set on innovation for a large number of Italian firms over the 1990’s. There is evidence that banking development affects … the probability of process innovation, particularly for small firms and for firms in high(er) tech sectors and in sectors … more dependent upon external finance. The evidence for product innovation is weaker. There is also some evidence that …

stochastic shocks imply that investment in radical innovation may very often be too time consuming and/or expensive to remain …We refine modelling of the radical innovation decision in this paper by extending real option theory to include non …

. To do such we employ a simple test of employer learning on Ghana manufacturing data. We find no evidence of educational …

skills, such as adult literacy programs, or other types of education. This paper examines these issues for Ghana, by …

as an instrument for investment in cattle. We find average returns in the order of -2% at the mean, but they vary across …

positive program treatment effect on employment, investment and net entry but not on TFP. OLS underestimates program effects …,300 suggesting that in some respects investment subsidies can be cost effective. …

We study the implications of product market competition and investment for price setting, wage bargaining and thereby …