The first price runs for Korean rice help us develop a Smithian physiocratic model to explain the low, stable prices of the eighteenth century and the rising, volatile prices of the nineteenth. Ownership rights provided incentives, and productivity after 1600 exceeded subsistence to achieve...

This paper reassesses the debate over the role of education in farm production in Bangladesh using a large dataset on rice producing households from 141 villages. Average and stochastic production frontier functions are estimated to ascertain the effect of education on productivity and...

Sanjaya Lall saw economic development as an evolutionary process, with technological learning at its heart. This essay lays out the key differences between an evolutionary theory of economic activity and change, and the neoclassical theory as articulated in economic text books. It argues that...

In existing economic literature on finance and economy, it is argued and generally accepted that financial intermediation contributes to economic growth though the contending argument is that financial development is simply a result of economic growth. However, studies on the contribution of...

The core aim of this paper is to evaluate to what extent were companies able to join to the global value chains (GVCs) through some selected company case studies.

This paper gives an overview of John von Neumann’s methodology and provides a criticism of ’ordinary’ historical explanations concerning von Neumann’s writings. His broad multidisciplinary works are traditionally analysed within separate fields, completely detached from social and...

The concepts of social networks, social capital and trust and their impact on the economic arrangements and performance of nascent capitalist economies have raised many research questions in the post-socialist countries of Europe. The following paper is designed to summarize the directions and...

This recent book contains the essence of the outstanding work of Zelizer concerning her analysis of economic institutions from the perspective of culture and society. Economic activities are viewed using a micro-habitual approach according to which our casual habits and everyday actions are...