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Reviews science and technology policymaking in five countries with free-market economies: the United Kingdom, Germany, France, the Republic of Korea, and the United States. Implications for eastern European and other countries currently reorganizing toward domestic market economies and greater orientation toward world trade are discussed. (61 references) (LRW)

Discusses the roles academic and public libraries can play in the process of economic restructuring and development. A business school library in Hungary is described, and its role in economic restructuring and the education of future managers is discussed; and the role of public libraries in the United States is examined. (four references) (LRW)

The composition of economic growth can be analyzed in two different ways. In the ‘traditional method’ for the decomposition of GDP growth, total imports are deducted from exports. This approach underestimates the importance of exports for the growth in GDP, and overestimates the importance of domestic expenditure categories. In the alternative methodology proposed in this paper, imports are allocated to all expenditure categories. Although this ‘import-adjusted method’ is more complex than the ‘traditional method’, it has the considerable advantage that the contributions of the expenditure categories to GDP growth provide a better understanding of why GDP growth decelerates or accelerates. The methodology and data requirements for calculating the import content of final demand, and the implications for the decomposition of real GDP growth, are discussed. For six European countries and the United States, the paper shows that applying the alternative methodology provides rather a different economic story. [ABSTRACT FROM AUTHOR]

Electric energy plays a pivotal role in the global economic development, hence the developing countries have inadequate electricity supply compared to their developed counterparts. Inadequate access to electricity hinders development in Nigeria and the most substantial efforts towards tackling the electricity deficit commenced with the enactment of the Electric Power Sector reform Act, 2005 (EPSR Act) which aims at privatizing the industry. This paper attempts to critically examine the implementation strategies of the Act vis-a-vis the challenges being faced in bridging the reliable supply gap compared with the developed electricity markets of Europe and United States of America (USA).With emphasis on the transmission and system operation subsector, the paper draws lessons from the United Kingdomand the USA; concluding that privatization of the Nigerian electricity industry is the way to a sustainable and more efficient reform. [ABSTRACT FROM AUTHOR]

Purpose - Over the past decade telecommunications media and technology (TMT) has driven a new era that has evolved into the digital age. There is a growing consensus in developed countries that TMT is the most important driver of economic and social development for a society. Its genesis began in the USA and its cultural preference for market-based development set the framework for national policy and development. Recently the formation of convergence regulators amongst many of the leading nations has begun another episode. This article aims to explore and build upon a research study of the senior executives of six of the leading convergence regulators in Asia and Europe. The article aims to analyse by way of a numeric comparison expert views of the key convergence issues three and five years out. Design/methodology/approach - A generic conceptual model was constructed of the foundation, social and economic dividend issues. By examining the relative progress of nations developments of these issues and their different approaches, new insights are developed into different regulatory approaches. Findings - The concept of proactive regulation with competition (PRC) would appear to have benefits for a number of these nations. It is hoped that these research outcomes and hypotheses will generate further research and analysis amongst the world's leading regulators in order to work through the best regulatory approaches for the current challenges. Originality/value - The paper presents original research regarding regulatory challenges. [ABSTRACT FROM AUTHOR]

We construct a simple endogenous growth model to analyse the relationship between the composition of fiscal policy, economic growth and employment. The government sets different tax rates on labour income, capital income, and private consumption to finance productive expenditures, utility-enhancing consumption expenditures, and transfers related to structural non-employment. Our model is able to explain the different employment and growth records of European Countries and the US since the 1990s. We use the model to investigate the strength of the effects of various fiscal policy shocks on steady state employment and growth. We also develop the transitional dynamics for many variables, including welfare. Our results highlight the trade-offs that may occur between performance indicators, and between the short and the long-run. [ABSTRACT FROM AUTHOR]

