that these appreciations reflect underlying productivity gains in the tradable sector. Using panel data over the period … 1993-98, the results show clear evidence of productivity-driven exchange rate movements in the central and eastern European … expect to experience further productivity-driven real exchange rate appreciations. Evidence from a large cross-section of non …

The correlation bias refers to the fact that claim subordination in the capital structure of the firm influences claim … shown that the correlation bias shifts shareholder preferences towards highly correlated assets, making financial …

This paper undertakes a cross-country analysis of productivity growth at both the aggregate and sectoral level. It … finds that Asia''s remarkable output growth over the past 40 years reflected both high investment, and rapid productivity … encouraged resource shifts from low- to high-productivity sectors. Looking ahead, sustaining rapid growth requires meeting a …

collapsing investment and shrinking employment. Sharp declines in productivity, reflecting in part transition-related factors …

as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …

is relatively high, there is limited employment of nationals in the private sector, labor productivity has declined or …