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Banks and Markets : The Changing Character of European Finance

Zingales, Luigi - 2003

In the last two decades the European financial markets have become more market oriented. We analyze the economic and political forces that have triggered these changes as well as their likely welfare implications. We also try to assess whether this trend will continue. Based on our analysis, we...

Persistent link: https://www.econbiz.de/10012469104

Patent Rights, Product Market Reforms, and Innovation

Aghion, Philippe - 2013

Can patent protection and product market competition complement each other in enhancing incentives to innovate? In this paper, we address this question by investigating how innovation responses to a substantial policy initiative increasing product market competition interact with the strength of...

Persistent link: https://www.econbiz.de/10012459807

A New Metric for Banking Integration in Europe

Gropp, Reint - 2009

Most observers have concluded that while money markets and government bond markets are rapidly integrating following the introduction of the common currency in the euro area, there is little evidence that a similar integration process is taking place for retail banking. Data on cross-border...

Persistent link: https://www.econbiz.de/10012463912

The Politics of 1992 : Fiscal Policy and European Integration

Persson, Torsten - 1990

The internal market in Europe will greatly increase the international mobility of resources. How will this affect fiscal policy in different countries? The first part of the paper considers taxation of capital in a two country model, where a democratically chosen government in each country...

Persistent link: https://www.econbiz.de/10012475567

Factor Market Barriers are Trade Barriers : Gains From Trade in 1992

Baldwin, Richard - 1988

The European Community's economic integration by 1992 is predicted to have large economic benefits. According to traditional trade theory, the gains will come only with permanent resource migration and significant factor price changes (since in principle all trade barriers have already been...

Persistent link: https://www.econbiz.de/10012476408

The International Market for Corporate Control

Chari, Anusha - 2020

This paper documents a set of stylized facts about recent trends in cross-border M&A (CBMA) activity around the world. The facts focus on key features of CBMA such as (i) the magnitude; (ii) how it varies across industries and locations; (iii) how it compares to levels of greenfield FDI over time;...

Persistent link: https://www.econbiz.de/10012479366

Borders within Europe

Santamaría, Marta A. - 2020

Are country borders still an impediment to trade flows within Europe? Using a rich microlevel survey with 3 million annual shipments of goods by road across 269 European regions, we construct a matrix of bilateral trade flows for 12 industries from 2011 to 2017. We then use the causal inference...

Persistent link: https://www.econbiz.de/10012482519

FinTech in Sub-Saharan Africa : What Has Worked Well, and What Hasn't

Yermack, David L. - 2018

The FinTech sector has begun to grow rapidly in sub-Saharan Africa. I document far greater adoption of social media, digital currency, ride sharing, and other FinTech applications in countries with a common law legal heritage compared to those with a civil law system, suggesting that legal...

Persistent link: https://www.econbiz.de/10012480660

Digitization and the Contract Labor Market : A Research Agenda

Agrawal, Ajay - 2013

of inquiry in this market setting that are central to the broader digitization research agenda: 1) How will the … digitization of this market influence the distribution of economic activity (geographic distribution of work, income distribution … acquisition, machine-aided recommendations)?; 3) How will the digitization of this market affect social welfare (increased …

Persistent link: https://www.econbiz.de/10012459138

Estimating the Welfare Effects of Digital Infrastructure

Greenstein, Shane M. - 1996

While much economic policy presumes that more information infrastructure yields higher economic returns, little empirical work measures the magnitudes of these returns. We examine investment by local exchange telephone companies in fiber optic cable, ISDN lines and signal seven software,...

Persistent link: https://www.econbiz.de/10012473064