The industrialization process of a country is often plagued by a failure to coordinate investment decisions. Using the Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how appropriate information provision enhances efficiency....

This paper attempts to clarify theoretically the link between remittances , industrialization by foreign capital as well as the size of its volatility. In particular, the model shows clearly that if the flows of foreign capital induce volatility in the economy, the bulk of remittances from the...

This paper explores the role of industrial clusters in the development of the Egyptian universities & research institutes (URIs), and economic performance. The study hypothesizes that the large industrial clusters in Egypt are old and traditional, and have weak impact on URIs, and economic...

Abstract Since long the economies of scale is mainly acknowledged in microeconomics. Alas, in macroeconomics field, the prevailing principle is the constant return to scales by rejecting the economies of scale without justifiable reasoning. But fixed costs and indivisibilities are widely present...

This articple presents a historical macroeconomic perspective to present a brief analysis on why the Philippines is performing the way it does today.

I highlight some of the key econometric problems facing the literature on FDI spillovers. For the most part, the existing literature takes the approach of estimating production functions in which the total factor productivity (TFP) of the domestic firms in a particular industry/country is...

The Industrial Revolution happened in Britain because by the 19-th century the eternal problem faced by humankind, i.e. the problem of hunger, had been resolved on a local scale. Thanks to a unique combination of factors, Britain just overtook the other West European countries (for a short...

This paper introduces the evolving understanding and conceptualization of innovation process models. From the discussion of different approaches towards the innovation process understanding and modeling two types of approaches to the evolution of innovation models are developed and discussed....