We investigate whether the impact of institutions depends not just on their current state but also on how they came to be. In particular, we hypothesize that while economic freedom that emerges spontaneously may be growth promoting, economic freedom that emerges as a result of costly lobbying efforts may be less fruitful. In an extreme case, costly lobbying efforts may even negate the growth-en...

PORTER M. E. (2003) The economic performance of regions, Reg. Studies 37, 549–578. This paper examines the basic facts about the regional economic performance, the composition of regional economies and the role of clusters in the US economy over period of 1990 to 2000. The performance of regional economies varies markedly in terms of wage, wage growth, employment growth and patenting rate. Base...

The banking sector is one of the important financial intermediaries in an economic system. Improvement in the banking sector can achieve optimal allocation of financial resources. The performance of banks and other financial service providers has direct effect on economic growth. One of the factors that can affect the banks operation is economic freedom. Economic freedom and freedom of private ...

2.1. Real GDP growth averaged 11.2% per annum during the 2003/04 and 2008/09 period, placing Ethiopia among the top performing economies in Sub-Sahara Africa. This growth performance is well in excess of the population growth rate and the 7 percent rate required for attaining the MDG goal of halving poverty by 2015. Yet, a number of issues warrant the attention of policy makers. 22.2. Ethiopia’...

In this paper fourteen selected developing economies, including Iran, are compared to evaluate the Iranian position in attracting foreign direct investment (FDI). The evaluation is based on economic performance, risk, liberalization policy, and FDI determinant indicators. The results show that the Iranian economy has a sound economic performance and its economic, financial, and political risks ...