The paper aims to examine the role of institutions relative to economic policy and geography in explaining the differential level of development across countries over time. To that end, it attempts to construct a Development Quality Index (DQI) and an Institutional Quality Index (IQI) by using...

The paper uses nonparametric methodology to examine the role of institutions in understanding differential levels of development across countries. This technique estimates first order derivatives for every country allowing a deeper look into the impact of institutions on development. The...

Even before the onset of the 2008 global financial crisis and ongoing European debt crisis, much attention has been given to the re-emergence of the Asian giants, the People's Republic of China (PRC) and India. Both countries have attained unprecedented growth and economic development-PRC and...

During its independence, post-Communist Georgia has not been able to create an economic system that would serve as the basis for its sustainable economic development. Neither have the reforms conducted after the "Rose Revolution" met the expectations. A consumer economy, typical for poor...

The study analyzes the impacts of the financial and economic crisis on the potential growth in the European Union. It carries out quantitative analysis in order to reveal the medium and long-term trends. According to the analysis the impacts of the crisis are significantly different in the...