In this paper we propose minority voting as a scheme that can partially protect individuals from the risk of repeated …: voting winners, voting losers, and absentees. Under minority voting only voting losers keep the voting right in the second … period. We show that as soon as absolute risk aversion exceeds a threshold value minority voting is superior to repeated …

Financial constraints are an important impediment to the growth of small businesses. We study theoretically and … decisions and growth of principals, in the context of franchising. We find that a 30 percent decrease in average … waiting time, and slows their growth by around 10 percent, leading to a 10 percent reduction in franchised chain employment. …

We investigate the relationship between unemployment and growth in China. We find considerable differences in the …

A central issue in the study of sustainable development is the interplay of growth and sacrifice in a dynamic economy … provides the limit to growth. Maximin value is interpreted as a dynamic environmental-economic carrying capacity and current …

We make use of a bootstrap panel analysis of causality between energy use and economic growth for a sample of sixteen … African countries over the period 1988-2010. Our results show that growth and energy use are strongly linked in Africa …. However, African countries are heterogeneous and there is no “one way” recommendation about energy-growth relationship that …

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 …

economic reform, economic growth and, with a delay, on investment and institutional change. Episode of high inflation, moreover …

We discuss the sustainability of Chinese high growth relative to growth experience elsewhere, and specifically Soviet … Russia in the 1950s to the 1960s by asking if the aggregate technology can eventually similarly constrain high growth … that the substitution elasticity is greater than one. We then discuss how sub aggregate high growth can occur when there …

hypothesis. Thus, our findings suggest that not all MENA countries need to sacrifice economic growth to decrease their emission … growth. …