In the market economy the “actors” act according to rules of the game – the institutions – which impose certain restrictions on their behavior, making it more predictable for the other participants, reduce risk and uncertainty, and furthermore lowers transaction costs, etc. Institutions...

This study attempts to investigate the impact of institutions on the effectiveness of transition results achieved by emerging economies from Central and Eastern Europe. After more than two decades significant economic and social disparities have arisen between these nations. Consequently, the...

The beginning of the 1990’s illustrated a reference moment for the former Soviet countries, inclusively for Romania, in all the hypostases admitted by the challenge of transition to market economy. Most of nations explored the complex reconversion process, which was intended to be a gradual...

In this study, we describe the essence and role of the institutions in the modern economic systems, the main issues concerning the institutional convergence in relation to the EU integration, the institutional capital and the impact of the quality and effectiveness of the institutions on filling...

De facto judicial Independence (JI) seems to be highly and robustly significant for economic growth. But JI as formally written down in legal texts is a imperfect predictor for de facto JI. This paper thus tries to identify the variables, which determine de facto JI.. A distinction between...

Предметом рассмотрения данной статьи является рынок интеллектуального капитала. Представлены общая характеристика и соотношение таких понятий, как...

Following Fukuyama's (2001) postulation for future research in economic development, this paper examines the cultural hypothesis regarding national economic prosperity. Culture is found to affect economic performance through two channels; cultural traits that stimulate individual motivation, and...

Latecomer countries possess varying levels of policy and institutional capacity to make the right kinds of choices that promote development, which explain to a large extent the difficulties they face in transforming knowledge through learning activities to technological capabilities and...

Starting from the results of a national survey, a questionnaire on the values of Romanians was applied in April 2008 which was used for a comparative analysis of historical regions of Romania: Moldova, Bucharest, Dobrogea, Transilvania and Muntenia.

The paper works with assumptions, that the conclusions of mainstream approaches to the growth theory are problematical; there are alternative social-economic approaches to the theory of economic growth that offer more plausible explanations of the fundamental economic questions than the...