This paper presents a new model of political competition where candidates belong to factions. Before elections, factions compete to direct local public goods to their local constituencies. Voters view the public goods as a credible signal that their local candidate is in the right (i.e.,...

This paper analyzes the relationship between the price producer index and the price consumer index across country members of the Free Trade Agreement (NAFTA) area, during the period 1957:01 to 2011:04. In so doing, we test for the existence of causality and unit root in the series analyzed in...

This paper analyzes some key ideas regarding regional innovation systems and market failures. This analysis highlights the importance of science, technology and innovation policies at the regional level. It is assumed that innovation processes are complex and nonlinear that drives and sustains...

This paper is an introduction to the discussion of the role played by knowledgebased large and small firms in the innovation process. It takes into account the theoretical background within the Schumpeterian-Penrosian tradition. The paper reviews a model where firm size has important...