The two sides of envy, destructive and competitive, give rise to qualitatively different equilibria, depending on economic, institutional, and cultural environment. If inequality is high, property rights are poorly protected, and social comparisons are strong, the society is likely to settle in...

We argue that membership in International Organizations (IOs) is an important determinant of FDI inflows. To the extent that membership restricts a country from pursuing policies that are harmful to investors, it can signal low political risk. Using data over the 1971-2005 period, we find that...

Using a unique dataset for 14 transition economies, we propose a new measure for individual evaluations of transitional reforms, which we use to study, for the first time, the evolution of support for economic and political reforms from 1991 to 2004. We show that support for economic changes has...

We analyze the extent of the integrated state control over the privatized companies in the Czech Republic during the decade of 1995-2005. During this period, the integrated potential of the state to control companies had a pyramid-like form. Even though the pyramid control was not fully...

Using a unique dataset, we propose a new measure of public evaluation of transitional reforms and study, for the first time, the evolution of support for economic and political reforms in 14 transition economies over 1991-2004. We show that support for economic changes has been increasing over...

This paper aims to fill one knowledge gap on understanding the issue of capital formation in new co-operatives in developing countries. By doing so, it presents the main findings of capital formation and investment in a small sample of horticulture shareholding co-operatives in rural China,...

The growth theory of new political economics defines some factors that are necessary for economic growth among which political stability. There are distinguished two types of political instability - elite and non-elite - in topical literature. While non-elite political instability concerns about...

In this paper we try to elucidate the proper manner to evaluate economic theories and systems within the present financial crisis context. The main lines of argumentation are as follows: appeals to facts cannot settle the liberalism/etatism debate; the deadlock has an important...

The paper describes dynamics of ownership concentration in Russian manufacturing, and factors of the dynamics against the background of economic growth of 2000s. The first signs of stock ownership de-concentration in some companies during 2005–2009 were revealed. Empirical analysis of...

More than twenty years have now passed since the fall of the Berlin wall. Transition from planned economy towards market economy was supposed to bring success in both democracy and economic development. However, many transition economies have not become richer yet, nor more democratic, and...