Purpose - The paper seeks to analyse the impact of different public policies on inequality, unemployment, growth and the tax burden. Design/methodology/approach - A dynamic general equilibrium model is built, in which growth is driven by endogenous technical progress, to analyse the impacts of several policies (minimum wage, redistribution and R&D subsidies financed by an income tax). Findings - All policies except pure redistribution are better than non-intervention in terms of growth. The authors distinguish three major policy patterns. The Anglo-Saxon model is characterised by high growth, high inequality, low unemployment and a low tax burden. The Nordic model combines high growth, low inequality and low unemployment, and a high tax burden. The Continental European model puts together medium inequality and a medium tax burden, and higher long-term growth is paid for by high unemployment. Research limitations/implications - The model could be extended by the introduction of educational policy. Originality/value - The paper distinguishes three configurations that capture the main features of the developments in Anglo-Saxon countries, Scandinavian countries, and Continental European countries in the 1990s. It thereby provides a general framework to analyse and compare these experiences. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to shed light on the controversial issue of regional development incentives. Although extensive research has been conducted, a review of the literature gives an inconclusive answer to whether economic incentives are effective. Why do researchers arrive at different conclusions, even after analysing the same programmes? Among the problems that we find, for example, is the fact that for some researchers ‘effective’ means the significant location of new firms in targeted areas, while for others the creation of jobs regardless of whether new firms are arriving in a significant fashion. Furthermore, as we elaborate, the selection of an econometric model will have a significant impact on expected results. Different models, with different limitations, will lead researchers to evaluate the same incentive programme but arrive at different conclusions regarding its effectiveness. The contribution of the paper is to inform policymakers about the potential opportunities and pitfalls when designing incentive strategies. This is particularly relevant, given that both the US and Europe have been promoting incentives as a tool for regional economic development. [ABSTRACT FROM AUTHOR]

The tech stock crash of 2000 discredited the new economy as business model. This article introduces a journal special issue which takes up the challenge of putting new economy developments into this post-crash perspective and establishing long-run continuities, without discounting the importance of what happened. This article opens the debate by highlighting two themes in the articles that are collected together in the special issue: first, it discusses what was and is the new economy in the USA; second, it examines the relevance and resonance of the new economy in Europe. [ABSTRACT FROM AUTHOR]

This special issue addresses hydraulic fracturing for shale gas extraction as an interpretive policy problem. Bringing together empirical cases from the U.S.A., the Netherlands, the U.K., Poland, and Germany, we identify three approaches to the interpretation of hydraulic fracturing in the article: understanding its meaning, contextual explanation of the institutionalization of its meaning, and policy design as intervention to alter its meaning. By exploring differences and similarities across these cases, we identified two central tensions in the meaning of shale gas in all cases: (1) economic opportunity or environmental threat and (2) transition toward a more carbon-free energy future or perpetuation of a fossil fuel system. We found that when actors shift the meaning of hydraulic fracturing to consider it predominantly an issue of threat, this explains the dominance of risk governance as an approach to managing the controversy. Alternately, when the meaning of fracking shifts from consideration as an economic opportunity or a bridge fuel to consideration of it as a barrier to an energy transition, this explains the decision to ban fracking. Therefore, a comparative assessment of the papers demonstrates the ways interpretive dimensions of politics can influence the governance of public policy. [ABSTRACT FROM AUTHOR]

Countries differ with regard to labour-market flexibility and 'animal spirits' of entrepreneurs. The paper aims at an analysis of the consequences of these differences in a climate favourable to economic growth. For that purpose a two-country model is presented in section 2. Although wealth variables are taken into account, expectations are assumed to be static. Despite this simplification the model cannot be solved analytically. The role of a dynamic region (USA) versus a more passive region (Europe) is therefore studied by working through numerical examples. [ABSTRACT FROM AUTHOR]

The paper offers some reflections on the convergence of productivity in the United States and Europe, which essentially stopped in the 1990s. It argues that the barriers preventing further convergence in the early 1990s were removed subsequently. But since then trends in productivity growth have been importantly affected by the advent of the New Economy, which poses further challenges for Europe. Without additional reform of European labor markets, financial markets, and university systems, we may be on the eve of another era of persistent divergence. [ABSTRACT FROM AUTHOR]

