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The purpose of this paper is to shed more light on the effects of changes in quality of economic, legal and political institutions on income inequality in the advanced countries over the last two decades. Using the robust panel model on a sample of 21 OECD countries, it is found that the impact of elitization of society is more pronounced than the impact of unionization on income redistribution, but both effects are less expressed in comparison to the influence of institutional changes on redistribution. In a globalized economy, insufficient redistribution and high inequality might be interpreted as the consequence of institutional inertia to disruptive technological and business changes. [ABSTRACT FROM AUTHOR]

This article explores the global social–economic impact of shale gas extraction, comparing the differing social and economic impacts shale gas extraction may have on communities in developed and developing countries. It argues that the benefits of fracking are more likely to be enjoyed by communities in highly and very highly developed countries rather than by those in countries with low or medium levels of development . Additionally, it shows that the potential risks and drawbacks of shale gas and its extraction are more likely to be experienced by communities in these latter countries than by those in highly or very highly developed countries. However, it also demonstrates that even communities in developed countries are vulnerable to environmental and health risks associated with shale gas extraction. [ABSTRACT FROM PUBLISHER]

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The determinants of non-life insurance expenditure in a panel data set covering 36 developed countries and 31 developing countries for the period 2000–2011 are analysed. Results of our instrumental variable analysis indicate that economic freedom, income, bank development, urbanization, culture and law systems are the key drivers of the non-life insurance expenditure across countries. However, their impacts differ significantly between the groups of developed and developing countries, suggesting that the heterogeneity among countries in terms of the level of development plays an important role. The global financial crisis is also found to influence the direction of those effects, especially in developed countries. The article yields useful policy and economic implications for governments and multinational non-life insurance companies with regard to the development of the non-life insurance sector, an important engine for economic growth and prosperity. [ABSTRACT FROM AUTHOR]

This paper investigates the relationship between the diversification of export products in least developed countries (LDCs) and their services production and exports. It uses a dataset comprising 30 LDCs over the period 1995-2010. The empirical results suggest strong evidence that export product diversification in LDCs is a catalyzer for their commercial services exports, alongside factors such as per capita income, foreign direct investment (FDI), and regulatory quality policies. However, export products diversification does not appear to exert a significant effect on LDC services production. These findings have important implications for both the international trade community and LDC governments. [ABSTRACT FROM AUTHOR]

Summary Using data from the Global Entrepreneurship Monitor (GEM), we examine data from developed and developing countries to estimate the “growth penalty” over 2003–11 when a country’s entrepreneurship deviates from its optimal level. We account for heterogeneity among countries in the optimal entrepreneurship rate, in the growth penalty from deviating from that optimum, and in other factors affecting growth. Notwithstanding that developing countries have more of their population running nascent small firms than in developed countries, a marginal increase in the entrepreneurship rate in developing countries has a positive effect on growth. On the contrary, in developed countries, there is no evident growth penalty. Supplemental results suggest that is because in developed countries as a whole, entrepreneurship is now close to its optimal level, whereas in developing countries the optimal rates of entrepreneurship are much higher. We also explore how the growth penalty varies with characteristics of the country, allowing us to test theories regarding the relationship between entrepreneurship and growth. We show that higher levels of R&D capability decrease the growth penalty of having too few entrepreneurs, suggesting that entrepreneurship and R&D are substitutes. Availability of venture capital also increases the growth penalty, but only in developing countries, where our data on venture capital best proxy its availability to start-ups. [ABSTRACT FROM AUTHOR]

The importance imposed on corporate social responsibility (CSR) is greater in developed economies than in emerging markets. The pressures from various stakeholder groups on the CSR are expected to have substantial spillover impact on companies domiciled in emerging economies that obtain revenues from companies in developed economies. Based on the data from 1,330 listed companies in China, the largest emerging economy in the world, this study provides evidence that the CSR performance of China firms is positively related to the degree of their internationalization, and such a positive association is less pronounced for state-owned enterprises. Our findings support the hypothesis that internationalized companies in emerging economies are motivated to improve their CSR practices to address concerns from their importers or outsourcers in developed economies. [ABSTRACT FROM AUTHOR]

Copyright of Management (1429-9321) is the property of University of Zielona Gora and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines the compositional changes that occur in economies experiencing current account reversals using sectoral-level data on output and employment growth around 55 reversal episodes. The experiences of developing and industrialized countries are compared, and the role of currency crises is also examined. Labor market adjustment following reversals in developing countries is shown to differ from that of industrialized economies. The possibility that this difference is related to labor market informality is briefly examined. [ABSTRACT FROM PUBLISHER]

Rural tourism in Romania is growing, but must be supported by various actions to align standards held by developed countries. North West of Romania's tourism potential is complex and natural and anthropogenic valuable, which is the premise, the fundamental factor and the offer in promoting rural area. The case study followed the evolution of tourism indicators (number of accommodation structures, accommodation capacity, number of arrivals and the number of overnight stays, average length of stay) for the period 2006-2013. These indicators were correlated with two other statistical indicators related to rural population (population, migratory movement of population and employment rate of rural population, grouped by age). [ABSTRACT FROM AUTHOR]

This paper aimed at comparing the well-being of children across the most economically advanced countries of the world while discussing the methodological issues involved in comparing children's well-being across countries. A Child Well-being Index was constructed to rank countries according to their performance in advancing child well-being. The Index used 30 indicators combined into 13 components, again summarised in 5 dimensions for 29 rich countries. Data from various sources were combined to capture aspects of child well-being: material well-being, health, education, behaviour and risks, housing and environment. The scores for the countries on all variables and combinations of variables were discussed in detail. The Child Well-being Index revealed that the Netherlands and the Scandinavian countries (excluding Denmark) did relatively better than the other countries while Romania and the United States performed well below the average. Overall, serious differences existed in child well-being across countries suggesting that in many, improvement could be made in the quality of children's lives. [ABSTRACT FROM AUTHOR]

We examine the effect of domestic political accountability on leaders' strategies for attracting foreign direct investment to less developed countries. We consider two policy areas: the tax burden imposed on firms and the regulatory environment in which they operate. We find that democratic governments are more likely to offer relatively lower tax rates to foreign investors, whereas autocratic governments are more likely to offer relatively lax regulation. This result is driven by the greater elasticity of the political survival function to environmental and labor regulations in more democratic countries. Analyses of firm-level survey data confirm our main theoretical conclusions. [ABSTRACT FROM AUTHOR]

The role of innovation on growth has been analysed to some extent and has been relying mostly on research findings undertaken in developed countries. The aim of this paper is to analyse whether innovation has any role at regional level for potentially explaining the variations in growth among regions, particularly in developing countries. The paper draws upon previous work and to undertake the research, data available from the Enterprise Survey was used to test the potential impact of innovation on economic growth at regional level. The results showed that innovation affects growth using a sample for Romania. This study can constitute the basis for understanding the concept of innovation in relation to regional economic growth and further research in Romania and beyond. [ABSTRACT FROM AUTHOR]