In this paper, the relationship between VAT base-expansion and intergovernmental financial relations is discussed from the perspective of the dual processes of industrialisation and urbanisation.First, this article theoretically analyses the VAT base-expansion and its real world implications and...

The impact of Fourth Industrial Revolution (4IR) technologies on enterprises’ internationalization strategies is ambiguous. Although digital technologies lower information and transaction costs and facilitate international coordination of overseas activities, automation technologies can push...

In this paper we study the social, demographic and economic origins of social security. The data for the U.S. and for a cross section of countries make it clear that urbanization and industrialization are strongly associated with the rise of social insurance. We describe a model economy in which...

New industry finance has the following five characteristics. First, information asymmetry problem appears relatively stronger in the new industry finance compared to the normal industry finance. Asymmetry of information between trading partners means that the amount of information is on...

Motivated by the momentous rise in ICT diffusion, the implementation of the African Continental Free Trade Area agreement, and the expected rebound of foreign direct investment inflow to Africa from 2022, this study examines the joint effects of industrialisation and ICT diffusion on resource...

Motivated by the momentous rise in the new economy, the implementation of the African Continental Free Trade Area agreement, and the expected rebound of foreign direct investment to Africa from 2022, this study examines the joint effects of industrialisation and digital infrastructure on...

Motivated by the momentous rise in the new economy, the implementation of the African Continental Free Trade Area agreement, and the expected rebound of foreign direct investment to Africa from 2022, this study examines the joint effects of industrialisation and digital infrastructure on...

Motivated by the momentous rise in the new economy, the implementation of the African Continental Free Trade Area agreement, and the expected rebound of foreign direct investment to Africa from 2022, this study examines the joint effects of industrialisation and digital infrastructure on...

We construct a simple model where political elites may block technological and institutional development, because of a "political replacement effect." Innovations often erode elites' incumbency advantage, increasing the likelihood that they will be replaced. Fearing replacement, political elites...