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The work of Friedrich Von Hayek contains several testable predictions about the nature of market processes. Vernon Smith termed the most important one the ‘Hayek hypothesis’: equilibrium prices and the gains from trade can be achieved in the presence of diffuse, decentralized information,...
Persistent link: https://www.econbiz.de/10008777368
The study here reviews the institutional structure of the Sudanese government. Truly, though it is stigmatized as totalitarian, the structure is phenotypically perfect. Ministry of Ministries council is supposed to cater for analyzing data concerning ministries performance, drawing strategic...
Persistent link: https://www.econbiz.de/10009359954
Information flows are necessary for well-functioning financial markets. However, in many emerging markets, the legal and institutional preconditions for proper information flow are not met. How do such markets respond? We argue that they respond by developing innovative information transmission...
Persistent link: https://www.econbiz.de/10005790077
The financing of innovation impacts on economic growth. What’s, among bank-based or market-based system, the best organizational form? The paper supports the view that both forms have to be merged into a unique approach (law and finance view) embracing not only the overall quality of the...
Persistent link: https://www.econbiz.de/10008753082
We analyze how financial experts influence asset prices in a sequential trading model. In the model, an expert of unknown ability sends a report about asset values to traders, who then observe a signal about the expert's type. All information about the expert's ability is private to traders and...
Persistent link: https://www.econbiz.de/10011110283
Islamic banking has achieved substantial growth in Pakistan and all over the world in the last two decades or so. Despite the financial and economic crisis of 2007 and afterwards, the Islamic banking industry has witnessed exemplary and uninterrupted growth. In Pakistan, it has achieved market...
Persistent link: https://www.econbiz.de/10011110646
The paper presents the analysis of recent developments of Schumpeterian theory of entrepreneurship and innovation in …
Persistent link: https://www.econbiz.de/10011212782
Economic growth and unemployment exhibit an ambiguous relationship – according to empirical studies. This ambiguity can be investigated by observing the role of the underground economy in shaping the productivity of firms. Indeed, unemployment may be absorbed by underground firms, which adopt...
Persistent link: https://www.econbiz.de/10011212957
Using case study analysis based on in-depth interviews we aim to extend the entrepreneurship research in transition … context in Poland. Entrepreneurship models build in America and Western Europe do not picture the specifics of … entrepreneurship in transition economies. The author reviews concepts and theses on entrepreneurship in this context and argues that …
Persistent link: https://www.econbiz.de/10011259343
varied across different enterprises. The findings are important in formulating policy for entrepreneurship development and …
Persistent link: https://www.econbiz.de/10011259889