This working paper aims to stress the role of the institutional capital and its components, as primary factors, in economic results at the national level, using adequate measurement indicators and econometric models. For this purpose, we analysed the following aspects: the definition of...

We by this paper assess the risk investor's face by way of operating Bitcoin exchanges, which however convert Bitcoins into hard currency. We examine the cause of closure of these exchanges and what investors should look for as well as the path to take in investing in an exchange

Aim/purpose - External aid allocation by the donors in recent years has been fraught with instability and volatility. This has a negative consequence on the recipient economies particularly those that are highly aid-dependent. A good solution to the problem requires much understanding of factors...

This study investigates estimation errors due to hidden costs — the costs of implementation that are neglected in strategic decision-making processes — in the context of services offshoring. Based on data from the Offshoring Research Network, we find that decision makers are more likely to...

A problematic outcome of the cross sectional study of convergence is that developing economies are often estimated to be above their steady states, implying that they have too much capital per worker. This paper introduces a method to estimate steady states in a way that can explain this...

Acemoglu, Johnson, Robinson, and Yared (2008) demonstrate that estimation of the standard adjustment model with country-fixed and time-fixed effects removes the statistical significance of income as a causal factor of democracy. We argue that their empirical approach must produce insignificant...

This paper analyzes impacts of democratization in Africa, including effects of improved, property rights on economic growth and of greater political participation on civil violence. Democracy is endogenous to economic growth and other outcomes, which hampers most, empirical analysis. This paper...