The purpose of this paper is to test whether institutional governance and its performance is a main driving force to achieve a positive relationship between natural resources and economic growth in the long run. The main objective is to ascertain what kind of institutional governance would be...

The study investigates disparities in social development in 144 countries worldwide. In the paper we aim to investigate cross-country differences in social development level in year 2011, as well as to estimate inequalities on the field. Secondly, we assess relative social development level...

The ultimate objective of the present paper is to empirically investigate the effectiveness of competition policy in developed and developing countries. Although its importance is continuously increasing, the effectiveness of competition policy still seems to lack the attention that it would...

Within the context of the Sustainable Development Goals (SDGs), the gender equality in education is considered one of the most challenging goals for most developing economies. Using Panel Least Square with Regional Dummies (LSDV) for a sample of Developing countries over the period 1990 to 2014,...

This article investigates the analytical line of reasoning in D. North’s, J. Wallis’ and B. Weingast’s research project “Violence and Social Orders”, which unifies in an institutional explanation scheme the control over violence in human societies, the equilibrium of interests among...

The movement of New Institutional Economics (NIE), born in the seventies, followed the Institutional Economics of John R. Commons by putting the notion of ‘transaction’ in the centre of its study. The seventies were a period of appearance of an absolute authority of neoclassical economics...

This paper discusses the ethical void in Capitalism which does not look prominent in welfare societies and states. But, its effects become more eminent in tough economic conditions. Unbridled pursuit of self interest, moral relativism, incentive-led economic choices and apathy to communal...

This paper draws on institutional and evolutionary economics and contributes to an approach to environmental policy which diverges from mainstream prescriptions. The 'socio-technical system' is the core concept: this is a complex made of co-evolving institutions, technologies, markets and actors...

The ownership has a very controversial place in the economics' history. While it was placed in the centre of the so called "socialist political economy", (actually, the issue of its abolishment), it is still taken for granted in the orthodox economics and little attention is paid on its...

The present paper attempts to assess whether at all and in what ways the development of alternative capital markets may help an additional mobilisation of the given economy's domestic financial resources, and, consequently, contribute significantly to economic development. Against the...