We empirically investigate how macroeconomic experiences shape individual attitudes towards risk and time in a developing country context with rapid and volatile economic change. To do so, we link a large longitudinal data set from Indonesia, containing repeat measurements of risk aversion and...

What is the role of entrepreneurship in economic development from the perspective of neo-austrian and new institutional economics and what is the difference between these approaches? Neo-austrian economists claim that economic development is caused by entrepreneurial discovery. New institutional...

Czech Abstract: Jaký je význam právního státu v ekonomickém rozvoji z hlediska podnikatelských ekonomických teorií?English Abstract: What is the importance of rule of law in economic development from the perspective of entrepreneurial economic theories? Adam Smith argues that economic...

This paper examines the link between multinational enterprises and employment growth atthe plant-level. We investigate in detail the comparative response of multinationals anddomestic firms to an economic crisis, using the empirical setting of a well defined case ofeconomic slowdown in Chile as...

This paper uses the framework of long-term financial system development to describe andassess the reform process in Thailand after 1997. The present financial reforms are well inline with the pattern of financial development found in the academic literature. A detailedanalysis of capital...

Many scholars have argued that once basic needs have been met, higher income is no longer associated with higher in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of rich and poor people within a country. Analyzing multiple...

This paper discusses the recent literature on the role of the state in economic development. It concludes that government incentives to enact sound policies are key to economic success. It also discusses the evidence on what happens after episodes of economic and political liberalizations,...

The issue of poverty traps is assessed using quantile regression. For that an augmentation of the usual convergence regressions by quadratic and cubic terms is used with emphasis on curve fitting rather than parameter estimation. The results show that the generic mechanism leading to poverty...

Long-run development (in income) causes a large fall in the share of agriculture commonly known as the agricultural transition. We confirm that this conventional wisdom is strongly supported by the data. Long-run development (in income) also causes a large increase in democracy known as the...

The Grand Transition (GT) view claims that economic development is causal to institutional development, and that many institutional changes can be understood as transitions occurring at roughly the same level (zones) of development. The Primacy of Institutions (PoI) view claims that economic...