Interactions between economic development and financial development are studied by looking at the roles of financial institutions in selecting R&D projects (including for both imitation and innovation). Financial development is regarded as the evolution of the financing regimes. The...

Interactions between economic development and financial development are studied by looking at the roles of financial institutions in selecting R&D projects (including for both imitation and innovation). Financial development is regarded as the evolution of the financing regimes. The...

This paper reviews India's growth performance since independence. One of the innovations in this paper is to take explicit account of rainfall variations that play a very important role in the Indian economy. This allows us to determine whether the Indian economy has become less dependent on the...

Neither economics nor political science can explain the process of modern social development. The fact that developed societies always have developed economies and developed polities suggests that the connection between economics and politics must be a fundamental part of the development...

As it has been suggested EU trade policy contribution to economic growth of MSs should be considered at best moderate if not negligible – on one hand due to still extensively applied extra-tariff measures such as anti-dumping proceedings and safety and health procedures, on the other hand...

The paper introduces the concept of social divergence defined as the social barriers to communication and exchange between individuals and groups of individuals within a society. Social divergence is determined by the characteristics of a society including the distribution of income,...

This working paper offers tools for rethinking the role of ?good governance? in development strategies. What is ?good governance?? Transparency of public action, control of corruption, free operation of markets, democracy and the rule of law. Along with macroeconomic stabilisation, ?good...

This paper develops a proxy measure of the inequality of influence on the basis of survey evidence from 2002 Business Environment and Enterprise Performance Survey (BEEPS) conducted among 6,500 firms in 27 transition countries. We refer to the resulting inequality as crony bias in the political...

Based on the Business Environment and Enterprise Performance Survey (BEEPS) of firms in transition countries, which unbundles corruption to measure different types of corrupt transactions and provide detailed information on the characteristics and performance of firms, we find that: i)...

Abstract With the economic crisis in East Asia and a continuing boom in the US, American triumphialism is in the air. The latter is perhaps not unexpected and probably does no harm. But what is more questionable is the view held in the highest circles in the US Government and international...