nep-net New Economics Papers
on Network Economics
Issue of 2006‒06‒24
four papers chosen by
Yi-Nung Yang
Chung Yuan Christian University

  1. The Rules of Standard Setting Organizations: an Empirical Analysis By CHIAO, Benjamin; LERNER, Josh; TIROLE, Jean
  2. Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice By Christopher M. Meissner; Nienke Oomes
  3. E-Commerce, Two-Sided Markets and Info-Mediation By GAUDEUL, Alexandre; JULLIEN, Bruno
  4. Institutions, Networks and Entrepreneurship Development in Russia: An Exploration By Ruta Aidis; Saul Estrin

  1. By: CHIAO, Benjamin; LERNER, Josh; TIROLE, Jean
    Date: 2006–05
  2. By: Christopher M. Meissner; Nienke Oomes
    Abstract: Conditional on choosing a pegged exchange rate regime, what determines the currency to which countries peg or “anchor” their exchange rate? This paper aims to answer this question using a panel multinomial logit framework, covering more than 100 countries for the period 1980-1998. We find that trade network externalities are a key determinant of anchor currency choice, implying that there are multiple steady states for the distribution of anchor currencies in the international monetary system. Other factors found to be related to anchor currency choice include the symmetry of output co-movement, the currency denomination of debt, and legal or colonial origins.
    Keywords: exchange rate regime; anchor; network externalities; optimal currency area; international currency; de facto
    JEL: E42 F02 F33
    Date: 2006–06
  3. By: GAUDEUL, Alexandre; JULLIEN, Bruno
    Date: 2005–01
  4. By: Ruta Aidis (SSEES, University College London and FEE, University of Amsterdam); Saul Estrin (London Business School and IZA Bonn)
    Abstract: In this paper we explore the ways in which institutions and networks influence entrepreneurial development in Russia. By utilizing new Global Entrepreneurship Monitor (GEM) data collected in 2001, we investigate the effects of the weak institutional environment in Russia in terms of three dimensions: on the rate of productive entrepreneurial activity measured in terms of start-ups and existing business owners; on the characteristics of business owners; and on business financing. In addition, the analysis explores the effectiveness of Russia’s informal networks for circumventing the weak institutional environment for business development. Our results indicate that Russia’s business owners share many of the same characteristics as business owners in advanced western countries, though education is not associated with entrepreneurial activity. However, the main differences are in the sources of financing and the fact that relatively few individuals engage in productive entrepreneurial activity. Our results support the notion of the limited effectiveness of Russia’s networks for supporting entrepreneurial activity in its weak institutional environment.
    Keywords: entrepreneurship, institutions, networks, Russia
    JEL: J23 M13
    Date: 2006–06

This nep-net issue is ©2006 by Yi-Nung Yang. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.