This paper reconsiders two questions relating to India's economic growth: structural breaks in growth and the impact of equipment investment on aggregate economic growth. First, statistical tests of structural change show that economic growth in post-independence India has witnessed four...

In this paper, I develop a Marxian model of market for money capital populated by capitalists equipped with equal money capital endowment but with heterogeneous linear production technology. Due to a maximization of return on equity, capitalists with relatively weak technology, yielding profit...

Entrepreneurship plays a pivotal role for institutional change and economic development in transition and developing economies. Formal and informal institutions in such countries are often sub-par, but rather than being constrained by them, entrepreneurship can often affect institutions and...

In an attempt to mitigate the negative effects of clientelism, many governments around the world have adopted meritocratic hiring of public employees. This paper challenges the effectiveness of this common practice by showing that meritocratic government hiring can have unintended negative...

Agricultural commodity markets in developing countries are characterized by high transaction costs and risks that reduce trade flows among spatial markets. We examine whether institutionalized agricultural commodity exchange markets reduce transaction costs and hence spatial price dispersion...

We analyse the business model pattern behind the success of the Fortnite game. A theoretical model is used to examine the conditions where a Freemium strategy is appropriate. We also shed light on the structure of the in-game-shop and we analyse several features from a marketing perspective.

This paper aims to revisit the relationship between intangible capital and labour productivity growth using the largest, up-to-date macro database (2000-2015) available to corroborate the econometric findings of earlier work and to generate novel econometric evidence by accounting for times of...