This paper demonstrates that preference structure may play a pivotal role in generating indeterminacy in the stylized model of endogenous growth. By examining two-sector models of endogenous growth with human capital formation, we show that if the utility function of the representative family is...

This paper provides an econometric estimation of the influence of individual social-economic, natural, and technological determinants of the credit provision for the agriculture in the case of the Czech Republic. The regression model is based on the microeconomic model of the maximization of the...

This note discusses a pitfall of using the generalized impulse response function (GIRF) in vector autoregressive (VAR) models (Pesaran and Shin, 1998). The GIRF is general because it is invariant to the ordering of the variables in the VAR. The GIRF, in fact, is extreme because it yields a set...

Since the second half of the past century, increasingly flexible organizational forms are appearing among firms. However, while hierarchies are easily described, too few mathematical tools are available for flexible organizations. In this article, two Lyapunov functions are proposed in order to...

This paper aims to study the interaction between the control of corruption, investment and economic growth in the MENA region. Our empirical essay attempts to clarify the direct and indirect control of corruption on economic growth through investment in the period 1984-2012 in the MENA region...

We introduce a topic in the intersection of symbolic mathematics and computation, concerning topics in multivariable Optimization and Dynamic Analysis. Our computational approach gives emphasis to mathematical methodology and aims at both symbolic and numerical results as implemented by a...

The basic premise of this paper is that, while we have moved closer to achieving some of the MDGs by 2015 hardly any progress has been made towards the better utilization of existing human resources especially for young men and women entering the work force (Target 1B). The papers main argument...

This study investigates inequality of opportunity in educational achievements in Turkey over time. For this purpose we use test scores of PISA in mathematics, science and reading achievement of 15-year-olds over the period 2003-2012. Since the different waves of the samples cover only a fraction...

The history of social innovation in country, challenges being addressed by social innovation. the key actors, who is promoting social innovation. A few of the key projects that illustrate social innovation.

The empirical literature has long established that U.S. interest rates are an important driver of international portfolio flows, with lower rates “pushing” capital to emerging markets. On the basis of this literature, it is often argued that the Federal Reserve’s imminent policy tightening...