The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020. However, the outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics, and the recovery pace is unlikely to be sustained. Ample buffers allowed...

It has been an age-old debate whether the financial structure matters for the real economy’s efficiency and therefore for real outcomes. We suppose that varying socioeconomic conditions require appropriately designed corresponding financial sectors. For providing evidence, we firstly determine...

It has been an age-old debate whether the financial structure matters for the real economy’s efficiency and therefore for real outcomes. We suppose that varying socioeconomic conditions require appropriately designed corresponding financial sectors. For providing evidence, we firstly determine...

This paper investigates the relationship between the coexistence of Islamic banks alongside their conventional counterparts and the quantitative and qualitative development of commercial banking and economic welfare. We study 22 Muslim countries with a dual banking system during the 1999-2009...

The paper handles central topics of social system theory, such as contingency,emergence, communication, reality construction based on cognitive epistemology, and differential logic. The conducted discussion is embedded in the construction of a hermeneutic approach to social system theory....

The paper handles central topics of social system theory, such as contingency,emergence, communication, reality construction based on cognitive epistemology, and differential logic. The conducted discussion is embedded in the construction of a hermeneutic approach to social system theory....

We develop Dobrescu’s ideas (2011, 2013) to discover the main characteristics of an economic or social system. Many classifications of models, based on different dissimilarity measures, were taken into consideration. Also a practical example, which analyzes the relations among some indicators...