<p>Numerous studies have confirmed a statistically significant negative relationship between natural resource abundance and economic growth. This has been labeled “The Resource Curse”. In this paper we try to explain why Botswana, a country heavily dependent on its diamond industry, has managed to generate sustainable growth. Economists have advanced several explanations for the negative impact of natural resources on long-term growth. This paper focuses on the following important problems: First, a boom in a natural resource can pull resources away from other sectors of the economy, thus harming their international competitiveness, a phenomenon called the Dutch disease. Second, abundance in natural resources may lead to poor institutional quality in many countries. Thanks to conservative fiscal policies and accumulation of foreign reserves the local currency did not appreciate during the boom, and Botswana avoided the most severe symptoms of the Dutch disease. Historical tradition of democratic procedures and sound institutions at the time of diamond discovery has contributed to a high institutional quality in Botswana.</p>

This article investigates the determinants of subsidiaries' profitability using a unique dataset of more than 23,000 listed and unlisted subsidiaries worldwide over the period 1994-2005. We find that profitable parent companies are able to transfer some of the intangible assets that make them profitable to their subsidiaries. Our results indicate that good institutions (measured by the Worldwide Governance Indicators) are associated with better performance for companies' subsidiaries. When we categorize countries in terms of the origins of their legal systems, we also find that this dimension of institutional quality is generally associated with better performance. Controlling for both legal origins and country governance institutions, we find that both sets of institutions are significantly related to subsidiaries' performance, and that there is an overlap in their explanatory power. (authors' abstract)

Numerous studies have confirmed a statistically significant negative relationship between natural resource abundance and economic growth. This has been labeled “The Resource Curse”. In this paper we try to explain why Botswana, a country heavily dependent on its diamond industry, has managed to generate sustainable growth. Economists have advanced several explanations for the negative impact of natural resources on long-term growth. This paper focuses on the following important problems: First, a boom in a natural resource can pull resources away from other sectors of the economy, thus harming their international competitiveness, a phenomenon called the Dutch disease. Second, abundance in natural resources may lead to poor institutional quality in many countries. Thanks to conservative fiscal policies and accumulation of foreign reserves the local currency did not appreciate during the boom, and Botswana avoided the most severe symptoms of the Dutch disease. Historical tradition of democratic procedures and sound institutions at the time of diamond discovery has contributed to a high institutional quality in Botswana.

The objectives of this thesis are to: (1) examine if the resource curse exists in the context of Libya; (2) assess the role of institutions in avoiding or minimising the resource curse, and; (3) evaluate institutional and economic reforms required, and the best options to diversify the economy from oil, hence avoid the resource curse in Libya. To achieve these, three approaches are applied, (i) a three country comparative analysis; (ii) Libya country-level time-series analysis, and; (iii) institutional descriptive analysis. This thesis uses time-series data and annual datasets covering 1970-2010. Johansen’s co-integration is used to establish the long-run equilibrium relationship among the variables in the models. The Johansen co-integration test, based on the Trace and Maximum Eigenvalue statistics, is applied. In the first approach, the three case studies included in the study are Nigeria, Norway and UAE, with outcomes suggesting that Norway managed to avoid the Dutch disease, the UAE show no major signs of the resource curse, Norway and the UAE have largely managed to overcome Dutch disease, while Nigeria suffers a management curse. The first model suggests that Libya may experience a resource curse, but this may not be as a result of an appreciation of the real exchange rate. A 1% increase in the oil price will cause the Libyan exchange rate to increase (depreciate) by 1.41%. The country could potentially suffer from Dutch disease, but no evidence can be brought by the first model alone. In an attempt to reinforce the first analysis, the second model examined the sectoral impacts of the Dutch disease. Three relations are estimated; tradable sectors (manufacturing and agricultural), and non-tradable sectors (construction and services). These were all found to have been affected by oil revenue. This therefore confirms the existence of Dutch disease in Libya. The descriptive statistics analysis is used alongside five governance indicators: political stability, government effectiveness, and regulatory quality, rule of law and control of corruption. It is concluded that the quality of institutions in Libya affects economic growth negatively. The study holds several implications for policy-makers.

We investigate the effect of changing national institutions on relocations of intermediary HQs. Using a dataset of 154 cross-border relocations between the period from 2000 to 2015, we draw on the intermediary HQ's middle position within the MNC and investigate how a decrease in institutional quality in the HQ's host country and a change in institutional distance between different MNC units affect the relocation decision. Our findings advance the emergent literature on HQ relocations as well as our knowledge of intermediary HQs and the effect of changing institutions on organizational location choices. Beyond our theoretical contributions, we offer policy and managerial implications.

The diploma thesis focuses on a broad issue of the institutional quality and its impacts on a real economy. It summarizes important theoretical approaches involving not only institutions and their influence on a behavior of economic subjects (New Institutional Economics, New Comparative Economics), but also a behavior of politicians (Public Choice Theory) as they contribute to the formation of the institutional environment notably. The thesis pays to a historical outline, consequences and the evolution of institutional environment in the countries of Central Europe (The Czech Republic, Slovakia, Poland, Hungary). The analytical part of the thesis focuses on the qualitative analysis of the most significant elements of the institutional environment in the countries mentioned above: the security of the private ownership and its observance, the law enforcement, the corruption rate, the quality of entrepreneurial environment, the effectiveness and the quality of a regulation and not least the governance effectiveness on government and private level.

