We explore the relation between a country's patents and its economic and productivity growth. Consistent with patents reflecting important innovations, a one standard deviation increase in patent stock leads to a 1.58% (1.52%) elevation in GDP (TFP) growth. Patent stock has a stronger impact on...

This paper focuses on the relationship between corporate governance and corporate performance by initial public offerings (IPOs) of Kazakhstan state-owned enterprises (SOEs) in the transition economies of Central Asia. It argues that privatization (i.e., IPO) has different effects depending on...

The paper focuses on the arguments scholars have been giving in supporting or in rejecting the thesis of an 'autonomous transnational legal order'. Focusing on the example of the 'law merchant' (lex mercatoria), the paper aims at tracing the models of law and, more comprehensively, of the...