This paper extends previous research on the effects of process imitation on economic growth by accounting for stochastic intra-industry spillovers. We employ a non-Schumpeterian growth model to determine the impact of such spillovers on investment in industries where firms are either...

Systemic economic transition is a process of determined radical institutional change, aprocess of building new institutions required by a market economy. Nowadays, the experienceof transition countries with the implementation of new institutions could be reviewedas a method of economic...

This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for 80 countries over the period 1961 – 2000. We perform tests using the full sample of countries as well as sub-samples consisting of OECD countries, middle-income countries, and...

Regionalism is being explored by a wide variety of community players who include representatives from the public, private, and not-for-profit sectors (Dodge 1996, 1). Intermunicipal agreements, county service expansion, new region-wide special purpose governments, and multi-sector coalitions of...

This research seeks to identify the factors that account for the variation in development levels across nations by focusing on the institutional components of development, especially the effects of financial market development on economic and political development. I argue that financial market...

Knowledge accumulation in the richer countries provides them with comparative advantages in higher productivity products. The countries that import the higher productivity intermediate products and capital equipments produced in the richer countries, however, derive benefits from knowledge...

The first chapter demonstrates that although it is possible to design utility functions that behave like empirical well-being, the functional forms relying on income adaptation and social comparisons put forward in the happiness literature fail to receive empirical validation. Under the income...