Theoretical and empirical evidence on the relationship between institutions and economic prosperity remains ambiguous, even though it has been part of scholarly discourse for decades. The present study adds to this discussion by introducing a bundled approach for measuring institutions. This...

The quality of institutions occupies a central place in the set of non-economic factors influencing macroeconomic dynamics and the development of financial markets. This quality is largely shaped by objective factors that accompany the historical process. Therefore, this study focuses on the...

1. Declining Population Growth and the Serendipity Theorem -- 2. Consumption of Leisure Goods, Leisure Time, and Inheritance of Tastes for Leisure in an Overlapping Generations Model -- 3. Overlapping Generations Model with Relative Preference for Children's Human Capital -- 4. The Impact of...

I. Concepts, Types, Causes, and Effects -- Inertia: resistance and endurance -- An Introduction to Institutional Inertia: Concept, Types and Causes -- The Origin of Development, Critical Juncture, and Institutional Inertia -- Context, Institutional Inertia and Development -- Inertia in Informal...