There is a well-known debate about the roles of geography versus institutions in explaining the long-term development of countries. These debates have usually been based on cross-country regressions where questions about parameter heterogeneity, unobserved heterogeneity, and endogeneity cannot...

The aim of this paper is to explain the impact of the establishment of the system of landownership on the income distribution and economic growth of settler economies (Argentina, Australia, New Zealand and Uruguay) during the First Globalization. We consider a conceptual framework based on the...

Transformation of the economy in Ukraine since its independence took place fast enough. However, the former communist system had a powerful influence on market mechanisms. As a result, the effectiveness of their actions did not justify expectations, because the market mechanisms could not...

The question we address in this paper is why the Japanese miracle didn't take place until after World War II. For much of the pre-WWII period, Japan's real GNP per worker was not much more than a third of that of the U.S., with falling capital intensity. We argue that its major cause is a...

Weak property rights over land prevent efficient allocation of production factors in the developing world. Farmers who lack title secure access to the land they work by providing evidence of productive use. The ``use it or lose it'' principle leads to a thin land rental market and a...

Global value chains (GVCs) are increasing during the past decade, thereby raising new policy challenges for many countries, regarding various fields, as trade, competitiveness, innovation and management of global systemic risk. Today, world economy is characterized by global value chains in...