Development banks are there for good times as well as bad times. They promote structural changes in economies, addressing longer-term challenges. They complement financial systems, helping to improve the functioning of banking and financial markets and bolstering economic resilience. They...

Economics is not only a means of interpreting the past, but it must become an instrument for shaping the future, too. It should show inevitable future economic processes, with their links to culture, technology, and environment. With theoretical knowledge of this area, strategies of...

This paper focuses on how political regimes affect financial developments in Africa and the role of dominant religion, income levels and colonial legacies in this regard. The findings indicate that authoritarian regimes have a higher propensity to effect policies that favour the development of...

Este trabajo contribuye a la discusión orientada a superar las insuficiencias de la literatura sobre el Estado y su accionar en la reproducción y el desarrollo económico, a la luz de la emergencia de una nueva fase de desarrollo del capitalismo, o capitalismo del conocimiento, y de la actual...

An important dimension of the “modernization hypothesis” is the claim that there is a long-run positive relation between socio-economic development and political democracy. This research strand of the modernization hypothesis, however, has been challenged in a series of papers by Daron...

Conventional arguments suggest that republics ought to grow faster than monarchies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 1820 to 2000 to estimate these differences. Results show no significant growth differences between the two...

This paper explores the links between the level of per capita income, growth and democracy, a central issue in the literature regarding economic policy. The first three sections focus on the socalled modernization hypothesis from both a theoretical and an empirical perspective. According to this...

E tanulmány egy olyan modellt mutat be, amelynek segítségével elemezni lehet a különböző politikai rendszerek gazdasági teljesítményét. Egy "oligarchikus" társadalom - amelyben a politikai hatalom a főbb termelők kezében van - védi a tulajdonjogokat, azonban jelentős belépési...