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This paper presents a somewhat novel theory of innovation in the economy wide setting. The starting point for this theory is the creative destruction process at the firm and industry level. However, an extension to an economy wide setting requires the explicit theorization of the role of the...
Persistent link: https://www.econbiz.de/10005837209
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...
Persistent link: https://www.econbiz.de/10013056564
The article explains the peculiarities of institutional effects on growth rates in post-communist countries. By proposing a certain dependence of the institution-growth nexus on the nature of institutional emergence, the distinction between revolutionary and evolutionary processes of institution...
Persistent link: https://www.econbiz.de/10011258823
The Informal Economy provides employment to more than 60 per cent of the labour population in the developing world …
Persistent link: https://www.econbiz.de/10009323213
This paper compares more direct measures of the institutional environment with both the instability proxies used by Barro (1991) and the Gastil indices, by comparing their effects both on growth and private investment. The results provide substantial support for the position that the...
Persistent link: https://www.econbiz.de/10008530718
The collapse of the communist system during the late 1980’s redefined the hierarchy among Central and Eastern European Countries (CEECs) and the former USSR. Some of these countries joined the EU ; some did not ; others formed the CIS . In particular, institutions, mainly market and political...
Persistent link: https://www.econbiz.de/10005616806
We present and test empirically a new theory of property and contract rights. Any incentive an autocrat has to respect such rights comes from his interest in future tax collections and national income and increases with his planning horizon. We find a compelling empirical relationship between...
Persistent link: https://www.econbiz.de/10008685583
The economic analysis of organized crime suggests that some economic activities are particularly vulnerable to penetration by criminal organizations. This paper provides an analysis of the structure of the Sicilian economy and shows that, when compared to other Italian regions, it is...
Persistent link: https://www.econbiz.de/10011112208
We investigate the possible interaction effects that the extent of property rights protection and separation of powers in a political system have on economic growth. Using analysis of panel data from more than countries over the period 1970-2010 we find that the growth effects of property rights...
Persistent link: https://www.econbiz.de/10011112508
Although the size of the informal economy is relatively large across Latin America and the Caribbean, it is not completely understood how deficiencies in the institutional environment may be related either to the propensity for entrepreneurship or the performance of entrepreneurs in the informal...
Persistent link: https://www.econbiz.de/10011113412