entrant. In some ways Capitec's experience is exceptional. It surged ahead early attempts to bank the excluded from banks such … as Ubank (former Teba Bank) and the Mzansi initiative. Capitec's entry and growth in transactional banking sparked a … competitive response from incumbents, especially First National Bank and ABSA. The study illuminates how Capitec was able to …

Institutions are strikingly absent from most economic theory, certainly from growth theory.In standard theory it is …

transition countries. It employs a new set of the institutional variables published by the World Bank against the commonly used … transition index of the European Bank for Reconstruction and Development. Also, the paper tests the validity of some arguments …

The purpose of this paper is to develop a testable theory, the interaction thesis, capable of explaining why do we … public choice theory. In the first section of the paper I briefly define the four concepts upon which the interaction thesis …