Growth theory has identified a plethora of determinants for development; however, the more carefully economists study institutions, the more crucial they seem to become for the growth process. For decades economists focused on physical/human capital as well as technical change as sources of the wealth of nations. Crises and failed transition experiments in the 1990s brought to light that even t...

Credit constraints that link a private agent’s debt to market-determined prices embody a credit externality that drives a wedge between competitive and constrained socially optimal equilibria, inducing private agents to “overborrow.” The externality arises because agents fail to internalize the price effects of additional borrowing when the credit constraint binds. We quantify the effects of th...

A re inflation and growth inversely associated, directly associated, or not associated? Is the empirical inflationgrowth relationship primarily a long-run relationship across countries, a shortrun relationship across time, or both? Like a bickering couple, inflation and growth just cannot seem to decide what their relationship should be. In this article, we characterize the literature on inflat...

This paper analyses predictions of a simple model of currency crises in which the peg will be abandoned when the currency overvaluation hits a certain threshold, unknown to the agents. Due to learning about the threshold, some features usually observed in the data and identified with models with multiple equilibria arise in the model. But the model yields distinctive predictions about the behav...

The uniqueness of projects introduces aspects of management associated with disruptions that threaten progress and crises that affect the organisations that conduct them. The purpose of this paper thus is to review the nature of crises and their remedies that have interfered with project progress of an international construction company. Fifteen crises were studied in a ‘‘projects-as-practice’’...

What will the current economic crisis mean for the health of the people of Northern Ireland? We review the experience of three major economic crises in the 20(th) century: the Great Depression (1929), the Post-communist Depression (early 1990 s) and the East Asian financial crisis (late 1990 s). Available evidence suggests that health is at risk in times of rapid economic change, in both booms ...

an earthquake was happened on 23 october 2011 in van, turkey (mw7.2) at the eastern most area of anatolian plateau and in the neighborhood of iranian border (west azerbaijan province). the study was performed based on field and office observations and has been focused on the process of disaster management in turkey after the 23 october 2011 earthquake. we surveyed the quake from the view point ...

There is no software engineering crisis. In order to determine what is meant by the phrase “software engineering crisis,” it is informative to define both the term crisis and the term software engineering. We define crisis to mean a “crucial or decisive point or situation; a turning point.” [1] While not part of the definition, the usual connotation of a crisis further implies an impending disa...