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Irreversible investment with uncertainty and scale economies

Dixit, Avinash - London School of Economics (LSE) - 1992

This paper analyses optimal irreversible investment policy when profits are subject to a multiplicative geometric Brownian motion shock. The marginal product of capital is increasing initially and decreasing thereafter. In the latter range, optimal policy is familiar: capacity is added gradually...

Persistent link: https://www.econbiz.de/10010746585

Mapping the two faces of R&D : productivity growth in a panel of OECD industries

Griffith, Rachel; Redding, Stephen; Van Reenen, John - London School of Economics (LSE) - 2000

Persistent link: https://www.econbiz.de/10010884706

Research and Productivity Growth Across Industries

Ngai, L. Rachel; Samaniego, Roberto M. - London School of Economics (LSE) - 2008

What factors underlie industry differences in research intensity and productivity growth? We develop a multisector growth model using standard parameters to capture the main factors considered in the empirical R&D and productivity growth literature. Along the balanced growth path, we find that...

Persistent link: https://www.econbiz.de/10010745293

Measuring organization capital in Japan: an empirical assessment using firm-level data

Miyagawa, Tsutomu; Kim, YoungGak - London School of Economics (LSE) - 2007

Globalization and the ICT revolution of the 1990s have forced many firms to reorganize in order to survive in a more competitive market. There are several approaches that can be used to assess the measurement of organization capital since it is unobservable. Using an optimizing firm model and...

Persistent link: https://www.econbiz.de/10010746087

An R&D-based model of multi-sector growth

Ngai, L. Rachel; Samaniego, Roberto M. - London School of Economics (LSE) - 2006

We develop a multi-sector general equilibrium model in which productivity growth is driven by the production of sector-specific knowledge. In the model, we find that long run differences in total factor productivity growth across sectors are independent of the parameters of the knowledge...

Persistent link: https://www.econbiz.de/10010746396

Government corruption and legislative procedures: is one chamber better than two?

Testa, Cecilia - London School of Economics (LSE) - 2003

This paper studies the impact of the competition between lobbies and voters on policy outcomes under alternative legislative procedures. Lobbies and citizens have opposing interests in a public policy and offer money and votes, respectively, to legislators to obtain their preferred policy....

Persistent link: https://www.econbiz.de/10010928625

Corruption, the resource curse and genuine saving

Dietz, Simon; Neumayer, Eric; de Soysa, Indra - London School of Economics (LSE) - 2007

. The indicators of institutional quality are corruption, bureaucratic quality and the rule of law. We find that reducing … corruption has a positive impact on genuine saving in interaction with resource abundance. That is, the negative effect of … resource abundance on genuine saving is reduced as corruption is reduced. …

Persistent link: https://www.econbiz.de/10010745011

Corruption and firm behavior

Sequeira, Sandra; Djankov, Simeon - London School of Economics (LSE) - 2013

This paper investigates how corruption affects firrm behavior. Firms can engage in two types of corruption when seeking … a public service: cost-reducing "collusive" corruption and cost increasing "coercive" corruption. Using an original and … corruption by adjusting their shipping and sourcing strategies. "Collusive" corruption is associated with higher usage of the …

Persistent link: https://www.econbiz.de/10010745127

Displacing corruption: evidence from a tariff liberalization program

Sequeira, Sandra - London School of Economics (LSE) - 2013

tariff evasion on imported goods. This is however partially offset by the displacement of corruption into other firms of … of corruption. I then provide suggestive evidence on how these displacement affects can be economically costly given that … in the design of trade and anti-corruption policies. …

Persistent link: https://www.econbiz.de/10010745888

Kyoto protocol cooperation: does government corruption facilitate environmental lobbying?

Fredriksson, Per G.; Neumayer, Eric; Ujhelyi, Gergely - London School of Economics (LSE) - 2007

corruption play a role for the success of such lobbying? In this paper, we propose that a more corruptible government may be more … activity raises the probability of ratification, and the effect rises with the degree of corruption. …

Persistent link: https://www.econbiz.de/10010746258