Building upon the companion paper in this issue, this essay analyses five case studies that can be taken as prototypes of the system-wide cultural district culture-led developmental model. The research targets five cities in Europe and the U.S.: Valencia, Austin, Newcastle/ Gateshead, Linz, and Denver. Each presents specific characteristics but also some deep, structural common traits. The case studies are compared and their future viability is evaluated in terms of the factors presented in the companion piece. [ABSTRACT FROM AUTHOR]

This paper discusses a complex process of aid oriented towards taming the Colombian conflict. We show that, despite the grand declarations provided generously by all actors involved, there has been much strategic manoeuvring and inconsistency. We describe how Colombian decision makers made a transition from the intent of establishing peace as a nationalist programme to the effort of internationalising war. However, the transition interacted with - and was somewhat dampened by - the set of constraints they faced. A very important part of these constraints was related to the choice, when seeking key international partners, between the United States and Europe. Donors, at the same time, had their own objectives and constraints, and frequently promoted lines of action that were at odds with their stated objectives. At the same time, the analysis suggests that despite - and sometimes even because of - these limits some windows of opportunity for positive developments have been opened. [ABSTRACT FROM AUTHOR]

This paper uses a game theoretic model to explain empirical research which has revealed higher relational satisfaction among married couples than cohabiting couples, as well as among married couples who did not cohabit before marriage. Despite these findings, in recent decades cohabitation rates have dramatically increased in both Europe and the United States. Instrumental variables estimations on data from 28 industrialized countries and 50 U.S. states show cohabitation strongly correlated with increases in women's labor force participation, where a 10 percent increase in women's labor force participation results in a 6.4 to 14.6 percent increase in cohabitation. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to investigate the sources of economic growth in Japan and in compare the results with those in the U. S. and Europe as studied by E. F. Denison. The method used by Denison is followed as far as possible. The character of this paper is of fact finding, and the interpretation of results or the originality of methodology is not dealt with here. The results may be summarized as follows. (1) Japan's growth rate is two times that of Europe and three times that of the United States. (2) The contributions of labor, capital, and the residual to economic growth are all higher for Japan than for the U. S. or Europe. (3) Factors which account for the higher contribution of labor to economic growth are (a) the higher rate of increase in employment, (b) less shortening of working hours, and (c) improved age and sex composition. (4) Factors which account for the higher contribution of capital to economic growth are a higher rate of increase in capital input and the high elasticity of production with respect in capital. (5) Other notable points include: (a) the contribution of education is lower for Japan; (b) the capital-labor ratio in Japan increased remarkably; (c) capital's share of national income is higher; and (d) 60% of Japan's economic growth is accounted for by the residual. [ABSTRACT FROM AUTHOR]

The article presents information about the book "Europe, America, and the Wider World: Essays on the Economic History of Western Capitalism," vol. 2, "America and the Wider World," by William N. Parker. This book consists of fifteen research papers which discuss the European influence on American culture and compare the American and European experiences of modern economic growth. The book examines the South in slavery and in freedom, and the capitalist dynamics of the rural North.

During the last 2 decades, Europe's economy experienced a productivity slowdown whereas the United States (US) economy exhibited a marked acceleration. The result is that since the early 1990s the relative productivity levels between the two regions have continuously diverged, leading to a transatlantic productivity gap. Much of the explanation for this is the strong performance of the US in the so-called 'new economy' or 'knowledge economy' and in particular the underinvestment in R&D, and as a result, productivity and innovation has been at the forefront in the European Policy agenda. However, various explanations for the US-European Union transatlantic productivity gap suggest that the picture is rather more complex than simply the effects on, or the result of, particular technology-driven sectors. [ABSTRACT FROM AUTHOR]

