We empirically investigate how macroeconomic experiences shape individual attitudes towards risk and time in a developing country context with rapid and volatile economic change. To do so, we link a large longitudinal data set from Indonesia, containing repeat measurements of risk aversion and...

This paper develops a model of growth in an economy where the capital stock is rationed across labor inputs, as in the dual, or segmented, labor market literature on developing economies. In this economy, the increased use of labor in the formal sectors can sustain high marginal and average...

Small and medium-sized enterprises (SMEs) are widespread all around the world and represent more than 90% of the total enterprises on most of the places. These enterprises play a key role for the economic development, through the new employment opportunities and the producing of goods and...

This article deals with interesting oscillation pattern in electricity prices during the period of EU electric power supply liberalization process, its transition from infrastructure to market activity and during last economic crisis, when at first prices declined significantly, to be raised...

The paper criticizes the conception of value on behalf of the conventional economic theory, blaming it for the current economic school’s incapacity to explain the actual economic crisis and to offer an adequate perspective to settle a solution. It proposes an explanation based on the tendency...

The papers in this special issue of the Annals were first presented at the Transportation and Economic Development Conference held in Little Rock, Arkansas in March of 2006. The conference was attended by officials from U.S. Department of Transportation agencies, academic scholars and industry...

A feature of the continuing integration of the world economy is the globalization of production and the consequent rise of trade in parts and components. Products are more internationalized and less identified with any particular country. Non-trivial shares of the value-added of many exports...

Recent innovations in digital financial technologies (FinTech) have called into question the role of FinTech in financial development. This study examines FinTech's direct and conditional effects on financial development using data from emerging and developing economies. Three measures of...

Some recent empirical studies deny any direct performance effects of measures of geography and conclude that institutions trump all other potential determinants of development. For given effects of institutional quality, our empirical results indicate quantitatively important direct negative...

This study was carried out to investigate the relationship between refugees and development in host economies from a macroeconomic point of view. The results obtained show that this relationship is non-linear. The empirical results demonstrate that refugees have a positive and significant direct...