The main objective of the paper is to use the following terms of Daron Acemoglu and James Robinson - Despotic, Real, Paper, Shackled Leviathans - to check and evaluate the state of democracy, governance and social power in Central and Eastern European Countries (CECCs). Six states were included...

Empirical studies emphasising supply factors argue that poor countries as a whole show a catching up tendency of rich countries as a whole. We offer a demand side SAM model to highlight the convergence in economic growth. The model predicts, after adjusting for peculiarities of economic systems,...

There is a debate in the literature on the appropriate methods and metrics for evaluating the economic impacts of tourism investments. Available analytical techniques include input-output modelling, computable general equilibrium modelling, cost benefit analysis, expenditure-based methods, and...

Dynamic models have been used in most businesses serving different purposes. The increased changes of the Telecommunications environment have created a dynamic industry emerging new dynamic economic models. We investigate the Telecom industry by conducting macroeconomic infrastructural analysis...

Individualistic cultures are associated with economic growth and development. Do they also improve governance of the commons? According to the property rights literature, conservation is more likely when the institutions of property arise from a spontaneous process in response to local problems....

In this paper, I argue that cultural additivity mechanism could be the means of human survival and development. My point is based on two core works. The first is “Cultural additivity: behavioural insights from the interaction of Confucianism, Buddhism, and Taoism in folktales”. In this...

This paper presents a simple model for analysing the contribution of investments in physical and institutional infrastructure to the transition process. In addition to the direct cost savings, infrastructure investment generates important indirect effects, or transition impacts. The model shows...

This paper is dedicated to the relation between market development and democracy. We distinguish contexts and preferences and ask whether it is true that the demand for democracy only emerges after a certain degree of market development is reached, and whether, conversely, democratization is...

This paper studies the relevance of political stability on foreign direct investment (FDI) and the relevance of FDI on economic growth, in three panels. The first panel contains 11 very small economies; the second contains five well-developed and politically stable economies with highly positive...