This paper analyses the impact of technological capabilities on convergence. While looking at the relevance of differences in technological capabilities has a long tradition in economics when it comes to explaining persistent deviations in income, we provide econometric tests on the role of...

At its core, the discussion on the micro-macro link in heterodox economics is concerned with the correct treatment of aggregates and aggregation in social theory. In this chapter we survey heterodox approaches to the micro-macro link with a focus on shared understandings and convictions that...

This short paper explains the theory of path dependence and clarifies its relation to concepts such as positive feedback or lock-in, arguing that path dependence is a core theoretical element of political economy in general, and institutional and evolutionary economics in particular. We first...

This entry discusses the concept of "systemism", elaborates how it implicitly underpinned most seminal works of evolutionary-institutional economics, and explains how future research would benefit from making the systemist nature of evolutionary economics more explicit. More precisely, the paper...

At its core, the discussion on the micro-macro link in heterodox economics is concerned with the correct treatment of aggregates and aggregation in social theory. In this chapter we survey heterodox approaches to the micro-macro link with a focus on shared understandings and convictions that...

This short paper explains the theory of path dependence and clarifies its relation to concepts such as positive feedback or lock-in, arguing that path dependence is a core theoretical element of political economy in general, and institutional and evolutionary economics in particular. We first...

This short paper discusses the concept of "systemism", elaborates how it implicitly underpinned most seminal works of evolutionary-institutional economics, and explains how future research would benefit from making the systemist nature of evolutionary economics more explicit. More precisely, the...

This paper analyses economic developments in the Eurozone over the period 1999-2016 by developing a theoretical framework that traces divergent path developments across Eurozone countries to the times before the financial crisis. We argue that macroeconomic divergence between core and periphery...