In this paper, it is shown that the concept “economic imperialism” has no real content with epistemological point of view: there is no evidence of using specific economic methodology in areas of other social disciplines. Economics is in a permanent crisis caused by the impossibility to...

The theory of institutional traps, i.e. ineffective but stable institutions or behavior norms, is develope din connection with economic reforms. Mechanisms are described that cause a system to get into a trap and ways of going out of it are analyzed. Concepts of transformation costs and...

In our previous papers (Polterovich V., Popov V., 2007; Polterovich V., Popov V., Tonis A., 2006) it was shown that democratization (increase in the political rights index of the Freedom house in 1970-2000) can negatively affect economic growth, if the quality of institutions at the beginning of the...

Abstract The article deals with the basic elements of a rational strategy of economic development of Russia in the modern circumstances. The analysis shows that the current state of confrontation between Russia and the United States will last long enough. Trying to shorten the period of forced...

The concepts of absorptive capacity and innovative capability have been introduced to describe abilities of a country to imitate and, accordingly, to create more advanced technologies. In this paper we suggest new indicators of these two abilities. To calculate them, we develop an endogenous...

Contractual savings for housing (Bausparkassen) with narrow ranges of tariff plans are used to coexist with banking hypothec, providing consumers a binary choice . We propose to form systems (lines) of savings and loan tariff plans (SLTP) for bank accounts «linking» these two mortgage...

In this paper I argue that the Theory of Reform may be considered as a comparatively new but intensively forming chapter of Economics. In spite of great variety of concrete reforms, the problem of institutional reforming admits general formulation and general approaches of solving it. I discuss...

This paper is based on the author’s lecture given at the Russian Summer School on Institutional Analysis 2007, organized by the State University — Higher School of Economics with the financial support of Innovation educational program. The author defines a reform as an intentional...

This paper analyzes economic policies in resource rich countries and various mechanisms of resource curse leading to a potentially inefficient use of resources. Arguments are provided in favor of "conditional resource curse" hypothesis: resource abundance hampers growth if institutions of a...

One of the main obstacles for successful economic development is the formation of institutional traps, inefficient yet stable norms of behaviour. Domination of barter exchange, arrears, corruption and black market activities are examples of institutional traps that have hampered reforms in...