Market failures are resulting in network operators and device manufacturers not being incentivized to ensure improved cyber security practices in their operations. The result is a large global base of vulnerable computers, modems/routers and Internet of Things devices which can be manipulated by...

The formation of new firms is an important determinant of economic development and the industrial organization literature highlights agglomeration as one of the main factors affecting the formation and scale of operations of new firms. This paper is one of the first to use developing country...

While popular opinion often pictures FDI flowing in search of lowest-wage, lowest- skilled activities in emerging markets, actual FDI to such countries increasingly addresses medium to high-skilled manufacturing sectors. Such FDI might be called "Quality FDI" that contributes to the creation of...

The authors consider a symmetric model composed of two countries and a firm in each country. Firms produce the same good by means of a polluting technology which uses fossil energy. However, these firms can adopt a clean technology which uses a renewable energy having a lower unit cost....

The projected changes in planted area, yield per area, net exports/imports and priced for five major agricultural crops in South Africa were simulated using the projections of four Global Circulation Models (GCMs) under three socio-economic scenarios. The GCM runs were those undertaken for the...

Although European economic history provides essentially no support for the view that education of the general population has a positive causal effect on economic growth, a recent paper by Becker, Hornung and Woessmann (Education and catch-up in the Industrial Revolution, 2011) claims that such...

A general theoretical and empirical framework is developed for assessing the potential of a vertically integrated firm to foreclose downstream competitors. Using this framework a policymaker may also evaluate the empirical welfare effects from a vertically integrated firm raising rivals' costs....

This paper introduces an alternative to the lobbying literature's standard assumption that "money buys policies". Our model - in which influence-seeking requires both money to "buy access" and managerial time to "utilize access" - offers three significant benefits. First, it counters criticism...

Most growth theorists agree that understanding the economics of innovation and technological change is central to understanding why some countries are richer and/or grow faster than other countries. The driving force behind recent developments in endogenous innovation models of growth is a...

In order to investigate the effectiveness of science and technology industrial parks (STIPs), this study examines data on high-tech firms within and outside the STIPs in China, while paying special attention to the issues related to agglomeration and congestion. The main finding is that the...