Institutions affect the process of economic growth through their many indicators. The authors have checked the relationship between institutions and economic growth in selected countries of South Asia by using data from 1995 to 2010. The results of ‘Fixed Effects Estimation’ and ‘Generalize Method of Moments’ confirmed the significant positive relationship between institutions and economic grow...

This paper provides a dynamic general equilibrium framework to investigate how organizations change the modes to govern transactions over time and how such organizational change leads to endogenous process of economic development. We show that the agency problem becomes less serious when the economy is developed well so that large market size favors decentralized organizations having more speci...

That RTD (Research and Technological Development) expenditure is related to social and economic development is widely acknowledged. At first sight, this relation could be traced as follows: “Expenditure in basic research produces discoveries used by applied research to conceive new products or new processes which generate positive social and economic impacts in the mid-long term” (STOA, 1999). ...

The processing of Navon figures (Navon, 1977), i.e., hierarchical letter stimuli, has been studied in experimental settings for many years. In particular, they have been studied in the context of visual hemifield studies and yielded an interaction between hemifield and whether a target is at the local or global level, with a right hemisphere advantage for the global level, and a left hemisphere...

The analysis in this chapter shows that the differential rate of growth in the manufacturing sector was the key driving force behind regional disparities in Ireland, and that this in turn has been driven by differential productivity growth. The degree to which the divergent pattern is due to the underlying industry characteristics was considered in detail. The analysis suggests that there are s...

Economic policy agencies produce forecasts with accompanying narratives, and base policy changes on the resulting anticipated developments in the target variables. Systematic forecast failure, defined as large, persistent deviations of the outturns from the numerical forecasts, can make the associated narrative false, which would in turn question the validity of the entailed policy implementati...

How do government policies and business practices affect the degree of competition in a given market? How does competition, in turn, affect market outcomes, such as prices, innovation and access to services? With funding from the UK Department for International Development, ODI has compared economic performance in four product markets – sugar, cement, beer and mobile phone services – across Ban...