This paper examines the effect of an increase in vertical diversity in workers' skill on the long run growth rate of an economy. It uses a two-secror model where the techonology of the consumption-good sector is supermodular and that of the R&D sector is submodular. By adopting Grossman and...

Corporate governance mechanisms have been an important issue of enquiry for the researchers in financial economics. Both theoretical models and empirical analysis have been developed in this area to expalin the occurrence of different contractual mechanisms and thier efficacy in terms of...