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Power – property core of economic development: the cases of Russia and South Korea

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  • Pyastolov, S.M.
  • Shitenkova, E.V.

Abstract

The paper argues that some peculiarities of national development strategies may be described and explained with the help of the power – property concept which is used as a complement to the Economic Freedom surveys methodology. A cluster analysis approach is used to reveal the discrepancies in development strategies of Russia and of South Korea. The paper claims that factors which influence those discrepancies are mostly institutional and cultural attributes that concern the power – property phenomenon

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File URL: http://mpra.ub.uni-muenchen.de/44452/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 44452.

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Date of creation: 2012
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Publication status: Published in JOURNAL OF ECONOMIC REGULATION 4.3(2012): pp. 93-108
Handle: RePEc:pra:mprapa:44452

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Keywords: economic development; Russia; South Korea; power – property;

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  1. Douglass C. North, 1993. "Five Propositions about Institutional Change," Economic History 9309001, EconWPA.
  2. Timothy Frye & Andrei Shleifer, 1996. "The Invisible Hand and the Grabbing Hand," NBER Working Papers 5856, National Bureau of Economic Research, Inc.
  3. Sanford J Grossman & Joseph E Stiglitz, 1997. "On the Impossibility of Informationally Efficient Markets," Levine's Working Paper Archive 1908, David K. Levine.
  4. Polterovich, Victor, 2001. "Rent Seeking, Tax Policy, and Economic Growth," MPRA Paper 20058, University Library of Munich, Germany.
  5. Gordon Tullock, 2003. "The Origin Rent-Seeking Concept," International Journal of Business and Economics, College of Business, and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 2(1), pages 1-8, April.
  6. Jakob De Haan & Susanna Lundström & Jan-Egbert Sturm, 2006. "Market-oriented institutions and policies and economic growth: A critical survey," Journal of Economic Surveys, Wiley Blackwell, vol. 20(2), pages 157-191, 04.
  7. Gurgul, Henryk & Lach, Łukasz, 2011. "The nexus between economic freedom and growth: Evidence from CEE countries in transition," MPRA Paper 37434, University Library of Munich, Germany.
  8. Jac C. Heckelman, 2000. "Economic Freedom and Economic Growth: A Short-run Causal Investigation," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 71-91, May.
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