This study investigates China’s tedious but patient path to development. Starting with the milestone year 1985, China’s first major step was to completely reform its science and technology (S&T) management system. This was followed up with the implementation of an ambitious long-term...

In this paper we present a vision for the course Europe should take in its research and higher education policies in order to fully live up to the expectations of its citizens to provide a safe, comfortable, affluent and sustainable environment in this period of considerable financial restraint...

This paper proposes that economic development can fruitfully be understood as an evolutionary process, in the sense that it involves the introduction to the economy of many new ways of doing things, a good portion of which fail, with the ones that survive providing the basis for the next round...

The Ministry of Economic Development ran a series of seminars about economic growth in 2004. One was an economic history of economic growth in New Zealand, three were on different and sometimes contradictory conceptual ways of thinking about economic growth – endogenous growth theory, Austrian...

Economic development presumes not only the existence of formal institutions such as property rights and the rule of law under which behave economic agents, but also certain norms or social values that promote exchange, savings and investments. In this context, we discuss cultural dimension of...

The characterization of firm-specific return volatility as the intensity with which firm-specific events occur reconciles many seemingly discordant results. A functionally efficient stock market allocates capital to its highest value uses, which often amounts to financing Schumpeterian creative...

The spread of Information and Communication Technology (ICT) has started around a decade ago. This development carries the potential to substantially transform labor markets and employment, especially in countries with a low level of economic infrastructure. ICT has already created numerous new...