What will be the growth of the Gross Domestic Product (GDP) or the competitiveness of China, United States, and Vietnam in the next 3, 5 or 10 years? Despite this kind of questions has a large societal impact and an extreme value for economic policy making, providing a scientific basis for economic predictability is still a very challenging problem. Recent results of a new branch--Economic Comp...

In this paper we investigate a stochastic model for an economic game. To describe this model we have used a Wiener process, as the noise has a stabilization effect. The dynamics are studied in terms of stochastic stability in the stationary state, by constructing the Lyapunov exponent, depending on the parameters that describe the model. The numerical simulation that we did justifies the theore...

Periodic enzyme activities can improve the metabolic performance of cells. As an adaptation to periodic environments or by driving metabolic cycles that can shift fluxes and rearrange metabolic processes in time to increase their efficiency. To study what benefits can ensue from rhythmic gene expression or posttranslational modification of enzymes, I propose a theory of optimal enzyme rhythms i...

This introductory chapter focuses on the concept of development. The low standard of living of the mass of the population in developing countries is singled out as the key issue in development. The development of per capita income over time and the factors that influence economic development or stagnation are important topics in this book. However, the interplay between economic and non-economi...

The purpose of this paper is to discuss the significance of the theory of complex systems for analyzing economic evolution. We emphasize the necessity of the structural dynamic approach and discuss possible implications of the theory of complex systems for studying economic processes with different speeds of change. We illustrate a way to construct a general economic theory that includes the ma...

Traditional empirical strategies for studying convergence—more generally, the dynamics and determinants of economic growth—can be misleading if important, underlying permanent or growth components are stochastically time-varying. This paper documents the degree to which this instability characterizes the data, and then offers an alternative empirical framework. This alternative—directly modelli...

Using state-level data from the United States, we find that initial legal systems in territories originally settled by Great Britain – a common law country – and in territories originally settled by France, Spain, and Mexico and the Netherlands all civil law countries have persistent effects on the quality of contemporary institutions. In order to explain these findings, we develop a transplant...

This paper presents a dynamic general equilibrium model to illustrate how international trade and dynamic trade policies a¤ect industrialization, industrial upgrading, and economic growth in a two-country world, where there is an in…nite number of possible industries di¤erent in their capital intensities. Analytical solutions are obtained to fully characterize the endowment-driven industrializa...

Climate change is the alteration of climate directly or indirectly caused by human activities that modify the composition of the atmosphere. Greenhouse gases (GHG), particularly CO2, are accumulating in the atmosphere, with the consequent warming. Global mean temperature has risen since preindustrial times, with most of the warming occurring in the last three decades. The consequence are increa...