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The Territorial Dynamics Of Innovation In China And India

Crescenzi, Riccardo; Rodriguez-Pose, Andres; Storper, … - C.E.P.R. Discussion Papers - 2012

This paper analyses the geography of innovation in China and India. Using a tailor-made panel database for regions in … between the provinces and states within both countries are quite different. In China, the concentration of innovation is …. Innovative areas in China, rather than generate knowledge spillovers, seem to produce strong backwash effects. In India, by …

Persistent link: https://www.econbiz.de/10011083752

Market Integration and Economic Development: A Long-Run Comparison

Keller, Wolfgang; Shiue, Carol Hua - C.E.P.R. Discussion Papers - 2004

How much of China’s recent economic performance can be attributed to market-oriented reforms introduced in the last two … Paper compares the integration of rice markets in China today and 270 years ago. In the 18th century, transport technology … pattern of interregional income in China is strongly linked to persistent geographic factors that were already apparent …

Persistent link: https://www.econbiz.de/10005136759

Financial Structure and Macroeconomic Volatility: Theory and Evidence

Huizinga, Harry; Zhu, Dantao - C.E.P.R. Discussion Papers - 2006

This paper presents a simple model capturing differences between debt and equity finance to examine how financial structure matters for macroeconomic volatility. Debt finance is relatively cheap in the sense that debt holders need to verify relatively few profitability states, but debt finance...

Persistent link: https://www.econbiz.de/10005498044

Bank Finance versus Bond Finance: What Explains the Differences Between the US and Europe?

De Fiore, Fiorella; Uhlig, Harald - C.E.P.R. Discussion Papers - 2005

We present a dynamic general equilibrium model with agency costs, where heterogeneous firms choose between two alternative instruments of external finance - corporate bonds and bank loans. We characterize the financing choice of firms and the endogenous financial structure of the economy. The...

Persistent link: https://www.econbiz.de/10005498089

The Political Economy of Financial Systems: Evidence from Suffrage Reforms in the Last Two Centuries

Degryse, Hans; Lambert, Thomas; Schwienbacher, Armin - C.E.P.R. Discussion Papers - 2013

Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty...

Persistent link: https://www.econbiz.de/10011084251

Capital Structure and International Debt Shifting

Huizinga, Harry; Laeven, Luc; Nicodème, Gaëtan - C.E.P.R. Discussion Papers - 2006

This paper presents a model that relates a multinational firm's optimal debt policy to taxation and to non-tax factors such as the desire to prevent bankruptcy. The model yields the predictions that a multinational's indebtedness in a country depends on national tax rates and differences between...

Persistent link: https://www.econbiz.de/10005791642

Detection of Local Interactions from the Spatial Pattern of Names in France

Head, Keith; Mayer, Thierry - C.E.P.R. Discussion Papers - 2007

Using data on name distributions in 95 French departments observed from 1946 to 2002, we investigate spatial and social mechanisms behind the transmission of parental preferences. Drawing inspiration from recent work on social interactions, we develop a simple discrete choice model that predicts...

Persistent link: https://www.econbiz.de/10005504705

Innovative Clusters and the Industry Life Cycle

Audretsch, David B; Feldman, Maryann P - C.E.P.R. Discussion Papers - 1995

The purpose of this paper is to link the propensity for innovative activity to cluster spatially to the stage of the industry life cycle. The theory of knowledge spillovers, based on the knowledge production function for innovative activity, suggests that geographic proximity matters most in...

Persistent link: https://www.econbiz.de/10005497876

The Location of the UK Cotton Textiles Industry in 1838: a Quantitative Analysis

Crafts, Nicholas; Wolf, Nikolaus - C.E.P.R. Discussion Papers - 2013

We examine the geography of UK cotton textiles in 1838 to test claims about why the industry came to be so heavily … concentrated in Lancashire. Our analysis considers both first and second nature geography including the availability of water power …

Persistent link: https://www.econbiz.de/10011083262

Coal and the European Industrial Revolution

Fernihough, Alan; O'Rourke, Kevin Hjortshøj - C.E.P.R. Discussion Papers - 2014

We examine the importance of geographical proximity to coal as a factor underpinning comparative European economic development during the Industrial Revolution. Our analysis exploits geographical variation in city and coalfield locations, alongside temporal variation in the availability of...

Persistent link: https://www.econbiz.de/10011083731