The way the results of the human activity are measured has been and still is a major theoretical and practical concern of the economic world. In this article we are particularly interested in analyzing the circumstances that provide a real image for the economic results at macroeconomic level....

The world is searching for a new socioeconomic development paradigm, which is sometimes referred to as the “new reality.” Judging by the previous structural crises (in the 1930s and 1970s), this search takes about a decade characterized by volatile economic trends, political crises, and...

Various characterisations exist of the model of post-social capitalism. While most typologies underscore the prominent role of the state in post-socialist capitalism compared to Western economies, the literature is less clear about what exactly this role consists of. For the case of East Central...

Successful governance implies that organizations, networks, or practices create public or club goods by constraining behavior, sharing information, or providing resources. While effective governance may require a functional state, compelling studies have theorized informal governance without...

We investigate whether and how firm-level political uncertainty affects firms' bank loan contracting. We find that firms facing higher firm-level political uncertainty are charged higher bank loan costs. This impact is amplified for firms with higher degrees of information asymmetry and firms...

Hayek's The Road to Serfdom has been interpreted as a general warning against state intervention in the economy. We review this argument in conjunction with Hayek's later work and discern an institutional thesis about which forms of state intervention and economic institutions could threaten...

Indian country in the United States is incredibly poor. Indian nations desperately need to develop reservation economic activities. Most tribal governments, however, are primarily focused on developing tribally owned businesses. This article argues for Indian peoples and governments to revive...