This paper discusses the design, implementation and use of standards from the perspective of transaction costs economics. A proper design and implementation of standards may lead to a considerable reduction of transaction costs, which enhances trade and, consequently, economic welfare. A major...

A recent literature has emerged providing compelling evidence that a major shift in the organization of the developed economies has been taking place: away from what has been characterized as the managed economy towards the entrepreneurial economy. In particular, the empirical evidence provides...

A recent literature has emerged providing compelling evidence that a major shift in the organization of the developed economies has been taking place: away from what has been characterized as the managed economy towards the entrepreneurial economy. In particular, the empirical evidence provides...

The authors of this paper hypothesize that one of the most significant features of regional competitiveness in the global economy is innovation development and that through innovation application, underdeveloped regions can reduce the gap between them and leading regions and can in turn surpass...

The purpose of this article is to classify existing approaches to analyzing theoretical and methodological aspects of innovation development in modern economic systems. We also present a new approach based on existing ones that combines advantages, eliminates drawbacks, and offers means of...