The objective of this paper is to study the relationship between the demand for human rights and the demand for economic prosperity from the “exit” perspective, looking at migration patterns. We investigate intra-national migration in India, which is a federation of various states that...

The aim of the paper is to study the relation between the demand for human rights and for economic prosperity. It analyzes the demand not, as it is often done in the literature, from the 'voice' perspective (political activity), but rather looks at the 'exit' perspective (migration patterns)....

The aim of the paper is to explicitly disentangle the role of political and cultural boundaries as factors of fragmentation of economies within large countries. On the one hand, local protectionism plays a substantial role in many federations and decentralized states. On the other hand, if the...

In the past two decades, controversial evidence has been produced supporting the case for local protectionism in China. This paper overviews the most important contributions and presents a new approach which applies spatial econometrics on prefectural-level data. The main advantage of this...

This paper presents a new value at risk (VaR) estimation model for equity returns time series and tests it extensively on Stock Indices of 14 countries. Two most important stylized facts of such series are volatility clustering, and non-normality as a result of fat tails of the return...

This paper investigates the role of boards in founder-managed firms with concentrated ownership in emerging markets. The existing literature suggests that this type of company, even if they decide to recruit high-profile individuals as directors, rarely empowers the boards in the corporate...

This note presents a simple model of how resource rents can affect economic growth of a region of a centralized country, where sub-national governments have no authority over resource industries. The growth effect of resources appears to be conditional on the quality of institutions in the...

In economics, the local knowledge advantage is arguably one of the key arguments in favor of decentralizing the public sector. However, empirical investigations of this particular effect have been scarce. This paper tests the existence of the local knowledge advantage in a real-world setting....

The book examines the major economic and political transitions currently taking place in the Eurasian continent. Vinokurov and Libman provide a detailed account of various aspects of Eurasian integration, looking at both its bright side (trade, investments and joint infrastructure) and dark side...

Within a single generation, the post-Soviet political, economic, and social landscape has changed immensely. The new structures — ranging from national power structures to a completely new economic reality based on the market instead of centralized planning — have come into existence. As 20...