This article explores the theoretical relationship between economic growth and transaction costs, including the historical background of the discussion. Causes and implications of the rapid enlargement of the Bulgarian transaction sector in the transition period are discussed in respect to...

This article investigates the analytical line of reasoning in D. North’s, J. Wallis’ and B. Weingast’s research project “Violence and Social Orders”, which unifies in an institutional explanation scheme the control over violence in human societies, the equilibrium of interests among...

In this article we propose a modification (extension) of the model for cost accounting in Bulgaria which will enable the gathering of information for the art and size of the transaction costs in an individual firm or organization. On the ground of prevailing classification schemata in economic...

Article on the causes, dynamics of development and institutional forms of economic cycles. We study the institutional patterns associated with the formation, development and completion of economic cycles from the standpoint of an exogenous approach. The author proves the thesis about the...

The theme of economic development has always had an important role at the center of macroeconomic research, meanwhile microeconomic environment; uncertainty has its due prominence. However, few authors develop these issues jointly, although the uncertainty holds an important role in decision...

This paper presents a somewhat novel theory of innovation in the economy wide setting. The starting point for this theory is the creative destruction process at the firm and industry level. However, an extension to an economy wide setting requires the explicit theorization of the role of the...

This paper aims to consider theoretically and in a preliminary way the most important features and problems concerning the concept of Developmental State, discussing the two issues that would be fundamental for its proper comprehension: (1) the issue about the objectives which characterize a...

Declining general trust has become a serious social issue in China in recent years. This paper attempts to understand and analyze this social phenomenon from a social interaction perspective. Based on a repeated prisoners´ dilemma game on networks, it finds that the evolution of general trust...

The overall objective of this paper is to contribute conceptually to the questions why and how regions transform and it joins the debate on economic evolution and institutional change. The paper addresses the challenge of how to conceptualise the interdependencies of institutions of different...

The objective of the PICK-ME (Policy Incentives for Creation of Knowledge - Methods and Evidence) research project is to provide theoretical and empirical perspectives on innovation which give a greater role to the demand-side aspect of innovation. The main question is how can policy make...