Following Schumpeter, we assume that innovation in specific firms, or groups of firms, can have economy-wide effects. Models based on this idea can be shown to have multiple equilibria. The idea of a positive feedback loop innovation system, or POLIS, is formalized by picking an appropriate...

The central question addressed by this study is whether countries with above-average governance grew faster than countries with below-average governance. Using the World Bank’s worldwide governance indicators to measure governance performance, it examines whether a country with governance...

As experts have long recognized, debates about exchange rates are largely political. Even existing exchange rates are results of both market forces and manipulations by the big players including the central banks. The slogan of central bank independence is largely a smokescreen to hide the roles...

The main purpose of this paper is to explore the possibilities of industrialization and development in the 21st century. With an ongoing global financial and economic crisis with only a tepid recovery at the time of this writing(August 2013) as well as the still unfolding ecological crisis, the...

Should the U.S. reassess its grand strategy and as part of this reassessment change its policy perspective strategically in Asia? These are difficult and contentious questions. However, given the current turbulence in global politics and political economy, their importance is undeniable. I argue...