Productivity is a key driver for economic growth and prosperity in any country. The pursuit of productivity growth requires an understanding of the factors affecting productivity. The trend of productivity growth, along with the possible factors underlying such growth across Europe, the US and Japan, is thus examined. In particular, there is a focus on comparing the productivity performance of the construction sector to that of other industries. Using the recently released EU KLEMS1 database,2 a growth accounting framework was adopted to assess the contribution of the following factors to productivity growth (during 1971-2005): capital, labour quality and total factor productivity (TFP). It was found that there is a general slowdown in labour productivity growth in total industries including construction across major OECD countries, with the exception of the UK. The differences in labour productivity growth between construction and total industries can be largely explained by construction's poor TFP performance. With the exception of the UK, TFP negatively contributed to labour productivity growth in the period 1990-2005, suggesting that the industry has become less efficient in combining the factors of production. That phenomenon seems to be consistent across all selected countries and warrants further investigation. Indeed a better understanding of the factors underlying productivity growth in OECD countries is a prerequisite for effective intervention of policy makers to support sustained productivity growth. [ABSTRACT FROM AUTHOR]

Abstract: Despite increased efficiency in the use of natural resources, the use of these resources continues to increase in most societies. This paper examines the discrepancy between the potential decrease of use of natural resources, as an effect of increased efficiency, and actual use. During the period 1960–2002, this difference was found to grow faster in the USA than the mean for six West European countries. Possible reasons for this difference between the two regions are analysed. To reduce the anthropogenic flows of energy and material, and the consequent deleterious effects on the biosphere, it will become necessary to adapt consumption to degree of efficiency in the use of natural resources. Based on the comparison between the two regions, some economic aspects of this issue are discussed. [Copyright &y& Elsevier]

In this paper, we develop a model of technology adoption and economic growth in which households optimally obtain either a concept-based, "general" education or a skill-specific, "vocational" education. General education is costly to obtain, but enables workers to operate new production technologies. Firms weigh the cost of adopting and operating new technologies against increased profits and optimally choose the level of adoption. We show that an economy whose policies favor vocational education will grow slower in equilibrium than one that favors general education. More importantly, the gap between their growth rates will increase with the growth rate of available technology. By characterizing the optimal Ramsey education policy we also demonstrate that the optimal subsidy for general education increases with the growth rate of available technology. Our theory suggests that European education policies that favored specialized, vocational education might have worked well, both in terms of growth rates and welfare, during the 1960s and 1970s when available technologies changed slowly. However, in the information age of the 1980s and 1990s when new technologies emerged at a more rapid pace, they might have contributed to an increased growth gap relative to the United States. [ABSTRACT FROM AUTHOR]

The telecommunication industry has experienced significant growth and consolidation in the last decade. The desire of large, multinational customers to obtain fully-integrated, end-to-end global telecommunications services from a single source pushed telecom firms to offer multiservice broadband and seamless worldwide telecommunications networks. However, a major barrier to achieving this goal is the significant capital required to construct and deploy a global network. To overcome these constraints, telecom companies typically adopt approaches like--mergers and acquisitions (M&A), joint ventures, legal partnerships and strategic alliances. As the marketplace continues to grow globally, convergence among major enforcement authorities on fundamental competition principles, such as the role of efficiencies, will be critical. The treatment of efficiencies is however controversial and poses many questions. This research paper explores some of the efficiencies-based motivations and rationales for Telecom M&A. It reviews the procedures and regulatory authorities responsible for telecom merger review in the U.S., Europe and Canada. It also examines the treatment of efficiencies in the context of merger review in three jurisdictions and finally it discusses some of the outstanding policy issues related to treatment of efficiencies.

