The aim of this study is to show regional differences as local effects of foreign investments in the dual economy of Hungary. We first introduce three knowledge functions (knowledge exploitation, knowledge exploration, and organizational control) of innovation systems. These functions are...

Employing distribution dynamics analysis, we examine the future spatial dynamics and convergence of the relative house-price-to-income ratio (RHPIR) across 171 major Chinese cities during the 2002-2016 period. We find that the convergence occurs at a slow pace and is heterogeneous across cities...

This paper incorporates the behavioral labor economic perspective into the traditional Harris-Todaro rural-urban migration model. We study cases in which one's utility is not only determined by his own wage, but also by wages of others. In our theoretical models, rural-urban migration is driven...

Perpetual property rights to land, structures, corporations and money allows investors to be overpaid to create inefficiencies and inequities in a way not measured by accountants and little noticed by economists. All intellectual property rights have limited life. Most assets depreciate over...

In recent years, housing booms have caused ghost town phenomena in many cities such as Dublin, Madrid, Dubai, etc. This paper derives a theoretical model to illustrate how activities of producers and rent seekers affect housing price booms in city centers and surrounding areas due to...

In this paper we consider that a representative of a not so affluent rural household has three options. He (she) may join in a microfinance system operating on the basis of individual liability credit contract, or on the basis of joint liability loan contract through forming self-help group or...

The purpose of this paper is to explore the notion of economic informality and its application in the rural context of developing and transitional economies, applying Keith Hart's (1987) notion of informality as a 'remedial concept'. Some remedy is needed to make sense of the many 'palpable...