Based on a contingent valuation study in Shanghai the authors assess people’s willingness to contribute personally to the alleviation of environmental problems occurring in distant parts of the country. One split of survey assessed Shanghai residents’ willingness to pay for the preservation...

The review of recent literature shows the relationship between shadow economy and economic growth is ambiguous. This paper attempts to answer whether the relationship between shadow economy and economic growth depends on the level of development or not? In this way, the Shadow Economy...

This paper presents an empirical analysis of the relationship between fiscal illusion and the shadow economy for 104 countries over the period 1989–2009. We argue that both unobservable phenomena are closely linked to each other, as the creation of a fiscal illusion may be helpful if...

This paper finds an empirical evidence that al Qaeda behaves as a contest organizer rewarding a prize to candidate extremist groups. Would-be terrorists must then compete with each other to prove their commitment and ability. Hence to maximize their own probability of winning the prize, each...

The present paper investigates the link between the shadow economy and FDI using the Granger panel causality test. For that purpose we use the shadow economy and FDI data for 145 countries of five data points 1999/2000, 2001/2002, 2002/2003, 2003/2004 and 2004/2005. The system GMM estimation...

This study of regional South-South (S-S) trade and cooperation in East, South and South-East Asian countries (ESSEA) aims to provide an economic rationale for S-S trade; shed some light on the extent and pattern of S-S trade in the ESSEA region; examine the dynamic forces behind the expansion of...

After ten years of Asian crisis, it is still unclear what the roots of crises are really. This paper seeks to the explanation of the evolution of the capitalism system in Indonesia for gaining an important indication of the root of crisis as well as the future risk of crises of the Indonesia’s...

In this paper, we provide a characterization of interim inefficiency in stochastic economies of overlapping generations under possibly sequentially incomplete markets. With respect to the established body of results in the literature, we remove the hypothesis of two-period horizons, by...

This paper presents a modified national accounting system tailored to a description of Research and Development (R&D)in the national economy. The main differences with the standard national accounts are some changes in the basic concepts (e.g. own-account production of R&D is considered as...

This paper explores, using Japanese panel data for the years 1988-2002, how externalities from congestion and human capital influence deaths caused by chronic illnesses. Major findings through fixed effects 2SLS estimation were as follows: (1) the number of deaths were smaller in more...