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Edited by Claude Ménard and Mary M. Shirley

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Philip Keefer

Though pathbreaking scholarship has placed collective action problems at the core of economic development, our knowledge is still incomplete about the sources of stable collective action. This chapter focuses on continuing questions surrounding the role of collective action in the shaping of government policy. To what extent do informal norms of cooperation allow citizens to act collectively to influence government? Organizations, particularly political parties, can solve citizen collective action problems. When do policy-based – programmatic – parties emerge that allow for collective action around policy issues? State capacity is most accurately seen as a quality of public sector organization: can public sector organizations mobilize public sector workers in the collective task of serving the public interest? However, governments take starkly different attitudes towards improving state capacity. What explains this variation? This chapter suggests that these questions should be at the core of future research on institutions and development.

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Lauren Andres and John R. Bryson

The focus of this chapter is on city-regions located in a context of ‘regeneration economies’ or in other words areas that are experiencing an ongoing process of recovery, adaptation or in-depth transformation. This process of transformation is occurring in all city-regions, but with different drivers, both exogenous and endogenous, and with variations in intensity and impacts. There is no such thing as a representative or standard city-region. Every city-region is a distinct, even unique, bundle of assets or resources including subjective ones such as reputation, heritage and stories that are told of that place. In addition, every city-region has different degrees of local, national and international connectivity. At the centre of the analysis of city-regions is heterogeneity and a complex interplay between place, space and a concatenation of spatial and sometimes aspatial processes. The chapter reviews ongoing debates on city-regions with a focus on exploring city-regions as regeneration economies.

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Ove Granstrand

IC is of major, if not dominant, importance in advanced economies. Adoption of capitalist institutions and pro-innovation policies worldwide. Intellectual capitalism as a knowledge-based capitalist economy has emerged, promoting a strong (and criticized) IP regime with strong growth of registered IPRs. Sweden, S. Korea, Switzerland and the US rank highest on innovation spiral variables, and these variables were all positively correlated, except for growth, which was uncorrelated. Small and mostly old Western European countries were found to dominate the set of top ten countries regarding entrepreneurship, quality of government, competitiveness, rule of law and democracy, and EU countries dominated among the top ten regarding quantity of government. Quantity of government was statistically disconnected from all innovation spiral variables as well as from quality of government. Strong innovation spirals appeared to be associated with small countries with high quality democratic governments and strong rule of law while large low quality governments were associated with weak innovation spirals.

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Claude Ménard and Mary M. Shirley

When New Institutional Economics (NIE) first appeared on the scholarly scene in the early 1970s, it was a transformative movement. NIE aimed to radically alter orthodox economics by showing that institutions are multidimensional and matter in significant ways that can be statistically measured and systematically modeled. In the decades since, thousands of articles and books have pursued this premise and NIE has evolved from an upstart movement to a major influence on researchers in economics, political science, law, management, and sociology. What made New Institutional Economics a radical idea was that it abandoned: [. . .]the standard neoclassical assumptions that individuals have perfect information and unbounded rationality and that transactions are costless and instantaneous. NIE assumes instead that individuals have incomplete information and limited mental capacity and because of this they face uncertainty about unforeseen events and outcomes and incur transaction costs to acquire information. To reduce risk and transaction costs humans create institutions, writing and enforcing constitutions, laws, contracts and regulations – so-called formal institutions – and structuring and inculcating norms of conduct, beliefs and habits of thought and behavior – or informal institutions. (Menard and Shirley, 2005, p. 1)

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Edited by John R. Bryson, Lauren Andres and Rachel Mulhall

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Ove Granstrand

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Nicholas Kreston and Dariusz Wójcik

This chapter seeks to explain why only a minority of US metropolitan areas enjoyed quicker recovery and higher levels of economic growth following the 2008 banking crisis and recession of 2007-2009. An uneven pattern of growth came into being over the course of the recession and persisted through 2013, evident in both total employment and on a sectoral basis. Using cluster analysis, we characterize the best performing group of metropolitan areas as exhibiting less economic sectorial diversity than average and lower rates of subprime mortgages as a share of all households. The worst performing areas show the highest average rates of household distress as well as bank failures. The most consistent pattern among our variables was that gradually worsening growth outcomes were associated with increasingly larger subprime mortgage and HAMP concentrations. Our findings recommend further research into the conditions of financial distress among metropolitan areas as well as into the nature of sector specialization, as both potential factor affecting growth.

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Salvatore Rossi

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Edited by Riccardo Viale, Shabnam Mousavi, Barbara Alemanni and Umberto Filotto