It is often stated that globalization makes a smaller world by institutional conver-gence. Economic orders become alike across the world. This article addresses institutional change triggered by the global financial crisis of 2008/2009 and challenges this general conviction of worldwide...

This chapter discusses the application of the national system approach in the catching up economies. It criticizes the assumption that there exists an optimal one-sizefits-all national innovation system model. The example is the Estonia-Finland case, in which Finland's national innovation system...

South Korea's aid to North Korea is deviated from the international trend in development aid. As a stylized fact, we find that South Korea's policy keeping economic relationship with North Korea was inconsistent and ineffective during the last decade. Since South Korea played a major role in...

The spatial aspect of political-economic transformation in the former Soviet Union - including the relations between new independent states and the center-region relations within national borders - has a heavy impact on the quality of institutions comprising the economic order. The paper...

The paper focuses on institutional change and institution building as integral parts of economic transition in China. China's success, particularly compared with other advanced transition economies, implies a puzzling observation: China did not apply theoretically-derived policy recommendations....

After eight years of the United Nations (UN) administration, Kosovo again is returned to the international centre of attention - this time about her future political status. The document presented by the UN Special Envoy for Kosovo, Martti Ahtisaari, proposed an ambiguous status settlement that...

The quest for an appropriate development and transition strategy in less developed countries (LDCs) and post-socialist countries (PSCs) has been studied for a long time, and it has been subject to numerous controversies among academics and development practitioners alike. Disputes have existed...

The German economic policy is characterized by the conception of Ordnungspolitik, which may be translated as economic order policy. The same is true for the Saxon strategy in the international competition for mobile production factors, especially foreign direct investments. Saxony is anxious to...

Despite the fact, that in 1949 the Federal Republic of Germany had decided to base its economic system on the concept of Social Market Economy, the transport sector in the 1950s and 1960s was characterized by a strict regulation, prohibiting competition in most transport markets. One fundamental...

This paper discusses a problem of the connexion between economic transformation and the present policy on education in the Ukraine and shows that without a systematic reconstruction of the educational system the transformation into a freemarket economy and a liberal political system will not...