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This paper analyzes the opposition between the "liberals» and "statists» in the Russian political and economic thought. It demonstrates that the economic liberalization is an absolute prerequisite for the transition to sustainable socio-economic development. Such development must rely on investment activities of the state, which in the current circumstances is a necessary but not sufficient measure for reversing the negative trends. The negative developments can be prevented only through implementation, along with the institutional changes in the economic area that form a strata of economically independent entrepreneurs-innovators, of no less profound transformation in political institutions aimed at democratization of public life. © 2015 The Journal of Economic Theory.

This paper analyzes the opposition between the «liberals» and «statists» in the Russian political and economic thought. It demonstrates that the economic liberalization is an absolute prerequisite for the transition to sustainable socio-economic development. Such development must rely on investment activities of the state, which in the current circumstances is a necessary but not sufficient measure for reversing the negative trends. The negative developments can be prevented only through implementation, along with the institutional changes in the economic area that form a strata of economically independent entrepreneursinnovators, of no less profound transformation in political institutions aimed at democratization of public life.

This paper analyzes the opposition between the «liberals» and «statists» in the Russian political and economic thought. It demonstrates that the economic liberalization is an absolute prerequisite for the transition to sustainable socio-economic development. Such development must rely on investment activities of the state, which in the current circumstances is a necessary but not sufficient measure for reversing the negative trends. The negative developments can be prevented only through implementation, along with the institutional changes in the economic area that form a strata of economically independent entrepreneurs-innovators, of no less profound transformation in political institutions aimed at democratization of public life.

This essay suggests that a state's economic engagement with a potential military aggressor can be understood as an attempt to increase its deterrent capability. It first introduces the concept of economic deterrence and derives three strategies of economic deterrence from classic deterrence theory: (1) punishment, (2) denial, and (3) diminution. Next, it suggests that economic engagement can be employed to advance the ability, credibility, and communication for economic deterrence, as well as to create favorable conditions to adopt the three economic deterrence strategies. Finally, the essay discusses the requirements for effective employment of engagement policy for economic deterrence.

In this paper, I explore the politically contested association between the degree of capitalism, captured by measures of economic freedom, and the risk and characteristics of economic crisis. After offering some brief theoretical considerations, I estimate the effects of economic freedom on crisis risk in the post-Cold War period 1993-2010. I further estimate the effects on the duration, peak-to-trough GDP ratios and recovery times of 212 crises across 175 countries within this period. Estimates suggest that economic freedom is robustly associated with smaller peak-to-trough ratios and shorter recovery time. These effects are driven by regulatory components of the economic freedom index.

AEJ Policy will publish papers covering a range of topics, the common theme being the role of economic policy in economic outcomes. Subject areas will include public economics; urban and regional economics; public policy aspects of health, education, welfare, and political institutions; law and economics; economic regulation; and environmental and natural resource economics.

"The lessons of history" were widely invoked in 2008/09 as analysts and policymakers sought to make sense of the global financial crisis. Specifically, analogies with the early stages of the Great Depression of the 1930s were widely drawn. Building on work in cognitive science and literature on foreign policy making, this article seeks to account for the influence of this particular historical analogy and asks how it shaped both perceptions and the economic policy response. It asks how historical scholarship might be better organized to inform the process of economic policymaking. It concludes with some reflections on how research in economic history will be reshaped by the crisis.

ABSTRACT
The international economic regime has entered a new phase of reassertion of sovereignty by States. While States continue to show respect for the values of international (economic) law, the institutionalization of these values has devolved from the international (to the regional) to the domestic level of governance. A new form of 'unilateral economic law' is thus gaining importance in the development of international and domestic laws and institutions. However, it remains largely understudied. This article discusses the development and proliferation as well as the importance of special economic zones as a new form of unilateral economic law in the overall system of international economic law. This article identifies four types of economic unilateralism: classical unilateralism, embedded unilateralism, sustainability unilateralism, and national security unilateralism. The new special economic zone unilateralism represents a middle ground between the two extremes of unilateral liberalization and aggressive unilateralism. Accordingly, special economic zone unilateralism introduces a new layer in the overall system of international economic law. First, special economic zones embody a new compromise between the State and the market. The State-controlled promotion of trade and investment taking place through special economic zones represents a complex compromise between the liberalization and protection of economic sovereignty. Second, the spatiality of trade and investment promotion through special economic zones is different from that of international economic law. The liberalization of trade and investment does not take place for the whole country but for an isolated jurisdiction within the broader national jurisdiction, while the focus is on the supply side rather than the traditional input factors of production. Overall, the new special economic zone unilateralism provides insights into the future of international economic law as envisaged by States. Special economic zones have been employed by States both as an alternative and as a complement to trade and investment promotion through the instruments of international economic law.

