Narrow search
Showing 1 - 10 of 117
Cover Image
Does Innovation Cause Exports? Evidence from Exogenous Innovation Impulses and Obstacles
Lachenmaier, Stefan; Woessmann, Ludger - CESifo - 2004
exogenous to firms’ export performance. We find that innovation attributable to this variation leads to an increase of roughly 7 …Trade and growth theories predict a mutual causation of innovation and exports. We test empirically whether innovation … percentage points in the export share of German manufacturing firms. The evidence is robust to several alternative specifications …
Persistent link: https://www.econbiz.de/10005406266
Cover Image
Dynamic Models of R&D, Innovation and Productivity: Panel Data Evidence for Dutch and French Manufacturing
Raymond, Wladimir; Mairesse, Jacques; Mohnen, Pierre; … - CESifo - 2013
This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly … Community Innovation Survey. The results provide evidence of robust unidirectional causality from innovation to productivity and … of stronger persistence in productivity than in innovation. …
Persistent link: https://www.econbiz.de/10010670799
Cover Image
Does an R&D Tax Credit Affect R&D Expenditure? The Japanese R&D Tax Credit Reform in 2003
Kasahara, Hiroyuki; Shimotsu, Katsumi; Suzuki, Michio - CESifo - 2013
To what extent does a tax credit affect firms’ R&D activity? What are the mechanisms? This paper examines the effect of R&D tax credits on firms’ R&D expenditure by exploiting the variation across firms in the changes in the eligible tax credit rate between 2000 and 2003. Estimating the...
Persistent link: https://www.econbiz.de/10010877675
Cover Image
Measurement and Determinants of Access to Loans
Hainz, Christa; Nabokin, Tatjana - CESifo - 2013
Measuring and identifying financial constraints represents an important challenge in empirical studies. Due to data limitations perception-based indicators or approximations of access to finance by the usage of finance are often used, disregarding firm-specific differences in the demand for...
Persistent link: https://www.econbiz.de/10010877770
Cover Image
The Political Economy of Financial Systems: Evidence from Suffrage Reforms in the Last Two Centuries
Degryse, Hans; Lambert, Thomas; Schwienbacher, Armin - CESifo - 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/10010877814
Cover Image
Ethnic Fractionalization, Governance and Loan Defaults in Africa
Andrianova, Svetlana; Baltagi, Badi H.; Demetriades, Panicos - CESifo - 2014
We present a theoretical model of moral hazard and adverse selection in an imperfectly competitive loans market that is suitable for application to Africa. The model allows for variation in both the level of contract enforcement (depending on the quality of governance) and the degree of market...
Persistent link: https://www.econbiz.de/10010948811
Cover Image
Do Natural Disasters Stimulate Individual Saving? Evidence from a Natural Experiment in a Highly Developed Country
Berlemann, Michael; Steinhardt, Max; Tutt, Jascha - CESifo - 2015
While various empirical studies have found negative growth-effects of natural disasters, little is yet known about the microeconomic channels through which disasters might affect short- and especially long-term growth. This paper contributes to filling this gap in the literature by studying how...
Persistent link: https://www.econbiz.de/10011277182
Cover Image
Collateral and its Substitutes in Emerging Markets' Lending
Menkhoff, Lukas; Neuberger, Doris; Rungruxsirivorn, Ornsiri - CESifo - 2011
Due to opaque information and weak enforcement in emerging loan markets, the need for collateral is high, whereas borrowers lack adequate assets to pledge as collateral. How is this puzzle solved? We find for a representative sample from Northeast Thailand that indeed most loans do not include...
Persistent link: https://www.econbiz.de/10009320789
Cover Image
Financial Development and Income Inequality: A Panel Data Approach
Jauch, Sebastian; Watzka, Sebastian - CESifo - 2011
We analyze the link between financial development and income inequality for a broad unbalanced dataset of up to 138 developed and developing countries over the years 1960 to 2008. Using credit-to-GDP as a measure of financial development, our results reject theoretical models predicting a...
Persistent link: https://www.econbiz.de/10009391726
Cover Image
'By a Silken Thread': Regional Banking Integration and Pathways to Financial Development in Japan's Great Recession
Hoffmann, Mathias; Okubo, Toshihiro - CESifo - 2013
century, silk reeling emerged as the main export industry. The silk reeling industry depended heavily on credit for working …, the main export hub for silk, provided silk reelers with trade loans. Many regional banks in Japan were founded as local …
Persistent link: https://www.econbiz.de/10010607005