This paper analyses the sources of U.S. labour productivity growth in the late 1990s and presents projections for both output and labour productivity growth. We show that investment in information technology (IT) played a substantial role in the U.S. productivity revival and that similar trends are evident in data for other leading OECD countries. We then outline a methodology for projecting trend output and pro-ductivity growth for the broadly defined U.S. economy. Our base-case projection puts trend productivity growth at 1.78 percent per year over the next decade with a range of 1.14 to 2.38 percent, reflecting fundamental uncertainties about the rate of technical progress in IT-production and investment in IT-equipment and software. Our central projection is below the average growth rate of 2.07 percent during 1995 -2000. Similar projections for Europe must await more complete information. (JEL J2). [ABSTRACT FROM AUTHOR]

In the First World countries, the industrial evolution of the developing countries is observed with concern. The are considered a strong competence in the international marked and the are held responsible for the decreasing life standard in the United States and in Europe. This is the reason to consider restrictions of the commercial relations which could limit also the Third World productivity. Paul Krugman, a professor of economics at Stanford University en Palo Alto, California, is convinced that this fear doesn't have any real base. He argues, supported by a sequence of models, which present the economic relations between the First and the Third World, that the developing countries really don't influence on the life standard or the developed countries. It shouldn't be necessary to impose import retrictions which only would hinder the economic growth of the Third World nations, and therefore the hope for a decent life standard of millions of human beings who live today in conditions of absolute poverty. Agreeing completely with the author's goals, I present here a critical discussion of the respective paper. My critics are mainly directed to the model's structure. I believe that one can use more realistic structures without modifying Krugman's final final conclusions. Some suggestions are made in this sense. [ABSTRACT FROM AUTHOR]

The concepts of σ-convergence, absolute β-convergence and conditional β-convergence are discussed in this paper. The concepts are applied to a variety of data sets that include a large cross-section of 110 countries, the sub-sample of OECD countries, the states within the United States, the prefectures of Japan, and regions within several European countries. Except for the large cross-section of countries, all data sets display strong evidence of σ-convergence and absolute β-convergence. The cross-section of countries exhibits σ-divergence and conditional β-convergence. The speed of conditional convergence, which is very similar across data sets, is close to 2% per year. [ABSTRACT FROM AUTHOR]

Considerable attention has been devoted in the past to the methodological issues involved in the measurement and explanation of economic growth. Following the method pioneered by Denison and applied by him to the United States and Western Europe, comparative studies have been made of various other countries; that for Japan is of special interest. The present paper extends the analysis to the Soviet Union. In order to preserve comparability, the analysis follows the Denison methodology exactly, and compares the results with those for the United States, Northwest Europe, and Japan. [ABSTRACT FROM AUTHOR]

The use of aggregate production functions of the Cobb-Douglas type to explain the sources of growth and of differences in growth rates, in recent years among eight European countries and the United States is discussed in the article. Output is related to inputs of labor and capital, together with a residual not accounted for by these factor inputs, whether measured conventionally or in efficiency units. Until recently such procedures, when applied to European countries, required the use of balance-sheet data to measure capital, but ignorance of prices and valuation methods implicit in such data has been a serious weakness. Thanks mainly to the enterprise of economists Simon Kuznets, Moses Abramovitz and their co-workers, supported by the Social Science Research Council, historical series on gross investment have recently become available for some European countries. Despite uncertainties surrounding deflation procedures and the paucity of data for estimating useful lives, such capital estimates are greatly to be preferred to figures resting on balance sheet valuations. The availability of these new data prompted the present study, preliminary results of which are given in this paper.

The article focuses on the role of the telecommunications policy in the economic development of Europe and whether such development poses a threat for American businesses. The economic, industrial, and technological policies of the European Community (EC) are reviewed, and the EC's commitment to develop a telecommunications and information technology infrastructure are discussed. A SWOT analysis of the telecommunications policy is provided, and the implications of European integration for the United States telecommunication industry are considered.

