Growth of the Korean economy has been sluggish, and this situation is more pronounced in the service sector. We argue that capital misallocation, especially in the service sector, could contribute to this slowdown. Utilizing firm and sectoral level data, first we assess the rising dispersion of...

One decade ago the formerly socialist, east-European economies collapsed. They are facing the diffcult and complex task to transform and to modernize their economic structures. In the beginning, many economists believed that the process of transition could be done fast and easily....

Written in a way that facilitates understanding of sometimes difficult concepts and laws, this book discusses the demographic transition and the escape from the Malthusian trap. It also covers the environmental Kuznets curve hypothesis that examines the relation between polluting outputs and...