Economists have used cross-national regression analysis to argue that postcommunist economic failure is the result of inadequate adherence liberal economic policies. Sociologists have relied on case study data to show that postcommunist economic failure is the outcome of too close adherence to...

Economists have used cross-national regression analysis to argue that postcommunist economic failure is the result of inadequate adherence liberal economic policies. Sociologists have relied on case study data to show that postcommunist economic failure is the outcome of too close adherence to...

A stock exchange and the presence of functioning equity markets are part and parcel of an advanced market-based financial system. Previous research has also established that equity markets function more efficiently in the presence of supporting institutions such as property rights and rule of...

A stock exchange and the presence of functioning equity markets are part and parcel of an advanced market-based financial system. Previous research has also established that equity markets function more efficiently in the presence of supporting institutions such as property rights and rule of...

Any competitive process selects among qualities possessed by the competitors, and with different processes selecting for different qualities. While the competitive form is universal, the substantive qualities that are selected depend on the particular environment within which competition occurs....

Theoretical and practical problems of structural policy are considered under institutional uncertainty, financial constraints and fiscal consolidation programs. The necessity for development and implementation of a new concept of structural policy is justified in view of the actual state of the...

This paper unfolds an analytical perspective on the evolution of property rights in Russia from Tsarist times until today, combining the theory on violence and institutions suggested by North, Wallis and Weingast with Foucault's analysis of power in society, especially his notions of biopolitics...

Most taxonomies of economic systems are dualistic, such as distinguishing between ‘plan' and ‘market'. Following A. Sen, I argue that these approaches fall into the trap of ‘transcendental institutionalism'. As an alternative, the paper develops principles of evolutionary taxonomy that...

Special economic zones (SEZs) have been touted as “tools for development”, and yet their results have often been disappointing. We explain how SEZs can be used to reform a country from a system dominated by rent-seeking to a liberalized economy, where officials derive their revenues from...