Economic complexity is relatively a new concept developed in recent years to provide a holistic measure of the production characteristics of countries. Economic complexity not only explains the countries' productive structures but also helps examine the income and growth differences across countries. This study aims to analyze the link between complexity and economic performance for a group of countries for the period between 1981 and 2015 by using the Economic Complexity Index developed by Hidalgo and Hausmann (2009). This thesis contributes to literature in various ways. First, the effect of economic complexity on economic growth and convergence is examined by applying a dynamic panel data methodology. Second, causal relationship between growth and complexity is investigated. Finally, the link between output volatility and economic complexity is also analyzed for a group of countries using a panel vector autoregressive model. The estimation results reveal that economic complexity is an important determinant of economic growth. Furthermore, the findings show that complexity also positively affects the speed of convergence. In addition, it is demonstrated that economic complexity also helps to stabilize an economy through reducing the negative effects of output volatility. These findings suggest that improving the economic complexity contributes greatly to the performance of an economy. Therefore, policies that aim to increase the economic complexity should be one of the major objectives of economies. ; TABLE OF CONTENTS ACCEPTANCE AND APPROVAL i DECLARATION ii YAYIMLAMA VE FİKRİ MÜLKİYET HAKLARI BEYANI iii ETİK BEYAN iv ACKNOWLEDGEMENTS v ABSTRACT vi TURKISH ABSTRACT vii TABLE OF CONTENTS viii TABLES x FIGURES xi ABBREVIATIONS xii INTRODUCTION 1 1. ECONOMIC COMPLEXITY INDEX 5 1.1. MEASUREMENT OF ECONOMIC COMPLEXITY 9 1.2. HOW ECONOMIC COMPLEXITY EVOLVES: A PRODUCT SPACE ANALYSIS 15 2. ECONOMIC COMPLEXITY AND ECONOMIC GROWTH 20 2.1. A BRIEF DISCUSSION OF THE ECONOMIC GROWTH RESEARCH 20 2.1.1. Adam Smith and Classical Views of Economic Growth 20 2.1.2. Keynesian Views of Economic Growth 21 2.1.3. Neo Classical Approach to Growth: Solow Model 22 2.1.4. Endogenous Growth Theories 23 2.1.5. Augmented Solow Model 25 2.1.6. Institutions and Growth 25 2.1.7. International Trade and Growth 27 2.1.8. The Structuralist Literature 28 2.2 THE IMPLICATIONS OF ECONOMIC COMPLEXITY ON ECONOMIC GROWTH 29 2.3. LITERATURE REVIEW OF COMPLEXITY AND GROWTH RELATIONSHIP 35 2.4. EMPIRICAL ANALYSIS OF GROWTH AND COMPLEXITY RELATIONSHIP 41 2.4.1. Data 42 2.4.2. Methodology 47 2.4.3. Estimation Results 50 2.5. CAUSAL ANALYSIS BETWEEN COMPLEXITY AND GROWTH 56 3. ECONOMIC COMPLEXITY AND OUTPUT VOLATILITY 64 3.1. THEORETICAL FRAMEWORK AND THE REVIEW OF THE LITERATURE 65 3.2. DATA 74 3.3. METHODOLOGY 79 3.4. ESTIMATION RESULTS 81 3.4.1 Estimation Results for the Full Sample 81 3.4.2 Estimation Results for Developing Countries 92 CONCLUSION 101 APPENDIX A 105 APPENDIX B 110 APPENDIX C 115 REFERENCES 117 APPENDIX 1 134 APPENDIX 2 135 ; Ekonomik kompleksite, ülkelerin üretim özelliklerinin bütünsel bir ölçümünü sağlamak için son yıllarda geliştirilen yeni bir kavramdır. Ekonomik kompleksite yalnızca ülkelerin üretim yapılarını açıklamakla kalmaz, aynı zamanda ülkeler arasındaki gelir ve büyüme farklılıklarını da açıklamaya yardımcı olur. Bu çalışma, Hidalgo ve Hausmann (2009) tarafından geliştirilen Ekonomik Kompleksite Endeksi'ni kullanarak kompleksite ve ekonomik performans arasındaki bağlantıyı bir grup ülke için 1981 - 2015 yılları arasında analiz etmeyi amaçlamaktadır. Bu tez, literatüre çeşitli şekillerde katkıda bulunmaktadır. İlk olarak, ekonomik kompleksitenin ekonomik büyüme ve yakınsama üzerindeki etkisi dinamik panel veri metodolojisi uygulanarak incelenmiştir. İkinci olarak, büyüme ve kompleksite arasındaki nedensel ilişki araştırılmıştır. Son olarak, çıktı oynaklığı ile ekonomik kompleksite arasındaki ilişki, panel vektör otoregresif model kullanılarak çeşitli ülkeler için analiz edilmiştir. Tahmin sonuçları, ekonomik kompleksitenin, ekonomik büyümenin önemli bir belirleyicisi olduğunu ortaya koymuştur. Ayrıca, bulgular, kompleksitenin, yakınsama hızına pozitif bir etkisi olduğunu da göstermiştir. Ek olarak, ekonomik kompleksitenin, çıktı oynaklığının olumsuz etkilerini azaltarak ekonominin istikrara kavuşmasına yardımcı olduğu da gösterilmiştir. Bu bulgular, kompleksitenin geliştirilmesinin bir ekonominin performansına büyük katkı sağladığını göstermektedir. Bu nedenle, ekonomik kompleksiteyi arttırmayı amaçlayan politikalar, ekonomilerin temel amaçlarından biri olmalıdır.