What is entrepreneurship? Who is the entrepreneur? Why, when and how does entrepreneurship originate and what are its effects across time and border? The lack of a satisfactory definition and conceptual framework of entrepreneurship has undermined the legitimacy of entrepreneurship as a unique...

Eleven percent of the Malawian population is HIV infected. Eighteen percent of sexual encounters are casual. A condom is used one quarter of the time. A choice-theoretic general equilibrium search model is constructed to analyze the Malawian epidemic. In the developed framework, people select...

This paper shows an application of the IMF Financial Programming Model to understand the relevance of the IMF stabilization program in Bangladesh started in 2002. The model has been revitalized in an innovative way to predict an equilibrium position of the economy, which ensures a viable BOP....

Changes in social structures occurring during the process of economic growth can be considered direct consequences of this process, while other changes are caused by factors such as technological progress, that affect simultaneously social structures and growth. This chapter focuses on that part...

We study a general equilibrium model in which entrepreneurs finance investment with optimal financial contracts. Because of enforceability problems, contracts are constrained efficient. We show that limited enforceability amplifies the impact of technological innovations on aggregate output....

Schumpeter’s notion of creative destruction assumes that volatile growth leads to a more efficient reallocation of resources and the adoption of new technologies. However, this can only occur if such productivity-enhancing opportunities are available within society. This availability is...

Based on the partial distribution, this paper establishes the golden growth model in economic process. The model describes the optimal relation between the economic investment and the economic growth, and could be taken as a basis to distinguish that the economic process is higher in developing...

We study a general equilibrium model in which entrepreneurs finance investment with optimal financial contracts. Because of enforceability problems, contracts are constrained efficient. We show that limited enforceability amplifies the impact of technological innovations on aggregate output....

In this paper, we investigate causal relationships among exports, imports, and economic growth in North Korea by using time series data for the period between 1964 and 2004. The empirical results show that there was Granger causality from imports to GNP in the first half of the period. However,...

This paper analizes with cross-sectional data if the Golden Rule condition satisfies: where the saving index is equal to capital (beta) or to the real interest rate, equal to the gross output growth of households.