We investigate whether income inequality affects subsequent growth in a cross-country sample for 1965-90, using the models of Barro (1997), Bleaney and Nishiyama (2002) and Sachs and Warner (1997), with negative results. We then investigate the evolution of income inequality over the same period and its correlation with growth. The dominating feature is inequality convergence across countries. This convergence has been significantly faster amongst developed countries. Growth does not appear to influence the evolution of inequality over time. Outline

https://www.econstor.eu/bitstream/10419/81822/1/02-28.pdf

Economic growth and income inequality

Trust: The Social Virtues and the Creation of Prosperity

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Likelihood Based Inference In Cointegrated Vector Autoregressive Models

dann zu seinem Gegenstand, der Selbstorganisation in der evolutorischen Ökonomik, zu gelangen (S. 256 ff.). Er vermutet, dass schon Adam Smith den Grundgedanken des Paradigmas „unsichtbaren Hand“ vorweggenommen habe (ebenda). Etwas verwirrend dürfte die Unterscheidung des Autors zwischen Mikround Makroebene sein (S. 257), wenn der Leser an die herkömmlichen Kategorien denkt. Gemeint sind vom Autor die einzelwirtschaftliche und die Ebene des Marktprozesses. Damit dürften die ungeplanten Ergebnisse auf der Marktprozessebene und die nicht intendierten Handlungsfolgen (wiederum bezogen auf die Marktebene) verständlicher werden. Später (S. 254) weist der Autor auf einen bedeutenden Unterschied zwischen der physikalischen und ökonomischen Selbstorganisation hin. Im ersten Fall sind die Systemelemente passiv, währen sie im zweiten Fall initiativ und mit Erwartungen sowie Absichten ausgestattet sind. Die beiden Fälle beschreiben das, was Hayek mit der Unterscheidung von geplanter und ungeplanter oder spontaner Ordnung meint. Für ihn dürfte die ungeplante Ordnung ein Phänomen der Selbstorganisation sein, während die geplante Ordnung ein Produkt der Fremdorganisation wäre. Abschließend kommt der Autor zu dem Ergebnis, dass die Übertragung des betrachteten Paradigmas auf die evolutorische Ökonomik sowohl nach Anwendungsbereich als auch nach Erkenntnisgewinn bescheiden bleibt (S. 260). Das dürfte, gemessen an der ebenfalls der klassischen Physik (Mechanik) entlehnten Neoklassik bescheiden sein. Es kann jedoch auch als Aufforderung angesehen werden, weiterzusuchen, ohne die zentralen Phänomene der Neuerung und Entwicklung aus dem Auge zu verlieren.

Violence and Social Orders: A Conceptual Framework for Interpreting Recorded Human History

/pdf/institutions-and-the-path-to-the-modern-economy-lessons-from-gfb723gyps.pdf

Institutions and the Path to the Modern Economy: Lessons from Medieval Trade / Avner Greif.

Growing market globalization, increasing global competition, more complex products results in application of new technologies, methods and business processes – due to the abovementioned tendencies novel supply chain strategies (Lean, Agile and Leagile Supply Chains) are established. In this study these supply chain concepts are being described and compared. Virtual enterprise is a temporary alliance of enterprises that come together to share their skills, core competencies, costs and resources in order to better respond to rapidly changing market environment and dynamic customer demands. Economic and social benefits and effects of virtual enterprises for customers and production companies and service providers are also described. Optimization software has been developed for optimal formation of virtual enterprise networks and is also introduced in this study. The aim of this software application is to define virtual enterprise as the optimal combination of supply chain members.

/pdf/the-concept-of-sustainable-regional-development-pspcr2jely.pdf

The Concept of Sustainable Regional Development - Institutional Aspects, Policies and Prospects

S. Kuznets wrote that structural changes are the central element in the process of development and the most important part of the growth model. They can hinder the growth, if carried out too slowly or inefficiently, but they can also promote economic growth if the distribution of resources gets better. The article has presented the authors' attempts to present new approaches to modeling the institutional behavior of economic agents. Different approaches and views on economic growth and economic development in their application to institutional changes are considered. The descriptive method explains the hypothesis of the dominant role of social innovations (primarily institutional changes) in social and economic development. Significance of sociocultural capital in the context of contemporary knowledge economy is potentiated. The conclusion is that transition countries must use exemplary models and civilization achievements of institutional changes in developed countries.

