The topicality of the international political economy is determined by the complexity and dynamism of transformation processes in the world economic system, which are developing through information networks and financial technologies. The purpose of the article is to reveal the meta-theory...

In recent years, a number of countries with emerging economies have proceeded to use market-oriented strategies, deregulation and reforms in order to attract more foreign investors and attract foreign direct investment (FDI) inflows. The present paper aims to empirically investigate the role of...

After having met severe opposition with its introduction, evolutionary ethics is becoming increasingly popular. One adherent is Ken Binmore, who - extremely simplified - argues that evolution has equipped humans with the inclination to reciprocate, and that via reciprocity moral norms have...

Objective: This article aims to identify the link between institutional pressures and strategic responses of international new ventures (INVs). Research Design & Methods: This article reviews and theoretically synthesises extensive literature from the institutional and international...

By focusing on the tacit and explicit characteristics of informal and formal institutional distances, this study investigates the competitive advantage of foreign subsidiary firms from developed countries and emerging markets operating in Latin America. Following recent research on distances in...

It is now abundantly clear that social norms channel behavior and impact economic development. This insight leads to the question: How do social norms evolve? This survey examines research that relies on geography to explain the development of social norms, and suggests that religion and family...

While the short-term effects of the COVID-19 pandemic on lives and livelihoods are well understood, we know little about the effect of the pandemic for longer-term outcomes such as corruption. We look at the historical data on political and economic crises to assess what we can learn from the...

In this paper, we study the role of risk-sharing in entrepreneurship-driven innovation. Studying entrepreneurship and innovation entails modeling an occupational choice and an effort choice. Risk-sharing may increase the number of individuals who become entrepreneurs by limiting the downside...

Formal institutions, e.g., regulations, are considered crucial determinants of entrepreneurship, but what enables regulatory change when there is a regulatory void, meaning entrepreneurship clashes with existing regulations? Drawing on public choice theory, we hypothesize that regulatory freedom...

In this paper we provide evidence using annual data for the period 1880 to 1986 that institutional variables are significant determinants of velocity in the United States, United Kingdom, Canada, Sweden and Norway. This evidence supplements our earlier findings (Bordo and Jonung, Cambridge...

Abstract : This paper aims to investigate the economic and institutional determinants of Foreign Direct Investment in the world post-2000. To this end, I analyze the inwards stocks of FDIs using unilateral and bilateral data. Based on the UNCTAD database, I also study the impact of Bilateral...

Sustainable investing is growing into its moment. Funded pensions, which were among the first institutions to respond to sustainability concerns, are showing renewed interest in better ways to reflect responsible investing objectives, along with regulators, asset managers and shareholder groups....

Recent scholarship contends that ancient Mediterranean economies grew intensively, contrary to standard Malthusian predictions. An explanation is Smithian growth spurred by reductions in transaction costs and increased trade flows. This paper argues that an ancient Greek institution, proxenia,...

Many countries that are richly endowed with natural resources have failed to turn that resource wealth into sustained development. In many places, a small coterie of elites have become rich while most citizens see little benefit from their country’s vast resource wealth. The principal cause of...

Academics and journalists have depicted government bureaucracies as particularly subject to administrative constraints, including the infamous red tape and personnel rules that sharply constrain pay, promotion and dismissal and weaken their relations to performance. Research on these topics has...

The dynamism of investment law was channelled through international institutions to a greater extent in 2017 than ever before. For decades, investment law has been defined by its decentralization—by the absence of an institutional hub for multilateral deliberations—and by the difficulty of...

The issue of what explains differences in the wealth of nations is one of the most classic in economics. We propose de facto academic freedom as an explanatory variable. The main idea is that such freedom allows for the development of new useful knowledge through research unconstrained by...

The whole complex of pandemic, economic, and social crises has become a kind of a stress test for the system of multilateral cooperation as it is weakened by geopolitical conflicts, contradictions between the key members and growing mistrust due to stalled reforms of international organizations...

Do political institutions shape economic policy? I argue that this question should naturally appeal to economists. Moreover, the answer is in the affirmative, both in theory and in practice. In particular, recent theoretical work predicts systematic eects of electoral rules and political regimes...

This article studies how institutional dynamics might affect the implementation of climate- related financial policies. First, we propose a three-dimensional framework to distinguish: i) motives for policy implementation (prudential or promotional); ii) policy instruments (informational,...

We investigate the role of national institutions on subnational African development in a novel framework that accounts both for local geography and cultural-genetic traits. We exploit the fact that the political boundaries in the eve of African independence partitioned more than two hundred...