The competitiveness of a country, besides the quantity and quality of factors of production, is largely dependent on institutional factors. It is not surprising therefore that the alteration of formal institutions (e.g. laws, measures, policies etc.) is a hot topic nowadays. But it is important...

In the post-WWII era, most developing economies had decent economic growth, but, with current growth trends, the great majority of them are unlikely to transform into developed economies in near future. In these economies, the dual economic structure, the coexistence of the modern/formal sector...

The paper discusses some theoretical-methodological basis for the institutional change analysis in transitional countries. First, the paper shows the specific approach of the Marxian school of economic thought to the analysis of social and economic institutions. Second, the most general features...

We propose a dynamic general equilibrium model to address the effects of technological progress on immigrant skill composition. Our results from this positive model suggest that neutral and skill-biased technological change imply essentially different immigration policies. On the one hand,...

The examination of the relationship between oil resources and economic growth reveals that oil curse in oil countries is not reliable and these countries can be divided into countries with poor and rich institutions. In the first group, oil revenues have a negative and significant effect on the...

The primary purpose of this paper is to explore the potential for EU-SILC data to deepen our understanding of the determinants of inequality in workers’ formal life-long learning (LLL) in Europe. In particular we investigate the incidence of personal, job-specific and firm-specific...

This article discusses the distinction Mises (1919) draws between the nation and the state as well as the relation of this distinction with the role of the state in the free society. A previous version of this article received the 1st Prize of the European Center of Austrian Economics...

This paper analyses the relations between poverty, inequality and economic growth in Brazil. First of all, based on recent research, it shows characteristics and historical evolution of inequality and poverty. These characteristics are not novelty to specialized research, but drawing them as...

We take a garden-variety instance of distributive politics-- a divide-the-cake stage game -- and explore dynamic extensions in different institutional settings: (i) repeated play of the stage game in a simultaneous-term unicameral legislature; (ii) repeated play in a staggered-term unicameral...

Modern economies are increasingly based on knowledge and, more generally, on the intangible assets that favour the economic development. Knowledge-based economies are founded on increasing specialization, research, innovation and learning. The change towards a knowledge-based economy is...