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gains after trade liberalization depend on the degree of labor market flexibility. In that model, trade protection may … investment, financial depth, inflation stabilization, public infrastructure, governance, labor-market flexibility, ease of firm …
Persistent link: https://www.econbiz.de/10012466884
This paper shows that the effect of capital account liberalization on growth depends upon the environment in which that policy occurs. A theoretical model demonstrates the possibility of an inverted-U shaped relationship between the responsiveness of growth to capital account liberalization and...
Persistent link: https://www.econbiz.de/10012467573
We revisit the debate over whether political institutions cause economic growth, or whether, alternatively, growth and human capital accumulation lead to institutional improvement. We find that most indicators of institutional quality used to establish the proposition that institutions cause...
Persistent link: https://www.econbiz.de/10012468125
In a recent series of articles, Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer, and Robert W. Vishny have argued that countries whose legal systems are based on civil law (especially of French origin) have systematically weaker environments for business than those whose legal...
Persistent link: https://www.econbiz.de/10012468406
We explore the determinants of research specialization across countries and its consequences for relative wages. Using … research regardless of trade barriers or research productivity. As long as trade barriers are not too high, faster diffusion … shifts research activity toward the country that does it better. This shift in research activity raises the relative wage …
Persistent link: https://www.econbiz.de/10012466280
The empirical analysis in "International R&D Spillovers" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in...
Persistent link: https://www.econbiz.de/10012464577
Recent cross-country investigations of the role of institutional fundamentals such as the protection of property rights in promoting financial development have extended a literature that has for decades maintained that financial factors can affect real outcomes. In this paper we pursue this new...
Persistent link: https://www.econbiz.de/10012466634
A long-standing debate pits those who think economic development leads to democratization against those who argue that both result from distant historical causes. Using the most comprehensive estimates of national income available, I show that development is associated with more democratic...
Persistent link: https://www.econbiz.de/10012461526
We investigate rewards to R&D in a model where substitute ideas for innovation arrive to random recipients at random …
Persistent link: https://www.econbiz.de/10012463708
flexibility is mainly driven by movers and short tenure workers. The cross-country comparison suggests that the relatively high …
Persistent link: https://www.econbiz.de/10012465626