Preference of institutional changes in social and economic development

The article deals with a modern concept of controlling at enterprises in international business, which contains clarifications of the essence of controlling as a system and detailed consideration by its types: strategic and operational controlling, improvement of their goals, tasks, principles, functions and their relationship to other functions of management. The authors of the article explain how to choose controlling tools which are to be applied at a specific enterprise and suggest a system of controlled performance indicators of an industrial enterprise. A methodical approach to controlling of the export and import activities of enterprises is provided in the article. The authors propose the ways of using the results of controlling related to export and import activities at the enterprise in order to implement business strategies and improving the information systems existing at most industrial enterprises through the creation of the structure of controlling.

Theory and practice of controlling at enterprises in international business

This paper considers some of the barriers in implementing the RFID (radio frequency identification) technology for identifying, locating, tracking and tracing goods in supply chains, along with a model for adopting cloud services that can mitigate these obstacles in the transitional environment. The analysis is based on the assessments of the implementation impediments, given by the experts in the field of logistics: university professors, assistants and entrepreneurs from three Western Balkan countries (Montenegro, Serbia, and Bosnia and Herzegovina). Since the professionals’ assessments are influenced by their experiences from the transitional economies, which are faced with limited abilities to invest in expensive business information systems, the main hypothesis is that moving the logistics into the cloud may resolve or at least alleviate the considered problems. On the basis of the available secondary literature resources on pros and cons of RFID implementation into supply chains, and the statistical analysis of the consciously completed questionnaires in the survey, the model for adopting cloud services for providing RFID-enabled goods and related activities in the considered economies is proposed at a logical level. The paper also gives some directions for further research work in this domain.

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Challenges of Tagging Goods in Supply Chains and a Cloud Perspective with Focus on Some Transitional Economies

Private initiative in an environment of well protected property rights and a good legal system, high quality performance of institutions, clear rules of the game, consensus building capacity of the society regarding the importance of economic freedom can bring in significant differences in economic development between particular countries. During the period of the post-socialism transition, the whole system of inhibiting institutional and other factors has caused the dysfunctional conglomerate system. The effect was synergetic, destructive, and anti-development. Two decades of intense crisis, with all the accompanying events, has not been sufficient warning to holders of (vulgarised neo-liberal) economic policy in the post-socialism states that something is wrong and that the anti-development model ultimately needs to be changed. This paper discusses the causes and conditions that have disabled the pluralistic and even monistic acting of economic institutes in the practice of transitional countries and have led to their objective substitution by the quasi-institutes and meta-institutes of a sociopathological nature. It emphasizes the primary significance of institutionalization for economic policy, as well as the negative effect of pseudo-institutes on economic policy and the valorisation of economic resources. In addition, the article provides evidence that monistic pseudo-market reforms in the period of post-socialist transition have not succeeded in compensating for a vast institutional vacuum, and that they have even led to its spreading and turning into a quasi-institutionalization, and institutional nihilism. The paper explains that the institute of civil society as an instrument of people protection from the government doesn't work universally. It's denied by variety of national, corporate and informal groups ("elites"), which are superior in wealth and power and limiting the individuals. Uncontrolled power centers abuse Institute of state regulation and, paradoxically and ironically, preach and conduct marauding ideology of neo-liberalism as an institutional monism. We start from the hypothesis that the institutional nihilism is the main cause of unsuccessful post-social transition and anti-development and vulgarized neo-liberal economic policy. We also start from hypothesis that the neo-liberal myth about "mini" state was the interest cover by privileged individuals for their promotion and choice implementation, which reduced the choice of the vast majority of people, and therefore denied their (propagated) economic freedom, competion, private property and entrepreneurship as a mass phenomenon.

/pdf/institutional-nihilism-as-a-basis-for-anti-development-fxvd7t534l.pdf

Mimo Drašković

Papers

The Concept of Sustainable Regional Development - Institutional Aspects, Policies and Prospects

Preference of institutional changes in social and economic development

Theory and practice of controlling at enterprises in international business

Challenges of Tagging Goods in Supply Chains and a Cloud Perspective with Focus on Some Transitional Economies

Institutional Nihilism As A Basis For Anti-Development Policy