This paper formulates a simple mathematical framework for the selection of an optimum "relative unanimity” collective decision rule. The approach is first to identify the benefits of moving from a rule of simple majority towards a rule of full unanimity. Then, the costs of moving from simple...

This research is devoted to political and economic aspects of closed democracy institutions afoot. The book describes basic approaches to contrastive analysis in this field, typical problems that cause deviations in democratic institutional system’s development and major conditions and ways to...

This research is devoted to political and economic aspects of closed democracy institutions afoot. The book describes basic approaches to contrastive analysis in this field, typical problems that cause deviations in democratic institutional system’s development and major conditions and ways to...

This paper is focused on the economics of financing banking supervision. Two questions are investigated: What are the most common financing practices? Can we explain differences in current financing practices by country specific factors, using a path dependence approach? Given a sample of 90...

This paper provides empirical evidence that the quality of regulatory governance governance practices adopted by financial system regulators and supervisors matters for financial system soundness. The paper constructs indices of financial system soundness and regulatory governance, based on...

This paper examines the way political factors impact corporate law legislation. It does so by analyzing the political history that accompanied the recent enactment of a new Israeli corporate law, and by placing this history in a firm framework of political theory. The paper's findings illustrate...

This paper studies the interaction between different actors in the policy-making process of fiscal transfer reform in Colombia. To analyse this reform, we use the “life cycle of reform” framework. In that context, we follow critical phases in the reform process: planning, dialogue and...