Financial transactions increase according to the economic growth of the nation. As India’s economy is growing rapidly large amount of money transactions are increasing rapidly. Apart from currency notes and credit/debit cards cheques plays very vital role in transaction of large amount of money for their ease and convenience. Due to this cheques are vulnerable to forgeries by anti-social elemen...

Paper-based cheques have been in use for about 350 years. And it has been played a very important role in people’s lives (Barrow, 2009). While the use of paper based cheques is continue to decline in the world. In many countries, such as Netherlands and Sweden, people there have already stopped using paper based cheques, or there are only small amount of people using cheques. This trend also ex...

In unequal societies, the rich might benefit from shaping economic institutions into their favor. This paper analyzes the dynamics of institutional subversion focusing on one particular institution, public protection of property rights. If this institution is imperfect, agents have incentives to invest in private protection of property rights. With economies of scale in private protection, rich...

We review the role of R&D in endogenous growth theory, and describe extant empirical research—macro and micro—bearing on R&D as an engine of growth. Taking R&D to be key while recognizing the significance of economic incentives emphasizes knowledge as an economic object and, more generally, the economics of intellectual property rights. This paper argues that property rights matter, but in subt...