The role of manufacturing input diversification is addressed in a two-sector model of endogenous growth. The general economic equilibrium is solved for the world. It is also solved for a small country with scant capital accumulation, low input diversification and high agricultural productivity....

We set up a theoretical framework to analyze the possible role of economic growth and technical progress in the erosion of social capital. Under certain parameters, the relationship between technical progress and social capital can take the shape of an inverted U curve. We show the circumstances...

This article tries to show that there are alternative approaches to the economic theory, besides the well-known economic schools, Classicism, Neoclassicism and Keynesianism. The neoclassical principles allow a formalization – widely accepted by experts – that provide effective tools for...

Societies in Western civilisation enforce their rules through formal institutions such as secularism (SES), whereas in less developed civilisations often rely on informal institutions such as religion (RES). The present paper attempts to explain the determinants of societies’ choice between...

Societies in Western civilisation enforce their rules through formal institutions such as secularism (SES), whereas in less developed civilisations often rely on informal institutions such as religion (RES). The present paper attempts to explain the determinants of societies’ choice between...

Societies in Western civilisation enforce their rules through formal institutions such as secularism (SES), whereas in less developed civilisations often rely on informal institutions such as religion (RES). The present paper attempts to explain the determinants of societies’ choice between...

One of the basic premises of societies and economies is the capability of humans to understand and judge the aims and motivations of others. We are continuously observing the facial expressions of our fellows. We keep watching and try to understand the undercurrents of important events for us....

One of the basic premises of societies and economies is the capability of humans to understand and judge the aims and motivations of others. We are continuously observing the facial expressions of our fellows. We keep watching and try to understand the undercurrents of important events for us....

We use a new dataset from Burundi to analyze the role of local institutions as determinants of income, distinguishing between three distinct dimensions of the institutional framework: (i) property rights security, (ii) local political leadership and (iii) social capital. Using measures of...

The link between economic growth and institutions has been studied for more than ten years. Our goal is to take stock of this literature in order to identify more precise and conscious directions for future research. We first introduce the reference framework and by means of a simple comparative...