In this paper we propose an empirical model to decompose the evolution of the agricultural GDP share of Taiwan into three components: price changes, factor endowment changes and technological change. The full sample period is 1967 to 1997. The data were first tested to assess whether the time...

The new business cycle three-dimensional model is formulated on the basis of new system approach known as the Method of Systems Potential. Cyclical dynamics with catastrophe jumps (alike to N.Kaldor (1940) model) and some stochastic properties is described. Properties of such cycles are similar...

One of the main objectives of this paper is to show the dynamics that relates inequality, social capital and institutions. The most important result is that these dynamics could generate multiple equilibria. Thus, we can identify two types of equilibria: one with a low level of social capital...

This paper provides an introduction to the concept of social capital, and carries out a critical review of the empirical literature on social capital and economic development. The survey points out six main weaknesses affecting the empirics of social capital. Identified weaknesses are then used...

Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests, and conclude that modern intelligence tests are well-suited for measuring an important form of a...

This paper presents the dominating farming structure in Bulgaria on the eve of EU accession, and evaluates recent policies for farm and agricultural income support, and assesses likely consequences of CAP implementation on farming structures and sustainability. We demonstrate that a specific...

This paper attempts to shed light on the efficiency/effectiveness issues of informal financial markets and the pattern of portfolio allocation shift in response to change in interest rate, in the process of financial liberalization. The two issues have been both controversial and hotly debated...

It is a well-known problem that macroeconomic indicators calculated for different countries are not directly comparable if the original statistical data are expressed in different prices. The artificial prices, computable from input-output models, can provide quite a solid ground for the...

The paper uses micro-level data obtained from surveying informal and formal small textile producers in Bolivia to estimate the economic returns to social capital. Social capital is defined as being linked to other individuals. The paper studies forms of social links that vary with respect to...

Young (1995) estimated Total Factor Productivity (TFP) growth for Hong Kong, Taiwan, Singapore and South Korea. He reported moderate growth rates for these four regions. This means that rapid growth of GDP in these four economies is due mainly to fast increase of inputs. Young (2000) also...