The North Korean economy has been a statistical black hole for decades but is undergoing substantial transformations. Rapid post-war industrialisation was not sustained beyond the mid-1960s and South Korea’s economy far outpaced North Korea’s during the next three decades, during which trend...

In unequal societies, the rich may benefit from shaping economic institutions in their favor. This paper analyzes the dynamics of institutional subversion by focusing on the public protection of property rights. If this institution functions imperfectly, agents have incentives to invest in...

Two hypotheses about the determinants of Russian intergovernmental grants are tested empirically. According to first hypothesis, federal transfers to regions correlate with recent voting behavior of regional electorates. Second hypothesis states that transfers are higher in regions with...

The Russian labor market was characterized with three main features: a weak sensitivity of employment levels to changing conditions, a high variability of wage, large inter-firm flows of labor resources. This paper recommends a model of a collective firm explaining these phenomena. The main...