In the paper we analyze economic university research and education in transition countries. University system differs from industry in the nature of output that it produces. University system is engaged in production of public goods rather than private goods. The sector also suffers from the...

Societies in Western civilisation enforce their rules through formal secular institutions (SES), whereas less developed civilisations often rely on informal, often religious, institutions (RES). The present paper attempts to explain the determinants of societies’ choice between different...

The present study examines factor content of the CEE transition country agricultural trade. We examine the relative country abundance for labour, capital and land, and test the Heckscher-Ohlin-Vanek (HOV) hypothesis. Our empirical findings suggest that the factor content of agricultural exports...

Societies in Western civilisation enforce their rules through formal institutions such as secularism (SES), whereas in less developed civilisations often rely on informal institutions such as religion (RES). The present paper attempts to explain the determinants of societies’ choice between...

In light of the recent financial and economic crisis the present paper analyzes the determinants of loan default. We employ a unique firm-level panel data of 700 bank loans given to small and medium sized enterprises in Slovakia between 2000 and 2005 to investigate three loan default hypothesis....