Cybercrime activities are supported by infrastructures and services originating from an underground economy. The current understanding of this phenomenon is that the cybercrime economy ought to be fraught with information asymmetry and adverse selection problems. They should make the effects that we observe every day impossible to sustain. In this paper we show that the market structure and des...

The extent to which labour market rigidity can be beneficial for an economy is investigated in a model where technological change is non-general purpose and different types of skills are available to workers. More precisely, specific skills lock a worker into a particular technology but increases productivity. Conversely, general skills allow workers to move across technologies at the cost of l...

Although entrepreneurial success is often attributed to reciprocity in "ethnic resources" or "social capital," this explanation does not directly address ethnic groups with marginal business-ownership, such as among Mexicans, or non-immigrant, "non-ethnic" business-ownership, such as among Whites. Instead of focusing on ethno-cultural differences, this presentation suggests that three forms of ...

The study examined the relationship between stock market performance and economic growth in Nigeria. It utilized the bounds testing co-integration procedure also known as autoregressive distributed lag estimation procedure. The empirical model combined key stock market indicators and some traditional macroeconomic variables to estimate the hypothesized relationship in the study. It found that i...

Comparative political economy is often based on the premise that the latter is true. In particular, the now classic Varieties of Capitalism (VofC) comparative approach postulates two types of institutional frameworks. The general idea was that each institutional solution generates positive externalities which may or may not be captured by specific solutions in other institutional domains. There...

Endogenous Indoctrination: Occupational Choice, the Evolution of Beliefs, and the Political Economy of Reform Much of the political economy analysis of reform focuses on the conflict of interest between groups that stand to gain or lose from the competing policy proposals. In reality, there is also a lot of disagreement about the working of the policy: in addition to conflicting interests, conf...

B. Gajdzik, The Silesian University of Technology, Faculty of Materials Science and Metallurgy, Katowice, Poland The article presents the assumptions for construction of a transformation restructuring model which describes, in a complex way, the range of changes implemented in metallurgical enterprises in Poland in time of economical changes. The model was prepared on the basis of thorough rese...

Our objective is to study, in a labor market characterized by search frictions, the effects of technological progress on the average quality of the job matches. We will see as results that the effects of technological progress on the labor market depend upon the initial conditions of the economy. If the economy is totally characterized by the presence of low-quality job matches, an increase in ...