After ten years of Asian crisis, it is still unclear what the roots of crises are really. This paper seeks to the explanation of the evolution of the capitalism system in Indonesia for gaining an important indication of the root of crisis as well as the future risk of crises of the Indonesia’s...

The competitiveness of enterprises depends not only on their strategies and operations but also on the macroeconomic and microeconomic environment in which they operate. The various instruments for business support can be found in industrial policies of EU member states, which were often...

Science and technology (S&T) are considered to be a central source, or at least a basic medium, of societal and industrial innovation, while innovation is conceived to basically feed the regeneration of our welfare. The suppliers of S&T in Europe as well as the users of their „products“, are...

Why are investors rushing to purchase US government securities when the US is the epicentre of the financial crisis? This column attributes the paradox to key emerging market economies’ exchange practices, which require reserves most often invested in US government securities. America’s...

A strong motivation to replace the comparative advantage theory with the competitive advantage theory is given by the significant change of the present economic conditions comparing with the old conditions that inspired the competitive advantage issues. The dynamic character of the market...

This paper constructs a model where entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We first show that aggressive development of a basic innovation by better informed...

Regional, industry, innovative and knowledge-based clusters have become popular and important policy tools to boost economic development and competitiveness at regional level. The expectations of their role is still growing as it can be seen in the statements of official documents of European...

The steps in this paper are: (1) to recall the S = I relation and its position in macro-economics, (2) to observe how this equation is very relevant again with the renewed relunctance of banks to finance investments, (3) to point out that consumer durables are investments too, (4) to highlight...

The last financial and economic crisis demonstrated the dysfunctional long-term effects of aggressive behaviour in financial markets. Yet, evolutionary game theory predicts that under the condition of strategic dependence a certain degree of aggressive behaviour remains within a given population...

The American economy has undergone a dramatic structural change in the first decade of the 21st Century. The real-economy causes of this transformation, and their expression via the real estate market and its financial derivatives’ market, and their final manifestation in world financial...