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Recent research on financial market development has focused on the nature of the legal system. The law and finance literature, however, exclusively focuses on the abuse of management power as a major cause of shareholder expropriation. We examine the role of the administrative capability of the state in providing and guaranteeing the institutional foundations for financial market development. The characteristic feature of bureaucracy is predictable, calculable and methodical performance. Our analysis of the linkage between bureaucratic quality and financial market development confirms our hypothesis that arm's length finance not only needs a reliable legal environment, but also bureaucratic effectiveness (1) We provide evidence that state bureaucratic performance plays a crucial role in determining financial market development; (2) We find that legal origin plays an indirect role, as it affects the financial market development through the channel of the quality of state bureaucratic performance, but it does not exert a direct and independent effect. [ABSTRACT FROM AUTHOR]

Many developing countries' exports tend to be highly concentrated in terms of sectors and even products. In particular, they are strongly specialized in self-contained sectors. Recent economic literature has shown that institutions contribute to explaining this pattern. In this paper, we argue that the degree of self-containment itself is endogenous to institutions. Ceteris paribus a given sector will therefore have different levels of interactions with the rest of the economy across countries depending on the quality of institutions. We provide supportive evidence using a simultaneous equation approach on data on sectoral trade, country-specific input-output linkages, and institutional strength. [ABSTRACT FROM AUTHOR]

This paper examines the distribution of economic research as catalogued in the Journal of Economic Literature across countries of the world and attempts to explain those patterns. We report the number of articles published on each country and estimate a series of regressions to understand this pattern. We find that measures of a country's size (physical and economic), connections with the outside world and data availability explain much of the pattern of research. We also find that tourism receipts, whether English is an official language, and the number of economic research institutions are significantly correlated with the amount of research done on a country. After controlling for all the variables, we find only three regions (all in Africa) with significantly less research published by economists in Journal of Economic Literature cataloged articles than North America. [ABSTRACT FROM AUTHOR]

Comments on David Laband and Robert Tollison's (2003) analysis of the productivity of economic research. Suggestion that the increased investment made in economic research since the mid-1970s has gone to reward rent-seeking and is therefore wasted; Failure of the evidence to support the hypothesis; Investment in research and the proportion of dry holes; Determination of how often a paper is cited during the five years immediately following its publication.

Lists books on economics, featured in the August 2002 issue of the periodical 'Kyklos.' 'Toward a Comparative Institutional Analysis,' by Aoki Masahiko; 'Modeling Aggregate Behavior and Fluctuations in Economics. Stochastic Views of Interacting Agents,' by Aoki Masanao; 'Free Trade Today,' by Bhagwati Jagdish.

Lists the books received by the periodical 'Kyklos,' as of March 2002. 'Barclays: The Business of Banking 1690-1996,' by Margaret Ackrill and Leslie Hannah; 'Fragmentation. New Production Patterns in the World Economy,' edited by W. Arndt Sven and Henryk Kierzowski; 'Money, Income, Prices in 19th Century India. A Historical, Quantitative and Theoretical Study,' by P.R. Brahmananda.

Presents several books on economics. 'The European Economy 1914-2000, Fourth Edition,' by Derek H. Aldcroft; 'The Politics and Economics of Park Management,' by Terry L. Alderson and James Alexander; 'Information, Corporate Governance, and Institutional Diversity. Competitiveness in Japan, the USA, and the Transitional Economies,' by Masahiko Aoki.

Comments on the article 'Spiethoff, Schumpeter und Das Wesen des Geldes,' by Bernd Kulla published in the Volume 42 issue of 'Kyklos.' Reason for the fluctuations in fixed investments should fluctuate in a changing world; Existence of mutual respect between persons with opposing views; Scholars presented varying stands on economic matters.

Presents the editorial policy of the periodical 'Kyklos,' an economics review.

Focuses on the theory of economic policy. Contributions of economist Bruno Frey on the field of economics; Representation of the concept of economic policy in several economic literature; Impact of research on economics.

Lists the contributing authors to the June 1975 issue of the 'Kyklos' journal.

Replies to the comments made by Thomas Mayer (2004) regarding the productivity of economic research. Optimal rate of scientific exploration and little evidence of socially efficient investment, at least with respect to economics; Technical issues raised by Mayer; Increased production of highly-cited papers.

Presents the editorial policy of the economics magazine 'Kyklos.' Advantages of publication; Roles of referees and editors; Decrease in the overall length of time between writing and publication of an article.

The article presents the editorial policy of KYKLOS, one of the best ranked general economics journals in Continental Europe. A refereed economics review, the journal provides significant advantages to the authors, apart from the high quality and wide publicity. In accepting manuscripts for publication, based on the referee reports, the editors decide whether the paper is, in principle, suitable for publication.

The article provides an overview of the editorial policy of the economics journal "Kyklos." It discusses the process that a paper goes through from initial submission to final acceptance. It discloses that the journal keeps the backlog of accepted papers at a minimum. Once a paper is accepted, it is normally printed within half a year. It claims that the overall length of time between writing a paper and having it published is considerably less than with other journals.

The article offers hints for prospective contributors of the economics journal "Kyklos." It lists the type of contributions that the editors of the journal prefer. Included among these preferences are papers that analyze a topic in an original way and papers that go beyond the boundaries of prevailing economics.

Presents the editorial policy of the economics journal "Kyklos". Editors' responsibility of deciding whether the paper is in principle suitable for publication in "Kyklos"; Limited role of the referees; Revision of the manuscript; Overall length of time between writing a paper and its publication; Readership and circulation in Europe, North America and in other parts of the world.