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Job Growth in Early Transition: Comparing Two Paths

Jurajda, Stepan; Terrell, Katherine - William Davidson Institute, University of Michigan - 2002

Small start-up firms are the engine of job creation in early transition and yet little is known about the characteristics of this new sector. We seek to identify patterns of job growth in this sector in terms of niches left from central planning and ask about differences in job creation across...

Persistent link: https://www.econbiz.de/10005677464

Financial Institutions and The Wealth of Nations: Tales of Development

Tong, Jian; Xu, Chenggang - William Davidson Institute, University of Michigan - 2004

evolution of the financing regimes. The e?ectiveness of R&D selection mechanisms depends on the institutions and the development … stages of an economy. At higher development stages a financing regime with ex post selection capacity is more e?ective for … financing regime with more centralized decision-making is less a?ected by contract enforcement but has no ex post selection …

Persistent link: https://www.econbiz.de/10005677512

Policy Reform and Growth in Post-Soviet Russia

Berkowitz, Daniel; DeJong, David - William Davidson Institute, University of Michigan - 2001

In pursuit of its transition from a command to a market economy, Russia has witnessed enormous regional differences in economic growth rates. Moreover, the implementation of economic reforms has also differed markedly across regions. We analyze whether regional differences in reform policies can...

Persistent link: https://www.econbiz.de/10005677524

Capital Markets and Capital Allocation: Implications for Economies in Transition

Durnev, Artyom; Morck, Randall; Yeung, Bernard - William Davidson Institute, University of Michigan - 2001

Persistent link: https://www.econbiz.de/10005489863

Bank-Based or Market-Based Financial Systems: Which is Better?

Levine, Ross - William Davidson Institute, University of Michigan - 2002

For over a century, economists and policy makers have debated the relative merits of bank-based versus market-based financial systems. Recent research, however, argues that classifying countries as bank-based or market is not a very fruitful way to distinguish financial systems. This paper...

Persistent link: https://www.econbiz.de/10005489929

Financial Development and Technology

Tadesse, Solomon - William Davidson Institute, University of Michigan - 2007

Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel...

Persistent link: https://www.econbiz.de/10005652518

Entrepreneurship and Post-Socialist Growth

Berkowitz, Daniel; DeJong, David - William Davidson Institute, University of Michigan - 2001

A growing body of national-level survey evidence indicates that small-scale entrepreneurial activity has been an important engine of growth in post-socialist economies. Here we use a rich regional data set to obtain a statistical characterization of the relationship between entrepreneurial...

Persistent link: https://www.econbiz.de/10005652569

Innovation, Information and Financial Architecture

Tadesse, Solomon - William Davidson Institute, University of Michigan - 2007

Does a financial system architecture anchored on banks better than one centered on markets in fostering technological innovations as engine of growth? In a panel of industrial sectors across a large cross section of countries, I find that while market-based systems have a general positive effect...

Persistent link: https://www.econbiz.de/10005652649

CAPITAL ACCOUNT POLICIES, IMF PROGRAMS AND GROWTH IN DEVELOPING REGIONS

Bicaba, Zorobabel; Brixiová, Zuzana; Ncube, Mthuli - William Davidson Institute, University of Michigan - 2014

This paper examines capital account policy choices in an innovative model with adaptive learning under uncertainty. In the model, countries’ past experiences and IMF programs influence policymakers’ beliefs about impact of capital account liberalization on growth, taking into account...

Persistent link: https://www.econbiz.de/10011124478

Financial Architecture and Economic Performance: International Evidence

Tadesse, Solomon - William Davidson Institute, University of Michigan - 2001

The paper examines the relations between the architecture of an economy's financial system - its degree of market orientation - and economic performance in the real sector. We argue that the relative effectiveness of bank-based versus market-based financial systems depends on the strength of the...

Persistent link: https://www.econbiz.de/10005784672