The present paper deals with the role of political authorities and institutions in explaining growth failures. We aim to search answers for three related questions: is there a natural resources curse? Are all types of natural resources exposed to a curse? Can good institutions, measured by a...

The features of innovation, flexibility and change mutually influence one another. Provided that change is perceived as a feature leading to innovation, flexibility is the feature that enables it. Innovation cannot exist without change but nonetheless each and every change leads to innovation....

This study examines telecommunications productivity, technological catch-up and innovation in 74 countries for the period 1991-1995. A summary of partial productivity indicators is presented, and total factor productivity (TFP) growth is calculated using the Malmquist productivity change index....

This study incorporates an institutional theory framework in which social norms affect interorganizational cooperation (IC). Empirical findings from a survey of 96 Romanian manufacturing firms support proposed hypotheses. Interorganizational trust is positively related to IC. Individualism and...

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...

Information is the lifeblood of most market economies. Nevertheless, attempts to jump start information flow by creating Market Information Services for food and agriculture usually fail. The author distills experiences and lessons from other studies and individual experts in the field on the...

A long tradition in economics explores the association between the quality of formal institutions and economic performance. The literature on the relationship between such institutions and happiness is, however, rather limited, and inconclusive. In this paper, we revisit the findings from recent...

National antitrust policies have potentially profound effects on global competitiveness of individual industries. Public policy interventions affecting organizational arrangements within industries, enforcement of commodity standardization, and price competition, as well as the regulation of...

I evaluate the welfare effects of the 1997 merger between Boeing and McDonnell Douglas in the medium-sized, wide-bodied aircraft industry. I develop an empirical model of multi-product firms, allowing for both learning-by-doing and product innovation in a dynamic game to quantify merger...