The relationship between female empowerment and economic development is one of the most complex examples of reverse causality, yet multiple scholars acknowledge that female empowerment promotes economic progress. One of the crucial aspects of female empowerment is female entrepreneurship;...

We investigate the claim made by proponents of the big-bang strategy that the establishment of property rights in an economy in transition creates its own demand for the enforcement of laws to protect those rights. Our model contains a government engaging in activities to accomplish objectives...

There has been relatively little investigation of the relationship between constitutional transformations and the economic transition in post-communist countries. We develop a simple signaling model in which constitutionalism - a commitment to limit political power and provide judicial defense...

Following Fukuyama's (2001) postulation for future research in economic development, this paper examines the cultural hypothesis regarding national economic prosperity. Culture is found to affect economic performance through two channels; cultural traits that stimulate individual motivation, and...

Cluster policy has become a method of choice for policymakers in many countries. Promoting strong localized industries is an appealing perspective for practitioners, as it can be seen as a way to anchor economic activity in regions in an era of globalization. If cluster policy is successful, it...

During the period 2000 to 2008, Africa’s collective GDP grew at an annual rate of 4.9 percent. Even though previous studies argue that strengthened and improved institutional quality is key determinant for attracting foreign direct investment to Africa, we find no evidence to that effect....

During the period 2000 to 2008, Africa’s collective GDP grew at an annual rate of 4.9 percent. Even though previous studies argue that strengthened and improved institutional quality is key determinant for attracting foreign direct investment to Africa, we find no evidence to that effect....

This paper analyses real income convergence in central, eastern and south-eastern Europe (CESEE) to the most advanced EU economies between 2000 and 2016. The relevance of this topic stems both from the far-reaching implications of real income convergence for economic welfare and the importance...

Economic growth in the East Asian economies was remarkable during the latter part of the 20th century, starting with Japan just after World War II, followed by the East Asian Tigers and "tiger cubs" after that and, most recently, the People's Republic of China and India. The high, sustained...

The role of institutions in economic growth has recently begun to receive greater attention in academic circles. Although the impact of institutions has been acknowledged by most, definitive conclusions still remain a question, particularly given the problem of endogeneity. We use panel least...