The purpose of this research is to provide an understanding of the relationship that may exist between the institutional determinants and the inward flow of FDI in France. Indeed, the French government and various decisions-makers have attributed the unique growth of the inward flow of FDI to the institutional quality of the country. Moreover, to support this assumption, scholars and experts describe France as an institutionally powerful country. Therefore, in order to test this assumption, we have designed an explanatory analysis of the institutional determinants’ indexes from the WGIs over the period from 2005 to 2018 to test their likely relationship with the FDI inflows in France using descriptive, correlation and regression analyses. This study is based on the rich and furnished literature addressing the role of institutional characteristics in attracting FDI. Although our research has been impacted by the Coronavirus pandemic in terms of data collection and analyses, the corroborating evidences from the empirical findings do not validate the raised hypotheses and bring out many practical implications beneficial for national and local policymakers as well as companies’ managers in the worldwide FDI location competition.

The aim of this study isto analyze the influence of institutional quality on the realization process of entrepreneurial intentions. In this analysis a distinction is made between opportunity-based and necessity-based entrepreneurial intentions. Using Ajzen’s Theory of Planned behavior I hypothesized that Opportunity-based entrepreneurial intentions would better translate to actual entrepreneurship than necessity-based entrepreneurial intentions. Moreover, institutional quality was expected to directly influence both types of entrepreneurship and to moderate the realization of both types of intentions to actual entrepreneurship. In order to test these hypotheses, data from the Global Entrepreneurship Monitor, The Heritage Foundation, and The World Bank was adopted, and several regressions have been performed. The outcomes show that opportunity-based intentions and necessity-based intentions translate to entrepreneurship, but that opportunity intentions are not superior in determining levels of entrepreneurship. Moreover, institutional quality has shown to negatively influence necessity intentions, but not opportunity intentions. Finally, Institutional quality negatively moderates opportunity intentions, but not necessity intentions. In conclusion, this study contributes significantly to the literature by exposing this difference in domains in which institutional quality has an effect and by displaying the potential negative effect of institutional quality on realizing entrepreneurial intentions.

Yes / This paper introduces a novel measure of the energy transition, i.e., the green quality of energy mix (GREENQ) across the Organisation for Economic Co-operation and Development (OECD) countries. Then, the paper examines the impact of the GREENQ on CO2 emissions in the panel dataset of 36 OECD countries from 1970 to 2021. The explanatory variables include per capita income, institutional quality and technology. Long-run panel data estimations indicate that per capita income, institutional quality and technology increase CO2 emissions. The novel evidence is that the GREENQ is negatively related to the level of CO2 emissions. These findings are robust to employ different panel data estimation techniques. Potential policy implications are also discussed. / The project was funded by the “Foreign Cultural and Educational Experts Project of the Ministry of Science and Technology of China” (Project Number: DL2022180001L).

Les échanges dans la zone euro-méditerranéenne ont été caractérisés par une intensification des flux commerciaux au début des années 2000. A cette même période, la question migratoire a été mise en avant en raison d’une explosion de l’immigration clandestine dans les pays du sud de l’Europe. L’objectif de cette thèse est d’étudier certaines conséquences économiques actuelles de ces migrations dans le cas de France. Dans cette optique nous abordons les questions liées à la relation commerce-migrations, à la politique migratoire, et à la localisation spatiale des immigrés en France. En utilisant des données récentes et en intégrant des paramètres jusque là peu utilisés, nous mettons en évidence des caractéristiques particulières de l’immigration en France. Nous apportons également des réponses quant a` la contribution des immigrés a` la production nationale, de même qu’a` l’accroissement du commerce bilatéral avec les pays d’origine. Les implications en termes de politiques économiques se situent d’une part dans la mise en œuvre d’une facilitation des opportunités d’aaires entre la France et les pays d’origine. Cela s’impose au regard de l’impact positif de l’immigration sur le commerce bilatéral. D’autre part, les difficultés relevées au niveau des politiques migratoires appellent a` une nécessaire harmonie de ces dernières, au plan européen, pour une gestion plus efficace. Cela passe encore par une implication des pays d’origine afin de faciliter l’immigration légale, et limiter les entrées clandestines. Enfin, la localisation spatiale des immigrés indique que leur concentration dans les pôles régionaux a un impact négatif sur leur contribution `a la production. La réponse peut se situer dans une analyse détaillée de la structure et du processus d’intégration des populations immigrés / The Euro-Mediterranean trade has grown up a lot in the early 2000. At the same time, the migration issue has been highlighted due to an explosion of illegal immigration in the Southern Europe countries. The aim of this thesis is to study some current economic impact this immigration in the French case. We address the issues of trade and migration relationship, migration policy, and spatial location of immigrants in France. Using recent data and shaping factors little used empirically, we highlight the specific characteristics of immigration in France. We also provide explanations to the contribution of immigrants to the domestic, as well as increasing bilateral trade with the country. In terms of economic policies, it lies firstly in the implementation of facilitating business opportunities between France and the countries of origin. This is necessary to take more profit from the positive impact of immigration on bilateral trade. On the other hand, problems identified in migration policies call for a necessary harmony of policies, at European level, for more effective management. Such objectives require the involvement of countries of origin to facilitate legal migration, and limit illegal entries. Finally, the spatial location of immigrants indicates that their concentration at regional level has a negative impact on their contribution to production. The solution may lie in a detailed analysis of the structure, and the integration of immigrant populations’ process.