Economic institutions determine prospects for growth and development. This paper examines necessary conditions for an economy to support institutions that implement markets. Agents differ in land holdings, skill, and power. A competitive market assigns land to the skilled, not necessarily to the...

Systemic economic transition is a process of determined radical institutional change, a process of building new institutions required by a market economy. Nowadays, the experience of transition countries with the implementation of new institutions could be reviewed as a method of economic...

In this article we study the relation between the quality of contract enforcement and R&D investment across countries and industries. If companies invest successfully in R&D they are open for exploitation by their supplier if supply contracts are not enforceable. This hold-up problem can reduce...

This paper analyzes the duration of large economic declines and provides a theory of delayed recovery. First, we develop a formal political economy model that illustrates a simple mechanism of how weak constraints on the political executive can lead to longer declines in ethnically heterogeneous...

We jointly analyze the causal effects of geography, trade integration, and institutional quality on different income groups for developing and developed countries from 1983 to 2012. Favorable geographic conditions tend to discriminate strongly between income groups as low incomes benefit whereas...

This article analyses recent efforts to create a different institutional framework in Pará State, Brazilian Amazon to promote sustainable development. The region is economically peripheral to capitalism. Historically, Amazon river delta has been used as source of raw materials since XVII...

Territorial Cooperation (TC) has been possible because there is a trajectory of many years of work invested by the local actors, participants who have become the architects of TC through the city or region involved. Transcontinental cooperation as studied by the European Union TERCO project is...

Small and medium enterprises (SMEs) represent an important part of the Croatian economy. In 2011 SMEs achieved a share of 50.2% of gross domestic product (GDP), 65.5% of employment and 42% of Croatian exports. In the paper will be elaborated importance of the small and medium enterprise sector...

This work attempts to examine how the global financial crisis has affected the education sector and more specifically, universities. So our paper examines the universities public funding especially in Europe, the mobility of teaching staff, students etc. Also the impact of the financial crisis...