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Motivated by the regulatory debate in electricity markets, we seek to understand how market design affects market performance through its impact on investment incentives. For this purpose, we study a two-stage game in which firms choose their capacities under demand uncertainty prior to bidding...
Persistent link: https://www.econbiz.de/10005656328
The increasing literature on the interactions between liberalization-integration of product markets and labour market reforms is often highly speculative and draws on a rather weak empirical basis. Cross-country indicators of regulatory frameworks are often lacking, making it difficult to...
Persistent link: https://www.econbiz.de/10005662218
Simplifying entry regulation has been a popular reform since the publication of Djankov et al (2002). The inclusion of business entry indicators in the World Bank’s Doing Business project has led to an acceleration in reform: in 2003-2008, 193 reforms took place in 116 countries. A large...
Persistent link: https://www.econbiz.de/10005791283
difference, international trade, remittances, and a heterogeneous workforce. We compare welfare under the observed levels of … flows -- such as Jamaica or El Salvador -- are also better off due to migration, but for a different reason: remittances … about 10% in countries with large incoming remittances. Our results are robust to accounting for imperfect transferability …
Persistent link: https://www.econbiz.de/10011083627
home thanks to a relatively larger flow of remittances. Skilled migrants typically earn relatively more and, ceteris … flow of remittances from skilled migrants. Hence, the sign of the impact of the brain drain on total remittances is an … home out of a given flow of earnings abroad. We then derive an empirical equation of remittances and estimate it on a large …
Persistent link: https://www.econbiz.de/10005114298
entrepreneurship as a mechanism that reduces the knowledge filter. A cross-country regression analysis over the period 1981 … entrepreneurship may be an important new approach to promoting economic growth. …
Persistent link: https://www.econbiz.de/10005504210
capital-backed entrepreneurship. We also argue that dividend and capital gains taxes on mature firms have important …
Persistent link: https://www.econbiz.de/10005504248
Using a dataset of the firms listed on the Neuer Markt in Germany, this Paper demonstrates that venture backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study provide evidence for the hypothesis that small and innovative firms are more...
Persistent link: https://www.econbiz.de/10005504258
We study the implications of ownership and its induced incentives on firm performance in the ‘New Economy’. Instead of traditional performance we use firm survival on the stock market as the performance indicator. Using a unique data set of all 341 firms listed on the Neuer Markt, the German...
Persistent link: https://www.econbiz.de/10005504269
made a plea for guidance in the era of entrepreneurship, scholars have been slow to respond. The purpose of this paper is … introduced a greater element of entrepreneurship have been rewarded with additional growth. …
Persistent link: https://www.econbiz.de/10005504288