This working paper aims to stress the role of the institutional capital and its components, as primary factors, in economic results at the national level, using adequate measurement indicators and econometric models. For this purpose, we analysed the following aspects: the definition of...

Empirical studies analyzing the determinants of U.S. presidential popularity have delivered quite inconclusive results concerning the role of economic variables by assuming linear relationships. We employ penalized spline smoothing in the context of semi-parametric additive mixed models and...

Considering the deep and long-lasting impact of severe recessions, such as the 2008-09 financial crisis, it is important that measures be taken to minimise the risk of such event. But in doing so the benefits need to be balanced against the potential costs in terms of lower average growth that...

Aim/purpose - External aid allocation by the donors in recent years has been fraught with instability and volatility. This has a negative consequence on the recipient economies particularly those that are highly aid-dependent. A good solution to the problem requires much understanding of factors...