Marina V. Rosser

Income Inequality, Corruption, and the Non-Observed Economy: A Global Perspective

How large the non-observed economy (NOE) is and what determines its size in different countries and regions of the world is a question that has been and continues to be much studied by many observers (Schneider and Enste, 2000, 2002)2. The size of this sector in an economy has important ramifications. One is that it negatively affects the ability of a nation to collect taxes to support its public sector. The inability to provide public services can in turn lead more economic agents to move into the non-observed sector (Johnson, Kaufmann, and Shleifer, 1997). When such a sector is associated with criminal or corrupt activities it may undermine social capital and broader social cohesion (Putnam, 1993), which in turn may damage economic growth (Knack and Keefer, 1997; Zak and Knack, 2001). Furthermore, as international aid programs are tied to official measures of the size of economies, these can be distorted by wide variations in the relative sizes of the NOE across different countries, especially among the developing economies.

Institutional Evolution of Environmental Management under Global Economic Growth

(2006). Institutional Evolution of Environmental Management under Global Economic Growth. Journal of Economic Issues: Vol. 40, Papers From The 2006 AFEE Meeting, pp. 421-429.

The new traditional economy: A new perspective for comparative economics?

This paper argues that a new economic system is emerging in the world economy, that of the new traditional economy. Such an economic system simultaneously seeks to have economic decision making embedded within a traditional socio‐cultural framework, most frequently one associated with a traditional religion, while at the same time seeking to use modern technology and to be integrated into the modern world economy to some degree. The efforts to achieve such a system are reviewed in various parts of the world, with greater analysis of the Islamic and neo‐Confucian economic systems.

Another Failure of the Washington Consensus on Transition Countries: Inequality and Underground Economies

Western policymakers have long worried about underground economies in transition nations and less about income inequality. But the authors argue that growing income inequality is an important cause of the growth of an underground economy.

Long wave chaos and systemic economic transformation

Abstract The possibility of long wave economic cycles are considered under both market capitalism and command socialism. Capitalist long waves can be generated by a two‐stage multiplier‐accelerator model and socialist long waves can be generated by an equivalent model strictly for investment cycles. Under certain conditions chaotic dynamics can occur at turning points in both cases. It is argued that a systemic crisis leading to a systemic transformation is most likely to occur at such a point.

Chaotic Hysteresis and Systemic Economic Transformation: Soviet Investment Patterns

Economies making a transition from centrally planned socialism to market capitalism can experience chaotic hysteresis. This can arise from elements of the previous system persisting even as institutions are transformed with the system possibly experiencing chaos during this conflict. A model of investment cycles accompanied by technological stagnation shows this phenomenon which can be viewed from a cusp catastrophe perspective. Empirical tests of Soviet investment and construction data provide incomplete support for the cusp structure with chaos. Nonlinear structures are found with bifurcation effects for all cases and possibly chaotic dynamics for five-year lagged construction data.

Endogenous chaotic dynamics in transitional economies

Abstract This paper examines a model of labor market dynamics in an economy undergoing transition from command socialism to market capitalism. State sector layoffs are modeled as a function of forecasts made by state planners of private sector wages where the laidoff workers are to be re-employed. The state switches between using a high information cost perfect forecast and a free naive forecast in a system that resembles a cobweb supply-demand model. Under certain specifications and parameter values chaotic dynamics are shown to endogenously emerge along with several other varieties of complex dynamics including strange attractors, coexistence of infinitely many stable cycles, cascades of infinitely many period doubling bifurcations and fractal basin boundaries between coexisting non-chaotic attractors.

Experiences of economic transition in complex contexts

This paper focuses on nonlinear properties of economic transformation and provides illustrations from nearly a decade of economic transition experience of the formerly planned economies. A particular argument is that policies that move a system along “the edge of chaos” may have the best chance of succeeding. This paper also highlights various difficulties and possible complexities that have not been pointed out by earlier analysts. It suggests that policy makers should keep a watchful eye on smaller incremental changes in the economic and institutional environments critical for their general effectiveness, as some may have enormous impacts at certain points in a dynamically complex environment.

Discrete Dynamics in Transitional Economies

This paper traces the transition from planned command socialism to market capitalism and the accompanying complex non-linear dynamics involved. Long wave chaotic hysteretic investment cycles emerge under socialism leading to crisis and breakdown. Macroeconomic collapse occurs with bifurcations of coordination structures during transition. During recovery, transitional cobweb labor market dynamics exhibit chaos, fractal basin boundaries between coexisting non-chaotic attractors, discontinuous phase transitions, strange attractors, and cascades of infinitely many period-doubling bifurcations.

East‐West Joint Ventures in the USSR and China: A Comparative Study

The article discusses the commonalities and differences between the Soviet Union and China in the evolution of the philosophy and practical policy vis‐a‐vis joint ventures with the West. The comparative study is set against the background of the ongoing reform in both countries which seeks to integrate Soviet and Chinese economies into the world economic community. It is emphasised that the terms, impact on the overall economic situation, and prospects of joint ventures with the West in the USSR and China, are determined by the scale, scope and consistency of the implemented reforms which, in their turn, are dependent to a certain extent on the results of business co‐operation with Western firms.