Contractual savings for housing (Bausparkassen) with narrow ranges of tariff plans are used to coexist with banking hypothec, providing consumers a binary choice . We propose to form systems (lines) of savings and loan tariff plans (SLTP) for bank accounts «linking» these two mortgage...

We develop a dynamic model for analyzing the programs of contractual savings for housing (CSH). We introduce concepts of stability as well as strong and weak stability of trajectories generated by CSH programs, and obtain the necessary and sufficient conditions that guarantee fulfillment of...

Taking advantage of a natural experiment and a rich household-level panel dataset, this paper tests the impact of an agricultural insurance program on household level production, borrowing, and saving. The empirical strategy includes both difference-in-difference and triple difference...

Since 1950s, most African nations have gained independence from their colonial powers. Fortunately, independence has brought many changes to these nations and these include multi-party democratic government and western education systems. Unfortunately, the Africa’s economy is the least...

Drawing from the literature on the determinants of corruption, this article examines the relationship between corruption and the nature of state of fragility. Robust empirical evidence shows a correlation between the level of corruption and state fragility. In a further assessment with the...

This paper uses a unique dataset to investigate the effect of the cognitive ability of leading politicians on state capacity. Given the evidence that cognitive ability of leading politicians’ affects state capacity positively, except Africa. For the continent, this relationship between state...

The institutional economics if John Commons (1934) contained two related objectives. The first was to explain the evolution of economics. The second was to analyze the effects of institutions on resource allocation and the distribution of income. The method of explaining the evolution of...

The paper explores the link between authoritative media, which is called the public court in the paper, and economic prosperity. Three types of evidence are used. First, arguments of the superiority of the public court over traditional media are provided. Second, a formal model shows a causal...

This paper presents an index of institutionalized social technologies covering its two main dimensions namely Risk reducing technologies and Anti Rent seeking technologies and in turn covers several social, institutional, political and economic aspects. Specifically it attempted to classify and...

Abstract The article deals with the basic elements of a rational strategy of economic development of Russia in the modern circumstances. The analysis shows that the current state of confrontation between Russia and the United States will last long enough. Trying to shorten the period of forced...