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institutions that define any economic system. Within society, people are perceptive to a system of general rules that provides … incentives and constraints for human behavior. Institutions' and human action's mutuality, and also its economic and political … implications, explain the essential importance of institutions in economic science and the institutional approach viability. …
Persistent link: https://www.econbiz.de/10005087792
This paper focuses on the role of institutions in enhancing economic growth. Attention to the institutional environment … specialization and the division of labor. Instead, development is seen as a response to the evolution of institutions that support …. That is, institutions do matter when it comes to costs minimizing or, in other words, the secret of obtaining efficient …
Persistent link: https://www.econbiz.de/10005669010
An externality exists whenever a transaction creates a cost or a benefit for a party not directly involved. Pollution, such as smoke emitted into the air or sewage poured into the water is an externality. In this paper I analyze the differences between Neo-classical and Austrian School of...
Persistent link: https://www.econbiz.de/10005087786
In our tentative to bring some useful elements necessary in defining our transition, we think we should start from … establishing the final goals of this process. This means that, from the very beginning, we accept the thesis that the transition …
Persistent link: https://www.econbiz.de/10005125375
Romania began its demographic transition about one century later than the developed countries. We put the blame of this … to have a child or how large should be the family. During transition, Romania has pointed many negative demographic … evolutions, as compared with the other european countries. It may be said that the transition in Romania over the period 1990 …
Persistent link: https://www.econbiz.de/10005099769
A succinct analysis of the world economics, generally, and European, especially permits to observe some undoubted definitive features, as the continuous supply diversification and instauration under the impact of knowledge society, markets globalization, and, most of all, the continuous growth...
Persistent link: https://www.econbiz.de/10005099770
Romania was beginning in 1990 a complex process of transition. The Romanian centralized economy has failed and our … area, the objective of the reforms constituted the transition to market economy, but we must find the ways to resolve other …
Persistent link: https://www.econbiz.de/10008603095
The reform process of the National Bank of Romania has started sixteen years ago since the communist regime was eliminated. The perspectives of Romania's EU accession enforced this process and the NBR accounted performances in targeting its objectives. In this study we underline the challenges...
Persistent link: https://www.econbiz.de/10005669025
The role played by endogenous growth models in growth literature might be analyzed from two perspectives. In the first place, is it emphasized the necessity to replace the hypothesis of perfect competition with monopolistic competition in every mathematical model. Secondly, there is no...
Persistent link: https://www.econbiz.de/10005087811
The study and comprehension of institutions – viewed as written and unwritten constraints (rules) initiated by people … economies and societies. The framework inspired by institutions to which people dedicated maximum energy and talent also …
Persistent link: https://www.econbiz.de/10005154481