Showing 1 - 10 of 18
This paper analyzes the effect of an increase in patent scope on R&D and innovation. It presents a model where patent scope affects an entrant firm's technology choice and thereby creates a trade-off between R&D investments and wasteful duplication of R&D. The model predicts that an increase in...
Persistent link: https://www.econbiz.de/10005207060
The growth effects of international financial liberalization and integration are investigated using the methodology and data developed by Rajan and Zingales (1998). The main result is that industries highly dependent on external financing do not experience higher growth in value added in...
Persistent link: https://www.econbiz.de/10005207062
No abstract.
Persistent link: https://www.econbiz.de/10010611582
Persistent link: https://www.econbiz.de/10005780369
Persistent link: https://www.econbiz.de/10005780373
The search for growth-promoting policies is found to demand knowledge of how growth depends upon actions of entrepreneurs and how these actions depend upon the prevailing institutions. While institutions have extensively been examined for their influences upon the freedoms and the incentives of...
Persistent link: https://www.econbiz.de/10005780392
This paper studies determinants of income inequality using a newly assembled panel of 16 countries over the entire twentieth century. We focus on three groups of income earners: the rich (P99-100), the upper middle class (P90-99), and the rest of the population (P0-90). The results show that...
Persistent link: https://www.econbiz.de/10005771087
The search for growth-promoting policies is found to demand knowledge of how growth depends upon actions of entrepreneurs and how these actions depend upon the prevailing institutions. While institutions have extensively been examined for their influences upon the freedoms and the incentives of...
Persistent link: https://www.econbiz.de/10005190640
Hedging transaction and translation exposures to exchange rate changes may increase the economic exposure of the firm and reduce the information value of firms' quarterly statements. In this paper hedging macroeconomic exposures, of which exchange rate exposure is one type, is discussed in terms...
Persistent link: https://www.econbiz.de/10010684465
This paper examines the impact of financial market imperfections on long-term productivity growth. It focuses on failures in markets for the sale of equity securities and hence on the failure of markets which help firms diversify the risks of real investment. The paper examines separately...
Persistent link: https://www.econbiz.de/10010684473