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Both institutional quality and institutional stability have been argued to stimulate economic growth. But to improve institutional quality, a country must endure a period of institutional change, which implies at least a little and possibly a lot of institutional instability. We investigate the...
Persistent link: https://www.econbiz.de/10013158839
Neoclassical theoretical approaches dominate modern health economics. However, the peculiarities of healthcare provision are so unusual that neoclassical theory is especially unsuited to the area. Even mainstream health economists often abandon Paretian welfare considerations to focus on needs...
Persistent link: https://www.econbiz.de/10012716388
This article revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann's idiosyncratic (i.e., eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1)...
Persistent link: https://www.econbiz.de/10012716493
The paper revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann's idiosyncratic (read: eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1)...
Persistent link: https://www.econbiz.de/10014051184
in intellectual property rights on the patenting and innovation strategies of Chinese and Western firms operating in … property rights and legal institutions that foster R&D and innovation, and when Western firms gain longer operational … informal institutional environments. It also provides important implications for policy and innovation strategies for …
Persistent link: https://www.econbiz.de/10012902031
The standard neoclassical approach to economic theorising excludes, by definition, economic emergence and the related phenomenon of entrepreneurship. We explore how the most economic of human behaviours, entrepreneurship, came to be largely excluded from mainstream economic theory. In contrast,...
Persistent link: https://www.econbiz.de/10010576973
Political activism positively affects firm innovation. Firms that support more politicians, politicians on … innovation. The results are consistent with the hypothesis that political activism is valuable because it helps reduce political … uncertainty, which, in turn, fosters firm innovation. Also consistent with this hypothesis, we show that politically active firms …
Persistent link: https://www.econbiz.de/10010501442
about future performance and standard measures of corporate innovation. We begin by developing a career concern model where … probability of failure, are more likely to pursue innovation, and that this effect is larger in more competitive industries. We …
Persistent link: https://www.econbiz.de/10013069826
transition to the post-industrial paradigm, and the economy of "knowledge", the national innovation system (NIS) plays a leading … innovation system significantly lags behind other countries and calls for modernisation based on the modern regulatory tools …, policies, and world's leading trends. The direct import of institutions of foreign innovation systems demonstrates its limited …
Persistent link: https://www.econbiz.de/10012800107