Employing a conventional production function, this study advances theoretical and empirical research on the role of economic reforms and human capital on the post-reform economic growth. We construct two unique indexes - a composite economic reform index and a human capital index - to perform a...

Small well-motivated groups, including state officials, public and community activists, politicians, etc., proved their capacity to impose burden on the economy. The power to do so in modern Market Democracies could be reached without “unsheathing the sword”. Old fashioned redistribution...

This paper examines whether corruption can be an efficiency enhancing adaptation to poor institutional environments. Prior research on this question has not taken into account the heterogeneity of corruption or the possibility that petty bureaucratic corruption in the form of bribery may grease...

This paper analyzes the existing relationship between ethnic fractionalization, corruption and the growth rate of a country. We provide a simple theoretical model. We show that a nonlinear relationship between fractionalization and corruption exists: corruption is high in homogeneous or very...

The purpose of this paper is to test whether institutional governance and its performance is a main driving force to achieve a positive relationship between natural resources and economic growth in the long run. The main objective is to ascertain what kind of institutional governance would be...

This article reviews the use of the concept of political instability in economic research, the importance of which has been growing in recent years due to its potentially profound economic consequences. The article explores this concept by working through the definitions, dimensions, and methods...