Showing 1 - 10 of 24
By assuming Cobb-Douglas production technology, many well-known imperfectly competitive macroeconomic models of the labour market (e.g. Layard, Nickell and Jackman, 1991) imply that equilibrium unemployment is independent of the capital stock. This paper introduces a new notion of capacity into...
Persistent link: https://www.econbiz.de/10004977880
there is a relation in terms of both industry growth rates and shares of output devoted to R&D. Investment in R&D rather …
Persistent link: https://www.econbiz.de/10011133059
The spatial distribution of oil is determined by natural geography alone. However, we show that the distribution of oil exploration is affected by the quality of countries’ institutions. A global data set on the precise location of oil wells and national borders allows for a regression...
Persistent link: https://www.econbiz.de/10011133078
Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years.  Employment rates fall …
Persistent link: https://www.econbiz.de/10011164413
productive, or near equally productive employees without relational contracts.  Investment in specific training relaxes the … incentive constraints on relational contracts, so the optimal level of investment can be higher for those with a relational … additional cost of optimal investment precisely offsets the post-investment surplus for marginal employees in relational …
Persistent link: https://www.econbiz.de/10011071727
, investment rates are low.  I investigate three sources: detailed World Bank surveys of 6,500 manufacturing firms, a new panel … returns to be high throughout.  Micro-evidence and sectoral FDI data confirm that investment remains low outside the mining … industry and that the link between past profitability and current investment is weak in Africa.  Low investment despite high …
Persistent link: https://www.econbiz.de/10011004291
that, in case of multiple equilibria, consumers use the investment in quality as a coordination device.  We find that, in … equilibrium, platforms randomize over two disconnected intervals of investment levels, corresponding to competing for either the …
Persistent link: https://www.econbiz.de/10011004414
This paper examines how foreign ownership affects the investment decisions of subsidiary firms using a new dataset of … listed-parent - listed-subsidiary pairs.  We find that improvements in the investment opportunities of parent firms have a … negative effect on the investment of their subsidiaries, after controlling for the investment opportunities of the subsidiary …
Persistent link: https://www.econbiz.de/10011004467
for four African countries - the Cameroon, Ghana, Kenya and Zimbabwe - shows that in the early 1990s investment in … ask how skills have impacted on manufacturing investment and exports in the 1990s. Two dimensions of skills are defined … efficiency with which the firm operates. The latter is shown to be a significant determinant of both investment and exports …
Persistent link: https://www.econbiz.de/10011152509
China has had a remarkably high ratio of investment to output throughout the period of economic reform, surpassing … almost all other economies, whether developed or developing.  The high investment rate is in turn an important proximate … investment is so high.  It considers factors both on the demand and on the supply side, and in the latter case the availability …
Persistent link: https://www.econbiz.de/10004982010