In this paper we examine the reasons behind the remarkable export performance of transition economies in the last two decades. Following Redding and Venables (2004, 2004a) and Fugazza (2004), we decompose export performance into the gains due to the advantageous access to foreign markets and...

Hungary launched her first foresight programme in 1997. As the country is undergoing fundamental economic and social changes, major institutions are being currently shaped. Therefore is high time to think about medium and long-term issues. In other words, now it is possible to devise strategies...

Research increasingly suggests that the effectiveness of competition laws and policies could be enhanced if their implementation would be linked with a better understanding of the cultural influences on competition-related decisions. Moreover, the lack of competition culture has been considered...

It is well known that protestant and puritan environments historically have fostered entrepreneurs. This paper looks at serial entrepreneurship which took place in Norway in the 19th century in networks led by the puritan leader Hans Nielsen Hauge (1771-1824) and his followers.The paper seeks to...

We analyze the dynamics of Chinese comparative advantage as measured by export shares and the Balassa index using 3-digit and 4-digit sectors for the period 1970 - 1997. We use novel tools to identify periods of rapid structural change and the persistence of comparative advantage, such as...

Manuscript Type: Perspective Research Question/Issue: Relation-based governance has helped China to achieve rapid economic growth in its early stage; however, continuing to rely on it may hinder China’s further development. The research question is: given China’s cultural heritage and other...

China’s economic transformation cannot be fully explained by focusing on a single variable; rather, it is a result of multiple institutional factors. Since the introduction of market-oriented reforms in 1978, a combination of formal and informal institutional changes as well as top-down and...

We empirically investigate the proposition that firms charge premia on cash prices in transactions involving trade credit. Using a comprehensive Swedish panel dataset on product-level transaction prices and firm-characteristics, we relate trade credit issuance to price setting. In a recession...

We investigate whether and how shocks propagate through trade credit. We exploit a large negative liquidity shock to firms in the Brazilian food industry, resulting from the announcement of a fraud investigation named Operation Weak Flesh. Using a differences-in-differences analysis, we show...