by József Tóth The coordination plays central role in the economics. The conventional economic theory looks at the market and enterprise (or hierarchy) as two different, separated manner of coordination of economic goods and services. However the modern organization theory, price theory and institutional economics show that different types (not only…
THE INSTITUTIONAL DETERMINANTS OF BILATERAL AGRICULTURAL AND FOOD TRADE
by Štefan Bojnec and Imre Fertő The paper investigates the effects of the institutional determinants on trade in agricultural and food products among the OECD countries using a gravity model approach. We focus on the impact of the quality of governance and the similarity of institutions in explaining variation in bilateral…
ROLE OF INNOVATIONS AND KNOWLEDGE – INFRASTRUCTURE AND INSTITUTIONS
by András Nábrádi There is a well known saying: Research converts money into knowledge, innovation converts knowledge into money. The knowledge-based economy has four pillars: innovation, education, the economic and institutional regime, and information infrastructure. Transformation towards a knowledge-based economy will necessarily shift the proportion and growth of national income derived…
THE POLITICAL ECONOMY OF AGRI-ENVIRONMENTAL MEASURES: AN EMPIRICAL ASSESSMENT AT THE EU REGIONAL LEVEL
by Danilo Bertoni & Alessandro Olper The paper deals with the political and economic determinants of EU agri-environmental measures (AEMs) applied by 59 regional/country units, during the 2001-2004 period. Five different groups of determinants, spanning from positive and negative externalities, to political institutions, are highlighted and tested using an econometric…