Objectives The literature typically undervalues the economy-wide importance of confidence, despite a renewed interest since the recent financial crisis in considering also psychological factors such as confidence. This study empirically assesses whether confidence matters for current real GDP growth in the euro area and the United States in addition to a widely applied and reliable predictor, the Purchasing Managers' Index. Methods We add confidence indicators to a regression of real GDP growth on the composite PMI output index and check for a different impact of confidence during recessions as opposed to expansions by applying smooth transition regressions. Results Confidence matters for economic growth, both in good and bad times. This result is robust across sample periods, models, and proxies for confidence. Conclusions Confidence is essential for assessing the current stage of the business cycle. Analysts should therefore closely monitor sentiment swings, whereas private and public decisionmakers can boost growth by improving confidence in the economy. [ABSTRACT FROM AUTHOR]

VanderZwanP., VerheulI., ThurikR. and GriloI. Entrepreneurial progress: climbing the entrepreneurial ladder in Europe and the United States,Regional Studies. This study investigates which countries have the highest potential to achieve entrepreneurial progress. This progress is defined as an entrepreneurial ladder with five successive steps: ‘never thought about starting a business’, ‘thinking about it’, ‘taking steps’, ‘running a young business’ and ‘running a mature business’. The influences of individual-level and country-level variables on the progression through these stages are analysed. Data from twenty-seven European countries and the United States are used (2007 Flash Eurobarometer Survey on Entrepreneurship). Findings show that in the United States many people think about setting up a business, whereas Europeans are better at achieving higher levels of engagement. Country differences can be explained mainly by levels of risk tolerance and economic development. A country's level of administrative complexity does not play a role, but individual perceptions of this complexity are a hindering factor. VanderZwanP., VerheulI., ThurikR. and GriloI. 公司发展：欧洲与美国的公司阶梯，区域研究。本研究旨在考察哪个国家在实现创业发展中拥有最大的潜力。这一进展被定义为五个阶段：“从未考虑过创业”、“开始思考”，“迈出步伐”，“经营一个年轻的公司”，“经营一个成熟的企业”。个体层面及国家层面通过上述步骤对公司进展产生的影响进行了考察。数据来自美国与欧洲 27 个国家（2007 年对于公司看法的欧洲民意调查）。结果表明，大多数美国人在考虑开创新公司，而欧洲人更多地考虑的是如何实现更高目标上的参与。风险承受力与经济发展能够对上述国家差异进行解释。一个国家层面的管理复杂性并未发挥作用，但是个体对于上述复杂性的认知却构成了阻碍要素。 公司 决定因素 公司民意调查 公司发展 管理复杂性 VanderZwanP., VerheulI., ThurikR. et GriloI. Le progrès entrepreneurial: monter l'échelle entrepreneuriale en Europe et aux Etats-Unis,Regional Studies. Cette étude examine les pays qui font preuve du potentiel le plus élevé pour réaliser le progrès entrepreneurial. On définit ce progrès comme une échelle entrepreneuriale à cinq barreaux: ‘Je n'ai jamais pensé à créer une entreprise’; ‘j'y pense’; ‘je prends des mesures’; ‘je gère une jeune entreprise’, ‘je gère une entreprise à l’étape de la maturité'. On analyse l'influence des variables relatives à l'individu et au pays sur le progrès à chaque étape. On emploie des données auprès de vingt-sept pays européens et des Etats-Unis (provenant du sondage Baromètre Flash 2007 sur l'esprit d'entreprise). Les résultats laissent voir que beaucoup de gens aux Etats-Unis pensent à créer une entreprise, alors que les Européens réussissent mieux à s'y engager. Les différences s'expliquent dans une large mesure par les niveaux de tolérance au risque et par les niveaux de développement économique. La complexité administrative d'un pays ne joue aucun rôle, mais les idées que l'on se fait de cette complexité sont une entrave. Esprit d'entreprise Facteurs déterminants Esprit d'entreprise naissant Progrès entrepreneurial Complexités administratives VanderZwanP., VerheulI., ThurikR. und GriloI. Unternehmerischer Fortschritt: Aufstieg auf der unternehmerischen Leiter in Europa und den USA,Regional Studies. In dieser Studie wird untersucht, welche Länder das höchste Potenzial zur Erreichung von unternehmerischem Fortschritt aufweisen. Dieser Fortschritt wird als unternehmerische Leiter mit fünf aufeinanderfolgenden Sprossen definiert: ‘noch nie an Unternehmensgründung gedacht’, ‘denke daran’, ‘unternehme Schritte’, ‘leite ein neues Unternehmen’ und ‘leite ein etabliertes Unternehmen’. Wir analysieren den Einfluss der Variablen auf individueller und Landesebene auf die Progression durch diese Phasen. Zum Einsatz kommen Daten aus 27 europäischen Ländern sowie aus den USA (Flash-Eurobarometer-Umfrage von 2007 über Unternehmertum). Aus den Ergebnissen geht hervor, dass viele Menschen in den USA an eine Unternehmensgründung denken, während die Europäer bei der Erzielung eines höheren Engagementniveaus erfolgreicher sind. Die Unterschiede zwischen den einzelnen Ländern lassen sich vor allem durch das Niveau der Risikotoleranz und Wirtschaftsentwicklung erklären. Das Niveau der administrativen Komplexität in einem Land spielt keine Rolle, wohl aber sind die Auffassungen der einzelnen Personen hinsichtlich dieser Komplexität ein behindernder Faktor. Unternehmertum Determinanten Neuunternehmertum Unternehmerischer Fortschritt Administrative Komplexität VanderZwanP., VerheulI., ThurikR. y GriloI. Progreso empresarial: trepando la escalera empresarial en Europa y los Estados Unidos,Regional Studies. En este estudio investigamos qué países tienen el máximo potencial de conseguir el progreso empresarial. Este progreso es definido como una escalera empresarial con cinco peldaños sucesivos: ‘nunca pensé en abrir un negocio’, ‘lo estoy pensando’, ‘estoy preparando el terreno’, ‘gestiono un negocio nuevo’, y ‘gestiono un negocio establecido’. Analizamos la influencia de las variables a nivel individual y por países en la progresión a través de estas fases. Utilizamos los datos de veintisiete países europeos y de los Estados Unidos (Encuesta Flash del Eurobarómetro sobre el Espíritu Empresarial 2007). Los resultados indican que en los Estados Unidos muchas personas piensan en comenzar un negocio, mientras que los europeos son mejores a la hora de conseguir niveles más altos de participación. Las diferencias por países pueden explicarse principalmente por los niveles de tolerancia de riesgo y el desarrollo económico. La complejidad administrativa de los países no desempeña un papel importante pero las percepciones individuales de esta complejidad representan un factor obstaculizador. Empresariado Determinantes Nuevos empresarios Progreso empresarial Complejidades administrativas [ABSTRACT FROM AUTHOR]

