The paper suggests a partial solution to the disjunction between the institutional environment and the institutions of governance by considering the budget constraint. This approach is put in the perspective of the comparative analysis of economic organizations as discrete structural...

The paper deals with the role that universities can have in promoting innovation in general and at local and regional level in particular. In doing this, the nature of universities and the quality of their relations to industry and governments is of paramount importance. During the last three...

The field of comparative economic systems has been recently enriched by the arrival of the new comparative economics. This approach is in the line of the law and finance tradition and presents an important contribution under different perspectives. In the paper I present the most important...

The European sovereign debt crisis has demonstrated the need for a rethinking of the European integration project. The strong variety between member countries prevented Eurozone to become a fiscal and political union and the asymmetric architecture of EMU revealed different weaknesses. The...

Economic theory has recently begun to consider the economic impact of narratives. Narrative economics can also be extended to the analysis of the economic-political effect of narratives in the context of the European core-periphery divide, which intensified after the European sovereign-debt...

The paper proposes an institutional-systemic analysis of small and medium-size enterprises (SME) and of local productive systems in Italy and Hungary. The analysis is based on four fundamental variables: the environment, the economic system, policies, and subjective factors. After defining the...