Diese Schrift behandelt ordnungs- und institutionenökonomische Aspekte des Systemwandels im allgemeinen sowie die monetäre Transformation im besonderen. Das auf dem Washington Consensus beruhende wirtschaftspolitische Standardkonzept und dessen Theoriedefizite werden hinterfragt und um...

Innovation is at the basis of economic development and as such, it is instrumental for developing countries. We review the literature on innovation from the perspectives of four select branches of economics to build a conceptual framework of innovation applicable to developing countries. The...

This paper introduces the historical dataset with economic time series of socialist Bulgaria, Czechoslovakia (CSSR), the German Democratic Republic (GDR), Hungary, Poland, Romania, the Soviet Union (USSR) and Yugoslavia from 1944 to 1993 as well as a new dataset on Albania created as part of...

One of the main disadvantages of currency boards is the rule-based character of this system and the resulting inflexibility in case of shocks, a frequently recurring event in transition countries. Accordingly, central banks under currency board arrangements (CBA) are unable to respond to...

This study measures the degree of dollarization in North Korea using results from a survey of 231 North Korean refugees. Specifically, we compare foreign currency use of households as both store-of-value substitutes (i.e., asset substitution) and transaction substitutes (i.e., currency...

In response to the COVID-19 pandemic, G7 central banks have launched asset purchase programs in anticipation of an increase in government bond offerings to finance ballooning fiscal deficits. As the volume of government bonds owned by private investors is not expected to rise during the current...

This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels to the case of ancient Egypt. In doing so, the paper examines the historical applicability of the chartalist and metallist theories of money. It will be shown that the origins...

A complete set of transactions, more than 40 million within a 1.8 year span, allows us to track the evolution of the trader network and the goods network in an on-line trading community. The computer platform was designed to make barter exchange as attractive as possible; money was not part of...

Wie ließe sich die große Vielfalt an funktionalen Geldsystemen systematisch erfassen und übersichtlich darstellen? Und, weil viele monetäre Wirkungsweisen umstritten sind, konkreter: Wie müsste eine grundlegende Wissensordnung zu Geldsystemen aufgebaut sein, damit sie für die untereinander...

Die jüngste globale Wirtschafts- und Finanzkrise sowie die Eurokrise werden kurz skizziert und analysiert. Wirtschaftswissenschaftler waren an diesen Krisen und ihrer Überwindung beteiligt. Ihr Anteil sollte jedoch nicht überschätzt werden. Mehr Forschung zu relevanten Problemen und eine...