Oliver E. Williamson is the 2009 co-recipient (with Elinor Ostrom) of the Nobel Memorial Prize in Economics, awarded ‘for his analysis of economic governance, especially the boundaries of the firm’.

The article discusses issues of reporting in view of theories of domestic and foreign institutionalists. Study of formation of reporting under conditions of institutional transformations is realised in close connection with production and integration processes, which are peculiar to this...

A.O. Hirschman and F. Perroux are some founders of development economics. Proximities are strong between these two main economists. They construct a specific corpus which differes from neoclassical, keynesian and marxist schools in terms of unbalanced sequences or stakeholder's power. On the...

Der Telekommunikationssektor ist diejenige Netzindustrie, die innerhalb der Europäischen Union dem wohl ambitioniertesten Reformprozeß unterworfen wurde. Deregulierung und Privatisierung sind die wesentlichen Bausteine, von denen dauerhaft niedrigere Preisniveaus, beschleunigter technischer...

This paper analyzes the influence of the shadow economy on corruption and vice versa. We hypothesize that corruption and shadow economy are substitutes in high income countries while they are complements in low income countries. The hypotheses are tested for a crosssection of 120 countries and a...

The outburst of the 2008 global economic crisis sparked a myriad of criticism on mainstream neoclassical economic theory, held responsible for not even have considered the possibility of the kind of collapse that the subprime mortgage meltdown unleashed. In this paper, it is argued that what...

On April 1, 2005, Denmark changed the way references prices, a main determinant of reimbursements for pharmaceutical purchases, are calculated. The previous reference prices, which were based on average EU prices, were substituted to minimum domestic prices. Novel to the literature, we estimate...

Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions. In our model the fraction of rights issued in the...

This paper reviews the current empirical literature on competition and market structure of Philippine industries. It shows that weak competition is one of the fundamental factors that explain limited growth, productivity, and employment in the economy. Philippine experience has shown that...

We examine how vertical separation affects the lobbying activities for the access charge of essential facilities. First, when investigating a model where the number of new entrants is fixed, we find that vertical separation either increases or decreases the access charge, and that this depends...