The "iteration argument" presented in Schlicht (1996) shows that the allocation of property rights may generate inefficiencies, contrary to what the "Coase Theorem", as commonly understood, asserts. The argument may be summarized by saying that markets (and bargaining) cease to function properly...

This paper provides empirical evidence supporting the view that constitutions may influence the organization of economic activities. Dealing with the issue of the institutional determinants of entrepreneurship, it shows that some of the provisions contained in national constitutions are...

This paper models and estimates total factor productivity (TFP) growth parametrically. The model is a generalization of the traditional production model where technology is represented by a time trend. TFP growth is decomposed into unobservable technical change, scale economies and observable...

The on-going ‘Make in India’ campaign aims at manufacturing revival. Its characteristics resemble East Asian industrial reform and growth policies based on the flying-geese model which highlights ‘step-by-step’ changes in a country’s specialisation pattern and global competitiveness...

The purpose of this paper is to investigate the impact of government consumption expenditure as a share of GDP on economic growth in developing countries. The paper uses threshold panel model to examine nonlinear relationship between the government consumption expenditure share and economic...

Regional Trade Agreements (RTAs) have been advocated as one way of securing trade liberalization by the IMF and World Bank. The study uses the gravity model of bilateral trade flows to empirically investigate the effects of RTAs on intra-regional trade on a set of 46 Sub-Saharan African (SSA)...

There has been considerable research on the effect of democracy on trade openness since the 1980s when development strategies toward free trade and democracy were rapidly adopted in developing countries. Most studies have focused on Asian, Latin American, and former soviet bloc countries and few...

European metals end engineering industry has managed to keep its position in global competition. Germany has become the leading manufacturer of machines and equipment. Metals and engineering products are used in nearly all industries and businesses, and especially due to emerging economy growth...

We replicate Ashraf and Galor (2013) and find that its conclusions concerning the association between human genetic diversity and economic development depend substantially on coding errors and sample selection. We correct the coding errors and add or update data on genetic diversity and...

The People's Republic of China's (PRC) remarkable growth performance over the last 3 decades has been associated to very robust export growth, so much so that many refer to it as a clear example of export-led growth (ELG). Using the concept of the balance-of-payments equilibrium (BOPE) growth...