Both domestic economies and financial markets are affected by cycles that are often represented through multi-state models such as Markov Switching (MS) models. This article discusses the performances associated to the government bond, the equity and the credit cases along the business cycle, using both an European and a US dataset over the 1987 to 2010 period. Periods of noninflationary growth have been strongly supportive to the credit universe, whereas inflationary growth has led to a strong performance of the equity asset class. On the contrary, recession periods are characterized by strong performances from government and investment grade bonds. These statements hold both in the US and in the European cases. [ABSTRACT FROM AUTHOR]

Since 1900, annual working hours per worker have been generally declining in the United States and in the main European economies. During this simultaneous decline the Europeans initially worked fewer hours than their American counterparts, worked more than the Americans starting in the early 1930s, and once again worked less than the American from the early 1970s on. Using a two-country model, this article argues that this dynamic pattern can be brought about by differences in the valuation of leisure by individuals in the compared economies. [ABSTRACT FROM AUTHOR]

The article discusses on the measure used to gauge poverty in the U.S., Europe and other developing countries. It discusses that the present official measure of poverty in the U.S. is flawed and both, the poverty threshold and measurement of available resources should be improved. It reports that European countries provided with sufficient social aid but they face a technical problem of relative poverty threshold. Also mentioned are the levels of economic development in developing and underdeveloped countries.

