Political scientists and economists increasingly agree that institutions may influence economic growth, but there is little general agreement on what institutions tend to produce what consequences. We apply public choice insights for a theoretical analysis that may be termed “Madisonian”:...

In diesem Beitrag folgen wir der aktuellen Diskussion über die Aussagekraft der Maastricht-Kriterien für die Auswahl von Ländern zur Teilnahme an der EWU. Es wird gezeigt, daß diese Kriterien weder die Theorie optimaler Währungsgebiete ausreichend reflektieren noch der...

In diesem Beitrag folgen wir der aktuellen Diskussion über die Aussagekraft der Maastricht-Kriterien für die Auswahl von Ländern zur Teilnahme an der EWU. Es wird gezeigt, daß diese Kriterien weder die Theorie optimaler Währungsgebiete ausreichend reflektieren noch der...

At the core of the formation of the European Union (EU) in 1993 was the economic goal to create a European Common Market to ensure freer trade and perhaps to create an egalitarian Europe. The post-1993 period saw the biggest enlargement of the EU to date from a meagre 3 member countries...

The paper studies endogenous world balanced growth equilibria in which national learning productivity differentials govern relative per capita products. Learning productivities depend on the national share of world specialized goods production, national and world scale, and familiarity with the...

Theoretical models of growth reveal that either exogenous or endogenous, technology is the main driving force behind the long-run economic growth. Furthermore, in the endogenous growth framework, diffusion of technology is the basic mechanism of per capita income convergence among countries....

This paper presents a simple North-South model of endogenous growth, based on learning by doing, which is consistent with the following empirical observations: (i) the price of investment goods relative to consumption goods has been falling for the last 40 years in most industrialized countries,...