taking into consideration the tourism industry and other tourist activities, the importance of the infrastructure is higher, due to the fact that the attractiveness is increased by the comfort and the...