This work aims to explain which factors determine the participation of Spanish companies in R&D consortia within the EU's Framework Programme (FP), considering that the probability that a firm takes part must be regarded as the result of a two-phase process. First, the firm decides whether to apply for an FP cooperation project or not and secondly, the project is approved or rejected. The empirical results confirm that the probability of application depends on some firm-specific variables such as its commercial presence in foreign markets, its absorptive capacity regarding incoming spillovers and its prior experience in FP proposals. With regard to the proposal award, variables related to coordination capability (leader capacity, geographical distance among partners and prior experience in R&D cooperation) are valuable determinants. [ABSTRACT FROM AUTHOR]

This article discusses the ideas creation model that was initially formulated by Romer and later generalized and empirically applied by Jones. In particular, we generalize Jones' model to include catching up to a technological frontier, which improves the empirical results for European countries, and ensures convergence to the technological frontier in the steady state [ABSTRACT FROM AUTHOR]

The article discusses legal disputes and economic activity in America between 1700 and 1860. The author examines the reasons that the United States achieved its rapid economic success, which was overtaking early industrializing nations in Europe in the middle of the nineteenth century. The legal system of the time is addressed.

Ernest Bevin made the Third World Power project his own. He sought an imperial grouping led by Britain and France with economic and defence components and social-democratic values. It was to be a way to access raw materials and bolster European economies, and in time to create a global, strategic space between the U.S. and the Soviet Union. Bevin's alternative vision failed, in part because the demands of cold war bipolarity trumped the Third World Power concept. The project was also poorly conceived and badly managed, and did not stem antagonism between Britain and France. France, unlike Britain, was also soon able to upgrade its imperial commercial interests through the European Communities. [ABSTRACT FROM AUTHOR]

Based on longitudinal data in the dimensions of state, economy and society it is analyzed to what extent European societies have certain features in common which distinguish them from the United States. For most social indicators the range of variation within the European Union is bigger than the gap between Europe and the U.S. Differences between countries with different institutional arrangements persist. In terms of employment and growth dynamics Scandinavian nations, which have similarly extended welfare states as Continental European countries, have performed similarly well as the Anglo-Saxon countries. Hence there are not only different social models in Europe, but also different pathways to success. [ABSTRACT FROM AUTHOR]

The unparalleled growth of commercial biotechnology in the USA and Europe during the past two decades has also been marked by its steady development in Latin America. Brazil, Cuba, Argentina, Chile, Mexico and others have made significant strides in building their research and production capacity in modern biotechnology. As these countries have pioneered new biotechnology applications in agriculture, mining, biofuels, human and animal healthcare a number have also launched national biotechnology plans with long-term investment commitments. Newly formed biotechnology trade associations in the region are expanding their membership and rapidly gaining international visibility. Along with the growth of commercial biotechnology in Latin America comes the need to address a series of issues associated with public perception, regulatory framework and intellectual property protection, financing mechanisms, workforce development and more. Government agencies and related public institutions are challenged to adjust their policies and operations to address these changing needs. The private sector and the international community at large will continue to play critical roles in the region through knowledge networks, technology exchanges and joint business investments. [ABSTRACT FROM AUTHOR]

The article discusses the characteristics of trade unions in the U.S., Europe, and Asia. Similarities and differences among the trade unions in those regions are viewed on the unions' density, employer recognition of the unions, and tendencies toward decentralization of collective bargaining. In Asia, big differences in the character and size of trade unionism is possible to identify because of the different level of economic development and political systems of the countries in the region.

Presents an overview of articles on economic policy agenda for the 21st century. Definition of the U.S. economic policy agenda; Analysis of the challenges of stimulating economic growth in Europe; Examination of the changes in European competition policy.