Being one of the former centrally planned economies, Viet Nam is still home to a substantial state-owned sector. From the implementation of the "Doi Moi" policy in the late 1980s, the restructuring of state-owned enterprises (SOEs) since 1990 is considered as one of three crucial pillars in the...

This paper explores the link between trust in government, policy-making, and compliance. It focuses on a specific channel whereby citizens who are convinced that a policy is worthwhile are more motivated to comply with it. This in turn reduces the government's cost of implementing a policy and...

How will the private sector react to different governmental policies? What policies will produce the most desirable outcomes? These two volumes bring together major contributions to a new theory of macroeconomic policy that analyzes which policies are credible or politically feasible, topics...

In the presence of a time-inconsistency problem with optimal agency contracts, we show that competitive markets implement allocations that Pareto dominate those achieved by a benevolent planner, they induce strictly more effort, and they sometimes make the commitment problem disappear entirely....

The objective of the paper is to define the trajectory of economic institutional reforms in Russia as a framework of S&T policies. The methodology of this research is based upon the institutional matrices theory (Кирдина, 2001; Kirdina, 2003). The hypothesis claims that the “institutional...

La discusión acerca de la pertinencia de la intervención estatal en el mercado ha sido reiterativa enla historia del pensamiento económico. El turismo es otro ejemplo de que la regulación es no sólonecesaria sino fundamental, para corregir las asimetrías de un mercado que está lejos de...

Fiscal policy has become quite controversial in the post-Keynesian era, the debate over the Obama stimulus package being a contentious recent example. Some pundits go so far as to take the position that macroeconomic theory has failed to meaningfully progress in terms of providing useful...

We analyze the relationship between institutional infrastructure (capturing political stability, quality of government and social infrastructure) and overall country productivity for a sample of 57 (OECD and non-OECD) countries. Specifically, we compare empirical results for alternative...

The aim of this paper is to present the importance of the rules, the importance of those rules that influence economic activity. It will be presented the institutions starting from the "rules of the game" until the "rule of law". Then it will be explained the concept of "spontaneous order" and...

This document presents a conceptual framework and a method for deciding whether or not a function that was considered the responsibility of government should be performed by public organizations or devolved to private for-profit and non-profit organizations. This conceptual framework goes beyond...