We argue that inter-jurisdictional competition in a regionally decentralized authoritarian regime distorts local … presence of regional spillover and the incentive for political competition leads to biased resource allocations against the … allocation and firms' equity investment across Chinese cities. We find that, first, when local politicians are in more intensive …

. In contrast, the elasticity of investment supply can be inferred from quantity data alone. The bonus depreciation …Investment decisions are inherently forward-looking. The payoff of acquiring capital goods, particularly long …-lived capital goods, is governed almost exclusively by events in the far future. Because the timing of the investment itself does …

. Often this problem is ignored in the theory of investment, not only because depreciation is exogenous, but also due to the … interdependence with investment decisions. The approach is based on the view that the flow of undepreciated capital is an output to be …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …

product market, concerning in particular entry barriers, are negatively related to investment. The implications of our … analysis are clear: regulatory reforms, especially those that liberalize entry, are very likely to spur investment …

through which upstream sector anticompetitive regulations may impact productivity growth: business investments in R&D and in … relating productivity explicitly to R&D and ICT capital as well as to upstream regulations, and two factor demand functions … relating R&D and ICT capital to upstream regulations. These relations are estimated on the basis of an unbalanced panel of 15 …

In this paper we study "investment tournaments," a class of decision problems that involve gradual allocation of … investment among several alternatives whose values are subject to exogenous shocks. The decision-maker's payoff is determined by … an early stage of the tournament in a bid to capture a larger share of employer's investment, such as mentoring …