There is a dearth of theoretical literature defining institutions and identifying the channels through which institutions influence economic welfare. Moreover, empirical studies done on the same topic also showed a positive and significant impact of institutions on macroeconomic performance....

This paper analyzes the long-run dynamics between quality of institutions measured by recently developed Index of institutionalized social technologies, and Economic performance in the sample of 84 countries covering the period 2002-2006. Panel cointegration tests and FM OLS (Fully Modified OLS)...

We investigate the extent to which a country's degree of genetic variation contributes to the observed variation in financial market activity across countries. We postulate that genetic variation can affect financial markets through its impact on aggregate investment behavior, innovation in the...

This study examines how institutional indicators influence economic growth in a theoretical framework proposed by North (1981). Thirty-one indicators each covering 84 countries over a span of 5 years have been used to extract factors based on principal component analysis. Factors based on these...

This paper examines the effects of foreign direct investment (FDI) on South Asian economies' output growth, utilizing recent panel cointegration testing and estimation techniques. Annual panel data on eight SAARC (South Asian Association for Regional Cooperation) member countries' macroeconomic...

The question of whether China has reached the Lewis turning point (LTP) has recently been intensively debated in the literature. Partly, this is due to the profound policy implication of the turning point posited by Lewis (1954) and Ranis and Fei (1961), while it is also closely related to the...

Ultra-broadband diffusion, information technology (IT) advances and the market mass decreasing costs are determining a growing adoption of processing and storage resources at the edge of current telecom networks that, ultimately, are the end-users. The number of devices connected to the network...

This paper revisits the so-called ‘ICT-productivity paradox' from a long-run perspective by using annual Australian data for about five decades. It provides estimates of long-run and short-run elasticities of labour productivity with respect to ICT capital deepening, explores the nature of...

We analyze the role of electricity storage for technological innovations in electricity generation. We propose a directed technological change model of the electricity sector, where innovative firms develop better electricity storage solutions, which affect not only the relative competitiveness...

This study is highly influenced by different seasonal climatic variables such as high fluctuations of day and night temperature, changing rainfall pattern, high carbon dioxide concentration, humidity, day-length etc. It is also constrained by different climatic disasters such as floods,...