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Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy- by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms affects the knowledge economy. The article also...
Persistent link: https://www.econbiz.de/10010212508
The United States is commonly characterized as a nation with a deep distrust of big government and a strong commitment to markets and competition. In contrast, the prevailing image of the European Union is that of a highly bureaucratized polity favoring interventionist economic governance over...
Persistent link: https://www.econbiz.de/10014092811
corruption, this paper examines whether formal sector productive (unproductive) entrepreneurial activity is associated with lower … corruption by asking whether corruption affects entrepreneurial outcomes primarily through its effects on the shadow economy. I … contend that if this is the case, then estimates of corruption should serve as a good instrument for shadow economy size in …
Persistent link: https://www.econbiz.de/10013035948
This paper draws attention to the US clusters and frames them in the context of regionalisation. It does this in three steps. First, it highlights key moments in US history in which regionalisation emerged as a central albeit unsuccessful policy strategy. Second, it considers how the strategic...
Persistent link: https://www.econbiz.de/10010670220
This paper argues that a hierarchy of ideals exists in market interactions that sets the benchmark on the norm of fairness associated with these interactions, thus affecting pricing decisions associated with market exchange. As norms emerge, an ideal determines the criteria of optimal behavior...
Persistent link: https://www.econbiz.de/10010202248
Market economies and command economies have long been differentiated by the presence of alternative choice in the form of diversity. Yet most mainstream economic theory is premised on the existence of uniformity. This paper develops the implications of this contradiction for the theory of...
Persistent link: https://www.econbiz.de/10009583167
This paper investigates the relationship between income inequality and political party alternation at the US state level using panel data from 1971 to 2015. We hypothesize that income inequality leads to more regime instability in the form of alternation of governors’ parties. We also test the...
Persistent link: https://www.econbiz.de/10013221068
Using data on U.S. state and federal taxes and transfers over a quarter century, we estimate a regression model that yields the marginal effect of any shift of market income share from one quintile to another on the entire post tax, post-transfer income distribution. We identify exogenous income...
Persistent link: https://www.econbiz.de/10014544770
Some scholars have argued that the Framers of the U.S. Constitution did not have a common set of views on economics, or that the Constitution, except perhaps in isolated clauses, does not reflect any specific economic views. The principal Framers did, in fact, share a basic set of economic...
Persistent link: https://www.econbiz.de/10014160829
This article takes the first step in attempting to create a more accurate timeline of deindustrialization, whichis generally understood as a process that begins and proceeds through the 1970s. Iarguethat thisnarrative of deindustrialization, which is very much tied to 1970s events, should be...
Persistent link: https://www.econbiz.de/10013431095